National Energy Services Reunited Corp(NASDAQ:NESR)
National Energy Services Reunited Corp. provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through two segments: Production Services; and Drilling and Evaluation Services. The Production Services segment offers hydraulic fr...
Website: http://www.nesr.com
Full Time Employees: 5,581 (May 2021)
Sector: Energy
Industry: Oil & Gas Equipment & Services
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At a glance:
Bull Thesis:
Bear Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-11-13 | 2025-09-30 | 2025-08-20 | 2025-06-30 | 2025-06-03 | 2025-03-31 | 2025-03-12 | 2024-12-31 | 2024-11-19 | 2024-09-30 | 2024-08-29 | 2024-06-30 | 2024-04-30 | 2023-12-31 | 2022-12-31 | 2021-11-03 | 2021-09-30 | 2021-08-04 | 2021-06-30 | 2021-03-31 | 2021-02-24 | 2020-12-31 | 2020-10-28 | 2020-09-30 | 2020-08-04 | 2020-06-30 | 2020-05-06 | 2020-03-31 | 2020-02-26 | 2019-12-31 | 2019-11-06 | 2019-09-30 | 2019-08-22 | 2019-08-07 | 2019-06-30 | 2019-05-13 | 2019-03-31 | 2019-02-25 | 2018-12-31 | 2018-11-08 | 2018-09-30 | 2018-08-20 | 2018-06-30 |
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description | |||||||||||||||||||||||||||||||||||||||||||||
revenues | 404,586,000 | 295,315,000 | 295,315,000 | 327,368,000 | 327,368,000 | 303,102,000 | 303,102,000 | 343,682,000 | 336,205,000 | 336,205,000 | 324,969,000 | 324,969,000 | 1,145,915,000 | 217,992,000 | 217,992,000 | 234,927,000 | 234,927,000 | 212,426,000 | 213,175,000 | 218,423,000 | 218,423,000 | 203,249,000 | 203,249,000 | 199,299,000 | 199,299,000 | 658,385,000 | 473,209,000 | 473,209,000 | 348,590,000 | 311,603,000 | 311,603,000 | 151,704,000 | 151,704,000 | 348,590,000 | 145,580,000 | 145,580,000 | 44,986,000 | 44,986,000 | |||||||
cost of services | -352,755,000 | -259,955,000 | -259,955,000 | -283,484,000 | -283,484,000 | -265,647,000 | -265,647,000 | -284,501,000 | -282,794,000 | -282,794,000 | -271,830,000 | -271,830,000 | -997,265,000 | -186,095,000 | -186,095,000 | -193,931,000 | -174,311,000 | -178,154,000 | -177,953,000 | -177,953,000 | -164,343,000 | -164,343,000 | -158,270,000 | -158,270,000 | -506,799,000 | -352,716,000 | -352,716,000 | -249,159,000 | -231,390,000 | -114,497,000 | -114,497,000 | ||||||||||||||
gross profit | 51,831,000 | 35,360,000 | 35,360,000 | 43,884,000 | 43,884,000 | 37,455,000 | 37,455,000 | 59,181,000 | 53,411,000 | 53,411,000 | 53,139,000 | 53,139,000 | 148,650,000 | 31,897,000 | 31,897,000 | 40,996,000 | 40,996,000 | 38,115,000 | 35,021,000 | 40,470,000 | 40,470,000 | 38,906,000 | 38,906,000 | 41,029,000 | 41,029,000 | 151,586,000 | 120,493,000 | 120,493,000 | 99,431,000 | 80,213,000 | 80,213,000 | 37,207,000 | 37,207,000 | 99,431,000 | 43,231,000 | 43,231,000 | 7,931,000 | 7,931,000 | |||||||
yoy | 18.11% | -5.59% | -5.59% | -25.85% | -29.87% | -29.87% | 11.37% | -64.07% | 66.60% | 366.03% | -16.31% | -8.92% | 1.30% | -5.82% | -9.99% | -1.36% | -1.36% | -74.33% | -65.95% | -65.95% | 52.45% | 50.22% | 223.84% | 167.24% | -19.33% | -13.93% | -13.93% | 1153.70% | |||||||||||||||||
qoq | 0.00% | -19.42% | 0.00% | 17.16% | 0.00% | -36.71% | 0.00% | 0.51% | 0.00% | -64.25% | 0.00% | -22.19% | 0.00% | 7.56% | 8.83% | 0.00% | 4.02% | 0.00% | -5.17% | 0.00% | -72.93% | 0.00% | 21.18% | 23.96% | 0.00% | 115.59% | 0.00% | -62.58% | 0.00% | 445.09% | 0.00% | ||||||||||||||
selling, general, and administrative expenses | -11,103,000 | -11,821,000 | |||||||||||||||||||||||||||||||||||||||||||
amortization | -4,693,000 | -4,693,000 | -4,693,000 | -4,694,000 | -4,694,000 | -4,693,000 | -4,693,000 | -4,694,000 | -4,693,000 | -4,693,000 | -4,694,000 | -4,694,000 | -18,774,000 | -4,728,000 | -4,728,000 | -4,499,000 | -4,008,000 | -3,962,000 | -4,034,000 | -4,034,000 | -3,934,000 | -3,934,000 | -3,887,000 | -3,887,000 | -15,932,000 | -12,036,000 | -12,036,000 | -9,373,000 | -8,003,000 | -4,054,000 | -4,054,000 | -9,373,000 | -3,577,000 | -3,577,000 | -1,536,000 | -1,536,000 | |||||||||
operating income | 36,035,000 | 19,606,000 | 19,606,000 | 27,091,000 | 27,091,000 | 20,941,000 | 20,941,000 | 43,582,000 | 35,448,000 | 35,448,000 | 34,116,000 | 34,116,000 | 80,703,000 | 8,102,000 | 8,102,000 | 14,118,000 | 14,118,000 | 15,961,000 | 12,172,000 | 18,987,000 | 18,987,000 | 17,858,000 | 17,858,000 | 18,515,000 | 18,515,000 | 71,814,000 | 61,865,000 | 61,865,000 | 53,353,000 | 42,103,000 | 42,103,000 | 20,108,000 | 20,108,000 | 53,353,000 | 25,895,000 | 25,895,000 | -2,626,000 | -2,626,000 | |||||||
yoy | 33.01% | -6.38% | -6.38% | -37.84% | -40.92% | -40.92% | 27.75% | -56.08% | 321.08% | 896.09% | -49.24% | -33.44% | -25.64% | -15.94% | -31.84% | 2.55% | 2.55% | -75.13% | -70.07% | -70.07% | 34.60% | 46.94% | 207.66% | 165.33% | -21.09% | -22.35% | -22.35% | -2131.72% | |||||||||||||||||
qoq | 0.00% | -27.63% | 0.00% | 29.37% | 0.00% | -51.95% | 0.00% | 3.90% | 0.00% | -57.73% | 0.00% | -42.61% | 0.00% | -11.55% | 31.13% | 0.00% | 6.32% | 0.00% | -3.55% | 0.00% | -74.22% | 0.00% | 15.95% | 26.72% | 0.00% | 109.38% | 0.00% | -62.31% | 0.00% | -1086.10% | 0.00% | ||||||||||||||
interest expense | -6,543,000 | -8,128,000 | -8,128,000 | -8,562,000 | -8,562,000 | -8,284,000 | -8,284,000 | -9,905,000 | -9,933,000 | -9,933,000 | -9,439,000 | -9,439,000 | -45,826,000 | -3,717,000 | -3,717,000 | -3,234,000 | -3,163,000 | -3,411,000 | -3,793,000 | -3,793,000 | -4,165,000 | -4,165,000 | -4,510,000 | -4,510,000 | -18,971,000 | -14,691,000 | -14,691,000 | -14,383,000 | -9,680,000 | -3,930,000 | -3,930,000 | -14,383,000 | -6,199,000 | -6,199,000 | -1,900,000 | -1,900,000 | |||||||||
other income | 1,449,000 | 759,000 | 759,000 | 940,000 | 940,000 | 1,059,000 | 1,059,000 | -3,524,000 | 394,000 | 394,000 | 184,000 | 184,000 | -5,031,000 | -1,252,000 | -1,252,000 | -655,000 | 283,000 | 37,000 | 37,000 | -309,000 | -309,000 | -111,000 | -111,000 | -408,000 | -629,000 | -629,000 | 5,441,000 | -499,000 | -61,000 | -61,000 | 5,441,000 | 450,000 | 450,000 | -468,000 | |||||||||||
income before income tax | 30,941,000 | 12,237,000 | 12,237,000 | 19,469,000 | 19,469,000 | 13,716,000 | 13,716,000 | 30,153,000 | 25,909,000 | 25,909,000 | 24,861,000 | 24,861,000 | 29,846,000 | 3,133,000 | 3,133,000 | 10,229,000 | 10,229,000 | 13,081,000 | 18,283,000 | 15,231,000 | 15,231,000 | 13,384,000 | 13,384,000 | 13,894,000 | 13,894,000 | 52,435,000 | 46,545,000 | 46,545,000 | 44,411,000 | 31,924,000 | 31,924,000 | 16,117,000 | 16,117,000 | ||||||||||||
income tax expense | -7,114,000 | -4,268,000 | -4,268,000 | -3,325,000 | -3,325,000 | -3,316,000 | -5,291,000 | -5,291,000 | -5,988,000 | -5,988,000 | -17,266,000 | -1,202,000 | -1,202,000 | -2,408,000 | -1,609,000 | -1,765,000 | -3,565,000 | -3,565,000 | -2,848,000 | -2,848,000 | -2,527,000 | -2,527,000 | -13,071,000 | -10,905,000 | -10,905,000 | -9,431,000 | -2,943,000 | -2,943,000 | |||||||||||||||||
net income | 23,827,000 | 17,737,000 | 17,737,000 | 15,201,000 | 15,201,000 | 10,391,000 | 10,391,000 | 26,837,000 | 20,618,000 | 20,618,000 | 18,873,000 | 18,873,000 | 12,580,000 | 1,931,000 | 1,931,000 | 7,821,000 | 7,821,000 | 11,472,000 | 16,518,000 | 11,666,000 | 11,666,000 | 10,536,000 | 10,536,000 | 11,367,000 | 11,367,000 | 39,364,000 | 35,640,000 | 34,980,000 | 24,530,000 | 24,530,000 | 13,174,000 | 13,174,000 | 34,980,000 | 16,157,000 | 16,157,000 | -3,965,000 | -3,965,000 | ||||||||
yoy | 56.75% | 70.70% | 70.70% | -43.36% | -49.60% | -49.60% | 42.20% | 63.90% | 877.37% | 551.48% | -83.17% | -88.31% | -32.96% | -1.66% | 56.78% | 2.63% | 2.63% | -73.23% | -68.11% | 12.53% | 45.29% | 165.52% | -29.87% | -18.46% | -18.46% | -982.22% | |||||||||||||||||||
qoq | 0.00% | 16.68% | 0.00% | 46.29% | 0.00% | -61.28% | 0.00% | 9.25% | 0.00% | 50.02% | 0.00% | -75.31% | 0.00% | -31.83% | -30.55% | 0.00% | 10.73% | 0.00% | -7.31% | 0.00% | -71.12% | 42.60% | 0.00% | 86.20% | 0.00% | -62.34% | 0.00% | -507.49% | 0.00% | ||||||||||||||||
weighted-average shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||
basic | 100,803,435,000 | 98,444,582,000 | 100,356,020,000 | 100,356,020,000 | 96,428,791,000 | 96,428,791,000 | 96,139,181,000 | 96,139,181,000 | 95,955,545,000 | 95,472,527,000 | 95,428,253,000 | 95,428,253,000 | 95,437,068,000 | 94,748,324,000 | 92,962,048,000 | 91,124,273,000 | 90,448,158,000 | 90,017,834,000 | 88,845,618,000 | 88,232,694,000 | 342,250,000,000 | 86,938,883,000 | 85,569,020,000 | 86,895,285,000 | 85,569,020,000 | 85,569,020,000 | 85,562,769,000 | 85,562,769,000 | 85,562,769,000 | ||||||||||||||||
