STOCK TITAN

NextNRG (NASDAQ: NXXT) grows Q1 revenue 29% but reports wider loss

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

NextNRG, Inc. reported first-quarter 2026 results with revenue up 29% year-over-year to $21.1 million, driven mainly by expansion in mobile fueling operations and higher fuel volumes and pricing. Gross profit rose to $1.7 million and gross margin improved to 8.1% from 3.2% as route optimization and fleet efficiency improved.

Despite these gains, the company posted a loss from operations of $10.1 million and a net loss of $10.8 million available to common stockholders, both wider than a year ago, largely due to $7.9 million of non-cash stock-based compensation. Interest expense fell sharply to $0.7 million from $3.3 million, helping Adjusted EBITDA improve to a loss of $1.2 million from a $3.4 million loss. Cash and cash equivalents were $0.2 million as of March 31, 2026, with total assets of $12.3 million, while management evaluates financing and strategic options to support working capital and growth across its microgrid, wireless EV charging, and mobile fueling businesses.

Positive

  • Stronger top-line and margin performance: Q1 2026 revenue rose 29% year-over-year to $21.1 million, gross profit more than tripled to $1.7 million, and gross margin expanded from 3.2% to 8.1%, showing better economics in mobile fueling operations.
  • Improved EBITDA and lower interest burden: Adjusted EBITDA loss narrowed to $1.2 million from $3.4 million, supported by an 80% reduction in interest expense to $0.7 million following earlier refinancing activity.

Negative

  • Wider losses and low cash balance: Loss from operations increased to $10.1 million and net loss reached $10.8 million available to common stockholders, while cash stood at only $0.2 million as of March 31, 2026, highlighting ongoing funding pressure.

Insights

Revenue and margins improved, but losses and liquidity remain key issues.

NextNRG delivered Q1 2026 revenue of $21,059,130, up 29% year-over-year, with gross profit increasing to $1,711,710 and gross margin expanding to 8.1% from 3.2%. This reflects better route optimization, fleet utilization, and operating efficiency in mobile fueling.

However, loss from operations widened to $10,093,843 and net loss to $10,766,492, mainly due to $7,859,677 in non-cash stock-based compensation. Adjusted EBITDA improved to a loss of $1,155,146 versus a $3,395,542 loss, helped by an 80% drop in interest expense to $680,596 after prior refinancing.

Liquidity is tight: cash and cash equivalents were $208,048 as of March 31, 2026, against sizable operating losses. Management is assessing financing and strategic initiatives to support working capital and the energy infrastructure pipeline, so future disclosures on funding steps will be important for understanding execution capacity.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Revenue $21,059,130 Q1 2026, up 29% year-over-year
Gross profit $1,711,710 Q1 2026, more than tripled vs Q1 2025
Gross margin 8.1% Q1 2026, up from 3.2% in Q1 2025
Net loss $10,766,492 Q1 2026 consolidated net loss
Loss from operations $10,093,843 Q1 2026 operating loss
Interest expense $680,596 Q1 2026, 80% reduction year-over-year
Adjusted EBITDA -$1,155,146 Q1 2026, improved from -$3,395,542 in Q1 2025
Cash and cash equivalents $208,048 As of March 31, 2026
Adjusted EBITDA financial
"Adjusted EBITDA was $(1,155,146) for the first quarter of 2026, compared to $(3,395,542) for the first quarter of 2025."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-GAAP financial measure financial
"Adjusted EBITDA is a non-GAAP financial measure. See reconciliation and Non-GAAP Financial Measures disclosure below."
A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.
microgrid pipeline technical
"The Company continues to advance its energy infrastructure segment, including its smart microgrid pipeline, and remains focused on scaling and optimizing its mobile fueling operations."
power purchase agreements financial
"Advancing the Company’s AI-driven microgrid pipeline ... through power purchase agreements and SaaS arrangements."
A power purchase agreement is a long-term contract in which a buyer agrees to purchase electricity from a specific generator at a set price and schedule, much like a multi-year subscription for energy. For investors, these contracts matter because they lock in predictable revenue and price terms, reducing exposure to volatile wholesale power markets and making project cash flows and financing risks easier to evaluate.
wireless EV charging technical
"Wireless EV Charging: Progressing from development toward commercial deployment, with a focus on fleet operators, logistics facilities, and industrial equipment applications."
Wireless EV charging lets an electric vehicle recharge its battery without a physical plug by transferring energy across a short air gap between a ground or curb-mounted pad and a receiver on the vehicle, similar to how a wireless phone charger works but on a larger scale. Investors care because the technology can make charging more convenient, speed adoption of electric vehicles, and create new infrastructure and service revenue streams while changing installation and maintenance costs for fleets and cities.
forward-looking statements regulatory
"This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Revenue $21,059,130 +29% year-over-year
Net loss $10,766,492 Wider vs $8,937,999 in Q1 2025
Gross margin 8.1% Up from 3.2% in Q1 2025
Adjusted EBITDA -$1,155,146 Improved from -$3,395,542 in Q1 2025
Interest expense $680,596 -80% year-over-year from $3,323,397
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C., 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 15, 2026

