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ZEO on Nasdaq

Zeo Energy Corp.

Zeo Energy Corp. is a construction - special trade contractors company, listed on Nasdaq (ZEO).1 It is headquartered in Dallas, Texas.1

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Last updated Oct 21, 2026.

Overview

$69.3MRevenue, fiscal 20252
-$14.0MNet income, fiscal 20252

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  • TickerZEO on Nasdaq1
  • IndustryConstruction - Special Trade Contractors1
  • HeadquartersDallas, Texas1
  • Business address5956 Sherry Lane, Suite 1400, Dallas, Tx 752253
  • Filer category, Emerging growth company3

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White Lion Commitment Period or the occurrence of certain bankruptcy or insolvency-related events involving the Company.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-29.6%Operating margin2
-20.2%Net margin2
-5.3%Revenue growth, 20252
-262.8%Return on equity2
0.01×Debt to equity2
-$9.9MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Solar System Installations Net brought in 98% of the revenue Zeo Energy Corp. broke down this way in fiscal 2025.

  1. Solar System Installations Net$68.2M298%down 3% from 2024
  2. Roofing Installations$1.2M22%down 59% from 2024
Products and services by year
Products and services20242025
Solar System Installations Net$70.3M$68.2M
Roofing Installations$2.9M$1.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue45¢$31.1M
  • Other costs55¢$38.0M
  • Income tax0¢$263.6K

Out of $69.3M in revenue.2 The company lost money this year.

Financial statements

Revenue52$69.3M in 2025−37% since 2023
0$50.0M$100.0M$150.0M2023: $109.7M$109.7M20232024: $73.2M$73.2M2024−33%2025: $69.3M$69.3M2025−5%
Operating income652-$20.5M in 2025+625% since 2022
-$30.0M-$20.0M-$10.0M0$10.0M2022: -$2.8M-$2.8M20222023: $5.1M$5.1M20232024: -$10.8M-$10.8M20242025: -$20.5M-$20.5M2025+90%
Net income62-$14.0M in 2025
-$20.0M-$10.0M0$10.0M$20.0M2022: $14.3M$14.3M20222023: -$3.0M-$3.0M20232024: -$2.7M-$2.7M2024−11%2025: -$14.0M-$14.0M2025+425%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-12-312024-12-31
Total Net Revenues$69.3M$73.2M
Cost of revenues$31.1M$38.1M
Depreciation and amortization$8.6M$4.8M
Sales and marketing$22.7M$19.6M
General and administrative$27.5M$21.6M
Total Operating Expenses$89.9M$84.0M
LOSS FROM OPERATIONS-$20.5M-$10.8M
Other income$363.9K$141.5K
Interest expense-$155.5K-$333.5K
Gain on disposal of property and equipment$91.7K
Gain on change in fair value of warrant liabilities$957.7K$69.0K
Total Other Income (Expense)$1.2M-$31.4K
NET LOSS FROM OPERATIONS BEFORE INCOME TAXES-$19.4M-$10.8M
Income tax benefit (provision)-$263.6K$963.8K
NET LOSS-$19.6M-$9.9M
Less: Net loss attributable to Sunergy Renewables LLC prior to the business combination-$523.7K
NET LOSS SUBSEQUENT TO THE BUSINESS COMBINATION-$19.6M-$9.3M
Less: Net loss attributable to redeemable noncontrolling interests-$5.6M-$6.7M
NET LOSS ATTRIBUTABLE TO CLASS A COMMON STOCKHOLDERS-$14.0M-$2.7M
Foreign currency translation adjustments$4.9K
NET COMPREHENSIVE LOSS-$14.0M-$2.7M

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Corporate structure

Zeo Energy Corp. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Zeo Energy Corp.

  • Zeo Energy Corp. Dallas, Texas

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Zeo Energy Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$5.1M2 Dec 31, 2025$3.9M2 Dec 31, 2024+31.7%
Accumulated depreciation$2.3M2 Dec 31, 2025$1.4M2 Dec 31, 2024+62.8%
Property and equipment, net$2.8M2 Dec 31, 2025$2.5M2 Dec 31, 2024+14.3%
Finance-lease assets$310.5K2 Dec 31, 2025$447.0K2 Dec 31, 2024−30.5%
Operating-lease assets (leased space)$897.5K2 Dec 31, 2025$1.3M2 Dec 31, 2024−29.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$6.1M2 Dec 31, 2025$5.6M2 Dec 31, 2024+8.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$27.1M2 Dec 31, 2025$27.0M2 Dec 31, 2024+0.3%
Finite-lived intangibles, gross$14.6M2 Dec 31, 2025$14.6M2 Dec 31, 20240%
Accumulated amortization-$14.6M2 Dec 31, 2025-$7.0M2 Dec 31, 2024−107.5%
Finite-lived intangibles, net$7.6M2 Dec 31, 2024$771.0K5 Dec 31, 2023+882.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$852.2K2 Dec 31, 2025$872.5K2 Dec 31, 2024−2.3%

