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SUPPLEMENTAL FINANCIAL STATEMENT DATA

3 Months Ended

Apr. 04, 2025

SUPPLEMENTAL FINANCIAL STATEMENT DATA

4. SUPPLEMENTAL FINANCIAL STATEMENT DATA

Restricted Cash

The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows:


	April 4,		December 27,
	2025		2024
	(in thousands)
Cash and cash equivalents	$	38,364	$	74,158
Restricted cash		—		—
Total cash, cash equivalents, and restricted cash shown in the consolidated statement of cash flows	$	38,364	$	74,158

Under certain utility contracts, the Company periodically receives cash deposits to be held in trust for the payment of energy incentive rebates to be sent directly to the utility’s end-customer on behalf of the utility. The Company acts solely as the utility’s agent to distribute these funds to the end-customer and, accordingly, the Company classifies these contractually restricted funds as restricted cash. Because these funds are held in trust for pass through to the utility’s customers and have no impact on the Company’s working capital or operating cash flows, these cash receipts are presented in the condensed consolidated statement of cash flows as financing cash inflows, “Receipt of restricted cash”, with the subsequent payments classified as financing cash outflows, “Payment of restricted cash.”

Equipment and Leasehold Improvements


	April 4,		December 27,
	2025		2024
	(in thousands)
Furniture and fixtures	$	4,594	$	4,594
Computer hardware and software		54,139		51,904
Leasehold improvements		3,877		3,804
Equipment under finance leases		7,251		7,052
Automobiles, trucks, and field equipment		3,657		3,608
Subtotal		73,518		70,962
Accumulated depreciation and amortization		(43,044)		(41,428)
Equipment and leasehold improvements, net	$	30,474	$	29,534

Included in accumulated depreciation and amortization is $0.4 million and $1.5 million of amortization expense related to equipment held under finance leases for the three months ended April 4, 2025 and for fiscal year 2024, respectively.

Accrued Liabilities


	April 4,		December 27,
	2025		2024
	(in thousands)
Accrued subcontractor costs	$	23,206	$	33,061
Accrued bonuses		6,925		18,277
Employee withholdings		2,500		3,664
Compensation and payroll taxes		3,452		3,564
Rebate and other		—		360
Accrued accounting costs and taxes		3,290		3,850
Total accrued liabilities	$	39,373	$	62,776

Goodwill


	December 27,		Additional		Additions /		April 4,
	2024		Purchase Cost		Adjustments		2025
	(in thousands)
Reporting Unit:
Energy	$	139,222	$	25,438	$	—	$	164,660
Engineering and Consulting		1,769		7,493		—		9,262
	$	140,991	$	32,931	$	—	$	173,922

The Company tests its goodwill at least annually for possible impairment. The Company completes its annual testing of goodwill as of the last day of the first month of its fourth fiscal quarter each year to determine whether there is a potential impairment. In addition to the Company’s annual test, it regularly evaluates whether events and circumstances have occurred that may indicate a potential impairment of goodwill. The Company evaluated the current economic environment and noted that it does not believe it is more likely than not that goodwill was impaired as of April 4, 2025.

Intangible Assets


	April 4, 2025				December 27, 2024
	Gross		Accumulated		Gross		Accumulated		Amortization
	Amount		Amortization		Amount		Amortization		Period
	(in thousands)								(in years)
Finite:
Backlog	$	11,303	$	8,550	$	8,882	$	8,350	1.0
Tradename		20,414		13,688		16,123		13,196	2.5	-	6.0
Non-compete agreements		1,613		1,500		1,613		1,488	4.0	-	5.0
Developed technology		15,810		15,450		15,810		15,286	8.0
Customer relationships		70,813		38,347		62,041		36,735	5.0	-	12.0
Total intangible assets	$	119,953	$	77,535	$	104,469	$	75,055