v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Cash and cash equivalents $ 308,634 [1] $ 89,456
Current restricted cash 39,444 84,991
Accounts receivable – trade, net of allowance for credit losses of $2.0 million and $2.1 million as of June 30, 2026 and December 31, 2025, respectively 170,743 118,383
Contracts in progress 90,620 72,808
Inventories, net 60,978 60,880
Customer contract asset current 11,546 8,268
Other current assets 43,476 35,890
Total current assets 725,441 470,676
Net property, plant and equipment and finance leases 74,757 65,533
Goodwill 52,111 53,097
Intangible assets, net 13,367 15,267
Right-of-use assets 16,514 17,651
Long-term restricted cash 34,752 26,913
Deferred tax assets 911 945
Customer contract asset noncurrent 56,848 0
Other assets 24,902 12,856
Total assets 999,603 662,938
Accounts payable 169,609 69,192
Accrued employee benefits 10,252 4,575
Advance billings on contracts 81,502 111,987
Accrued warranty expense 3,933 3,584
Financing lease liabilities 2,040 1,894
Operating lease liabilities 3,598 3,819
Customer warrants 136,921 8,268
Other accrued liabilities 30,922 32,129
Current senior notes 61,369 83,873
Current borrowings 151 67,373
Total current liabilities 500,297 386,694
Borrowings, net of current portion 67,416 18,865
Senior Notes due 2030 147,907 150,970
Pension and other postretirement benefit liabilities 167,694 176,191
Finance lease liabilities, net of current portion 25,782 26,742
Operating lease liabilities, net of current portion 14,025 15,125
Deferred tax liability 10,452 10,666
Other noncurrent liabilities 8,661 9,226
Total liabilities 942,234 794,479
Stockholders' equity (deficit):    
Preferred Stock, par value $0.01 per share, authorized shares of 20,000; issued and outstanding shares of 7,669 at June 30, 2026 and December 31, 2025 77 77
Common stock, par value $0.01 per share, authorized shares of 500,000; issued and outstanding shares of 148,962 and 130,447 at June 30, 2026 and December 31, 2025, respectively 5,818 5,569
Capital in excess of par value 1,964,942 1,691,412
Treasury stock at cost, 3,534 and 2,690 shares at June 30, 2026 and December 31, 2025, respectively (128,867) (115,886)
Accumulated deficit (1,766,855) (1,696,735)
Accumulated other comprehensive loss (17,746) (15,978)
Total stockholders' equity (deficit) 57,369 (131,541)
Total liabilities and stockholders' equity (deficit) $ 999,603 $ 662,938
[1]
(1) Includes cash held at discontinued operations of $1.7 million at June 30, 2025.