Financial Data and Key Metrics Changes - Q2 revenue reached $19.7 million, an increase of $166 million year over year, with first half revenue totaling $36 million compared to $27.7 million for all of 2024 [15] - Gross profit was $1.6 million, up from $600,000 in Q1, with gross margin expanding from 3% in Q1 to 8% in Q2 [16] - Loss from operations was $30.8 million, including a non-cash stock-based compensation charge of $25.5 million, resulting in an adjusted operating loss of $5.2 million compared to $5.8 million in Q1 [17] Business Line Data and Key Metrics Changes - EZ Fill expansion generated $19.7 million in revenues for Q2, bringing total revenues to $36 million for 2025, exceeding the full year 2024 volume of $27.7 million [6] - The smart microgrid platform is gaining traction, with proposals for full smart microgrid solutions being requested by clients, indicating a shift towards AI-enabled energy solutions [7][8] Market Data and Key Metrics Changes - The company is expanding its EZ Fill footprint in 15 metro markets, up from 10, focusing on operational density and efficiency [6] - The sales pipeline is diversifying, targeting both behind-the-meter and in-front-of-the-meter solutions, indicating a broadening market approach [9] Company Strategy and Development Direction - The strategic focus includes expanding the EZ Fill footprint, scaling smart microgrid deployments, and advancing wireless charging commercialization [13] - The company aims to build a fully integrated energy platform powered by AI, emphasizing resilience and efficiency in energy infrastructure [5][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving breakeven in the coming quarters, driven by accelerating revenue, improving margins, and better cash efficiency [19] - The company acknowledges the need for digitizing the energy grid globally, with potential annual savings of over $5 trillion if their technologies are widely implemented [39] Other Important Information - The company is focused on maintaining a flexible balance sheet and plans to raise capital to support disciplined growth strategies [18] - Management clarified that their technology is agnostic to fuel sources, allowing for efficient energy production regardless of the method used [36] Q&A Session Summary Question: Can you elaborate on the flywheel concept and its impact on the business? - The flywheel refers to the integration of various technologies that create a comprehensive energy solution for different sectors, allowing for local energy generation and storage [24][25] Question: Can you discuss the California projects and their timing? - The California projects are healthcare-oriented, focusing on providing backup energy solutions mandated by law, utilizing both natural gas and solar technologies [28][30] Question: Can you explain the technology's agnostic nature to fuel sources? - The technology allows for efficient energy production from various fuel sources, ensuring redundancy and operational efficiency across different energy generation methods [34][36]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C., 20549 Date of Report (Date of earliest event reported): August 15, 2025 NEXTNRG, INC. (Exact name of registrant as specified in its charter) FORM 8-K (State or other jurisdiction of incorporation) (Commission File Number) CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Delaware 001-40809 84-4260623 (IRS Employer Identification No.) 67 NW 183rd Street, Miami, Florida 33169 (Address of principal executive ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______, 20___, to _____, 20___. Commission File Number 001-40809 NextNRG, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 84-4260623 (State or Other Juri ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 reached $16.3 million, representing a 146% increase year over year from $6.6 million in Q1 2024 [4][8] - Delivery volumes surged to over 4.7 million gallons, a staggering 183% increase from 1.7 million gallons in Q1 2024 [5] - Cost of sales increased to $15.8 million from $6.1 million in the previous year, resulting in a gross profit of approximately $517,000 [8] - Operating expenses totaled $6.3 million, leading to a loss from operations of $5.8 million, up from $1.9 million in the same period last year [9] - Net loss available to common shareholders was $8.9 million or $1.6 per share, compared to $2.7 million or $1.48 per share in Q1 2024 [9][10] - Cash at the end of the quarter was $2.1 million, a 31% increase from $1.6 million at year-end [10] Business Line Data and Key Metrics Changes - The mobile fueling operations have expanded significantly, now live in more than a dozen major cities [12] - The technology pipeline includes developments in smart microgrids and wireless EV charging, indicating a strong focus on innovation [6][12] Market Data and Key Metrics Changes - The company has expanded its footprint across multiple new states, reflecting a growing demand for its fueling solutions [6] - Accounts receivables more than doubled to $3.9 million from $1.6 million in Q1 2024, indicating strong sales momentum [10] Company Strategy and Development Direction - The company is focused on five growth initiatives: smart microgrid deployment, wireless EV charging, mobile fueling operations, SaaS and licensing