Concentration of Risk and Enterprise-Wide Disclosures

3 Months Ended

Mar. 31, 2026

Risks and Uncertainties [Abstract]

Concentration of Risk and Enterprise Wide Disclosures

5.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 March 31, 2026 and December 31, 2025, respectively:

	March 31, 2026				December 31, 2025
Federal Government(1)	$	19,882	10	%	$	51,057	23	%
State Governments(1)		21,436	11	%		14,008	6	%
Local Governments(1)		28,398	14	%		23,453	10	%
Private Companies		128,341	65	%		139,832	61	%
Gross receivables		198,057	100	%		228,350	100	%
Allowance for credit losses		(3,443)				(3,461)
Net receivables	$	194,614			$	224,889

(1) Receivables from federal, state and local governments include sales from contracts for which the Company is the prime contractor, as well as those for which the Company is a subcontractor and the ultimate customer is the federal, state and local governments.

At March 31, 2026, no single customer exceeded 10% of total current receivables. At December 31, 2025, the United States Navy, which is included in the Federal Government category and a customer in the Private Companies category, accounted for 20% and 12%, respectively, of total current receivables.