diluted | 102,931,550,000 | 99,105,484,000 | 100,724,290,000 | 100,724,290,000 | 97,639,507,000 | 97,639,507,000 | 96,710,484,000 | 96,710,484,000 | 96,378,194,000 | 95,735,924,000 | 95,653,958,000 | 95,653,958,000 | 95,525,679,000 | 94,748,324,000 | 92,962,048,000 | 94,636,374,000 | 91,933,258,000 | 90,162,873,000 | 88,990,657,000 | 88,232,694,000 | 370,000,000,000 | 86,938,883,000 | 86,862,983,000 | 86,895,285,000 | 86,862,983,000 | 86,862,983,000 | 85,912,715,000 | 85,912,715,000 | 85,562,769,000 | ||||||||||||||||
earnings per share | |||||||||||||||||||||||||||||||||||||||||||||
basic | 0.24 | 0.18 | 0.18 | 0.16 | 0.16 | 0.11 | 0.11 | 0.28 | 0.22 | 0.22 | 0.2 | ||||||||||||||||||||||||||||||||||
diluted | 0.23 | 0.18 | 0.18 | 0.16 | 0.16 | 0.11 | 0.11 | 0.28 | 0.22 | 0.22 | 0.2 | ||||||||||||||||||||||||||||||||||
selling, general and administrative expenses | -11,061,000 | -11,061,000 | -12,099,000 | -12,099,000 | -11,821,000 | -10,905,000 | -13,270,000 | -13,270,000 | -14,329,000 | -14,329,000 | -49,173,000 | -19,067,000 | -19,067,000 | -22,379,000 | -18,146,000 | -18,887,000 | -17,449,000 | -17,449,000 | -17,114,000 | ||||||||||||||||||||||||||
income tax benefit | 5,500,000 | 5,500,000 | -7,394,000 | ||||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding: | |||||||||||||||||||||||||||||||||||||||||||||
basic | 100,803,435,000 | 98,444,582,000 | 100,356,020,000 | 100,356,020,000 | 96,428,791,000 | 96,428,791,000 | 96,139,181,000 | 96,139,181,000 | 95,955,545,000 | 95,472,527,000 | 95,428,253,000 | 95,428,253,000 | 95,437,068,000 | 94,748,324,000 | 92,962,048,000 | 91,124,273,000 | 90,448,158,000 | 90,017,834,000 | 88,845,618,000 | 88,232,694,000 | 342,250,000,000 | 86,938,883,000 | 85,569,020,000 | 86,895,285,000 | 85,569,020,000 | 85,569,020,000 | 85,562,769,000 | 85,562,769,000 | 85,562,769,000 | ||||||||||||||||
diluted | 102,931,550,000 | 99,105,484,000 | 100,724,290,000 | 100,724,290,000 | 97,639,507,000 | 97,639,507,000 | 96,710,484,000 | 96,710,484,000 | 96,378,194,000 | 95,735,924,000 | 95,653,958,000 | 95,653,958,000 | 95,525,679,000 | 94,748,324,000 | 92,962,048,000 | 94,636,374,000 | 91,933,258,000 | 90,162,873,000 | 88,990,657,000 | 88,232,694,000 | 370,000,000,000 | 86,938,883,000 | 86,862,983,000 | 86,895,285,000 | 86,862,983,000 | 86,862,983,000 | 85,912,715,000 | 85,912,715,000 | 85,562,769,000 | ||||||||||||||||
earnings per share: | |||||||||||||||||||||||||||||||||||||||||||||
basic | 0.24 | 0.18 | 0.18 | 0.16 | 0.16 | 0.11 | 0.11 | 0.28 | 0.22 | 0.22 | 0.2 | ||||||||||||||||||||||||||||||||||
diluted | 0.23 | 0.18 | 0.18 | 0.16 | 0.16 | 0.11 | 0.11 | 0.28 | 0.22 | 0.22 | 0.2 | ||||||||||||||||||||||||||||||||||
weighted average shares outstanding: | |||||||||||||||||||||||||||||||||||||||||||||
basic | 95,437,068,000 | 91,250,125,000 | 91,250,125,000 | 91,124,273,000 | 89,876,456,000 | 89,876,456,000 | 88,232,694,000 | 87,231,232,000 | 87,231,232,000 | 86,997,554,000 | 86,938,883,000 | 86,895,285,000 | 86,893,775,000 | 86,893,775,000 | 85,562,769,000 | ||||||||||||||||||||||||||||||
diluted | 95,525,679,000 | 93,116,486,000 | 93,116,486,000 | 94,636,374,000 | 89,876,456,000 | 89,876,456,000 | 88,232,694,000 | 87,231,232,000 | 87,231,232,000 | 86,997,554,000 | 86,938,883,000 | 86,895,285,000 | 86,893,775,000 | 86,893,775,000 | 85,562,769,000 | ||||||||||||||||||||||||||||||
earnings / | |||||||||||||||||||||||||||||||||||||||||||||
basic | 200 | ||||||||||||||||||||||||||||||||||||||||||||
diluted | 200 | ||||||||||||||||||||||||||||||||||||||||||||
net earnings per share: | |||||||||||||||||||||||||||||||||||||||||||||
basic | 0.13 | 0.02 | 0.02 | 0.09 | 0.09 | 0.13 | 0.18 | 0.13 | 0.13 | 0.12 | 0.12 | 0.45 | 0.4 | 0.4 | 0.41 | 0.28 | 0.28 | 0.15 | 0.15 | 0.41 | 0.19 | 0.19 | -0.05 | -0.05 | |||||||||||||||||||||
diluted | 0.13 | 0.02 | 0.02 | 0.08 | 0.08 | 0.12 | 0.18 | 0.13 | 0.13 | 0.12 | 0.12 | 0.45 | 0.4 | 0.4 | 0.4 | 0.28 | 0.28 | 0.15 | 0.15 | 0.4 | 0.19 | 0.19 | -0.05 | -0.05 | |||||||||||||||||||||
gain on private warrant liability | |||||||||||||||||||||||||||||||||||||||||||||
net income attributable to non-controlling interests | -163,000 | -163,000 | 47,000 | 47,000 | -219,000 | -219,000 | |||||||||||||||||||||||||||||||||||||||
net income attributable to shareholders | 1,931,000 | 1,931,000 | 7,821,000 | 7,821,000 | 11,472,000 | 16,518,000 | 11,666,000 | 11,666,000 | 10,536,000 | 10,536,000 | 11,367,000 | 11,367,000 | 39,364,000 | 35,640,000 | 35,640,000 | 35,143,000 | 24,530,000 | 24,530,000 | 13,174,000 | 13,174,000 | 35,143,000 | 16,110,000 | 16,110,000 | -3,746,000 | -3,746,000 | ||||||||||||||||||||
net earnings per share | |||||||||||||||||||||||||||||||||||||||||||||
basic | 0.13 | 0.02 | 0.02 | 0.09 | 0.09 | 0.13 | 0.18 | 0.13 | 0.13 | 0.12 | 0.12 | 0.45 | 0.4 | 0.4 | 0.41 | 0.28 | 0.28 | 0.15 | 0.15 | 0.41 | 0.19 | 0.19 | -0.05 | -0.05 | |||||||||||||||||||||
diluted | 0.13 | 0.02 | 0.02 | 0.08 | 0.08 | 0.12 | 0.18 | 0.13 | 0.13 | 0.12 | 0.12 | 0.45 | 0.4 | 0.4 | 0.4 | 0.28 | 0.28 | 0.15 | 0.15 | 0.4 | 0.19 | 0.19 | -0.05 | -0.05 | |||||||||||||||||||||
other income / (expense) | 9,522,000 | ||||||||||||||||||||||||||||||||||||||||||||
selling, general and administrative expense | -17,114,000 | -18,627,000 | -18,627,000 | -63,840,000 | -46,592,000 | -46,592,000 | -36,705,000 | -30,107,000 | -13,045,000 | -13,045,000 | -36,705,000 | -13,759,000 | -13,759,000 | -9,021,000 | -9,021,000 | ||||||||||||||||||||||||||||||
net income per share | |||||||||||||||||||||||||||||||||||||||||||||
basic | 0.13 | 0.13 | |||||||||||||||||||||||||||||||||||||||||||
diluted | 0.13 | 0.13 | |||||||||||||||||||||||||||||||||||||||||||
net income / | 35,640,000 | ||||||||||||||||||||||||||||||||||||||||||||
net loss attributable to non-controlling interests | |||||||||||||||||||||||||||||||||||||||||||||
cost of products and services | -249,159,000 | -102,349,000 | -102,349,000 | ||||||||||||||||||||||||||||||||||||||||||
income before income taxes | 44,411,000 | 20,146,000 | 20,146,000 | -4,994,000 | |||||||||||||||||||||||||||||||||||||||||
income taxes | -9,431,000 | -3,989,000 | -3,989,000 | 1,029,000 | 1,029,000 | ||||||||||||||||||||||||||||||||||||||||
cost of product and services | -37,055,000 | -37,055,000 | |||||||||||||||||||||||||||||||||||||||||||
other (expense) income | -468,000 | ||||||||||||||||||||||||||||||||||||||||||||
income (loss) before income taxes | -4,994,000 | ||||||||||||||||||||||||||||||||||||||||||||
weighted average shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||
basic | 95,437,068,000 | 91,250,125,000 | 91,250,125,000 | 91,124,273,000 | 89,876,456,000 | 89,876,456,000 | 88,232,694,000 | 87,231,232,000 | 87,231,232,000 | 86,997,554,000 | 86,938,883,000 | 86,895,285,000 | 86,893,775,000 | 86,893,775,000 | 85,562,769,000 | ||||||||||||||||||||||||||||||
diluted | 95,525,679,000 | 93,116,486,000 | 93,116,486,000 | 94,636,374,000 | 89,876,456,000 | 89,876,456,000 | 88,232,694,000 | 87,231,232,000 | 87,231,232,000 | 86,997,554,000 | 86,938,883,000 | 86,895,285,000 | 86,893,775,000 | 86,893,775,000 | 85,562,769,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-11-13 | 2025-09-30 | 2025-08-20 | 2025-06-30 | 2025-06-03 | 2025-03-31 | 2025-03-12 | 2024-12-31 | 2024-11-19 | 2024-09-30 | 2024-08-29 | 2024-06-30 | 2024-04-30 | 2023-12-31 | 2022-12-31 | 2021-11-03 | 2021-09-30 | 2021-08-04 | 2021-06-30 | 2021-03-31 | 2021-02-24 | 2020-12-31 | 2020-10-28 | 2020-09-30 | 2020-08-04 | 2020-06-30 | 2020-05-06 | 2020-03-31 | 2020-02-26 | 2019-12-31 | 2019-11-06 | 2019-09-30 | 2019-08-07 | 2019-06-30 | 2019-05-13 | 2019-03-31 | 2018-12-31 | 2018-11-08 | 2018-09-30 | 2018-08-20 | 2018-06-30 | 2018-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||||||||||||||||
current assets | ||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 92,956,000 | 124,797,000 | 69,683,000 | 69,683,000 | 131,802,000 | 131,802,000 | 78,695,000 | 78,695,000 | 107,956,000 | 107,956,000 | 118,169,000 | 118,169,000 | 74,997,000 | 74,997,000 | 67,821,000 | 67,821,000 | 78,853,000 | 101,018,000 | 101,018,000 | 66,074,000 | 66,074,000 | 89,268,000 | 75,017,000 | 75,012,000 | 50,487,000 | 50,487,000 | 79,317,000 | 79,317,000 | 49,017,000 | 49,017,000 | 73,201,000 | 73,201,000 | 43,082,000 | 43,082,000 | 69,643,000 | 69,643,000 | 19,935,000 | 19,935,000 | 24,892,000 | 67,560,000 | 67,560,000 | 36,901,000 | 36,901,000 | |
