Financial Performance - Total revenue for Q1 2024 increased by 4% to $19.5 million compared to $18.7 million in Q1 2023[1] - Gross profit decreased by 47% to $1.8 million, representing 9.5% of net revenue, down from 18.6% in the prior year[5] - Net loss for the quarter was $1.7 million, compared to net income of approximately $1.6 million in Q1 2023, marking a significant decline[6] - Adjusted EBITDA resulted in a loss of $1.2 million, down from a profit of approximately $2.0 million in the same period last year[7] - Related party revenue for Q1 2024 was $8,812,769, compared to $0 in Q1 2023[17] - Net loss for Q1 2024 was $1,699,200, compared to a net income of $1,602,939 in Q1 2023[17] - The company reported a basic and diluted net loss per common unit of $1.20 for Q1 2024[17] Expenses and Cash Flow - Operating expenses increased to $21,102,265 in Q1 2024, up from $17,118,006 in Q1 2023, representing a 23.1% rise[17] - Cash used in operating activities for Q1 2024 was $10,153,821, a significant decrease from cash provided of $1,589,777 in Q1 2023[18] - Cash and cash equivalents at the end of Q1 2024 were $7,731,124, down from $3,418,889 at the end of Q1 2023[18] - The company experienced a net cash decrease of $291,182 in Q1 2024, contrasting with an increase of $1,150,583 in Q1 2023[18] - Proceeds from the issuance of convertible preferred stock in Q1 2024 amounted to $10,277,275[18] - Depreciation and amortization expenses for Q1 2024 were $462,701, compared to $432,599 in Q1 2023[17] Merger and Expansion - Merger transaction expenses totaled $11.7 million related to the business combination with ESGEN Acquisition Corp.[1] - Preferred equity of $15.0 million was provided by Energy Spectrum to cover merger expenses and support ongoing operations[1] - The company expanded its sales and installation capacity into Ohio and Illinois during Q1 2024[1] Future Outlook - Management anticipates more favorable equipment pricing and stable or declining interest rates throughout the year[3] - The company expects profitability to return to historical growth levels in the remaining quarters of 2024[3] - Total assets increased to $51.6 million as of March 31, 2024, compared to $48.0 million at the end of 2023[15] - Total revenue for Q1 2024 was $19,488,190, a 4.05% increase from $18,731,489 in Q1 2023[17]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40927 ZEO ENERGY CORP. (Exact name of registrant as specified in its charter) | --- | --- | |-------------------------------------------------- ...

Table of Contents Title of each classTrading Symbol(s)Name of each exchange on which registered Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant ESACU The Nasdaq Stock Market LLC Class A ordinary shares included as part of the units ESAC The Nasdaq Stock Market LLC Warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 ESACW The Nasdaq Stock Market LLC Emerging growth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each classTrading Symbol(s)Name of each exchange on which registered Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant ESACU The Nasdaq Stock Market LLC Class A ordinary shares included as part of the units ESAC The Nasdaq Stock Market LLC Warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 ESGEN Acquisition Corporation (Exact name of registrant as specified in its charter) Cayman Islands 001-40927 98-1601409 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification Number) 5956 Sherry Lane Suite ...

Table of Contents Title of Each Class: Trading Symbol: Name of Each Exchange on Which Registered: Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant ESACU The Nasdaq Stock Market LLC Class A ordinary shares included as part of the units ESAC The Nasdaq Stock Market LLC Warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 ESACW The Nasdaq Stock Market LLC UNITED STATES ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 ESGEN Acquisition Corporation (Exact name of registrant as specified in its charter) Cayman Islands 001-40927 98-1601409 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 5956 Sherry Lane Suite ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 ESGEN Acquisition Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Cayman Islands 001-40927 98-1601409 (Commission File Number) (I.R.S. Employer Identification Number) 5956 Sherry Lane Suite 1400 Dallas, Te ...

Financial Performance - The company had an income of $9,460,263 from April 19, 2021, to December 31, 2021, primarily due to a gain on the change in fair value of warrant liabilities amounting to $10,944,240[329]. - As of December 31, 2021, the company had $1,323,903 in cash and a working capital of $1,267,382[330]. - The company anticipates that cash held outside the trust account will not be sufficient to operate for at least the next 12 months if a Business Combination is not consummated[343]. Initial Public Offering (IPO) - Transaction costs for the initial public offering totaled $16,138,202, with $5,520,000 in underwriting commissions and $9,660,000 in deferred underwriting commissions[324]. - Following the initial public offering, $281,520,000 was deposited in a trust account, which will be invested in U.S. government securities or money market funds[325]. - The underwriters earned a total underwriting discount of $5,520,000, which is 2% of the gross proceeds from the initial public offering[336]. - The company has 15 months from the closing of the initial public offering to complete the initial Business Combination, or it will cease operations and redeem public shares[327]. Financial Obligations and Arrangements - As of December 31, 2021, the company had no off-balance sheet arrangements or long-term debt obligations[333]. - The company incurred $24,193 for office space and administrative services, which was accrued as "Due to related party" as of December 31, 2021[338]. - As of December 31, 2021, 27,600,000 Class A ordinary shares were subject to possible redemption, presented at redemption value as temporary equity[348]. Accounting Standards - The Financial Accounting Standards Board issued ASU 2020-06 to simplify accounting for certain financial instruments, effective January 1, 2022[352]. - ASU 2020-06 eliminates the separation of beneficial conversion and cash conversion features from convertible instruments[352]. - The new standard introduces additional disclosures for convertible debt and freestanding instruments indexed to an entity's own equity[352]. - ASU 2020-06 amends diluted earnings per share guidance, requiring the use of the if-converted method for all convertible instruments[352]. - The company is currently assessing the impact of ASU 2020-06 on its financial position, results of operations, or cash flows[352]. - The company does not believe that any other recently issued accounting standards would have a material effect on its financial statements[353]. Market Risk Disclosures - As a "smaller reporting company," the company is not required to provide quantitative and qualitative disclosures about market risk[354].

Table of Contents FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Quarterly Report Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 ESGEN Acquisition Corporation (Exact name of registrant as specified in its charter) | Cayman Islands | 001-40927 | 98-1601409 | | --- | --- | --- | | (State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer | | incorporation or organization) | ...