Latest news with #NextNRGInc
Yahoo
23-05-2025
- Business
- Yahoo
Q1 2025 NextNRG Inc Earnings Call
Jeff Ramson; Investor Relations; PCG Advisory Group Michael Farkas; Executive Chairman of the Board, Chief Executive Officer; NextNRG Inc Joel Kleiner; Chief Financial Officer; NextNRG Inc Operator Good day and welcome to the NextNRG first quarter 2025 financial call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Jeff Ramson, CEO of PCG Advisory. Please go ahead. Jeff Ramson Thank you, operator. Good morning, everyone, and thank you for joining us today. With me are Michael Farkas, CEO of NextNRG; and Joel Kleiner, its CFO. Before we begin, please note that today's call may contain forward-looking statements based on current expectations and assumptions. These are subject to risks and uncertainties, and actual results may differ materially. For a more complete discussion, please refer to our Form 10-Q for the quarter ended March 31, 2025, filed with the SEC. With that, I'll turn the call over to CEO, Michael Farkas. Michael Farkas Thank you, Jeff. Good morning, everyone. The first quarter of 2025 was nothing short of transformational for NextNRG, a true inflection point in our journey. We are not just scaling. We are surging forward with momentum that reflects the strength of our vision and the power of execution. Revenue soared to $16.3 million in Q1 2025, marking a remarkable 146% increase year over year. This explosive growth was fueled by the expansion of our mobile fueling operations and a series of bold strategic acquisitions that are already delivering outsized returns. On the operational front, our delivery volumes rose to over 4.7 million gallons up from 1.7 million gallons in Q1 2024, a staggering 183% increase. This leap underscores the seamless integration of the Shell and Yoshi fleet assets along with the onboarding of major national accounts, including the world's largest e-commerce company, a partnership that speaks volumes about the caliber of our capabilities. Excuse me -- demand of our fueling solutions is not just growing, it's accelerating. To meet it, we've expanded into multiple new states, extending our footprint across the nation. Meanwhile, our technology pipeline is gaining serious transaction. From smart microgrid developments to cutting-edge wireless EV charging, we are laying the digital and physical infrastructure for a distributed, intelligent and sustainable energy future. NextNRG is not just growing. We are defining the future of energy, 1 gallon, 1 watt and 1 breakthrough at a time. Now I'll hand it over to our CFO, Joel Kleiner, for a deeper look at our financials. Joel Kleiner Thank you, Michael. The first quarter of 2025 was a defining chapter in NextNRG's growth story. For the first three months ended March 31, NextNRG generated $16.3 million in revenue, a 146% increase from $6.6 million in Q1 2024. This powerful performance was driven by a triple force of increased fleet volume, strategic pricing initiatives and rapid geographic expansion. Cost of sales rose to $15.8 million, up from $6.1 million in the previous year, resulting in gross profit of approximately $517,000. While gross margins narrowed due to strategic spending on fleet scaling and other expansion costs, initiatives like volume-based discounting and delivery optimization position us for improved margins in the quarters ahead. Operating expenses totaled $6.3 million, the bulk of which $5.5 million was G&A with an additional $733,000 in depreciation and amortization. This brought our loss from operations to $5.8 million, up from $1.9 million in the same period last year, a reflection of our aggressive investment in infrastructure, talent and innovation to support future gains. We also recorded $3.2 million in net and other net expenses, primarily driven by interest on debt financing. This brought our net loss available to common shareholders to $8.9 million or $1.6 per share compared to $2.7 million or $1.48 per share in Q1 2024. Despite these near-term losses, our balance sheet reflects growing strength. We closed the quarter with $2.1 million in cash, a 31% increase from $1.6 million at year-end. Accounts receivables also saw a significant growth, rising to $3.9 million, more than doubling from $1.6 million in Q1 2024, reflecting the strong sales momentum. Additionally, we successfully raised over $50 million in equity financing during the quarter, a strong vote of confidence in our strategy and a critical infusion of capital to fuel our bold national expansion. Back to you, Michael. Michael Farkas Thanks, Joel. As we look ahead, our focus is anchored in five bold growth initiatives that position NextNRG at the forefront of energy innovation. Number one, we're making significant progress on our first smart microgrid deployment in Northern Florida, a major milestone in our vision to create resilient, intelligent energy systems that operate at the edge of the grid. In South Florida, we're developing a cutting-edge wireless EV charging pilot featuring bidirectional capabilities, a glimpse into a future where vehicles aren't just consumers of energy, but active participants in the grid. Number three, our mobile fueling operations are accelerating at full throttle. We're now live in more than a dozen major cities and expanding rapidly, delivering convenience and sustainability at scale. Number four, we're locking new revenue streams by activating SaaS and licensing models tied to our proprietary energy infrastructure technologies. And five, we are finally finalizing a partnership with a seasoned industry financer in the sustainable energy sector. And together, we will secure financing, advance our technology and scale our 1 gigawatt -- over 1 gigawatts of utility microgrid projects in our pipeline. We believe we are uniquely positioned at the nexus of mobile logistics, AI-powered energy infrastructure and clean transportation. Thank you to our employees, partners and shareholders. Your belief in our mission powers everything we do. Operator And at this time we will now begin the question-and-answer session. Jeff Ramson I'm sorry, I was on mute. I'm going to share questions that we received from investors. Michael, where are you with wireless charging? Michael Farkas Great question. As mentioned earlier, we are in the process of deploying and developing a prototype pilot in Southern Florida that for the first time anywhere on the planet is going to incorporate wireless charging and bidirectional capabilities. That's something that we have a patent on, and we're going to be deploying that technology. In addition, because of the needs of certain customers of ours, especially those that