Filing Flows › Ameresco (AMRC) › Q1 2026 › vs Q1 2025
Ameresco (AMRC) Q1 2026 vs Q1 2025 (year over year)
Ameresco's revenue rose $48.6M (+14%) from $353M in Q1 2025 to $401M in Q1 2026. The biggest changes: Europe +$30.6M (+32%); U.S. Federal +$30.0M (+119%); North America Regions −$12.2M (-7%).
Ameresco, Q1 2026: revenue $401M (+14% year over year), operating margin 2.6%, net loss $14.4M, operating cash flow $35.4M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 8.7% | -8.1% | +16.8 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| North America Regions | $166M | $178M | −$12.2M | -7% |
| Europe | $127M | $96.7M | $30.6M | +32% |
| U.S. Federal | $55.3M | $25.2M | $30.0M | +119% |
| Renewable Fuels | $39.3M | $38.2M | $1.1M | +3% |
| All Other | $13.6M | $14.5M | −$893K | -6% |
| Revenue | $401M | $353M | $48.6M | +14% |
| Income tax benefit | $3.2M | −$1.2M | $4.4M | — |
| Net loss | $14.4M | $5.6M | $8.8M | +157% |
| Costs & expenses | $419M | $358M | $60.6M | +17% |
| Operating costs | $391M | $339M | $52.1M | +15% |
| Interest & other, net | $27.8M | $18.1M | $9.7M | +54% |
| Cost of revenue | $345M | $301M | $44.1M | +15% |
| Operating expenses | $46.2M | $38.2M | $8.0M | +21% |
| Operating cash sources | $49.8M | −$22.7M | $72.5M | — |
| Depreciation & amortization | $29.3M | $23.9M | $5.3M | +22% |
| Share-based compensation | $4.2M | $2.8M | $1.3M | +47% |
| Working capital & other | $16.3M | −$49.5M | $65.8M | — |
| Net loss absorbed | $14.4M | $5.6M | $8.8M | +157% |
| Operating cash flow | $35.4M | −$28.3M | $63.7M | — |
| Free cash flow (OCF − capex) | $34.9M | −$28.7M | $63.6M | — |
| Capital expenditures | $542K | $422K | $120K | +28% |
Questions
How much did Ameresco's revenue grow year over year in Q1 2026?
Ameresco's revenue rose $48.6M (+14%) from $353M in Q1 2025 to $401M in Q1 2026.
What drove Ameresco's revenue change in Q1 2026?
Europe +$30.6M (+32%); U.S.