I know the op has not posted again. But I thought I'd conduct an experiment to further the discussion.
Obviously there are 1000's of lights out there. But I only own so many.
Here are two lights which I think match the requirements of the op.
Both lights are 1 x 26650 powered. And not so dissimilar sized.
Torch 1 is a Shadow JM35. It is a few years old, but uses the really large Cree MT-G2 LED as a single emitter. I know a modern XHP50 or XHP70 could make more lumens, but I don't have anything in this format/size with them. The Shadow is also designed more as a flooder than a thrower too. Which I feel is more appropriate.
Torch 2 is a recent purchase of a few weeks back. It is an Astrolux MF01 Mini. And it uses 7 x SST20 LEDs. Each LED uses a small TIR optic.
So we have multi-LED vs single LED
The Shadow JM35 is rated at about 1800-1900 lumens. It has no turbo mode, just 3 outputs.
The MF01 Mini on the other hand is rated at a max of 5500 lumens on Turbo. However it does have a non-turbo high. I'm unsure on the rated output for this mode. But I've seen claims that it is 1/3rd the amp draw. It certainly makes way less heat. I'd estimate it to be maybe half the output of Turbo. Which means the two lights perhaps aren't so different in their output when compared High to High.
The MF01 Mini is the slightly smaller torch. Slightly shorter and the head/reflector area is quite a bit narrower. Although both lights would fit in a coat pocket with ease. They also feel similar weights, the MF01 Mini must have a huge heatsink in the head, it is very nose heavy.
Some beamshots. These were taken on an iPhone 11. Therefore they are not 100% accurate in representation. But they should give an indication to the differences.
The large tree is about 420 feet away.
Shadow JM35:
MF01 Mini (High):
Pretty close. The JM35 has a wider spill beam and the tree on the left of the image up close is illuminated much better. The tree at 420 feet away are pretty close. On the camera the MF01 Mini looks the better, but there really wasn't much in it. The beam from the Mini was bigger and light up more of the tree. But the JM35 probably just had a slight edge if I had to call it. But it was super close. Note however how the bigger beam of the Mini lights up the sigh in the path way better than the JM35 does.
The real difference was when you kicked the Mini up to Turbo:
The Mini then lit up a much bigger area at distance and much brighter than the JM35. The MT-G2 of the Shadow could probably be driven harder for a short burst too. But as the JM35 doesn't support this I'm unable to test this today.
Of course a smaller higher output LED like an XHP50 would throw further, but in a reflector of the size/depth of the JM35 I'm not sure you'd retain the same spill beam. Latter JM35's did use this emitter, but I've not used one.
Up close. The JM35 has a hotspot, it is a big hotspot, but a hotspot non the less. However the spill is wide and nice and bright.
While the Mini has no defined hotspot at all, just one large even beam. However as you get towards the edge, it tails off quite quickly. And you can see here the width being illuminated is less. To the eye the difference wasn't this big, but it is noticeable.
Mini on High
Turbo (brighter, but note the extra distance past the sign)
Conclusion:
Both hugely capable. But ultimately the Mini with its multi emitter setup does out perform the single emitter JM35 in this comparison. And the Mini is quite a bit smaller. Small enough to probably fit in a Jeans pocket, although chunky & heavy it is.
The Mini does get hotter, especially on Turbo mode. But the JM35 is bigger to shed its heat. The JM35 also has way nicer tint. But that is less relevant to the topic under discussion.
Not sure which is the more efficient. I think the Mini has the higher amp draw, even on High and massively so on Turbo. But ramped down I would bet they are pretty close again.