Genie Energy Announces Preliminary 2025 Financial Results and Restatement of Prior Periods
Genie Energy (NYSE: GNE) Reports Select, Preliminary, Unaudited Financial Results for Q4 and Full Year 2025
Key Highlights
- Preliminary 2025 Revenue Rose to \$502.0 Million, up from \$425.2 Million in 2024
- Q4 2025 Revenue of \$121.6 Million, up from \$102.9 Million in Q4 2024
- Income from Operations for 2025 was \$44.9 Million, up from \$27.7 Million in 2024
- Restatement Announced for 2023 and 2024 Financial Statements Due to Captive Insurance Accounting Errors
- 2026 Adjusted EBITDA Guidance: \$40–\$50 Million
- Strong Year-End Cash Position: \$211.4 Million at December 31, 2025
Details and Analysis
Genie Energy Ltd., a leading provider of retail and renewable energy solutions, released select, preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2025. This update also includes important information regarding the restatement of prior period financial statements.
Preliminary Financial Results
| Metric |
Q4 2025 |
Q4 2024 |
FY 2025 |
FY 2024 |
| Consolidated Revenue (\$M) |
121.6 |
102.9 |
502.0 |
425.2 |
| Genie Retail Energy (GRE) Revenue (\$M) |
114.6 |
98.4 |
478.5 |
403.3 |
| Genie Renewables (GREW) Revenue (\$M) |
7.0 |
4.5 |
23.5 |
22.0 |
| Consolidated Income from Operations (\$M) |
4.6 |
10.1 |
44.9 |
27.7 |
| GRE Income from Operations (\$M) |
13.2 |
12.6 |
44.2 |
56.5 |
| GREW Income from Operations (\$M) |
(5.7) |
(0.7) |
(7.1) |
(8.8) |
Liquidity Position
- As of December 31, 2025, Genie Energy held \$211.4 million in cash, restricted cash, and cash equivalents, compared to \$200.6 million at the end of 2024.
Restatement Announcement – Highly Material and Potentially Price-Sensitive
Important Notice to Shareholders:
-
The Audit Committee, in consultation with management and the independent registered public accounting firm, has determined that the company’s previously issued financial statements for the years ended December 31, 2024 and 2023, as well as interim quarterly reports for 2024 and 2025, should not be relied upon and require restatement.
-
The restatement is due to errors related to accounting for the liability associated with the company’s captive insurance subsidiary.
-
This is a highly material event, as restatements can impact investor confidence, regulatory compliance, and may result in share price volatility.
2026 Financial Outlook
- For the full year 2026, Genie Energy management projects consolidated Adjusted EBITDA in the range of \$40 to \$50 million.
Management Commentary
“Genie continued to generate strong cash flows in 2025, funding increased investment in promising growth initiatives at both GRE and GREW while further strengthening our balance sheet and returning value to our stockholders.” – Michael Stein, Chief Executive Officer
Potential Price-Sensitive Developments
- The announcement of a restatement of prior financial statements is a significant issue for shareholders and is likely to affect the company’s share price in the short term.
- The company reported strong revenue and income growth for 2025, as well as a robust liquidity position, which may help mitigate some of the negative impact of the restatement.
- Forward-looking guidance is positive, with management expecting continued strong EBITDA in 2026.
Contact Information
Investor Relations Contact:
Bill Ulrey
Genie Energy, Ltd.
[email protected]
Disclaimer
This article contains forward-looking statements based on management’s current expectations and beliefs. Actual results may differ materially due to various risks and uncertainties. The restatement of financial results is a material event and investors should review all related filings and consult with their financial advisors before making investment decisions. The information provided here does not constitute investment advice.
View Genie Energy Ltd. Historical chart here
