Latest news with #MichaelD.Farkas
Yahoo
21-05-2025
- Business
- Yahoo
NextNRG Reports Q1 2025 Revenues up 147% Year-over-Year
Triple-Digit Growth Highlights Execution of Integrated Energy Infrastructure Strategy Q1 2025 Conference Call Scheduled for May 22, 2025 at 9:15 AM ET MIAMI, May 21, 2025 (GLOBE NEWSWIRE) -- NextNRG, Inc. (Nasdaq: NXXT), a pioneer in AI-driven energy innovation—transforming how energy is produced, managed and delivered through its advanced Utility Operating System, smart microgrid technology, wireless EV charging and on-demand mobile fuel delivery solutions— today announced financial results for the first quarter ended March 31, 2025, and provided a strategic update on its technology roadmap and growth trajectory. The Company will host a conference call to discuss these results on May 22, 2025 at 9:15 AM ET. Dial-in details are as follows: North America Toll-Free: 1-866-524-3160 International: 1-412-317-6760 Canada Toll-Free: 1-866-605-3852 Webcast URL: Selected Financial & Operational Highlights Metric Q1 2025 (unaudited) Q1 2024 (unaudited) Revenue $16.3M $6.6M Gross Profit $518K $462K 'We entered 2025 with tremendous momentum and a clear roadmap to scale, and Q1 results are a reflection of that execution,' said Michael D. Farkas, CEO of NextNRG. 'With triple-digit revenue growth, record-setting fuel volumes, and expanding margins, our core operations continue to exceed expectations. At the same time, we are advancing the next phase of our integrated energy strategy, with smart microgrid deployments and wireless EV charging programs progressing toward commercial launch. We believe our hybrid platform—combining traditional fueling, electrification, and AI-driven grid intelligence—represents the future of distributed energy,' Farkas added. 'As we continue executing on this vision, we are building an ecosystem capable of delivering reliable, intelligent, and sustainable infrastructure at national scale laying the foundation for enormous long-term SaaS-based recurring revenue streams.' Recent Accomplishments Strong April Momentum Across Key Metrics: Preliminary April 2025 revenue reached $5.82 million, up 154% year-over-year. Volume increased 207%, underscoring sustained demand across multiple regions. Commercial Enterprise Expansion: Extended key existing relationships into Texas using a dedicated fleet portal for operational oversight, increasing engagement from enterprise clients seeking scalable site-level energy solutions. Oklahoma Market Entry: Expanded footprint into a seventh operational state under a long-term agreement with one of the country's largest in-house fleet operators. Network Reach Strengthened: Grew national deployment capacity to 144 active vehicles servicing major logistics corridors across metro regions including California, Michigan, Tennessee, and the Southeastern U.S. Q1 2025 Strategic and Operational Highlights Corporate Rebrand and Capital Formation: Completed $15 million public offering and corporate rebrand to NextNRG. Utility OS Rollout Underway: Initiated deployment of NextNRG's AI-powered Utility Operating System to optimize microgrid efficiency, automate fleet energy delivery, and enable real-time energy management across new infrastructure projects. Smart Microgrids: On track to begin utility-scale microgrid deployment in Northern Florida in Q2 2025. EV Innovation: Planning launch of the largest bidirectional wireless EV charging pilot in Southern Florida later this year. Infrastructure Expansion with Strategic Acquisitions: Completed the Shell Oil mobile fleet acquisition and integration of Yoshi Mobility assets, boosting logistics capacity and infrastructure access. Geographic Growth in Four New Markets: Entered Phoenix, Austin, San Antonio, and Houston, furthering national service availability and support for new utility and municipal customers. Commercial Channel Maturation: Executed logistics support agreements with major national brands, reinforcing recurring delivery demand and infrastructure reliability. Fleet Partnerships: Initiated deliveries to the world's largest e-commerce company under a multi-year agreement, significantly expanding the Company's B2B revenue base. First Quarter 2025 Performance Revenue reached $16.3 million, a 147% increase from $6.6 million in Q1 2024. Gallons delivered totaled 4.7 million, up 183% from 1.7 million in the prior-year quarter. Average fuel margin per gallon expanded to $0.71, compared to $0.65 in Q1 2024. Gross profit rose to $518,000, a 12% increase from $462,000 in the same period last year. Ended the quarter with $2.1 million in cash, a 31% year-over-year increase. Looking Ahead: Scaling the Energy Intelligence Grid NextNRG is focused on expanding its integrated platform across three infrastructure-aligned revenue streams: Utility Operating System and Smart Microgrids: Deploying AI-driven grid management software and battery/solar microgrid systems