NextNRG (EZFL) Q1 2025 Earnings Call May 21, 2025 12:00 AM ET Company Participants Jeff Ramson - CEOMichael Farkas - CEOJoel Kleiner - CFO Operator Good day. And welcome to the NextEra Energy first quarter twenty twenty five financial call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Please note this event is being recorded. I would now like to turn the conference over to Jeff Ramson, CEO of PCG Ad ...

NextNRG (EZFL) Q1 2025 Earnings Call May 21, 2025 12:00 AM ET Speaker0 Good day. And welcome to the NextEra Energy first quarter twenty twenty five financial call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Please note this event is being recorded. I would now like to turn the conference over to Jeff Ramson, CEO of PCG Advisory. Please go ahead. Speaker1 Thank you, operator. Good morning, everyone ...

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]

NextNRG (EZFL) Q4 2024 Earnings Call March 27, 2025 06:00 PM ET Company Participants Jeff Ramson - CEOMichael Farkas - Executive Chairman & CEOJoel Kleiner - CFO Operator Good day, and welcome to the NextEra Energy Fourth Quarter and Full Year twenty twenty four Financial Call. All participants will be in a listen only mode. Please note this event is being recorded. You may submit questions throughout the event by clicking the word questions on your screen. Questions will be addressed after the formal prese ...

NextNRG (EZFL) Q4 2024 Earnings Call March 27, 2025 06:00 PM ET Speaker0 Good day, and welcome to the NextEra Energy Fourth Quarter and Full Year twenty twenty four Financial Call. All participants will be in a listen only mode. Please note this event is being recorded. You may submit questions throughout the event by clicking the word questions on your screen. Questions will be addressed after the formal presentation has ended. I would now like to turn the conference over to Mr. Jeff Ramson, CEO of PGG Adv ...

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].

Financial Performance - FY 2024 revenue increased by 20% to $27.8 million, up from $23.2 million in FY 2023[7] - FY 2024 gross profit grew by 64% to $2.3 million, compared to $1.4 million in FY 2023[7] - Q4 2024 revenue rose by 21% to $6.9 million, compared to $5.7 million in Q4 2023[7] - Q4 2024 gross profit more than doubled to $652,000, up from $330,000 in Q4 2023[12] Operational Metrics - Gallons delivered in Q4 2024 increased to 1.8 million, up from 1.5 million in the prior-year period[12] - Average fuel margin per gallon expanded to $0.71, compared to $0.65 in Q4 2023[12] Strategic Initiatives - The company completed a $15 million public offering in February 2025 to support growth and strengthen the balance sheet[8] - NextNRG is advancing wireless EV charging solutions through exclusive technology licenses from Florida International University[8] - The company expects to provide guidance on an expanded microgrid pipeline in the next quarter[8] - NextNRG aims to scale its AI/ML-powered energy solutions through SaaS contracts and infrastructure deployment in 2025[10]

Core Viewpoint - EzFill Holdings, Inc. has announced a public offering of 5 million shares at $3.00 per share, aiming to raise $15 million, and will undergo a name change to NextNRG, Inc. following a merger with NextNRG Holding Corp. [2][3][4] Group 1: Public Offering Details - The public offering consists of 5,000,000 shares priced at $3.00 each, generating gross proceeds of $15,000,000 before expenses [2][4] - Underwriters have a 45-day option to purchase an additional 750,000 shares to cover over-allotments [2][4] - The offering is expected to close on February 18, 2025, subject to customary closing conditions [3] Group 2: Company Name Change and Trading Information - Effective February 14, 2025, EzFill will change its name to NextNRG, Inc. and will trade under the new ticker symbol "NXXT" on the Nasdaq Capital Market [3][11] - The new CUSIP number for the company will be 652941105 [3] Group 3: Use of Proceeds - The proceeds from the offering will be utilized for business expansion, repayment of outstanding debt, and general corporate purposes, including working capital [4] Group 4: Strategic Focus of NextNRG - NextNRG aims to focus on renewable energy, mobile fueling, and next-generation energy infrastructure, leveraging AI and machine learning technologies [7][10] - The strategy includes deploying Smart Microgrids to enhance energy efficiency and support decarbonization initiatives [8][9] - The company plans to integrate sustainable energy solutions into its mobile fueling operations, expanding its fleet and national footprint [10][11]

Core Insights - Yoshi Mobility is entering a strategic partnership with CALSTART to enhance mobile EV charging solutions, aiming to fill gaps in the EV charging ecosystem [1][2][3] - The collaboration leverages CALSTART's experience in clean transportation and Yoshi Mobility's innovative technologies to accelerate the deployment of EV charging solutions [2][3] - Yoshi Mobility has provided EV charging solutions to major OEMs and fleet operators, managing hundreds of light-duty vehicles that require significant energy [2][4] Company Overview - Yoshi Mobility is a tech-enabled mobility services provider that has raised over $60 million from notable investors including General Motors Ventures and Bridgestone [4] - The company offers a range of services including on-site preventative maintenance and virtual vehicle inspections for partners like Uber and Turo [2][4] - CALSTART is a nonprofit organization focused on clean transportation, managing over $500 million in vehicle incentive programs and working with 285 member companies [5] Partnership Goals - The partnership aims to develop and demonstrate cutting-edge EV charging technologies [6] - It seeks to accelerate market adoption of emerging EV charging technologies [6] - The collaboration will also focus on policy initiatives to support ongoing innovation in EV charging [6]