Genie Energy Q4 revenue up 28.9% to $104.9M, net loss $24.5M due to $45.1M one-time charge

● Revenue increased 28.9 % to $ 104.9 million from $ 81.4 million; ● Gross profit decreased 3.1 % to $ 33.6 million and gross margin decreased to 32.1 % from 42.7 %; ● Loss from operations of $ 34.2 million compared to income from operations of $ 15.5 million; ο The loss in 4 Q 23 reflects a one -time $ 45.1 million non-cash charge for a loss reserve at Genie's newly established captive insurance operations; ● Adjusted EBITDA 1 decreased 38.0 % to $ 11.4 million from $ 18.5 million; ο The decrease reflects both the strong gross margin achieved at Genie Retail in 4 Q 22 and increased investment in customer acquisitions in 4 Q 23 ; ● Net loss attributable to Genie common stockholders and loss per diluted share (EPS) attributable to Genie common stockholders of $ 24.5 million and $( 0.90 ) compared to net income of $ 16.2 million and diluted earnings per share of $ 0.59 , respectively;