XML 25 R15.htm IDEA: XBRL DOCUMENT v3.25.3

SEGMENT AND GEOGRAPHICAL INFORMATION

9 Months Ended

Oct. 03, 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 and nine months ended October 3, 2025 and September 27, 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 October 3, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

154,750

​

$

27,256

​

$

-

​

$

-

​

$

182,006

Direct subcontractor services and other direct costs

​

​

85,536

​

​

1,503

​

​

-

​

​

-

​

​

87,039

Direct salaries and wages

​

​

17,169

​

​

10,709

​

​

-

​

​

-

​

​

27,878

Gross profit

​

​

52,045

​

​

15,044

​

​

-

​

​

-

​

​

67,089

Other indirect costs

​

​

35,793

​

​

9,878

​

​

2,643

​

​

-

​

​

48,314

EBITDA (2)

​

​

16,269

​

​

5,165

​

​

(2,329)

​

​

-

​

​

19,105

Interest expense, net

​

​

-

​

​

-

​

​

902

​

​

-

​

​

902

Depreciation and amortization

​

​

3,451

​

​

462

​

​

-

​

​

-

​

​

3,913

Segment profit (loss) before income tax expense

​

​

12,818

​

​

4,702

​

​

(3,230)

​

​

-

​

​

14,290

Income tax expense (benefit)

​

​

1,109

​

​

665

​

​

(1,205)

​

​

-

​

​

569

Net income (loss)

​

​

11,709

​

​

4,038

​

​

(2,026)

​

​

-

​

​

13,721

Segment assets (3)

​

​

428,984

​

​

40,979

​

​

61,092

​

​

(23,130)

​

​

507,925

Fiscal Nine Months Ended October 3, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

427,747

​

$

80,118

​

$

-

​

$

-

​

$

507,865

Direct subcontractor services and other direct costs

​

​

228,410

​

​

4,182

​

​

-

​

​

-

​

​

232,592

Direct salaries and wages

​

​

49,886

​

​

32,312

​

​

-

​

​

-

​

​

82,198

Gross profit

​

​

149,451

​

​

43,624

​

​

-

​

​

-

​

​

193,075

Other indirect costs

​

​

106,219

​

​

29,507

​

​

9,778

​

​

-

​

​

145,504

EBITDA (2)

​

​

42,518

​

​

14,112

​

​

(8,219)

​

​

-

​

​

48,411

Interest expense, net

​

​

-

​

​

-

​

​

4,890

​

​

-

​

​

4,890

Depreciation and amortization

​

​

12,346

​

​

1,511

​

​

-

​

​

-

​

​

13,857

Segment profit (loss) before income tax expense

​

​

30,173

​

​

12,600

​

​

(13,109)

​

​

-

​

​

29,664

Income tax expense (benefit)

​

​

(4,252)

​

​

(1,775)

​

​

1,847

​

​

-

​

​

(4,180)

Net income (loss)

​

​

34,424

​

​

14,376

​

​

(14,956)

​

​

-

​

​

33,844

Segment assets (3)

​

​

428,984

​

​

40,979

​

​

61,092

​

​

(23,130)

​

​

507,925

​

(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 September 27, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

134,036

​

$

24,216

​

$

-

​

$

-

​

$

158,252

Direct subcontractor services and other direct costs

​

​

81,805

​

​

758

​

​

-

​

​

-

​

​

82,563

Direct salaries and wages

​

​

14,212

​

​

9,876

​

​

-

​

​

-

​

​

24,088

Gross profit

​

​

38,019

​

​

13,582

​

​

-

​

​

-

​

​

51,601

Other indirect costs

​

​

28,532

​

​

8,924

​

​

1,755

​

​

-

​

​

39,211

EBITDA (2)

​

​

9,513

​

​

4,658

​

​

(1,018)

​

​

-

​

​

13,153

Interest expense, net

​

​

-

​

​

-

​

​

1,934

​

​

-

​

​

1,934

Depreciation and amortization

​

​

3,337

​

​

379

​

​

-

​

​

-

​

​

3,716

Segment profit (loss) before income tax expense

​

​

6,176

​

​

4,280

​

​

(2,953)

​

​

-

​

​

7,503

Income tax expense (benefit)

​

​

(25)

​

​

85

​

​

97

​

​

-

​

​

157

Net income (loss)

​

​

6,202

​

​

4,194

​

​

(3,050)

​

​

-

​

​

7,346

Segment assets (3)

​

​

348,617

​

​

29,523

​

​

92,243

​

​

(23,130)

​

​

447,253

Fiscal Nine Months Ended September 27, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract revenue

​

$

352,634

​

$

69,103

​

$

-

​

$

-

​

$

421,737

Direct subcontractor services and other direct costs

​

​

202,015

​

​

2,652

​

​

-

​

​

-

​

​

204,667

Direct salaries and wages

​

​

40,430

​

​

28,817

​

​

-

​

​

-

​

​

69,247

Gross profit

​

​

110,189

​

​

37,634

​

​

-

​

​

-

​

​

147,823

Other indirect costs

​

​

84,874

​

​

26,884

​

​

4,645

​

​

-

​

​

116,403

EBITDA (2)

​

​

25,686

​

​

10,745

​

​

(2,718)

​

​

-

​

​

33,713

Interest expense, net

​

​

-

​

​

-

​

​

6,031

​

​

-

​

​

6,031

Depreciation and amortization

​

​

9,800

​

​

1,137

​

​

-

​

​

-

​

​

10,937

Segment profit (loss) before income tax expense

​

​

15,886

​

​

9,608

​

​

(8,749)

​

​

-

​

​

16,745

Income tax expense (benefit)

