XML 25 R15.htm IDEA: XBRL DOCUMENT v3.25.2

SEGMENT AND GEOGRAPHICAL INFORMATION

6 Months Ended

Jul. 04, 2025

SEGMENT AND GEOGRAPHICAL INFORMATION

SEGMENT AND GEOGRAPHICAL INFORMATION

9. SEGMENT AND GEOGRAPHICAL INFORMATION

Segment Information

The Company’s two segments are Energy, and Engineering and Consulting, and the Company’s chief operating decision maker, which continues to be its chief executive officer, receives and reviews financial information in this format.

In accordance with ASU 2023-07, the Company’s chief operating decision maker (“CODM”) evaluates the performance of each segment based upon the information provided below.

There were no intersegment sales during the three months ended July 4, 2025 and June 28, 2024. In addition, enterprise-wide service line contract revenue is not included as it is impracticable to report this information for each group of similar services.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Engineering

​

Unallocated

​

​

​

​

Consolidated

​

Energy

& Consulting

Corporate

Intersegment

Total (1)

​

​

(in thousands)

Fiscal Three Months Ended July 4, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

146,749

​

$

26,724

​

$

-

​

$

-

​

$

173,473

Direct subcontractor services and other direct costs

​

​

76,794

​

​

1,711

​

​

-

​

​

-

​

​

78,505

Direct salaries and wages

​

​

16,176

​

​

10,467

​

​

-

​

​

-

​

​

26,643

Gross profit

​

​

53,779

​

​

14,546

​

​

-

​

​

-

​

​

68,325

Other indirect costs

​

​

35,878

​

​

9,353

​

​

5,774

​

​

-

​

​

51,005

EBITDA (2)

​

​

17,167

​

​

5,192

​

​

(4,488)

​

​

-

​

​

17,871

Interest expense, net

​

​

-

​

​

-

​

​

2,186

​

​

-

​

​

2,186

Depreciation and amortization

​

​

4,940

​

​

564

​

​

-

​

​

-

​

​

5,504

Segment profit (loss) before income tax expense

​

​

12,228

​

​

4,628

​

​

(6,675)

​

​

-

​

​

10,181

Income tax expense (benefit)

​

​

(5,861)

​

​

(2,759)

​

​

3,365

​

​

-

​

​

(5,255)

Net income (loss)

​

​

18,088

​

​

7,387

​

​

(10,039)

​

​

-

​

​

15,436

Segment assets (3)

​

​

385,271

​

​

41,207

​

​

81,503

​

​

(23,130)

​

​

484,851

Fiscal Six Months Ended July 4, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

272,997

​

$

52,862

​

$

-

​

$

-

​

$

325,859

Direct subcontractor services and other direct costs

​

​

142,874

​

​

2,679

​

​

-

​

​

-

​

​

145,553

Direct salaries and wages

​

​

32,717

​

​

21,603

​

​

-

​

​

-

​

​

54,320

Gross profit

​

​

97,406

​

​

28,580

​

​

-

​

​

-

​

​

125,986

Other indirect costs

​

​

70,426

​

​

19,629

​

​

7,135

​

​

-

​

​

97,190

EBITDA (2)

​

​

26,249

​

​

8,947

​

​

(5,890)

​

​

-

​

​

29,306

Interest expense, net

​

​

-

​

​

-

​

​

3,988

​

​

-

​

​

3,988

Depreciation and amortization

​

​

8,895

​

​

1,049

​

​

-

​

​

-

​

​

9,944

Segment profit (loss) before income tax expense

​

​

17,355

​

​

7,898

​

​

(9,879)

​

​

-

​

​

15,374

Income tax expense (benefit)

​

​

(5,361)

​

​

(2,440)

​

​

3,052

​

​

-

​

​

(4,749)

Net income (loss)

​

​

22,715

​

​

10,338

​

​

(12,930)

​

​

-

​

​

20,123

Segment assets (3)

​

​

385,271

​

​

41,207

​

​

81,503

​

​

(23,130)

​

​

484,851

​

(1) Amounts may not add to the totals due to rounding.

(2) “EBITDA” is defined as earnings before interest, taxes, depreciation and amortization.

