Dragonfly Energy SPAC Presentation Deck
Valuation Benchmarking (Cont'd)
Attractive entry point based on 2023E EBITDA with potential substantial upside from solid state technology
EV/2023E EBITDA
*
dragonfly
~33%
Discount to Median
of the Peer Group
12.2x
Solid State
Solid Power
QuantumScape
Not forecasted to
be profitable() in
2023E
Tech-Focused
Energy Storage
eos ESS
stem
57.6x
Source: FactSet; Public Company Filings as of 04/29/2022.
Note: Chart reflects median multiples of respective peer groups. Overall median reflects median of each company included.
(1) Profitability defined by positive EBITDA.
INC
Li-ion Battery
Manufacturers
CATL
ENOVIX
(1)
LG Energy Solution microvast
SAMSUNG
SAMSUNG SDI
18.2x
Median Multiples
Vertically
Integrated Energy
T Li-Cycle
BYD
TESLA
15.5x
dragonfly
ENERGY
18.2x
Median
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