Slide 1: Q4 2024 Supplemental Information
Q4 2024 Supplemental Information February 27, 2025 ameresco.com © 2025 Ameresco, Inc. All rights reserved.
Slide 2: Safe Harbor
Safe Harbor Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline, visibility, backlog, pending agreements, financial guidance including estimated future revenues, net i
Slide 3: Sources of Revenue – Q4 2024
Sources of Revenue – Q4 2024 $418.3M $84.1M $30.2M Projects Recurring Other Energy efficiency and Energy & incentive revenue Services, software and renewable energy projects from owned energy assets; plus integrated PV recurring O&M from projects 3
Slide 4: 59% of Adjusted EBITDA Came From Recurring Lines of Business
59% of Adjusted EBITDA Came From Recurring Lines of Business Fiscal Year 2024 * Adjusted EBITDA percentages allocate corporate expenses according to revenue share Other 18% O&M 6% 59% Other Projects Recurring 6% Recurring 21% 20% Assets 12% $1.8B O&M 7% $225.3M Revenue Adjusted EBITDA* Projects 76%
Slide 5: Energy Asset Portfolio – 12/31/2024
Energy Asset Portfolio – 12/31/2024 Ameresco’s Ownership Biogas: Non-RNG, 10% Biogas, 15% Biogas: RNG, 11% Solar, 25% Operating Energy Assets Energy Solar, 55% in Development Assets, & Construction, 731 MWe 637 MWe Battery, 39% Battery, 23% EaaS*, 22% Other, 1% 731 MWe of Energy Assets in Operation:
Slide 6: Energy Asset Balance Sheet – 12/31/2024
Energy Asset Balance Sheet – 12/31/2024 Operating Energy $1.49B Total Asset Debt Debt $1.39B $1.04B 70% advance rate $1.63B Corporate Debt Development & $0.43B $0.35B 81% advance rate $0.24B 3.2x* leverage Construction Energy Asset Book Value Energy Asset Debt $1.39B of the $1.63B** of total debt on
Slide 7: Adjusted Cash from Operations Trend
Adjusted Cash from Operations Trend 8-Quarter Rolling Average Adjusted Cash from Operations $50.0 millions $40.0 $30.0 $20.0 $10.0 $0.0 ($10.0) ($20.0) 7
Slide 8: Tremendous Forward Visibility: Backlog & Recurring Revenue Business
Tremendous Forward Visibility: Backlog & Recurring Revenue Business Awarded Project ~ 12-24 months to contract $2.3 billion1 Backlog Contracted Project $2.5 billion1 ~ 12-36 months of revenue Backlog Operating Energy 15.2 year weighted average Additional estimated revenue $3.3 billion Assets PPA rem
Slide 9: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model Expected to Expand Earnings at a Faster Rate than Revenue FY 2025 guidance, as released February 27, 2025 2025 Guidance Adjusted EBITDA ($M) 2025 Guidance Revenue ($M) • High-End 13.6% 5 - Year CAGR • High-End 15.7% 5 - Year CAGR • Low-End 12.4% 5 - Year CAGR
Slide 10: Destination: Net Zero
Destination: Net Zero Since 2010, Ameresco’s renewable energy assets & customer projects delivered a Carbon Emission Reduction equivalent to: 125+ Million Metric Tons of CO 2 Ameresco’s 2024 Carbon Emission Reduction of approximately 17M Metric Tons of CO2 is equal to one of… Carbon dioxide emission
Slide 11: Thank You
Thank You to Our Customers, Employees, and Shareholders ameresco.com © 2025 Ameresco, Inc. All rights reserved.
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures We use the Non-GAAP financial measures defined and discussed below to provide investors and others with useful supplemental information to our financial results prepared in accordance with GAAP. These Non-GAAP financial measures should not be considered as an alternative
Slide 13: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders $ 37,085 $ 33,735 $ 56,757 $ 62,470 Impact from redeemable non-controll
Slide 14: GAAP to Non-GAAP Reconciliation (continued)
GAAP to Non-GAAP Reconciliation (continued) Twelve Months Ended December 31, 2024 Operating $000 USD Projects Assets O&M Other Consolidated Adjusted EBITDA: Net income attributable to common shareholders $ 1,779 $ 13,981 $ 12,252 $ 28,745 $ 56,757 Impact from redeemable non-controlling interests $ -
Slide 15: GAAP to Non-GAAP Reconciliation (continued)
GAAP to Non-GAAP Reconciliation (continued) ($ in Thousands) 2015 2016 2017 2018 2019 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cash Flow from Operations (22,083) (14,877) 4,341 (16,919) (15,069) (24,653) (7,654) (10,696) (31,786) (19,633) (39,337) (45,803) (37,071) (20,066) 25,097