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PERFORMANCE OBLIGATIONS
9 Months Ended
Jun. 30, 2026
PERFORMANCE OBLIGATIONS  
PERFORMANCE OBLIGATIONS

8.  PERFORMANCE OBLIGATIONS

For the three and nine months ended June 30, 2026, there was no significant revenue recognized as a result of changes in contract transaction price related to performance obligations that were satisfied prior to September 30, 2025. Changes in contract transaction price can result from items such as executed or estimated change orders, and unresolved contract modifications and claims.

At June 30, 2026, the Company had approximately $216.6 million of transaction price allocated to remaining performance obligations associated with specifically identified projects under contract. Management expects approximately $200.0 million of this amount to be recognized as revenue over the next twelve months, with the remainder expected to be recognized thereafter.

The amount disclosed above excludes approximately $70.0 million of estimated recurring maintenance and blanket contract work expected to be performed over the next twelve months, including qualifying arrangements for which the Company recognizes revenue using the right to invoice practical expedient. These amounts are included in the Company’s backlog but are excluded from the disclosure of remaining performance obligations when the applicable practical expedient or other ASC 606 exclusion applies.