v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 52,713 $ 72,185
Restricted cash 14,755 15,376
Accounts receivable, net 167,786 179,320
Retainage receivables 101,779 112,264
Contract assets 366,607 483,181
Other current assets 30,326 19,326
Total current assets 733,966 881,652
Property and equipment, net 107,305 116,328
Right-of-use assets 10,524 14,897
Investments - unconsolidated entities 129,696 126,705
Investments - limited liability companies 2,323 2,590
Investments - private equity 2,588 2,699
Deferred tax asset 3 54,531
Goodwill 1,528 1,528
Intangible assets, net 1,180 1,180
Other noncurrent assets 167 1,539
Total noncurrent assets 255,314 321,997
Total assets 989,280 1,203,649
Current liabilities    
Accounts payable 224,915 191,670
Retainage payable 36,977 33,622
Accrued liabilities 80,011 91,515
Current portion of long-term debt 53,731 44,525
Short-term lease liabilities 6,808 10,104
Contract liabilities 252,543 249,706
Total current liabilities 654,985 621,142
Long-term debt 203,971 255,625
Long-term lease liabilities 16,403 10,791
Deferred tax liabilities 3,032 292
Financing obligations, net 41,440 41,468
Long-term accrued liabilities 58,075 58,075
Other noncurrent liabilities 143,880 40,847
Total long-term liabilities 466,801 407,098
Total liabilities 1,121,786 1,028,240
Commitment and contingencies (Note 17)
Stockholders' equity (deficit)    
Preferred stock, $0.0001 par value, authorized 50,000,000 shares, none issued and outstanding as of December 31, 2025 and December 31, 2024
Common stock, $0.0001 par value, authorized 500,000,000 shares, 54,113,036 and 53,936,411 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 5 5
Additional paid-in-capital 293,237 292,173
Accumulated deficit (431,158) (124,618)
Accumulated other comprehensive loss (3,018) (3,902)
Total stockholders' equity (deficit) (140,934) 163,658
Noncontrolling interest 8,428 11,751
Total equity (deficit) (132,506) 175,409
Total liabilities and equity $ 989,280 $ 1,203,649