v3.26.1
Unaudited 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 $ 3,708 $ 4,462
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,551 1,054
Stock-based compensation 2,099 1,851
Provision for inventory reserve (398) 0
Amortization of debt issuance costs 36 8
Non-cash lease expense 751 1,085
Loss on sale or disposal of assets 17  
Changes in operating assets and liabilities:    
Contract and other receivables (1,819) 2,206
Costs and estimated earnings in excess of billings on uncompleted contracts 2,806 (3,567)
Inventories (598) 3,084
Prepaid expenses and other assets (111) (679)
Deferred tax assets 675 0
Accounts payable and accrued expenses (5,171) 26,799
Deferred revenues (10,880) 448
Operating lease liabilities (964) 222
Other non-current liabilities 3 0
Net cash provided by (used in) operating activities (7,295) 36,973
Cash Flows from Investing Activities:    
Capital expenditures (4,609) (25,779)
Net cash used in investing activities (4,609) (25,779)
Cash Flows from Financing Activities:    
Repayments of long-term debt (1,970) 0
Proceeds from issuance of long-term debt 0 11,333
Proceeds from exercise of stock options 73 7
Stock repurchases (2,219) (3,920)
Net cash provided by (used in) financing activities (4,116) 7,420
Net increase (decrease) in cash, cash equivalents and restricted cash (16,020) 18,614
Cash, cash equivalents and restricted cash, beginning of period 85,510 23,222
Cash, cash equivalents and restricted cash, end of period 69,490 41,836
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of amounts capitalized 618 0
Cash paid for factoring fees 1,127 2,425
Cash paid for income taxes 218 201
Cash and cash equivalents, beginning of period 85,510 23,222
Restricted cash, beginning of period 0 0
Cash and cash equivalents, end of period 67,679 36,836
Restricted cash, end of period 1,811 5,000
Cash, cash equivalents and restricted cash, end of period 69,490 41,836
Supplemental non-cash investing activities:    
Additions to capital expenditures financed with accounts payable $ 5,645 $ 1,881