News Stories

In a 10-Q, Via Renewables, Inc. reported that, on May 23, 2025, Via entered into an agreement to acquire 100% of the membership interests in NGE Texas, LLC (‘NGE Texas’) for a nominal purchase price of $1 and a working capital payment of approximately $1.0 million, consisting entirely of restricted cash in the form of a Letter of Credit and ERCOT collateral.

“The primary purpose of the transaction was to obtain NGE Texas’s existing Texas retail electricity license, which is required to operate as a retail electricity provider in the state of Texas,” Via said

Separately, as previously reported, in April 2025, Via Renewables, Inc. entered into two asset purchase agreements to acquire up to approximately 16,800 RCEs for a cash purchase price of up to a maximum of $1.8 million.

Via’s latest 10-Q confirms that the subject RCEs are gas RCEs, and Via provided an update on the number of customers transferred, and consideration paid, as of June 30, 2025

Via stated, “In April and May 2025, we entered into two asset purchase agreements to acquire up to 16,800 RCEs for a cash purchase price of up to a maximum $1.8 million paid in cash or funded into escrow accounts. These gas customers are located in our existing markets and began transferring in May 2025 and June 2025. As we acquired customers under these acquisition agreements, we will make payments to the sellers from the escrow accounts. Funds from the escrow account will be released to the sellers as acquired customers transfer from the sellers to the Company in accordance with the asset purchase agreement, and any unallocated balance will be returned to the Company once the acquisitions are complete. During the six months ended June 30, 2025, approximately 9,300 RCEs were transferred related to customer book acquisitions, and we paid $0.4 million to the sellers. As of June 30, 2025, the balance is [sic] the escrow accounts was $1.4 million.”

Via likewise provided an update on several separate earlier book acquisitions

Via stated, “In April 2024, we entered into an asset purchase agreement to acquire up to approximately 12,556 residential customer equivalents (‘RCEs’) for a cash purchase price of up to a maximum of $2.3 million. These customers began transferring in June of 2024, and were in our existing markets. As part of the acquisition, we funded an escrow account, the balance of which was reflected as restricted cash in our condensed consolidated balance sheet. As we acquired customers, we made payments to the sellers from the escrow account. As of December 31, 2024, we completed this acquisition and approximately 9,300 RCEs were transferred. The balance of $0.4 million in the escrow account as of December 31, 2024, was returned to the Company in the first quarter of 2025. As of June 30, 2025, the balance in the escrow account was zero.”

Via stated, “In October 2024, we entered into two asset purchase agreements to acquire up to 100,600 RCEs for a cash purchase price of up to a maximum $16.9 million paid in cash or funded into escrow accounts. These customers are located in our existing markets and began transferring in December 2024 and January 2025. As we acquired customers under these acquisition agreements, we made payments to the sellers from the escrow accounts. Funds from the escrow account were released to the sellers as acquired customers transferred from the sellers to the Company in accordance with the asset purchase agreement, and any unallocated balance will be returned to the Company once the acquisitions are complete. As of December 31, 2024, approximately 72,700 RCEs were transferred. During the six months ended June 30, 2025, approximately 26,300 RCEs were transferred for a total of approximately 99,000 RCEs as of June 30, 2025 related to customer book acquisitions. As of June 30, 2025 and December 31, 2024, the balance is the escrow accounts was $1.0 million and $15.5 million, respectively.”

Via reported that it was serving 402,000 RCEs as of June 30, 2025, versus 407,000 as of March 31, 2025

Via reported that, “During the three months ended June 30, 2025, we added approximately 27,700 RCEs primarily through our various organic sales channels,” with the referenced additions being gross additions.

Average monthly customer attrition for the three months ended June 30, 2025 and 2024 was 3.5% and 3.4%, respectively.

Customer acquisition cost for the three months ended June 30, 2025 was approximately $2.6 million, an increase of approximately less than $0.1 million, or 2%, from approximately $2.6 million in the three months ended June 30, 2024, primarily due to a slight increase in the sales activity in the second quarter of 2025 as compared to the second quarter of 2024.

Via reported Adjusted EBITDA of $13.960 million for the quarter ending June 30, 2025, versus $12.363 million in the year-ago quarter.

Via reported Retail Gross Margin of $32.722 million for the quarter ending June 30, 2025, versus $33.387 million in the year-ago quarter

General and administrative expense for the three months ended June 30, 2025 was approximately $15.6 million, a decrease of approximately $5.3 million, or 25%, as compared to $20.9 million for the three months ended June 30, 2024. This decrease was primarily attributable to a decrease in bad debt expense and legal expenses in the second quarter of 2025 as compared to the second quarter of 2024, and stock compensation expenses related to the Retailco, LLC Merger (background) in the second quarter of 2024 that did not reoccur in 2025.