v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 38,090 $ 44,930
Restricted cash 65 65
Accounts receivable (net of allowance for credit losses of $407 and $387 as of March 31, 2025 and December 31, 2024, respectively) 110,851 119,659
Contract assets 45,018 47,549
Other current assets 10,476 8,131
Total current assets 204,500 220,334
Property and equipment, net 31,174 30,126
Intangible assets, net 39,393 41,228
Goodwill 33,142 33,034
Operating lease right-of-use assets 20,516 21,539
Deferred tax asset 7,412 5,531
Other assets 233 337
Total assets 336,370 352,129
Current liabilities:    
Current portion of long-term debt 3,419 3,314
Current operating lease liabilities 4,192 4,093
Accounts payable, including retainage 54,901 60,814
Contract liabilities 40,173 44,519
Accrued income taxes 1,131 1,470
Accrued expenses and other current liabilities 27,923 36,827
Total current liabilities 131,739 151,037
Long-term debt 23,692 23,554
Long-term operating lease liabilities 16,682 17,766
Other long-term liabilities 3,127 6,281
Total liabilities 175,240 198,638
Commitments and contingencies (Note 13)
STOCKHOLDERS’ EQUITY    
Common stock, $0.0001 par value; 100,000,000 shares authorized, issued 11,804,291 and 11,452,753, respectively, and 11,624,639 and 11,273,101 outstanding, respectively 1 1
Additional paid-in capital 91,654 94,229
Treasury stock, at cost (179,652 shares at both period ends) (2,000) (2,000)
Retained earnings 71,475 61,261
Total stockholders’ equity 161,130 153,491
Total liabilities and stockholders’ equity $ 336,370 $ 352,129