Investors in Dragonfly Energy Holdings Corp. (DFLI) got a nasty shock Monday evening. The maker of lithium batteries saw its stock take a nosedive after reporting fourth-quarter results that missed expectations by a country mile.

Here's what went down: The company reported a loss of $4.57 per share. That's not a typo. Analysts were expecting a loss of 60 cents. So, it missed by about $4. That's the kind of miss that makes your eyes water and sends traders scrambling for the sell button.

The one silver lining? Revenue actually came in a hair above expectations at $13.06 million, beating the consensus estimate of $12.94 million. For the full year, the company's net sales increased 15.8% to $58.6 million. Sales to original equipment manufacturers (OEM) jumped 33.8%, which the company credited to new customers and more people using its products.

But not all sales channels were firing. Direct-to-consumer (DTC) net sales dropped to $20.7 million from $22.6 million. Dragonfly pointed the finger at "continued softness in the RV market," which makes sense if you think about it—when people are worried about the economy, buying a new recreational vehicle is probably not at the top of the list.

CEO Dr. Denis Phares tried to put a positive spin on the year, calling it one of "meaningful progress." He highlighted a stronger balance sheet, expanded partnerships in the RV and trucking sectors, and that overall revenue growth "despite continued market headwinds."

Then came the outlook, and it was another gut punch for investors. The company said it expects first-quarter revenue of about $9.5 million. Wall Street analysts were looking for more than $15 million. That's a guidance miss of over 35%, which explains why the stock reaction was so severe.

And severe it was. Shares of Dragonfly Energy cratered 15.07% in after-hours trading, falling to $2.48. It's a classic story of a company showing some operational progress but delivering financial results that leave the market deeply unimpressed.