accounts receivable | 227,932,000 | 178,020,000 | 192,769,000 | 192,769,000 | 191,047,000 | 191,047,000 | 164,805,000 | 164,805,000 | 137,265,000 | 137,265,000 | 132,549,000 | 132,549,000 | 155,942,000 | 155,942,000 | 171,269,000 | 171,269,000 | 148,709,000 | 98,223,000 | 98,223,000 | 116,483,000 | 116,483,000 | 127,509,000 | 117,303,000 | 116,835,000 | 128,719,000 | 128,719,000 | 113,454,000 | 113,454,000 | 106,620,000 | 106,620,000 | 99,019,000 | 98,799,000 | 107,370,000 | 107,370,000 | 102,731,000 | 102,731,000 | 85,120,000 | 85,120,000 | 62,636,000 | 76,758,000 | 76,758,000 | 86,764,000 | 86,764,000 | |
unbilled revenue | 171,341,000 | 121,186,000 | 126,333,000 | 126,333,000 | 114,635,000 | 114,635,000 | 130,072,000 | 130,072,000 | 111,734,000 | 111,734,000 | 141,857,000 | 141,857,000 | 144,976,000 | 144,976,000 | 95,997,000 | 95,997,000 | 110,186,000 | 138,900,000 | 138,900,000 | 117,909,000 | 117,909,000 | 118,865,000 | 158,457,000 | 158,457,000 | 155,935,000 | 155,935,000 | 126,840,000 | 126,840,000 | 105,118,000 | 105,118,000 | 75,974,000 | 76,347,000 | 95,750,000 | 95,750,000 | 92,333,000 | 92,333,000 | 88,886,000 | 88,886,000 | 95,145,000 | 96,895,000 | 96,895,000 | 94,195,000 | 94,195,000 | |
service inventories | 96,206,000 | 94,834,000 | 97,771,000 | 97,771,000 | 98,892,000 | 98,892,000 | 101,419,000 | 101,419,000 | 96,772,000 | 96,772,000 | 100,018,000 | 100,018,000 | 95,866,000 | 95,866,000 | 98,434,000 | 98,434,000 | 110,521,000 | 100,757,000 | 100,757,000 | 103,305,000 | 103,305,000 | 95,789,000 | 94,263,000 | 94,263,000 | 94,415,000 | 94,415,000 | 91,764,000 | 91,764,000 | 84,115,000 | 84,115,000 | 78,841,000 | 78,841,000 | 72,341,000 | 72,341,000 | 65,057,000 | 65,057,000 | 60,589,000 | 60,589,000 | 58,151,000 | |||||
prepaid assets | 9,706,000 | 13,237,000 | 16,677,000 | 16,677,000 | 16,960,000 | 16,960,000 | 9,400,000 | 9,400,000 | 10,146,000 | 10,146,000 | 15,988,000 | 15,988,000 | 16,835,000 | 16,835,000 | 9,238,000 | 9,238,000 | 337,000 | 20,068,000 | 20,068,000 | 13,238,000 | 13,238,000 | 13,600,000 | 11,320,000 | 11,480,000 | 8,267,000 | 8,267,000 | 9,412,000 | 9,412,000 | 9,200,000 | 9,200,000 | 9,590,000 | 9,590,000 | 11,083,000 | 11,083,000 | 9,306,000 | 9,306,000 | 6,963,000 | 6,963,000 | 6,937,000 | |||||
retention withholdings | 26,214,000 | 33,125,000 | 18,581,000 | 18,581,000 | 15,910,000 | 15,910,000 | 22,238,000 | 22,238,000 | 31,072,000 | 31,072,000 | 23,204,000 | 23,204,000 | 30,513,000 | 30,513,000 | 48,419,000 | 48,419,000 | 34,268,000 | 43,199,000 | 43,199,000 | 46,384,000 | 46,384,000 | 30,925,000 | 36,773,000 | 36,773,000 | 27,089,000 | 27,089,000 | 49,671,000 | 49,671,000 | 38,475,000 | 38,475,000 | 40,970,000 | 40,970,000 | 29,689,000 | 29,689,000 | 27,887,000 | 27,887,000 | 22,657,000 | 22,657,000 | 22,011,000 | |||||
other receivables | 54,753,000 | 54,511,000 | 63,264,000 | 63,264,000 | 45,206,000 | 45,206,000 | 42,573,000 | 42,573,000 | 38,476,000 | 38,476,000 | 31,765,000 | 31,765,000 | 31,747,000 | 31,747,000 | 39,778,000 | 39,778,000 | 38,271,000 | 23,942,000 | 23,942,000 | 17,483,000 | 19,327,000 | 18,798,000 | 19,094,000 | 18,454,000 | 19,381,000 | 19,381,000 | 14,923,000 | 14,923,000 | 17,667,000 | 17,667,000 | 14,019,000 | 14,019,000 | 10,842,000 | 10,842,000 | 22,278,000 | 22,278,000 | ||||||||
other current assets | 10,513,000 | 10,664,000 | 10,798,000 | 10,798,000 | 5,469,000 | 5,469,000 | 5,646,000 | 5,646,000 | 7,095,000 | 7,095,000 | 13,604,000 | 13,604,000 | 9,894,000 | 9,894,000 | 10,759,000 | 10,759,000 | 16,669,000 | 7,391,000 | 7,391,000 | 3,695,000 | 3,695,000 | 4,712,000 | 4,025,000 | 3,943,000 | 5,522,000 | 5,522,000 | 5,158,000 | 5,158,000 | 5,650,000 | 5,650,000 | 6,800,000 | 11,442,000 | 10,062,000 | 10,062,000 | 9,439,000 | 9,439,000 | 30,636,000 | 30,636,000 | 29,873,000 | 47,142,000 | 47,142,000 | 32,957,000 | 32,957,000 | |
total current assets | 689,621,000 | 630,374,000 | 595,876,000 | 595,876,000 | 619,921,000 | 619,921,000 | 554,848,000 | 554,848,000 | 540,516,000 | 540,516,000 | 577,154,000 | 577,154,000 | 560,770,000 | 560,770,000 | 541,715,000 | 541,715,000 | 537,814,000 | 533,498,000 | 533,498,000 | 484,571,000 | 486,415,000 | 499,466,000 | 516,252,000 | 515,217,000 | 489,815,000 | 489,815,000 | 490,539,000 | 490,539,000 | 415,862,000 | 415,862,000 | 398,414,000 | 403,209,000 | 380,219,000 | 380,219,000 | 398,674,000 | 398,674,000 | 314,786,000 | 314,786,000 | 299,645,000 | 354,120,000 | 354,120,000 | 314,320,000 | 314,320,000 | 272,264 |
non-current assets | ||||||||||||||||||||||||||||||||||||||||||||
property, plant and equipment | 476,154,000 | 465,454,000 | 437,234,000 | 437,234,000 | 423,856,000 | 423,856,000 | 426,007,000 | 426,007,000 | 438,146,000 | 438,146,000 | 425,133,000 | 425,133,000 | 423,251,000 | 423,251,000 | 442,666,000 | 442,666,000 | 461,061,000 | 466,732,000 | 466,732,000 | 452,453,000 | 452,453,000 | 423,649,000 | 434,374,000 | 437,743,000 | 458,505,000 | 458,505,000 | 458,161,000 | 458,161,000 | 426,064,000 | 426,064,000 | 417,683,000 | 419,307,000 | 383,485,000 | 383,485,000 | 354,034,000 | 354,034,000 | 336,468,000 | 336,468,000 | 328,727,000 | 304,727,000 | 304,727,000 | 324,379,000 | 324,379,000 | |
intangible assets | 42,434,000 | 47,086,000 | 51,739,000 | 51,739,000 | 56,391,000 | 56,391,000 | 61,044,000 | 61,044,000 | 65,696,000 | 65,696,000 | 70,349,000 | 70,349,000 | 75,001,000 | 75,001,000 | 84,304,000 | 84,304,000 | 102,914,000 | 126,323,000 | 126,323,000 | 131,424,000 | 131,424,000 | 106,396,000 | 110,376,000 | 110,376,000 | 115,198,000 | 115,198,000 | 119,206,000 | 119,206,000 | 118,879,000 | 118,879,000 | 122,714,000 | 122,714,000 | 126,548,000 | 126,548,000 | 130,383,000 | 130,383,000 | 134,218,000 | 134,218,000 | 138,052,000 | 140,894,000 | 140,894,000 | 176,474,000 | 176,474,000 | |
goodwill | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,096,000 | 645,096,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 645,095,000 | 629,675,000 | 629,675,000 | 628,752,000 | 628,752,000 | 620,921,000 | 619,778,000 | 620,921,000 | 596,857,000 | 596,857,000 | 595,706,000 | 595,706,000 | 574,764,000 | 574,764,000 | 574,764,000 | 574,764,000 | 574,764,000 | 574,764,000 | 574,764,000 | 574,764,000 | 570,540,000 | 570,540,000 | 570,540,000 | 532,441,000 | 532,441,000 | 475,663,000 | 475,663,000 | |
operating lease right-of-use assets | 25,977,000 | 20,300,000 | 22,410,000 | 22,410,000 | 23,682,000 | 23,682,000 | 24,863,000 | 24,863,000 | 26,042,000 | 26,042,000 | 27,672,000 | 27,672,000 | 27,395,000 | 27,395,000 | 31,628,000 | 31,628,000 | 29,970,000 | |||||||||||||||||||||||||||
other assets | 44,649,000 | 43,210,000 | 56,769,000 | 56,769,000 | 58,145,000 | 58,145,000 | 57,465,000 | 57,465,000 | 58,183,000 | 58,183,000 | 57,445,000 | 57,445,000 | 57,842,000 | 57,842,000 | 52,332,000 | 52,332,000 | 51,473,000 | 10,156,000 | 10,156,000 | 7,853,000 | 7,853,000 | 3,050,000 | 2,797,000 | 2,797,000 | 3,069,000 | 3,069,000 | 1,278,000 | 1,278,000 | 1,083,000 | 1,083,000 | 1,105,000 | 2,370,000 | 2,801,000 | 2,801,000 | 3,272,000 | 3,272,000 | 4,166,000 | 4,166,000 | 6,345,000 | 8,836,000 | 8,836,000 | 10,021,000 | 10,021,000 | |
total assets | 1,923,930,000 | 1,851,519,000 | 1,809,123,000 | 1,809,123,000 | 1,827,090,000 | 1,827,090,000 | 1,769,323,000 | 1,769,323,000 | 1,773,678,000 | 1,773,678,000 | 1,802,848,000 | 1,802,848,000 | 1,789,354,000 | 1,789,354,000 | 1,797,740,000 | 1,797,740,000 | 1,828,327,000 | 1,766,384,000 | 1,766,384,000 | 1,705,053,000 | 1,706,897,000 | 1,653,482,000 | 1,683,577,000 | 1,687,054,000 | 1,663,444,000 | 1,663,444,000 | 1,664,890,000 | 1,664,890,000 | 1,536,652,000 | 1,536,652,000 | 1,514,680,000 | 1,522,364,000 | 1,467,817,000 | 1,467,817,000 | 1,461,127,000 | 1,461,127,000 | 1,360,178,000 | 1,360,178,000 | 1,343,309,000 | 1,341,018,000 | 1,341,018,000 | 1,300,857,000 | 1,300,857,000 | 231,530,499 |
liabilities and equity | ||||||||||||||||||||||||||||||||||||||||||||
liabilities | ||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued expenses | 483,048,000 | 421,064,000 | 356,414,000 | 356,414,000 | 352,617,000 | 352,617,000 | 306,626,000 | 306,626,000 | 305,308,000 | 305,308,000 | 350,582,000 | 350,582,000 | 373,387,000 | 373,387,000 | 351,240,000 | 351,240,000 | 353,536,000 | 5,437,191 | ||||||||||||||||||||||||||
current installments of long-term debt | 64,500,000 | 64,500,000 | 64,500,000 | 64,500,000 | 65,912,000 | 65,912,000 | 67,323,000 | 67,323,000 | 68,735,000 | 68,735,000 | 70,546,000 | 70,546,000 | 70,945,000 | 70,945,000 | 71,744,000 | 71,744,000 | 53,352,000 | 54,077,000 | 54,077,000 | 54,077,000 | 50,327,000 | 47,500,000 | 47,500,000 | 43,750,000 | 43,750,000 | 46,372,000 | 46,372,000 | 22,500,000 | 22,500,000 | 15,000,000 | 15,000,000 | 7,500,000 | 7,500,000 | |||||||||||
