EZFL EZFILL HLDGS INC

DGAP-News: EzFill Reports 103% Year-Over-Year Revenue Growth In First Year of Mobile Fuel Deliveries

DGAP-News: EzFill Holdings Inc.
EzFill Reports 103% Year-Over-Year Revenue Growth In First Year of Mobile Fuel Deliveries

30.08.2022 / 14:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


EzFill Holdings Inc. (NASDAQ: EZFL) released its this month, revealing 103% year-over-year revenue growth and other exciting updates.

Despite rising oil prices and major supply chain disruptions across oil and gas markets, EzFill doubled its revenue year over year from $1.85 million in the second quarter of 2021 to $3.76 million for the same period this year.

While other similarly sized fuel-distribution companies also saw year-over-year growth, few managed to double revenue as EzFill did. Sunoco LP (NYSE: SUN) came close with in revenue, while Arko Corp. (NASDAQ: ARKO) and UGI Corp. (NYSE: UGI) reported and increases, respectively, in their most recent quarters.

Here’s what drove the growth and how EzFill plans to keep that strong momentum going through the rest of the year.

Fuel Deliveries Commenced For EzFill’s Pioneering On-Demand Mobile Fuel Service

In EzFill’s first quarter, the company mobile fuel deliveries to its base of mostly commercial customers. Unlike other distributors that store fuel at gas stations, EzFill uses a fleet of trucks to deliver gasoline, diesel and specialty fuels to customers wherever they are.

Customers download an app, schedule delivery at their location, and a certified technician fills their tank wherever their car (or truck or boat) is parked. The convenient service allows individuals to skip the gas pump while commercial customers can schedule refueling during off hours so that they can start the day with a fully fueled fleet of vehicles.

High Demand From Commercial Customers

Gallons delivered rose 34% from the first quarter, while the company added about 40 new fleet customers with an estimated demand of approximately 1.2 million gallons per year. This demand from commercial customers accounts for the majority of its growth to date and the EzFill continues to sign agreements with major corporate customers across southeast Florida.

Expansion Into New Territory And New Market Segments

As a pioneer of the emerging mobile fuel-delivery industry, EzFill is still mostly serving Miami, where the company is based. However, this year, it added markets in West Palm Beach, Tampa and Orlando.

Meanwhile, it’s adding new trucks and technicians to its fleet to keep pace with rapidly growing demand and making plans to deploy its service in cities across the United States, including in New York, Texas and Georgia.

One of its priorities in the coming months will be raising brand awareness among residential customers and boat owners to increase its share of individual customers. Earlier this year, it announced Miami Heat star Victor Oladipo is its brand ambassador to promote the on-demand fuel app to his audience.

Company Website


News Source: News Direct


30.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at


Language: English
Company: EzFill Holdings Inc.
United States
ISIN: US3023142082
EQS News ID: 1431431

 
End of News DGAP News Service

1431431  30.08.2022 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1431431&application_name=news&site_id=research_pool
EN
30/08/2022

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on EZFILL HLDGS INC

 PRESS RELEASE

EzFill Announces 2024 Third Quarter Financial Results

EzFill Announces 2024 Third Quarter Financial Results -- Revenue Increased 13% Year Over Year to $7.0 Million From $6.2 Million -- -- Gross Profit Increased 74% From The Prior Year Period– --EBITDA Improved 15% from the Prior Year Period-- -- 1.9 Million Gallons Delivered, Up 26% From The Prior Year Period – --Converted $13.5 Million Debt into Equity— --Recieved $1.4 Million Investment-- MIAMI, FL, Nov. 14, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fuelin...

 PRESS RELEASE

EzFill Fueling up to Expand Nationally Enters into LOI for the Acquisi...

EzFill Fueling up to Expand Nationally Enters into LOI for the Acquisition of Yoshi Mobility’s Fuel Division Plans to Begin Operations in Four New States, Expanding Reach Across the U.S. Miami, FL, Nov. 04, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings Inc. (NASDAQ: EZFL), a leading mobile fueling company, is proud to announce the signing of a non-binding Letter of Intent (“LOI”) to acquire the fueling division of Yoshi, Inc. We believe that this acquisition will mark a significant milestone in EzFill’s strategy to expand its operations and presence across the United States. Under the terms ...

 PRESS RELEASE

EzFill Holdings, Inc. Regains Compliance with NASDAQ Listing Standard

EzFill Holdings, Inc. Regains Compliance with NASDAQ Listing Standard MIAMI, FL, Sept. 03, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill”) or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fueling industry, today announced that it has regained compliance with Listing Rule 5550(b)(1) which requires a minimum stockholders’ equity of $2,500,000. As previously disclosed, on August 22, 2023, EzFill received a letter from the listing qualifications department staff of Nasdaq notifying the Company that the stockholders’ equity as reported on its Quarterly R...

 PRESS RELEASE

 EzFill Holdings, Inc. Announces Strategic Transactions and Debt Restr...

 EzFill Holdings, Inc. Announces Strategic Transactions and Debt Restructuring Converts $13.5 Million of Debt to Equity NextNRG Invests an Additional $1.4 Million MIAMI, FL, Aug. 20, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fueling industry, today announced a series of strategic transactions aimed at bolstering its financial position and regaining compliance with Nasdaq listing requirements, subject to Nasdaq confirmation. The transactions, which have closed, leave the Company essentially debt ...

 PRESS RELEASE

EzFill Announces 2024 Second Quarter Financial Results

EzFill Announces 2024 Second Quarter Financial Results -- Revenue Increased 21% Year Over Year to Approximately $7.4 Million From $6.1 Million -- -- Gross Profit Increased 14% From The Prior Year Period -- -- Gallons Delivered Approximately 1.84 Million, Up 16% From The Prior Year Period – -- 40 New Commercial Accounts Added in Quarter -- -- Loss Per Share Improves 6% from $(1.78) to $(1.67) -- MIAMI, FL, Aug. 15, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fueling industry, announced...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch