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EnerNOC Reports Results For Second Quarter Of 2013

BOSTON, Ma., Aug. 6, 2013 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software, today announced results for the second quarter of 2013 and reaffirmed its full year guidance.

Summary Financial Results
             
In Thousands, Except Per Share Amounts Q2 2013 Q2 2012 % Change 1H 2013 1H 2012 % Change
Revenue $36,153 $33,273 8.7% $69,003 $57,723 19.5%
Net Loss            
 GAAP $(34,351) $(29,136) (17.9%) $(64,888) $(56,849) (14.1%)
 Non-GAAP 1 $(29,281) $(24,043) (21.8%) $(53,320) $(46,542) (14.6%)
Diluted Net Loss Per Share            
 GAAP $(1.23) $(1.10) (11.8%) $(2.35) $(2.16) (8.8%)
 Non-GAAP 1 $(1.05) $(0.91) (15.4%) $(1.93) $(1.77) (9.0%)
Cash Flow From Operations $5,384 $4,429 21.6% $12,164 $4,241 186.8%
Free Cash Flow 1 $(12,864) $(1,152) (1,016.7%) $(15,022) $(4,893) (207.0%)
Adjusted EBITDA 1 $(22,387) $(18,153) (23.3%) $(40,894) $(36,735) (11.3%)
             
1Refer to "Statement of Use of Non-GAAP Measures" for non-GAAP definitions and refer to the financial schedules attached to this press release for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures.

"We are pleased with the progress we achieved in all key areas of the business in the second quarter," said Tim Healy, Chairman and Chief Executive Officer of EnerNOC, Inc. "Based on the overall strength of the business in the first half of the year and the confidence we have in our growth strategy, we are pleased to be reaffirming our full year guidance. Moving forward, our focus will continue to be extending our leadership position in the demand response market in the United States, capitalizing on the growing demand for demand response solutions in international markets, and unlocking the full potential of our other energy intelligence solutions globally."

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