short-term borrowings | 47,353,000 | 54,250,000 | 61,269,000 | 61,269,000 | 65,997,000 | 65,997,000 | 60,350,000 | 60,350,000 | 59,720,000 | 59,720,000 | 54,587,000 | 54,587,000 | 34,797,000 | 34,797,000 | 48,889,000 | 48,889,000 | 89,885,000 | 96,468,000 | 96,468,000 | 59,709,000 | 59,709,000 | 42,110,000 | 42,360,000 | 42,360,000 | 36,392,000 | 36,392,000 | 39,781,000 | 39,781,000 | 39,569,000 | 39,569,000 | 37,963,000 | 37,963,000 | 28,261,000 | 28,261,000 | 5,267,000 | 5,267,000 | 24,448,000 | 24,448,000 | 31,817,000 | 71,940,000 | 71,940,000 | 118,411,000 | 118,411,000 | |
income taxes payable | 30,843,000 | 25,092,000 | 8,012,000 | 8,012,000 | 7,728,000 | 7,728,000 | 2,331,000 | 2,331,000 | 4,219,000 | 4,219,000 | 8,421,000 | 8,421,000 | 7,262,000 | 9,272,000 | 9,272,000 | 5,628,000 | 7,472,000 | 10,941,000 | 9,539,000 | 9,420,000 | 6,809,000 | 9,336,000 | 9,138,000 | 9,138,000 | 7,558,000 | 7,558,000 | 6,432,000 | 7,542,000 | 5,015,000 | 5,015,000 | 3,584,000 | 3,584,000 | 10,609,000 | 10,609,000 | 10,991,000 | |||||||||
other taxes payable | 15,152,000 | 12,351,000 | 26,223,000 | 26,223,000 | 31,166,000 | 31,166,000 | 25,195,000 | 25,195,000 | 27,482,000 | 27,482,000 | 5,434,000 | 5,434,000 | 6,215,000 | 6,215,000 | 14,674,000 | 14,674,000 | 7,604,000 | 2,142,000 | 2,142,000 | 5,095,000 | 5,095,000 | 13,992,000 | 11,289,000 | 11,289,000 | 11,466,000 | 11,466,000 | 9,067,000 | 9,067,000 | 4,502,000 | 4,502,000 | 7,189,000 | 7,189,000 | 4,545,000 | 4,545,000 | 14,202,000 | 14,202,000 | ||||||||
operating lease liabilities | 1,984,000 | 2,948,000 | 3,737,000 | 3,737,000 | 4,850,000 | 4,850,000 | 5,268,000 | 5,268,000 | 5,449,000 | 5,449,000 | 5,971,000 | 5,971,000 | 5,313,000 | 5,313,000 | 7,406,000 | 7,406,000 | 6,263,000 | |||||||||||||||||||||||||||
other current liabilities | 17,408,000 | 24,715,000 | 30,354,000 | 30,354,000 | 37,558,000 | 37,558,000 | 29,795,000 | 29,795,000 | 29,090,000 | 29,090,000 | 33,770,000 | 33,770,000 | 29,004,000 | 29,004,000 | 31,073,000 | 31,073,000 | 26,166,000 | 48,256,000 | 48,256,000 | 49,542,000 | 49,542,000 | 25,022,000 | 30,926,000 | 30,400,000 | 37,685,000 | 37,685,000 | 71,662,000 | 53,272,000 | 26,885,000 | 26,885,000 | 25,448,000 | 25,601,000 | 4,672,000 | 4,672,000 | 6,460,000 | 6,460,000 | 18,345,000 | 18,345,000 | 29,929,000 | 37,933,000 | 37,933,000 | 39,909,000 | 39,909,000 | |
total current liabilities | 660,288,000 | 604,920,000 | 542,497,000 | 542,497,000 | 558,100,000 | 558,100,000 | 502,569,000 | 502,569,000 | 503,512,000 | 503,512,000 | 523,221,000 | 523,221,000 | 523,880,000 | 523,880,000 | 533,447,000 | 533,447,000 | 544,068,000 | 423,016,000 | 368,939,000 | 352,942,000 | 354,786,000 | 327,087,000 | 356,262,000 | 359,366,000 | 334,961,000 | 337,488,000 | 348,626,000 | 330,236,000 | 243,877,000 | 243,877,000 | 223,427,000 | 228,136,000 | 187,367,000 | 187,367,000 | 169,012,000 | 169,012,000 | 228,965,000 | 228,965,000 | 223,080,000 | 236,381,000 | 236,381,000 | 312,854,000 | 312,854,000 | 5,438,180 |
long-term debt | 175,542,000 | 191,378,000 | 207,180,000 | 207,180,000 | 222,916,000 | 222,916,000 | 238,651,000 | 238,651,000 | 254,387,000 | 254,387,000 | 284,183,000 | 284,183,000 | 301,331,000 | 301,331,000 | 331,565,000 | 331,565,000 | 391,863,000 | 276,492,000 | 330,569,000 | 287,483,000 | 287,483,000 | 298,480,000 | 308,614,000 | 308,614,000 | 319,738,000 | 319,738,000 | 335,457,000 | 335,457,000 | 323,244,000 | 323,244,000 | 330,564,000 | 330,564,000 | 337,885,000 | 337,885,000 | 361,234,000 | |||||||||
deferred tax liabilities | 918,000 | 1,691,000 | 4,321,000 | 4,321,000 | 5,337,000 | 5,337,000 | 5,748,000 | 5,748,000 | 5,632,000 | 5,632,000 | 17,148,000 | 17,148,000 | 19,447,000 | 19,447,000 | 20,176,000 | 21,600,000 | 21,070,000 | 23,691,000 | 22,885,000 | 24,090,000 | 24,090,000 | 24,139,000 | 24,960,000 | 20,908,000 | 26,217,000 | 29,322,000 | 29,322,000 | 29,967,000 | 29,967,000 | 29,763,000 | 29,763,000 | 30,756,000 | ||||||||||||
employee benefit liabilities | 36,971,000 | 36,321,000 | 34,936,000 | 34,936,000 | 33,989,000 | 33,989,000 | 33,296,000 | 33,296,000 | 31,806,000 | 31,806,000 | 32,458,000 | 32,458,000 | 31,846,000 | 31,846,000 | 28,935,000 | 28,935,000 | 24,382,000 | 25,203,000 | 25,203,000 | 23,520,000 | 23,520,000 | 22,066,000 | 21,515,000 | 21,515,000 | 19,438,000 | 19,438,000 | 18,900,000 | 18,900,000 | 17,784,000 | 17,784,000 | 16,745,000 | |||||||||||||
non-current operating lease liabilities | 22,683,000 | 18,447,000 | 19,755,000 | 19,755,000 | 19,839,000 | 19,839,000 | 19,996,000 | 19,996,000 | 20,843,000 | 20,843,000 | 22,547,000 | 22,547,000 | 21,597,000 | 21,597,000 | 25,145,000 | 25,145,000 | 25,051,000 | |||||||||||||||||||||||||||
other liabilities | 32,319,000 | 30,846,000 | 43,783,000 | 43,783,000 | 50,005,000 | 50,005,000 | 48,584,000 | 48,584,000 | 49,266,000 | 49,266,000 | 66,891,000 | 66,891,000 | 59,312,000 | 59,312,000 | 57,154,000 | 57,154,000 | 40,615,000 | 35,695,000 | 35,695,000 | 37,515,000 | 37,515,000 | 14,736,000 | 31,168,000 | 32,071,000 | 39,645,000 | 37,924,000 | 25,586,000 | 43,976,000 | 28,105,000 | 27,284,000 | 36,564,000 | 34,230,000 | 17,409,000 | 17,409,000 | 18,576,000 | 18,576,000 | 32,402,000 | 32,402,000 | 33,310,000 | 26,126,000 | 26,126,000 | 25,095,000 | 25,095,000 | |
total liabilities | 928,721,000 | 883,603,000 | 852,472,000 | 852,472,000 | 890,186,000 | 890,186,000 | 848,844,000 | 848,844,000 | 865,446,000 | 865,446,000 | 929,300,000 | 929,300,000 | 937,966,000 | 937,966,000 | 976,246,000 | 976,246,000 | 1,025,979,000 | 777,554,000 | 777,554,000 | 720,907,000 | 722,751,000 | 682,545,000 | 739,159,000 | 742,636,000 | 737,473,000 | 737,473,000 | 752,659,000 | 752,659,000 | 637,149,000 | 637,149,000 | 628,208,000 | 635,892,000 | 586,665,000 | 586,665,000 | 593,028,000 | 593,028,000 | 504,791,000 | 504,791,000 | 512,318,000 | 529,471,000 | 529,471,000 | 508,839,000 | 508,839,000 | 14,456,395 |
commitments and contingencies | ||||||||||||||||||||||||||||||||||||||||||||
equity | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at march 31, 2026, and december 31, 2025, respectively | ||||||||||||||||||||||||||||||||||||||||||||
ordinary shares and additional paid-in capital, no par value; unlimited shares authorized; 100,847,255 and 100,787,173 shares issued and outstanding at march 31, 2026, and december 31, 2025, respectively | 906,311,000 | |||||||||||||||||||||||||||||||||||||||||||
retained income | 88,829,000 | 65,002,000 | 13,870,000 | 13,870,000 | ||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 97,000 | 97,000 | 97,000 | 97,000 | 97,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 58,000 | 58,000 | 29,000 | 29,000 | 29,000 | 29,000 | 29,000 | 29,000 | 48,000 | 48,000 | 48,000 | |||||
total equity | 995,209,000 | 967,916,000 | 956,651,000 | 956,651,000 | 936,904,000 | 936,904,000 | 920,479,000 | 920,479,000 | 908,232,000 | 908,232,000 | 873,548,000 | 873,548,000 | 851,388,000 | 851,388,000 | 821,494,000 | 821,494,000 | 802,348,000 | 988,830,000 | 988,830,000 | 984,146,000 | 984,146,000 | 970,937,000 | 944,418,000 | 944,418,000 | 925,971,000 | 925,971,000 | 912,231,000 | 912,231,000 | 899,503,000 | 899,503,000 | 886,472,000 | 886,472,000 | 881,152,000 | 881,152,000 | 868,099,000 | 868,099,000 | 855,387,000 | 855,387,000 | 830,991,000 | 811,547,000 | 811,547,000 | 792,018,000 | 792,018,000 | |
total liabilities and equity | 1,923,930,000 | 1,851,519,000 | 1,809,123,000 | 1,809,123,000 | 1,827,090,000 | 1,827,090,000 | 1,769,323,000 | 1,769,323,000 | 1,773,678,000 | 1,773,678,000 | 1,802,848,000 | 1,802,848,000 | 1,789,354,000 | 1,789,354,000 | 1,797,740,000 | 1,797,740,000 | 1,828,327,000 | 1,766,384,000 | 1,766,384,000 | 1,705,053,000 | 1,706,897,000 | 1,653,482,000 | 1,683,577,000 | 1,687,054,000 | 1,663,444,000 | 1,663,444,000 | 1,664,890,000 | 1,664,890,000 | 1,536,652,000 | 1,536,652,000 | 1,514,680,000 | 1,522,364,000 | 1,467,817,000 | 1,467,817,000 | 1,461,127,000 | 1,461,127,000 | 1,360,178,000 | 1,360,178,000 | 1,343,309,000 | 1,341,018,000 | 1,341,018,000 | 1,300,857,000 | 1,300,857,000 | |
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at december 31, 2025, and 2024, respectively | ||||||||||||||||||||||||||||||||||||||||||||
