v3.25.2
BUSINESS SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 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:
Three Months Ended June 30, 2025
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$211,185 $59,644 $42,819 $141,884 $16,752 $472,284 
Cost of revenues175,894 49,338 35,296 127,871 10,527 398,926 
Gross profit35,291 10,306 7,523 14,013 6,225 73,358 
Add:
Earnings from unconsolidated entities34 — — 116 — — 150 
Less:
Selling, general and administrative expenses14,501 3,704 1,439 5,245 3,519 17,326 45,734 
(Gain) loss on derivatives(4,246)179 (235)— — — (4,302)
Interest expense, net of interest income3,683 803 8,079 927 — 6,397 19,889 
Other expense (income)275 177 142 974 — (1,999)(431)
Income (loss) before income taxes$21,112 $5,443 $(1,902)$6,983 $2,706 $(21,724)$12,618 
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
10,685 4,894 8,574 585 32 429 25,199 
Amortization of debt discount & debt issuance costs (1)
585 177 142 — — 494 1,398 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
Three Months Ended June 30, 2024
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$208,131 $86,737 $45,852 $73,059 $24,203 $437,982 
Cost of revenues183,695 72,925 34,675 65,430 16,088 372,813 
Gross profit24,436 13,812 11,177 7,629 8,115 65,169 
Add:
Earnings from unconsolidated entities9 1 — — — — 10 
Less:
Selling, general and administrative expenses13,829 2,983 468 4,730 5,189 17,027 44,226 
(Gain) loss on derivatives(1,381)(231)3 — — — (1,609)
Interest expense, net of interest income2,514 1,416 5,749 859 — 4,271 14,809 
Other expense640 261 111 207 6 1,334 2,559 
Income (loss) before income taxes$8,843 $9,384 $4,846 $1,833 $2,920 $(22,632)$5,194 
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
8,796 2,859 7,019 514 716 471 20,375 
Amortization of debt discount & debt issuance costs (1)
501 259 112 — — 468 1,340 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
Six Months Ended June 30, 2025
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$389,445 $84,891 $80,994 $238,541 $31,242 $825,113 
Cost of revenues331,098 67,139 65,157 215,716 20,726 699,836 
Gross profit58,347 17,752 15,837 22,825 10,516 125,277 
Add:
Earnings from unconsolidated entities55 — — 356 — — 411 
Less:
Selling, general and administrative expenses27,210 6,439 2,123 10,221 6,978 31,251 84,222 
(Gain) loss on derivatives(3,837)733 137 — — — (2,967)
Interest expense, net of interest income7,304 1,646 16,153 892 — 12,348 38,343 
Other (income) expense(1,520)355 261 1,651 1 (2,858)(2,110)
Income (loss) before income taxes$29,245 $8,579 $(2,837)$10,417 $3,537 $(40,741)$8,200 
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
21,041 9,765 16,274 1,109 62 888 49,139 
Amortization of debt discount & debt issuance costs (1)
1,166 355 261 — — 1,067 2,849 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
Six Months Ended June 30, 2024
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$346,416 $147,627 $78,711 $117,181 $46,453 $736,388 
Cost of revenues303,516 123,799 60,383 105,790 30,738 624,226 
Gross profit42,900 23,828 18,328 11,391 15,715 112,162 
Add:
Earnings from unconsolidated entities13 552 — — — — 565 
Less:
Selling, general and administrative expenses25,589 6,209 954 7,927 10,346 32,756 83,781 
Gain on derivatives(2,637)(1,026)(305)— — — (3,968)
Interest expense, net of interest income4,211 2,191 11,431 1,776 — 9,435 29,044 
Other expense1,314 265 226 447 18 2,584 4,854 
Income (loss) before income taxes$14,436 $16,741 $6,022 $1,241 $5,351 $(44,775)$(984)
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
16,870 4,875 14,215 1,010 1,312 931 39,213 
Amortization of debt discount & debt issuance costs (1)
904 264 227 — — 927 2,322 
(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.