 

NEXTNRG, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-40809   83-4260623

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

407 Lincoln Rd. #9F, Miami Beach, Florida 33190

(Address of principal executive offices, including Zip Code)

 

(305) 791-1169

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.0001 par value per share   NXXT   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 2.02. Results of Operations and Financial Condition.

 

On May 15, 2026, NextNRG, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2026. A copy of this press release is furnished as Exhibit 99.1 to this Current Report.

 

The information included in this Item 2.02, including Exhibit 99.1 hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press release of the registrant issued on May 15, 2026.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  NextNRG, Inc.
     
Date: May 15, 2026 By: /s/ Michael Farkas
  Name: Michael Farkas
  Title: Chief Executive Officer

 

 

 

 

 

Exhibit 99.1

 

NextNRG Reports First Quarter 2026 Financial Results

 

Revenue Increased 29% Year-Over-Year to $21.1 Million While Gross Profit More Than Tripled

 

Interest Expense Declined 80% as Company Advances Microgrid Pipeline and Optimizes Fueling Operations

 

MIAMI, FL - May 15, 2026 - NextNRG, Inc. (NASDAQ: NXXT) (“NextNRG” or the “Company”), a pioneer in AI-driven energy innovation transforming how energy is produced, managed, and delivered, today announced financial results for the first quarter ended March 31, 2026.

 

“Our first quarter results reflect disciplined execution across both segments of our business,” said Michael D. Farkas, Founder and CEO of NextNRG. “Revenue grew 29% year-over-year, gross profit more than tripled, and we reduced interest expense by 80% compared to the same quarter last year. These results demonstrate the progress we are making in scaling and optimizing our fueling operations while continuing to advance our energy infrastructure pipeline in a fiscally disciplined manner.”

 

Mr. Farkas continued, “We remain focused on what matters: growing revenue, improving unit economics, progressing our microgrid pipeline, and managing our cost structure with discipline. We believe this approach positions NextNRG to deliver long-term value as both segments of our business continue to develop.”

 

First Quarter 2026 Financial Highlights

 

Metric  Q1 2026   Q1 2025 
Revenue  $21,059,130   $16,272,673 
Gross Profit  $1,711,710   $517,969 
Gross Margin %   8.1%   3.2%
Loss from Operations  $(10,093,843)  $(5,753,872)
Net Loss  $(10,766,492)  $(8,937,999)
Interest Expense  $680,596   $3,323,397 
Adjusted EBITDA (1)  $(1,155,146)  $(3,395,542)

 

(1) Adjusted EBITDA is a non-GAAP financial measure. See reconciliation and Non-GAAP Financial Measures disclosure below.

