Genie Energy Ltd.

For the period ended Mar 31, 2025. Filed May 9, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 9, 2025

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

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Contents

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

	March 31,2025	December 31,2024
	(Unaudited)	(Note 1)
Assets
Current assets:
Cash and cash equivalents (including amounts related to variable interest entity of $255 and $263 at March 31, 2025 and December 31, 2024, respectively)	$112,544	$104,456
Restricted cash—short-term	27,178	26,608
Marketable equity securities	405	357
Trade accounts receivable, net of allowance for doubtful accounts of $8,238 and $8,086 at March 31, 2025 and December 31, 2024, respectively (including accounts receivable related to variable interest entity of $255 and $250 at March 31, 2025 and December 31, 2024, respectively)	64,218	61,858
Inventory	13,726	12,188
Prepaid expenses (including amounts related to variable interest entity of $130 and $307 at March 31, 2025 and December 31, 2024, respectively)	9,503	9,893
Other current assets	9,207	8,493
Current assets of discontinued operations	1,727	3,594
Total current assets	238,508	227,447
Restricted cash—long-term	70,104	69,580
Property and equipment, net	26,866	25,246
Goodwill	12,686	12,749
Other intangibles, net	2,275	2,367
Deferred income tax assets, net	7,045	7,055
Other assets (including amounts related to variable interest entity of $364 and $363 at March 31, 2025 and December 31, 2024, respectively)	22,305	22,365
Noncurrent assets of discontinued operations	4,589	4,466
Total assets	$384,378	$371,275

Liabilities and equity
Current liabilities:
Trade accounts payable	29,752	31,233
Accrued expenses (including amounts related to variable interest entity of $476 and $502 at March 31, 2025 and December 31, 2024, respectively)	52,497	48,793
Income taxes payable	13,596	9,196
Current captive insurance liability	9,236	9,120
Current debt, net	2,167	357
Due to IDT Corporation, net	136	135
Other current liabilities	6,227	6,393
Current liabilities of discontinued operations	3,706	4,585
Total current liabilities	117,317	109,812
Noncurrent captive insurance liability	70,104	69,580
Noncurrent debt, net	6,838	8,668
Other liabilities	2,022	2,959
Noncurrent liabilities of discontinued operations	707	705
Total liabilities	196,988	191,724
Commitments and contingencies	—	—
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 March 31, 2025 and December 31, 2024	—	—
Class A common stock, $0.01 par value; authorized shares—35,000; 1,574 shares issued and outstanding at March 31, 2025 and December 31, 2024	16	16
Class B common stock, $0.01 par value; authorized shares—200,000; 29,324 and 29,310 shares issued and 25,336 and 25,482 shares outstanding at March 31, 2025 and December 31, 2024, respectively	293	293
Additional paid-in capital	159,981	159,192
Treasury stock, at cost, consisting of 3,988 and 3,828 shares of Class B common stock at March 31, 2025 and December 31, 2024	(39,835)	(37,486)
Accumulated other comprehensive income	4,373	3,919
Retained earnings	73,178	64,574
Total Genie Energy Ltd. stockholders’ equity	198,006	190,508
Noncontrolling interests:
Noncontrolling interests	(9,833)	(10,174)
Receivable from issuance of equity	(783)	(783)
Total noncontrolling interests	(10,616)	(10,957)
Total equity	187,390	179,551
Total liabilities and equity	$384,378	$371,275

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