Dragonfly Energy SPAC Presentation Deck
Valuation Benchmarking (Cont'd)
(7)
(2)
(3)
Growth Adjusted
EV/2023E
Revenue(¹)
Growth Adjusted
EV/2023E
EBITDA (¹)
dragonfly
ENERGY
~62%
Discount to Median
of the Peer Group
1.6x
~90%
Discount to Median
of the Peer Group
5.2x
Solid State
Solid Power
QuantumScape
Not forecasted to
have material
revenue(2) in 2022E
or 2023E
Not forecasted to
be profitable (³) in
2022E or 2023E
Tech-Focused
Energy Storage
eos ESS
stem
0.2x
Not forecasted to
be profitable(3) in
2022E
Source: FactSet; Public Company Filings as of 04/29/2022.
Note: Chart reflects median metrics of respective peer groups. Overall median reflects median of each company included.
Growth adjusted revenue and EBITDA multiples calculated as 2023E multiple divided by the 2022E-2023E growth rate of each metric.
Material revenue defined as revenue >$5MM.
Profitability defined as positive EBITDA.
INC
Li-ion Battery
Manufacturers
SAMSUNG
SAMSUNG SDI
CATL
L
ENOVIX
LG Energy Solution microvast
7.8x
Median Multiples
44.3x
Median Multiples
Vertically
Integrated Energy
Li-Cycle
(BYD)
T
TESLA
4.9x
86.0x
dragonfly
4.3x
Median
52.2x
Median
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