AMRC Stock Cash Flow Statements

Ameresco Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Ameresco Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30

cash flows from operating activities:
net income	15,518,000	-5,606,000	37,910,000	17,014,000	5,194,000	-6,178,000	33,092,000	20,842,000	8,413,000	1,557,000	18,643,000	27,735,000	32,873,000	19,298,000	29,594,000	20,280,000	17,886,000	12,431,000	23,761,000	17,689,000	8,836,000	6,636,000	20,592,000	8,331,000	8,507,000	2,871,000	10,670,000	10,701,000	8,702,000	7,504,000	20,501,000	8,791,000	5,960,000	-1,744,000	3,383,000	5,810,000	2,100,000	704,000	-4,532,000	4,178,000	1,991,000	-4,188,000	8,654,000	7,291,000	2,719,000	-8,281,000	4,545,117	-1,780,751	-1,924,072	6,771,182	5,168,868	1,505,298	12,358,580	8,832,128	5,288,285	12,040,917	7,707,638
adjustments to reconcile net income to net cash flows from operating activities:
depreciation of energy assets	23,997,000	22,842,000	24,762,000	21,667,000	18,561,000	17,124,000	16,543,000	15,122,000	14,384,000	13,341,000	12,844,000	12,933,000	12,172,000	11,806,000	11,664,000	11,313,000	10,450,000	9,686,000	9,543,000	9,547,000	9,650,000	9,299,000	9,205,000	8,843,000	9,088,000	8,407,000	7,606,000	6,753,000	6,634,000	6,312,000	5,826,000	5,602,000
depreciation of property and equipment	607,000	573,000	1,264,000	1,247,000	1,277,000	1,175,000	1,306,000	1,242,000	963,000	644,000	608,000	653,000	670,000	734,000	746,000	760,000	804,000	833,000	825,000	833,000	826,000	833,000	872,000	764,000	732,000	619,000	594,000	501,000	530,000	542,000	463,000	595,000	643,000	693,000	720,000	748,000	780,000	772,000	914,000	794,000	807,000	748,000	549,000	818,000	983,000	694,000	855,727	813,708	796,546	721,330	603,501	677,973	845,947	609,933	471,789	589,029	257,855
increase in contingent consideration	0	71,000	62,000					550,000	34,000	121,000
accretion of aro liabilities	108,000	108,000	89,000	89,000	88,000	66,000	64,000	64,000	64,000	66,000		36,000	36,000	36,000		33,000	33,000	24,000
amortization of debt discount and debt issuance costs	1,398,000	1,451,000	1,387,000	1,442,000	1,340,000	982,000	794,000	1,043,000	1,574,000	790,000	1,342,000	833,000	1,184,000	852,000	764,000	608,000	730,000	747,000
amortization of intangible assets	595,000	525,000	519,000	539,000	537,000	539,000	685,000	690,000	689,000	302,000	396,000	442,000	442,000	578,000	80,000	80,000	81,000	80,000	157,000	172,000	177,000	179,000	228,000	224,000	244,000	213,000	286,000	269,000	249,000	253,000	369,000	366,000	336,000	380,000	565,000	582,000	607,000	604,000	1,109,000	1,017,000	1,015,000	1,009,000	1,472,000	1,388,000	1,060,000	818,000	1,467,873	898,038	891,037	1,113,033	1,314,778	1,656,244	501,000
benefit from credit losses	0	9,000		81,000
(gain) loss on disposal of assets
non-cash project revenue related to in-kind leases	-2,235,000	-2,274,000	-1,193,000	-624,000	-1,572,000	-775,000
earnings from unconsolidated entities	-150,000	-261,000	-68,000	-159,000	-10,000	-555,000		-526,000	-380,000	-450,000
net gain from derivatives	-4,302,000	1,335,000	-760,000	3,701,000										1,622,000				-377,000	-1,676,000	454,000	740,000	-223,000	4,000	-184,000	-165,000	-723,000	246,000
stock-based compensation expense	3,751,000	2,844,000	3,762,000	3,664,000	3,678,000	3,026,000	-2,000,000	4,319,000	3,962,000	4,037,000	4,209,000	3,631,000	3,675,000	3,531,000	4,436,000	2,165,000	1,349,000	766,000	553,000	521,000	430,000	429,000	425,000	413,000	397,000	385,000	121,000	390,000	392,000	355,000	317,000	326,000	307,000	343,000	376,000	328,000	391,000	367,000	402,000	396,000	453,000	518,000	385,000	683,000	707,000	718,000	789,416	664,759	671,101	853,866	892,607	781,453	432,624	735,526	859,050	651,352	668,065
deferred income taxes	-4,104,000	1,188,000	-20,401,000	-4,601,000	0	687,000	-14,513,000	-9,912,000	3,965,000	-7,142,000	-1,009,000	1,321,000	2,322,000	1,284,000	-2,926,000	-2,169,000	-1,075,000	1,410,000	-1,745,000	527,000	5,836,000	-1,217,000	-3,498,000	0			1,603,000	-5,260,000	12,094,000	-2,920,000	-2,388,000	-272,000	-1,008,000	-859,000	3,211,000	1,021,000	-205,000	-1,160,000	4,873,000	-914,000	-653,000	-1,353,000	-6,092,000	-1,020,000	530,000	3,833,000	-682,904	-1,821,364	-1,049,325	-951,974	43,697	-550,328	4,097,831	453,460	2,692,134	792,193	-2,394,601
