Ameresco Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2024 · FY), Ameresco Inc reported revenue of $1.8B (+28.8% year on year) and net income of $56.8M (-9.1% year on year).
| Line item | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY | Dec 31, 2021 · FY |
|---|---|---|---|---|
| Revenues | $1.8B | $1.4B | $1.8B | $1.2B |
| Cost of revenues | $1.5B | $1.1B | $1.5B | $985.3M |
| Gross profit | $256.1M | $246.4M | $290.8M | $230.4M |
| Selling, general and administrative expenses | $173.8M | $162.1M | $157.8M | $134.9M |
| Gain on sale of business, net | $38.0M | — | — | — |
| Asset impairments | $12.4M | $3.8M | — | — |
| Earnings from unconsolidated entities | $792.0K | $1.8M | — | — |
| Operating income | $108.7M | $82.2M | $133.0M | $95.4M |
| Interest and other expenses, net | $74.8M | $43.9M | $27.3M | $17.3M |
| Income before income taxes | $33.9M | $38.3M | $105.7M | $78.1M |
| Income tax (benefit) provision | ($20.0M) | ($25.6M) | $7.2M | ($2.0M) |
| Net income | $53.9M | $63.9M | $98.5M | $80.2M |
| Net loss (income) attributable to non-controlling interest and redeemable non-controlling interest | $2.8M | ($1.4M) | ($3.6M) | ($9.7M) |
| Net income attributable to common shareholders | $56.8M | $62.5M | $94.9M | $70.5M |
| Basic (in usd per share) | $1.08 | $1.20 | $1.83 | $1.38 |
| Diluted (in usd per share) | $1.07 | $1.17 | $1.78 | $1.35 |
| Basic (in shares) | 52.4M | 52.1M | 51.8M | 50.9M |
| Diluted (in shares) | 53.1M | 53.2M | 53.3M | 52.3M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenues | $515.5M | $401.5M | $526.0M | $472.3M |
| Cost of revenues | $424.2M | $345.0M | $441.7M | $398.9M |
| Gross profit | $91.3M | $56.5M | $84.3M | $73.4M |
| Earnings from unconsolidated entities | $393.0K | $98.0K | $1.4M | $150.0K |
| Selling, general and administrative expenses | $47.5M | $46.3M | $43.4M | $45.7M |
| Operating income | $44.1M | $10.2M | $42.4M | $27.8M |
| Interest expense and interest income, net | $26.4M | $25.2M | $20.5M | — |
| Other (income) expenses, net | ($2.3M) | $2.6M | $3.7M | $15.2M |
| Income before income taxes | $20.0M | ($17.6M) | $18.2M | $12.6M |
| Income tax expense (benefit) | $137.0K | ($3.2M) | ($3.7M) | ($2.9M) |
| Net income | $19.9M | ($14.4M) | $21.8M | $15.5M |
| Net income attributable to non-controlling interests and redeemable non-controlling interests | ($10.2M) | ($3.9M) | ($3.3M) | ($2.7M) |
| Net income (loss) attributable to common shareholders | $9.7M | ($18.3M) | $18.5M | $12.9M |
| Basic (in usd per share) | $0.18 | -$0.35 | $0.35 | $0.24 |
| Diluted (in usd per share) | $0.18 | -$0.35 | $0.35 | $0.24 |
| Basic (in shares) | 53.0M | 52.9M | 52.7M | 52.6M |
| Diluted (in shares) | 53.8M | 52.9M | 53.4M | 52.8M |
| Line item | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY | Dec 31, 2021 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $108.5M | $79.3M | $115.5M | $50.5M |
| Restricted cash | $69.7M | $62.3M | $20.8M | $24.3M |
| Accounts receivable, net | $257.0M | $153.4M | $174.0M | $162.0M |
| Accounts receivable retainage | $39.8M | $33.8M | $38.1M | $43.1M |
| Unbilled revenue | $644.1M | $636.2M | $576.4M | $306.2M |
| Inventory | $11.6M | $13.6M | $14.2M | $8.8M |
| Prepaid expenses and other current assets | $145.9M | $123.4M | $38.6M | $25.4M |
