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 income $ 39,419 $ 44,130
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 50,489 39,763
Non-cash compensation expense 79,670 1,972
Loss on extinguishment of debt (non-cash portion) 6,676 0
Write off of project development costs 4,265 752
Tax receivable agreement liability adjustment (2,428) 0
Other (12) 547
Change in operating assets and liabilities (132,040) (36,328)
Net cash provided by operating activities 46,039 50,836
Cash flows from investing activities:    
Purchases of property and equipment (15,960) (5,313)
Cash paid for acquisitions, net of cash acquired 0 (55,756)
Net cash used in investing activities (15,960) (61,069)
Cash flows from financing activities:    
Issuance of Class A common stock, net of underwriting discount 844,249 0
Purchase of LLC Interests (291,706) 0
Repayment of term debt (405,203) (2,031)
Payment of deferred acquisition consideration (5,500) 0
Payment of offering costs (5,917) 0
Proceeds on debt 0 32,500
Payment of debt issuance costs (2,800) 0
Payments for finance leases (6,261) (4,226)
Proceeds on equipment financing 0 14,500
Payments on equipment financing (3,441) (3,267)
Distributions to members of SOLV Energy Holdings LLC (184,408) (71,809)
Net cash used in financing activities (60,987) (34,333)
Net decrease in cash and cash equivalents (30,908) (44,566)
Cash and cash equivalents, beginning of period 394,876 207,987
Cash and cash equivalents, end of period 363,968 163,421
Supplemental cash flow information    
Interest paid 8,861 24,204
Income taxes paid 11,978 598
Supplemental disclosure of non-cash financing activities:    
Deferred offering costs reclassified to additional paid-in capital $ 11,052 $ 0