EzFill Announces Preliminary Unaudited 2022 Fourth Quarter Revenues of Approximately $4.9 Million, Up 143 % From Prior Year Period
11 February 2023 - 1:27AM
EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a
pioneer and emerging leader in the mobile fuel industry, announced
that, based on the information and data currently available, it
expects to report 2022 fourth quarter revenues of approximately
$4.9 million, an increase of approximately $2.9 million, or 143%
from the prior year period. Full year revenues for 2022 are
expected to be approximately $15.0 million, an increase of $7.8
million, or 108% from the prior year period. At the same time, the
Company announced it added nine new fleet accounts during the month
of January.
The revenue increase in the fourth quarter was
driven primarily by strong growth in the fleet business, as
reported when the Company previously announced its gallons
delivered rose in the fourth quarter. Contributing to the 2022
growth were approximately 100 new fleet accounts. The new fleet
accounts in January include companies ranging from moving and
storage businesses, to plumbing and building supply companies, to
freight shipping and facilities maintenance services. The new
accounts will receive regularly scheduled fuel deliveries for
approximately 230 customer assets and are expected to result in
approximately 460,000 additional gallons of fuel delivered and
approximately $2.0 million incremental revenue annually for EzFill
based on recent fuel prices.
Mike McConnell, EzFill Chief Executive Officer,
commented, “We closed out the 2022 year strong and the new year is
off to an equally strong start with nine new fleet accounts,
building on the momentum we took into the last month of 2022. The
January new accounts are expected to add about 460,000 gallons
annually, resulting in approximately $2.0 revenue based on recent
fuel prices. In the fourth quarter of 2022, we delivered 1.24
million gallons. So, in just one month, we’ve already added almost
10% to the amount delivered in the prior three months.”
EzFill expects to report 2022 full year
financial results in the second week of March 2023. EZFill has not
completed the preparation of its consolidated financial statements
for the year ended December 31, 2022. The preliminary, unaudited
results presented in this press release as of and for the fourth
quarter and year ended December 31, 2022 are based on current
expectations and are subject to adjustment, as EZFill completes the
preparation of its 2022 year-end consolidated financial statements.
These preliminary, unaudited results are not a comprehensive
statement of EZFill’s financial results for these periods and
should not be viewed as a substitute for financial statements
prepared in accordance with generally accepted accounting
principles. Actual results may differ materially from those
disclosed in this press release.
About EzFill
EzFill is a leader in the fast-growing mobile
fuel industry, with the largest market share in its home state of
Florida. Its mission is to disrupt the gas station fueling model by
providing consumers and businesses with the convenience, safety,
and touch-free benefits of on-demand fueling services brought
directly to their locations. For commercial and specialty
customers, at-site delivery during downtimes enables operators to
begin their daily operations with fully fueled vehicles. For more
information, visit www.ezfl.com.
With the number of gas stations in the U.S.
continuing to decline, corporate giants such as Shell, Exxon, GM,
Bridgestone, Enterprise, and Mitsubishi have recognized the
increasing shift in consumer behavior and are investing in the fast
growing on-demand mobile fueling industry. As the only company to
provide fuel delivery in three vertical segments - consumer,
commercial, and specialty including marine, we believe EzFill is
well positioned to capitalize on the growing demand for convenient
and cost-efficient mobile fueling options.
Forward Looking Statements
This press release contains “forward-looking
statements” Forward-looking statements reflect our current view
about future events. When used in this press release, the words
“anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,”
“plan,” or the negative of these terms and similar expressions, as
they relate to us or our management, identify forward-looking
statements. Such statements, include, but are not limited to,
statements contained in this press release relating to our business
strategy, our future operating results and liquidity and capital
resources outlook. Forward-looking statements are based on our
current expectations and assumptions regarding our business, the
economy and other future conditions. Because forward–looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. Our actual results may differ materially from
those contemplated by the forward-looking statements. They are
neither statements of historical fact nor guarantees of assurance
of future performance. We caution you therefore against relying on
any of these forward-looking statements. Important factors that
could cause actual results to differ materially from those in the
forward-looking statements include, without limitation, our ability
to raise capital to fund continuing operations; our ability to
protect our intellectual property rights; the impact of any
infringement actions or other litigation brought against us;
competition from other providers and products; our ability to
develop and commercialize products and services; changes in
government regulation; our ability to complete capital raising
transactions; and other factors relating to our industry, our
operations and results of operations. Actual results may differ
significantly from those anticipated, believed, estimated,
expected, intended or planned.
Factors or events that could cause our actual
results to differ may emerge from time to time, and it is not
possible for us to predict all of them. We cannot guarantee future
results, levels of activity, performance or achievements. The
Company assumes no obligation to update any forward-looking
statements in order to reflect any event or circumstance that may
arise after the date of this release.
Investor and Media Contact:Tradigital Investor RelationsJohn
McNamarajohn@tradigitalir.com
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