MIAMI, May 15, 2026, 19:07 EDT
- NextNRG said first-quarter revenue rose 29% from a year ago to $21.1 million.
- The company posted a wider net loss of $10.8 million. Cash at the end of the quarter dropped to $208,048.
- Management said in a filing it needs capital right away to keep funding operations.
NextNRG, Inc. posted stronger revenue for the first quarter on Friday, but a filing released the same day pointed to cash burn and raised concerns over whether the Miami Beach-based energy tech firm can keep running without new funding.
The result comes as NextNRG pitches a bigger platform to investors. The company wants to bring together mobile fuel delivery, AI software, microgrids and wireless EV charging. A microgrid is a small local power network that can operate on its own or connect to the main grid.
NextNRG shares slid 5.94% to finish at $0.2804 on Nasdaq. The stock was volatile, trading up to $0.6502 during the session. More than 44 million shares changed hands, according to market data. Investors are watching the moves.
Revenue rose to $21.1 million in the quarter ended March 31, up from $16.3 million a year ago, as the company grew its mobile fueling operations. The increase was also helped by higher fuel volumes and a better average price per gallon. Gross profit moved higher to $1.7 million from $518,000. Gross margin climbed to 8.1% from 3.2%.
Founder and CEO Michael D. Farkas called the quarter an example of “disciplined execution” and said the leadership team is still focused on “growing revenue, improving unit economics” and building out its microgrid pipeline. GlobeNewswire
Net loss got worse in the filing, hitting $10.8 million, up from $8.9 million the year before. Loss available to common stockholders was $10.9 million. The filing also showed general and administrative expense almost doubled, largely on $7.9 million of stock-based compensation.
Interest expense dropped to $681,000 from $3.3 million, which the company said was because of refinancing and lower charges tied to financing. Adjusted EBITDA, which leaves out items like interest, taxes, depreciation, amortization and other costs, showed a loss of about $1.2 million. That’s better than last year’s $3.4 million loss.
Balance sheet pressure continues. NextNRG said cash dropped to $208,048 at March 31 from $384,140 at Dec. 31. Liabilities came to $34.3 million, assets $12.3 million. Stockholders’ deficit was $22.0 million.
The company said it has to raise capital right away, warning investors that funding might not come, or might not come on terms it can accept. If it can’t get money, the company said it could have to scale back, pause or stop operations. It said in the filing that those issues create “substantial doubt” about whether it can stay in business for the next 12 months.
NextNRG’s peer group is messy. The company covers a few markets. In microgrids, it faces bigger players like Bloom Energy and Generac. Both pitch systems meant to keep power on in a blackout. On EV charging, NextNRG’s push lands close to businesses like EVgo, which claims to run one of the U.S.’s largest fast-charging networks.
The company said it’s looking at three sources for revenue: an AI-based utility OS and smart microgrids, wireless EV charging, and mobile fueling logistics. A call for investors is set for Monday, May 18, at 9:00 a.m. Eastern to go over quarterly results and offer a corporate update.
