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Costs and Estimated Earnings on Uncompleted Contracts
 9 Months Ended
Sep. 30, 2025
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]  
Costs and Estimated Earnings on Uncompleted Contracts 4.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

The Company’s costs and estimated earnings on uncompleted contracts are comprised of the following:

As of

As of

September 30, 2025

December 31, 2024

(in thousands)

Costs incurred on uncompleted contracts

$

139,461

$

74,474

Estimated earnings

51,207

31,514

Billings to date

(146,192)

(92,082)

$

44,476

$

13,906


‎

These amounts are included in the Consolidated Balance Sheets under the following captions:

As of

As of

September 30, 2025

December 31, 2024

(in thousands)

Costs and estimated earnings in excess of billings on uncompleted contracts

$

49,564

$

19,198

Billings in excess of costs and estimated earnings on

uncompleted contracts (included in Other current liabilities)

(5,088)

(5,292)

$

44,476

$

13,906

At September 30, 2025 and December 31, 2024, the two largest customers comprised 97.1% and 89.0%, respectively, of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings on uncompleted contracts.