Via Renewables Reports 10% Revenue Growth to $103.3 Million in Q3 2025

Via Renewables, Inc. reported its financial results for the third quarter of 2025, revealing total revenues of $103.3 million, a 10% increase from $93.8 million in the same period last year. The growth was primarily driven by higher retail electricity and natural gas sales, attributed to an expanded customer base and increased electricity rates. However, the company experienced a net income of $400,000, a significant decline from $1.7 million in the prior year, largely due to increased operating expenses and losses on derivative instruments.

In comparison to the previous fiscal period, Via Renewables saw a notable rise in operating expenses, which totaled $100.1 million for the quarter, up from $88.8 million a year earlier. This increase was primarily due to higher costs associated with retail revenues and a substantial rise in depreciation and amortization expenses, which surged to $5.6 million from $2.5 million. The company's net asset optimization expenses also contributed to the overall increase in costs, reflecting the volatility in energy markets.

Strategically, Via Renewables has been active in customer acquisitions, adding approximately 57,300 residential customer equivalents (RCEs) during the quarter. The company has also engaged in several asset purchase agreements to acquire customer books, including a recent agreement to acquire 3,300 RCEs for $0.5 million. As of September 30, 2025, the company operated in 106 utility service territories across 21 states and the District of Columbia, indicating a continued geographic expansion.

Operationally, the company reported a total of 419,000 RCEs, with a slight increase in customer attrition rates, averaging 4.0% for the quarter. The company’s focus on managing customer acquisition costs remains critical, with these costs rising to $3.4 million from $2.1 million year-over-year. The company also noted a decrease in bad debt expenses, reflecting improved collection efforts and credit management.

Looking ahead, Via Renewables anticipates continued growth in its customer base and revenue, although it remains cautious about market conditions and regulatory changes that could impact operations. The company is committed to maintaining compliance with its financial covenants under its Senior Credit Facility, which may influence its ability to pay dividends on its Series A Preferred Stock. The outlook for the remainder of 2025 will depend on the company's ability to navigate these challenges while capitalizing on growth opportunities in the retail energy market.