Concentration of Risk and Enterprise-Wide Disclosures

9 Months Ended

Sep. 30, 2025

Risks and Uncertainties [Abstract]

Concentration of Risk and Enterprise Wide Disclosures

4.Concentration of Risk and Enterprise-Wide Disclosures

Accounts receivable include amounts billed to governmental agencies and private customers and do not bear interest. Balances billed to customers but not paid pursuant to retainage provisions generally become payable upon contract completion and acceptance by the owner.

The table below presents the concentrations of current receivables (trade and retainage) at September 30, 2025 and December 31, 2024, respectively:

	September 30, 2025				December 31, 2024
Federal Government	$	55,772	26	%	$	19,874	14	%
State Governments		18,470	9	%		9,553	7	%
Local Governments		35,607	16	%		24,641	17	%
Private Companies		106,412	49	%		88,424	62	%
Gross receivables		216,261	100	%		142,492	100	%
Allowance for credit losses		(3,005)				(555)
Net receivables	$	213,256			$	141,937

At September 30, 2025, the United States Navy, which is included in the Federal Government category, accounted for 25% of total current receivables. At December 31, 2024, the United States Navy, accounted for 11% of total current receivables.