Genie Energy Ltd. released its full‑year 2025 financial results, reporting total revenue of $501.97 million, up 18.5% from $425.20 million in 2024, and sales of $478.45 million, a 19.4% increase over the prior year. Net income fell to $24.01 million from $35.51 million, while basic earnings per share from continuing operations dropped to $1.07 from $1.44, and diluted EPS declined to $1.06 from $1.42.
Revenue growth was driven primarily by the Genie Retail Energy segment, which benefited from higher retail energy demand and a favorable mix of residential and commercial customers. The Genie Renewables segment, focused on solar projects, posted a decline in revenue due to the accelerated phase‑out of federal solar tax credits under the OBBB Act, leading to impairments and the discontinuation of several projects.
The decline in net income and EPS reflects margin compression across both segments. Rising commodity costs and higher operating expenses in the retail segment, combined with the loss of solar project revenue and the impact of accounting restatements, eroded profitability. The company also incurred one‑time charges related to the restatement of 2023 and 2024 financial statements, which contributed to the lower earnings.
Management maintained its 2026 guidance at the lower end of the previously issued Adjusted EBITDA range of $40–$50 million, signaling cautious confidence amid ongoing cost pressures and regulatory headwinds. The guidance reflects expectations of steady revenue growth but acknowledges the need to manage margin erosion and invest in renewable portfolio expansion.
Genie Energy disclosed that it has restated its 2023 and 2024 financial statements due to accounting errors linked to its captive insurance subsidiary, resulting in a material weakness in internal control over financial reporting as of December 31 2025. The company’s former auditor’s registration was revoked, and a new audit engagement has been initiated to address these governance concerns.
The company’s customer base in the retail segment experienced a modest decline in meter count and an increase in churn, partly driven by the expiration of aggregation contracts. In the renewables segment, the OBBB Act’s removal of solar tax credits has reduced project viability, prompting the company to reassess its solar investment strategy and focus on higher‑margin renewable initiatives.
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