Quarterly report [Sections 13 or 15(d)]

Construction Contract and Other Service Revenues (Tables)

v3.26.1
Construction Contract and Other Service Revenues (Tables)
 3 Months Ended
Mar. 31, 2026
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 Three Months Ended March 31,
2026 2025
Construction contract revenue
Guaranteed maximum price $ 2,338  $ 2,630 
Firm fixed price 1,742  6,277 
Cost-plus fee 1,609  1,071 
Other 352  281 
$ 6,041  $ 10,259 
Schedule of Accounts Receivable, Contract Assets and Contract Liabilities The beginning and ending balances of accounts receivable related to our construction contracts were as follows (in thousands):
For the Three Months Ended March 31,
2026 2025
Beginning balance $ 4,036  $ 8,828 
Ending balance $ 2,538  $ 4,328 
The beginning and ending balances of our contract assets were as follows (in thousands):
For the Three Months Ended March 31,
2026 2025
Beginning balance $ 17,925  $ 17,050 
Ending balance $ 15,213  $ 10,239 
Changes in contract liabilities were as follows (in thousands):
For the Three Months Ended March 31,
2026 2025
Beginning balance $ 2,183  $ 2,016 
Ending balance $ 1,960  $ 2,401 
Portion of beginning balance recognized in revenue during period $ 236  $ 100