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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 9,818 $ 44,930
Restricted cash 65 65
Accounts receivable (net of allowance for credit losses of $410 and $387 as of September 30, 2025 and December 31, 2024, respectively) 142,466 119,659
Contract assets 52,672 47,549
Income tax receivable 44 0
Other current assets 11,754 8,131
Total current assets 216,819 220,334
Property and equipment, net 45,938 30,126
Intangible assets, net 51,495 41,228
Goodwill 69,745 33,034
Operating lease right-of-use assets 20,758 21,539
Deferred tax asset 4,057 5,531
Other assets 305 337
Total assets 409,117 352,129
Current liabilities:    
Current portion of long-term debt 5,255 3,314
Current operating lease liabilities 4,284 4,093
Accounts payable, including retainage 65,912 60,814
Contract liabilities 37,272 44,519
Accrued income taxes 0 1,470
Accrued expenses and other current liabilities 38,507 36,827
Total current liabilities 151,230 151,037
Long-term debt 56,275 23,554
Long-term operating lease liabilities 16,938 17,766
Other long-term liabilities 3,112 6,281
Total liabilities 227,555 198,638
Commitments and contingencies (Note 13)
STOCKHOLDERS’ EQUITY    
Common stock, $0.0001 par value; 100,000,000 shares authorized, issued 11,806,466 and 11,452,753, respectively, and 11,626,814 and 11,273,101 outstanding, respectively 1 1
Additional paid-in capital 95,536 94,229
Treasury stock, at cost (179,652 shares at both period ends) (2,000) (2,000)
Retained earnings 88,025 61,261
Total stockholders’ equity 181,562 153,491
Total liabilities and stockholders’ equity $ 409,117 $ 352,129