(3) Segment assets are presented net of intercompany receivables.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Engineering

​

Unallocated

​

​

​

​

Consolidated

​

Energy

& Consulting

Corporate

Intersegment

Total (1)

​

​

(in thousands)

Fiscal Three Months Ended June 28, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

117,852

​

$

23,144

​

$

-

​

$

-

​

$

140,996

Direct subcontractor services and other direct costs

​

​

67,556

​

​

989

​

​

-

​

​

-

​

​

68,545

Direct salaries and wages

​

​

13,885

​

​

9,762

​

​

-

​

​

-

​

​

23,647

Gross profit

​

​

36,411

​

​

12,393

​

​

-

​

​

-

​

​

48,804

Other indirect costs

​

​

28,002

​

​

9,004

​

​

1,721

​

​

-

​

​

38,727

EBITDA (2)

​

​

8,624

​

​

3,387

​

​

(1,108)

​

​

-

​

​

10,903

Interest expense, net

​

​

-

​

​

-

​

​

1,960

​

​

-

​

​

1,960

Depreciation and amortization

​

​

3,227

​

​

402

​

​

-

​

​

-

​

​

3,629

Segment profit (loss) before income tax expense

​

​

5,399

​

​

2,984

​

​

(3,069)

​

​

-

​

​

5,314

Income tax expense (benefit)

​

​

709

​

​

396

​

​

(385)

​

​

-

​

​

720

Net income (loss)

​

​

4,688

​

​

2,589

​

​

(2,683)

​

​

-

​

​

4,594

Segment assets (3)

​

​

328,031

​

​

30,989

​

​

85,399

​

​

(23,130)

​

​

421,289

Fiscal Six Months Ended June 28, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

218,598

​

$

44,887

​

$

-

​

$

-

​

$

263,485

Direct subcontractor services and other direct costs

​

​

120,210

​

​

1,894

​

​

-

​

​

-

​

​

122,104

Direct salaries and wages

​

​

26,218

​

​

18,941

​

​

-

​

​

-

​

​

45,159

Gross profit

​

​

72,170

​

​

24,052

​

​

-

​

​

-

​

​

96,222

Other indirect costs

​

​

56,341

​

​

17,961

​

​

2,890

​

​

-

​

​

77,192

EBITDA (2)

​

​

16,173

​

​

6,087

​

​

(1,700)

​

​

-

​

​

20,560

Interest expense, net

​

​

1

​

​

-

​

​

4,096

​

​

-

​

​

4,097

Depreciation and amortization

​

​

6,463

​

​

758

​

​

-

​

​

-

​

​

7,221

Segment profit (loss) before income tax expense

​

​

9,710

​

​

5,328

​

​

(5,796)

​

​

-

​

​

9,242

Income tax expense (benefit)

​

​

1,792

​

​

984

​

​

(1,070)

​

​

-

​

​

1,706

Net income (loss)

​

​

7,917

​

​

4,345

​

​

(4,726)

​

​

-

​

​

7,536

Segment assets (3)

​

​

328,031

​

​

30,989

​

​

85,399

​

​

(23,130)

​

​

421,289

​

(1) Amounts may not add to the totals due to rounding.

(2) “EBITDA” is defined as earnings before interest, taxes, depreciation and amortization.

(3) Segment assets are presented net of intercompany receivables.

​

The following tables provide information about disaggregated revenue by contract type, client type and geographical region:

​

​	​	​	​	​	​	​	​	​	​
​		Three months ended July 4, 2025
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	11,733	​	$	18,899	​	$	30,632
Unit-based	​	​	58,250	​	​	6,487	​	​	64,737
Fixed price	​	​	76,766	​	​	1,338	​	​	78,104
Total (1)	​	$	146,749	​	$	26,724	​	$	173,473
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	18,093	​	$	1,755	​	$	19,848
Government	​	​	55,839	​	​	24,924	​	​	80,763
Utilities (2)	​	​	72,817	​	​	45	​	​	72,862
Total (1)	​	$	146,749	​	$	26,724	​	$	173,473
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	146,749	​	$	26,724	​	$	173,473
​	​	​	​	​	​	​	​	​	​
​		Six months ended July 4, 2025
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	23,335	​	$	36,959	​	$	60,294
Unit-based	​	​	105,957	​	​	12,742	​	​	118,699
Fixed price	​	​	143,705	​	​	3,161	​	​	146,866
Total (1)	​	$	272,997	​	$	52,862	​	$	325,859
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	31,608	​	$	3,566	​	$	35,174
Government	​	​	104,163	​	​	49,196	​	​	153,359
Utilities (2)	​	​	137,226	​	​	100	​	​	137,326
Total (1)	​	$	272,997	​	$	52,862	​	$	325,859
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	272,997	​	$	52,862	​	$	325,859

