NextNRG Inc. (NXXT) in a Phase of Robust Growth amid Geographic Expansion

NextNRG Inc. (NASDAQ:NXXT) is one of the fastest-growing penny stocks to buy now. On November 17, NextNRG Inc. (NASDAQ:NXXT) delivered strong third-quarter results characterized by robust revenue growth, margin expansion, and continued traction in the energy infrastructure segment.

NextNRG Inc. (NXXT) in a Phase of Robust Growth amid Geographic Expansion

Photo by RawFilm on Unsplash

Third-quarter revenue was up 232% year over year to $22.9 million, driven by aggressive expansion into new markets and increased operational density around anchor customers. Gross profit totaled $2.4 million, as margins expanded to 11% from 8% in the second quarter. While the company posted a net loss of $14.9 million, it was due to non-cash stock-based compensation and growth-related investments that strengthen the company’s long-term operating capacity.

In a bid to accelerate growth, NextNRG remains focused on expanding its footprint into high-demand sectors. It’s also focused on driving efficiency and resiliency for customers across healthcare, commercial, and municipal markets. The company also continues to advance its AI-driven innovative microgrid projects.

“We are entering an exciting phase where our technology, infrastructure, and operational expertise converge. Our fully connected energy ecosystem continues to deliver measurable results, positioning NextNRG to lead the transition to intelligent, distributed power,” said Michael D. Farkas, Executive Chairman and CEO.

NextNRG Inc. (NASDAQ:NXXT) develops and integrates an energy ecosystem that combines mobile fueling, renewable energy, and on-demand services. It leverages artificial intelligence (AI) and machine learning (ML) to manage an integrated platform that includes solar energy, battery storage, wireless EV charging, and on-demand fuel delivery.

While we acknowledge the potential of NextNRG Inc. (NASDAQ:NXXT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NXXT and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: Top 10 Stocks Offering High Upside Potential in Data Centers and 10 Best Breakout Stocks to Invest In.

Disclosure: None. This article is originally published at Insider Monkey.