Strong Revenue Growth
Net revenue grew by 26% year-over-year, with a 20% organic growth rate, marking the fourth consecutive year of double-digit organic growth.
Record Profitability
Gross profit grew 30% to $67.1 million, and adjusted EBITDA increased 53% to $23.1 million, achieving a record quarterly performance.
Successful Acquisitions
The APG acquisition is performing well, contributing significantly to new contracts and expected to drive over 50% growth by 2026.
Strong Pipeline and Contract Wins
Secured a $97 million project in California and several substation projects in Oregon, Georgia, Texas, and Utah, demonstrating strong pipeline conversion.
Positive Financial Outlook
Raised financial targets for 2025, expecting net revenue between $360 million and $365 million, and adjusted EBITDA between $77 million and $78 million.