NextNRG (NXXT) Q1 2026 earnings summary

Executive summary

• Revenue grew 29% year-over-year to $21.1 million for Q1 2026, driven by expansion in mobile fueling operations, increased fuel volumes, and higher average fuel prices.

• Gross profit more than tripled to $1.7 million, with gross margin expanding to 8.1% from 3.2%, reflecting operational improvements.

• Net loss was $10.8 million, primarily due to $7.9 million in non-cash stock-based compensation, despite higher operating expenses.

• The company is prioritizing operational efficiency, margin improvement, and disciplined growth, while expanding into renewable energy infrastructure, including AI-driven microgrids and wireless EV charging.

• Interest expense declined 80% year-over-year due to refinancing and lower financing charges.

Financial highlights

• Revenue for Q1 2026 was $21,059,130, up from $16,272,673 in Q1 2025, a 29% increase.

• Gross profit rose to $1,711,710 from $517,969 year-over-year; gross margin improved to 8.1% from 3.2%.

• Loss from operations was $10,093,843, impacted by $7.9 million in non-cash stock-based compensation.

• Adjusted EBITDA improved to negative $1,155,146 from negative $3,395,542 year-over-year.

• Cash and cash equivalents at quarter-end were $208,048; total assets $12,263,129.

Outlook and guidance

• Focus remains on scaling and optimizing the mobile fueling business and integrated energy platform, with operational discipline and margin improvement.

• Advancing energy infrastructure, especially the smart microgrid pipeline, toward structured, recurring revenue opportunities.

• Management anticipates the need to raise additional capital immediately to fund ongoing operations, with substantial doubt about the ability to continue as a going concern.