through SaaS and power purchase agreements. Wireless EV Charging: Advancing from R&D to commercial pilots with property owners, CPOs, and municipalities. Mobile Energy Logistics: Scaling across sectors with centralized scheduling and recurring site-level optimization. About NextNRG, Inc. (NextNRG) is Powering What's Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem. At the core of NextNRG's strategy is its Utility Operating System, which leverages AI and ML to help make existing utilities' energy management as efficient as possible, and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities and government properties, expanding energy accessibility while supporting decarbonization initiatives. NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility's fuel division and Shell Oil's trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV, supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG's innovative wireless EV charging solutions. To find out more visit: Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as "expect," "intends," "will," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. Investor Relations ContactNextNRG, CohenSCohen@
Yahoo
31-03-2025
- Business
- Yahoo
NextNRG Reports Strong Fourth Quarter and Full Year 2024 Financial Results
Stronger Revenue, Improved Margins, and Expanded Volumes — FY 2024 Revenue Increased 20% to $27.8 Million from $23.2 Million in 2023 —— FY 2024 Gross Profit Grew 64% to $2.3 Million, Up from $1.4 Million in 2023 — — Q4 2024 Revenue Increased 21% to $6.9 Million from $5.7 Million in Q4 2023 —— Q4 2024 Gross Profit Grew 97% to $652 Thousand, Up from $330 Thousand in Q4 2023 —MIAMI, March 27, 2025 (GLOBE NEWSWIRE) -- NextNRG, Inc. (NASDAQ: NXXT), a pioneer in AI-driven energy innovation—transforming how energy is produced, managed, and delivered through its advanced Utility Operating System, smart microgrid technology, wireless EV charging, and on-demand mobile fuel delivery solutions— today reported financial results for the fourth quarter and fiscal year ended December 31, 2024, and provided a strategic update on its key growth initiatives. The Company will hold a conference call to discuss its fourth quarter and full year 2024 financial results on March 31st at 4:30 pm ET. Dial in and webcast details are below. Selected Financial & Operational Highlights Metric Q4 2024(unaudited) Q4 2023(unaudited) FY 2024 FY 2023 Revenue $6.9M $5.7M $27.8M $23.2M Gross Profit $652K $330K $2.3M $1.4M 'We entered 2024 with the clear goal of laying the groundwork for long-term growth—and we believe we delivered on that vision,' said Michael D. Farkas, CEO of NextNRG. 'Through enhanced operating efficiency and higher-margin fuel delivery, we increased revenues by 20%, expanded gross profit, while investing in transformative technologies. Our pipeline in microgrids and EV infrastructure is larger than ever, and we believe we are just beginning to unlock the full value of our platform. Additionally, our expanding footprint in mobile fueling is set to open significant opportunities to convert these fleets to electric, aligning with our commitment to sustainable energy solutions' Strategic and Operational Milestones Corporate Rebranding: Completed transition from EzFill Holdings to NextNRG, Inc. in Q1 2025, aligning with the Company's expanded clean energy vision. Fueling Platform Growth: Delivered 7.2 million gallons in 2024 (+22% YOY), supported by 140 operational trucks across six states. Smart Microgrid Pipeline: Company expects to put out guidance on expanded microgrid pipeline in the next quarter. EV Innovation: Advanced static and dynamic wireless EV charging solutions (grid to vehicle and vehicle to grid capabilities) through exclusive technology licenses from Florida International University. Capital Raise: Completed $15 million public offering in February 2025 to support scale and strengthen the balance sheet. Fiscal Year 2024 Financial Highlights Revenue increased 20% year-over-year to $27.8 million, compared to $23.2 million in 2023, driven by volume growth and improved fuel margin. Gross profit rose to approximately $2.3 million, a 44% increase from the prior year. Cash balance at year-end was $438,299, up from $226,985 at the end of 2023. Fourth Quarter 2024 Performance Revenue for Q4 2024 totaled $6.9 million, an increase of 21% compared to $5.7 million in Q4 2023, driven by higher fuel volumes and improved margin per gallon. Gallons delivered during the quarter rose to 1.8 million, up from 1.5 million in the prior-year period, reflecting new fleet accounts and increased market penetration. Average fuel margin per gallon expanded to $0.71, compared to $0.65 in Q4 2023, reflecting a continued focus on pricing optimization and operational discipline. Gross profit for the quarter more than doubled year-over-year to $652,000, compared to $330,000 in Q4 2023. Looking Ahead NextNRG enters 2025 with a clear mandate: to scale its AI/ML-powered energy solutions through a combination of SaaS contracts, infrastructure deployment, and recurring mobile fueling revenue. The Company is targeting sustainable long-term growth across multiple verticals. 