unrealized foreign exchange (gain) loss	-2,015,000	-1,209,000								-29,000									-263,000							-59,000		-414,000								514,000	15,000	-806,000
changes in operating assets and liabilities:
accounts receivable	-22,936,000	35,657,000	-32,822,000	-69,988,000	44,000	5,899,000	-5,488,000	-1,893,000	1,074,000	58,954,000	50,734,000	-2,923,000	-3,475,000	-40,859,000	-43,674,000	12,491,000	-305,000	15,535,000	-3,000,000	-33,303,000	26,286,000	-14,161,000	-4,031,000	18,276,000	-27,462,000	4,718,000	7,699,000	25,823,000	-21,913,000	-1,837,000	-20,729,000	4,038,000	-11,917,000	30,478,000	-4,866,000	1,565,000	-13,797,000	5,096,000	786,000	-7,684,000	-2,676,000	5,102,000	19,893,000	-22,167,000	2,038,000	8,847,000	-2,106,271	11,042,004	-4,186,325	-5,633,607	-11,967,540	24,537,183	-45,257,456	-4,961,611	-7,620,850	-21,103,490	-13,865,733
accounts receivable retainage	-1,581,000	-2,866,000	-4,589,000	-4,228,000	-7,105,000	1,580,000	-252,000	4,235,000	-2,085,000	2,439,000	4,491,000	683,000	-3,040,000	2,582,000	-3,668,000	-3,003,000	-4,367,000	-1,844,000	-5,691,000	-5,200,000	2,223,000	-4,445,000	-291,000	-1,295,000	-583,000	-1,201,000	766,000	304,000	5,157,000	-2,453,000	971,000	1,087,000	554,000	-1,333,000	4,278,000	81,000	1,226,000	-1,710,000	-2,324,000	-3,322,000	-733,000	2,554,000	-3,103,000	-102,000	929,000	5,565,000	-37,866	-2,774,172	1,201,598	3,150,711	-3,613,426	5,692,808	-915,906	-1,104,244	1,439,552	-5,204,217	1,007,235
federal espc receivable	-18,728,000	-17,933,000	-48,096,000	-25,053,000	-59,393,000	-26,395,000	-116,731,000	-55,575,000	-54,336,000	-33,736,000	-79,250,000	-66,771,000	-67,178,000	-46,300,000	-61,744,000	-62,838,000	-59,173,000	-65,973,000	-66,847,000	-70,470,000	-49,815,000	-39,946,000	-77,686,000	-48,525,000	-34,863,000	-26,986,000	-43,557,000	-42,706,000	-31,309,000	-37,967,000	-38,445,000	-46,312,000	-38,363,000	-34,418,000	-33,322,000	-33,264,000	-27,288,000	-22,879,000	-22,688,000	-20,930,000	-16,492,000	-13,133,000	-26,069,000	-14,847,000	-15,494,000	-3,047,000	-10,533,232	-4,110,910	-9,673,735	-2,569,522	-11,705,599	-14,070,137	-21,910,697	-37,132,797
inventory	-40,000	-792,000	417,000	511,000	592,000	561,000	11,000	479,000	-517,000	608,000	-1,124,000	-2,207,000	-1,166,000	-914,000	-478,000	470,000	-272,000	48,000	505,000	-80,000	228,000	7,000	666,000	-683,000	-289,000	-1,165,000	363,000	135,000	419,000	-544,000	463,000	877,000	1,472,000	1,154,000	1,283,000	1,018,000	-858,000	-325,000	-980,000	-2,090,000	-1,191,000	-66,000	136,000	172,000	-26,000	1,026,000	2,800,877	-54,410	-1,992,174	2,052,646	-369,359	-140,865	439,704	-349,778	-1,633,214	23,790	-551,643
unbilled revenue	-23,443,000	41,922,000
prepaid expenses and other current assets	459,000	-17,700,000	7,464,000	-9,586,000	24,594,000	104,000	-30,200,000	-12,237,000	383,000	929,000	-4,046,000	2,493,000	-4,442,000	2,813,000	-2,001,000	1,326,000	3,171,000	-726,000	-3,399,000	2,059,000	624,000	1,233,000	-7,313,000	-5,885,000	-2,260,000	-2,939,000	1,522,000	1,751,000	8,068,000	-4,578,000	-200,000	-3,177,000	3,592,000	-2,686,000	3,194,000	-2,730,000	2,384,000	-2,946,000	670,000	-983,000	-4,430,000	1,374,000	4,260,000	3,804,000	-3,759,000	1,221,000	931,682	-2,402,095	875,763	2,564,642	-4,504,563	2,825,403	-1,149,248	-642,293	-21,209	-1,817,278	-185,082
income taxes receivable	-271,000	-1,043,000		777,000	-159,000	180,000		579,000	-6,369,000	6,380,000		1,604,000	-101,000	1,868,000
project development costs	-3,367,000	858,000	1,201,000	-737,000	-1,991,000	-1,728,000	-848,000	-1,813,000	-1,013,000	-1,812,000	138,000	509,000	-2,592,000	1,260,000	1,934,000	-745,000	-499,000	1,259,000	-528,000	201,000	466,000	-3,224,000	13,761,000	-3,938,000	1,985,000	-3,688,000	-1,675,000	-1,653,000	-3,006,000	-2,325,000	1,021,000	38,000	-2,911,000	-1,155,000	3,324,000	2,198,000	733,000	-2,093,000	418,000	-1,369,000	-2,192,000	-1,438,000	1,294,000	852,000	-186,000	-1,478,000	-412,795	-785,712	-1,644,638	-1,078,080	-324,126	-831,959	-1,383,993	-160,631	921,076	-872,942	-50,222
