Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net Income (Loss) $ 4,812 $ 10,446
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,678 3,641
Change in allowance for doubtful accounts and credit losses 1,500 (28)
(Gain) loss on sale or disposal of property and equipment, net 8 (3,942)
Stock-based compensation expense 908 1,444
Changes in operating assets and liabilities:    
Contract receivables and retainage, net (11,037) 12,822
Contract assets (2,345) (3,076)
Prepaid expenses, inventory and other current assets 820 2,401
Accounts payable 11,919 (2,843)
Contract liabilities (1,735) (3,991)
Accrued expenses and other current liabilities (548) (494)
Noncurrent assets and liabilities, net and other (366) (437)
Net cash provided by operating activities 7,614 15,943
Cash flows from investing activities:    
Capital expenditures (813) (4,880)
Acquisition of business (3,500) 0
Purchase of loan (1,500) 0
Proceeds from sale of property and equipment 11 9,614
Recoveries from insurance claims 0 326
Purchases of short-term investments (63,792) (71,744)
Maturities of short-term investments 62,420 35,955
Net cash used in investing activities (7,174) (30,729)
Cash flows from financing activities:    
Tax payments for vested stock withholdings (860) (1,183)
Repurchases of common stock (3,658) (879)
Net cash used in financing activities (4,518) (2,062)
Net decrease in cash, cash equivalents and restricted cash (4,078) (16,848)
Cash, cash equivalents and restricted cash, beginning of period 28,481 39,651
Cash, cash equivalents and restricted cash, end of period $ 24,403 $ 22,803