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EnerNOC Reports Record Full Year Results For 2013

Stocks in this article: ENOC

– Company Posts Record Full Year Revenue of $383.5 Million, Up 38% Year-Over-Year –

– Company Posts Record Full Year Adjusted EBITDA of $71.4 Million, up 287% Year-Over-Year –

– Company Issues Guidance for 2014 –

BOSTON, Feb. 13, 2014 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software, today announced results for the fourth quarter and year ended December 31, 2013 and issued management's outlook for 2014.

Summary Financial Results            
In Thousands, Except Per Share Amounts Q4 2013 Q4 2012 % Change 2013 2012 % Change
Revenue $35,984 $42,314 (15.0%) $383,460 $277,984 37.9%
Net (Loss) Income            
 GAAP  $ (19,881)  $ (25,792) 22.9% $22,088  $ (22,293) n/a
 Non-GAAP 1  $ (14,076)  $ (20,391) 31.0% $44,985  $ (1,436) n/a
Diluted Net (Loss) Income Per Share            
 GAAP  $ (0.71)  $ (0.96) 26.0% $0.76  $ (0.84) n/a
 Non-GAAP 1  $ (0.51)  $ (0.76) 32.9% $1.55  $ (0.05) n/a
Cash Flow From Operations $46,005 $18,145 153.5% $79,464 $31,011 156.2%
Free Cash Flow 1 $42,267 $14,043 201.0% $42,801 $15,157 182.4%
Adjusted EBITDA 1  $ (10,913)  $ (13,899) 21.5% $71,428 $18,446 287.2%
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.

"Our strong performance in 2013 reflects our ability to effectively execute on our long term growth and market diversification strategy," said Tim Healy, Chairman and Chief Executive Officer of EnerNOC, Inc. "In 2014, we are focused on expanding our footprint in both Europe and Asia, extending our leadership position in the Energy Intelligence Software market and delivering exceptional results for our customers. We have never been more excited about our strategy and our prospects for profitable growth."

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