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

Construction Contract and Other Service Revenues (Tables)

v3.25.4
Construction Contract and Other Service Revenues (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Construction Contract and Other Service Revenues by Compensation Arrangement
We disaggregate in the table below our construction contract and other service revenues by compensation arrangement as we believe it best depicts the nature, timing and uncertainty of our revenue (in thousands):
For the Years Ended December 31,
2025 2024 2023
Construction contract revenue:
FFP $ 18,925  $ 36,073  $ 30,846 
GMP 15,072  32,002  18,178 
Cost-plus fee 6,924  5,875  9,843 
Other 1,153  1,600  1,312 
$ 42,074  $ 75,550  $ 60,179 
Schedule of Accounts Receivable, Contract Assets and Contract Liabilities
Accounts receivable related to our construction contract services is included in accounts receivable, net on our consolidated balance sheets. The beginning and ending balances of accounts receivable related to our construction contracts were as follows (in thousands):
For the Years Ended December 31,
2025 2024
Beginning balance $ 8,828  $ 10,500 
Ending balance $ 4,036  $ 8,828 

Contract assets are included in prepaid expenses and other assets, net on our consolidated balance sheets. The beginning and ending balances of our contract assets were as follows (in thousands):
For the Years Ended December 31,
2025 2024
Beginning balance $ 17,050  $ 15,086 
Ending balance $ 17,925  $ 17,050 
Contract liabilities are included in other liabilities on our consolidated balance sheets. Changes in contract liabilities were as follows (in thousands):
For the Years Ended December 31,
2025 2024
Beginning balance $ 2,016  $ 4,176 
Ending balance $ 2,183  $ 2,016 
Portion of beginning balance recognized in revenue during the year $ 228  $ 2,290