v3.26.1
Revenue from Contracts with Customers (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue

Revenue consisted of the following (in thousands):

 

 

 

Successor - AIAI

 

 

Predecessor - CCCI

 

 

 

Period from May 7, 2026 through June 30, 2026

 

 

Period from April 1, 2026 through May 6, 2026

 

 

Period from January 1, 2026 through May 6, 2026

 

 

Three Months Ended June 30, 2025

 

 

Six Months Ended June 30, 2025

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Public sector

 

$

21,439

 

 

$

16,195

 

 

$

64,003

 

 

$

46,345

 

 

$

94,717

 

Private sector

 

 

14,535

 

 

 

3,011

 

 

 

14,072

 

 

 

18,835

 

 

 

32,854

 

Healthcare

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Public sector

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Private sector

 

 

1,173

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Technology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Public sector

 

 

788

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Private sector

 

 

1,142

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

39,077

 

 

$

19,206

 

 

$

78,075

 

 

$

65,180

 

 

$

127,571

 
Summary of Company Expects to Recognize Revenue on Remaining Performance Obligations The Company expects to recognize revenue on these remaining performance obligations as follows (in thousands):

 

 

 

 

Amount

 

Within 12 months

 

$

186,067

 

13 to 24 months

 

 

326

 

Beyond 24 months

 

 

437

 

Total

 

$

186,830

 
Summary of Contract Assets And Liabilities Associated With Uncompleted Contracts

As of June 30, 2026 (Successor), and December 31, 2025 (Predecessor), the contract assets and liabilities associated with uncompleted contracts are summarized as follows (in thousands):

 

 

 

Successor - AIAI
June 30, 2026

 

 

Predecessor - CCCI
December 31, 2025

 

Contract assets classified as:

 

 

 

 

 

 

Costs and estimated earnings in excess of billings on contracts in progress

 

$

27,297

 

 

$

2,738

 

Retainage receivable on open contracts

 

 

14,420

 

 

 

11,884

 

 

 

$

41,717

 

 

$

14,622

 

Contract liabilities – current classified as:

 

 

 

 

 

 

Billings in excess of costs and estimated earnings on contracts in progress

 

$

3,100

 

 

$

2,819

 

Retainage payable on open contracts

 

 

7,777

 

 

 

3,547

 

 

 

$

10,877

 

 

$

6,366

 

Contract liabilities – non-current classified as:

 

 

 

 

 

 

Billings in excess of costs and estimated earnings on contracts in progress

 

$

764

 

 

$

—