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NextNRG Triples Gross Profit in Q1
During the January-March quarter, the Florida-based company saw its revenue hit roughly $21 million, up by 29% from the same period last year. Its gross profit also more than tripled — or climbed by about 230% year-over-year — to $1.7 million.
NextNRG said its sales growth was driven by the expansion of its mobile fueling operations, even as it delivered higher volume in the quarter amid an increase in the average price per gallon across existing markets. The company’s gross margin also improved from 3.2% a year ago to 8.1%.
NextNRG Rallies despite Deeper Losses