 

 

 

 

First Quarter 2026 Financial Results

 

Revenue for the three months ended March 31, 2026 was $21,059,130, compared to $16,272,673 in the first quarter of 2025, representing growth of 29% year-over-year. Revenue growth was driven by continued expansion of the Company’s mobile fueling operations, including growth in fuel volumes delivered and an increase in the average price per gallon across existing markets.

 

Gross profit increased to $1,711,710, compared to $517,969 in the first quarter of 2025. Gross margin percentage expanded to 8.1% from 3.2% in the prior-year period, reflecting continued improvements in route optimization, fleet utilization, and operating efficiency across the Company’s fueling platform.

 

Loss from operations was $10,093,843 for the first quarter of 2026, compared to $5,753,872 for the first quarter of 2025. The increase in operating loss was primarily attributable to $7,859,677 in non-cash stock-based compensation expense recorded during the first quarter of 2026 in connection with shares issued for services. Excluding this non-cash item, the Company continued to make progress on cost discipline relative to revenue growth.

 

Net loss was $10,766,492 for the first quarter of 2026, compared to $8,937,999 for the first quarter of 2025. For the first quarter of 2026, net loss available to common stockholders was $10,880,521 after preferred stock dividends, compared to $8,960,972 for the first quarter of 2025.

 

Interest expense was $680,596 for the first quarter of 2026, compared to $3,323,397 for the first quarter of 2025, representing an 80% reduction year-over-year and reflecting lower financing-related charges and reduced amortization of debt discounts as a result of the Company’s refinancing activity in 2025.

 

The Company continues to advance its energy infrastructure segment, including its smart microgrid pipeline, and remains focused on scaling and optimizing its mobile fueling operations. Both segments are being managed with an emphasis on disciplined operational and fiscal execution.

 

Adjusted EBITDA

 

The following table presents a reconciliation of net loss to Adjusted EBITDA for the three months ended March 31, 2026 and 2025:

Net Loss to Adjusted EBITDA Reconciliation  Q1 2026   Q1 2025 
Net loss  $(10,766,492)  $(8,937,999)
Add: Interest expense   680,596    3,323,397 
Add: Depreciation and amortization   1,071,073    733,336 
Add: Stock-based compensation   7,859,677    1,485,724 
Adjusted EBITDA  $(1,155,146)  $(3,395,542)

 

Adjusted EBITDA was $(1,155,146) for the first quarter of 2026, compared to $(3,395,542) for the first quarter of 2025. The $2,240,396 improvement year-over-year reflects the significant reduction in interest expense and improvement in gross profit, partially offset by the increase in non-cash stock-based compensation expense recorded during the first quarter of 2026.

 

 

 

 

Balance Sheet and Liquidity

 

As of March 31, 2026, the Company had:

 

● Cash and cash equivalents of $208,048, compared to $2,116,932 and $384,140 at March 31, 2025 and December 31, 2025, respectively

● Total assets of $12,263,129, compared to $11,063,353 at December 31, 2025

● Accounts receivable of $2,900,153, compared to $2,039,214 at December 31, 2025

 

Management continues to evaluate multiple financing and strategic initiatives intended to support working capital requirements, operational growth, and expansion of the Company’s energy infrastructure platform.

 

Looking Ahead: Scaling the Integrated Energy Platform

 

NextNRG is focused on expanding its integrated platform across three infrastructure-aligned revenue streams:

 

● Utility Operating System and Smart Microgrids: Advancing the Company’s AI-driven microgrid pipeline across commercial, healthcare, municipal, industrial and federal markets through power purchase agreements and SaaS arrangements.

● Wireless EV Charging: Progressing from development toward commercial deployment, with a focus on fleet operators, logistics facilities, and industrial equipment applications.

● Mobile Fueling Logistics: Continuing to scale and optimize national fueling operations with a focus on route efficiency, fleet utilization, and disciplined cost management.

