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MIAMI - AI-powered energy company NextNRG, Inc. (NASDAQ: NXXT), currently valued at $355 million with a notable 52% revenue growth over the last twelve months, will be added to the Russell 2000 and Russell 3000 Indexes following FTSE Russell’s annual reconstitution, according to a company press release statement. InvestingPro analysis shows the stock tends to move independently of broader market trends, with a beta of -0.6.
The inclusion will take effect after market close on Friday, June 27, 2025, with trading in the reconstituted indexes beginning on Monday, June 30, 2025.
The Russell indexes, which serve as benchmarks for approximately $10.6 trillion in assets according to FTSE Russell estimates, are widely used by investment managers and institutional investors for index funds and performance measurement.
Michael D. Farkas, Founder and CEO of NextNRG, called the inclusion "an important milestone in our continued growth" in the press release.
The Russell reconstitution annually ranks the 3,000 largest U.S. stocks by total market capitalization, with companies in the Russell 3000 Index automatically assigned to either the large-cap Russell 1000 or small-cap Russell 2000 Index.
NextNRG describes itself as an energy innovation company that implements artificial intelligence and machine learning technologies across renewable energy infrastructure, battery storage, wireless EV charging, and mobile fuel delivery services. The company operates its proprietary Next Utility Operating System and deploys smart microgrids designed for various commercial and institutional properties.
The company recently expanded its mobile fuel delivery operations through acquisitions including Yoshi Mobility’s fuel division and Shell Oil’s trucks, according to the announcement.
In other recent news, NextNRG Inc. reported a significant 146% increase in revenue for the first quarter of 2025, amounting to $16.3 million. Despite this impressive growth, the company faced a net loss of $8.9 million, or $1.60 per share. This loss is attributed to strategic expansions and investments in new technologies, including smart microgrids and wireless charging solutions. The company also experienced a substantial rise in delivery volumes, reaching 4.7 million gallons, which is a 183% increase from the previous year. NextNRG’s cash position improved by 31%, ending the quarter with $2.1 million, and the company successfully raised over $50 million in equity financing. On the strategic front, NextNRG is focusing on expanding its smart microgrid deployments and developing wireless charging technologies. The company is also finalizing a partnership with an industry financer to secure funding for over 1 gigawatt of utility microgrid projects. These developments reflect NextNRG’s commitment to innovation and growth in the energy sector.
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