are heavily invested in warehouses, logistics, delivery and so on and through conversations with our biggest customer, we see that there's a major need of this technology, not just outside on the streets, but literally in these facilities and not just for passenger vehicles, but for forklifts and robotics and all these types of equipment that are currently being used by these companies. And because of them not being able to be charged wirelessly and in motion, they need a substantial amount more of that equipment in order that once it's charging and offline that they have other equipment operating. And through our technology, certain equipment, these vendors will be able to reduce the amount of -- by [a third and other equipment by a half] and considerably change the entire footprint of these locations. So this technology that we have on the wireless charging side is not just for passenger vehicles and delivery vehicles, but it could really be used. And I believe the biggest beneficiaries are -- it's going to be inside the buildings, inside these manufacturing facilities, inside these logistical centers. So we're very excited about being able to show our technology in that environment as well. Jeff Ramson Another question I have here is, how do you view NextNRG's differentiation versus other mobile fueling or microgrid players in the market? Michael Farkas Excellent question. I think when you understand our business and you look at the EzFill component and you look at our smart microgrid technologies and you look at smart microgrid and you combine all of this together, you really realize that it's a solution that's necessary. There's no other company today that can literally fill your internal combustion engine vehicle at your facility now, assist you with providing charging services for the vehicles that you're using today that may need some wires and then also provide you with wireless charging in the future. But it's not only that. The smart microgrid component allows us to generate that electricity at your location. So you don't have to rely solely upon the grid. So the biggest problem today, and most people don't realize this, for fleets to be able to go ahead and electrify, it's not about getting a charging station anymore. It's not about getting the vehicles. Those are plenty. You get massive of those. The problem today is actually getting the power at these locations to be able to provide the fuel for those vehicles. And the only company today that can really hold your hand and take you through that entire process and assist you in not only producing the energy for your vehicles, but for your entire facility. That's what having all of these different components of our business allows us to do. We could fill your vehicle today with EzFill. We could charge your vehicle today using typical means. In the future, we'll be able to use wireless charging. And at the same time, we'll be able to power your facility store the energy there and then allow that energy to be used not only for your fleets and for mobility, but literally for your electronics, for your air conditioning, for your computers, for your robotics. That really separates us from every other single player out there. There's no one that has these capabilities internally. And more importantly, nobody has the technology, the IT and the patents that we do that allow us to provide these services. Jeff Ramson Great. One other question. So can you talk about AI-powered energy infrastructure and maybe some examples of how it's being implemented? Michael Farkas Yes. Okay. So when you're looking at a broad-based grid scale deployment of AI, it really hasn't been done except for one place, which is Florida Power Light. The technology that was developed in that $850 million Department of Energy collaboration between NextNRG, Florida Power Light, FIU, which is the university that we got the technology from and the Department of Energy, that really was the first implementation of AI and machine learning broad-based deployment throughout the utility grid. And what happened was that technology took FPL from being one of the worst performing utilities in the United States to literally the most efficient in the world. And all of that technology that was developed under that program ultimately is now ours. We licensed -- we acquired a company that licensed all of that technology. There was a portfolio of patents, four of them pertain to smart microgrid and utility operating system technologies and three of them were focused on wireless EV charging. It's very important to note that on our utility operating system technology, that's really where you see the deployment of AI throughout the grid. The efficiencies that Florida Power Light receives now allowed them in 2024 to reduce the cost of electricity to their consumers twice. No other utility in the world was able to do that. And really, what this technology does is it allows utility grids to better predict what actual demand is going to be. The way utility grid works today is there's supply and demand, and they always need to create way more supply than demand requires because it's not, if there's ever a spike, that's when you have brownouts and blackouts and issues that you see in Puerto Rico and what we saw in Europe the last couple of weeks. So what our technology does, it's able to monitor and understand and predict what that actual demand is going to be. And then we're able to supply the right amount of electricity for that. You're talking savings 10%, 12%, 15% and even 17%. These are massive, massive savings. And it's very, very, very beneficial for utilities to implement this technology. No one has done it besides FPL. Our role now after gaining control of this technology is to allow and assist other utilities to deploy that exact same technology. Jeff Ramson Got it. Okay. Great. I don't have any other questions here, Michael. Operator This concludes our question-and-answer session. I would like to turn the conference back over to Michael Farkas for any closing remarks. Michael Farkas Yes, it was a pleasure. Keep on focusing on looking at what we're doing. Every day, we're having additional developments. We're at really an amazing point in the business. We're starting to really see a major convergence between all of these different services. There are many, many fleet operators out there, hundreds of millions of vehicles globally that need services that we provide. And little by little, we're getting that traction, and we believe that we're going to make a big impact in the energy markets globally. Thank you. Operator The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.
