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Via Renewables Adjusted EBITDA Falls On Lower Unit Margins; Reports RCE Count
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Via Renewables, Inc. reported Adjusted EBITDA of $14.4 million for the three months ended March 31, 2026, down from $27.7 million a year ago
Via stated in a note that, "Adjusted EBITDA for three months ended March 31, 2026 includes an add back of $2.7 million and less than 0.1 million, respectively, related to non-recurring winter storm loss and merger agreement expense. Adjusted EBITDA for the three months ended March 31, 2025 includes an add back of $(0.2) million related to merger agreement expense".
Via Renewables' Retail Gross Margin was $27.2 million for the three months ended March 31, 2026, down from $46.5 million a year ago
Lower unit margins during the quarter ended March 31, 2026 were responsible for an $18.7 million decline in Retail Gross Margin
Retail Electricity Gross Margin per MWh was $13.89 per MWh for the three months ended March 31, 2026, versus $38.40 per MWh a year ago
Retail Natural Gas Gross Margin per MMBtu was $2.70 per MMBtu for the three months ended March 31, 2026, versus $3.36 per MMBtu a year ago
Via's RCE count was 418,000 as of March 31, 2026, marginally down from 421,000 as of December 31, 2025
During the three months ended March 31, 2026, Via added a gross of approximately 53,000 RCEs, primarily through various organic sales channels.
Customer acquisition cost for the three months ended March 31, 2026 was approximately $2.8 million, an increase of approximately $1.3 million, or 87%, from approximately $1.5 million for the three months ended March 31, 2025, primarily due to an increase in the sales activity in the first quarter of 2026 as compared to the first quarter of 2025
Average monthly customer attrition for the three months ended March 31, 2026 and 2025 was 4.5% and 4.3%, respectively. Customer attrition was higher in the current-year quarter than the prior period primarily due to increased sales activity during three months ended March 31, 2026.
Via's credit loss expense for the three months ended March 31, 2026 and 2025 was 1.1% and 0.9%, respectively, for non-purchase of receivables market revenues. As Via has increased sales activities in non-POR markets, Via has experienced a slight increase in credit loss expense during the three months ended March 31, 2026.
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April 30, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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