Properties, in its own words

Our corporate headquarters are located in Florida under a lease that expires at the end of October 2026. We maintain offices for operations in Texas and Arkansas, and we have sales, marketing and executive offices in Utah and throughout Florida. We currently lease the office and warehouse spaces that we use in our operations, and we do not own any real property. We believe that our facility space adequately meets our needs and that we will be able to obtain any additional operating space that may be required on commercially reasonable terms.

Item 2 of the 10-K filed Apr 1, 2026.4

Leadership

Who has led Zeo Energy Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Andrea Bernatova2021
  2. Timothy A. Bridgewater2024–now

Chief financial officer

  1. Nader Daylami2021
  2. Timothy A. Bridgewater2024
  3. Cannon Holbrook2024–now

Chief operating officer

  1. Kalen Larsen2024–now
2025
Board members and other officers (12)

Former names

  • ESGEN Acquisition CorpJun 21, 2021 to Mar 13, 20243

Timeline

  1. Aug 21, 20268-K Entered a material agreement26
  2. Aug 11, 20268-K Shareholder vote27
  3. Jun 15, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares28
  4. Apr 24, 20268-K Listing notice or transfer29
  5. Apr 17, 20268-K Regulation FD disclosure30
  6. Jan 27, 20268-K Entered a material agreement; Unregistered sale of shares31
  7. Nov 4, 20258-K Change of auditor32
  8. Sep 8, 20258-K Regulation FD disclosure33
  9. Aug 19, 20258-K Entered a material agreement; Unregistered sale of shares34
  10. Aug 12, 20258-K Completed an acquisition or sale35
  11. Aug 11, 20258-K Completed an acquisition or sale36
  12. Aug 11, 20258-K Regulation FD disclosure37
  13. Mar 15, 2024New chief executive Timothy A. Bridgewater becomes CEO12
  14. Oct 19, 2021New chief executive Andrea Bernatova becomes CEO13

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/202638

When it reported results

  1. Jun 18, 2025Reported quarterly or annual results39
  2. May 27, 2025Reported quarterly or annual results40
  3. Aug 20, 2024Reported quarterly or annual results41
  4. May 16, 2024Reported quarterly or annual results42
  5. Mar 20, 2024Reported quarterly or annual results43
  6. Mar 20, 2024Reported quarterly or annual results44

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

267 filings to the SEC since October 2021: 6 annual reports, 20 quarterly reports, 54 major events, 41 insider forms, 31 large holders, 115 other. The latest 20:

  1. Oct 14, 2026424B3 PROSPECTUS EDGAR
  2. Oct 13, 2026EFFECT EDGAR
  3. Oct 8, 2026S-3/A AMENDMENT NO.1 TO FORM S-3 EDGAR
  4. Aug 24, 2026S-3 REGISTRATION STATEMENT EDGAR
  5. Aug 21, 20268-K CURRENT REPORT EDGAR
  6. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  7. Aug 11, 20268-K CURRENT REPORT EDGAR
  8. Jul 6, 2026DEF 14A PROXY STATEMENT EDGAR
  9. Jun 25, 2026PRE 14A PROXY STATEMENT EDGAR
  10. Jun 15, 20268-K CURRENT REPORT EDGAR
  11. May 15, 202610-Q QUARTERLY REPORT EDGAR
  12. Apr 24, 20268-K CURRENT REPORT EDGAR
  13. Apr 17, 20268-K CURRENT REPORT EDGAR
  14. Apr 1, 202610-K ANNUAL REPORT EDGAR
  15. Apr 1, 2026NT 10-K NOTIFICATION OF LATE FILING EDGAR
  16. Mar 10, 20265 EDGAR
  17. Mar 10, 20265 EDGAR
  18. Feb 24, 20265 EDGAR
  19. Feb 23, 2026144 EDGAR
  20. Feb 3, 2026424B3 PROSPECTUS EDGAR

