NextNRG, Inc. (NASDAQ:NXXT) shares surged in Monday premarket trading after the company reported first-quarter results that topped Wall Street estimates.
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Revenue rose 29% year over year to $21.1 million, exceeding the analyst consensus estimate of $18.1 million. The increase was driven by continued expansion of the company's mobile fueling business, including higher fuel delivery volumes and improved average pricing per gallon across existing markets.
Gross profit increased to $1.7 million from $517,969 in the prior-year quarter. Gross margin improved to 8.1% from 3.2%, aided by better route optimization, stronger fleet utilization and improved operational efficiency across the fueling platform.
