v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (115,326) $ (12,676)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 11,081 11,901
Amortization of deferred financing costs 942 916
Bad debt expense 3,173  
Deferred taxes (1,698) (50)
Share based compensation 815 692
Gain on sale of assets (6,066) (1,417)
Foreign currency remeasurement (gain) loss 73 (73)
Loss (earnings) from equity method investments 659 (1,503)
Gain on trading securities, net (215) (76)
Changes in assets and liabilities:    
Accounts and retainage receivables 64,489 49,131
Contract assets 94,254 (46,552)
Other current assets 3,555 (10,378)
Right-of-use assets 2,242 4,763
Accounts payable, retainage payable and accrued liabilities (170,973) 12,328
Contract liabilities (58,129) 1,222
Operating lease liabilities (2,383) (4,742)
Other 1,617 (2,490)
Net cash provided by (used in) operating activities (171,890) 996
Cash flows from investing activities:    
Purchase of property and equipment (384) (2,885)
Proceeds from sale of property and equipment 7,597 3,448
Distributions from other investments 351 195
Return of investment in limited liability company 61  
Net cash provided by investing activities 7,625 758
Cash flows from financing activities:    
Payments on notes payable (51,841) (25,150)
Payments of deferred financing costs   (295)
Payments from related parties   4
Payments to related parties (1)  
Payments on finance lease and financing obligations (1,073) (539)
Distribution to members (217)  
Payment of taxes related to net share settlement of RSUs (30) (121)
Proceeds from advancement of surety funds 195,696  
Net cash provided by (used in) financing activities 142,534 (26,101)
Effect of exchange rate on cash (14) 82
Net decrease in cash and cash equivalents and restricted cash (21,745) (24,265)
Beginning of period 67,468 87,561
End of period 45,723 63,296
Supplemental cash flow information    
Cash paid for income taxes 762 578
Cash paid for interest 12,454 18,047
Non-cash investing and financing activities:    
Lease assets obtained in exchange for new leases $ 636 10
Assets obtained in exchange for notes payable   $ 3,016