| Income tax receivable | $1.7M | $5.8M | $7.7M | $5.3M |
| Project development costs, net | $22.9M | $20.7M | $16.0M | $13.2M |
| Total current assets | $1.3B | $1.1B | $1.0B | $638.6M |
| Federal ESPC receivable | $609.1M | $609.3M | $509.5M | $557.7M |
| Property and equipment, net | $11.0M | $17.4M | $15.7M | $13.1M |
| Energy assets, net | $1.9B | $1.7B | $1.2B | $856.5M |
| Goodwill, net | $66.3M | $75.6M | $70.6M | $71.2M |
| Intangible assets, net | $8.8M | $6.8M | $4.7M | $7.0M |
| Right-of-use assets, net | $80.1M | $58.6M | $38.2M | $42.0M |
| Restricted cash, non-current portion | $20.2M | $12.1M | $13.6M | $12.3M |
| Deferred income tax assets, net | $56.5M | $26.4M | $3.0M | $3.7M |
| Other assets | $89.9M | $89.7M | $38.6M | $22.8M |
| Total assets | $4.2B | $3.7B | $2.9B | $2.2B |
| Current portions of long-term debt and financing lease liabilities, net of unamortized discount | $149.4M | $322.2M | $331.5M | $78.9M |
| Accounts payable | $529.3M | $402.8M | $349.1M | $309.0M |
| Accrued expenses and other current liabilities | $107.3M | $108.8M | $89.2M | $43.3M |
| Current portions of operating lease liabilities | $10.5M | $13.6M | $5.8M | $6.3M |
| Deferred revenue | $91.7M | $52.9M | $34.8M | $35.9M |
| Income taxes payable | $744.0K | $1.2M | $1.7M | $822.0K |
| Total current liabilities | $889.0M | $901.5M | $812.1M | $474.2M |
| Long-term debt and financing lease liabilities, net of current portion, unamortized discount, and debt issuance costs | $1.5B | $1.2B | $568.6M | $377.2M |
| Federal ESPC liabilities | $555.4M | $533.1M | $478.5M | $532.3M |
| Deferred income tax liabilities, net | $2.2M | $4.5M | $9.2M | $3.9M |
| Deferred grant income | $6.4M | $7.0M | $7.6M | $8.5M |
| Long-term operating lease liabilities, net of current portion | $59.5M | $42.3M | $31.7M | $35.1M |
| Other liabilities | $114.5M | $82.7M | $49.5M | $43.2M |
| Redeemable non-controlling interests, net | $2.5M | $46.9M | $46.6M | $46.2M |
| Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2024 and 2023 | 0 | 0 | 0 | 0 |
| Common stock | $5.0K | $5.0K | $5.0K | $5.0K |
| Additional paid-in capital | $378.3M | $320.9M | $306.3M | $284.0M |
| Retained earnings | $652.6M | $595.9M | $533.5M | $438.7M |
| Accumulated other comprehensive loss, net | ($5.9M) | ($3.0M) | ($4.1M) | ($6.7M) |
| Treasury stock, at cost, 2,101,835 shares at December 31, 2024 and 2,101,795 at December 31, 2023 | -11.8M | -11.8M | -11.8M | — |
| Stockholders’ equity before non-controlling interest | $1.0B | $902.0M | $824.0M | $704.3M |
| Non-controlling interests | $31.9M | $23.9M | $49.0M | — |
| Total stockholders’ equity | $1.0B | $925.9M | $873.0M | — |
| Total liabilities, redeemable non-controlling interests and stockholders’ equity | $4.2B | $3.7B | $2.9B | $2.2B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $138.3M | $104.0M | $94.6M | $81.6M |
| Restricted cash | $87.1M | $91.3M | $98.5M | $88.8M |
| Accounts receivable, net of allowance of $866 and $869, respectively | $252.6M | $249.2M | $253.8M | $245.9M |
| Accounts receivable retainage, net | $36.5M | $49.4M | $48.8M | $47.8M |
| Unbilled revenue | $889.7M | $782.0M | $691.3M | $592.9M |
| Inventory, net | $12.6M | $12.5M | $12.8M | $12.4M |
