Ezfill Holdings Inc Stock Price, News & Analysis

EzFill Holdings (NASDAQ: EZFL) announced a reverse stock split to maintain its Nasdaq listing, effective April 27, 2023. The split will consolidate every 8 shares into 1, reducing the total from approximately 28.8 million to 3.6 million shares. This move is aimed at increasing the share price above the $1.00 minimum bid requirement.

Arthur Levine, CFO, emphasized that this step is crucial for enhancing shareholder value and ensuring the company meets listing standards. EzFill aims to disrupt the traditional gas station model with its mobile fueling services, which have gained traction in a declining gas station market, positioning itself favorably in a rapidly growing industry.

EzFill Holdings, an emerging leader in the mobile fuel industry, has announced the immediate resignation of CEO Mike McConnell to pursue other interests. Co-founder Yehuda Levy has been appointed as the Interim CEO while the search for a permanent successor begins. Levy has been integral to EzFill since its inception in 2016 and has held various roles, including Vice-President of Operations. The company has also appointed Avi Vaknin as the new Chief Technology Officer, responsible for advancing the technology strategy in mobile fueling. Vaknin brings substantial experience from his previous ventures and aims to enhance customer experience through innovative solutions. Both appointments are expected to sustain EzFill's growth trajectory.

EzFill has launched a pilot program with SaverOne to enhance driver safety by equipping selected fuel delivery trucks with technology that limits cell phone access while driving. This initiative aims to reduce distractions and potentially lower the risk of accidents. CEO Mike McConnell expressed enthusiasm for testing this unique technology in the U.S., indicating plans to expand its application within their fleet and to future customers. The partnership underscores EzFill's commitment to innovation in the mobile fuel industry and aligns with broader trends in transportation safety.

EzFill Holdings (NASDAQ: EZFL), a leader in the mobile fuel industry, has announced that CEO Mike McConnell will speak at the Industrial Tech Virtual Conference on March 21, 2023, at 3:30 p.m. ET. The conference, hosted by Maxim Group and M-Vest, will explore new technology trends impacting various industrial sectors. With a focus on emerging opportunities, panel discussions will cover topics such as drones, clean energy, and medical tech markets. EzFill aims to disrupt conventional fueling methods by offering on-demand services that enhance convenience and efficiency. For participation, users can register at M-Vest.com.

EzFill Holdings reported a 108% increase in revenue for 2022, reaching $15 million, up from $7.2 million in 2021. The fourth quarter saw revenue rise to $4.9 million, a 143% increase year-over-year, supported by a 115% increase in gallons delivered. Despite growth, the company faced a net loss of $17.5 million for the year compared to $9.3 million in 2021, largely due to impairment charges. Operating expenses rose 56% to $12.7 million. The company added over 100 new fleet accounts in 2022 and expanded to new markets. EzFill aims to continue its growth trajectory while focusing on cost efficiency and service innovations.