​

​

1,767

​

​

1,069

​

​

(973)

​

​

-

​

​

1,863

Net income (loss)

​

​

14,119

​

​

8,539

​

​

(7,776)

​

​

-

​

​

14,882

Segment assets (3)

​

​

348,617

​

​

29,523

​

​

92,243

​

​

(23,130)

​

​

447,253

​

(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 October 3, 2025
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	12,866	​	$	18,382	​	$	31,248
Unit-based	​	​	58,252	​	​	6,965	​	​	65,217
Fixed price	​	​	83,632	​	​	1,909	​	​	85,541
Total (1)	​	$	154,750	​	$	27,256	​	$	182,006
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	15,942	​	$	1,945	​	$	17,887
Government	​	​	64,587	​	​	25,256	​	​	89,843
Utilities (2)	​	​	74,221	​	​	55	​	​	74,276
Total (1)	​	$	154,750	​	$	27,256	​	$	182,006
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	154,750	​	$	27,256	​	$	182,006
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​		Nine months ended October 3, 2025
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	36,201	​	$	55,341	​	$	91,542
Unit-based	​	​	164,209	​	​	19,707	​	​	183,916
Fixed price	​	​	227,337	​	​	5,070	​	​	232,407
Total (1)	​	$	427,747	​	$	80,118	​	$	507,865
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	47,550	​	$	5,511	​	$	53,061
Government	​	​	168,750	​	​	74,452	​	​	243,202
Utilities (2)	​	​	211,447	​	​	155	​	​	211,602
Total (1)	​	$	427,747	​	$	80,118	​	$	507,865
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	427,747	​	$	80,118	​	$	507,865

​

​	​	​	​	​	​	​	​	​	​
​		Three months ended September 27, 2024
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	7,953	​	$	17,767	​	$	25,720
Unit-based	​	​	52,487	​	​	4,993	​	​	57,480
Fixed price	​	​	73,596	​	​	1,456	​	​	75,052
Total (1)	​	$	134,036	​	$	24,216	​	$	158,252
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	7,964	​	$	1,968	​	$	9,932
Government	​	​	61,115	​	​	22,155	​	​	83,270
Utilities (2)	​	​	64,957	​	​	93	​	​	65,050
Total (1)	​	$	134,036	​	$	24,216	​	$	158,252
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	134,036	​	$	24,216	​	$	158,252
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​		Nine months ended September 27, 2024
​		Energy			Engineering and Consulting			Total
​		(in thousands)
Contract Type	​	​	​	​	​	​	​	​	​
Time-and-materials	​	$	25,190	​	$	51,193	​	$	76,383
Unit-based	​	​	147,022	​	​	14,375	​	​	161,397
Fixed price	​	​	180,422	​	​	3,535	​	​	183,957
Total (1)	​	$	352,634	​	$	69,103	​	$	421,737
​	​	​	​	​	​	​	​	​	​
Client Type	​	​	​	​	​	​	​	​	​
Commercial	​	$	23,858	​	$	5,281	​	$	29,139
Government	​	​	148,403	​	​	63,614	​	​	212,017
Utilities (2)	​	​	180,373	​	​	208	​	​	180,581
Total (1)	​	$	352,634	​	$	69,103	​	$	421,737
​	​	​	​	​	​	​	​	​	​
Geography (3)	​	​	​	​	​	​	​	​	​
Domestic	​	$	352,634	​	$	69,103	​	$	421,737

(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 nine months ended October 3, 2025 and September 27, 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 nine months ended October 3, 2025, nor for the three and nine months ended September 27, 2024.

Customer Concentration

For the three and nine months ended October 3, 2025, the Company’s top 10 customers accounted for 54.8%, and 52.3%, respectively, of the Company’s consolidated contract revenue. For the three and nine months ended September 27, 2024, the Company’s top 10 customers accounted for 49.1%, and 49.5%, respectively, of the Company’s consolidated contract revenue.

For the three and nine months ended October 3, 2025, the Company had individual customers that accounted for more than 10% of its consolidated contract revenue. For the three months ended October 3, 2025, the Company derived 26.8% of its consolidated contract revenue from two customers, Southern California Edison and Clark County School District. For the nine months ended October 3, 2025, the Company derived 25.8% of its consolidated contract revenue from two customers, Southern California Edison and Clark County School District. For the three and nine months ended September 27, 2024, the Company had no individual customers that accounted for more than 10% of its consolidated contract revenue.

On a segment basis, the Company had individual customers that accounted for more than 10% of its segment contract revenues. For the three months ended October 3, 2025, the Company derived 31.5% 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 nine months ended October 3, 2025, the Company derived 30.7% 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 months ended September 27, 2024, the Company derived 22.1% 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 nine months ended September 27, 2024, no single customer accounted for 10% or more of the Company’s Energy segment revenues, and no single customer accounted for 10% or more of the Company’s Engineering and Consulting segment revenues. 

On a geographical basis, through the nine months ended October 3, 2025, the Company’s largest clients are based in California, New York, and Nevada. For the three and nine months ended October 3, 2025, services provided to clients in California accounted for 46.3% and 43.7%, respectively, of the Company’s consolidated contract revenue, services provided to clients in New York accounted for 17.3% and 19.0%, respectively, of the Company’s consolidated contract revenue, and services provided to clients in Nevada accounted for 12.9% and 12.6%, respectively, of the Company’s consolidated contract revenue. Through the nine months ended September 27, 2024, the Company’s largest clients are based in California and New York. For the three and nine months ended September 27, 2024, services provided to clients in California accounted for 42.2% and 43.3%, respectively, of the Company’s consolidated contract revenue, and services provided to clients in New York accounted for 21.0% and 23.7%, 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