Yahoo
27-04-2025
- Business
- Yahoo
NextNRG Inc. (NXXT): Among The High Growth Utility Stocks To Invest In Now
We recently published a list of . In this article, we are going to take a look at where NextNRG Inc. (NASDAQ:NXXT) stands against other best high growth stocks to invest in. Power and utilities companies are facing a tough challenge in making clean, renewable energy more affordable and abundant. With electricity demand growing due to factors like more manufacturing, electrification, and increased data center use, utilities need to quickly expand their infrastructure while keeping energy reliable, rates low, and meeting decarbonization targets. While financing this expansion may be difficult with higher capital costs, there are opportunities to tap into funding from new initiatives like the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA). According to Deloitte, data centers alone could triple their energy use by 2030, while EV sales and heat pump installations are rising steadily with support from state and federal incentives. To keep up, utilities are focusing on power generation, and solar is leading the way with massive growth. However, natural gas is still the biggest player, though its share might dip next year. Utilities are investing more than ever, with roughly $174 billion spent in 2024, to upgrade and expand the grid. At the same time, they are dealing with supply chain delays, rising costs from extreme weather, and slower regulatory processes. All of this means consumers are likely to see higher electricity bills in the coming years, with wholesale prices expected to rise nearly 20% between 2025 and 2028. Spending on renewables is on the rise as well, and it is expected to top $25 billion in 2025 and hit $31 billion by 2027. That growth is backed by falling tech costs, government support, and strong demand from both consumers and corporations. Still, connecting faraway renewable sources to where people actually live will require a lot more transmission lines. Natural gas is crucial, especially as backup for renewables and to meet surging data center demand. Long-term gas investments are focused on safety, infrastructure upgrades, and newer uses like hydrogen blending. Utility stocks, usually seen as slow movers, have been on a surprising hot streak this past year. With big gains in utility stocks and ETFs, it is becoming harder for investors to find affordable, dividend-paying utility stocks. According to Brent Coggins from Triad Wealth Partners, the strategy has shifted, and investors cannot just chase dividends anymore. Now, it is about finding utility companies that are ready to grow, adapt to climate demands, and expand nuclear capabilities. Basically, utilities are looking more like growth stocks than the traditional income plays they used to be. Recent market jitters, like the sell-off caused by Chinese AI startup DeepSeek, temporarily dragged down both AI-related tech and utility stocks. However, analysts like Julien Dumoulin-Smith from Jefferies still recommend focusing on stable, lower-risk names that pay solid dividends. Meanwhile, JPMorgan sees long-term potential in natural gas utilities too, despite the recent dip. Analyst Jeremy Tonet believes demand for natural gas, especially from power-hungry data centers, is not going away anytime soon. With that market outlook in mind, let's take a look at some high-growth stocks in the utility sector. A utility employee connecting wires at a power station in order to distribute electricity to customers. For this article, we used the Finviz screener to filter out utility stocks with 5-year revenue growth exceeding 20%, verifying this data through additional sources. We selected 11 stocks with the highest revenue growth manually. We have also mentioned the number of hedge fund holders in each firm as per Insider Monkey's Q4 2024 database. The stocks are ranked in ascending order based on the average 5-year revenue growth. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). Number of Hedge Fund Holders: N/A Average 5-Year Revenue Growth: 71.15% NextNRG Inc. (NASDAQ:NXXT) provides mobile fueling services in the United States, offering both on-demand and subscription-based fuel delivery for individuals, fleets, and marine clients. The company is also working on innovative solutions like wireless EV charging, battery storage, solar energy systems, and smart grid technology. It is one of the best high growth stocks to watch. NextNRG Inc. (NASDAQ:NXXT)'s revenue came in at $6.15 million for March 2025, up 161% year-over-year. Fuel deliveries also skyrocketed by 210%. For Q1 overall, revenue climbed to $16.2 million, nearly triple the volume from the same period last year. NextNRG's strategic acquisitions and partnerships with major fleet operators are proving successful, driving increased demand for its mobile fueling platform. The company is also preparing to launch its smart microgrid systems and wireless EV charging technology. On April 4, NextNRG Inc. (NASDAQ:NXXT) announced the expansion of its partnership with Sunbelt Rentals by taking its mobile fueling services to Texas, building on its existing work with Sunbelt in Florida. NextNRG will now fuel Sunbelt's equipment directly at job sites and rental branches across the state. The company also launched a custom fueling portal so Sunbelt teams can schedule deliveries, track activity, and access real-time reports. Overall, NXXT ranks 3rd among the high growth utility stocks to invest in now. While we acknowledge the potential of NXXT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NXXT but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
