Ameresco, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

9 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended September 30, 2026:


	North America Regions		U.S. Federal		Renewable Fuels		Europe		All Other		Total
Project revenue	$	181,718	$	123,942	$	4,946	$	135,419	$	—	$	446,025
O&M revenue	14,783		19,106		1,759		1,327		14		36,989
Energy assets	25,563		9,676		38,998		1,144		—		75,381

Other	3,242		561		—		1,896		16,221		21,920
Total revenues	$	225,306	$	153,285	$	45,703	$	139,786	$	16,235	$	580,315

The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended September 30, 2025:


	North America Regions		U.S. Federal		Renewable Fuels		Europe		All Other		Total
Project revenue	$	198,448	$	65,828	$	5,078	$	140,598	$	—	$	409,952
O&M revenue	12,397		15,583		1,959		831		—		30,770
Energy assets	23,647		7,763		30,633		494		—		62,537

Other	3,108		334		4		2,311		16,971		22,728
Total revenues	$	237,600	$	89,508	$	37,674	$	144,234	$	16,971	$	525,987

The following table presents our revenue disaggregated by line of business and reportable segment for the nine months ended September 30, 2026


	North America Regions		U.S. Federal		Renewable Fuels		Europe		All Other		Total
Project revenue	$	470,160	$	219,543	$	20,635	$	407,079	$	—	$	1,117,417
O&M revenue	39,926		53,834		5,620		3,991		34		103,405
Energy assets	70,411		25,066		112,924		3,589		—		211,990

Other	7,943		2,733		18		8,115		45,618		64,427
Total revenues	$	588,440	$	301,176	$	139,197	$	422,774	$	45,652	$	1,497,239

The following table presents our revenue disaggregated by line of business and reportable segment for the nine months ended September 30, 2025:


	North America Regions		U.S. Federal		Renewable Fuels		Europe		All Other		Total
Project revenue	$	521,688	$	109,325	$	17,124	$	371,364	$	—	$	1,019,501
O&M revenue	31,327		44,376		5,736		2,132		—		83,571
Energy assets	65,286		19,900		95,801		1,152		—		182,139

Other	8,744		798		7		8,127		48,213		$	65,889
Total revenues	$	627,045	$	174,399	$	118,668	$	382,775	$	48,213	$	1,351,100

The following table presents information related to our revenue recognized over time:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Percentage of revenue recognized over time	97%	96%	97%	96%

The remainder of our revenue is for products and services transferred at a point in time, at which point revenue is recognized.

We attribute revenues to customers based on the location of the customer. The following table presents information related to our revenues by geographic area:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
United States	$	404,727	$	352,725	$	965,125	$	887,261
Canada	35,791		29,023		109,146		80,991
Europe	139,797		144,239		422,968		382,848
Total revenues	$	580,315	$	525,987	$	1,497,239	$	1,351,100

Summary of Contract with Customer, Asset and Liability

The following tables provide information about receivables, contract assets and contract liabilities from contracts with customers:


	September 30, 2026		December 31, 2025
Accounts receivable, net	$	276,560	$	257,856
Accounts receivable retainage, net	26,152		53,618
Accounts receivable retainage, non-current (1)	18,651		6,595
Contract Assets:
Unbilled revenue	$	1,000,293	$	799,109
Contract Liabilities:
Deferred revenue	$	72,770	$	79,908
Deferred revenue, non-current (1)	37,348		35,035
Total contract liabilities	$	110,118	$	114,943

(1) Performance obligations that are expected to be completed beyond the next twelve months and are included in other assets or other liabilities in the condensed consolidated balance sheets.