NextNRG (NXXT, Financial) has formed a strategic alliance with Hudson Sustainable Group, a seasoned player in global renewable energy and climate infrastructure investments. This partnership outlines a collaborative effort between the two companies to develop, finance, and implement a broad range of energy assets. These include large-scale solar power, battery storage solutions, distributed smart microgrids, wireless electric vehicle charging infrastructure, and NextNRG’s unique Next Utility Operating System.
As part of the partnership agreement, Hudson Sustainable Group will receive preferential consideration for funding specific projects within NextNRG’s growing national project pipeline. Additionally, this collaboration allows NextNRG to tap into Hudson-led development ventures in rapidly advancing sectors such as fleet electrification, data center power solutions, and municipal energy resilience.
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.