28-03-2025
- Business
- Yahoo
NextNRG (NXXT) Slashes Energy Costs by 10% with AI Utility OS
We recently published a list of . In this article, we are going to take a look at where NextNRG Inc. (NASDAQ:NXXT) stands against other AI news and analyst ratings you probably missed. The fast-paced advancement and adoption of AI raises questions about its regulation, impact on human capabilities, and global competition. While some fear AI may reduce critical thinking, others, like Reid Hoffman, co-founder of LinkedIn and partner at Greylock, see it as a tool for improving human potential when used thoughtfully. In a March 24 interview with Bloomberg, he emphasized the importance of responsible development, advocating for safeguards against major risks while allowing AI to evolve through real-world applications. Hoffman also highlighted the role of significant industry leaders in shaping AI's future and acknowledged the economic competition between the West and China, stressing the need for continued innovation and strategic leadership. Hoffman believes that AI serves as a powerful tool for expanding human capabilities rather than replacing critical thinking. He described it as one of the most advanced educational technologies ever created, allowing users to explore a vast range of topics interactively. While concerns exist that AI might discourage independent thought, he argued that it can instead improve problem-solving skills when used as a complement to human intelligence. Hoffman also acknowledged AI bias and agreed that complete neutrality is difficult, as human perspectives constantly evolve. However, he pointed out that leading AI labs are actively working to reduce biases in their models. He compared AI's transformative impact to the Industrial Revolution, emphasizing that while such advancements bring challenges, they also lead to widespread progress. He believes AI should be designed to boost human agency and be broadly accessible, similar to how smartphones are used by people from all walks of life. He said: 'So your Uber driver has the same iPhone that Tim Cook has, that's the kind of inclusion that we're targeting.' On the regulation side, Hoffman advocates for a cautious approach, recommending that initial restrictions focus on preventing serious threats like cybercrime and terrorism rather than minor inaccuracies or biases. He supports an iterative regulatory model, where adjustments are made based on real-world applications, much like how car safety regulations evolved. When the discussion moved to AI leadership, he credited Sam Altman with driving OpenAI's success and praised other major figures like Kevin Scott (Microsoft), Dario Amodei (Anthropic), and James Manyika (Google) for their collaborative approach to AI development. When asked about Elon Musk's influence, Hoffman differentiated between the risks entrepreneurs take in business and those that governments must manage, emphasizing that national stability requires more cautious decision-making. While discussing China's role in AI, Hoffman believes there is an ongoing economic competition between the West and China, with the Chinese government aiming to lead in AI by 2030. While some compare this to an arms race, he sees it primarily as an economic rivalry, where maintaining technological leadership is crucial for global competitiveness. He called the current competition 'the economic race.' For this article, we selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey's Q4 database of over 1000 hedge funds. At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). bikeriderlondon/ Number of Hedge Fund Holders: N/A NextNRG Inc. (NASDAQ:NXXT) is a mobile fueling company providing on-demand fuel services across multiple markets in Florida. In a PRISM MarketView interview published on March 24, Michael Farkas, founder of NextNRG and Blink Charging, discussed NextNRG's role in the evolving energy sector. The company has developed a unique AI-driven Utility Operating System, optimizing energy distribution and reducing costs by over 10%. It serves 6 million customer accounts, and it integrates AI and machine learning to improve efficiency, especially in decentralized energy and microgrid deployment. The recent $25 billion ADQ-ECP investment in U.S. energy infrastructure highlights the rising demand for AI-powered energy solutions. NextNRG is positioned to support this shift by offering scalable, reliable power for AI-driven industries through smart grid and microgrid technologies. Farkas explained that his experience with Blink Charging led him to launch NextNRG, aiming to revolutionize energy infrastructure by integrating AI-driven solutions, microgrids, and advanced fueling technologies. Overall, NXXT ranks 12th on our list of AI news and analyst ratings you probably missed. While we acknowledge the potential of NXXT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NXXT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 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