Genie Energy Ltd.

For the period ended Dec 31, 2024. Filed Mar 14, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 14, 2025

GNE$19.25+8.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

(in thousands, except per share amounts)	2024	2023
ASSETS
CURRENT ASSETS:
Cash and cash equivalents (including amounts related to variable interest entity of $263 and $245 at December 31, 2024 and 2023, respectively)	$104,456	$107,609
Restricted cash—short-term	26,608	10,442
Marketable equity securities	357	396
Trade accounts receivable, net of allowance for doubtful accounts of $8,086 and $6,574 at December 31, 2024 and 2023, respectively (including accounts receivable related to variable interest entity of $250 and $275 at December 31, 2024 and 2023, respectively)	61,858	61,909
Inventory	12,188	14,598
Prepaid expenses (including amounts related to variable interest entity of $307 and $313 at December 31, 2024 and 2023, respectively)	9,893	16,222
Other current assets	8,493	5,475
Other current assets of discontinued operations	3,594	13,182
TOTAL CURRENT ASSETS	227,447	229,833
Restricted cash—long-term	69,580	44,945
Property and equipment, net	25,246	15,192
Goodwill	12,749	9,998
Other intangibles, net	2,367	2,735
Deferred income tax assets, net	7,055	5,200
Other assets (including amounts related to variable interest entity of $363 and $360 at December 31, 2024 and 2023, respectively)	22,365	15,247
Noncurrent assets of discontinued operations	4,466	7,405
TOTAL ASSETS	$371,275	$330,555
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Trade accounts payable	$31,233	$27,881
Accrued expenses (including amounts related to variable interest entity of $502 and $533 at December 31, 2024 and 2023, respectively)	48,793	49,389
Income taxes payable	9,196	6,699
Current captive insurance liability	9,120	143
Due to IDT Corporation, net	135	145
Other current liabilities	6,750	9,137
Current liabilities of discontinued operations	4,585	4,858
TOTAL CURRENT LIABILITIES	109,812	98,252
Noncurrent captive insurance liability	69,580	44,945
Noncurrent debt, net	8,668	—
Other liabilities	2,959	2,212
Noncurrent liabilities of discontinued operations	705	638
TOTAL LIABILITIES	191,724	146,047
Commitments and contingencies (Note 16 and Note 17)
EQUITY:
Genie Energy Ltd. stockholders’ equity:
Preferred stock, $0.01 par value; authorized shares – 10,000:
Series 2012-A, designated shares – 8,750; at liquidation preference, consisting of 0 shares issued and outstanding at December 31, 2024 and 2023	—	—
Class A common stock, $0.01 par value; authorized shares – 35,000; 1,574 shares issued and outstanding at December 31, 2024 and 2023	16	16
Class B common stock, $0.01 par value; authorized shares – 200,000; 29,310 and 28,765 shares issued and 25,482 and 25,841 shares outstanding at December 31, 2024 and 2023, respectively	293	288
Additional paid-in capital	159,192	156,101
Treasury stock, at cost, consisting of 3,828 and 2,924 shares of Class B common at December 31, 2024 and 2023, respectively	(37,486)	(22,661)
Accumulated other comprehensive income	3,919	3,299
Retained earnings	64,574	60,196
Total Genie Energy Ltd. stockholders’ equity	190,508	197,239
Noncontrolling interests:
Noncontrolling interest	(10,174)	(12,731)
Receivable from issuance of equity	(783)	—
Total noncontrolling interests	(10,957)	(12,731)
TOTAL EQUITY	179,551	184,508
TOTAL LIABILITIES AND EQUITY	$371,275	$330,555

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