models, and partnerships for financing and technology advancement [11][12] - The strategy emphasizes the integration of mobile logistics, AI-powered energy infrastructure, and clean transportation [12] Management's Comments on Operating Environment and Future Outlook - Management views the first quarter of 2025 as a transformational period, highlighting the strength of their vision and execution [4] - The company is positioned to define the future of energy through innovative solutions and strategic partnerships [6][11] Other Important Information - The company successfully raised over $50 million in equity financing during the quarter, reflecting confidence in its strategy [10] Q&A Session Summary Question: Where are you with wireless charging? - The company is developing a prototype pilot in Southern Florida, incorporating wireless charging and bidirectional capabilities, which is a first globally [15][16] Question: How do you view NextEra Energy's differentiation versus other mobile fueling or microgrid players in the market? - The company offers a unique combination of services, including internal combustion engine fueling, charging services, and smart microgrid technology, which sets it apart from competitors [18][21] Question: Can you talk about AI-powered energy infrastructure and examples of its implementation? - The company has developed AI technology in collaboration with Florida PowerLight, which has significantly improved utility efficiency and reduced electricity costs for consumers [22][24]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 reached $16.3 million, representing a 146% increase year over year from $6.6 million in Q1 2024 [4][8] - Delivery volumes surged to over 4.7 million gallons, a staggering 183% increase from 1.7 million gallons in Q1 2024 [5] - Cost of sales increased to $15.8 million from $6.1 million in the previous year, resulting in a gross profit of approximately $517,000 [8] - Operating expenses totaled $6.3 million, leading to a loss from operations of $5.8 million, up from $1.9 million in the same period last year [9] - Net loss available to common shareholders was $8.9 million or $1.6 per share, compared to $2.7 million or $1.48 per share in Q1 2024 [9][10] - Cash at the end of the quarter was $2.1 million, a 31% increase from $1.6 million at year-end [10] Business Line Data and Key Metrics Changes - The mobile fueling operations significantly contributed to revenue growth, with expansion into multiple new states and onboarding major national accounts [5][6] - The technology pipeline includes developments in smart microgrids and wireless EV charging, indicating a strong focus on innovation [6] Market Data and Key Metrics Changes - The company is expanding its footprint across the nation, indicating a growing demand for its fueling solutions [5] - The partnership with the world's largest e-commerce company highlights the caliber of the company's capabilities in the market [5] Company Strategy and Development Direction - The company is focused on five bold growth initiatives, including smart microgrid deployment, wireless EV charging, and activating new revenue streams through SaaS and licensing models [11][12] - A partnership with an industry financer in the sustainable energy sector is being finalized to secure financing and advance technology [12] Management's Comments on Operating Environment and Future Outlook - Management views the first quarter as a transformational period, emphasizing the strength of their vision and execution [4] - The company is positioned at the nexus of mobile logistics, AI-powered energy infrastructure, and clean transportation, indicating a forward-looking strategy [12] Other Important Information - The company raised over $50 million in equity financing during the quarter, reflecting confidence in its strategy and providing capital for expansion [10] Q&A Session Summary Question: Where are you with wireless charging? - The company is developing a prototype pilot in Southern Florida, incorporating wireless charging and bidirectional capabilities, with significant interest from customers in logistics and warehousing [15][16] Question: How do you view NextEra Energy's differentiation versus other mobile fueling or microgrid players in the market? - The company offers a unique combination of services, including internal combustion engine fueling, charging services, and smart microgrid technology, which sets it apart from competitors [17][18][19][20][21] Question: Can you talk about AI-powered energy infrastructure and examples of its implementation? - The company has developed AI and machine learning technology in collaboration with Florida PowerLight, significantly improving utility efficiency and reducing electricity costs for consumers [22][23][24][25][26]

