Altus Power(US:AMPS)2024-03-15 02:342023 Performance Highlights - Altus Power achieved record expansion during 2023, becoming the 1 market leader in commercial scale solar[8] - The company has over 450 enterprise customers[8] - As of December 31, 2023, Altus Power's portfolio reached 896 MWs[8] - Estimated Annual Recurring Revenues (ARR) from the year-end portfolio is $183 million[8] - Full year 2023 operating revenues reached $155 million[40] - Full year 2023 Adjusted EBITDA was $93 million, representing a 60% margin[40] - The company closed ~$470 million of new financings during Q4 2023[28] 2024 Guidance and Financing - Altus Power anticipates 2024 operating revenues in the range of $200 million to $222 million[12] - The company projects 2024 Adjusted EBITDA to be between $115 million and $135 million[12] - Blackstone Term Funding Facility will cover 60-70% of asset costs for new builds[30] - No equity financing is expected for the 2024 growth plan[31] Financial Results - The company reported a net loss of $26 million for 2023, compared to a net income of $522 million in 2022[11] - Fourth quarter 2023 net loss was $40 million, compared to a net income of $671 million in Q4 2022[18]