Revenue Growth
Revenue of approximately $21.1 million in Q1 2026, up 29% year-over-year from $16.3 million in Q1 2025, driven primarily by expansion of mobile fueling operations and higher fuel volumes in existing markets.
Gross Profit and Margin Expansion
Gross profit increased to approximately $1.7 million versus $518,000 a year ago (more than tripled). Gross margin expanded to 8.1% from 3.2% (up ~4.9 percentage points), reflecting material improvement in unit economics.
Adjusted EBITDA Improvement
Adjusted EBITDA improved to approximately negative $1.2 million compared to negative $3.4 million in the prior-year period — an improvement of roughly $2.2 million, driven largely by stronger gross profit.
Interest Expense Reduction
Interest expense declined to approximately $681,000 from about $3.3 million year-over-year, a reduction of roughly 80%, reflecting lower financing-related charges and reduced amortization of debt discounts after 2025 refinancing.
Operational Efficiency Gains
Management cites structural operational improvements — route optimization, improved fleet utilization and greater customer density — which reduced cost per gallon delivered and were presented as sustainable drivers of margin expansion.
Large Microgrid Pipeline and Strategic Validation
Energy infrastructure pipeline of roughly $0.75 billion (commercial, healthcare, industrial, municipal, federal) provides longer-term growth potential. Company also noted external interest (PE inquiries) in its EzFill business and said it has simplified and improved its financial structure.