CUSTOMER CONCENTRATIONS

3 Months Ended

Apr. 30, 2025

CUSTOMER CONCENTRATIONS

CUSTOMER CONCENTRATIONS

NOTE 14 – CUSTOMER CONCENTRATIONS

The majority of the Company’s consolidated revenues relate to performance by the power industry services segment. The following schedule presents the percentage of consolidated revenues for each reportable business segment for the respective periods:

	Three Months Ended April 30,
	2025			2024
Power industry services		82.8	%		69.9	%
Industrial construction services		15.1			27.7
Telecommunications infrastructure services		2.1			2.4

The Company’s most significant customer relationships for the three months ended April 30, 2025 included two power industry services customers, which accounted for 30% and 25% of consolidated revenues. The Company’s most significant customer relationships for the three months ended April 30, 2024 included two power industry services customers, which accounted for 28% and 11% of consolidated revenues.

The accounts receivable balances from three major customers represented 26%, 23%, and 15% of the corresponding consolidated balance as of April 30, 2025. Accounts receivable balances from four major customers represented 22%, 16%, 13%, and 10% of the corresponding consolidated balance as of January 31, 2025.

The contract asset balances attributable to two major customers represented 26% and 17% of the corresponding consolidated balance as of April 30, 2025, and the contract asset balances attributable to four major customers represented 26%, 15%, 15% and 13% of the corresponding consolidated balance as of January 31, 2025.