| Prepaid expenses and other current assets | $235.9M | $236.4M | $189.7M | $182.9M |
| Income taxes receivable | $3.3M | $3.5M | $3.6M | $2.9M |
| Project development costs, net | $24.2M | $26.2M | $27.4M | $25.3M |
| Total current assets | $1.7B | $1.6B | $1.4B | $1.3B |
| Federal ESPC receivable | $526.9M | $512.7M | $516.3M | $609.1M |
| Property and equipment, net and Energy assets, net | $2.2B | $10.1M | $9.8M | $10.8M |
| Deferred income tax assets, net | $97.6M | $99.3M | $76.3M | $70.8M |
| Goodwill, net | $68.9M | $69.0M | $69.2M | $69.4M |
| Intangible assets, net | $6.3M | $6.9M | $8.1M | $8.7M |
| Right-of-use assets, net | $74.5M | $75.6M | $76.4M | $77.2M |
| Restricted cash, non-current portion | $25.1M | $57.2M | $22.5M | $21.6M |
| Other assets | $105.8M | $100.2M | $109.7M | $106.0M |
| Total assets | $4.8B | $4.6B | $4.4B | $4.3B |
| Current portions of long-term debt and financing lease liabilities, net | $164.3M | $162.2M | $167.1M | $160.6M |
| Accounts payable | $641.5M | $666.7M | $569.6M | $451.6M |
| Accrued expenses and other current liabilities | $108.5M | $118.7M | $105.8M | $105.3M |
| Current portions of operating lease liabilities | $9.4M | $9.6M | $8.1M | $7.6M |
| Deferred revenue | $75.5M | $85.4M | $87.3M | $96.4M |
| Income taxes payable | $5.3M | $1.8M | $1.4M | $557.0K |
| Total current liabilities | $1.0B | $1.0B | $939.3M | $822.1M |
| Long-term debt and financing lease liabilities, net of current portion, unamortized discount and debt issuance costs | $1.8B | $1.8B | $1.7B | $1.7B |
| Federal ESPC liabilities | $528.0M | $505.2M | $499.1M | $550.6M |
| Deferred income tax liabilities, net | $1.0M | $3.5M | $2.8M | $2.2M |
| Deferred grant income | $5.0M | $5.2M | $5.5M | $5.7M |
| Long-term operating lease liabilities, net of current portion | $53.1M | $53.6M | $56.0M | $57.5M |
| Other liabilities | $94.9M | $93.4M | $111.6M | $122.9M |
| Redeemable non-controlling interests, net | $0 | $1.5M | $1.6M | $1.5M |
| Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at June 30, 2026 and December 31, 2025 | 0 | 0 | 0 | 0 |
| Common stock | $5.0K | $5.0K | $5.0K | $5.0K |
| Additional paid-in capital | $565.2M | $400.3M | $390.1M | $386.2M |
| Retained earnings | $688.1M | $678.4M | $678.4M | $659.9M |
| Accumulated other comprehensive loss, net | ($4.8M) | ($2.3M) | ($1.1M) | $240.0K |
| Treasury stock, at cost, 2,101,835 shares at June 30, 2026 and December 31, 2025 | -11.8M | -11.8M | -11.8M | -11.8M |
| Stockholders’ equity before non-controlling interest | $1.2B | $1.1B | $1.1B | $1.0B |
| Non-controlling interests | $114.4M | $45.4M | $38.2M | $36.3M |
| Total stockholders’ equity | $1.4B | $1.1B | $1.1B | $1.1B |
| Total liabilities, redeemable non-controlling interests, and stockholders’ equity | $4.8B | $4.6B | $4.4B | $4.3B |
| Line item | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY | Dec 31, 2021 · FY |
|---|---|---|---|---|
| Net income | $53.9M | $63.9M | $98.5M | $80.2M |
| Depreciation of energy assets, net | $82.1M | $59.4M | $49.8M | $43.1M |
| Depreciation of property and equipment | $5.0M | $4.2M | $2.7M | $3.1M |
| Amortization of debt discount and debt issuance costs | $5.2M | $4.2M | $4.2M | $2.8M |
| Amortization of intangible assets | $2.1M | $2.4M | $1.9M | $321.0K |
