The front page of the Dallas Morning News May 14 business section featured Ambit Energy and the company’s prolific rise to $1 billion in revenue in just seven years. The Dallas-based company is one of just nine retail energy providers in America with more than 1 million customers. Ambit is also the largest direct seller of energy in the world.
The article noted that Ambit has experienced 44 percent revenue growth year over year. The company is expected to reach $1.2 billion in revenue by the end of 2013. With more than 210,000 consultants gathering customers in nine states plus the District of Columbia, Ambit Energy CEO and co-founder Jere Thompson noted that even though the company has expanded and grown so much, there is still a lot of work to be done and market share to gain.
“We’ve had the land rush to expand into other markets,” Thompson says. “Now the hard part is farming — actually penetrating the market and building market share.”
This isn’t the first (or second, or third or fourth… or fifth) third-party recognition Ambit Energy has received. The company currently has an A+ rating from the Better Business Bureau, and in 2010 was named America’s No. 1 fastest-growing private company by Inc. magazine.
With energy deregulation still very new in many parts of the country and with less than 5 percent total market share in current states and markets, there is no cap in sight for Ambit Energy’s potential growth.