NextNRG (NXXT, Financial) announced impressive financial results for June 2025, with revenues reaching $6.98 million, marking a 231% surge compared to the same period last year and a 6% increase over the previous month. The company delivered more than 2.04 million gallons, reflecting a 270% rise year-over-year and a 4% growth from the previous month. Year-to-date revenue through June stood at approximately $35.87 million, representing a 33% increase from the total revenue of about $27 million in 2024.
The CEO, Michael Farkas, highlighted the company's performance in achieving its sixth consecutive month of record revenue, attributing successes to the scalability of their AI-driven energy platform and strong market demand. With plans to acquire ReFuel Mobile in Canada and expand operations in six U.S. states with 144 active fuel delivery trucks, the company aims for $100 million in revenue over the next 12 months. NextNRG is on track to reach profitability by 2026, transforming into a sustainable and cash-generating enterprise, supported by its mobile fueling platform, microgrid projects, and strategic international growth.
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.
