Quarterly report [Sections 13 or 15(d)]

BUSINESS SEGMENT INFORMATION

v3.25.1
BUSINESS SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
Our reportable segments are North America Regions, U.S. Federal, Europe, Renewable Fuels, and All Other.
Our North America Regions, U.S. Federal, and Europe segments offer energy efficiency products and services which include the design, engineering, and installation of equipment and other measures to improve the efficiency and control the operation of a facility’s energy infrastructure, renewable energy solutions, and services which include the construction of small-scale plants that Ameresco owns or develops for customers that produce electricity, gas, heat, or cooling from renewable sources of energy and O&M services.
Our Renewable Fuels segment sells electricity, processed renewable gas fuel, heat or cooling, produced from renewable sources of energy, other than solar, and generated by small-scale plants that we own and O&M services for customer owned small-scale plants. Our North America Regions segment also includes certain small-scale solar grid-tie plants developed for customers.
The “All Other” category offers consulting services and the sale of solar PV energy products and systems which we refer to as integrated-PV.
These segments do not include results of other activities, such as corporate operating expenses not specifically allocated to the segments. Certain reportable segments are an aggregation of operating segments.
Our Chief Executive Officer and President is our chief operating decision maker (“CODM”). The CODM is responsible for making operating decisions, allocating resources, and assessing performance of the business segments. The CODM uses the segments’ income before income taxes as the profitability measure in making these decisions.
The tables below present our business segment information recast for the prior-year period and a reconciliation to the condensed consolidated financial statements:
North America Regions U.S. Federal Renewable Fuels Europe All Other Corporate Total
2025
Revenues $ 178,260  $ 25,247  $ 38,175  $ 96,657  $ 14,490  $ 352,829 
Cost of revenues 155,204  17,801  29,861  87,845  10,199  300,910 
Gross profit 23,056  7,446  8,314  8,812  4,291  51,919 
Add:
Earnings from unconsolidated entities 21  —  —  240  —  —  261 
Less:
Selling, general and administrative expenses 12,709  2,735  684  4,976  3,459  13,925  38,488 
Loss on derivatives 409  554  372  —  —  —  1,335 
Interest expense, net of interest income 3,621  843  8,074  (35) —  5,951  18,454 
Other (income) expenses (1,795) 178  119  677  1  (859) (1,679)
Income (loss) before income taxes 8,133  3,136  (935) 3,434  831  (19,017) (4,418)
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
10,356  4,871  7,700  524  30  459  23,940 
Amortization of debt discount & debt issuance costs (1)
581  178  119  —  —  573  1,451 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
North America Regions U.S. Federal Renewable Fuels Europe All Other Corporate Total
2024
Revenues $ 138,285  $ 60,890  $ 32,859  $ 44,122  $ 22,250  $ 298,406 
Cost of revenues 119,821  50,874  25,708  40,360  14,650  251,413 
Gross profit 18,464  10,016  7,151  3,762  7,600  46,993 
Add:
Earnings from unconsolidated entities 4  551  —  —  —  —  555 
Less:
Selling, general and administrative expenses 11,760  3,226  486  3,197  5,157  15,729  39,555 
Gain on derivatives (1,256) (795) (308) —  —  —  (2,359)
Interest expense, net of interest income 1,697  775  5,682  917  —  5,164  14,235 
Other expenses 674  4  115  240  12  1,250  2,295 
Income (loss) before income taxes 5,593  7,357  1,176  (592) 2,431  (22,143) (6,178)
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
8,073  2,016  7,196  496  596  461  18,838 
Amortization of debt discount & debt issuance costs (1)
403  5  115  —  —  459  982 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
See Note 3 for additional information about our revenues by product line.