other assets	-2,843,000	-1,629,000	-623,000	-1,546,000	-1,705,000	-1,413,000	-4,816,000	-213,000	36,000	-1,903,000	-1,073,000	-234,000	-10,125,000	105,000	1,843,000	96,000	-3,153,000	-538,000	-514,000	534,000	508,000	8,000	1,754,000	307,000	-1,554,000	549,000	-2,128,000	9,000	-1,099,000	-281,000	-115,000	-185,000	428,000	-188,000	-388,000	-596,000	404,000	55,000	-1,276,000	-1,404,000	871,000	-2,274,000	1,769,000	-1,822,000	233,000	-2,087,000	-1,839,224	-912,456	153,721	312,248	-766,682	-174,600	-1,554,165	-823,972	619,317	4,560,707	821,536
accounts payable, accrued expenses and other current liabilities	3,845,000	-87,992,000		-59,266,000	48,928,000	23,849,000		42,111,000	1,711,000	-82,266,000		16,243,000	203,946,000	-77,163,000	101,150,000	5,264,000	-3,608,000	-19,333,000	31,989,000	42,314,000	-28,015,000	-17,241,000	52,462,000	17,629,000	14,416,000	-40,976,000	19,490,000	7,813,000	8,944,000	-33,309,000	14,880,000	20,492,000	16,219,000	-31,939,000	-1,573,000	7,029,000	17,006,000	-25,260,000	3,877,000	35,768,000	8,051,000	-21,423,000	13,250,000	3,144,000	15,203,000	-22,101,000	10,831,805	1,912,268	-38,098,250	-2,942,065	11,766,758	-20,527,498	38,898,718
deferred revenue	6,633,000	574,000
other liabilities	2,204,000	2,414,000	708,000	2,133,000	2,340,000	2,323,000	2,359,000	-40,000	718,000	522,000	-4,638,000	-454,000	51,000	-33,000	-4,881,000	52,000	19,000	-226,000	-128,000	1,656,000	902,000	-586,000	-23,000	-1,465,000	91,000	-228,000	-977,000	-384,000	443,000	135,000	-285,000	-195,000	-125,000	65,000	-1,573,000	-97,000	-631,000	-1,277,000	-1,871,000	-354,000	-268,000	49,000	-1,599,000	-6,897,000	1,122,000	-40,000	1,882,477	1,293,096	-1,368,603	2,826,363	-345,461	870,642	-4,679,466	434,854	4,342,540	337,826	697,904
cash flows from operating activities	-26,873,000	-28,304,000	18,376,000	25,091,000	53,314,000	20,817,000	-29,570,000	-6,572,000	-92,621,000	58,772,000	-65,119,000	34,674,000	-31,721,000	-276,122,000	-55,952,000	-19,861,000	-57,759,000	-38,724,000	-18,794,000	-10,195,000	-21,954,000	-51,640,000	-75,568,000	-11,471,000	-51,160,000	-58,094,000	-21,160,000	25,096,000	-20,067,000	-37,070,000	-45,803,000	-39,386,000	-19,585,000	-31,785,000	-10,697,000	-7,654,000	-24,653,000	-15,069,000	-15,595,000	3,652,000	-14,669,000	-22,926,000	12,347,000	-18,027,000	3,582,000	2,352,000
cash flows from investing activities:
purchases of property and equipment	-147,000	-422,000	-1,238,000	-987,000	-1,104,000	-962,000	-1,116,000	-1,935,000	-1,005,000	-1,657,000	-1,315,000	-1,456,000	-1,636,000	-889,000	-2,763,000	-649,000	-828,000	-656,000	-243,000	-613,000	-631,000	-724,000	-486,000	-3,378,000	-1,523,000	-1,287,000	-982,000	-905,000	-1,041,000	-1,015,000	-929,000	-691,000	-844,000	-387,000	-111,000	-484,000	-1,715,000	-497,000	-303,000	-397,000	-358,000	-285,000	-192,000	-358,000	-929,000	-266,000	-790,427	-446,197	-1,094,380	-1,715,410	-1,105,037	-1,276,533	-863,145	-911,404	-895,230	-877,781	-59,719
capital investments in energy assets	-100,260,000	-107,866,000		-114,411,000
capital investments in major maintenance of energy assets	-4,128,000	-5,952,000		-3,070,000
proceeds from sale of investment tax credits
net proceeds from equity method investments				135,000
contributions to equity method investments	-23,916,000	-158,000		-4,250,000	-1,416,000	-4,776,000
acquisitions, net of cash received	0	-3,972,000					1,000	1,000	-2,000	-9,182,000													-15,000	0	0	-1,279,000	59,097,000	-28,643,000	-12,701,000	-21,343,000	0	0	0	-2,409,000									0	-9,053,000						-3,677,393			-60,953,588			-6,138,941
cash flows from investing activities	-57,663,000	-118,370,000	-31,245,000	-122,180,000	-129,442,000	-103,770,000	-101,750,000	-185,951,000	-177,989,000	-101,253,000	-125,694,000	-70,377,000	-74,554,000	-57,733,000	-55,157,000	-44,349,000	-49,272,000	-56,479,000	-53,413,000	-48,902,000	-49,352,000	-29,348,000	-62,293,000	-29,184,000	-24,654,000	-26,092,000	-23,499,000	-47,410,000	-27,121,000	-35,176,000	-17,752,000	-18,034,000	-23,116,000	-29,140,000	-31,715,000	-24,876,000	-13,930,000	-9,095,000	-21,709,000	-16,689,000	-7,275,000	-6,156,000	-10,341,000	-14,971,000	-4,691,000	-8,597,000
see notes to condensed consolidated financial statements.
