Genie Energy Ltd. Goodwill & Intangibles Disclosure
Note 8 — Goodwill and Other Intangibles
The table below reconciles the change in the carrying amount of goodwill for the period from January 1, 2024 to December 31, 2025:
| GRE | GREW | Total | ||||||||||
| (in thousands) | ||||||||||||
| Balance at January 1, 2024 | $ | 9,998 | — | 9,998 | ||||||||
| Consolidation of Roded | — | 2,660 | 2,660 | |||||||||
| Cumulative translation adjustment | — | 91 | 91 | |||||||||
| Balance at December 31, 2024 | $ | 9,998 | $ | 2,751 | $ | 12,749 | ||||||
| Cumulative translation adjustment | — | 229 | 229 | |||||||||
| Balance at December 31, 2025 | $ | 9,998 | $ | 2,980 | $ | 12,978 | ||||||
The Company performed its annual goodwill impairment test as of October 1, 2025. The Company elected to perform a qualitative analysis. The Company determined, after performing a qualitative analysis, that there was no evidence that it is more likely than not that the fair value of any identified reporting unit was less than the carrying amounts, therefore, it was not necessary to perform a quantitative impairment test.
The table below presents information on the Company’s other intangible assets:
| Weighted | ||||||||||||||||
| Average | Gross | |||||||||||||||
| Amortization | Carrying | Accumulated | Net | |||||||||||||
| Period (years) | Amount | Amortization | Balance | |||||||||||||
| December 31, 2025 | (in thousands) | |||||||||||||||
| Patents and trademarks | $ | 2,860 | $ | (1,322 | ) | $ | 1,538 | |||||||||
| Customer relationships | 1,100 | (1,019 | ) | 81 | ||||||||||||
| Licenses | 479 | (294 | ) | 185 | ||||||||||||
| TOTAL | $ | 4,439 | $ | (2,635 | ) | $ | 1,804 | |||||||||
| December 31, 2024 | ||||||||||||||||
| Patents and trademarks | $ | 3,510 | $ | (1,580 | ) | $ | 1,930 | |||||||||
| Customer relationships | 1,100 | (896 | ) | 204 | ||||||||||||
| Licenses | 479 | (246 | ) | 233 | ||||||||||||
| TOTAL | $ | 5,089 | $ | (2,722 | ) | $ | 2,367 | |||||||||
The Company assessed the impairment of intangibles related to solar projects in light of the enactment of OBBB. In the fourth quarter of 2025, Prism provided full of its patent and trademark for an aggregate amount of $0.2 million.
Amortization expense of intangible assets were $0.3 million, $0.4 million and $0.4 million in the years ended December 31, 2025, 2024 and 2023, respectively. The Company estimates that the amortization expense of intangible assets will be $0.3 million, $0.2 million, $0.1 million, $0.2 million, $0.2 million and $0.8 million in the years ending December 31, 2026, 2027, 2028, 2029, 2030 and thereafter, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | May 1, 2026 | Showing above |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 15, 2023 | |
| 2021 | Mar 16, 2022 | |
| 2020 | Mar 16, 2021 | |
| 2019 | Mar 16, 2020 | |
| 2018 | Mar 19, 2019 | |
| 2017 | Mar 16, 2018 | |
| 2016 | Mar 16, 2017 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.