The 267 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

14 open-market trades by officers, directors and large owners since October 2021: 0 buys and 14 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 11, 2025Bridgewater BrandonCSOSale32,669$1.16$37.9KForm 4
Dec 11, 2025Bridgewater BrandonCSOSale32,669$1.16$37.9KForm 4
Dec 10, 2025Bridgewater BrandonCSOSale4,540$1.15$5.2KForm 4
Dec 10, 2025Bridgewater BrandonCSOSale4,540$1.15$5.2KForm 4
Dec 9, 2025Bridgewater BrandonCSOSale18,191$1.16$21.1KForm 4
Dec 8, 2025Bridgewater BrandonCSOSale24,490$1.20$29.4KForm 4
Sep 3, 2025Larsen KalenCOOSale26,636$1.61$42.9KForm 4
Sep 3, 2025Bridgewater BrandonCSOSale26,636$1.61$42.9KForm 4
Aug 29, 2025Larsen KalenCOOSale440$1.60$704Form 4
Aug 29, 2025Bridgewater BrandonCSOSale440$1.60$704Form 4
Aug 28, 2025Bridgewater BrandonCSOSale28,875$1.62$46.8KForm 4
Aug 28, 2025Larsen KalenCOOSale28,875$1.62$46.8KForm 4
Aug 27, 2025Bridgewater BrandonCSOSale32,412$1.75$56.7KForm 4
Aug 27, 2025Larsen KalenCOOSale32,412$1.75$56.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Stirling Adams GC$290.0K$957.5K58
2025Cannon HolbrookCFO54$225.0K$828.2K58
2025Timothy Bridgewater65$390.0K58
2024ChairmanCEO$260.0K$7.3M58
2024Stirling Adams GC$225.3K$371.4K58
2024Cannon HolbrookCFO54$135.6K$161.8K58

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 30. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Citizens Financial Group Inc/ri541,175$357.4K0.0%No change
Vanguard Capital Management LLC421,569$278.2K0.0%+54,597
UBS Group AG115,994$76.6K0.0%+114,363
Geode Capital Management, LLC109,279$72.2K0.0%−20,413
PNC Financial Services Group, Inc.75,000$49.5K0.0%No change
Groupe la Francaise43,761$28.9K0.0%No change
State Street Corp38,900$25.7K0.0%No change
XTX Topco Ltd38,891$25.7K0.0%−6,881
SHANDA ASSET MANAGEMENT HOLDINGS Ltd37,249$24.6K0.0%No change
Jane Street Group, LLC30,080$19.9K0.0%+5,289
Creative Planning17,107$11.3K0.0%−171
Credit Industriel Et Commercial10,845$7.2K0.0%No change
Northern Trust Corp10,625$7.0K0.0%New
Vanguard Fiduciary Trust Co10,497$6.9K0.0%No change
Tower Research Capital LLC (TRC)10,043$6.6K0.0%+7,864
Morgan Stanley2,779$1.8K0.0%+23
Caz Investments LP2,738$1.8K0.0%+1,369
Jpmorgan Chase & Co1,612$1.1K0.0%No change
Abound Financial, LLC1,520$1.0K0.0%No change
Group One Trading LLC1,348$8900.0%No change
Noble Wealth Management PBC876$5790.0%No change
NewEdge Advisors, LLC250$1650.0%No change
SBI Securities Co., Ltd.134$880.0%No change
Fmr LLC100$660.0%No change
Barclays PLC73$480.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Zeo Energy Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARZeo Energy Corp.1
  • CIK0001865506
  • Employer ID (EIN)98-16014094
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)1700 Construction - Special Trade Contractors1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address5956 Sherry Lane, Suite 1400, Dallas, TX 752251
  • Phone214-987-61001
  • Shares outstanding33,593,737 Common Class A shares; 24,380,000 Class V Common Stock shares as of Mar 27, 20264
  • Public float$8.0M as of Jun 30, 20254
  • AuditorTanner, Lehi, Utah PCAOB ID 270; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 21, 20211
  • Filings270 in all: 8-K (47), 425 (26), 3 (19), 4 (18), 10-Q (15), UPLOAD (13), CORRESP (12), SC 13G (12)1
    All 42 form types

