Genie Energy Ltd.
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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$19.14-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| (in thousands) | ||
| Operating activities | ||
| Net income | $10,301 | $8,169 |
| Net loss from discontinued operations, net of tax | (104) | (265) |
| Net income from continuing operations | 10,405 | 8,434 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for captive insurance liability | 645 | 1,036 |
| Depreciation and amortization | 235 | 219 |
| Provision for doubtful accounts receivable | 309 | 729 |
| Stock-based compensation | 739 | 749 |
| Unrealized gain on marketable equity securities and investments and others, net | (171) | (49) |
| Inventory valuation allowance | — | 417 |
| Changes in assets and liabilities: | ||
| Trade accounts receivable | (2,668) | 1,093 |
| Inventory | (1,538) | (2,191) |
| Prepaid expenses | 390 | 581 |
| Other current assets and other assets | (209) | 505 |
| Trade accounts payable, accrued expenses and other liabilities | 981 | (5,694) |
| Due to IDT Corporation, net | 1 | (25) |
| Income taxes payable | 4,400 | 2,914 |
| Net cash provided by operating activities of continuing operations | 13,519 | 8,718 |
| Net cash provided by operating activities of discontinued operations | 1,830 | 4,208 |
| Net cash provided by operating activities | 15,349 | 12,926 |
| Investing activities | ||
| Capital expenditures | (1,773) | (1,206) |
| Improvements in investment property | (370) | — |
| Purchase of solar system facility | — | (1,344) |
| Purchases of marketable equity securities and other investments | — | (2,094) |
| Purchase of equity of subsidiary | — | (1,200) |
| Proceeds from return of investments | 50 | — |
| Net cash used in investing activities | (2,093) | (5,844) |
| Financing activities | ||
| Dividends paid | (2,026) | (2,121) |
| Repurchases of Class B common stock | (1,887) | (4,101) |
| Repurchases of Class B common stock from employees | (462) | (1,508) |
| Net cash used in financing activities | (4,375) | (7,730) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (80) | 74 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 8,801 | (574) |
| Cash, cash equivalents, and restricted cash (including cash held at discontinued operations) at beginning of period | 201,958 | 165,479 |
| Cash, cash equivalents and restricted cash (including cash held at discontinued operations) at end of the period | 210,759 | 164,905 |
| Less: Cash of discontinued operations at end of period | 933 | 2,886 |
| Cash, cash equivalents, and restricted cash (excluding cash held at discontinued operations) at end of period | $209,826 | $162,019 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.