Ameresco, Inc.

Good afternoon, ladies and gentlemen, and thank you for standing by. My name is Kelvin, and I will be your conference operator today. At this time, I would like to welcome everyone to MRESCO Inc.' 's Q4 2025 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star one again. Thank you. I would now like to turn the call over to Leila Dhillon, Chief Marketing Officer. Please go ahead.

Thank you, Kelvin, and good afternoon, everyone. We appreciate you joining us for today's call. Our speakers on the call today will be George Sakalaris, MRSCO's Chairman and Chief Executive Officer, and Mark Chiplock, Chief Financial Officer. In addition, Josh Barabow, our Chief Investment Officer, will be available during Q&A to help answer questions. Before I turn the call over to George, I would like to make a brief statement regarding forward-looking remarks. Today's earnings materials contain forward-looking statements. including statements regarding our expectations. All forward-looking statements are subject to risks and uncertainties. Please refer to today's earnings materials, the Safe Harbor language on slide two of our supplemental information, and our SEC filings for a discussion of the major risk factors that could cause our actual results to differ from those in our forward-looking statements. In addition, we use several non-GAAP measures when presenting our financial results. We have included the reconciliations of these measures and additional information in our supplemental slides that were posted to our website. Please note that all comparisons that we will be discussing today are on a year-over-year basis unless otherwise noted. I will now turn the call over to George. George?

Thank you, Lila, and good afternoon, everyone. I am pleased to report that our fourth quarter results represented a great finish to a year of strong performance, with annual results reaching the mid to high end of our revenue and profit guidance. Excellent execution by the MRESCO team, together with the recurring revenue contributions from our energy asset and O&M businesses, were key drivers to our success. And this success was achieved even amid concerns surrounding potential Department of Government efficiency actions early in the year and the six-week federal government shutdown in the fourth quarter. Importantly, our results were broad-based, with growth across all three of our core business lines, including strong growth from our European operations. And while our team continues to be laser-focused On contract execution, converting a record $1.5 billion of project backlog into revenue this year, we also saw excellent new business activity, including meaningful project scope increases in our federal backlog. This helped to drive our total awarded backlog to over $2.5 billion, up 13% from last year. Also, Europe. was a strong contributor this year and represents a real success story. We first entered Europe over 10 years ago with a small acquisition of a UK-based energy consulting firm. But more recently, we have focused on expanding our business in continental Europe. In doing business in Europe, requires a localized presence. Our European growth strategy has been driven by opportunistic acquisitions, such as Italy-based Anarchos, and partnerships in various target countries. We focus on smaller opportunities and then use the power of MRS Group, our technology and process know-how, and financial resources to accelerate and drive growth. Geographically, which are focused on southern and eastern Europe, areas which are experiencing higher rates of growth with fewer large domestic and transit competitors. Our 51%-owned joint venture with a Greek-based Renault Group is an excellent example of this approach. The joint venture was created on April of 2023 to pursue utility-scale PV and battery energy storage opportunities. After great success in Greece, the joint venture has since expanded its business, including a few recent large wins in Romania. We expect to continue to grow Europe organically and through opportunistic acquisitions and partnerships. Europe not only represents an excellent growth market, but it also provides important diversification, as demand drivers in Europe are not subject to the same U.S. political and policy variables. We look forward to providing additional updates on this important aspect of our company's future growth. Before I hand the call over to Mark to cover our results and outlook, I would like to briefly highlight a number of key industry growth drivers and how we believe MRS Corp can benefit from them for years to come. The first key driver is the rapidly growing demand for electricity. This has been driven by the electrification of buildings and transportation, the power needs for many high-technology industries, and the growth in industrial manufacturing. Overall, electricity demand is expected to increase by 78% by 2050, needing 80 gigawatts of capacity added every year for the next 20 years. Meeting this demand will be a significant challenge to our aging system of centralized generation and the associated transmission infrastructure. As a result, many of our customers are choosing to install on-site behind the mirror generation and storage solutions. Amaresco has been providing a portfolio of these solutions since the founding of the company, including not only solar, but also battery energy storage systems, natural gas engines, gas turbines, fuel cells, and microgrids. We are also exploring the next generation of energy infrastructure technologies, like micro and small modular nuclear reactors. These power and storage solutions will be a key element to supporting ongoing global energy demand needs. Second, increasing energy costs is another key industry driver for which and Maresco is well-positioned to benefit from, particularly through our built-in efficiency solutions. As electricity prices rise, energy efficiency investments made by our customers deliver faster payback and stronger returns. Energy efficiency is often the most economical solution for existing buildings. According to Frost and Sullivan, Maresco is the nation's largest largest provider of energy efficiency services, which represent nearly half of our current project backlog. Third, the increasing stress on the country's aging energy infrastructure from high demand and the critical natural oil uninterruptible power is quickly driving a growing demand for resilient energy solutions. High-nines power is not only a must-have for critical high technology industries, such as data centers, but also for industrial customers, where even limited downtime can have significant cost of production consequences. Advancements in lithium battery technologies, as well as rapidly declining costs, have driven tremendous growth in the use of battery energy storage solutions over the last five years. Maresco has a very long track record of providing resilient solutions at military bases across the country, keeping their mission-critical functions running in case of grid power interruptions, and thus making us a go-to provider across all end markets. As you can see, we believe that Maresco is very well positioned to benefit from these long-term trends that should help drive profitable growth for many more years to come. Now, I would like to turn the call over to Mark to provide financial commentary on this quarter's excellent results, as well as provide our outlook for 2026. Mark? Thank you, George.