NextNRG, Inc. (formerly EzFill Holdings, Inc.) reported significant financial developments in its latest 10-Q filing for the nine months ending September 30, 2025. The company generated net sales of $58.8 million, a substantial increase of 179% compared to $21.0 million in the same period of the previous year. However, the company also reported a net loss of $60.0 million, which is a significant increase from the $18.8 million loss recorded in the prior year. The gross margin for the period was $4.5 million, up from $1.6 million, indicating improved operational efficiency despite the overall loss.
The financial performance reflects a notable shift in the company's operations, particularly following its acquisition of Next Charging LLC, which was completed on February 13, 2025. This strategic move has allowed NextNRG to expand its service offerings in mobile fuel delivery and renewable energy solutions, including wireless electric vehicle charging technology. The company has also increased its employee headcount, although specific figures were not disclosed in the filing.
Operationally, NextNRG has expanded its customer base significantly, with key customers accounting for 76.93% of total sales in the nine months ended September 30, 2025, compared to 28.51% in the previous year. The company has also increased its inventory to $340,018 from $126,400, reflecting its efforts to meet growing demand. Additionally, accounts receivable rose to $2.7 million, up from $1.6 million, indicating a growing customer base and increased sales activity.
Despite these advancements, NextNRG faces challenges, including a working capital deficit of $29.97 million and an accumulated deficit of $127.17 million as of September 30, 2025. The company has indicated that it will need to raise additional capital to fund its operations and support its growth initiatives. Management's outlook includes plans to expand into new markets, secure additional financing, and explore strategic collaborations to enhance its business model. However, there is substantial doubt about the company's ability to continue as a going concern without securing necessary funding.
About NEXTNRG, INC.
NextNRG specializes in integrated renewable energy solutions, including AI-driven microgrids, solar power, battery storage, and wireless EV charging. Its core offerings serve utilities, commercial properties, tribal lands, and underserved communities, enhancing energy resilience, reducing costs, and supporting decarbonization. The company generates revenue through power purchase agreements, hardware sales, licensing, and SaaS services, leveraging patented technologies and strategic partnerships to advance sustainable energy infrastructure.
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