NextNRG Inc
NASDAQ:NXXT
NextNRG Inc
NextNRG, Inc. engages in the provision of fuel delivery services. The company is headquartered in Miami, Florida and currently employs 54 full-time employees. The company went IPO on 2021-09-15. The firm is developing an integrated ecosystem that combines solar energy generation, battery storage, wireless electric vehicle (EV) charging, and on-demand fuel delivery by leveraging artificial intelligence (AI) and machine learning (ML) technologies. The firm is integrating sustainable energy solutions into mobile fueling operations. The firm focuses on providing renewable energy to its fueling partners, supporting efficient fuel delivery while advancing clean energy adoption. The company is engaged in the deployment of NextNRG Smart Microgrids, which utilize AI-driven energy management alongside solar power and battery storage. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities, and government properties.
NextNRG, Inc. engages in the provision of fuel delivery services. The company is headquartered in Miami, Florida and currently employs 54 full-time employees. The company went IPO on 2021-09-15. The firm is developing an integrated ecosystem that combines solar energy generation, battery storage, wireless electric vehicle (EV) charging, and on-demand fuel delivery by leveraging artificial intelligence (AI) and machine learning (ML) technologies. The firm is integrating sustainable energy solutions into mobile fueling operations. The firm focuses on providing renewable energy to its fueling partners, supporting efficient fuel delivery while advancing clean energy adoption. The company is engaged in the deployment of NextNRG Smart Microgrids, which utilize AI-driven energy management alongside solar power and battery storage. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities, and government properties.
Record Revenue Growth: NextNRG delivered Q3 revenue of $22.9 million, a 232% increase year-over-year, nearly matching its entire 2024 annual revenue in a single quarter.
Margin Expansion: Gross profit margin improved from 8% to 11% quarter-over-quarter, driven by operational efficiencies and volume-based supplier discounts.
Operational Execution: Management reported successful achievement of all Q2 strategic goals, including expansion into new markets and fleet growth.
Energy Infrastructure Momentum: The company signed two 28-year power purchase agreements, providing long-term revenue visibility and advancing its smart microgrid and battery storage projects.
Path to Profitability: Operating losses narrowed, with operating loss (excluding stock compensation) reduced to $3.4 million from $5.2 million in Q2; company says it is moving closer to positive cash flow.
Financial Flexibility: NextNRG refinanced its truck fleet and converted some debt to equity, improving its liquidity and simplifying its capital structure.
EV Charging Opportunity: The CEO is no longer under noncompete restrictions, enabling full participation in wired and wireless EV charging markets.