ameresco, inc.
condensed consolidated statements of cash flows
cash flows from financing activities:
payments on long-term corporate debt financings	-1,250,000	-14,250,000
proceeds from long-term corporate debt financings	0	100,000,000
payments on senior secured revolving credit facility				1,500,000
proceeds from long-term energy asset debt financings	177,571,000	112,588,000
payments on long-term energy asset debt and financing leases	-95,037,000	-59,186,000
proceeds from termination of interest rate swaps
payment on seller's promissory note			-20,000,000	-12,500,000	0	-29,441,000
payments of debt discount and debt issuance costs	-3,539,000	-3,224,000	-5,194,000	-4,106,000	-5,418,000	-590,000	-680,000	-3,561,000	-4,708,000	-366,000	-810,000	-129,000	-186,000	-2,570,000
proceeds from federal espc projects	5,684,000	29,731,000	35,380,000	9,271,000	100,547,000	19,581,000	47,035,000	30,604,000	34,390,000	42,309,000	64,495,000	52,134,000	56,943,000	64,788,000	45,031,000	44,026,000	36,639,000	33,520,000	54,331,000	60,988,000	72,400,000	61,198,000	83,802,000	32,769,000	43,189,000	39,598,000	44,667,000	43,906,000	33,083,000	36,581,000	42,673,000	48,304,000	38,869,000	35,167,000	24,964,000	26,316,000	22,374,000	16,385,000	16,125,000	20,976,000	22,855,000	18,015,000	18,279,000	18,910,000	10,454,000	3,522,000
net (payments) proceeds from energy asset receivable financing arrangements
proceeds from exercises of options and espp	868,000	430,000	864,000	405,000	1,311,000	183,000	1,071,000	274,000	2,539,000	571,000	1,533,000	1,616,000	1,106,000	1,708,000	2,044,000	1,620,000	1,877,000	1,386,000	3,344,000	1,453,000	2,605,000	2,473,000	2,152,000	4,005,000	611,000	649,000	2,870,000	2,013,000
contributions from non-controlling interests	936,000	2,863,000		2,997,000	1,928,000	28,864,000		0	-15,809,000	16,308,000
distributions to non-controlling interest	-1,847,000	-1,004,000	-1,000	-363,000	-941,000	-63,000	-1,321,000	0
distributions to redeemable non-controlling interests			-4,000	-155,000	-130,000	-133,000		-156,000	-177,000	-161,000				-357,000				-495,000				-103,000				-103,000				-103,000
cash flows from financing activities	107,388,000	114,547,000	8,886,000	66,623,000	161,061,000	77,374,000	108,402,000	267,324,000	158,949,000	106,128,000	176,033,000	88,520,000	110,274,000	355,400,000	104,194,000	64,343,000	84,541,000	112,383,000	99,670,000	63,093,000	58,477,000	83,929,000	144,542,000	37,214,000	88,130,000	47,533,000	45,719,000	54,755,000	39,914,000	84,123,000	57,912,000	59,751,000	45,593,000	64,832,000	44,463,000	35,627,000	37,717,000	19,494,000	42,218,000	13,340,000	24,490,000	20,657,000	-2,543,000	38,908,000	-2,611,000	9,022,000
effect of exchange rate changes on cash	2,392,000	522,000	-2,030,000	1,757,000	196,000	-126,000	899,000	-919,000	-103,000	42,000	1,110,000	-566,000	-1,095,000	-196,000	191,000	-197,000	-15,000	330,000	467,000	-8,000	52,000	-509,000	198,000	149,000	-40,000	140,000	-171,000	107,000	-46,000	-185,000	346,000	97,000	-214,000	-61,000	199,000	-17,000	-959,000	127,000	-4,525,000	1,634,000	-889,000	2,325,000	813,000	1,168,000	-612,000	792,000	-68,775	-900,330	1,343,251	-303,643	-53,234	100,293	-1,347,221	12,140	313,165	498,142	-544,614
net increase in cash, cash equivalents, and restricted cash			-6,013,000	-28,709,000	85,129,000	-5,705,000	-22,019,000	73,882,000	-111,764,000	63,689,000	-13,670,000	52,251,000	2,904,000	21,349,000				17,510,000				2,432,000		-3,292,000	12,276,000	-36,513,000		32,548,000	-7,320,000	11,692,000
cash, cash equivalents, and restricted cash, beginning of period	0	198,378,000		0	0	153,676,000		0	0	149,888,000		0	0	87,054,000		0	0	98,837,000		0	0	77,264,000		-1,000	0	97,914,000		0	0	60,105,000
cash, cash equivalents, and restricted cash, end of period	25,244,000	166,773,000		-28,709,000	85,129,000	147,971,000		73,882,000	-111,764,000	213,577,000		52,251,000	2,904,000	108,403,000		-64,000	-22,505,000	116,347,000		3,988,000	-12,777,000	79,696,000		-3,293,000	12,276,000	61,401,000		32,548,000	-7,320,000	71,797,000
supplemental disclosures of cash flow information:
cash paid for interest	27,670,000	22,191,000	30,215,000	27,644,000	25,617,000	26,911,000	29,071,000	19,402,000	18,643,000	13,135,000	9,296,000	9,986,000	9,184,000	4,488,000	5,808,000	3,877,000	4,862,000	4,235,000	5,379,000	4,265,000	5,582,000	4,917,000	5,057,000	4,216,000	4,803,000	3,391,000	5,945,000	4,435,000	3,781,000	1,402,000	3,523,000	2,441,000	3,327,000	2,384,000	2,264,000	1,715,000	1,956,000	1,285,000	1,340,000	1,341,000	1,393,000	1,463,000	1,584,000	1,533,000	1,736,000	1,730,000
cash paid for income taxes	2,611,000	1,166,000	2,510,000	1,122,000	765,000	59,000	1,115,000	219,000	2,177,000	323,000	3,550,000	899,000	2,751,000	78,000	730,000	727,000	942,000	271,000	408,000	675,000	199,000	183,000	914,000	1,176,000	1,610,000	197,000	239,000	115,000	1,461,000	442,000	1,350,000	2,061,000	2,160,000	211,000	535,000	936,000	1,062,000	942,000	233,000	271,000	827,000	106,000	475,000	892,000	924,000	834,000
