Genie Energy Ltd.
Genie Energy Ltd. is a U.S.-based energy services company with two main businesses: retail energy supply through Genie Retail Energy and distributed/renewable energy services through Genie Renewables. It sells electricity and natural gas to residential and small-business customers in deregulated markets, while also developing solar projects and providing energy procurement advisory services to commercial and industrial clients.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaRetail supply of electricity and natural gas to residential and small business customers in deregulated markets.
Integrated solar business that develops, constructs and operates solar energy projects.
Marketing of community solar and complementary alternative energy products and services.
Energy procurement advisory and brokerage services for commercial and industrial customers.
Tuotteet
Raportoitu · osuus liikevaihdosta- Electricity82,2 %
- Oil and Gas13,1 %
- Other4,7 %
Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
Genie’s core customers are residential and small-business energy users in deregulated U.S. states, where it competes as a retail electricity and natural gas provider. Its renewable segment serves solar project customers, community solar participants, and commercial and industrial buyers that want procurement advice or alternative energy solutions. Utility companies are also important counterparties because they collect receivables under purchase-of-receivables programs and therefore carry part of the credit risk.
Households buying electricity and natural gas from GRE for convenience, price options and local utility-billing integration.
Small commercial accounts buying retail energy supply and service plans in deregulated territories.
Businesses using Diversegy for energy procurement advisory, transaction support and related fees.
Customers and counterparties engaging Genie Solar and CityCom Solar for project development and alternative energy offerings.
Utilities that buy receivables under POR programs and handle billing/collection, reducing direct customer credit exposure.
Strategia
Genie is shifting Genie Solar away from lower-margin commercial projects toward utility-scale solar development and operation, aiming for a better long-term project mix. At the same time, it is growing Diversegy through more customers and transactions, while maintaining the core retail energy franchise in deregulated markets. The company also manages capital intensity and liquidity through selective project spending, lease commitments, and performance-bond capacity.
Management says it is moving away from lower-margin commercial work to improve project economics and long-term returns.
Diversegy is growing through more customers and transactions, supporting diversification away from pure retail supply.
GRE remains the dominant revenue engine and provides scale, but depends on state-level market access and utility programs.
Maantiede
2025Genie’s business is concentrated in the United States, with GRE operating in a set of deregulated states and Washington, D.C. The company’s retail exposure is tied to local utility structures and purchase-of-receivables programs, while solar development activity is project-based and can be spread across selected U.S. locations. The 10-Q specifically names California, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Texas, Rhode Island and Washington, D.C. as GRE markets.
Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.
Riskit
Genie’s earnings are exposed to volatile electricity and natural gas prices, weather-driven demand swings, and regulatory changes in retail energy markets. The company also faces customer concentration, utility counterparty credit risk under purchase-of-receivables programs, and litigation/regulatory scrutiny of sales and marketing practices. Renewable project execution, capital spending, and derivative mark-to-market volatility can further affect reported results.
Retail energy margins depend on electricity and natural gas purchase/sale spreads, which move with market prices.
Kohdistuu: GRE segment
Under POR programs, utilities assume receivables and become the primary credit exposure for those balances.
Kohdistuu: Accounts receivable and cash collection
Cold winters and hot summers drive demand for heating and cooling, creating quarter-to-quarter revenue swings.
Kohdistuu: Retail energy sales
A single customer represented 12.3% of consolidated revenues in Q1 2025, increasing volatility if volumes change.
Kohdistuu: Revenue concentration
Retail energy sales practices have been subject to class actions and agency inquiries in the past.
Kohdistuu: Sales and marketing practices
Kirjanpito
Harkinnanvaraiset erätDifferent businesses recognize revenue differently, affecting timing and comparability across segments.
Vaikutus: Retail supply, solar development and advisory fees may not follow the same pattern
The company does not apply hedge accounting to options and swaps, so fair value changes hit cost of revenue.
Vaikutus: Can create quarter-to-quarter volatility in gross profit
Utility purchase-of-receivables programs shift credit exposure and influence bad debt assumptions.
Vaikutus: Affects receivables valuation and cash flow timing
Operating leases for offices and solar projects create future payment obligations and right-of-use assets.
Vaikutus: Impacts balance sheet leverage and operating expense presentation
Solar and operating acquisitions require valuation judgments and may create impairment risk.
Vaikutus: Can affect reported assets and future impairment charges
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
Via Renewables, Inc.
VIASP · Electric & Other Services Combined
Portland General Electric Co
POR · Electric Services
Portland General Electric is a vertically integrated electric utility headquartered in Portland, Oregon, that generates, transmits, distributes, and sells…
MGE Energy Inc
MGEE · Electric, Gas & Sanitary Services
FirstEnergy Corp
FE · Electric Services
Duke Energy CORP
DUK · Electric & Other Services Combined
Duke Energy is a U.S.
ReNew Energy Global plc
RNW · Electric Services
ReNew Energy Global plc is a renewable power and decarbonization company focused on utility-scale solar, wind, hydro, and battery energy storage projects in India.
Päivitetty: 28.4.2026