MIAMI, May 15, 2026, 19:07 EDT
- NextNRG posted a 29% jump in first-quarter revenue to $21.1 million from a year earlier.
- The company reported a bigger net loss at $10.8 million. Quarter-end cash fell to $208,048.
- Management said in a filing it needs immediate capital to continue funding operations.
NextNRG, Inc. said Friday it grew revenue in the first quarter, but a same-day filing flagged ongoing cash burn and flagged doubts about the Miami Beach energy tech company’s ability to keep going if it doesn’t raise more capital.
NextNRG’s result lands while the company courts investors for a larger platform. The company is aiming to put mobile fuel delivery, AI software, microgrids and wireless EV charging together. A microgrid is a small, local power network that runs independently or links to the main grid.
NextNRG fell 5.94% to $0.2804 at the close on Nasdaq. Shares swung as high as $0.6502 earlier in the day. Volume topped 44 million shares, market data showed. Investors are watching the action.
Revenue hit $21.1 million for the quarter ended March 31, up from $16.3 million last year as the company expanded mobile fueling. More gallons moved and better average pricing pushed results higher. Gross profit increased to $1.7 million from $518,000. Gross margin was 8.1%, up from 3.2%.
Founder and CEO Michael D. Farkas said the quarter showed “disciplined execution.” Farkas said the team remains focused on “growing revenue, improving unit economics” and developing its microgrid pipeline. GlobeNewswire
Net loss widened in the filing, coming in at $10.8 million compared with $8.9 million last year. Loss available to common stockholders totaled $10.9 million. General and administrative expense nearly doubled, mostly due to $7.9 million in stock-based compensation, according to the filing.
Interest expense fell to $681,000 from $3.3 million. The company pointed to refinancing and lower financing-related charges. Adjusted EBITDA—removing interest, taxes, depreciation, amortization and other items—showed a loss of about $1.2 million. That compares with a $3.4 million loss a year ago.
NextNRG is still seeing balance sheet strain. As of March 31, the company reported cash at $208,048, down from $384,140 at the end of December. Liabilities totaled $34.3 million with assets at $12.3 million, putting stockholders’ deficit at $22.0 million.
Company warns it needs cash soon, tells investors funding could fall through or come on terms it can’t take. If no money comes in, the company might have to cut back, halt, or even stop business, it said in a filing. It said there’s “substantial doubt” it can keep going over the next year.
NextNRG doesn’t fit into a simple peer group. The company’s involved in several markets. In microgrids, it goes up against larger names like Bloom Energy and Generac, which both sell systems to keep the lights on during outages. NextNRG’s EV charging business lines up with companies like EVgo, a firm that says it operates one of the biggest U.S. fast-charging networks.
The company said it’s considering three revenue streams: an AI utility OS with smart microgrids, wireless EV charging, and mobile fueling logistics. It plans to hold an investor call on Monday, May 18 at 9:00 a.m. Eastern to discuss quarterly earnings and give a corporate update.
