Ameresco said Q4 FY2025 revenue rose 9.0% to USD 581.0 million, with net income attributable to common shareholders of USD 18.4 million and GAAP EPS of USD 0.34; non-GAAP EPS was USD 0.39 and adjusted EBITDA was USD 70.0 million. For FY2025, Ameresco reported revenue of USD 1.9 billion, net income attributable to common shareholders of USD 44.3 million, GAAP EPS of USD 0.83, non-GAAP EPS of USD 0.90, and adjusted EBITDA of USD 237.2 million. Ameresco ended 2025 with total project backlog of USD 5.0 billion and total revenue visibility of USD 10.4 billion, and placed 87 MWe of energy assets into operation during Q4, including its 9th RNG facility, a military solar-plus-storage installation, and the Nucor BESS system. Gross margin in Q4 was 16.2%. The company finished 2025 with USD 71.8 million in unrestricted cash, USD 339.3 million of total corporate debt, and USD 1.5 billion of energy asset debt (73% advance rate). For FY2026, Ameresco guided to revenue of USD 2.0 billion to USD 2.2 billion and adjusted EBITDA of USD 270 million to USD 295 million, and expects to place about 100–120 MWe of energy assets in service, including 2 RNG plants.

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