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Zeo Energy Corp

For the period ended Mar 31, 2024. Filed May 16, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 16, 2024

ZEO$0.21-2.2%Stored close · as of Nov 6, 2026
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**UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark one)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31,2024

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)

Delaware98-1601409
(State or other jurisdiction of incorporation or organization)(IRS Employer Identification No.)

7625 Little Rd, Suite 200A, New Port Richey, FL 34654

(Address of principal executive offices and Zip Code)

(727) 375-9375

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per shareZEOThe Nasdaq Stock Market LLC
Warrants, each exercisable for one share of Class A Common Stock at a price of $11.50, subject to adjustmentZEOWWThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes ☐ No☒

As of May 14, 2024, the registrant had 5,805,345 shares of Class A common stock, par value $0.0001 outstanding, and 35,230,000 shares of Class V common stock, par value $0.0001, outstanding.

Page
PART 1 – FINANCIAL INFORMATION1
Item 1. Financial Statements (Unaudited)1
Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 20231
Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 20232
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2024 and 20233
Condensed Statements of Cash Flows for the three months ended March 31, 2024 and 20235
Notes to Condensed Financial Statements6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations23
Item 3. Quantitative and Qualitative Disclosures about Market Risk32
Item 4. Control and Procedures32
PART II – OTHER INFORMATION33
Item 1. Legal Proceedings33
Item 1A. Risk Factors33
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds33
Item 3. Defaults Upon Senior Securities33
Item 4. Mine Safety Disclosures33
Item 5. Other Information33
Item 6. Exhibits34
SIGNATURES35

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