NextNRG Reports 29.5% Revenue Growth but Faces $10.8 Million Net Loss in Q1 2026

NextNRG, Inc. (formerly EzFill Holdings, Inc.) reported its financial results for the first quarter of 2026, revealing a net revenue of $21.1 million, a 29.5% increase from $16.3 million in the same period of 2025. The company experienced a gross margin of $1.7 million, significantly up from $518,000 year-over-year. However, NextNRG reported a net loss of $10.8 million for the quarter, compared to a loss of $8.9 million in the prior year, indicating ongoing challenges in achieving profitability despite increased sales.

The company's total current assets rose to $5.5 million as of March 31, 2026, compared to $3.2 million at the end of 2025. This increase was primarily driven by higher accounts receivable, which grew to $2.9 million from $2.0 million, and a notable rise in inventory, which reached $839,000, up from $610,000. Conversely, total liabilities increased to $34.3 million, up from $33.2 million, largely due to higher accounts payable and accrued expenses, which rose to $6.0 million from $4.1 million.

Strategically, NextNRG has been focusing on expanding its operations in the renewable energy sector, particularly through the development of wireless electric vehicle charging technology and battery storage solutions. The company has also been enhancing its mobile fuel delivery services, aiming to integrate sustainable energy solutions into its operations. The transition to electric vehicle support is part of a broader strategy to align with market trends towards clean energy adoption.

Operationally, NextNRG's customer base has shown growth, with significant engagement metrics indicating a strong demand for its services. The company has expanded its fleet of fuel delivery trucks and is actively pursuing geographic expansion. As of March 31, 2026, the company had a working capital deficit of $25 million, which raises concerns about its liquidity and ability to fund ongoing operations. The company reported a cash balance of $208,000, down from $384,000 at the end of 2025, highlighting the need for additional capital to sustain its growth initiatives.

Looking ahead, NextNRG anticipates the need for further capital to support its operational and strategic goals. The company has acknowledged that it relies heavily on related-party funding and faces uncertainty regarding its ability to secure financing on favorable terms. Management's plans include expanding into new markets, pursuing collaborations, and potentially acquiring other businesses to enhance its service offerings. However, the company has expressed substantial doubt about its ability to continue as a going concern without raising additional funds.