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EnerNOC's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Additional information concerning these factors is contained in EnerNOC's filings with the SEC, including our Annual Report on Form 10-K and quarterly reports on Form 10-Q, available at The forward-looking statements included in this call represent the Company's views on August 07, 2012. EnerNOC disclaims any obligation to update these statements to reflect future events or circumstances.

During this call, we will refer to non-GAAP financial measures, including non-GAAP net loss per share, non-GAAP earnings per share, free cash flow and adjusted EBITDA. These financial measures are non-GAAP financial measures that are not prepared in accordance with generally accepted accounting principles. A definition of reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure is available in the press release announcing our second quarter financial results. The press release is available on the Investors section and on our website at

And with that, I will now turn the call over to Tim Healy.

Tim Healy

Thanks, Jen, and thank you to everyone for joining us this afternoon on our second quarter 2012 conference call. In today’s prepared remarks, I’ll spend a few minutes discussing our second quarter performance and how we believe it positions us to maximize customer and shareholder value in 2012 and beyond. David Brewster will then provide color on our current and emerging market opportunities and some important regulatory developments. Finally, Kevin Bligh will discuss our Q2 financial results and provide an overview of a number of key business metrics in details on our updated financial outlook including our increased guidance for 2012 and 2013.

First, visibility of our top line growth increased during the quarter. In PJM’s recent base residual auction for the 2015, 2016 delivery year, we were successful in strengthening our leadership position in the mid-Atlantic by securing more than $300 million in expected future revenue. To put that into perspective, our expected PJM revenue for the 2015, 2016 delivery year is more than the total amount of revenue that EnerNOC expect to recognize this year across all of our products and markets combined.

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