Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net Income (Loss) $ 10,446 $ (31,492)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,641 4,115
Change in allowance for doubtful accounts and credit losses (28) (410)
Gain on sale or disposal of assets held for sale and fixed assets, net (3,942) (249)
Gain on insurance recoveries   (245)
Stock-based compensation expense 1,444 1,466
Changes in operating assets and liabilities:    
Contract receivables and retainage, net 12,822 (6,479)
Contract assets (3,076) 534
Prepaid expenses, inventory and other current assets 2,401 2,829
Accounts payable (2,843) 2,914
Contract liabilities (3,991) (4,662)
Accrued expenses and other current liabilities (494) (373)
Noncurrent assets and liabilities, net (437) 31,880
Net cash provided by (used in) operating activities 15,943 (172)
Cash flows from investing activities:    
Capital expenditures (4,880) (1,701)
Proceeds from sale of property and equipment 9,614 396
Recoveries from insurance claims 326 245
Purchases of short-term investments (71,744) (30,731)
Maturities of short-term investments 35,955 25,200
Net cash used in investing activities (30,729) (6,591)
Cash flows from financing activities:    
Payments on Insurance Finance Arrangements   (1,257)
Tax payments for vested stock withholdings (1,183) (482)
Repurchases of common stock (879)  
Net cash used in financing activities (2,062) (1,739)
Net decrease in cash, cash equivalents and restricted cash (16,848) (8,502)
Cash, cash equivalents and restricted cash, beginning of period 39,651 34,824
Cash, cash equivalents and restricted cash, end of period $ 22,803 $ 26,322