non-cash federal espc settlement	23,335,000	17,538,000	0	0	94,010,000	49,926,000	0	7,785,000			293,032,000				0	63,259,000			-2,315,000	13,086,000	14,071,000	29,297,000	28,075,000	0	208,815,000	5,629,000	19,021,000	15,738,000	38,431,000	28,367,000	91,000	57,520,000	4,844,000	4,466,000	0	34,841,000	0	44,234,000	286,000	0	18,199,000	8,121,000	12,237,000	0
accrued purchases of energy assets	-6,159,000	67,643,000	14,008,000	-35,897,000	1,146,000	88,447,000	-11,438,000	9,301,000	-17,023,000	97,542,000	36,049,000	15,061,000	-3,000,000	40,683,000	9,018,000	-24,000	-4,995,000	33,065,000	5,060,000	3,042,000	1,397,000	34,308,000	17,647,000	-1,470,000	2,447,000	16,247,000	7,307,000	-2,888,000	6,104,000	4,482,000	-2,079,000	808,000
non-cash financing for energy asset project acquisition			0	0	0	32,500,000	0
gain on disposal of assets		-1,370,000
(payments on) proceeds from senior secured revolving credit facility		-57,000,000					72,000,000	-35,000,000
net proceeds from energy asset receivable financing arrangements		3,599,000	796,000	-64,000	532,000	4,748,000	1,998,000	4,400,000	3,676,000	4,438,000
net decrease in cash, cash equivalents, and restricted cash		-31,605,000														-64,000				3,988,000
non-cash recognition of investment tax credits on energy assets		71,783,000
impairment of goodwill
provision (recoveries of) for bad debts
impairment of long-lived assets / loss on disposal
gain on sale of business, net of transaction costs
unrealized foreign exchange gain						806,000									18,000															492,000		-782,000	-527,000	-185,000
accounts payable, accrued expenses, and other current liabilities
income taxes receivable (payable)
capital investment in energy assets						-105,633,000	-92,878,000	-183,993,000	-171,760,000	-89,787,000				-56,844,000	-30,912,000	-43,700,000
capital investment in major maintenance of energy assets						-5,355,000	388,000	-2,214,000	-5,221,000	-589,000	-1,901,000	-11,268,000
grant award received on energy asset			-3,000
net proceeds from sale of business
net proceeds from sale of equity investment
contributions to equity and other investments
loans to joint venture investments							1,000	-527,000	-1,000	-38,000	-1,000
purchases of subsurface land easements
contributions from non-controlling interest											19,558,000	229,000	8,325,000	4,594,000
investment fund call option exercise															0
payment of contingent consideration
cash, cash equivalents, and restricted cash, beginning of year
cash, cash equivalents, and restricted cash, end of year
non-cash contributions from non-controlling interest							6,000	36,000	313,000	109,000	12,510,000
non-cash portion of investment fund call option exercise
loss on disposal of assets
costs and estimated earnings in excess of billings				154,473,000	-19,937,000	-7,842,000	-18,471,000	-10,404,000	-70,084,000	85,748,000	52,428,000	33,546,000	-204,278,000	-154,325,000	-91,026,000	-13,273,000	-15,437,000	6,544,000	-5,350,000	18,414,000	-5,771,000	12,181,000	-83,566,000	-4,282,000	-17,821,000	-1,027,000	-20,689,000	-1,120,000	-539,000	30,363,000	-22,327,000	-28,504,000	-3,092,000	7,193,000	3,051,000	5,473,000	-11,170,000	33,816,000	-12,112,000	-8,005,000	-5,667,000	2,880,000	-13,181,000	2,611,000	-6,072,000	21,229,000	-11,352,008	-8,688,672	18,619,861	-5,950,854	-5,583,166	17,780,552	2,294,809	-4,751,958	-6,143,202	-8,859,603	-5,096,250
billings in excess of cost and estimated earnings				-4,754,000	37,809,000	9,160,000	16,098,000	-3,358,000	4,064,000	9,398,000	-7,353,000	3,729,000	8,382,000	-4,309,000	5,163,000	2,318,000	-4,201,000	-3,973,000	-977,000	450,000	9,525,000	-956,000	3,614,000	-288,000	-1,473,000	809,000	-8,300,000	12,587,000	-2,611,000	1,190,000	2,115,000	-4,495,000	3,265,000	-3,053,000	2,536,000	-3,469,000	-2,999,000	-3,042,000	3,345,000	1,740,000	1,067,000	4,522,000	-592,000	2,802,000	1,738,000	-3,137,000	-7,075,163	-590,444	961,897	-7,286,785	7,346,139	897,751	4,517,219	4,218,481	-4,546,509	-1,341,379	4,358,402
asset acquisition, net of cash acquired
proceeds from long-term debt financings				304,267,000	270,010,000	89,321,000	114,898,000	384,677,000	285,735,000	58,188,000	137,390,000	23,175,000	21,167,000	286,744,000	67,834,000	53,306,000	34,043,000	30,811,000	75,463,000	26,372,000			36,269,000	4,872,000			9,201,000	20,280,000	25,133,000	33,501,000	-402,000
payments on debt and financing leases				-234,629,000
loss on disposal of assets and impairment loss
unrealized foreign exchange loss								1,110,000						132,000				19,000			-11,000	212,000		139,000
benefit from bad debts						1,000		58,000	486,000	93,000		119,000	7,000	237,000				3,000				49,000		-258,000	47,000	77,000	127,000	180,000	239,000	64,000	9,000	53,000			255,000	2,205,000	1,778,000	1,154,000	3,863,000	156,000	50,000	33,000	735,000	987,000	22,000	244,000	137,227	328,969	42,339	6,024	24,107	53,636	154	34	24,186
loss on write-off of long-lived assets								0	0	18,000
net (gain) income from derivatives						-2,359,000					13,000
net proceeds from equity method investment						12,956,000
proceeds from senior secured revolving credit facility						20,100,000