| Increase in contingent consideration | $149.0K | $347.0K | $1.6M | — |
| Accretion of ARO liabilities | $332.0K | $258.0K | $146.0K | — |
| Impairment of goodwill | $0 | $2.2M | — | — |
| Provision (recoveries of) for bad debts | $1.3M | $356.0K | ($382.0K) | $187.0K |
| Impairment of long-lived assets / loss on disposal | $12.8M | $1.7M | $937.0K | $1.9M |
| Gain on sale of business, net of transaction costs | ($38.0M) | — | — | — |
| Non-cash project revenue related to in-kind leases | ($4.2M) | — | — | — |
| Earnings from unconsolidated entities | ($792.0K) | ($1.8M) | ($1.6M) | — |
| Net gain from derivatives | ($1.0M) | ($1.1M) | ($212.0K) | $240.0K |
| Stock-based compensation expense | $14.1M | $10.3M | $15.0M | $8.7M |
| Deferred income taxes, net | ($24.3M) | ($27.6M) | $3.9M | ($4.8M) |
| Unrealized foreign exchange loss (gain) | $2.2M | ($368.0K) | ($123.0K) | $142.0K |
| Accounts receivable | ($96.9M) | $52.6M | $3.5M | ($16.0M) |
| Accounts receivable retainage | ($14.3M) | $4.3M | $4.7M | ($12.9M) |
| Federal ESPC receivable | ($158.9M) | ($260.4M) | ($259.5M) | ($249.7M) |
| Inventory, net | $2.1M | $581.0K | ($5.4M) | ($232.0K) |
| Unbilled revenue | $55.0M | ($13.2M) | ($272.6M) | ($113.2M) |
| Prepaid expenses and other current assets | $22.6M | ($41.1M) | ($3.2M) | $1.8M |
| Project development costs | ($3.3M) | ($5.5M) | ($685.0K) | $1.9M |
| Other assets | ($5.3M) | ($6.9M) | ($11.3M) | ($1.8M) |
| Accounts payable, accrued expenses, and other current liabilities | $143.8M | $53.2M | $36.2M | $83.5M |
| Deferred revenue | $50.7M | $26.2M | $449.0K | ($693.0K) |
| Other liabilities | $7.5M | $3.6M | ($5.1M) | ($5.0M) |
| Income taxes receivable (payable), net | $3.7M | $1.3M | — | — |
| Cash flows from operating activities | $117.6M | ($70.0M) | ($338.3M) | ($172.3M) |
| Purchases of property and equipment | ($4.3M) | ($5.7M) | ($5.3M) | ($4.9M) |
| Capital investment in energy assets | ($417.0M) | ($538.4M) | ($304.6M) | ($178.9M) |
| Capital investment in major maintenance of energy assets | ($17.1M) | ($7.6M) | ($18.0M) | — |
| Grant award received on energy asset | $400.0K | $0 | $0 | $774.0K |
| Net proceeds from sale of business | $54.2M | — | — | — |
| Net proceeds from sale of equity investment | $13.1M | $0 | $0 | $1.7M |
| Acquisitions, net of cash received | $0 | ($9.2M) | $0 | ($14.9M) |
| Contributions to equity and other investments | ($11.8M) | ($5.4M) | — | — |
| Loans to joint venture investments | $0 | ($565.0K) | ($459.0K) | — |
| Purchases of subsurface land easements | ($4.3M) | — | — | — |
| Cash flows from investing activities | ($386.6M) | ($566.9M) | ($328.4M) | ($205.3M) |
| Payments on long-term corporate debt financings | ($127.0M) | — | — | — |
| Proceeds from long-term corporate debt financings | $100.0M | — | — | — |
| (Payments on) proceeds from senior secured revolving credit facility, net | ($4.9M) | ($43.0M) | $137.9M | ($8.1M) |
| Proceeds from long-term energy asset debt financings | $643.5M | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $5.5M | ($14.4M) | $31.8M | $9.9M |
| Depreciation of energy assets, net | $57.3M | $28.2M | $72.9M | $46.8M |
| Depreciation of property and equipment | $1.0M | $499.0K | $1.7M | $1.2M |
| Increase in contingent consideration | $0 | $0 | $71.0K | $71.0K |