'We believe NextNRG's integrated platform—combining mobile fueling, wireless EV charging, and AI-optimized Utility Operating System and smart microgrids—is uniquely positioned to power the distributed energy future.' Teleconference and Webcast Information To participate, domestic callers may dial 1-866-524-3160 and international callers may dial 1-412-317-6760 at least 10 minutes prior to the start of the call and ask to join the NextNRG call. A simultaneous webcast of the call may be accessed here: A replay of the call will be available at 1-877-344-7529 or 1-412-317-0088, access code 1610449, through April 7, 2025. The call will also be available for replay on the Company's website at About NextNRG, Inc. NextNRG Inc. (NextNRG) is Powering What's Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging, and on-demand mobile fuel delivery to create an integrated ecosystem. At the core of NextNRG's strategy is its Utility Operating System which leverages AI and ML to help make existing utilities' energy management as efficient as possible; and the deployment of NextNRG Smart Microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs, and improve grid resiliency. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives. NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility's fuel division and Shell Oil's trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG's innovative wireless EV charging solutions. To find out more visit: Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as "expect," "intends," "will," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. Investor Relations Contact NextNRG, CohenSCohen@ in to access your portfolio
Yahoo
31-03-2025
- Business
- Yahoo
PRISM MarketView Highlights NextNRG Following Estimated 139% Year-over-Year Revenue Growth in February 2025
Second Consecutive Month of Record Performance for EzFill Mobile Fueling Division; Conference Call to Discuss Full-Year 2024 Results Scheduled for Today at 4:30 PM ET NextNRG NEW YORK, March 31, 2025 (GLOBE NEWSWIRE) -- PRISM MarketView today announced the spotlighting of NextNRG, Inc. (Nasdaq: NXXT) on its platform, following the Company's report of estimated 139% year-over-year revenue growth for February 2025. This marks the second consecutive month of record performance for the Company's EzFill mobile fueling division, which continues to drive momentum across its AI-powered energy solutions. According to unaudited results, February revenue reached approximately $5.09 million, despite fewer operating days than January. Fuel volumes surged to approximately 1.44 million gallons, a 166% increase compared to the same month last year. This PRISM update follows the Company's recent announcement of full-year 2024 revenue growth of 20% to $27.8 million, with gross profit up 64% year-over-year to $2.3 million. Fourth quarter revenue rose to $6.9 million, with gross profit nearly doubling to $652,000. In the article, Michael D. Farkas, Founder and CEO of NextNRG, emphasized the company's recent momentum and strategic growth, stating: 'We believe our back-to-back record months underscore the power of our growing platform and the momentum we've built through strategic expansion. The successful integration of the Shell Oil fleet and our long-term agreement with a global e-commerce leader are now fueling real, measurable growth. As we scale with continued discipline, demand from fleet partners continues to rise, validating our model and vision for the future. With EzFill's on-demand fueling operating efficiently and NextNRG's smart energy infrastructure, we are positioned to lead the transformation of how energy is delivered in a connected, AI-driven world.' As the Company continues to scale, it plans to accelerate growth across mobile fueling, AI-optimized microgrids, and wireless EV charging, supported by new SaaS contracts and infrastructure deployment initiatives. Read the full feature on PRISM MarketView: A conference call to discuss full-year 2024 financial results is scheduled for today, Monday, March 31, 2025 at 4:30 PM ET. To find out more about NextNRG, read the latest Q&A HERE A conference call to discuss NextNRG's full-year 2024 results is scheduled for Monday, March 31, 2025, at 4:30 PM ET. About NextNRG, Inc. (NextNRG) is Powering What's Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging, and on-demand mobile fuel delivery to create an integrated ecosystem. At the core of NextNRG's strategy is its Utility Operating System which leverages AI and ML to help make existing utilities' energy management as efficient as possible; and the deployment of NextNRG Smart Microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs, and improve grid resiliency. