Business
EzFill Announces Fourth Quarter and Full Year 2022 Financial Results
-- 2022 Revenue Increased 108% year over year to $15.0 Million From $7.2 Million -- -- Average Fuel Margin per Gallon Rose 22% to $0.45 Compared to $0.37-- --
About this update from Nextnrg, Inc.
[{"type":"text","content":"-- 2022 Revenue Increased 108% year over year to $15.0 Million From $7.2 Million -- -- Average Fuel Margin per Gallon Rose 22% to $0.45 Compared to $0.37-- -- Over 100 New Fleet Accounts Added in 2022 -- MIAMI, FL, March 16, 2023 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fueling industry, announced today its financial results for the three- and twelve-month period ended December 31, 2022. 4Q22 and FY 2022 Highlights (in US$, except gallons delivered) 4Q 2022 4Q 2021 Year 2022 Year 2021 Financial Highlights Revenue 4,858,819 1,997,941 15,044,721 7,233,957 Net loss (6,290,176) (3,653,703) (17,505,765) (9,383,397)Adjusted EBITDA* (2,622,533) (2,685,180) (11,409,858) (5,845,504)Operating Highlights Total Gallons Delivered 1,238,923 577,475 3,614,844 2,308,764 Avg. Fuel Margin per Gallon $0.43 $0.40 $0.45 $0.37 * See end of this press release for reconciliation to US GAAP Commenting on the quarterly and full year results, Mike McConnell, EzFill’s Chief Executive Officer, stated, “2022 was our first full calendar year as a public company and I’m pleased to be able to say that we accomplished nearly all the key goals we set out to accomplish. We grew revenue more than 100% during the year. We significantly grew our fleet customer count from just 14 a year ago by adding more than 100 new accounts in 2022, which dramatically reduced the prior concentration of revenue in a single customer. Some of these new accounts have multiple locations. We have continued to grow our fleet business in 2023 and as previously announced, we added 19 new fleets in January and February. We significantly increased our average margin per gallon in 2022 despite a volatile year for gas prices and a competitive business environment. The number of trucks in our fleet grew during 2022 from 12 to 40. Finally, we acquired the mobile fueling business of Palmdale Oil during 2022 that has been fully integrated and the relationship with Palmdale has facilitated our expansion throughout Florida.” “During 2022, we expanded beyond our Miami base into West Palm Beach, Orlando, Tampa and Jacksonville. We launched the innovative EzFill Pay program to enable the use of popup gas stations and we are launching in selected Miami zip codes our EzFill NOW program, where customers can now opt for...