Revenue Receivables and Contract Assets and Liabilities (Tables)

12 Months Ended

Jan. 03, 2025

Revenue from Contract with Customer [Abstract]

Summary of Company's Revenue Disaggregated by Contract Types

The following table presents the Company’s revenue disaggregated by contract types:

	Fiscal Year Ended
	January 3,		December 29,
(In thousands)	2025		2023
Fixed-price	$	442,243	$	567,224
Cost reimbursable		36,070		57,063
Equipment and labor		1,923		8,519
Total revenue	$	480,236	$	632,806

Projects started after prior ownership ("Shimmick Projects") have focused on water infrastructure and other critical infrastructure. Projects that started under prior ownership are referred to as "Legacy Projects". Projects that focus on foundation drilling are referred to as "Foundations Projects".

The following table presents the Company’s revenue disaggregated by Shimmick Projects, Foundations Projects and Legacy Projects:

	Fiscal Year Ended
	January 3,		December 29,
(In thousands)	2025		2023
Shimmick Projects	$	355,683	$	386,491
Legacy Projects		93,226		198,509
Foundations Projects		31,327		47,806
Total revenue	$	480,236	$	632,806

Summary of Information About Contract Assets and Contract Liabilities

The following table provides information about contract assets (also referred to as costs and estimated earnings in excess of billings on uncompleted contracts and retainage receivable) and contract liabilities (also referred to as billings on uncompleted contracts in excess of costs and estimated earnings and forward loss reserve), which include assets and liabilities that are dependent upon future activity:

	January 3,			December 29,
	2025			2023			Change
(In thousands)
Contract assets, current and non-current:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	46,603		$	125,943		$	(79,340	)
Retainage receivable		23,517			48,316			(24,799	)
Total contract assets		70,120			174,259			(104,139	)
Contract liabilities, current and non-current:
Billings on uncompleted contracts in excess of costs and estimated earnings		(50,490	)		(48,841	)		(1,649	)
Forward loss reserve		(52,147	)		(70,159	)		18,012
Total contract liabilities		(102,637	)		(119,000	)		16,363
Net	$	(32,517	)	$	55,259		$	(87,776	)

Summary of Unconditional Right to Cash from Clients

The Company’s accounts receivable represents amounts billed to clients that have yet to be collected and represent an unconditional right to cash from its clients as presented below.

	January 3,			December 29,
	2025			2023
(In thousands)
Total accounts receivable, gross	$	43,942		$	55,202
Allowance for doubtful accounts		(954	)		(1,024	)
Accounts receivable, net	$	42,988		$	54,178

Summary of Information About Significant Customers

Information about significant customers

Significant Customers as a Percentage of Accounts Receivable, Net
As of January 3, 2025
Customer one	40.6%
Customer two	20.2%
As of December 29, 2023
Customer one	32.5%
Customer two	21.7%

Significant Customers as a Percentage of Revenue
Fiscal Year Ended January 3, 2025
Customer one	17.1%
Customer two	15.4%
Customer three	10.2%
Customer four	10.1%
Fiscal Year Ended December 29, 2023
Customer one	16.7%
Customer two	14.5%
Customer three	12.9%