TIC Solutions, Inc.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 12, 2026
TIC$10.99-2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(amounts in thousands)
| Successor · Predecessor | ||||
|---|---|---|---|---|
| Year Ended December 31, 2025 | July 30 through December 31, 2024 | January 1 through July 29, 2024 | Year Ended December 31, 2023 | |
| Cash flows from operating activities: | ||||
| Net loss | $(87,116) | $(105,452) | $(15,703) | $(6,289) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
| Depreciation and amortization | 178,330 | 47,313 | 45,777 | 94,818 |
| Noncash lease expense | 16,610 | 3,667 | 5,453 | 9,992 |
| Share-based compensation expense | 17,155 | 64,626 | 17,858 | 4,975 |
| Amortization of deferred financing costs | 5,350 | 1,366 | 2,406 | 3,586 |
| Loss on extinguishment of debt | — | — | 9,073 | — |
| Fair value adjustments on interest rate derivatives | — | — | 3,102 | 7,244 |
| Deferred taxes | (32,966) | (13,983) | (8,376) | (23,442) |
| Other | 2,946 | 2,200 | (180) | 1,275 |
| Changes in operating assets and liabilities, net of effects of business acquisitions: | ||||
| Accounts receivable | 41,078 | 18,400 | (32,576) | (6,260) |
| Contract assets | (5,550) | 9,382 | (221) | 7,141 |
| Prepaid expenses and other current assets | (4,590) | (9,380) | (2,829) | (3,243) |
| Accounts payable | (1,435) | (4,479) | (9,691) | 2,917 |
| Accrued expenses and other current liabilities | (12,190) | (7,892) | 17,669 | 6,111 |
| Operating lease obligations | (15,979) | (3,429) | (5,751) | (9,284) |
| Contract liabilities | (1,486) | 17 | 179 | (153) |
| Other assets and liabilities | (5,139) | 273 | (5,751) | 6,421 |
| Net cash provided by operating activities | 95,018 | 2,629 | 20,439 | 95,809 |
| Cash flows from investing activities: | ||||
| Business acquisitions, net of cash acquired | (845,018) | (1,822,186) | (44,680) | (6,010) |
| Purchases of property and equipment | (33,758) | (13,241) | (14,334) | (22,141) |
| Proceeds from sale of property and equipment | 4,687 | 776 | 1,029 | 1,617 |
| Net cash used in investing activities | (874,089) | (1,834,651) | (57,985) | (26,534) |
| Cash flows from financing activities: | ||||
| Proceeds from long-term borrowings | 875,000 | 775,000 | 30,000 | 195,000 |
| Payments on long-term borrowings | (12,128) | (1,938) | (16,346) | (81,384) |
| Payments of debt issuance costs | (24,331) | (21,355) | — | (2,844) |
| Payments on finance lease obligations and other long-term debt | (13,267) | (3,991) | (5,836) | (9,948) |
| Dividends paid to stockholder | — | — | — | (150,000) |
| Proceeds from issuance of common shares and exercise of warrants, net of issuance costs | 250,454 | 666,630 | — | — |
| Net cash provided by (used in) financing activities | 1,075,728 | 1,414,346 | 7,818 | (49,176) |
| Net effect of exchange rate fluctuations on cash and cash equivalents | 3,745 | (123) | (7,877) | 4,377 |
| Net change in cash and cash equivalents | 300,402 | (417,799) | (37,605) | 24,476 |
| Beginning of period | 139,134 | 556,933 | 87,061 | 62,585 |
| End of period | $439,536 | $139,134 | $49,456 | $87,061 |
Consolidated Statements of Cash Flows
(amounts in thousands)
| Successor · Predecessor | ||||
|---|---|---|---|---|
| Year Ended December 31, 2025 | July 30 through December 31, 2024 | January 1 through July 29, 2024 | Year Ended December 31, 2023 | |
| Supplemental disclosure of cash flow information | ||||
| Interest paid | $80,804 | $36,984 | $32,332 | $60,355 |
| Income taxes paid | $27,768 | $12,334 | $14,579 | $29,761 |
| Supplemental disclosure of non-cash operating, investing, and financing activities: | ||||
| Equity consideration issued for business combinations | $798,048 | $4,000 | $— | $— |
| Purchase of property and equipment accrued and not yet paid | $6,506 | $1,606 | $2,434 | $2,147 |
| Notes payable and other obligations issued for acquisitions | $6,741 | $— | $— | $— |
| Settlement of derivative liability | $— | $967 | $— | $— |
| Increases in lease assets in exchange for lease liabilities: | ||||
| Operating leases | $44,935 | $5,575 | $6,748 | $6,949 |
| Finance leases | $21,454 | $4,673 | $5,988 | $11,049 |
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