NextNRG Q1 Revenue Up 29% to $21.1M, Gross Profit Triples
NextNRG’s Q1 revenue rose 29% year-over-year to $21.1 million, driving gross profit up to $1.7 million (8.1% margin). The company cut interest expense by 80% to $680 600 but still reported a net loss of $10.8 million, weighed down by $7.9 million in stock-based compensation.
1. Strong Revenue and Gross Profit Growth
NextNRG reported Q1 revenue of $21.1 million, up 29% year-over-year, driven by mobile fueling volume growth and higher average prices. Gross profit more than tripled to $1.7 million, lifting gross margin to 8.1% from 3.2% a year earlier through route optimization and fleet utilization improvements.
2. Cost Structure and Loss Drivers
Operating loss widened to $10.1 million as the company recorded $7.9 million in non-cash stock-based compensation, while interest expense declined by 80% to $680 600 following debt refinancing. Adjusted EBITDA improved to negative $1.2 million, reflecting lower financing costs and stronger gross profit partly offset by higher compensation charges.
3. Balance Sheet and Outlook
Cash and equivalents stood at $208 048 at quarter end, down from $2.1 million year-ago, alongside $2.9 million in receivables. Management is evaluating financing and strategic initiatives to support working capital needs and to scale its AI-driven microgrid, wireless EV charging, and fueling logistics platforms toward sustainable growth.