v3.25.2
Reportable Segments (Tables)
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Schedule of Financial Information of Reportable Segments The following tables set forth summarized financial information concerning our reportable segments:
Three Months Ended
June 28, 2025
INFBTSGEOTotal
Gross revenues$101,425 $75,455 $75,104 $251,984 
Less:
Direct Labor31,637 19,131 13,675 64,443 
Indirect Labor16,319 14,809 13,010 44,138 
Sub-consultant services13,420 15,964 17,750 47,134 
Other direct costs(1)
4,816 1,737 7,163 13,716 
General and administrative expense6,715 4,014 2,806 13,535 
Depreciation1,015 374 560 1,949 
Other segment items(2)
11,033 7,102 6,663 24,798 
Total segment income before taxes$16,470 $12,324 $13,477 $42,271 
(1) Other direct costs include depreciation expense of $1,907 for the three months ended June 28, 2025.
(2) Other segment items include facilities and facilities related expenses, payroll taxes and benefits expense, and bonus expense.
Three Months Ended
June 29, 2024
INFBTSGEOTotal
Gross revenues$100,845 $63,607 $66,854 $231,306 
Less:
Direct Labor30,139 16,890 14,361 61,390 
Indirect Labor13,657 12,355 13,343 39,355 
Sub-consultant services15,400 12,455 7,948 35,803 
Other direct costs(1)
6,512 1,269 6,542 14,323 
General and administrative expense6,985 3,545 3,666 14,196 
Depreciation878 326 801 2,005 
Other segment items(2)
10,194 6,385 6,885 23,464 
Total segment income before taxes$17,080 $10,382 $13,308 $40,770 
(1) Other direct costs include depreciation expense of $1,524 for the three months ended June 29, 2024.
(2) Other segment items include facilities and facilities related expenses, payroll taxes and benefits expense, and bonus expense.
Three Months Ended
Reconciliation of segment income before taxesJune 28, 2025June 29, 2024
Total segment income before taxes$42,271 $40,770 
Corporate(1)
(29,112)(36,550)
Total income before taxes$13,159 $4,220 
(1) Includes amortization of intangibles, acquisition and integration expenses, interest expense, as well as other costs not allocated to reportable segments. Amortization of intangibles was $12,299 and $13,140 for the three months ended June 28, 2025 and June 29, 2024, respectively.
Three Months Ended
Reconciliation of other segment disclosuresJune 28, 2025June 29, 2024
Depreciation
Total segment depreciation$3,856 $3,529 
Corporate627 496 
Total depreciation$4,483 $4,025 
Six Months Ended
June 28, 2025
INFBTSGEOTotal
Gross revenues$202,261 $145,649 $138,120 $486,030 
Less:
Direct Labor60,332 36,916 26,441 123,689 
Indirect Labor32,469 28,384 26,161 87,014 
Sub-consultant services28,890 30,293 27,109 86,292 
Other direct costs(1)
9,876 3,104 13,175 26,155 
General and administrative expense13,680 7,873 6,760 28,313 
Depreciation2,049 733 1,150 3,932 
Other segment items(2)
21,892 14,265 13,987 50,144 
Total segment income before taxes$33,073 $24,081 $23,337 $80,491 
(1) Other direct costs include depreciation expense of $3,665 for the six months ended June 28, 2025.
(2) Other segment items include facilities and facilities related expenses, payroll taxes and benefits expense, and bonus expense.
Six Months Ended
June 29, 2024
INFBTSGEOTotal
Gross revenues$191,096 $123,582 $129,186 $443,864 
Less:
Direct Labor57,029 32,277 28,539 117,845 
Indirect Labor26,536 23,795 26,177 76,508 
Sub-consultant services28,639 23,232 15,544 67,415 
Other direct costs(1)
11,646 3,503 11,925 27,074 
General and administrative expense13,468 7,189 7,805 28,462 
Depreciation1,699 635 1,594 3,928 
Other segment items(2)
19,958 12,469 14,669 47,096 
Total segment income before taxes$32,121 $20,482 $22,933 $75,536 
(1) Other direct costs include depreciation expense of $3,085 for the six months ended June 29, 2024.
(2) Other segment items include facilities and facilities related expenses, payroll taxes and benefits expense, and bonus expense.