common shares, ... | 902,845,000 | 899,383,000 | 899,383,000 | 897,373,000 | 897,373,000 | 896,149,000 | 896,149,000 | 894,293,000 | 894,293,000 | 886,446,000 | 886,446,000 | 884,904,000 | 884,904,000 | 883,865,000 | 883,865,000 | 877,299,000 | 854,301,000 | 854,301,000 | 851,548,000 | 851,548,000 | 846,160,000 | 826,614,000 | 826,614,000 | |||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at september 30, 2025, and december 31, 2024, respectively | ||||||||||||||||||||||||||||||||||||||||||||
retained earnings | 57,199,000 | 57,199,000 | 39,462,000 | 39,462,000 | 134,440,000 | 134,440,000 | 132,509,000 | 132,509,000 | 124,688,000 | 117,748,000 | 117,748,000 | 101,230,000 | 101,230,000 | 89,564,000 | 89,564,000 | 79,028,000 | 79,028,000 | 67,661,000 | 67,661,000 | 63,937,000 | 63,937,000 | 52,827,000 | 52,827,000 | 41,472,000 | 41,472,000 | 28,297,000 | 8,745,000 | 8,745,000 | -7,362,000 | -7,362,000 | ||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at june 30, 2025, and december 31, 2024, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at march 31, 2025 and december 31, 2024, respectively | ||||||||||||||||||||||||||||||||||||||||||||
retained | 24,261,000 | 24,261,000 | -12,967,000 | -12,967,000 | -33,585,000 | -33,585,000 | -62,440,000 | |||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at march 31, 2025, and december 31, 2024, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at december 31, 2024 and december 31, 2023, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at september 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at june 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at december 31, 2023 and december 31, 2022, respectively | ||||||||||||||||||||||||||||||||||||||||||||
retained (deficit) / earnings | -62,440,000 | -75,020,000 | ||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at december 31, 2022 and december 31, 2021, respectively | ||||||||||||||||||||||||||||||||||||||||||||
total shareholders’ equity | 802,348,000 | 988,838,000 | 988,838,000 | 984,154,000 | 984,154,000 | 970,945,000 | 944,426,000 | 944,426,000 | 925,915,000 | 925,915,000 | 912,172,000 | 912,172,000 | 899,503,000 | 899,503,000 | 886,472,000 | 886,472,000 | 881,152,000 | 881,152,000 | 868,099,000 | 868,099,000 | 855,387,000 | 855,387,000 | 830,924,000 | 810,622,000 | 810,622,000 | 794,183,000 | 794,183,000 | 52,272,779 | ||||||||||||||||
non-controlling interests | -8,000 | -8,000 | -8,000 | -8,000 | -8,000 | -8,000 | -8,000 | 56,000 | 56,000 | 59,000 | 59,000 | 67,000 | 925,000 | 925,000 | -2,165,000 | -2,165,000 | ||||||||||||||||||||||||||||
accounts payable | 143,753,000 | 143,753,000 | 138,914,000 | 138,914,000 | 137,751,000 | 141,021,000 | 144,614,000 | 147,268,000 | 147,268,000 | 123,213,000 | 123,213,000 | 91,662,000 | 91,662,000 | 60,907,000 | 65,704,000 | 65,108,000 | 65,108,000 | 68,235,000 | 68,235,000 | 81,350,000 | 81,350,000 | 66,264,000 | 54,345,000 | 54,345,000 | 75,244,000 | 75,244,000 | ||||||||||||||||||
accrued expenses | 69,048,000 | 69,048,000 | 39,977,000 | 39,977,000 | 46,944,000 | 73,627,000 | 73,783,000 | 51,591,000 | 51,591,000 | 49,393,000 | 49,393,000 | 51,201,000 | 51,201,000 | 70,488,000 | 69,137,000 | 72,266,000 | 72,266,000 | 71,264,000 | 71,264,000 | 48,524,000 | 48,524,000 | 38,986,000 | 55,795,000 | 55,795,000 | 62,922,000 | 62,922,000 | ||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at september 30, 2021 and december 31, 2020, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at june 30, 2021 and december 31, 2020, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at march 31, 2021 and december 31, 2020, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at december 31, 2020 and december 31, 2019, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at september 30, 2020 and december 31, 2019, respectively | ||||||||||||||||||||||||||||||||||||||||||||
common stock | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | 801,545,000 | ||||||||||||||||||||||||||||||||
additional paid in capital | 23,076,000 | 23,076,000 | 20,999,000 | 20,999,000 | 18,872,000 | 18,872,000 | 17,237,000 | 17,237,000 | 15,641,000 | 15,641,000 | 13,698,000 | 13,698,000 | 12,322,000 | 12,322,000 | 1,034,000 | 331,000 | 331,000 | |||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at june 30, 2020 and december 31, 2019, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at march 31, 2020 and december 31, 2019, respectively | ||||||||||||||||||||||||||||||||||||||||||||
pension benefit liabilities | 16,745,000 | 14,682,000 | 14,682,000 | 14,239,000 | 14,239,000 | |||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at december 31, 2019 and december 31, 2018, respectively | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at september 30, 2019 and december 31, 2018, respectively | ||||||||||||||||||||||||||||||||||||||||||||
current portion of loans and borrowings | 45,689,000 | 45,689,000 | 45,093,000 | 16,368,000 | 16,368,000 | 16,368,000 | 16,368,000 | |||||||||||||||||||||||||||||||||||||
loans and borrowings | 361,234,000 | 213,661,000 | 213,661,000 | 225,172,000 | 266,964,000 | 266,964,000 | 170,890,000 | 170,890,000 | ||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at june 30, 2019 or december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding at june 30, 2019 | ||||||||||||||||||||||||||||||||||||||||||||
commitments | ||||||||||||||||||||||||||||||||||||||||||||
successor preferred shares, no par value; unlimited shares authorized; none issued and outstanding at march 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||
successor common stock, no par value; unlimited shares authorized; 86,896,779 shares issued and outstanding at march 31, 2019 | 801,545,000 | 801,545,000 | ||||||||||||||||||||||||||||||||||||||||||
predecessor convertible redeemable shares | ||||||||||||||||||||||||||||||||||||||||||||
predecessor common stock, par value 1; 370,000,000 shares authorized; 342,250,000 shares issued and outstanding at march 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||
short term deposit with bank | ||||||||||||||||||||||||||||||||||||||||||||
successor preferred shares, no par value; unlimited shares authorized; none issued and outstanding at december 31, 2018. | ||||||||||||||||||||||||||||||||||||||||||||
successor common stock, no par value; unlimited shares authorized; 85,562,769 shares issued and outstanding at december 31, 2018 | 801,545,000 | |||||||||||||||||||||||||||||||||||||||||||
predecessor common stock, par value 1; 370,000,000 shares authorized; 342,250,000 shares issued and outstanding at december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
inventories | 65,765,000 | 65,765,000 | 63,503,000 | 63,503,000 | ||||||||||||||||||||||||||||||||||||||||
successor preferred shares, no par value; unlimited shares authorized; none issued and outstanding predecessor common stock, par value 1; 370,000,000 shares authorized; 342,250,000 shares issued and outstanding at december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||
successor common stock, no par value; unlimited shares authorized; 85,562,769 shares issued and outstanding at september 30, 2018 | 801,546,000 | 801,546,000 | ||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive | ||||||||||||||||||||||||||||||||||||||||||||
successor preferred shares, no par value; unlimited shares authorized; none issued and outstanding | ||||||||||||||||||||||||||||||||||||||||||||
successor common stock, no par value; unlimited shares authorized; 85,562,769 shares issued and outstanding at june 30, 2018 | 801,545,000 | 801,545,000 | ||||||||||||||||||||||||||||||||||||||||||
cash | 120,476 | |||||||||||||||||||||||||||||||||||||||||||
prepaid expenses | 151,788 | |||||||||||||||||||||||||||||||||||||||||||
cash and marketable securities held in trust account | 231,258,235 | |||||||||||||||||||||||||||||||||||||||||||
liabilities and shareholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||
current liabilities | ||||||||||||||||||||||||||||||||||||||||||||
advance from related party | 989 | |||||||||||||||||||||||||||||||||||||||||||
deferred underwriting fees | 9,018,215 | |||||||||||||||||||||||||||||||||||||||||||
ordinary shares subject to possible redemption, 16,921,700 shares at redemption value at march 31, 2018 and december 31, 2017 | 164,801,325 | |||||||||||||||||||||||||||||||||||||||||||
shareholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||
preferred shares, no par value; unlimited shares authorized; none issued and outstanding | ||||||||||||||||||||||||||||||||||||||||||||