    SC 13G/A (12), EFFECT (9), 144 (8), 424B3 (8), 8-K/A (7), 10-K (5), 10-Q/A (5), DEF 14A (4), PRE 14A (4), S-4/A (4), SCHEDULE 13G/A (4), 5 (3), NT 10-K (3), NT 10-Q (3), POS AM (3), PRER14A (3), S-1 (3), S-1/A (2), S-4 (2), SCHEDULE 13D/A (2), 10-K/A (1), 25-NSE (1), 4/A (1), 424B4 (1), 424B7 (1), 8-A12B (1), CERT (1), DEFM14A (1), DRS (1), S-1MEF (1), S-3 (1), S-3/A (1), S-8 (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Apr 1, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jul 6, 2026
    Latest 8-K (8-K) Aug 21, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, par value $0.0001 per shareZEONasdaq
Warrants, each exercisable for one share of Class A Common Stock at a price of $11.50, subject to adjustmentZEOWWNasdaq

From the cover page of the 10-K filed Apr 1, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Zeo Energy Corp. names in Item 1A of its 10-K filed Apr 1, 2026: 76 risks under these headings, as written.4

  • Risks Related to the Solar Industry
  • The solar energy industry is an emerging market which is constantly evolving and additional demand for solar energy systems may not develop to the size or at the rate we expect.
  • We face competition from electric utilities, retail electric providers, independent power producers, renewable energy companies and other market participants.
  • A material reduction in the retail price of electricity charged by electric utilities or other retail electricity providers would harm our business, financial condition and results of operations.
  • Sales and installation of solar energy systems depend heavily on suitable meteorological and environmental conditions. If meteorological or environmental conditions are unexpectedly unfavorable, the electricity production from our solar service offerings may be below our expectations, and our ability to timely deploy new systems may be adversely impacted.
  • Climate change may have long-term impacts on our business, our industry, and the global economy.
  • Our business has benefited from the declining cost of solar energy systems and energy storage system components and may be harmed to the extent the cost of such components stabilizes or increases in the future.
  • Risks Related to Operations
  • We may be unable to sustain our net losses.
  • Our growth depends in part on the success of our relationships with third parties such as our equipment suppliers, subcontractors and dealers, including dealers who market to customers and bring the resulting solar contracts to us for fulfillment.
  • Due to the limited number of suppliers in our industry, the acquisition of any of these suppliers by a competitor or any shortage, delay, price change, announcement or imposition of tariffs or duties or other limitation in our ability to obtain components or technologies we use could result in sales and installation delays, cancellations and loss of customers.
  • We depend on a limited number of suppliers of solar energy system components and technologies to adequately meet demand for our solar energy systems. If we needed to identify alternative suppliers or to qualify alternative products on commercially reasonable terms, our ability to satisfy demand may be adversely affected.
The other 66 risks
  • Increased scrutiny of environmental, social, and governance (“ESG”) matters could have an adverse effect on our business, financial condition and results of operations and damage our reputation.
  • We and our suppliers and subcontractors are subject to risks associated with construction, cost overruns, delays, customer cancellations, regulatory compliance, and other contingencies, any of which could have a material adverse effect on our business and results of operations.
  • We use subcontractors to perform certain services, which makes us vulnerable to the extent we rely on them.
  • Compliance with occupational safety and health requirements and best practices can be costly, and noncompliance with such requirements may result in potentially significant penalties, operational delays and adverse publicity.
  • If we fail to manage our recent and future growth effectively, we may be unable to execute our business plan, maintain high levels of customer service, or adequately address competitive challenges.
  • The execution of our growth strategy is dependent upon the continued availability of third-party financing arrangements for our customers’ purchases and is affected by general economic conditions and other factors.
  • The cost of maintenance or repair of solar energy systems or energy storage systems throughout the period for which we have offered warranties may be higher than projected today and adversely affect our financial performance and valuation.
  • Problems with product quality or performance may lower the residual value of our solar energy systems and may damage our market reputation and cause our financial results to decline.
  • Warranties provided by the manufacturers of equipment we sell or service may be limited by the ability of a supplier and manufacturer to satisfy its warranty or performance obligations or by the expiration of applicable time or liability limits, which could reduce or void the warranty protections of our customers and increase costs to customers for the systems we offer.
  • Product liability claims against us or accidents could result in adverse publicity and potentially significant monetary damages.
  • Technical and regulatory limitations regarding the interconnection of solar energy systems to the electrical grid may significantly delay interconnections and customer in-service dates, harming our growth rate and customer satisfaction.
  • Our headquarters and other facilities, the facilities of certain subcontractors and suppliers, and our customers are concentrated in certain regions, putting us at risk of region-specific disruptions, including hurricanes or other extreme weather events.
  • Expansion into new sales channels could be costly and time-consuming. As we enter new channels, we could be at a disadvantage relative to other companies who have more history in these spaces.
  • Obtaining a sales contract with a potential customer does not guarantee that the potential customer will not decide to cancel or that we will not need to cancel due to a failed inspection, which could cause us to generate no revenue despite incurring costs and adversely affect our results of operations.
