Ezfill Holdings, Inc. ( (NXXT) ) has released its Q1 earnings. Here is a breakdown of the information Ezfill Holdings, Inc. presented to its investors.
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NextNRG, Inc., formerly known as EzFill Holdings, Inc., is a renewable energy company that focuses on developing and deploying wireless electric vehicle charging technology integrated with battery storage and solar energy solutions. The company operates in the energy sector and is known for its innovative approach to sustainable energy solutions.
In its latest earnings report for the quarter ended March 31, 2025, NextNRG, Inc. reported significant growth in sales, reaching $16.27 million compared to $6.60 million in the same period last year. Despite this increase in revenue, the company faced a net loss of $8.96 million, highlighting the challenges it faces in achieving profitability.
Key financial metrics revealed that while sales increased, the cost of sales and general administrative expenses also rose significantly, contributing to the operational loss. The company reported a substantial increase in accounts receivable and inventory, indicating expansion efforts. Additionally, the company raised $15.23 million through common stock issuance, which helped improve its cash position.
Looking ahead, NextNRG, Inc. is focused on expanding into new markets and enhancing its product offerings. The management remains optimistic about securing additional financing to support its growth initiatives and strategic collaborations. However, the company acknowledges the need to address its working capital deficit and accumulated losses to ensure long-term sustainability.