Ameresco, Inc. · NYSE:AMRC
Ameresco — Q2 2026 Earnings Presentation
15 slides from Ameresco's earnings presentation, Aug 3, 2026
Slide 1: Q2 2026 Supplemental Information
Q2 2026 Supplemental Information August 3, 2026 © 2026 Ameresco, Inc. All rights reserved. ameresco.com
Slide 2: Safe Harbor
Safe Harbor Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Exchange Act, and Section 27A of the Securities Act. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the g
Slide 3: Integrated Platform: Three Lines of Business
Integrated Platform: Three Lines of Business A differentiated model combining project growth, recurring services and long-term asset ownership Projects O&M Energy Assets Large-scale customer solutions Recurring revenue Owned infrastructure converts create growth, revenue complements the full lifecyc
Slide 4: Diversified Total Project Backlog of $6.7B
Diversified Total Project Backlog of $6.7B As of 6/30/2026 Total Project Backlog Total Project Backlog by Solution by Customer Segment Domestic Public Sector Solar + BESS Defense Dept. & Related MUSH 16% 7% 24% 23% Buildings K-12 & Public U.S. Federal 3% International Government Infrastructure1 High
Slide 5: Project Backlog Funnel with Recurring Revenue Foundation
Project Backlog Funnel with Recurring Revenue Foundation As of 6/30/2026 Total Project Backlog Funnel $11.4B Revenue Visibility = Pipeline / Awarded Backlog Contracted Backlog $6.7B Sales Cycle $4.4B $2.3B Total Project Backlog • Qualify opportunity • Detailed design • Construction & installation •
Slide 6: Energy Asset Portfolio – Ameresco’s Ownership
Energy Asset Portfolio – Ameresco’s Ownership As of 6/30/2026 Energy Assets in Energy Assets in Operation Development & Construction 822 MWe 513 MWe Other Battery Solar Biogas: Biogas: Firm Generation Battery Solar Biogas 1% 31% 55% RNG Non-RNG 27% 38% 25% 10% 7% 6% 822 MWe of Energy Assets in Opera
Slide 7: Disciplined Use of Debt
Disciplined Use of Debt As of 6/30/2026 Total Debt Energy Asset Debt by Stage Energy Asset Debt • Debt amortizes through Energy Asset energy asset cash generation Debt $1.55B • Conservative underwriting based on a debt service coverage ratio Operating $1.65B Total to contracted cash flows • Underlyi
Slide 8: Durable Growth, Expanding Profit, Strong Revenue Visibility
Durable Growth, Expanding Profit, Strong Revenue Visibility Projects create scale and backlog, O&M strengthens customer continuity, and Energy Assets drive EBITDA Revenue ($M) Adjusted EBITDA ($M) Total Revenue Visibility ($B) 15.2% CAGR 20.7% CAGR (normalized2) 15.5% CAGR 2023-20261 2023-20261 2023
Slide 9: Data Center Pipeline – Q2 Update
Data Center Pipeline – Q2 Update Growing data center power plant pipeline; Intentionally partnering with experienced players on highly qualified opportunities Sites 1, 2 & 3 Sites 4 & 5 Site 6 Multi-billion data center • Multiple customer sites across • Two customer campuses • Customer campus locate
Slide 10: Adjusted Cash from Operations Better Reflects Underlying Cash Generation
Adjusted Cash from Operations Better Reflects Underlying Cash Generation As of 06/30/2026 The Challenge The Adjustment • Federal ESPC financing and ITC monetization are • Adjust for financing and monetization proceeds directly tied to project economics key to our project economics, but are classifie
Slide 11: FY 2026 Guidance
FY 2026 Guidance Published 08/03/26 Guidance Low High Revenue $2.0 billion $2.2 billion Gross Margin 17% 18% Adjusted EBITDA1 $250 million $270 million Depreciation & Amortization $115 million $116 million Interest Expense & Other $95 million $100 million Effective Tax Rate (25)% (40)% Income Attrib
Slide 12: Non-GAAP Financial Measures
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
Slide 13: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income (loss) attributable to common shareholders $ 9,718 $ 12,864 $ (8,565) $ 7,381 (1) Impact from non-controlling interest
Slide 14: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Six Months Ended June 30, 2026 Operating $000 USD Projects Assets O&M Other Consolidated Adjusted EBITDA: Net income (loss) attributable to common shareholders $ 455 $ (19,422) $ 9,881 $ 521 $ (8,565) (1) Impact from non-controlling interests and redeemable non-contro
Slide 15: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in Thousands) 2017 2018 2019 2020 2021 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Cash Flow from Operations (7,654) (10,696) (31,786) (19,633) (39,337) (45,803) (37,071) (20,066) 25,097 (21,160) (58,094) (51,160) (11,471) (75,568) (51,640) (21,955)