NextNRG, Inc. (NXXT) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Next Energy, Inc. first quarter 2026 earnings conference call. All participants are in a listen-only mode. Following the management's prepared remarks, we will move to a pre-submitted Q&A. Please note this call is being recorded. Before we begin, I'll turn it over to Sharon Cohen for the required forward-looking statements disclosure. Sharon, please go ahead. Thank you. I'd like to begin by reminding everyone that today's discussion will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that could cause actual results to differ materially. Please refer to our most recent SEC filings for a full discussion of relevant risk factors. Today's call will also reference adjusted EBITDA, a non-GAAP financial measure. A full reconciliation of this measure to net loss, the most comparable GAAP measure, is available in our earnings release located in the Investors tab of our website. Non-GAAP financial measures should not be considered a substitute for GAAP results. On the call today is Michael DeFarkas, our Chief Executive Officer and Founder, as well as Joel Kleiner, our Chief Financial Officer. With that, I'll now turn the call over to Michael. Thank you, Sharon, and good morning, everyone. Our first quarter results reflect continued progress in building a more disciplined, operationally focused company. During the quarter, revenue increased 29% year over year to approximately $21.1 million. Gross profit more than tripled. Gross margin expanded to 8.1%, and adjusted EBITDA improved materially versus the prior year period. We believe these results demonstrate that the operational improvements we have been implementing a...