  • We may not realize the anticipated benefits of past or future investments, strategic transactions, or acquisitions, and integration of these acquisitions may disrupt our business and management.
  • Disruptions to solar production metering and energy storage solutions could negatively impact customer experiences, which could damage our market reputation and adversely impact our financial results.
  • Our business may be harmed if we fail to properly protect our intellectual property, or if we are required to defend against claims or indemnify others against claims that we infringe on the intellectual property rights of third parties.
  • We use “open source” software components in our solutions as well as other licensed software, which may require that we release the source code of certain software subject to open source licenses or subject us to possible litigation or other actions that could adversely affect our business.
  • Any security breach, unauthorized access or disclosure, or theft of data, including personal information, we, our third party service providers, and suppliers gather, store, transmit, and use, or other hacking, cyber-attack, phishing attack, and unauthorized intrusions into or through our systems or those of our third party service providers, could harm our reputation, subject us to claims, litigation, financial harm, and have an adverse impact on our business.
  • Terrorist attacks or cyberattacks against centralized utilities could adversely affect our business.
  • We may be subject to information technology system failures or network disruptions that could damage our business operations, financial conditions or reputation.
  • Damage to our brand and reputation or failure to expand our brand would harm our business and results of operations.
  • The loss of one or more members of our senior management or key personnel may adversely affect our operations.
  • A failure to hire and retain a sufficient number of employees and service providers in key functions would constrain our growth and our ability to timely complete customers’ projects and successfully manage customer accounts.
  • Regulators may limit the type of electricians qualified to install and service our solar and battery systems, or introduce other requirements on our installation staff, which may result in workforce shortages, operational delays, and increased costs.
  • We have previously been subject to, and we may in the future be subject to, regulatory inquiries and litigation, all of which are costly, distracting to our core business and could result in an unfavorable outcome, or a material adverse effect on our business, financial condition, results of operations, or the trading price of our securities.
  • If we are unsuccessful in selling new services and products, our business, financial condition and results of operations could be adversely affected.
  • Our operating results and our ability to grow may fluctuate on a seasonal basis and from quarter to quarter and year to year, which could make our future performance difficult to predict and could cause our operating results for a particular period to fall below expectations.
  • We may be unable to generate sufficient cash flows or obtain access to external financing necessary to fund our operations and make adequate capital investments as planned due to the general economic environment, cost inflation, and/or the market pressure driving down the average selling prices of our products and services, among other factors.
  • Inflation could result in decreased value from future contractual payments and higher expenses for labor and equipment, which, in turn, could adversely impact our reputation, business, financial condition, cash flows and results of operations.
  • Fluctuations in interest rates could adversely affect our business and financial results.
  • We may incur additional debt in the future, which could introduce debt servicing costs and risks to our business.
  • So long as the Convertible OpCo Preferred Units of OpCo remain outstanding, the Sponsor holds certain consent rights over OpCo’s ability to incur indebtedness, which could adversely affect the future business and operations of OpCo and Zeo, including by decreasing its business flexibility.
  • We have suppliers that are based or manufacture the products we sell outside the United States, which may subject us to additional business risks, including logistical complexity and political instability.
  • We are currently dependent on third-party leasing companies to offer customers the option of leasing our solar energy systems.
  • We intend to seek out additional third-party investors to provide financing for customers wishing to lease their solar energy systems. However, no assurance can be given that we will be able to successfully do so.
  • We typically bear the cost of maintenance and repair on solar energy systems we install that are owned and leased by third-party leasing companies.
  • Members of our management team have interests in or are employed by other business ventures that may divert their attention from our business.
  • Our transactions with related parties may create conflicts of interest that could adversely affect our business or financial condition.
  • Risks Related to Regulation and Policy
  • Our business currently depends on the availability of utility rebates, tax credits and other benefits, tax exemptions and exclusions, and other financial incentives on the federal, state, and/or local levels. We may be adversely affected by changes in, and application of these laws or other incentives to us, and the expiration, elimination or reduction of these benefits could adversely impact our business.
  • We rely on certain utility rate structures, such as net metering, to offer competitive pricing to customers, and changes to those policies may significantly reduce demand for electricity from our solar energy systems.
  • Electric utility policies, statutes, and regulations and changes to such statutes or regulations may present technical, regulatory and economic barriers to the purchase and use of our solar energy offerings that may significantly reduce demand for such offerings.