ordinary shares, no par value; unlimited shares authorized; 11,730,425 shares issued and outstanding (excluding 16,921,700 shares subject to possible redemption) at march 31, 2018 and december 31, 2017 | 56,988,517 | |||||||||||||||||||||||||||||||||||||||||||
accumulated deficit | -4,715,738 | |||||||||||||||||||||||||||||||||||||||||||
total liabilities and shareholders’ equity | 231,530,499 | |||||||||||||||||||||||||||||||||||||||||||
1 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-11-13 | 2025-09-30 | 2025-08-20 | 2025-06-30 | 2025-06-03 | 2025-03-31 | 2024-11-19 | 2024-09-30 | 2024-08-29 | 2024-06-30 | 2021-11-03 | 2021-09-30 | 2021-08-04 | 2021-06-30 | 2021-03-31 | 2021-02-24 | 2020-10-28 | 2020-09-30 | 2020-08-04 | 2020-06-30 | 2020-05-06 | 2020-03-31 | 2019-11-06 | 2019-09-30 | 2019-08-07 | 2019-06-30 | 2019-05-13 | 2019-03-31 | 2018-11-08 | 2018-09-30 | 2018-08-20 | 2018-06-30 | 2018-03-31 | 2017-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
description | |||||||||||||||||||||||||||||||||||
cash flows from operating activities: | |||||||||||||||||||||||||||||||||||
net income | 23,827,000 | 43,329,000 | 43,329,000 | 25,592,000 | 25,592,000 | 10,391,000 | 10,391,000 | 49,473,000 | 49,473,000 | 28,855,000 | 28,855,000 | 21,224,000 | 21,224,000 | 19,293,000 | 19,293,000 | 11,472,000 | 50,087,000 | 33,569,000 | 33,569,000 | 21,903,000 | 21,903,000 | 11,367,000 | 11,367,000 | 35,640,000 | 35,640,000 | 24,530,000 | 24,530,000 | 13,174,000 | 13,174,000 | 12,190,000 | 12,190,000 | -3,965,000 | -3,965,000 | -1,851,707 | 262,373 |
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||||||||
depreciation and amortization | 33,779,000 | 106,480,000 | 106,480,000 | 71,912,000 | 71,912,000 | 36,035,000 | 36,035,000 | 103,176,000 | 103,176,000 | 68,819,000 | 68,819,000 | 96,338,000 | 96,338,000 | 62,320,000 | 62,320,000 | 30,211,000 | 120,778,000 | 91,783,000 | 91,783,000 | 59,585,000 | 59,585,000 | 29,224,000 | 29,224,000 | 59,728,000 | 59,728,000 | 38,476,000 | 38,476,000 | 18,564,000 | 18,564,000 | 24,155,000 | 24,155,000 | 6,460,000 | 6,460,000 | ||
share-based compensation expense | 2,502,000 | 5,747,000 | 5,747,000 | 3,578,000 | 3,578,000 | 1,856,000 | 1,856,000 | 3,568,000 | 3,568,000 | 2,026,000 | 2,026,000 | 7,353,000 | 7,353,000 | 4,600,000 | 4,600,000 | 1,561,000 | 7,832,000 | 5,842,000 | 5,842,000 | 3,760,000 | |||||||||||||||
loss on disposal of assets | -373,000 | -4,271,000 | -4,271,000 | -886,000 | -886,000 | -363,000 | -363,000 | 2,100,000 | 2,100,000 | 1,389,000 | -1,405,000 | 367,000 | 1,946,000 | 240,000 | 103,000 | ||||||||||||||||||||
non-cash interest expense | -192,000 | 983,000 | 983,000 | 531,000 | 531,000 | -143,000 | -143,000 | -1,646,000 | -1,646,000 | -2,088,000 | -2,088,000 | 537,000 | 537,000 | -51,000 | -271,000 | -118,000 | -118,000 | -125,000 | -125,000 | 92,000 | 92,000 | 1,361,000 | 1,361,000 | ||||||||||||
deferred tax expense | 1,132,000 | -1,497,000 | -1,497,000 | -431,000 | -431,000 | -1,239,000 | -2,142,000 | -2,142,000 | 1,196,000 | 1,196,000 | -3,922,000 | -3,922,000 | -1,623,000 | -4,617,000 | -2,526,000 | -3,332,000 | -2,126,000 | -2,078,000 | -1,257,000 | -1,733,000 | -1,733,000 | -1,077,000 | -1,077,000 | -897,000 | -897,000 | ||||||||||
allowance for doubtful receivables and unbilled revenue | 480,000 | ||||||||||||||||||||||||||||||||||
charges on obsolete service inventories | 853,000 | 1,161,000 | 1,161,000 | 920,000 | 920,000 | 920,000 | 920,000 | 2,294,000 | 2,294,000 | 1,648,000 | 1,648,000 | ||||||||||||||||||||||||
impairments and other charges | 1,492,000 | 1,492,000 | 1,492,000 | 1,492,000 | 1,118,000 | 1,118,000 | 1,583,000 | 1,583,000 | |||||||||||||||||||||||||||
other operating activities | 25,000 | 399,000 | 399,000 | 354,000 | 354,000 | 38,000 | 38,000 | 317,000 | 317,000 | -59,000 | -59,000 | 353,000 | 353,000 | 240,000 | 240,000 | 336,000 | 579,000 | -184,000 | -184,000 | 219,000 | 219,000 | 111,000 | 111,000 | -100,000 | -100,000 | -1,848,000 | -1,848,000 | -400,000 | -400,000 | 603,000 | 603,000 | ||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||
decrease in accounts receivable | -50,392,000 | -56,198,000 | -56,198,000 | -53,001,000 | -53,001,000 | -27,524,000 | -27,524,000 | 33,466,000 | 33,466,000 | 10,694,000 | 27,106,000 | 9,308,000 | -2,565,000 | 1,887,000 | -46,523,000 | -46,523,000 | -41,440,000 | 10,178,000 | 10,178,000 | 801,000 | |||||||||||||||
decrease in unbilled revenue | -50,154,000 | -14,600,000 | -14,600,000 | -2,901,000 | -2,901,000 | -18,339,000 | -18,339,000 | -45,887,000 | -45,887,000 | -49,019,000 | 20,909,000 | 41,900,000 | 39,592,000 | -74,455,000 | |||||||||||||||||||||
decrease in retention withholdings | 6,910,000 | 12,491,000 | 12,491,000 | 15,162,000 | 15,162,000 | 8,834,000 | 8,834,000 | 25,215,000 | 25,215,000 | 17,906,000 | -6,186,000 | -9,611,000 | 5,847,000 | 6,367,000 | |||||||||||||||||||||
decrease in inventories | -2,224,000 | -2,161,000 | -2,161,000 | -3,040,000 | -3,040,000 | -5,567,000 | -5,567,000 | -3,834,000 | -3,834,000 | 621,000 | -4,396,000 | -6,288,000 | -35,000 | ||||||||||||||||||||||
decrease in prepaid assets | 3,531,000 | 857,000 | 390,000 | 390,000 | |||||||||||||||||||||||||||||||
decrease in other current assets | 429,000 | -17,771,000 | -17,771,000 | -5,102,000 | -5,102,000 | -2,646,000 | -2,646,000 | 6,365,000 | 6,365,000 | 10,172,000 | -6,431,000 | 3,411,000 | -438,000 | ||||||||||||||||||||||
decrease in other long-term assets and liabilities | -1,934,000 | -2,142,000 | -516,000 | -5,933,000 | -2,140,000 | 5,403,000 | 5,403,000 | 702,000 | |||||||||||||||||||||||||||
increase in accounts payable and accrued expenses | 61,419,000 | 63,923,000 | 63,923,000 | 64,509,000 | 64,509,000 | 15,094,000 | 15,094,000 | 15,797,000 | 15,797,000 | 43,218,000 | -20,087,000 | -32,038,000 | 55,323,000 | 40,970,000 | 40,970,000 | 23,185,000 | 23,185,000 | 11,433,000 | 11,433,000 | 23,971,000 | 23,971,000 | 20,009,000 | 20,009,000 | 14,325,000 | |||||||||||
increase in other current liabilities | 1,127,000 | -6,912,000 | -6,912,000 | 5,115,000 | 5,115,000 | -847,000 | -847,000 | -9,963,000 | -9,963,000 | -16,931,000 | -6,501,000 | -10,678,000 | 4,839,000 | 2,639,000 | -13,482,000 | -13,482,000 | -2,050,000 | 8,511,000 | 8,511,000 | -2,341,000 | -2,341,000 | ||||||||||||||
net cash from operating activities | 30,745,000 | 125,652,000 | 125,652,000 | 118,971,000 | 118,971,000 | 20,485,000 | 20,485,000 | 183,069,000 | 183,069,000 | 112,281,000 | 112,281,000 | 114,772,000 | 114,772,000 | 79,471,000 | 79,471,000 | 46,482,000 | 86,054,000 | 86,054,000 | 52,599,000 | 52,599,000 | 9,949,000 | 9,949,000 | 24,172,000 | 24,172,000 | 24,832,000 | 24,832,000 | 14,431,000 | 14,431,000 | 14,324,000 | -620,620 | |||||
cash flows from investing activities: | |||||||||||||||||||||||||||||||||||
capital expenditures | -36,004,000 | -100,620,000 | -100,620,000 | -59,867,000 | -59,867,000 | -30,124,000 | -30,124,000 | -80,053,000 | -80,053,000 | -52,698,000 | -52,698,000 | -50,864,000 | -50,864,000 | -32,568,000 | 0 | 0 | -75,448,000 | -75,448,000 | -50,661,000 | -50,661,000 | -23,542,000 | -23,542,000 | -56,513,000 | -56,513,000 | -8,469,000 | -8,469,000 | -16,169,000 | -16,169,000 | -2,157,000 | 0 | |||||
free cash flows | -5,259,000 | 25,032,000 | 25,032,000 | 59,104,000 | 59,104,000 | -9,639,000 | -9,639,000 | 103,016,000 | 103,016,000 | 59,583,000 | 59,583,000 | 63,908,000 | 63,908,000 | 46,903,000 | 79,471,000 | 46,482,000 | 10,606,000 | 10,606,000 | 1,938,000 | 1,938,000 | -13,593,000 | -13,593,000 | -32,341,000 | -32,341,000 | 16,363,000 | 16,363,000 | -1,738,000 | -1,738,000 | 12,167,000 | -620,620 | |||||
ipm investments | |||||||||||||||||||||||||||||||||||
proceeds from disposal of assets | 402,000 | 2,086,000 | 2,086,000 | 1,438,000 | 1,438,000 | 637,000 | 637,000 | 929,000 | 929,000 | 156,000 | 156,000 | 2,127,000 | 2,127,000 | 784,000 | 784,000 | 652,000 | -1,363,000 | 1,490,000 | 1,490,000 | 1,277,000 | 1,277,000 | 1,125,000 | 1,125,000 | 1,273,000 | 1,273,000 | 717,000 | 717,000 | 4,432,000 | 4,432,000 | ||||||
other investing activities | -833,000 | -8,250,000 | -8,250,000 | -4,000,000 | -4,000,000 | -2,000,000 | -2,000,000 | -5,034,000 | -5,034,000 | -4,165,000 | -4,165,000 | -3,204,000 | -3,204,000 | -3,104,000 | -574,000 | -628,000 | -628,000 | -570,000 | -570,000 | -417,000 | -417,000 | -932,000 | -932,000 | -285,000 | -285,000 | 330,000 | 330,000 | 330,000 | 330,000 | ||||||