payments on long-term debt and financing leases						-55,196,000	-140,308,000	-101,414,000	-46,176,000	-15,159,000	-50,516,000	-10,306,000	-23,603,000	-77,432,000
net increase in fair value of contingent consideration											800,000
impairment of long-lived assets / loss on write-off
in-kind lease expenses
gain on sale of equity investments
(earnings) income from unconsolidated entities
grant award proceeds for energy assets
proceeds from sale of equity investment
proceeds from equity offering, net of offering costs															0	3,000	-135,000	120,216,000
(distributions to) proceeds from redeemable non-controlling interests											-344,000	-223,000
contributions to equity investments
net income from derivatives										163,000						667,000
accretion of aro
(recoveries of) benefit from bad debts
(earnings) loss of unconsolidated entities
income taxes payable															-910,000	2,164,000	-1,746,000	4,881,000	1,204,000	1,900,000	-6,008,000	-1,388,000	-2,916,000	-146,000	-954,000	3,666,000	3,139,000	8,602,000	-12,257,000	1,617,000	-8,035,000	2,260,000	298,000	-201,000	-360,000	-84,000	1,879,000	553,000	-2,503,000	3,786,000	1,633,000	-1,745,000	4,809,000	3,116,000	-2,293,000	-4,971,000	-52,156	700,716	-1,065,754	1,155,924	2,476,787	606,671	1,352,618	757,554	-5,446,587	-2,541,814	1,329,064
contributions to equity investment																			-2,000	-3,000	0	-127,000	22,000	-132,000	1,000	-192,000
repurchase of common stock																			0	0	0	-6,000	-5,000				-67,000	0	-1,000	-1,771,000	-383,000	-760,000	-220,000	-2,049,000	-1,936,000	-2,502,000
proceeds from (payments on) senior secured revolving credit facility											-1,100,000	19,000,000	44,000,000	76,000,000
net proceeds for customer energy asset projects
loss on disposal / impairment of long-lived assets																			550,000
equity in earnings of unconsolidated entity												-488,000
capital investment in new energy assets												-57,195,000
proceeds for (payments on) energy assets from federal espc												3,024,000	2,726,000	1,925,000
adjustments to reconcile net income to cash flows from operating activities:
gain on contingent consideration													0	-320,000
equity in (earnings) loss of unconsolidated entity														-637,000
accretion of aro and contingent consideration																			29,000	21,000	22,000	21,000	39,000	36,000	11,000	51,000
benefit from (recoveries of) bad debts															158,000	23,000
gain on sale of equity investments / deconsolidation of a vie
(payments on) proceeds from senior secured credit facility															30,000,000	-10,000,000	25,000,000	-53,073,000
proceeds for energy assets from federal espc																		-59,000	-57,000	-53,000	-53,000	1,541,000	638,000	-203,000	110,000	1,732,000	1,967,000
proceeds from investments by redeemable non-controlling interests																			1,951,000	2,780,000
conversion of revolver to term loan																							0	0			0	0
payments of financing fees																-1,488,000	-312,000	-850,000		-1,757,000	-2,043,000	-155,000	-1,125,000	-94,000			-406,000	-1,382,000	-1,710,000	-575,000	-853,000	-410,000	-1,276,000	-338,000	-642,000	-517,000	-352,000	-397,000	-854,000	-692,000	-345,000	-857,000	-6,000	-14,000	-67,000	-287,000		-464,767	-40,218	-164,753		-20,325	-78,924	-493,700	-50,589	-402,625	-711,355
(payments on) proceeds for energy assets from federal espc																-57,000
proceeds from redeemable non-controlling interests																-115,000
payments on long-term debt financings
payments on long-term debt																	-14,591,000	-19,073,000		-16,690,000	-13,841,000	-12,019,000	-10,392,000	-4,846,000	-7,471,000	-5,716,000	-13,570,000	-12,049,000	-8,454,000	-2,322,000	-13,936,000	-4,241,000	-27,977,000	-8,010,000	-4,768,000	-3,117,000	-3,545,000	-2,584,000	-3,341,000	-2,985,000	-3,541,000	-2,525,000	-4,511,000	-2,958,000	-8,203,000	-2,720,000	-1,643,787	-2,934,948	-3,805,781	-1,245,455	-1,327,493	-807,464	-1,444,018	-1,642,731	-911,878	-5,755,902	-3,450,145
purchases of energy assets																		-55,823,000			-48,721,000	-28,497,000		-25,674,000	-23,132,000	-23,334,000	-81,614,000	-17,862,000	-13,379,000	-12,818,000	-16,823,000	-17,343,000
gain on deconsolidation of a vie
proceeds from (payments to) senior secured credit facility
proceeds from sale-leaseback financings																											0				20,593,000
net increase in cash and cash equivalents, and restricted cash
amortization of debt discount and deferred financing fees																				673,000	516,000	660,000
recoveries of bad debts
gain on deconsolidation of vie																								0	0	-2,160,000
purchases of energy assets, net of grant proceeds
proceeds from senior secured credit facility																				-10,000,000	-15,000,000	31,000,000			29,992,000	11,373,000			-11,304,000	17,404,000	-300,000	-353,000														8,000,000	3,000,000						41,571,429	35,000,000	5,000,000		6,418,897
provision (recoveries) for bad debts
the accompanying notes are an integral part of these condensed consolidated financial statements.
