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].

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]

Company Overview - EZFill Holdings Inc. is transforming the energy landscape with innovative mobile fueling solutions and technologies in smart microgrids, renewable energy integration, and wireless EV charging [1] - The company is based in Miami and provides on-demand mobile fueling services directly to consumers and businesses, eliminating the need for traditional gas stations [2] Leadership and Strategy - Michael Farkas, founder and CEO of NextNRG, has taken over as CEO of the combined company following its merger with NextNRG Holding Corp [1] - Farkas, the largest shareholder, is leading the company's strategic growth towards a more sustainable energy future by integrating AI-driven energy solutions with EZFill's fueling technologies [1] Market Position and Trends - EZFill's market influence is solidified by strategic partnerships, positioning it as a key player in the energy transition towards smarter, cleaner, and more efficient energy solutions [2] - The decline in the number of gas stations in the U.S. has prompted corporate giants like Shell, Exxon, and GM to invest in the on-demand mobile fueling industry, recognizing the shift in consumer behavior [3] - EZFill is uniquely positioned to capitalize on the growing demand for convenient and cost-efficient mobile fueling options, as it provides fuel delivery across three verticals: consumer, commercial, and specialty [3]

Core Insights - EzFill Holdings, Inc. has completed the acquisition of a fleet of trucks from Shell, enhancing its operational capacity and expanding its service areas in Texas and Arizona [1][2][3] - The acquisition adds 73 trucks to EzFill's fleet, increasing the total to 139 trucks, which is expected to enable the delivery of approximately 16 million gallons of fuel in 2025 [2][3] - EzFill now operates in 14 markets across 6 states, aiming to deliver over 26 million gallons and generate more than $100 million in revenue in 2025 [3] Company Expansion - The transaction closed on December 27, 2024, allowing EzFill to officially commence operations in four new markets: Phoenix, San Antonio, Houston, and Austin, while expanding in Dallas [2] - The company has grown from a small operation with four trucks in Miami Beach to a significant player in the mobile fueling industry with a fleet of 139 trucks [3] Strategic Goals - EzFill's CEO emphasized the importance of fleet expansion and market entry as milestones towards achieving national operations and a strong market presence [3] - The company is focused on driving innovation, scaling its service model, and enhancing customer value across its expanding national footprint [3]

Core Viewpoint - EzFill Holdings Inc. has signed a definitive agreement to acquire the fueling division of Yoshi, Inc. to expand its operations across the U.S. and enhance its market presence [2][3]. Company Overview - EzFill is a Miami-based mobile fueling service that delivers fuel directly to consumers and businesses, focusing on convenience, safety, and efficiency [6][7]. - Yoshi Mobility is a tech-enabled mobility services provider that has raised over $60 million from strategic investors, including General Motors Ventures and ExxonMobil [4][8]. Acquisition Details - The acquisition will allow EzFill to operate in four new states: California, Tennessee, Texas, and Michigan, integrating Yoshi's assets and customer base into its infrastructure [3]. - EzFill plans to add diesel fueling services immediately in the new markets, which is expected to increase revenues [3]. - Yoshi will become shareholders in EzFill as part of the agreement, indicating a strategic partnership moving forward [4]. Strategic Intent - The acquisition is seen as a transformational step for EzFill, aligning with its vision to become a national leader in mobile fueling services [5]. - EzFill aims to meet the growing demand for on-demand fueling services, similar to trends seen in grocery and package delivery [5]. - The deal reflects EzFill's commitment to providing convenient, cost-effective, and environmentally friendly fueling solutions [5].