Six Months Ended
Reconciliation of segment income before taxesJune 28, 2025June 29, 2024
Total segment income before taxes$80,491 $75,536 
Corporate(1)
(66,502)(71,206)
Total income before taxes$13,989 $4,330 
(1) Includes amortization of intangibles, acquisition and integration expenses, interest expense, as well as other costs not allocated to reportable segments. Amortization of intangibles was $25,123 and $24,580 for the six months ended June 28, 2025 and June 29, 2024, respectively.
Six Months Ended
Reconciliation of other segment disclosuresJune 28, 2025June 29, 2024
Depreciation
Total segment depreciation$7,597 $7,013 
Corporate1,439 935 
Total depreciation$9,036 $7,948 
June 28, 2025December 28, 2024
Assets
INF$290,330 $298,967 
BTS286,387 271,351 
GEO593,715 614,925 
Corporate(1)
134,947 130,113 
Total assets$1,305,379 $1,315,356 
(1) Corporate assets consist of certain intercompany eliminations and assets not allocated to segments including cash and cash equivalents, right-of-use lease assets, and certain other assets.
Substantially all of the Company's assets are located in the United States.
Schedule of Revenue From Contracts with Customers by Geographic Location Gross revenue, classified by the major geographic areas in which the Company's customers were located, were as follows:
Three Months Ended June 28, 2025Six Months Ended June 28, 2025
INFBTSGEOTotalINFBTSGEOTotal
United States$101,425 $53,829 $71,024 $226,278 $202,261 $102,654 $128,354 $433,269 
Foreign— 21,626 4,080 25,706 — 42,995 9,766 52,761 
Total gross revenues$101,425 $75,455 $75,104 $251,984 $202,261 $145,649 $138,120 $486,030 
Three Months Ended June 29, 2024Six Months Ended June 29, 2024
INFBTSGEOTotalINFBTSGEOTotal
United States$100,845 $48,606 $62,956 $212,407 $191,096 $95,979 $121,486 $408,561 
Foreign— 15,001 3,898 18,899 — 27,603 7,700 35,303 
Total gross revenues$100,845 $63,607 $66,854 $231,306 $191,096 $123,582 $129,186 $443,864 
Schedule of Revenue by Customer Type
Gross revenue by customer were as follows:
Three Months Ended June 28, 2025Six Months Ended June 28, 2025
INFBTSGEOTotalINFBTSGEOTotal
Public and quasi-public sector$73,151 $18,861 $57,268 $149,280 $147,081 $36,345 $104,256 $287,682 
Private sector28,274 56,594 17,836 102,704 55,180 109,304 33,864 198,348 
Total gross revenues$101,425 $75,455 $75,104 $251,984 $202,261 $145,649 $138,120 $486,030 
Three Months Ended June 29, 2024Six Months Ended June 29, 2024
INFBTSGEOTotalINFBTSGEOTotal
Public and quasi-public sector$75,628 $14,806 $54,778 $145,212 $142,519 $29,865 $104,859 $277,243 
Private sector25,217 48,801 12,076 86,094 48,577 93,717 24,327 166,621 
Total gross revenues$100,845 $63,607 $66,854 $231,306 $191,096 $123,582 $129,186 $443,864 
Schedule of Revenue by Contract Type
Gross revenues by contract type were as follows:
Three Months Ended June 28, 2025Six Months Ended June 28, 2025
INFBTSGEOTotalINFBTSGEOTotal
Cost-reimbursable contracts$94,988 $52,397 $70,942 $218,327 $190,278 $103,269 $131,966 $425,513 
Fixed-unit price contracts6,437 23,058 4,162 33,657 11,983 42,380 6,154 60,517 
Total gross revenues$101,425 $75,455 $75,104 $251,984 $202,261 $145,649 $138,120 $486,030 
Three Months Ended June 29, 2024Six Months Ended June 29, 2024
INFBTSGEOTotalINFBTSGEOTotal
Cost-reimbursable contracts$96,738 $46,778 $63,579 $207,095 $183,167 $92,511 $124,343 $400,021 
Fixed-unit price contracts4,107 16,829 3,275 24,211 7,929 31,071 4,843 43,843 
Total gross revenues$100,845 $63,607 $66,854 $231,306 $191,096 $123,582 $129,186 $443,864