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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The following is a summary of changes in the carrying value of Goodwill by segment (in thousands):
Carrying value of Goodwill | Engineering & Consulting |  | Installation & Maintenance |  | Total
Balance, December 31, 2023 | $ | 327,950 |  |  | $ | 348,084 |  |  | $ | 676,034 |
Acquisitions | 124,784 |  |  | — |  |  | 124,784 |
Measurement period adjustments | (1,853) |  |  | 33 |  |  | (1,820) |
Impairment | (17,804) |  |  | — |  |  | (17,804) |
Balance, December 31, 2024 | 433,077 |  |  | 348,117 |  |  | 781,194 |
Acquisitions | 3,139 |  |  | 3,232 |  |  | 6,371 |
Measurement period adjustments | 1,737 |  |  | — |  |  | 1,737 |
Impairment | (24,966) |  |  | — |  |  | (24,966) |
Balance, December 31, 2025 | $ | 412,987 |  |  | $ | 351,349 |  |  | $ | 764,336 |
Accumulated goodwill impairment |  |  |  |  |
Balance, December 31, 2023 | $ | 5,051 |  |  | $ | 47,407 |  |  | $ | 52,458 |
Balance, December 31, 2024 | $ | 22,855 |  |  | $ | 47,407 |  |  | $ | 70,262 |
Balance, December 31, 2025 | $ | 47,821 |  |  | $ | 47,407 |  |  | $ | 95,228 |
During the annual impairment testing conducted on October 1, 2025, 2024 and 2023, the Company bypassed the qualitative assessment and proceeded directly to the quantitative assessment. The Company performed its annual goodwill impairment assessment for all reporting units and determined that the estimated fair value of each reporting unit exceeded its carrying amount. Subsequent to the annual goodwill impairment assessment, it was determined the carrying amount of Goodwill for one reporting unit in the Engineering & Consulting segment exceeded fair value, resulting in Goodwill impairment of $25.0 million. The impairment was primarily driven by a decline in projected cash flows due to lower customer demand, extending sales cycles and project funding uncertainty in the alternative energy industry. During the year ended December 31, 2024, it was determined the carrying amount of Goodwill for the same reporting unit in the Engineering & Consulting segment exceeded fair value, resulting in Goodwill impairment of $17.8 million. The impairment was primarily driven by a decline in projected cash flows due to lower revenue projections. Lower revenue projections primarily reflected the impact of delayed contract awards and the uncertainty that revenue will be realized for these contracts which are point-in-time revenue recognition contracts. During the year ended December 31, 2023, it was determined the carrying amount of Goodwill for a different reporting unit in the Engineering & Consulting segment exceeded fair value, resulting in Goodwill impairment of $5.1 million. The impairment was primarily driven by a decline in projected cash flows due to lower revenue projections and investments in support functions. Impairment charges are presented in Goodwill impairment on the Consolidated Statements of Operations. The Company’s identifiable intangible assets consist of the following (in thousands, except weighted-average remaining lives):
| December 31, 2025
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted-average Remaining Life (in years)
Customer relationships | $ | 658,798 |  |  | $ | (209,054) |  |  | $ | 449,744 |  |  | 8.3
Trade names | 180,428 |  |  | (80,068) |  |  | 100,360 |  |  | 5.4
Contract backlog | 1,570 |  |  | (254) |  |  | 1,316 |  |  | 1.4
| $ | 840,796 |  |  | $ | (289,376) |  |  | $ | 551,420 |  |  |
| December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted-average Remaining Life (in years)
Customer relationships | $ | 652,315 |  |  | $ | (153,262) |  |  | $ | 499,053 |  |  | 9.3
Trade names | 178,970 |  |  | (61,137) |  |  | 117,833 |  |  | 6.4
Contract backlog | 18,745 |  |  | (11,381) |  |  | 7,364 |  |  | 0.6
| $ | 850,030 |  |  | $ | (225,780) |  |  | $ | 624,250 |  |  |
The value of acquired identifiable intangibles at the applicable acquisition dates in 2025 and 2024 are $11.8 million and $87.1 million, respectively. Refer to “Note 4—Acquisitions” for further information. Future amortization of intangible assets as of December 31, 2025 was as follows (in thousands):
Year ending December 31: |
2026 | $ | 78,407 |
2027 | 74,063 |
2028 | 73,763 |
2029 | 73,737 |
2030 | 72,475 |
Thereafter | 178,975 |
| $ | 551,420 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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