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BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 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 September 30, 2025
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$237,600 $89,508 $37,674 $144,234 $16,971 $525,987 
Cost of revenues195,172 73,649 28,252 133,053 11,532 441,658 
Gross profit42,428 15,859 9,422 11,181 5,439 84,329 
Add:
Earnings from unconsolidated entities37 1,127 — 229 — — 1,393 
Less:
Selling, general and administrative expenses12,749 3,057 605 5,539 3,751 17,671 43,372 
Loss on derivatives740 55 18 — — — 813 
Interest expense and interest income, net3,780 840 7,882 866 — 7,117 20,485 
Other expense372 177 82 1,462 1 796 2,890 
Income (loss) before income taxes$24,824 $12,857 $835 $3,543 $1,687 $(25,584)$18,162 
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
10,769 4,981 10,446 628 31 380 27,235 
Amortization of debt discount & debt issuance costs (1)
582 176 82 89 — 643 1,572 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
Three Months Ended September, 2024
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$291,611 $89,113 $43,537 $52,613 $23,999 $500,873 
Cost of revenues251,324 72,872 33,430 50,103 16,005 423,734 
Gross profit40,287 16,241 10,107 2,510 7,994 77,139 
Add:
Earnings from unconsolidated entities25 134 — — — — 159 
Less:
Selling, general and administrative expenses12,087 3,085 788 4,243 5,404 16,532 42,139 
Loss on derivatives1,592 1,342 767 — — — 3,701 
Interest expense and interest income, net3,577 2,017 6,203 1,371 (1)5,249 18,416 
Other expense394 388 113 181 11 (1,735)(648)
Income (loss) before income taxes$22,662 $9,543 $2,236 $(3,285)$2,580 $(20,046)$13,690 
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
9,552 4,751 7,494 503 689 464 23,453 
Amortization of debt discount & debt issuance costs (1)
552 390 113 — — 387 1,442 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
Nine Months Ended September 30, 2025
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$627,045 $174,399 $118,668 $382,775 $48,213 $1,351,100 
Cost of revenues526,270 140,788 93,409 348,769 32,258 1,141,494 
Gross profit100,775 33,611 25,259 34,006 15,955 209,606 
Add:
Earnings from unconsolidated entities92 1,127 — 585 — — 1,804 
Less:
Selling, general and administrative expenses39,959 9,496 2,728 15,760 10,729 48,921 127,593 
(Gain) loss on derivatives(3,097)788 155 — — — (2,154)
Interest expense, net of interest income11,084 2,486 24,035 1,758 — 19,465 58,828 
Other (income) expense(1,148)532 343 3,113 2 (2,062)780 
Income (loss) before income taxes$54,069 $21,436 $(2,002)$13,960 $5,224 $(66,324)$26,363 
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
31,810 14,745 26,719 1,738 94 1,268 76,374 
Amortization of debt discount & debt issuance costs (1)
1,747 532 343 89 — 1,710 4,421 
(1) These amounts disclosed by reportable segment are included within the other segment expense captions.
Nine Months Ended September, 2024
North America RegionsU.S. FederalRenewable FuelsEuropeAll OtherCorporateTotal
Revenues$638,027 $236,740 $122,248 $169,794 $70,452 $1,237,261 
Cost of revenues554,840 196,671 93,813 155,893 46,743 1,047,960 
Gross profit83,187 40,069 28,435 13,901 23,709 189,301 
Add:
Earnings from unconsolidated entities38 686 — — — — 724 
Less:
Selling, general and administrative expenses37,676 9,294 1,742 12,170 15,750 49,288 125,920 
(Gain) loss on derivatives(1,045)316 462 — — — (267)
Interest expense, net of interest income7,788 4,207 17,634 3,146 — 14,685 47,460 
Other expense1,708 654 339 629 28 848 4,206 
Income (loss) before income taxes$37,098 $26,284 $8,258 $(2,044)$7,931 $(64,821)$12,706 
Other Non-cash Segment Disclosures:
Depreciation and intangible asset amortization (1)
26,422 9,626 21,709 1,513 2,001 1,395 62,666 
Amortization of debt discount & debt issuance costs (1)
1,456 654 340 — — 1,314 3,764 
(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.