Financial Position - As of March 31, 2025, accounts receivable totaled $3,985,715, with a net amount of $3,903,943 after an allowance for doubtful accounts of $81,772[125]. - Inventory as of March 31, 2025, was valued at $221,113, an increase from $126,400 as of December 31, 2024[130]. - The company reported no deferred revenue as of March 31, 2025, and December 31, 2024, indicating all revenue was recognized upon delivery or over time[188]. - The Company reported total property and equipment of $8,986,618 as of March 31, 2025, an increase from $7,539,507 as of December 31, 2024, reflecting growth in assets[243]. - Total accounts payable and accrued liabilities increased to $2,252,020 as of March 31, 2025, up from $1,721,527 as of December 31, 2024[249]. - The total face amount of notes payable as of March 31, 2025, is $20,428,886, with a total debt discount of $(2,413,365) and total repayments of $(14,275,603) resulting in a net amount of $15,195,788[258]. Revenue Recognition - The company generated all revenues for the three months ended March 31, 2025, from mobile fuel sales, with revenue recognized at the time of delivery[170]. - Revenue from fuel sales is recognized at the time of delivery, while membership revenue is recognized at the end of each month, reflecting the satisfaction of performance obligations over time[169]. - Fuel sales accounted for $15,857,380, or 97.45% of total revenue in Q1 2025, compared to $6,403,612, or 97.07% in Q1 2024[189]. - The company recognizes revenue on a gross basis in fuel sales transactions, acting as the principal in these transactions[182]. Customer and Supplier Concentration - Customer A accounted for 43.09% of total sales for the three months ended March 31, 2025, compared to 0.00% in the same period of 2024, indicating a significant concentration risk[138]. - Total accounts receivable from major customers (A, B, and C) represented 58.84% of total accounts receivable as of March 31, 2025, up from 46.10% in 2024, highlighting increased reliance on a few key customers[140]. - Vendor A accounted for 51.57% of total vendor purchases for the three months ended March 31, 2025, compared to 0.00% in 2024, indicating a high dependency on a limited number of suppliers[141]. - The company actively seeks to diversify its customer base to reduce reliance on a small number of key accounts, which is part of its risk mitigation strategy[144]. Debt and Financing - The company has multiple loans with a 0% interest rate, indicating a strategy to minimize financing costs[258]. - The company has a significant amount of unsecured loans, totaling $20,428,886, which may impact its risk profile[258]. - The company entered into five unsecured, non-interest-bearing notes totaling $5,000,000 in October 2024, which were fully repaid in February 2025[283]. - The company executed a two-month loan for $2,500,000 in December 2024, incurring transaction fees of $440,000, and repaid the loan in March 2025[271]. - The company refinanced existing MCA loans to manage liquidity, which may lead to higher cumulative borrowing costs due to upfront fees and compounding effects[264]. Expenses and Costs - Marketing and advertising costs increased to $65,186 in Q1 2025 from $24,506 in Q1 2024, reflecting a rise of approximately 166.5%[207]. - Depreciation and amortization expense for Q1 2025 was $588,172, compared to $281,320 for Q1 2024, indicating a significant increase in asset utilization[248]. Risk Management - The company evaluates and discloses risks that could materially affect its financial condition, including industry cyclicality and macroeconomic conditions[102]. - The company has implemented credit risk management by regularly reviewing customer creditworthiness and adjusting credit terms as necessary[144]. - The company is responsible for fulfilling the obligation of delivering fuel to customers and is exposed to inventory risk due to fuel procurement[185]. Tax and Valuation - The company has recorded a full valuation allowance against its deferred tax assets, resulting in a net carrying amount of $0 as of March 31, 2025[201]. - The Company is assessing the impact of ASU 2023-09 on its income tax disclosures, which may enhance reporting requirements starting after December 15, 2024[236].

Financial Results - NextNRG, Inc. announced preliminary unaudited revenue results for March 2025 and Q1 2025[4] - The press release detailing these results was issued on April 10, 2025[4] Company Classification - The company is classified as an emerging growth company under the Securities Act[3]

Financial Data and Key Metrics Changes - Total revenue for 2024 was $27.8 million, an increase of 19.6% from $23.2 million in 2023, driven by higher average selling prices and increased fuel volumes in the mobile fueling segment [10][12] - Cost of sales rose to $25.5 million from $21.9 million, resulting in a gross profit of $2.3 million and an improved gross margin of 8%, up from 6% [10][12] - Operating loss narrowed to $7.3 million from $8.5 million in 2023, while net loss increased to $16.2 million or $4.66 per share compared to $10.5 million or $6.98 per share in 2023 [12] Business Line Data and Key Metrics Changes - Gallons delivered grew to 7.2 million from 5.6 million, representing a growth of 24% [10] - Operating expenses slightly decreased to $9.6 million from $9.9 million, including $8.5 million in general and administrative expenses [10] Market Data and Key Metrics Changes - The mobile fueling solution expanded into five additional states through the acquisition of Shell Oil's fleet, more than doubling operational capacity [12] - Year-to-date as of February 2025, over 2.8 million gallons were delivered compared to 1.1 million gallons in the same period in 2024, translating to revenue growth of $10.1 million compared to $4.2 million [13] Company Strategy and Development Direction - The company is transitioning from a last-mile fuel company to a comprehensive energy technology company, focusing on AI, clean energy, and mobile fueling [5][14] - Key strategic initiatives for 2025 include executing utility-scale smart microgrid deployments, launching wireless EV charging pilots, expanding the mobile fueling network, and generating recurring revenue through licensing and SaaS agreements [14] Management's Comments on Operating Environment and Future Outlook - Management believes 2025 will be a breakout year, with expectations of consistent growth driven by expanded client relationships and acquisitions [16][18] - The company anticipates recognizing revenue from smart microgrid projects starting in 2025, with long-term revenue streams defined for up to 35 years [20][21] Other Important Information - The company is actively evaluating financing options and strategic partnerships to support its growth plan for 2025 [13] Q&A Session Summary Question: What drove the 20% year-over-year revenue increase? - The increase was driven by an expanded client base, cultivation of new relationships, and acquisitions including Shell Oil's fleet and Yoshi's mobile fueling business [16][17] Question: When do you expect to recognize revenue from the smart microgrid projects? - Revenue is expected to be recognized in 2025, with the first project breaking ground this year and revenue streams defined for 35 years [19][20] Question: What is the current stage of your wireless EV charging technology? - The company plans to deploy its first wireless charging road in Southern Florida this year, with pilot phases expected to begin soon [22][23] Question: Will M&A be part of your strategy moving forward? - Yes, M&A will be a significant part of the growth strategy, as evidenced by recent acquisitions of Yoshi's and Shell's assets [25]

Financial Data and Key Metrics Changes - Total revenue for 2024 was $27.8 million, an increase of 19.6% from $23.2 million in 2023, driven by higher average selling prices and increased fuel volumes in the mobile fueling segment [9][11] - Cost of sales rose to $25.5 million from $21.9 million, resulting in a gross profit of $2.3 million and an improved gross margin of 8%, up 200 basis points from 6% [9][10] - Operating loss narrowed to $7.3 million from $8.5 million in 2023, while net loss increased to $16.2 million or $4.66 per share compared to $10.5 million or $6.98 per share in 2023, largely due to one-time non-operational expenses [10][11] Business Line Data and Key Metrics Changes - Gallons delivered grew to 7.2 million from 5.6 million, representing a growth of 24% [10] - Operating expenses slightly decreased to $9.6 million from $9.9 million in 2023, with G&A expenses at $8.5 million and depreciation and amortization at $1.1 million [10] Market Data and Key Metrics Changes - As of February 2025, the company delivered over 2.8 million gallons compared to 1.1 million gallons in the same period in 2024, translating to revenue growth of $10.1 million compared to $4.2 million [12] Company Strategy and Development Direction - The company is transitioning from a last-mile fuel company to a comprehensive energy technology company, focusing on AI, clean energy, and mobile fueling [5][13] - Key strategic initiatives for 2025 include executing utility-scale smart microgrid deployments, launching wireless EV charging pilots, expanding the mobile fueling network, and generating recurring revenue through licensing and SaaS agreements [13] Management's Comments on Operating Environment and Future Outlook - Management believes 2025 will be a breakout year, with expectations of consistent growth driven by an expanded client base and strategic acquisitions [11][17] - The company is actively evaluating financing options and strategic partnerships to support its growth plan for 2025 [12] Other Important Information - The company made significant progress on its smart microgrid platform with approximately $750 million in planned deployments [6] - The company is advancing its wireless EV charging systems, which include bidirectional, static, and dynamic charging capabilities [6][7] Q&A Session Summary Question: What drove the 20% year-over-year revenue increase? - The increase was driven by an expanded client base, cultivation of new relationships, and acquisitions including Shell Oil's fleet and Yoshi's mobile fueling business [16][17] Question: When do you expect to recognize revenue from smart microgrid projects? - Revenue is expected to be recognized in 2025 as projects break ground, with a revenue stream defined for approximately 35 years [19][20] Question: What is the current stage of wireless EV charging technology and expected commercial adoption? - The company plans to deploy its first wireless charging road in Southern Florida this year, with pilot phases expected to begin soon [22][23] Question: Will M&A be part of the strategy moving forward? - Yes, M&A will be a significant part of the growth strategy, with recent acquisitions already made in the mobile fueling sector [25]

