Genie Energy Commo ( (GNE) ) has released a notification of late filing.
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Genie Energy Ltd. has filed a Form 12b-25 to notify investors it will delay its Form 10-K (Yearly Report) for the year ended December 31, 2025. The filing covers a late Annual Report on Form 10-K (Yearly Report) and follows a review of prior financial statements.
The company attributes the delay to a major restatement of financial results for 2023 and 2024 and related interim periods. Errors were found in how Genie accounted for liabilities of its captive insurance subsidiary, which affected cash, tax items and insurance-related balances on its financial statements.
These problems surfaced while auditors were reviewing the consolidated numbers for 2023, 2024 and 2025 after a re-audit became necessary. The re-audit was triggered when the Public Company Accounting Oversight Board revoked the registration of Genie’s former auditor, Zwick CPA, PLLC, forcing the company to redo earlier audits.
Because the 2025 Form 10-K (Yearly Report) must now include restated audited results for 2023 and 2024 in a combined “Comprehensive 10-K (Yearly Report)”, management says it cannot file on time without unreasonable effort and expense. Under SEC rules, Genie expects to submit the delayed Annual Report within 15 calendar days of the original due date.
Management is already signaling that the restatement will show significantly higher profitability in prior years. Preliminary estimates indicate 2023 Income from Operations, Provision for Income Taxes and Net Income will rise by about $45.1 million, $12.4 million and $32.7 million, respectively, and 2024 by $33.6 million, $10.7 million and $22.9 million, though these figures may change.
Investors should treat these figures as forward-looking and subject to revision as the review continues, since the company notes that its analysis remains ongoing. Genie also confirms that all other required periodic reports over the past 12 months have been filed, suggesting the problem is focused on these specific accounting issues.
The company states it is working to complete the restatement and bring its reporting fully up to date in compliance with SEC requirements. The notification is signed on behalf of Genie Energy Ltd. by Chief Financial Officer Avi Goldin, dated March 16, 2026, underscoring executive-level oversight of the process.
The most recent analyst rating on (GNE) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on Genie Energy Commo stock, see the GNE Stock Forecast page.
Spark’s Take on GNE Stock
According to Spark, TipRanks’ AI Analyst, GNE is a Neutral.
Genie Energy’s overall stock score is primarily influenced by its stable financial health, though liquidity concerns and weak technical indicators weigh heavily. The high P/E ratio suggests overvaluation, further impacting the score negatively.
To see Spark’s full report on GNE stock, click here.
More about Genie Energy Commo
Average Trading Volume: 73,025
Technical Sentiment Signal: Hold
Current Market Cap: $381.3M
See more insights into GNE stock on TipRanks’ Stock Analysis page.