| DISAGGREGATION OF REVENUE |
6. DISAGGREGATION OF REVENUE The Company disaggregates revenue based on the following lines of service: (1) Gas & Water Distribution, (2) Gas & Petroleum Transmission, and (3) Electrical, Mechanical, & General services and construction. Our contract types are: Lump Sum, Unit Price, Cost Plus and T&M. The following tables present our disaggregated revenue for the three and six months ended March 31, 2026 and 2025: | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | | | | | | Electrical, | | | | | Gas & Water | | Gas & Petroleum | | Mechanical, & | | Total revenue | | | Distribution | | Transmission | | General | | from contracts | Lump sum contracts | | $ | — | | $ | — | | $ | 34,054,782 | | $ | 34,054,782 | Unit price contracts | | | 31,337,808 | | | 2,640,547 | | | 972,913 | | | 34,951,268 | Cost plus and T&M contracts | | | — | | | 8,382,045 | | | 15,785,347 | | | 24,167,392 | Total revenue from contracts | | $ | 31,337,808 | | $ | 11,022,592 | | $ | 50,813,042 | | $ | 93,173,442 | | | | | | | | | | | | | | Earned over time | | $ | 10,528,750 | | $ | 2,640,547 | | $ | 39,470,809 | | $ | 52,640,106 | Earned at point in time | | | 20,809,058 | | | 8,382,045 | | | 11,342,233 | | | 40,533,336 | Total revenue from contracts | | $ | 31,337,808 | | $ | 11,022,592 | | $ | 50,813,042 | | $ | 93,173,442 |
| | | | | | | | | | | | | | | Six Months Ended March 31, 2026 | | | | | | | | | Electrical, | | | | | | Gas & Water | | Gas & Petroleum | | Mechanical, & | | Total revenue | | | Distribution | | Transmission | | General | | from contracts | Lump sum contracts | | $ | — | | $ | — | | $ | 67,337,635 | | $ | 67,337,635 | Unit price contracts | | | 71,948,076 | | | 3,496,750 | | | 1,738,163 | | | 77,182,989 | Cost plus and T&M contracts | | | — | | | 31,652,066 | | | 31,112,952 | | | 62,765,018 | Total revenue from contracts | | $ | 71,948,076 | | $ | 35,148,816 | | $ | 100,188,750 | | $ | 207,285,642 | | | | | | | | | | | | | | Earned over time | | $ | 33,206,006 | | $ | 3,496,750 | | $ | 75,141,720 | | $ | 111,844,476 | Earned at point in time | | | 38,742,070 | | | 31,652,066 | | | 25,047,030 | | | 95,441,166 | Total revenue from contracts | | $ | 71,948,076 | | $ | 35,148,816 | | $ | 100,188,750 | | $ | 207,285,642 |
| | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | | | | | | Electrical, | | | | | Gas & Water | | Gas & Petroleum | | Mechanical, & | | Total revenue | | | Distribution | | Transmission | | General | | from contracts | Lump sum contracts | | $ | — | | $ | — | | $ | 34,195,376 | | $ | 34,195,376 | Unit price contracts | | | 27,101,115 | | | 3,116,781 | | | 970,926 | | | 31,188,822 | Cost plus and T&M contracts | | | — | | | 278,277 | | | 11,016,676 | | | 11,294,953 | Total revenue from contracts | | $ | 27,101,115 | | $ | 3,395,058 | | $ | 46,182,978 | | $ | 76,679,151 | | | | | | | | | | | | | | Earned over time | | $ | 18,473,790 | | $ | 3,116,781 | | $ | 35,811,712 | | $ | 57,402,283 | Earned at point in time | | | 8,627,325 | | | 278,277 | | | 10,371,266 | | | 19,276,868 | Total revenue from contracts | | $ | 27,101,115 | | $ | 3,395,058 | | $ | 46,182,978 | | $ | 76,679,151 |
| | | | | | | | | | | | | | | Six Months Ended March 31, 2025 | | | | | | | Electrical, | | | | | | Gas &Water | | Gas & Petroleum | | Mechanical, & | | Total revenue | | | Distribution | | Transmission | | General | | from contracts | Lump sum contracts | | $ | — | | $ | — | | $ | 71,929,199 | | $ | 71,929,199 | Unit price contracts | | | 58,401,124 | | | 21,535,098 | | | 1,964,321 | | | 81,900,543 | Cost plus and T&M contracts | | | — | | | 316,177 | | | 23,179,346 | | | 23,495,523 | Total revenue from contracts | | $ | 58,401,124 | | $ | 21,851,275 | | $ | 97,072,866 | | $ | 177,325,265 | | | | | | | | | | | | | | Earned over time | | $ | 37,960,995 | | $ | 21,535,098 | | $ | 74,493,813 | | $ | 133,989,906 | Earned at point in time | | | 20,440,129 | | | 316,177 | | | 22,579,053 | | | 43,335,359 | Total revenue from contracts | | $ | 58,401,124 | | $ | 21,851,275 | | $ | 97,072,866 | | $ | 177,325,265 |
The Company’s disaggregated revenue does vary slightly from the Company’s segment reporting due to combining the Industrial and Building Construction into Electrical, Mechanical, & and General, and one legal entity in the Underground Infrastructure Construction segment that performs services other than underground construction that are included in Electrical, Mechanical, & General. The volume of these services is not material to the Company’s segment reporting.
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