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives. NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility's fuel division and Shell Oil's trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG's innovative wireless EV charging solutions. To find out more visit: About PRISM MarketView Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at and follow us on X. PRISM MarketView does not provide investment advice. Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as "expect," "intends," "will," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. DisclaimerThis communication was produced by PRISM MarketView, an affiliate of PCG Advisory Inc., (together "PCG"). PCG is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. PCG may be compensated by respective clients for publicizing information relating to its clients' securities. See Contact:PRISM MarketViewinfo@ A photo accompanying this announcement is available at in to access your portfolio
Reuters
31-03-2025
- Business
- Reuters
NextNRG Announces Estimated 139% Year-over-Year Revenue Growth for February 2025
NEW YORK, NY, March 31, 2025 (EZ Newswire) -- Following the release of its fourth quarter and full-year 2024 financial results, NextNRG, Inc. (NASDAQ: NXXT)—a pioneer in AI-driven energy innovation, transforming how energy is produced, managed, and delivered through its advanced Utility Operating System, smart microgrid technology, wireless EV charging, and on-demand mobile fuel delivery solutions—has reported another month of record performance. The company continues to demonstrate momentum across its smart fueling operations and broader platform of next-generation energy solutions. In February 2025, NextNRG reported unaudited revenue of approximately $5.09 million, a 139 percent increase over February 2024 and a sequential increase from January, despite fewer operating days. Fuel volumes rose to approximately 1.44 million gallons, up 166 percent year-over-year. The performance marks the second consecutive month of record revenue for the company's EzFill mobile fueling division. Recently, NextNRG also reported a 20 percent increase in full-year 2024 revenue to $27.8 million, up from $23.2 million in 2023. Gross profit for the year grew 64 percent to $2.3 million. Fourth quarter revenue rose 21 percent year-over-year to $6.9 million, while gross profit nearly doubled to $652,000. Growth was driven by increased fuel volume, higher-margin delivery operations, and improved pricing discipline. 'We believe our back-to-back record months underscore the power of our growing platform and the momentum we've built through strategic expansion. The successful integration of the Shell Oil fleet and our long-term agreement with a global e-commerce leader are now fueling real, measurable growth. As we scale with continued discipline, demand from fleet partners continues to rise, validating our model and vision for the future. With EzFill's on-demand fueling operating efficiently and NextNRG's smart energy infrastructure, we are positioned to lead the transformation of how energy is delivered in a connected, AI-driven world,' said Michael D. Farkas, founder and CEO of NextNRG. As the Company looks ahead to the remainder of 2025, it plans to accelerate its expansion across key verticals including mobile fueling, AI-optimized microgrids, and wireless EV charging. New SaaS contracts and infrastructure deployment initiatives are expected to support recurring revenue growth and long-term scalability. To find out more about NextNRG, read the latest Q&A here. A conference call to discuss NextNRG's full-year 2024 results is scheduled for Monday, March 31, 2025, at 4:30 PM ET. About NextNRG NextNRG, Inc. (NASDAQ: NXXT) is Powering What's Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging, and on-demand mobile fuel delivery to create an integrated ecosystem. At the core of NextNRG's strategy is its Utility Operating System which leverages AI and ML to help make existing utilities' energy management as efficient as possible; and the deployment of NextNRG Smart Microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs, and improve grid resiliency. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives. NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility's fuel division and Shell Oil's trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG's innovative wireless EV charging solutions. To find out more visit: Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as "expect," "intends," "will," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. Disclaimer This communication was produced by PRISM MarketView, an affiliate of PCG Advisory Inc., (together "PCG"). PCG is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. PCG may be compensated by respective clients for publicizing information relating to its clients' securities. See Media Contact ### SOURCE: NextNRG Copyright 2025 EZ Newswire
