NextNRG, Inc.

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 across the business are beginning to gain traction. Importantly, this quarter was not driven by a single event or temporary factor. What I would point out is the gross profit number. It more than tripled year over year. That kind of improvement does not happen by accident, and it does not happen in just one quarter. It is the result of work that has been compounding across the platform over several quarters. As we continue scaling the fueling business, our focus remains on discipline growth. We are prioritizing operational efficiency and margin improvement alongside revenue expansion. We believe that approach creates a stronger long-term foundation for the business. At the same time, we continue advancing our energy infrastructure initiatives. including our smart microgrid pipeline. These are longer cycle opportunities, and we are developing them accordingly, focused on converting pipeline into structured, contracted arrangements without getting ahead of what the business can execute well. We are intentionally taking a pragmatic approach across the organization. Our objective is no longer growth at any cost. Our objective is to improve execution, strengthen unit economics, manage capital responsibility, and position the business for long-term value creation. We also made meaningful progress in simplifying and improving our financial structure during the quarter. While Joe will discuss this in more detail, we believe the work completed over the past year has materially improved the overall financial profile of the company. Overall, we are encouraged by the direction of the business and believe the first quarter reflects continued operational progress across both segments. With that, I will turn the call over to Joel.