NextNRG (NXXT, Financial) is set to become part of the Russell 2000 and Russell 3000 Indexes as announced by FTSE Russell. This development highlights the company's innovative use of technology, such as the Next Utility Operating System and smart microgrid solutions, to revolutionize energy production and management. Additionally, NextNRG's offerings include wireless EV charging and mobile fuel delivery services. The official transition will occur at the end of trading on June 27, 2025, with the updated indexes beginning trading on June 30, 2025.
NXXT Key Business Developments
Release Date: May 22, 2025
- Revenue: $16.3 million in Q1 2025, a 146% increase from $6.6 million in Q1 2024.
- Delivery Volumes: 4.7 million gallons, up 183% from 1.7 million gallons in Q1 2024.
- Cost of Sales: $15.8 million, up from $6.1 million in the previous year.
- Gross Profit: Approximately $517,000.
- Operating Expenses: $6.3 million, including $5.5 million in G&A and $733,000 in depreciation and amortization.
- Loss from Operations: $5.8 million, up from $1.9 million in Q1 2024.
- Net Loss: $8.9 million or $1.6 per share, compared to $2.7 million or $1.48 per share in Q1 2024.
- Cash: $2.1 million, a 31% increase from $1.6 million at year-end.
- Accounts Receivables: $3.9 million, more than doubling from $1.6 million in Q1 2024.
- Equity Financing: Over $50 million raised during the quarter.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Revenue increased by 146% year over year to $16.3 million in Q1 2025, driven by mobile fueling operations and strategic acquisitions.
- Delivery volumes rose by 183%, highlighting successful integration of Shell and Yoshi fleet assets and onboarding of major national accounts.
- Expansion into multiple new states, enhancing national footprint and market reach.
- Strong technology pipeline with developments in smart microgrids and wireless EV charging, positioning the company for future growth.
- Successful equity financing raised over $50 million, providing critical capital for national expansion and strategic initiatives.
Negative Points
- Cost of sales increased significantly to $15.8 million, narrowing gross margins due to strategic spending on fleet scaling and expansion.
- Operating expenses rose to $6.3 million, leading to a loss from operations of $5.8 million, reflecting aggressive investment in infrastructure and talent.
- Net loss available to common shareholders increased to $8.9 million, up from $2.7 million in Q1 2024.
- Interest on debt financing contributed to $3.2 million in net and other net expenses.
- Despite revenue growth, the company faces challenges in achieving profitability due to high operational and expansion costs.
