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]
EzFill (EZFL) - 2025 Q1 - Earnings Call Transcript