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BrightView is like:

• The Waste Management for commercial landscaping.
• The AECOM for landscape infrastructure projects.

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• Recurring Commercial Landscaping Services: Provides ongoing outdoor property care, including mowing, gardening, mulching, and snow removal for various commercial, residential, and institutional properties.

• Specialized Landscape Maintenance: Offers focused upkeep services such as water management, irrigation maintenance, tree care, and specialty turf and golf course maintenance.

• Landscape Architecture and Development: Delivers design and installation for new and redesigned landscapes, including irrigation, tree moving, pool/water features, and sports fields.

• Project Design and Management: Provides comprehensive design and management services for landscape development projects.

• Sports Field Consulting: Offers specialized consulting services, including being an official field consultant for league baseball.

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Major Customers of BrightView (BV)

BrightView (BV) primarily sells its commercial landscaping and development services to other companies, organizations, and entities rather than directly to individuals. The company does not publicly disclose the names of specific major customer companies. Instead, it categorizes its customer base by the type of property or organization served.

Based on the company's description, its major customer categories include:

• Corporate, Commercial, and Retail Properties: This category encompasses services provided to approximately 13,000 office parks and corporate campuses, as well as various commercial properties, restaurants, and retail establishments.
• Residential Communities (managed by Homeowners Associations): BrightView serves numerous residential communities, providing maintenance services through their respective homeowners associations (HOAs) for approximately 8,000 communities.
• Institutional and Public Entities: This broad category includes services for public parks, hotels and resorts, hospitals and other healthcare facilities, and educational institutions (approximately 450 institutions). The company also serves as an official field consultant to various league baseball organizations.

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Dale A. Asplund, President and Chief Executive Officer

Dale A. Asplund was appointed President and Chief Executive Officer of BrightView in October 2023. He brings over 25 years of extensive operational and publicly traded company expertise, primarily from United Rentals, Inc., where he most recently served as Executive Vice President and Chief Operating Officer. At United Rentals, he held strategic leadership roles covering business services, supply chain, fleet management, and information technology. Earlier in his career, he worked for United Waste Systems, Inc. In conjunction with his appointment, BrightView announced a $500 million strategic investment from One Rock Capital Partners, a private equity firm.

Brett Urban, Executive Vice President and Chief Financial Officer

Brett Urban was appointed Executive Vice President, Chief Financial Officer in October 2022. He joined BrightView in 2016 and previously served as Senior Vice President of Finance for the Maintenance Services division. In his prior roles at BrightView, he led the corporate finance function, the procurement department, and was instrumental in executing over 30 strategic acquisitions since 2017. Before joining BrightView, Mr. Urban held senior finance positions at Aramark, a global provider of food and facilities services.

Jonathan M. Gottsegen, Executive Vice President, Chief Legal Officer and Corporate Secretary

Jonathan M. Gottsegen serves as Executive Vice President, Chief Legal Officer, and Corporate Secretary. He has been the General Counsel and Corporate Secretary since December 2015.

Amanda Orders, Executive Vice President and Chief Human Resources Officer

Amanda Orders is the Executive Vice President and Chief Human Resources Officer. She joined BrightView in 2012 as Human Resources Vice President and was promoted to Senior Vice President of Human Resources for Maintenance Services in 2016. Ms. Orders was a key contributor to the Brickman/ValleyCrest merger in 2014 that formed BrightView. Prior to BrightView, she held HR leadership roles at Alliance Data and The ScottsMiracle-Gro Company.

Michael Dozier, Executive Vice President and Chief Commercial Officer

Michael Dozier serves as Executive Vice President and Chief Commercial Officer.