Financial Position and Capital Needs - The company anticipates needing significant additional capital by June 30, 2025, to continue operations, as current liabilities substantially exceed current assets [178]. - The principal sources of liquidity are expected to be sufficient only through June 30, 2025, necessitating additional equity or debt capital [179]. - As of June 30, 2023, NextNRG's stockholders' equity was approximately $1,799,365, below the Nasdaq requirement of $2,500,000, and by June 30, 2024, the stockholders' deficit was ($4,833,450) [225]. - The Company raised approximately $28.75 million from its initial public offering, with net proceeds of about $25.25 million after expenses [255]. - A public offering on February 13, 2025, priced at $3.00 per share, is expected to generate net proceeds of approximately $13.3 million for business expansion and debt repayment [257]. - The Company has not paid any dividends and intends to retain earnings for operational and business development purposes [254]. Market and Competitive Environment - The retail fuel market has been declining, with modest growth or decline in total demand expected in the coming years, impacting customer acquisition [195]. - The company faces competition from other mobile fuel delivery companies and alternative energy sources, which may negatively affect market expansion [196]. - The company is in a highly competitive EV charging services industry, facing competition from larger companies with greater financial resources [212]. - NextNRG's revenue growth is highly dependent on consumer adoption of electric vehicles (EVs), which is still in its early stages [214]. - The company operates in a highly competitive industry, facing risks from market dynamics, economic fluctuations, and supply chain constraints [282]. Operational Challenges and Risks - The company is currently dependent on two principal suppliers for almost all fuel needs, increasing the risk of supply interruption [200]. - High fuel prices can lead to customer conservation and attrition, reducing demand for the company's products [191]. - The company operates in a new industry segment with evolving regulations, which may affect its ability to service certain areas [204]. - The company's profitability is subject to volatile fuel pricing, which can impact gross margins significantly [201]. - The loss of a major customer could lead to a decrease in future sales and earnings, as sales may be concentrated among a few key customers [203]. - The company has a limited operating history, making it difficult to evaluate its business prospects and forecast future results [206]. Financial Performance - Revenues for the year ended December 31, 2024, increased by 19.61% to $27,770,279 compared to $23,216,423 in 2023, driven by a rise in gallons delivered and average price per gallon [349]. - The company delivered 7,231,618 gallons in 2024, a 24% increase from 5,853,167 gallons in 2023, with the average fuel margin per gallon rising to $0.71, up 9% from $0.65 [371]. - Operating expenses decreased by 3.31% to $8,505,461 in 2024 from $8,796,223 in 2023, attributed to effective cost-management initiatives [349]. - The net loss for 2024 was $16,189,008, representing a 54.59% increase from the net loss of $10,471,889 in 2023 [367]. - Other income (expense) deteriorated significantly, with a net expense of $8,906,889 in 2024 compared to $1,938,329 in 2023, primarily due to increased interest expenses and losses on debt extinguishment [360]. - Interest expense surged to $8,248,642 in 2024, a 379.77% increase from $1,719,296 in 2023, largely due to default penalty interest of $4,475,565 [363]. - Adjusted EBITDA for 2024 was $5,315,782, a decrease of 11.61% from $6,013,755 in 2023 [371]. Revenue Recognition and Accounting Practices - Revenue from mobile fuel sales is recognized at the time of delivery, with membership revenue recognized at the end of each month [301]. - The company follows the five-step revenue recognition model outlined in ASC 606, ensuring enforceable rights and obligations in contracts with customers [302]. - The Company has determined that it is the principal in fuel sales transactions, recognizing revenue on a gross basis [311]. - The Company evaluates uncertain tax positions and had no uncertain tax positions that qualified for recognition or disclosure as of December 31, 2024 and 2023 [317]. - The Company continues to assess the impact of recently issued accounting standards on its financial statements, including ASU 2023-09 [345]. Corporate Governance and Compliance - The Company is classified as an "emerging growth company" under the JOBS Act, allowing for reduced disclosure requirements [233]. - The CEO controls approximately 68.14% of the Company's common stock, qualifying it as a "controlled company" under Nasdaq rules [236]. - The company received a delist determination letter from Nasdaq for not meeting the equity requirement, but has been granted extensions to regain compliance [227]. - The Company regained compliance with Nasdaq's Equity Rule as of August 30, 2024, but will be subject to a mandatory panel monitor for one year [229]. - On January 10, 2025, the Company was notified of non-compliance with Nasdaq's Annual Meeting Requirement, with a 45-day period to submit a compliance plan [231]. Cybersecurity and Risk Management - The Company maintains a comprehensive cybersecurity framework, leveraging Microsoft cloud services and third-party providers to mitigate risks [241].