Montrose Environmental Group announced its fourth quarter and full year results for 2024 on February 26, 2025, reporting record financial and operating performance. Total revenue for the fourth quarter was $189.1 million, a 14.1% increase year-over-year, contributing to a full-year 2024 revenue of $696.4 million, up 11.6% from 2023.
The company reported a net loss of $28.2 million, or $0.90 per share, for Q4 2024, which included an $18.0 million charge related to the cancellation of executive Stock Appreciation Rights. Full-year 2024 net loss was $62.3 million, or $2.22 per share. Consolidated Adjusted EBITDA for Q4 2024 was $27.2 million, or 14.4% of revenue, and for the full year 2024, it reached a record $95.8 million, or 13.8% of revenues.
Montrose provided strong 2025 guidance, expecting revenue in the range of $735 million to $785 million and Consolidated Adjusted EBITDA between $101 million and $108 million. The company also entered into a new $500 million Senior Secured Credit Agreement on February 26, 2025, comprising a $200 million term loan and a $300 million revolving credit facility, maturing in 2030. Net cash provided by operating activities for full year 2024 was $22.2 million, impacted by $13.5 million in delayed receivables from a large U.S. government project for the City of Tustin, California, which the company remains confident in collecting.
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