v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 11,481,036 $ 6,641,745
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 5,702,410 5,071,341
Amortization of debt issuance costs 130,328 0
Amortization of other intangible assets 3,567,348 1,527,500
(Gain) on disposal of property and equipment (2,397) (110,945)
Noncash stock compensation 191,852 0
(Earnings) from investments in unconsolidated affiliates 0 (47,204)
Provision for deferred income taxes 1,031,051 0
Changes in operating assets and liabilities:    
Accounts receivable, net (18,417,868) 3,429,615
Contract assets (19,716,683) (1,273,858)
Prepaid expenses 642,344 (201,690)
Other assets 249,389 (1,596,519)
Accounts payable 22,586,565 789,417
Accrued expenses 3,902,484 (517,531)
Contract liabilities (2,053,018) (1,619,189)
Other liabilities 22,178 0
Net cash provided by operating activities 9,317,019 12,092,682
Cash flows from investing activities:    
Proceeds from the sale of property and equipment 56,214 144,011
Purchases of property and equipment (9,317,980) (10,372,126)
Acquisitions, net of cash acquired (125,532,857) (13,992,969)
Net cash used in investing activities (134,794,623) (24,221,084)
Cash flows from financing activities:    
Proceeds from notes payable 80,000,000 21,736,705
Principal payments on notes payable (2,545,308) (4,280,528)
Payment of debt issuance costs (838,501) 0
Principal payments on finance lease obligations (538,528) (599,006)
Payments of deferred consideration (3,766,617) 0
Member distributions 0 (2,865,337)
Net cash provided by financing activities 72,311,046 13,991,834
Net change in cash (53,166,558) 1,863,432
Cash    
Beginning of period 97,149,425 20,917,108
End of period 43,982,867 22,780,540
Supplemental non-cash investing and financing activities:    
Purchases of property and equipment acquired through acquisitions 36,382,739 5,080,000
Purchases of property and equipment financed with finance leases 547,954 723,438
Right-of-use assets recognized with operating leases 11,767,913 1,495,491
Unfavorable lease fair value adjustment recognized on acquisition 1,380,000 0
(Decrease) in accrued and unpaid member distributions 0 (67,401)
Increase in deferred acquisition consideration payable 0 937,500
Unrealized cash flow hedge losses (526,177) 0
Fair value of contingent consideration liabilities - Tax Benefit Agreement and Tax Receivable Agreement 15,254,000 0
Rollover equity issued as consideration for acquisitions 0 2,800,000
Class A Stock    
Supplemental non-cash investing and financing activities:    
Stock issued as consideration for acquisition 8,489,557 0
Class B Equity and LLC Units    
Supplemental non-cash investing and financing activities:    
Stock issued as consideration for acquisition $ 102,809,682 $ 0