net cash from investing activities | -36,435,000 | -106,784,000 | -106,784,000 | -62,429,000 | -62,429,000 | -31,487,000 | -31,487,000 | -84,158,000 | -84,158,000 | -56,707,000 | -56,707,000 | -88,864,000 | -88,864,000 | -71,811,000 | -85,846,000 | -85,846,000 | -46,214,000 | -46,214,000 | -23,959,000 | -23,959,000 | -55,525,000 | -55,525,000 | -7,752,000 | -7,752,000 | -64,706,000 | -64,706,000 | -52,235,000 | -52,235,000 | |||||||
cash flows from financing activities: | |||||||||||||||||||||||||||||||||||
proceeds from long-term debt | 4,063,000 | 4,063,000 | 4,063,000 | 4,063,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 365,000,000 | 365,000,000 | 365,000,000 | |||||||||||||||||||||||
repayments of long-term debt | -16,125,000 | -52,610,000 | -52,610,000 | -35,073,000 | -35,073,000 | -17,537,000 | -17,537,000 | -53,810,000 | -53,810,000 | -35,872,000 | -35,872,000 | -26,250,000 | -26,250,000 | -15,000,000 | -25,972,000 | -18,472,000 | -18,472,000 | -285,048,000 | -285,048,000 | -278,039,000 | |||||||||||||||
proceeds from short-term borrowings | 19,587,000 | 75,711,000 | 75,711,000 | 53,464,000 | 53,464,000 | 26,841,000 | 26,841,000 | 58,738,000 | 58,738,000 | 24,276,000 | 24,276,000 | 121,806,000 | 121,806,000 | 58,394,000 | 58,394,000 | 19,154,000 | 33,753,000 | 14,928,000 | 14,928,000 | 3,999,000 | 3,999,000 | 39,941,000 | 39,941,000 | ||||||||||||
repayments of short-term borrowings | -26,498,000 | -74,217,000 | -74,217,000 | -47,031,000 | -47,031,000 | -26,252,000 | -26,252,000 | -53,140,000 | -53,140,000 | -38,513,000 | -38,513,000 | -67,644,000 | -67,644,000 | -40,938,000 | -27,433,000 | -15,829,000 | -15,829,000 | -7,131,000 | -7,131,000 | -2,980,000 | -2,980,000 | -44,250,000 | -44,250,000 | ||||||||||||
payments on capital leases | -1,000,000 | -2,778,000 | -2,778,000 | -1,427,000 | -1,427,000 | -710,000 | -710,000 | -1,432,000 | -1,432,000 | -507,000 | -507,000 | -15,983,000 | -15,983,000 | -10,117,000 | -19,581,000 | -15,679,000 | -15,679,000 | -11,180,000 | -11,180,000 | -5,642,000 | -5,642,000 | ||||||||||||||
payments on seller-provided financing for capital expenditures | -1,265,000 | -1,650,000 | -1,650,000 | -1,203,000 | -1,203,000 | -601,000 | -601,000 | -2,819,000 | -2,819,000 | -1,682,000 | -1,682,000 | -11,520,000 | -11,520,000 | -8,830,000 | -2,727,000 | -2,905,000 | -2,905,000 | -992,000 | -992,000 | -1,581,000 | -1,581,000 | ||||||||||||||
other financing activities | -1,597,000 | -1,597,000 | -1,426,000 | -1,426,000 | -163,000 | -163,000 | -163,000 | -163,000 | -345,000 | -345,000 | -141,000 | -5,703,000 | -5,703,000 | -3,825,000 | -3,825,000 | -43,000 | -43,000 | -5,792,000 | -5,792,000 | 1,185,000 | 1,185,000 | ||||||||||||||
net cash from financing activities | -25,301,000 | -57,141,000 | -57,141,000 | -32,696,000 | -32,696,000 | -18,259,000 | -18,259,000 | -48,563,000 | -48,563,000 | -48,398,000 | -48,398,000 | 64,000 | 64,000 | -16,632,000 | -22,957,000 | -22,957,000 | -304,000 | -304,000 | -10,203,000 | -10,203,000 | 62,890,000 | 76,123,000 | 76,123,000 | -22,037,000 | -22,037,000 | 117,789,000 | 117,789,000 | 74,766,000 | |||||||
effect of exchange rate changes on cash | 34,000 | 34,000 | 34,000 | 34,000 | 34,000 | 35,000 | 35,000 | 35,000 | 35,000 | 35,000 | 29,000 | 29,000 | -19,000 | -19,000 | -19,000 | -19,000 | |||||||||||||||||||
net increase in cash, cash equivalents, and restricted cash | -30,991,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | 132,696,000 | 107,956,000 | 107,956,000 | 107,956,000 | 107,956,000 | 107,956,000 | 107,956,000 | 67,821,000 | 67,821,000 | 67,821,000 | 67,821,000 | 75,012,000 | 75,012,000 | 75,012,000 | 75,012,000 | 75,012,000 | 73,201,000 | 73,201,000 | 73,201,000 | 73,201,000 | 73,201,000 | 73,201,000 | 73,201,000 | 24,892,000 | 24,892,000 | 24,892,000 | 24,892,000 | 24,892,000 | 24,892,000 | ||||||
cash, cash equivalents, and restricted cash, end of period | 101,705,000 | ||||||||||||||||||||||||||||||||||
deferred tax | -1,239,000 | 948,000 | 948,000 | ||||||||||||||||||||||||||||||||
supplemental disclosure of cash flow information | |||||||||||||||||||||||||||||||||||
interest paid | 7,579,000 | 4,696,000 | 2,459,000 | 12,667,000 | 10,152,000 | 7,467,000 | 3,970,000 | 13,396,000 | 13,396,000 | 8,317,000 | 8,317,000 | 4,043,000 | 4,043,000 | 3,724,000 | 3,724,000 | ||||||||||||||||||||
allowance for (reversal of) doubtful receivables | 694,000 | 694,000 | -782,000 | -782,000 | -16,000 | -16,000 | 5,306,000 | 5,306,000 | 4,323,000 | 4,323,000 | 70,000 | 70,000 | 286,000 | 286,000 | 79,000 | -97,000 | -97,000 | -26,000 | -26,000 | -50,000 | -50,000 | ||||||||||||||
decrease in prepaid expenses | -6,532,000 | -6,532,000 | -6,815,000 | -6,815,000 | 746,000 | 746,000 | -6,772,000 | -6,772,000 | -7,631,000 | -8,278,000 | -1,449,000 | -2,289,000 | 54,000 | 54,000 | 462,000 | ||||||||||||||||||||
change in other long-term assets and liabilities | -1,105,000 | -1,105,000 | 2,764,000 | 2,764,000 | 2,137,000 | 2,137,000 | 4,653,000 | 4,653,000 | -2,858,000 | -2,858,000 | |||||||||||||||||||||||||
net increase in cash | -38,273,000 | -38,273,000 | 23,846,000 | 23,846,000 | -29,261,000 | 50,348,000 | 50,348,000 | 7,176,000 | 7,176,000 | 26,006,000 | 26,006,000 | -8,938,000 | -8,938,000 | 14,256,000 | 1,816,000 | -22,714,000 | -22,714,000 | 6,116,000 | 6,116,000 | -24,184,000 | -24,184,000 | 44,751,000 | 44,751,000 | -4,957,000 | -4,957,000 | 67,514,000 | 67,514,000 | 36,855,000 | 36,855,000 | ||||||
cash and cash equivalents, end of period | 69,683,000 | 69,683,000 | 131,802,000 | 131,802,000 | 78,695,000 | 78,695,000 | 118,169,000 | 118,169,000 | 74,997,000 | 74,997,000 | 101,018,000 | 101,018,000 | 66,074,000 | 66,074,000 | 89,268,000 | 75,017,000 | 50,487,000 | 50,487,000 | 79,317,000 | 79,317,000 | 49,017,000 | 49,017,000 | 43,082,000 | 43,082,000 | 69,643,000 | 69,643,000 | 19,935,000 | 19,935,000 | |||||||
net (decrease) in cash | -29,261,000 | ||||||||||||||||||||||||||||||||||
earn-outs on business combinations | |||||||||||||||||||||||||||||||||||
(gain) on buyer stock adjustment amount | |||||||||||||||||||||||||||||||||||
acquisition of business, net of cash acquired | -36,923,000 | -36,923,000 | -36,923,000 | -13,218,000 | -11,260,000 | -11,260,000 | 3,740,000 | 3,740,000 | -285,081,000 | -285,081,000 | -282,190,000 | -282,190,000 | |||||||||||||||||||||||
income taxes paid | 11,430,000 | 8,100,000 | 1,136,000 | 15,641,000 | 12,642,000 | 6,196,000 | 5,800,000 | 16,583,000 | 16,583,000 | 13,890,000 | 13,890,000 | 3,479,000 | 3,479,000 | ||||||||||||||||||||||
loss / (gain) on disposal of assets | 1,389,000 | ||||||||||||||||||||||||||||||||||
(increase) decrease in accounts receivable | 10,694,000 | 27,106,000 | 9,308,000 | -41,440,000 | 801,000 | ||||||||||||||||||||||||||||||
(increase) decrease in unbilled revenue | -49,019,000 | 20,909,000 | 41,900,000 | ||||||||||||||||||||||||||||||||
(increase) decrease in retention withholdings | 17,906,000 | -6,186,000 | |||||||||||||||||||||||||||||||||
(increase) decrease in inventories | 621,000 | -4,396,000 | -2,440,000 | -2,440,000 | -35,000 | ||||||||||||||||||||||||||||||
(increase) decrease in prepaid expenses | -7,631,000 | -8,278,000 | -2,289,000 | 462,000 | |||||||||||||||||||||||||||||||
(increase) decrease in other current assets | 10,172,000 | -6,431,000 | 1,567,000 | ||||||||||||||||||||||||||||||||
increase (decrease) in accounts payable and accrued expenses | 43,218,000 | -20,087,000 | |||||||||||||||||||||||||||||||||
increase (decrease) in other current liabilities | -16,931,000 | -6,501,000 | -2,050,000 | -844,000 | -844,000 | ||||||||||||||||||||||||||||||
loss on private warrant liability | |||||||||||||||||||||||||||||||||||
loss on buyer stock adjustment amount | |||||||||||||||||||||||||||||||||||
provision for obsolete service inventories | 230,000 | 230,000 | 1,071,000 | 821,000 | 821,000 | 614,000 | 614,000 | 300,000 | 300,000 | 932,000 | 932,000 | 1,057,000 | 1,057,000 | 2,000 | 2,000 | ||||||||||||||||||||
loss (gain) on disposal of assets | -1,405,000 | 367,000 | 688,000 | 688,000 | 240,000 | 103,000 | |||||||||||||||||||||||||||||
loss (gain) on private warrant liability | |||||||||||||||||||||||||||||||||||
(increase) decrease in other long-term assets and liabilities | -2,142,000 | -4,025,000 | -5,746,000 | -2,140,000 | 702,000 | ||||||||||||||||||||||||||||||
shares issued for transaction costs | 2,175,000 | 2,175,000 | 2,175,000 | 2,175,000 | |||||||||||||||||||||||||||||||
