Ameresco Issues FY23 Guidace

2023 Revenue Guidance

Projects
 

•Approximately 90-95% conversion to revenue of Ameresco's 12-month contracted project backlog as of March 31, 2023;

•Conversion to contracted backlog followed by revenue recognition of approximately 10-15% of Ameresco's total awarded project backlog as of December 31, 2022;

•Conversion to revenue of aged proposals to equal approximately 9-10% of total project revenue in 2023;