 

Non-GAAP Financial Measures

 

Adjusted EBITDA is a non-GAAP financial measure. Adjusted EBITDA should not be considered a substitute for measures prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), nor should it be viewed as a substitute for operating results determined in accordance with GAAP. We believe that the presentation of Adjusted EBITDA, which excludes the impact of net interest expense, taxes, depreciation, amortization, and stock-based compensation expense, provides useful supplemental information that is essential to a proper understanding of our financial results. Non-GAAP measures are not formally defined by GAAP, and other entities may use calculation methods that differ from ours for the purposes of calculating Adjusted EBITDA. As a complement to GAAP financial measures, we believe that Adjusted EBITDA assists investors who follow the practice of some investment analysts who adjust GAAP financial measures to exclude items that may obscure underlying performance and distort comparability. See the reconciliation of net loss to Adjusted EBITDA above.

 

 

 

 

About NextNRG, Inc.

 

NextNRG, Inc. (NextNRG) is Powering What’s Next by integrating artificial intelligence (AI) and machine learning (ML) into utility infrastructure, battery storage, wireless EV in-motion charging, renewable energy and mobile fuel delivery, to create a unified platform for modern energy management.At the core of its strategy is the Next Utility Operating System®, which uses AI to optimize both new and existing infrastructure across microgrids, utilities, and fleet operations. NextNRG’s smart microgrids serve commercial, healthcare, educational, tribal, and government sites delivering cost savings, reliability, and decarbonization. The company also operates one of the nation’s largest on-demand fueling fleets and is advancing wireless charging to support fleet electrification.To learn more, visit www.nextnrg.com.

 

Forward-Looking Statements

 

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG’s goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “expect,” “intends,” “will,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG’s business and macroeconomic and geopolitical events. These and other risks are described in NextNRG’s filings with the Securities and Exchange Commission from time to time. NextNRG’s forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.

 

Investor Relations Contact

 

NextNRG, Inc.

Sharon Cohen

SCohen@nextnrg.com

 

 

FAQ

How did NextNRG (NXXT) perform financially in Q1 2026?

NextNRG reported Q1 2026 revenue of $21.1 million, up 29% year-over-year. Gross profit rose to $1.7 million and gross margin improved to 8.1%. However, the company posted a $10.1 million operating loss and a $10.8 million net loss available to common stockholders.

What drove NextNRG’s revenue growth in the first quarter of 2026?

Revenue growth was mainly driven by expansion of NextNRG’s mobile fueling operations. The company saw higher fuel volumes delivered and an increase in average price per gallon across existing markets, which together lifted Q1 2026 revenue to $21.1 million from $16.3 million a year earlier.

How did NextNRG’s profitability metrics change year-over-year in Q1 2026?

Profitability showed mixed trends. Gross profit more than tripled to $1.7 million and gross margin improved to 8.1% from 3.2%. Yet loss from operations widened to $10.1 million and net loss to $10.8 million available to common stockholders, largely due to higher non-cash stock-based compensation.

What happened to NextNRG’s interest expense and Adjusted EBITDA in Q1 2026?

Interest expense dropped 80% year-over-year to $680,596 in Q1 2026, reflecting lower financing-related charges after 2025 refinancing. Adjusted EBITDA improved to a loss of $1.2 million from a $3.4 million loss, helped by the interest reduction and higher gross profit despite increased stock-based compensation.

What is NextNRG’s cash and balance sheet position as of March 31, 2026?

As of March 31, 2026, NextNRG held $208,048 in cash and cash equivalents, total assets of $12.3 million, and accounts receivable of $2.9 million. Management is evaluating financing and strategic initiatives to support working capital, operational growth, and expansion of its energy infrastructure platform.

How does NextNRG define and use Adjusted EBITDA in its reporting?

NextNRG’s Adjusted EBITDA is a non-GAAP measure that starts with net loss and adds interest expense, taxes, depreciation, amortization, and stock-based compensation. Management believes it provides useful supplemental insight into underlying performance, although it should be considered alongside GAAP metrics.

Filing Exhibits & Attachments

4 documents