Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 641 $ (5,027)
Adjustments to reconcile net income (loss) to net cash provided by (used in) in operating activities:    
Depreciation and amortization 1,333 1,251
Gain on sale or disposal of fixed assets, net (64) (25)
Gain on insurance recoveries (245)  
Stock-based compensation expense 509 571
Changes in operating assets and liabilities:    
Contract receivables and retainage, net (14,540) (7,657)
Contract assets (699) 2,065
Prepaid expenses, inventory and other current assets 147 (2,070)
Accounts payable 18,135 346
Contract liabilities (3,808) (2,450)
Accrued expenses and other current liabilities 62 1,792
Noncurrent assets and liabilities, net (175) (147)
Net cash provided by (used in) operating activities 1,296 (11,351)
Cash flows from investing activities:    
Capital expenditures (487) (440)
Proceeds from sale of property and equipment 106 25
Recoveries from insurance claims 245  
Purchases of short-term investments (15,083)  
Maturities of short-term investments 10,000  
Net cash used in investing activities (5,219) (415)
Cash flows from financing activities:    
Payments on Insurance Finance Arrangements (1,003)  
Tax payments for vested stock withholdings (181) (59)
Net cash used in financing activities (1,184) (59)
Net decrease in cash, cash equivalents and restricted cash (5,107) (11,825)
Cash, cash equivalents and restricted cash, beginning of period 34,824 54,589
Cash, cash equivalents and restricted cash, end of period $ 29,717 $ 42,764