Balance Sheet Weakness: DFLI’s equity has eroded from $127.4M in 2021 to $24.3M in Q3 2023, while liabilities surged to $58.2M, reflecting a debt-to-equity ratio of 4.18. The current ratio (1.37) and quick ratio (0.35) highlight liquidity strain, with the latter indicating reliance on inventory (not easily liquidated).
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