TIC Solutions, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
TIC$10.99-2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(amounts in thousands)
| Nine Months Ended | ||
|---|---|---|
| September 30, 2026 | September 30, 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(66,003) | $(39,916) |
| Adjustments to reconcile net loss to cash flows from operating activities: | ||
| Depreciation and amortization | 180,832 | 109,241 |
| Noncash lease expense | 18,526 | 10,002 |
| Share-based compensation expense | 35,483 | 9,271 |
| Amortization of deferred financing costs | 5,617 | 3,185 |
| Deferred taxes | (36,735) | (24,010) |
| Other | 2,713 | 2,678 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | ||
| Accounts receivable | (95,328) | 26,289 |
| Contract assets | (66,122) | (52,520) |
| Prepaid expenses and other current assets | (1,444) | 1,450 |
| Accounts payable | 16,532 | 5,563 |
| Accrued expenses and other current liabilities | 61,341 | 5,489 |
| Operating lease obligations | (18,237) | (7,563) |
| Contract liabilities | 3,155 | (2,736) |
| Other assets and liabilities | (3,694) | (1,093) |
| Net cash provided by operating activities | 36,636 | 45,330 |
| Cash flows from investing activities: | ||
| Business acquisitions, net of cash acquired | (179,985) | (838,399) |
| Purchases of property and equipment | (39,531) | (21,187) |
| Proceeds from sale of property and equipment | 3,115 | 3,141 |
| Net cash used in investing activities | (216,401) | (856,445) |
| Cash flows from financing activities: | ||
| Proceeds from long-term borrowings | — | 875,000 |
| Payments on long-term borrowings | (8,211) | (8,441) |
| Payments of debt issuance costs | — | (24,331) |
| Payments on finance lease obligations and other long-term debt | (24,380) | (8,361) |
| Payments related to tax withholdings for stock-based compensation | (2,965) | — |
| Payments related to repurchases of common stock | (22,659) | — |
| Net cash (used in) provided by financing activities | (58,215) | 833,867 |
| Effect of exchange rate changes on cash and cash equivalents | (3,648) | 2,546 |
| Net change in cash and cash equivalents | (241,628) | 25,298 |
| Beginning of period | 439,536 | 139,134 |
| End of period | $197,908 | $164,432 |
Condensed Consolidated Statements of Cash Flows
(amounts in thousands)
Supplemental cash flow information of non-cash investing and financing activities for the periods indicated were as follows:
| Nine Months Ended | ||
|---|---|---|
| September 30, 2026 | September 30, 2025 | |
| Supplemental disclosure of cash flow information | ||
| Interest paid | $78,579 | $52,511 |
| Income taxes paid | $14,130 | $19,220 |
| Supplemental disclosure of non-cash operating, investing and financing activities: | ||
| Equity consideration issued for business combinations | $— | $798,048 |
| Reclassification of liability-classified awards to equity-classified awards | $4,253 | $— |
| Purchases of property and equipment accrued and not yet paid | $4,047 | $4,092 |
| Notes payable and other obligations issued for acquisitions | $13,082 | $4,641 |
| Shares issued in accordance with employee stock purchase plan | $1,983 | $— |
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