condensed consolidated statements of cash flows —
consolidated statements of cash flows —
amortization of deferred financing fees																											606,000	749,000	419,000	419,000	426,000	408,000	389,000	397,000	509,000	359,000	345,000	290,000	289,000	288,000	280,000	282,000	267,000	516,000	271,000	299,000	518,251	248,314	84,148	95,667	138,191	133,287	106,776	94,822	110,833	306,398	97,655
benefit from (recovery of) bad debts
gain on disposal / sale of assets																											-2,000
proceeds from sale of assets of a business																															0	0	0	2,777,000
proceeds (payments) from senior secured credit facility																							32,004,000				0
contributions from redeemable non-controlling interests																											1,057,000	2,263,000
amortization of debt issuance costs																								516,000	525,000	693,000
loss on disposal / sale of assets
contributions from redeemable non-controlling interests, net of distributions																								872,000
excess tax benefits from stock-based compensation arrangements																																											1,578,000				-120,601	-158,231	-138,780	-723,710	-448,916	-1,202,597	-1,819,749	-3,510,339	-391,297
net increase in cash and cash equivalents																															-5,297,000	2,428,000	2,678,000	3,846,000					389,000			-6,100,000	276,000			3,569,000	1,160,270		-42,384,385		-9,525,375	12,157,996	-28,047,444	30,432,557		8,131,605	-3,227,083
gain on sale of assets																															1,000	0	0	-104,000
unrealized gain on ineffectiveness of swaps
proceeds from federal espc energy assets
unrealized gain on ineffectiveness of interest rate swaps																														-102,000	-65,000	-28,000	-55,000	-123,000
proceeds from exercises of options																														691,000	418,000	482,000	837,000	240,000	85,000	499,000	144,000	326,000	542,000	6,000	175,000	430,000	12,000	548,000	567,000	320,000	426,294	394,603	855,149	1,216,985	735,839	1,063,432
proceeds from sale of federal espc energy assets																														717,000
restricted cash																															-664,000	-369,000	-176,000	391,000	-831,000	-1,231,000	-1,906,000	-1,455,000	5,324,000	-1,522,000	-417,000	-277,000	482,000	-806,000	1,132,000	-508,000	-2,349,555	-4,558,805	-639,472	-1,454,199	-3,367,515	-1,430,592	-1,136,862	-1,087,999	-587,567	-1,137,175	-509,477
proceeds from sales of assets																																															3,504,000	6,500
non-controlling interest																																							0	0			-2,000	-10,000	-1,000	4,000	-10,042	105,931	-65,301
proceeds from investment by redeemable non-controlling interests																															6,115,000	-63,000
cash and cash equivalents, beginning of year																																																	63,347,645			26,277,366			44,691,021
cash and cash equivalents, end of year
cash and cash equivalents, beginning of period																																0	0	20,607,000		0	0	21,645,000		0	0	23,762,000		0	0	17,171,000	17,629,963	20,963,260		28,909,987	38,435,362		59,782,193	29,349,636		21,134,396	24,361,479
cash and cash equivalents, end of period																																2,428,000	2,678,000	24,453,000		3,080,000	-1,825,000	17,102,000		1,937,000	1,657,000	17,662,000		7,078,000	-4,332,000	20,740,000	18,790,233	17,629,963	20,963,260	26,176,800	28,909,987	38,435,362	31,734,749	59,782,193	29,349,636	29,266,001	21,134,396
proceeds from long-term debt financing																																	28,687,000	12,878,000	30,201,000	4,790,000	-36,000	3,049,000	13,163,000									9,434,434							5,500,089
proceeds from sale-leaseback financing																																	12,671,000	8,783,000	0	6,037,000	7,467,000	3,541,000	4,925,000	0	0	7,581,000
depreciation of project assets																																		5,109,000	5,238,000	4,960,000	4,636,000	4,543,000	4,796,000	4,199,000	3,933,000	3,983,000	3,885,000	3,732,000	3,793,000	3,637,000	2,902,714	2,868,716	4,010,435	2,903,901	2,850,977	2,605,030	2,676,004	2,240,001	2,210,612	4,206,992	1,661,726
purchases of project assets																																		-29,121,000	-28,029,000	-24,392,000	-12,215,000	-8,598,000	-21,408,000	-16,292,000	-7,769,000	-5,871,000	-10,149,000	-5,560,000	-2,639,000	-8,331,000	-4,136,438	-18,763,159	-12,855,786	-11,604,966	-9,695,695	-10,002,946	-16,837,529	-8,129,688	-6,591,203		-6,492,890
proceeds (repayments) from senior secured credit facility																																		18,000,000
(distributions to) proceeds from investment by redeemable non-controlling interest																																		-62,000
accrued purchases of project assets																																		11,987,000	3,637,000	6,103,000	4,625,000	5,141,000	-8,176,000	4,414,000	6,627,000	2,200,000	-4,090,000
unrealized gain on interest rate swaps																																			-52,000	-74,000	-83,000	-70,000	-91,000	-93,000	-101,000	-83,000		214,000	-1,068,000	-129,000
grant awards and rebates received on project assets																																																	1,290,934	395,007		3,838,766
proceeds from investment by redeemable non-controlling interest																																			-64,000	-63,000	-63,000	6,582,000
proceeds from sale of assets																																								0
net decrease in cash and cash equivalents																																				3,080,000	-1,825,000	-4,543,000										-3,333,297		-2,733,187					-15,341,385
repayments of senior secured credit facility																																						-11,300,000
gain on contingent liability
grant awards received on project assets																																												0				289,285							6,695,711
(repayments) proceeds from senior secured credit facility
(payments of) proceeds from senior secured credit facility																																										-2,000,000
unrealized (gain) loss on interest rate swaps
book overdraft																																																				-7,297,122
