Genie Energy Ltd.
For the period ended Dec 31, 2025. Filed May 1, 2026.
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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.
FY2025 · Filed May 1, 2026
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| (As restated) · (As restated) | |||
| OPERATING ACTIVITIES | |||
| Net income | $23,715 | $35,216 | $52,983 |
| Net income (loss) from discontinued operations, net of tax | (4,164) | (2,907) | 6,409 |
| Net income from continuing operations | 27,879 | 38,123 | 46,574 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,005 | 884 | 463 |
| Deferred income taxes | 3,314 | (1,203) | 1,380 |
| Provision for credit losses | 2,011 | 2,359 | 2,362 |
| Stock-based compensation | 2,535 | 2,392 | 2,829 |
| Inventory valuation allowance | 1,254 | 417 | 1,148 |
| Impairment of assets | 1,642 | 185 | — |
| Unrealized (gain) loss on marketable equity securities and investments and others | (1,598) | (766) | (23) |
| Charitable donation of Class B common stock | — | — | 1,006 |
| Change in assets and liabilities, net of effect of acquisition: | |||
| Trade accounts receivable | (10,215) | (2,214) | (9,137) |
| Inventory | 3,004 | 917 | (8,714) |
| Prepaid expenses | (1,329) | 5,326 | (6,089) |
| Other current assets and other assets | (399) | (1,784) | 448 |
| Trade accounts payable, accrued expenses and other current liabilities | 16,968 | 3,100 | 22,986 |
| Due to IDT Corporation | (23) | (10) | (20) |
| Income taxes payable | (1,987) | 12,535 | (4,275) |
| Net cash provided by operating activities of continuing operations | 44,061 | 60,261 | 50,938 |
| Net cash provided by operating activities of discontinued operations | 2,274 | 10,481 | 11,540 |
| Net cash provided by operating activities | 46,335 | 70,742 | 62,478 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (8,174) | (6,696) | (1,363) |
| Purchase of marketable equity securities and other investments | (6,167) | (6,142) | (11,019) |
| Purchase and improvement of investment property, net of noncontrolling interest portion paid by Howard Jonas | (1,890) | (1,237) | — |
| Proceeds from sale of marketable equity securities and other investments | 1,204 | 582 | 10,042 |
| Purchase of equity of subsidiary | (319) | (1,200) | — |
| Purchase of solar system facilities | — | (1,344) | (7,665) |
| Net cash used in investing activities of continuing operations | (15,346) | (16,037) | (10,005) |
| Net cash provided by investing activities of discontinued operations | — | — | 23,645 |
| Net cash (used in) provided by investing activities | (15,346) | (16,037) | 13,640 |
| FINANCING ACTIVITIES | |||
| Dividends paid | (8,023) | (8,210) | (8,874) |
| Repurchases of Class B common stock | (8,663) | (10,443) | (37) |
| Repurchases of Class B common stock from employees in connection with vesting of restricted shares | (2,125) | (2,168) | (1,571) |
| Repurchases of Class B common stock from employees in connection with exercise of stock options | — | (1,446) | (1,310) |
| Payment of term loan | (333) | — | — |
| Repurchase of Class B common stock from Genie Foundation | — | (768) | — |
| Proceeds from term loan, net | — | 7,285 | — |
| Proceeds from exercise of warrants | — | — | 5,001 |
| Redemption of preferred stock | — | — | (8,359) |
| Net cash used in financing activities of continuing operations | (19,144) | (15,750) | (15,150) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (51) | 7 | (67) |
| Net increase in cash, cash equivalents and restricted cash | 11,794 | 38,962 | 60,901 |
| Cash, cash equivalents and restricted cash (excluding discontinued operations) at beginning of year | 200,644 | 162,996 | 104,578 |
| Cash, cash equivalents and restricted cash (including discontinued operations) at end of year | 212,438 | 201,958 | 165,479 |
| Less: Cash of discontinued operations at end of year | (986) | (1,314) | (2,483) |
| Cash and cash equivalents and restricted cash (excluding discontinued operations) at end of year | $211,452 | $200,644 | $162,996 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||
| Cash payments made for interest | $578 | $98 | $93 |
| Cash payments made for income taxes | $6,995 | $4,415 | $20,445 |
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