| Accretion of ARO liabilities | $248.0K | $124.0K | $324.0K | $216.0K |
| Amortization of debt discount and debt issuance costs | $3.7M | $2.0M | $4.4M | $2.8M |
| Amortization of intangible assets | $1.1M | $565.0K | $1.8M | $1.1M |
| Provision for credit losses | $11.0K | $4.0K | $189.0K | $9.0K |
| Gain on disposal of assets | $0 | $0 | — | — |
| Energy asset impairment | $334.0K | $334.0K | — | — |
| Non-cash production tax credits recognized | ($7.0M) | ($3.4M) | — | — |
| Non-cash project revenue related to in-kind leases | $285.0K | ($401.0K) | ($6.4M) | ($4.5M) |
| Earnings from unconsolidated entities | ($491.0K) | ($98.0K) | ($677.0K) | ($411.0K) |
| Unrealized loss (gain) from derivatives | $210.0K | $1.8M | ($2.2M) | ($3.0M) |
| Stock-based compensation expense | $7.6M | $4.2M | $10.3M | $6.6M |
| Deferred income taxes, net | ($2.5M) | ($1.9M) | ($7.8M) | ($2.9M) |
| Unrealized foreign exchange loss (gain) | $1.3M | $628.0K | ($3.1M) | ($3.2M) |
| Accounts receivable | $4.0M | $8.0M | $18.5M | $12.7M |
| Accounts receivable retainage | $12.4M | $5.5M | ($7.2M) | ($4.4M) |
| Federal ESPC receivable | ($24.7M) | ($9.7M) | ($59.7M) | ($36.7M) |
| Inventory, net | $374.0K | $89.0K | ($1.2M) | ($832.0K) |
| Unbilled revenue | ($101.7M) | $13.2M | ($61.8M) | $18.5M |
| Prepaid expenses and other current assets | $12.1M | $8.1M | ($41.7M) | ($17.2M) |
| Income taxes receivable, net | ($6.2M) | ($3.4M) | ($1.2M) | ($1.3M) |
| Project development costs | ($2.0M) | ($1.5M) | ($3.3M) | ($2.5M) |
| Other assets | ($4.1M) | ($3.0M) | ($8.2M) | ($4.5M) |
| Accounts payable, accrued expenses and other current liabilities | ($29.1M) | ($5.8M) | $17.7M | ($84.1M) |
| Deferred revenue | ($1.1M) | $5.7M | $1.9M | $7.2M |
| Other liabilities | ($261.0K) | $73.0K | $6.6M | $4.6M |
| Cash flows from operating activities | ($71.8M) | $35.4M | ($37.5M) | ($55.2M) |
| Purchases of property and equipment | ($1.4M) | ($542.0K) | ($217.0K) | ($569.0K) |
| Capital investments in energy assets | ($213.2M) | ($90.6M) | ($283.4M) | ($208.1M) |
| Capital investments in major maintenance of energy assets | ($15.9M) | ($5.8M) | ($16.6M) | ($10.1M) |
| Proceeds from sale of investment tax credits | $20.4M | — | $70.8M | $70.8M |
| Contributions to equity method investments | ($165.0K) | $0 | ($24.3M) | ($24.1M) |
| Acquisitions, net of cash received | $0 | $0 | ($4.6M) | ($4.0M) |
| Cash flows from investing activities | ($210.3M) | ($96.9M) | ($258.3M) | ($176.0M) |
| Payments on long-term corporate debt financings | ($3.1M) | ($1.3M) | ($16.8M) | ($15.5M) |
| Proceeds from long-term corporate debt financings | $45.0M | $45.0M | $100.0M | $100.0M |
| Proceeds (payments) on senior secured revolving credit facility, net | $3.0M | $0 | ($25.0M) | ($32.0M) |
| Proceeds from long-term energy asset debt financings | $235.1M | $182.9M | $367.3M | $290.2M |
| Payments on long-term energy asset debt and financing leases | ($205.0M) | ($122.0M) | ($192.5M) | ($154.2M) |
| Proceeds from termination of interest rate swaps | $0 | — | $2.8M | $2.8M |
| Payments of debt discount and debt issuance costs | ($2.5M) | ($1.8M) | ($7.4M) | ($6.8M) |
| Proceeds from Federal ESPC projects | $48.1M | $26.6M | $82.0M | $35.4M |
Ameresco Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.