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The most significant risks include:

1. Labor Costs and Availability: BrightView's services are labor-intensive, making the company highly susceptible to fluctuations in labor costs and the availability of skilled workers. Increases in minimum wage, broader wage inflation, and labor shortages can exert considerable pressure on operating margins and profitability. Historically, the company has experienced average wage rate increases of approximately 5%.
2. Weather Dependency and Seasonality: The company's operations, particularly snow removal and general landscape maintenance, are directly impacted by weather patterns and seasonal changes. Unpredictable or extreme weather events, such as unusually heavy snowfalls, droughts, or severe storms, can disrupt service delivery, affect demand, and introduce significant volatility into BrightView's revenue and overall financial performance. Snowfall revenue, which constituted about 8% of the company's revenue in 2024, is particularly prone to this volatility.
3. Economic Sensitivity and Cyclicality: BrightView's business, especially its Development Services segment and discretionary maintenance work, is sensitive to broader economic conditions. Economic downturns or budgetary constraints experienced by commercial clients can lead to reduced spending on landscaping services and delays in development projects, thereby impacting the company's revenue and profitability. The company has noted impacts from an uncertain macroeconomic environment, resulting in delays for development projects and decreased discretionary client spending.

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• Maintenance Services: This segment, encompassing recurring commercial landscaping services such as mowing, gardening, mulching, snow removal, and tree care, constitutes a significant portion of the total market. Landscape and garden maintenance and management was the largest revenue-generating type in 2022, and in 2024, maintenance services led the market with a share of 52.2%.
• Development Services: This segment, which includes landscape architecture, design, and installation for new facilities and redesign projects, also represents a notable market. The market size for landscape design in the U.S. alone was $9.7 billion in 2026. Landscape & Garden Design & Construction is noted as a lucrative segment experiencing fast growth.

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BrightView Holdings, Inc. (BV) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:

1. Sales Force Expansion and Productivity: BrightView is significantly expanding its sales force, having added approximately 180 sellers year-over-year, a nearly 20% increase since early 2025. This expansion is already leading to sequential improvements in net new contract sales, underpinning management's long-term strategy for growth.
2. Improved Customer Retention: The company has focused on strengthening customer retention through initiatives aimed at consistent service levels and prioritizing frontline employees. Customer retention has shown improvement of approximately 450 basis points as of Q1 2026.
3. Growth in Land Contract Book of Business: BrightView's Land contract book has demonstrated growth of approximately 2% over three consecutive quarters, marked by positive net new contract sales. This expansion is considered a key leading indicator for accelerating Land revenue in the latter half of fiscal year 2026.
4. Return to Profitable Top-Line Revenue Growth: Management anticipates a return to profitable top-line revenue growth in its Land Maintenance business, with projections of 1-2% growth for fiscal year 2026. The Development Services segment is also expected to see flat to 2% growth.
5. Strategic Investments in Business: BrightView is making strategic investments in its business, including technology and fleet upgrades. These investments aim to enhance service quality, reduce costs, and improve operating margins, thereby supporting a stronger competitive position and facilitating long-term revenue growth.

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Share Repurchases

• In March 2025, BrightView's Board of Directors authorized a new $100 million share repurchase program with no specified expiration date.
• The company increased its existing share repurchase authorization to $150 million in November 2025.
• In December 2021, BrightView announced an agreement to repurchase 5.9 million shares of common stock from MSD Partners for approximately $82.5 million, with the transaction completed in January 2022. This was part of a broader $250 million share repurchase program authorized in December 2021.

Share Issuance

• On August 28, 2023, BrightView issued 500,000 shares of Series A Convertible Preferred Stock for an aggregate purchase price of $500 million, convertible into common stock at $9.44 per share.
• In September 2023, the company adopted the 2023 Employment Inducement Incentive Award Plan, reserving 1,750,000 shares of common stock for equity incentive compensation to attract new employees.

Inbound Investments

• BrightView secured a significant inbound investment of $500 million through the issuance of Series A Convertible Preferred Stock on August 28, 2023.

Capital Expenditures

• Capital expenditures significantly increased to $254.2 million for the fiscal year ended September 30, 2025, compared to $78.4 million in fiscal year 2024.
• During the first quarter of fiscal year 2025 (ended December 31, 2024), BrightView recorded its highest capital expenditures in a single quarter since going public, primarily focused on reinvesting in fleet upgrades and employee needs.
• Capital expenditures for the nine months ended June 30, 2024, were $46.0 million, a decrease from $57.9 million in the prior year, attributed to the timing of truck deliveries.