v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,732 $ 28,316
Accounts receivable:    
Trade, net of allowance for credit losses of $1,099 and $555, respectively 168,526 106,304
Retainage 43,944 35,633
Income taxes receivable 875 483
Other current 3,338 3,127
Inventory 1,841 1,974
Contract assets 50,951 84,407
Prepaid expenses and other 8,765 9,084
Total current assets 279,972 269,328
Property and equipment, net of accumulated depreciation 97,677 86,098
Operating lease right-of-use assets, net of accumulated amortization 23,708 27,101
Financing lease right-of-use assets, net of accumulated amortization 23,061 25,806
Inventory, non-current 6,954 7,640
Deferred income tax asset 17 17
Other non-current 1,334 1,327
Total assets 432,723 417,317
Current liabilities:    
Current debt, net of debt issuance costs 1,160 426
Accounts payable:    
Trade 111,125 97,139
Retainage 2,847 1,310
Accrued liabilities 22,610 26,294
Income taxes payable 2 507
Contract liabilities 48,762 47,371
Current portion of operating lease liabilities 5,549 7,546
Current portion of financing lease liabilities 10,997 10,580
Total current liabilities 203,052 191,173
Long-term debt, net of debt issuance costs 32,268 22,751
Operating lease liabilities 21,030 20,837
Financing lease liabilities 7,665 11,346
Other long-term liabilities 15,484 20,503
Deferred income tax liability 30 28
Total liabilities 279,530 266,638
Stockholders' equity:    
Preferred stock -- $0.01 par value, 10,000,000 authorized, none issued
Common stock -- $0.01 par value, 50,000,000 authorized, 40,446,476 and 39,681,597 issued; 39,681,597 and 38,970,366 outstanding at March 31, 2025 and December 31, 2024, respectively 404 397
Treasury stock, 711,231 shares, at cost, as of March 31, 2025 and December 31, 2024, respectively (6,540) (6,540)
Additional paid-in capital 223,593 220,513
Retained loss (64,264) (63,691)
Total stockholders' equity 153,193 150,679
Total liabilities and stockholders' equity $ 432,723 $ 417,317