VIASP Via Renewables, Inc.

Overview and Growth

Via Renewables, Inc. generated $463.45M of revenue in fiscal 2025, with net income of $19.15M and an operating cash inflow of $42.10M. At $463.45M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 16.2% above fiscal 2024 revenue of $398.87M, marking a year-over-year increase. On a per-share basis, diluted EPS was $2.70, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 50.7% decrease from fiscal 2024 diluted EPS of $5.48. Asset turnover was 1.4x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $141.64M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 30.6% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $53.53M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 11.6%, showing how efficiently sales converted into operating profit. After all reported below-operating-line items, the company recorded net income of $19.15M for the fiscal year. The final earnings result represented 4.1% of revenue, connecting the absolute net income figure with the company’s top-line scale. Before income taxes, the company reported $46.11M of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 9.9%, adding a pre-tax profitability layer between revenue and net income. The company recognized $10.52M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 22.8% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

At period end, the $331.29M asset base was financed through $197.15M of liabilities and $77.37M of equity. At period end, current assets of $196.22M compared with current liabilities of $77.10M, defining the company’s short-term resource position. At 2.55x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $41.76M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 54.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $120.00M of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 1.55x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 36.2%, comparing borrowing with the total asset balance. The liabilities-to-assets relationship was 59.5%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 12.6% of total assets, showing the liquid cash component within the company’s broader resource base.

Cash Flow and Earnings Quality

The company reported $42.10M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 2.2x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $2.96M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 7.0% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $39.13M of positive free cash flow for the period. Free cash flow represented 8.4% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 11.8%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.