v3.26.1

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 15,766	$ 11,345
Restricted cash	65	65
Accounts receivable (net of allowance for credit losses of $396 at both period ends)	120,506	133,205
Contract assets, net	46,485	45,467
Other current assets	8,937	4,967
Total current assets	191,759	195,049
Property and equipment, net	40,975	43,309
Intangible assets, net	47,442	49,187
Goodwill	70,668	70,600
Operating lease right-of-use assets	19,252	19,792
Deferred tax asset	6,574	2,917
Other assets	302	276
Total assets	376,972	381,130
Current liabilities:
Current portion of long-term debt	4,906	5,031
Current operating lease liabilities	4,598	4,379
Accounts payable, including retainage	62,127	74,172
Contract liabilities, net	18,060	20,936
Accrued income taxes	1,152	1,152
Accrued expenses and other current liabilities	21,532	29,416
Total current liabilities	112,375	135,086
Long-term debt	51,743	30,536
Long-term operating lease liabilities	15,224	15,925
Other long-term liabilities	1,295	3,922
Total liabilities	180,637	185,469
Commitments and Contingencies
STOCKHOLDERS’ EQUITY
Common stock, $0.0001 par value; 100,000,000 shares authorized, issued 12,100,719 and 11,806,466, respectively, and 11,921,067 and 11,626,814 outstanding, respectively	1	1
Additional paid-in capital	93,629	97,335
Treasury stock, at cost (179,652 shares at both period ends)	(2,000)	(2,000)
Retained earnings	104,705	100,325
Total stockholders’ equity	196,335	195,661
Total liabilities and stockholders’ equity	$ 376,972	$ 381,130

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Limbach Holdings, Inc. 10-Q