Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 14,741 $ (24,402)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 4,865 5,466
Change in allowance for doubtful accounts and credit losses (28) (410)
(Gain) loss on sale or disposal of assets held for sale and fixed assets, net (3,907) 27
Gain on insurance recoveries 0 (571)
Stock-based compensation expense 1,777 1,991
Changes in operating assets and liabilities:    
Contract receivables and retainage, net 13,839 (7,093)
Contract assets (5,872) 2,100
Prepaid expenses, inventory and other current assets 1,694 (133)
Accounts payable (2,608) (9)
Contract liabilities (4,192) (2,726)
Accrued expenses and other current liabilities (1,385) 1,206
Noncurrent assets and liabilities, net (676) 31,751
Net cash provided by operating activities 18,248 7,197
Cash flows from investing activities:    
Capital expenditures (5,344) (2,876)
Proceeds from sale of property and equipment 9,614 456
Recoveries from insurance claims 326 245
Purchases of short-term investments (100,982) (39,028)
Maturities of short-term investments 70,430 40,700
Net cash used in investing activities (25,956) (503)
Cash flows from financing activities:    
Principal payments on long-term debt (1,075) 0
Payments on insurance finance arrangements 0 (1,257)
Tax payments for vested stock withholdings (1,183) (482)
Repurchases of common stock (1,204) (128)
Net cash used in financing activities (3,462) (1,867)
Net increase (decrease) in cash, cash equivalents and restricted cash (11,170) 4,827
Cash, cash equivalents and restricted cash, beginning of period 39,651 34,824
Cash, cash equivalents and restricted cash, end of period 28,481 39,651
Supplemental cash flow information:    
Interest paid 635 49
Accounts payable excluded from capital expenditures 326 383
Reclassification of property, plant and equipment to assets held for sale $ 0 $ 5,640