noncash espc receivable financing																																															43,816,695
adjustments to reconcile net income to net cash from operating activities:
gains on sales of assets
increase in:
net cash from operating activities																																															3,707,774	6,883,441	-25,703,476	3,079,501	6,267,415	33,208,761	10,317,108	1,589,603	-25,621,271	9,061,554	2,478,324
capex																																															-790,427	-446,197	-1,094,380	-1,715,410	-1,105,037	-1,276,533	-863,145	-911,404	-895,230	-877,781	-59,719
free cash flows																																															2,917,347	6,437,244	-26,797,856	1,364,091	5,162,378	31,932,228	9,453,963	678,199	-26,516,501	8,183,773	2,418,605
additional purchase price paid on 2010 acquisition
net cash from investing activities																																															-2,022,240	-26,451,087	-14,467,317	-16,602,762	-10,800,732	-7,440,713	-78,654,262	-9,041,092	-790,722	-19,432,413	-6,552,609
net cash from financing activities																																															-456,489	17,134,679	-3,556,843	11,093,717	-4,938,824	-13,710,345	41,636,931	37,871,906	10,757,443	18,004,322	1,391,816
cash paid during the year for:
interest																																															2,058,223	1,566,521	1,256,072	2,073,848	1,300,558	725,845	1,246,530	1,345,688	471,352	710,265	1,701,086
income taxes																																															2,449,775	679,279	221,401	753,889	481,209	25,712	1,764,698	1,781,156	3,254,600	3,652,142	1,133,907
adjustments to reconcile net income to cash from operating activities:
unrealized (gain) loss on interest rate swap																																															-124,980	-294,047
gain on sale of asset																																															-631,917				-800,000
restricted cash draws																																															11,013,725	10,486,117	7,518,821	5,688,561	14,069,843	10,082,814	20,465,804	37,303,666	40,912,909	53,185,373	55,536,045
acquisition, net of cash received																																															-599,375	-7,537,516	-1,808,085
cash paid during the period for:
acquisition, net of cash received:
property and equipment																																																75,054	62,898	43,115			604,637			127,512
goodwill																																																5,089,049	921,128	2,291,163			21,262,668			2,539,561
intangible assets																																																3,087,509	610,000	1,712,021			13,722,000
accounts payable and accrued expenses																																															-60,675	-654,563		-605,869			-7,175,650	-653,233	-23,204,150	25,940,748	8,907,545
proceeds from (payments of) senior secured credit facility																																																15,000,000
deferred tax liabilities																																																-710,127
unrealized gain on interest rate swap																																																	-389,087
payments of senior secured credit facility
accounts receivable and accounts receivable retainage																																																	445,769
accounts payable																																																	-313,976
write-down of long-term receivable																																																									2,111,000
unrealized loss on interest rate swaps
proceeds from exercises of options, warrants and issuance of stock
repurchase of stock																																																									-768,970
repayment of subordinated debt																																																								-2,998,750
acquisitions, net of cash received:
project assets																																																					6,970,185
net proceeds from senior secured credit facility																																																		12,017,429
proceeds from (payments on) senior secured credit facility																																																			-1,428,571	-6,428,571
minority interest																																																				7,700
proceeds from exercises of options and warrants, and issuance of stock																																																					905,557
proceeds from exercises of options and warrants																																																						2,585,997
supplemental disclosure of cash flow information:
federal espc receivable financing																																																							-36,506,536	-51,833,048	-60,539,815
proceeds from exercises of stock options																																																							1,416,091
impairment of projects assets
gain relating to certain business acquisitions
proceeds from exercise of stock options, warrants and issuance of stock
repurchase of warrants
proceeds from (repayments of) revolving senior secured credit facility
repayment of senior secured term and revolving credit facility
payments of long-term debt
supplemental disclosure of noncash investing and financing transactions:
accrued expenses
long-term debt
purchases of project assets, net of grants received																																																								-12,415,691
proceeds from options, warrants and issuance of stock																																																								59,649,893
payments on senior secured credit facility																																																								-31,351,119
proceeds from options and warrant exercises																																																									412,866
supplmental disclosure of cash flow information:

We provide you with 20 years of cash flow statements for Ameresco stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as operating cash flows, cash levels, capital expenditures, profits, stock-based compensations and profit margins. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Ameresco stock. Explore the full financial landscape of Ameresco stock with our expertly curated income statements.

The information provided in this report about Ameresco stock is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.