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ENERNOC INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2017 10-Q, filed Aug 9, 2017. Its latest SEC filing is a 15-12B from Aug 21, 2017.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Provides demand response services to utilities and electric power grid operators, coordinating electricity reductions at commercial, institutional and industrial sites. Sells energy management software and procurement services to enterprises and utilities.

How Did They Make Money?

Utilities and grid operators pay for available demand-response capacity and ongoing fees to manage their programs. Enterprises pay for software and services over a service period; energy suppliers and consumers pay fees for procurement auctions and advisory services.

FY2016 revenue by reportable segment revenue
SegmentShareRevenue
Demand Response
83%
Software
17%

Who Were Their Customers?

Utilities and electric power grid operators buy demand-response services through contracts and open-market programs; enterprises buy energy software, procurement and professional services through EnerNOC's sales teams.

Did Revenues Turn Into Profits?

No. It lost $50.4M in FY2016.

Operating income, FY2016
−9% of revenue
▲ +81% (Loss) vs FY2015 (−$188M, −47%)
Net income, FY2016
−12% of revenue
▲ +73% (Loss) vs FY2015 (−$185.1M, −46%)
Free cash flow, FY2016
−15% of revenue
▼ −196% (Loss) vs FY2015 (−$20.5M, −5%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q2 FY2017, the three months to Jun 30, 2017
Revenue
▼ −50%
vs $132.7M in Q2 FY2016
Net income
▼ Turned to a loss
vs $102K in Q2 FY2016
Demand Response share of revenue vs 87.8% in Q2 FY2016
  • Aug 7, 2017 Enel Green Power North America completed its acquisition of EnerNOC EnerNOC became a direct wholly owned subsidiary of Enel Green Power North America.
  • May 9, 2017 EnerNOC reaffirmed its full-year 2017 revenue guidance

Held flat. Revenue was $404M in FY2016, about the same as the $399.6M of FY2015.

Revenue over time
Demand Response Software
$500M$250M$0

Who Did They Compete With?

Competes with Schneider Electric, Ecova, Siemens, CPower, and NRG Energy

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