allowance for doubtful receivables | 188,000 | 920,000 | 920,000 | 476,000 | 476,000 | 67,000 | 67,000 | ||||||||||||||||||||||||||||
equity stock-earn outs | -9,619,000 | ||||||||||||||||||||||||||||||||||
(increase) in inventories | -12,535,000 | -10,755,000 | -10,755,000 | -7,883,000 | -7,883,000 | -5,574,000 | -5,574,000 | -15,123,000 | -15,123,000 | -7,964,000 | -7,964,000 | -2,297,000 | -2,297,000 | ||||||||||||||||||||||
(increase) in prepaid expenses | -1,051,000 | -3,825,000 | -3,825,000 | -2,943,000 | -2,943,000 | ||||||||||||||||||||||||||||||
net cash provided by operating activities | 135,326,000 | 45,290,000 | 45,290,000 | 14,324,000 | |||||||||||||||||||||||||||||||
proceeds from the company’s trust account | 231,782,000 | 231,782,000 | 231,782,000 | 231,782,000 | |||||||||||||||||||||||||||||||
net cash used in investing activities | -106,585,000 | -89,971,000 | -89,971,000 | ||||||||||||||||||||||||||||||||
proceeds from issuance of shares | 48,294,000 | 48,294,000 | 48,294,000 | 48,294,000 | |||||||||||||||||||||||||||||||
redemption of ordinary shares | -19,380,000 | -19,380,000 | -19,380,000 | -19,380,000 | |||||||||||||||||||||||||||||||
payment of deferred underwriting fees | -5,333,000 | -5,333,000 | -5,333,000 | -5,333,000 | |||||||||||||||||||||||||||||||
dividend paid | |||||||||||||||||||||||||||||||||||
net cash provided by (used in) financing activities | -26,960,000 | 62,890,000 | 74,766,000 | ||||||||||||||||||||||||||||||||
supplemental disclosure of cash flow information: | |||||||||||||||||||||||||||||||||||
shares issued for loan fees and transaction costs | |||||||||||||||||||||||||||||||||||
(increase) in accounts receivable | -13,223,000 | -13,223,000 | -7,771,000 | -7,771,000 | -23,422,000 | -23,422,000 | |||||||||||||||||||||||||||||
decrease (increase) in prepaid assets | 2,002,000 | 2,002,000 | 857,000 | ||||||||||||||||||||||||||||||||
(increase) in other current assets | -57,400,000 | -57,400,000 | -46,533,000 | -46,533,000 | -24,088,000 | -24,088,000 | -5,537,000 | -5,537,000 | -8,651,000 | -8,651,000 | -1,517,000 | -1,517,000 | -21,866,000 | -21,866,000 | |||||||||||||||||||||
(decrease) in other current liabilities | -1,293,000 | 1,234,000 | -818,000 | -818,000 | |||||||||||||||||||||||||||||||
net change in overdraft facilities | -7,050,000 | ||||||||||||||||||||||||||||||||||
stock-based compensation | 3,760,000 | 1,635,000 | 1,635,000 | 4,057,000 | 4,057,000 | 2,113,000 | 2,113,000 | 740,000 | 740,000 | ||||||||||||||||||||||||||
deferred tax benefit | -2,126,000 | ||||||||||||||||||||||||||||||||||
decrease (increase) in accounts receivable | 1,887,000 | ||||||||||||||||||||||||||||||||||
(increase) in other long-term assets and liabilities | -3,706,000 | -4,527,000 | -1,394,000 | -1,394,000 | |||||||||||||||||||||||||||||||
(decrease) increase in other current liabilities | -1,439,000 | -1,439,000 | |||||||||||||||||||||||||||||||||
(gain) on disposal of assets | -399,000 | -399,000 | -356,000 | -356,000 | -191,000 | -191,000 | |||||||||||||||||||||||||||||
nps equity stock-earn out | |||||||||||||||||||||||||||||||||||
payments for equipment purchased using seller financing | |||||||||||||||||||||||||||||||||||
gain on disposal of assets | -281,000 | ||||||||||||||||||||||||||||||||||
non-cash interest income | |||||||||||||||||||||||||||||||||||
benefit from obsolete service inventories | |||||||||||||||||||||||||||||||||||
increase in accounts receivable | |||||||||||||||||||||||||||||||||||
increase in unbilled revenue | |||||||||||||||||||||||||||||||||||
increase in retention withholdings | |||||||||||||||||||||||||||||||||||
increase in inventories | |||||||||||||||||||||||||||||||||||
increase in prepaid expenses | |||||||||||||||||||||||||||||||||||
increase in other current assets | |||||||||||||||||||||||||||||||||||
increase in other long-term assets and liabilities | |||||||||||||||||||||||||||||||||||
net change in short-term borrowings | -7,050,000 | -7,013,000 | -7,013,000 | ||||||||||||||||||||||||||||||||
net increase (decrease) in cash | 18,190,000 | 18,190,000 | |||||||||||||||||||||||||||||||||
accrued interest | 2,484,000 | 2,484,000 | 8,001,000 | 8,001,000 | 1,899,000 | 1,899,000 | |||||||||||||||||||||||||||||
proceeds from loans and borrowings | 365,000,000 | ||||||||||||||||||||||||||||||||||
repayments of loans and borrowings | -278,039,000 | ||||||||||||||||||||||||||||||||||
(gain) on equity method investments | -344,000 | -344,000 | |||||||||||||||||||||||||||||||||
increase in accounts payable and accrued liabilities | 14,325,000 | ||||||||||||||||||||||||||||||||||
proceeds from borrowings | 100,000,000 | 100,000,000 | |||||||||||||||||||||||||||||||||
repayments of borrowings, lines of credit and other debt | -21,994,000 | -21,994,000 | |||||||||||||||||||||||||||||||||
impairment of property, plant and equipment | |||||||||||||||||||||||||||||||||||
nps equity stock earn-out | |||||||||||||||||||||||||||||||||||
(increase) decrease in other long term assets | 2,039,000 | ||||||||||||||||||||||||||||||||||
increase (decrease) in accounts payable and accrued liabilities | |||||||||||||||||||||||||||||||||||
(loss) on disposal of assets | -684,000 | -684,000 | |||||||||||||||||||||||||||||||||
bad debt expense | 629,000 | 629,000 | |||||||||||||||||||||||||||||||||
decrease in other long term assets | 312,000 | 312,000 | |||||||||||||||||||||||||||||||||
increase accounts payable and accrued liabilities | -14,629,000 | -14,629,000 | 13,397,000 | ||||||||||||||||||||||||||||||||
proceeds from lines of credit and other debt | 50,000,000 | 50,000,000 | |||||||||||||||||||||||||||||||||
cash, beginning of period | 46,000 | 46,000 | 46,000 | 46,000 | |||||||||||||||||||||||||||||||
cash, end of period | 67,560,000 | 67,560,000 | 36,901,000 | 36,901,000 | |||||||||||||||||||||||||||||||
taxes paid | 3,129,000 | 3,129,000 | |||||||||||||||||||||||||||||||||
allowance for doubtful accounts | |||||||||||||||||||||||||||||||||||
other | 603,000 | 603,000 | |||||||||||||||||||||||||||||||||
decrease in other current assets and unbilled revenue | -8,387,000 | ||||||||||||||||||||||||||||||||||
increase) decrease in other long term assets | 2,039,000 | ||||||||||||||||||||||||||||||||||
supplemental disclosures of cash flow information | |||||||||||||||||||||||||||||||||||
cash payments during the year: | |||||||||||||||||||||||||||||||||||
interest | 143,000 | 143,000 | |||||||||||||||||||||||||||||||||
income taxes | 3,061,000 | 3,061,000 | |||||||||||||||||||||||||||||||||
gain (loss) on disposal of assets | -281,000 | ||||||||||||||||||||||||||||||||||
(increase) decrease in other current assets and unbilled revenue | -8,387,000 | ||||||||||||||||||||||||||||||||||
(decrease) increase accounts payable and accrued liabilities | 13,397,000 | ||||||||||||||||||||||||||||||||||
decrease (increase) in other long term assets | |||||||||||||||||||||||||||||||||||
7 | |||||||||||||||||||||||||||||||||||
change in fair value of deferred underwriting fee liability | -4,014 | ||||||||||||||||||||||||||||||||||
unrealized loss on marketable securities held in trust account | 29,583 | ||||||||||||||||||||||||||||||||||
interest earned on marketable securities held in trust account | -733,794 | ||||||||||||||||||||||||||||||||||
prepaid expenses | -24,368 | ||||||||||||||||||||||||||||||||||
accrued expenses | 1,963,680 | ||||||||||||||||||||||||||||||||||
proceeds from issuance of ordinary shares to initial shareholder | |||||||||||||||||||||||||||||||||||
proceeds from advance from related party | |||||||||||||||||||||||||||||||||||
proceeds from promissory note – related parties | |||||||||||||||||||||||||||||||||||
payment of offering costs | |||||||||||||||||||||||||||||||||||
net change in cash | -620,620 | ||||||||||||||||||||||||||||||||||
cash – beginning | 741,096 | ||||||||||||||||||||||||||||||||||
cash – ending | 120,476 | ||||||||||||||||||||||||||||||||||
non-cash investing and financing activities: | |||||||||||||||||||||||||||||||||||
change in value of ordinary shares subject to possible redemption | 519,876 | ||||||||||||||||||||||||||||||||||
3 | |||||||||||||||||||||||||||||||||||
less: income attributable to ordinary shares subject to redemption | -546,566 | ||||||||||||||||||||||||||||||||||
adjusted net income | -284,193 | ||||||||||||||||||||||||||||||||||
weighted-average shares outstanding, basic and diluted | 8,690,796 | ||||||||||||||||||||||||||||||||||
basic and diluted net income per ordinary share | -0.03 |
