Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2025

ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued Expenses and Other Current Liabilities

The Company’s accrued expenses and other current liabilities consisted of the following as of the below dates:


	Successor
	December 31, 2025		December 31, 2024
Accrued salaries, wages and related employee benefits	$	58,655	$	37,996
Accrued trade payables	32,090		4,146
Accrued operating expenses	21,718		4,869
Accrued indirect taxes	4,676		3,252
Accrued sales discounts	3,094		3,899
Current portion of contingent consideration	8,608		—
Other accrued expenses	22,785		11,879
Total accrued expenses and other current liabilities	$	151,626	$	66,041

Contingent Consideration

Contingent consideration arrangements are included as part of the purchase price of acquired companies on their respective acquisition dates. The Company estimates the fair value of contingent earn-out payments as part of the initial purchase price and records the estimated fair value of contingent consideration as a liability on the consolidated balance sheet. Changes in the estimated fair value of contingent consideration payments are included in “Selling, general and administrative expenses” in the consolidated statements of operations. During the year ended December 31, 2025 (Successor), the Company acquired contingent consideration of $9.3 million in the NV5 Acquisition and added $2.8 million related to other 2025 acquisitions. During the year ended December 31, 2025 (Successor), the Company recorded fair value re-measurements of $1.5 million that increased the liability. Accordingly, as of December 31, 2025, the Company had $13.6 million of contingent consideration recorded on the consolidated balance sheet, including $8.6 million reflected as current. As of December 31, 2024, the Company did not have any contingent consideration.