  • We are not currently regulated as a utility under applicable laws, but we may be subject to regulation as a utility in the future or become subject to new federal and state regulations for any additional solar service offerings we may introduce in the future.
  • Changes to the applicable laws and regulations governing direct-to-home sales and marketing may limit or restrict our ability to effectively compete.
  • Increases in the cost or reduction in supply of solar energy system and energy storage system components due to tariffs or trade restrictions announced or imposed by the U.S. government could have an adverse effect on our business, financial condition and results of operations.
  • Any failure to comply with laws and regulations relating to interactions by us or third parties (such as our dealers and subcontractors) with customers or with licensing requirements applicable to our business could result in negative publicity, claims, investigations and litigation, and may adversely affect our financial performance.
  • Compliance with environmental laws and regulations can be expensive, and noncompliance with these laws and regulations may result in adverse publicity and potentially significant monetary damages and fines.
  • Compliance with health and safety laws and regulations can be complex, and noncompliance with these laws and regulations may result in potentially significant monetary damages and fines.
  • A change in our effective tax rate could have a significant adverse impact on our business, and an adverse outcome resulting from examination of our income or other tax returns could adversely affect our results.
  • Risks Related to Ownership of Zeo Securities
  • Certain existing securityholders purchased, or may purchase, securities in the Company at a price below the current trading price of such securities, and may experience a positive rate of return based on the current trading price. Future investors in the Company may not experience a similar rate of return.
  • Our management team has limited experience managing a public company, and regulatory compliance obligations may divert its attention from the day-to-day management of our businesses.
  • We incur significant costs as a result of operating as a public company.
  • As a public reporting company, we are subject to rules and regulations established from time to time by the SEC and Public Company Accounting Oversight Board regarding our internal control over financial reporting. If we fail to establish and maintain effective internal control over financial reporting and disclosure controls and procedures, we may not be able to accurately report our financial results or report them in a timely manner, which could adversely affect our business.
  • We have identified material weaknesses in our internal controls over financial reporting. If we are unable to remediate these material weaknesses, if management identifies additional material weaknesses in the future or if we otherwise fail to maintain effective internal controls over financial reporting, we may not be able to accurately or timely report our financial position or results of operations, which may adversely affect our business and stock price or cause our access to the capital markets to be impaired.
  • Changing laws and regulations could create uncertainty for Zeo regarding compliance matters and result in higher costs.
  • The rules and regulations applicable to public companies make it more expensive for Zeo to obtain and maintain director and officer liability insurance, which could adversely affect its ability to attract and retain qualified officers and directors.
  • An active, liquid market for Zeo’s securities may not develop, which would adversely affect the liquidity and price of Zeo’s securities.
  • The market price of the shares of Class A Common Stock may decline.
  • The price of Class A Common Stock may change significantly, even if Zeo’s business is doing well, and you could lose all or part of your investment as a result.
  • Warrants issued in the IPO are exercisable for Class A Common Stock, which would increase the number of shares eligible for future resale in the public market and result in dilution to the stockholders of Zeo.
  • Zeo stockholders may experience significant dilution as a result of a Convertible OpCo Preferred Unit Conversion.
  • Zeo may be subject to securities class action litigation, which may harm its business and operating results.
  • Because there are no current plans to pay cash dividends on shares of Class A Common Stock for the foreseeable future, you may not receive any return on investment unless you sell your shares of Class A Common Stock at a price greater than what you paid for them.
  • Zeo may issue additional shares of Class A Common Stock or other equity securities without seeking approval of its stockholders, which would dilute your ownership interests and may depress the market price of Class A Common Stock.
  • If securities or industry analysts do not publish research or reports about Zeo’s business, if they change their recommendations regarding the shares of Class A Common Stock or if Zeo’s operating results do not meet their expectations, the price and trading volume of shares of Class A Common Stock could decline.
  • If Zeo’s performance does not meet market expectations, the price of its securities may decline.

Legal proceedings

To the knowledge of our management, there is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management team in their capacity as such.

However, from time to time, we have been, are and will likely continue to be involved in legal proceedings, administrative proceedings and claims that arise in the ordinary course of business with customers, subcontractors, suppliers, regulatory bodies or others. In general, litigation claims or regulatory proceedings can be expensive and time consuming to bring or defend against, which may result in the diversion of management’s attention and resources from our business and business goals and could result in settlement or damages that could significantly affect financial results and the conduct of our business.

The opening of Item 3, Legal Proceedings.4

Sources

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