​

​	​	​	​	​	​	​	​	​	​
​		Three months ended June 28, 2024
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	8,700	​	$	17,027	​	$	25,727
Unit-based	​	​	47,578	​	​	4,871	​	​	52,449
Fixed price	​	​	61,574	​	​	1,246	​	​	62,820
Total (1)	​	$	117,852	​	$	23,144	​	$	140,996
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	8,691	​	$	1,733	​	$	10,424
Government	​	​	51,468	​	​	21,361	​	​	72,829
Utilities (2)	​	​	57,693	​	​	50	​	​	57,743
Total (1)	​	$	117,852	​	$	23,144	​	$	140,996
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	117,852	​	$	23,144	​	$	140,996
​	​	​	​	​	​	​	​	​	​
​		Six months ended June 28, 2024
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	17,237	​	$	33,426	​	$	50,663
Unit-based	​	​	94,535	​	​	9,382	​	​	103,917
Fixed price	​	​	106,826	​	​	2,079	​	​	108,905
Total (1)	​	$	218,598	​	$	44,887	​	$	263,485
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	15,894	​	$	3,313	​	$	19,207
Government	​	​	87,288	​	​	41,459	​	​	128,747
Utilities (2)	​	​	115,416	​	​	115	​	​	115,531
Total (1)	​	$	218,598	​	$	44,887	​	$	263,485
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	218,598	​	$	44,887	​	$	263,485

(1) Amounts may not add to the totals due to rounding.

(2) Includes the portion of revenue related to small business programs paid by the end user/customer.

(3) Revenue from the Company’s foreign operations was not material for the three and six months ended July 4, 2025 and June 28, 2024.

​

Geographical Information

​

Substantially all of the Company’s consolidated revenue was derived from its operations in the U.S. The Company operates through a network of offices spread across 22 U.S. states, the District of Columbia, the Commonwealth of Puerto Rico, and Canada. Revenues from the Company’s Puerto Rican and Canadian operations were not material for the three and six months ended July 4, 2025, nor for the three and six months ended June 28, 2024.

Customer Concentration

For the three and six months ended July 4, 2025, the Company’s top 10 customers accounted for 52.5%, and 52.6%, respectively, of the Company’s consolidated contract revenue. For the three and six months ended June 28, 2024, the Company’s top 10 customers accounted for 52.4%, and 49.8%, respectively, of the Company’s consolidated contract revenue.

For the three and six months ended July 4, 2025, the Company had individual customers that accounted for more than 10% of its consolidated contract revenue. For the three months ended July 4, 2025, the Company derived 26.3% of its consolidated contract revenue from two customers, Southern California Edison and Clark County School District. For the six months ended July 4, 2025, the Company derived 25.3% of its consolidated contract revenue from two customers, Southern California Edison and Clark County School District. For the three and six months ended June 28, 2024, the Company had no individual customers that accounted for more than 10% of its consolidated contract revenue.

On a segment basis, the Company reports customers that accounted for more than 10% of its segment contract revenues. For the three months ended July 4, 2025, the Company derived 31.1% of its Energy segment revenues from two customers, Southern California Edison and Clark County School District, and no single customer accounted for 10% or more of the Company’s Engineering and Consulting segment revenues. For the six months ended July 4, 2025, the Company derived 30.2% of its Energy segment revenues from two customers, Southern California Edison and Clark County School District, and no single customer accounted for 10% or more of the Company’s Engineering and Consulting segment revenues. For the three and six months ended June 28, 2024, no single customer accounted for 10% or more of its Energy segment revenues. For the three and six months ended June 28, 2024, no single customer accounted for 10% or more of its Engineering and Consulting segment revenues.

On a geographical basis, through the six months ended July 4, 2025, the Company’s largest clients are based in California, New York, and Nevada. For the three and six months ended July 4, 2025, services provided to clients in California accounted for 44.6% and 42.4%, respectively, of the Company’s consolidated contract revenue, services provided to clients in New York accounted for 18.4% and 20.0%, respectively, of the Company’s consolidated contract revenue, and services provided to clients in Nevada accounted for 11.1% and 12.4%, respectively, of the Company’s consolidated contract revenue. Through the six months ended June 28, 2024, the Company’s largest clients are based in California and New York. For the three and six months ended June 28, 2024, services provided to clients in California accounted for 44.3% and 43.9%, respectively, of the Company’s consolidated contract revenue, and services provided to clients in New York accounted for 23.7% and 25.3%, respectively, of the Company’s consolidated contract revenue.

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration