v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 3,827 $ 6,240
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,256 1,193
Change in allowance for doubtful accounts and credit losses 0 (28)
(Gain) loss on sale or disposal of property and equipment, net 8 (3,241)
Stock-based compensation expense 343 506
Changes in operating assets and liabilities:    
Contract receivables and retainage, net (2,920) 9,434
Contract assets (1,462) (2,166)
Prepaid expenses, inventory and other current assets (432) 2,102
Accounts payable 3,998 (1,712)
Contract liabilities (344) (3,730)
Accrued expenses and other current liabilities (1,879) (1,422)
Noncurrent assets and liabilities, net (176) (157)
Net cash provided by operating activities 2,219 7,019
Cash flows from investing activities:    
Capital expenditures (307) (2,553)
Issuance of note receivable (DIP Loan) (1,150)  
Proceeds from sale of property and equipment 11 8,894
Recoveries from insurance claims 0 326
Purchases of short-term investments (14,074) (22,170)
Maturities of short-term investments 15,220 3,050
Net cash used in investing activities (300) (12,453)
Cash flows from financing activities:    
Repurchases of common stock (567) (273)
Net cash used in financing activities (567) (273)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,352 (5,707)
Cash, cash equivalents and restricted cash, beginning of period 28,481 39,651
Cash, cash equivalents and restricted cash, end of period $ 29,833 $ 33,944

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