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Revenue, Receivables and Contract Assets and Liabilities (Tables)

9 Months Ended

Oct. 03, 2025

Revenue from Contract with Customer [Abstract]

Summary of Company's Revenue Disaggregated by Contract Types

The following table presents the Company’s revenue disaggregated by contract types:

		Three Months Ended								Nine Months Ended
		October 3,				September 27,				October 3,				September 27,
(In thousands)		2025				2024				2025				2024
Fixed-price		$	134,338			$	153,802			$	339,612			$	349,182
Cost reimbursable			7,356				11,602				51,930				25,983
Equipment and labor revenue			226				631				890				1,519
Total revenue		$	141,920			$	166,035			$	392,432			$	376,684

Projects started after prior ownership ("Shimmick Projects") have focused on critical infrastructure aligned with our strategy, including water, climate resilience, energy transition and sustainable transportation. Projects that started under prior ownership or focus on foundation drilling are referred to as "Non-Core Projects" (formerly referred to as "Legacy and Foundations Projects").

The following table presents the Company’s revenue disaggregated by Shimmick Projects and Non-Core Projects:

		Three Months Ended								Nine Months Ended
		October 3,				September 27,				October 3,				September 27,
(In thousands)		2025				2024				2025				2024
Shimmick Projects		$	106,826			$	101,475			$	312,599			$	275,457
Non-Core Projects			35,094				64,560				79,833				101,227
Total revenue		$	141,920			$	166,035			$	392,432			$	376,684

Summary of Information About Contract Assets and Contract Liabilities

The following table provides information about contract assets (also referred to as costs and estimated earnings in excess of billings on uncompleted contracts and retainage receivable) and contract liabilities (also referred to as billings on uncompleted contracts in excess of costs and estimated earnings and forward loss reserve), which include assets and liabilities that are dependent upon future activity:

		October 3,				January 3,
		2025				2025				Change
(In thousands)
Contract assets, current and non-current:
Costs and estimated earnings in excess of billings on uncompleted contracts		$	87,585			$	46,603			$	40,982
Retainage receivable			6,965				23,517				(16,552	)
Total contract assets			94,550				70,120				24,430
Contract liabilities, current and non-current:
Billings on uncompleted contracts in excess of costs and estimated earnings			(5,367	)			(50,490	)			45,123
Forward loss reserve			(42,248	)			(52,147	)			9,899
Total contract liabilities			(47,615	)			(102,637	)			55,022
Net		$	46,935			$	(32,517	)		$	79,452

Summary of Unconditional Right to Cash from Clients

The Company’s accounts receivable represents amounts billed to clients that have yet to be collected and represent an unconditional right to cash from its clients as presented below:

		October 3,				January 3,
		2025				2025
(In thousands)
Total accounts receivable, gross		$	42,609			$	43,942
Allowance for credit losses			(824	)			(954	)
Accounts receivable, net		$	41,785			$	42,988

Summary of Information About Significant Customers

Information about significant customers

Significant Customers as a Percentage of Accounts Receivable, Net
As of October 3, 2025
Customer one		42.5%
As of January 3, 2025
Customer one		40.6%
Customer two		20.2%

Significant Customers as a Percentage of Revenue
Three Months Ended October 3, 2025
Customer one		21.4%
Customer two		18.6%
Customer three		11.1%
Three Months Ended September 27, 2024
Customer one		22.8%
Customer two		11.9%
Customer three		11.8%
Customer four		10.8%

Significant Customers as a Percentage of Revenue
Nine Months Ended October 3, 2025
Customer one		16.1%
Customer two		14.6%
Customer three		12.9%
Customer four		11.8%
Nine Months Ended September 27, 2024
Customer one		17.3%
Customer two		14.6%
Customer three		12.1%

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Tabular disclosure of long-term contract or program.

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
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-Name Accounting Standards Codification
-Section 50
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