EzFill reports Q1 EPS (70c) vs. (99c) last year

Reports Q1 revenue $5.2M vs. $2.3M last year. Commenting on the first quarter results, Interim CEO Yehuda Levy stated, "Our first quarter financial results reflect significant improvement in both the comparison to the prior year first quarter, and sequentially from the fourth quarter of 2022. Of particular note is that we increased our gallons delivered to another record in the first quarter of 2023, which was 122% higher year over year. This was despite our reallocation of resources this quarter from a low margin large account to several new accounts, that combined with other price increases resulted in an average fuel margin per gallon that was 4 cents higher than in the fourth quarter of 2022. We have successfully diversified our fleet customer base by adding almost 150 new fleets since our IPO in September 2021, including 34 in the first quarter of 2023. We have reduced losses on both a GAAP basis and Adjusted EBITDA, demonstrating our focus on efficient growth. We began some exciting account relationships during the quarter, and we renewed our agreement to provide mobile fueling services for the Formula 1 Crypto.com Grand Prix. We have also grown our existing relationship with one of the nation’s largest grocers. All of our five locations in Florida are now contributing significantly to revenue. "We welcome the recent addition of Avi Vaknin as Chief Technology Officer and are happy to report that he has already had an impact on our cost reduction efforts by enhancing the technological capabilities that we expect will enable us to further improve our driver efficiency, our margins and the overall scalability of the business. We also enhanced our Board of Directors with the addition of Daniel Arbour, a veteran of the mobile fueling business. We have 40 trucks in our fleet, which provides more than enough capacity for our near-term growth. Since the fourth quarter of 2022, we have been managing our operating expenses very closely now that our core infrastructure is built out, which has resulted in a significant improvement in our bottom line result and our cash flow. We continue to be opportunistic about expansion throughout the large and growing Florida market and beyond, and will continue to be careful and focused in our spending as we execute our business plan."