EzFill Holdings, Inc. - EZFL STOCK NEWS

EzFill Holdings (NASDAQ: EZFL) has completed the acquisition of Yoshi Inc.'s mobile fueling division, marking a significant expansion into four new states: California, Michigan, Tennessee, and Texas. The deal, closed on December 2, 2024, adds 26 new trucks to EzFill's fleet, bringing the total to 66 vehicles.

The expansion includes five new markets: Los Angeles, San Francisco, Detroit, Houston, and Nashville, increasing EzFill's presence to 10 strategic locations across 5 states. The acquisition brings over 50 new commercial fleet accounts to EzFill's portfolio. The company plans to immediately offer diesel services in these new markets, targeting the 76% of commercial vehicles that use diesel fuel.

EzFill Holdings (NASDAQ: EZFL) has signed a definitive agreement to acquire Yoshi Mobility's fuel division, expanding operations to four new states: California, Tennessee, Texas, and Michigan. The deal, expected to close by December 2, 2024, will integrate Yoshi's assets, operations, and customers into EzFill's infrastructure. The company plans to add diesel fueling services to Yoshi's existing markets and implement an aggressive national expansion plan. As part of the agreement, Yoshi will become an EzFill shareholder. The acquisition aims to strengthen EzFill's position in the on-demand fueling sector and extend services to national customers in new markets.

EzFill Holdings (NASDAQ: EZFL) reported Q3 2024 financial results showing significant growth. Revenue increased 13% year-over-year to $7.0 million, driven by a 26% increase in gallons delivered to 1.87 million. Gross profit grew 74% to $0.61 million, with improved fuel margins of $0.71 per gallon. The company reported a net loss of $8.1 million, largely due to interest expenses from debt conversion. Adjusted EBITDA loss improved 15% to $(1.1) million. Notable developments include the conversion of $13.5 million debt to equity and receipt of a $1.4 million investment.

Yoshi Mobility announced the strategic spin-off of its fuel division to EZFill Holdings (NASDAQ: EZFL) as part of its shift towards sustainable mobility solutions. The company will now focus on three core areas: mobile vehicle charging for electric and autonomous fleets, virtual vehicle inspections, and on-site preventative maintenance. The company has already launched EV charging solutions with major OEMs and rideshare operators, serving large EV fleets requiring up to 1 megawatt of energy daily. Yoshi is also developing a proprietary 240 kW fast-charger capable of providing 100 miles of charge in under 10 minutes.

EzFill Holdings (NASDAQ: EZFL) has signed a non-binding Letter of Intent to acquire Yoshi Mobility's fuel division, expanding operations into California, Tennessee, Texas, and Michigan. The acquisition will integrate Yoshi's assets and customers into EzFill's infrastructure, marking a significant expansion in the mobile fueling sector. Yoshi Mobility, backed by General Motors Ventures, ExxonMobil, and Bridgestone Americas, will transition its fueling operations to EzFill while focusing on developing mobility solutions. The transaction is expected to close before year-end, subject to definitive agreements and closing conditions.

EzFill Holdings, Inc. (NASDAQ: EZFL), a leader in the mobile fuel industry, has mobilized its fleet to support communities affected by Hurricanes Helene and Milton. The company has been actively providing essential fuel services to nursing homes, first responders, and local residents impacted by the storms over the past two weeks.

EzFill's emergency response team has been filling hundreds of generators and equipment for medical facilities, emergency service providers, and hurricane shelters across the state. They have also prioritized fuel deliveries to first responder vehicles and thousands of local residents. The company is working closely with major generator and equipment suppliers to ensure continuous power supply to critical facilities until utility services are restored.

CEO Yehuda Levy emphasized EzFill's commitment to supporting those in need during times of crisis and pledged to continue assisting in the recovery process.

EzFill Holdings, Inc. (NASDAQ: EZFL), a leader in the mobile fueling industry, has regained compliance with NASDAQ's Listing Rule 5550(b)(1), which requires a minimum stockholders' equity of $2,500,000. This follows a notice of non-compliance received on August 22, 2023. The company achieved compliance through strategic transactions, including:

• A private placement sale of Series B Convertible Preferred Stock
• Exchanging certain debt for common stock
• Exchanging other debt for Series A Preferred Stock

NASDAQ will monitor EzFill's compliance for one year, with potential delisting without a cure period if the company falls out of compliance again.

EzFill Holdings, Inc. (NASDAQ: EZFL), a leader in mobile fueling, has announced strategic transactions to strengthen its financial position and regain Nasdaq compliance. The company has:

1. Converted $13.5 million of debt to equity
2. Received a $1.4 million investment from NextNRG
3. Eliminated nearly all debt, potentially saving $1.2 million in annual interest
4. Issued new preferred stock series

These actions aim to support future growth, profitability, and the potential acquisition of NextNRG. CEO Yehuda Levy and NextNRG CEO Michael D. Farkas expressed optimism about EzFill's market position and growth potential, citing over 100% revenue growth in 2022 and 50% in 2023.

EzFill Holdings, Inc. (NASDAQ: EZFL) reported strong financial results for Q2 2024. Revenue increased 21% year-over-year to $7.4 million, driven by a 16% increase in gallons delivered to 1.84 million. Gross profit rose 14% from the prior year period. The company added 40 new commercial accounts during the quarter. Loss per share improved 6% from $(1.78) to $(1.67). Adjusted EBITDA loss improved by 41% to $(1.1) million.

Key highlights include:
- Average fuel margin per gallon remained steady at $0.60
- Operating expenses decreased due to improved efficiencies
- Interest expense increased to $1.9 million due to higher borrowing
- Cash position at quarter-end was $0.3 million
- Long-term debt stood at $9.8 million