Ameresco, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Ameresco, Inc. has filed its 2023 10-K annual report detailing its financial performance and corporate structure.</b>

AI Summary

Ameresco, Inc. (AMRC) filed a Annual Report (10-K) with the SEC on February 29, 2024. Ameresco, Inc. reported its 2023 fiscal year-end results on December 31, 2023. The company's principal executive offices are located at 111 Speen Street, Framingham, MA. The filing is a 10-K report under the Securities Exchange Act of 1934. Ameresco, Inc. is incorporated in Delaware. The filing includes data related to common stock, additional paid-in capital, retained earnings, and treasury stock.

Why It Matters

For investors and stakeholders tracking Ameresco, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Ameresco's financial health and operational activities for the fiscal year ended December 31, 2023, crucial for investors assessing the company's performance and future prospects. The detailed financial data within the report, including equity and debt information, allows stakeholders to understand the company's capital structure and its ability to fund operations and growth.

Risk Assessment

Risk Level: low — Ameresco, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant new risks or disclosures beyond routine corporate reporting.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Ameresco's performance and strategic positioning.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period end date)
• 2024-02-29 — Filing Date (Date the 10-K was filed)
• 10-K — Form Type (Type of SEC filing)

Key Players & Entities

• Ameresco, Inc. (company) — Filer of the 10-K report
• 111 Speen Street, Framingham, MA (location) — Business and mailing address
• Securities Exchange Act of 1934 (regulation) — Governing act for the 10-K filing
• Delaware (location) — State of incorporation

FAQ

Industry Context

Ameresco, Inc. operates in the construction special trade contractors industry, focusing on energy efficiency and renewable energy solutions.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze the financial statements for revenue trends and profitability.
2. Review the company's capital structure, including debt and equity.
3. Examine any disclosed risk factors for potential business impacts.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-29: Filing Date — Date Ameresco, Inc. submitted its 10-K to the SEC.

Year-Over-Year Comparison

This filing represents the company's annual report for the fiscal year 2023, providing updated financial and operational data compared to previous periods.

Key Financial Figures

• $0.0001 — stered Class A Common Stock, par value $0.0001 per share AMRC New York Stock Exchange
• $5.5 billion — e have sourced and raised approximately $5.5 billion in project financing while delivering $
• $14.4 billion — n in project financing while delivering $14.4 billion in energy solutions since our inception

Filing Documents

• amrc-20231231.htm (10-K) — 3136KB
• ameresco-formofrsuagreem.htm (EX-10.11) — 16KB
• amrc_20231231x10-kxex211.htm (EX-21.1) — 587KB
• amrc_20231231x10-kxex231.htm (EX-23.1) — 2KB
• amrc_20231231x10-kxex311.htm (EX-31.1) — 14KB
• amrc_20231231x10-kxex312.htm (EX-31.2) — 14KB
• amrc_20231231x10-kxex321.htm (EX-32.1) — 7KB
• ameresco-formofrsuagreem001.jpg (GRAPHIC) — 106KB
• ameresco-formofrsuagreem002.jpg (GRAPHIC) — 236KB
• ameresco-formofrsuagreem003.jpg (GRAPHIC) — 234KB
• ameresco-formofrsuagreem004.jpg (GRAPHIC) — 158KB
• ameresco-formofrsuagreem005.jpg (GRAPHIC) — 253KB
• ameresco-formofrsuagreem006.jpg (GRAPHIC) — 162KB
• amrc-20231231_g1.gif (GRAPHIC) — 15KB
• 0001488139-24-000014.txt (&nbsp;) — 21613KB
• amrc-20231231.xsd (EX-101.SCH) — 140KB
• amrc-20231231_cal.xml (EX-101.CAL) — 188KB
• amrc-20231231_def.xml (EX-101.DEF) — 718KB
• amrc-20231231_lab.xml (EX-101.LAB) — 1569KB
• amrc-20231231_pre.xml (EX-101.PRE) — 1096KB
• amrc-20231231_htm.xml (XML) — 3592KB

BUSINESS

BUSINESS 1 ITEM 1A.

RISK FACTORS

RISK FACTORS 10 ITEM 1B. UNRESOLVED STAFF COMMENTS 25 ITEM 1C. CYBERSECURITY 25 ITEM 2.

PROPERTIES

PROPERTIES 26 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 26 ITEM 4. MINE SAFETY DISCLOSURES 26 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 26 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 29 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 40 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 42 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 104 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 104 ITEM 9B. OTHER INFORMATION 105 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 106 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 106 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 106 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 106 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 106 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 107 EXHIBIT INDEX 108 ITEM 16 FORM 10-K SUMMARY 109

SIGNATURES

SIGNATURES 110 Table of Contents NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Form 10-K" or "Report") contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended ("the Exchange Act"). All statements, other than statements of historical fact, including statements regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans, objectives of management, expected market growth and other characterizations of future events or circumstances are forward-looking statements. These statements are often, but not exclusively, identified by the use of words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate," "target," "project," "predict" or "continue," and similar expressions or variations. These forward-looking statements include, among other things, statements about: our expectations as to the future growth of our business and associated expenses, our expectations as to revenue generation, the future availability of borrowings under our revolving credit facility and other financing arrangements, the expected future growth of the market for energy efficiency and renewable energy solutions, our backlog, awarded projects and recurring revenue and the timing of such matters, our expectations as to acquisition activity, the impact of any restructuring, the uses of future earnings, the expected energy and cost savings of our projects, the expected energy production capacity of our renewable energy plants, the impact of the ongoing macroeconomic challenges and global unrest, including supply chain disruptions, and shortage of materials, the status of and our expectations related to the subordinated debt raise, our expectations related to our agreement with SCE including the impact of any delays, the impact of the U.S. Department of Commerce's solar panel import investigation, and

Business

Item 1. Business Company Overview Ameresco is a leading clean technology integrator and renewable energy asset developer, owner, and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions. Our core offerings include the development, design, arrangement of financing, construction, and installation of solutions that deliver measurable cost and energy savings while enhancing the operations, energy security, infrastructure, and resiliency of a facility. These solutions range from upgrades to a facility's energy infrastructure to the development, construction, and operation of renewable energy plants. As a trusted sustainability partner, we are always on a mission to help customers lower their overall carbon footprint and reduce their environmental impact. Our product independence coupled with our deep technical bench allows us to integrate best-in-class advanced technology solutions for the unique needs of each customer. Drawing from decades of experience, we develop these tailored energy projects for federal, state, and local governments, educational and healthcare institutions, airports, public housing authorities, commercial/industrial customers, transportation and infrastructure, and utilities across the United States, Canada, and Europe. We have sourced and raised approximately $5.5 billion in project financing while delivering $14.4 billion in energy solutions since our inception. Our growth is driven by staying ahead of the curve and at the leading edge of innovation taking place in the energy sector, offering new products and services to new and existing customers. In addition to organic growth, strategic acquisitions of complementary businesses and assets, and entering into joint venture arrangements has been, and continues to be an important component to our growth strategy. These strategies enable us to broaden our service offerings and expand our geographical reac

View Full Filing

View this 10-K filing on SEC EDGAR