Limbach Holdings Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Limbach Holdings Inc reported revenue of $646.8M (+24.7% year on year) and net income of $39.1M (+26.5% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $646.8M | $518.8M | $516.4M | $496.8M |
| Cost of revenue | $477.5M | $374.5M | $397.1M | $403.0M |
| Gross profit | $169.3M | $144.3M | $119.3M | $93.7M |
| Selling, general and administrative | $109.5M | $97.2M | $87.4M | $77.9M |
| Acquisition-related retention expense and contingent consideration | $2.0M | — | — | — |
| Amortization of intangibles | $8.4M | $4.7M | $1.9M | $1.6M |
| Total operating expenses | $119.9M | $105.7M | $90.0M | $81.7M |
| Operating income | $49.5M | $38.6M | $29.3M | $12.0M |
| Interest expense | ($3.1M) | ($1.9M) | ($2.0M) | — |
| Interest income | $815.0K | $2.2M | $1.2M | — |
| Loss on early debt extinguishment | $0 | $0 | ($311.0K) | $0 |
| (Loss) gain on change in fair value of interest rate swap | ($191.0K) | $34.0K | ($124.0K) | $310.0K |
| Gain on disposition of property and equipment | $1.7M | $950.0K | $80.0K | $281.0K |
| Total other (expenses) income | ($825.0K) | $1.3M | — | — |
| Income before income taxes | $48.6M | $40.0M | $28.1M | $9.6M |
| Income tax provision | $9.6M | $9.1M | $7.3M | $2.8M |
| Net income | $39.1M | $30.9M | $20.8M | $6.8M |
| Basic (in usd per share) | $3.37 | $2.75 | $1.93 | $0.65 |
| Diluted (in usd per share) | $3.23 | $2.57 | $1.76 | $0.64 |
| Basic (in shares) | 11.6M | 11.2M | 10.8M | 10.4M |
| Diluted (in shares) | 12.1M | 12.0M | 11.8M | 10.7M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $173.5M | $138.9M | $184.6M | $142.2M |
| Cost of revenue | $136.2M | $107.7M | $139.9M | $102.4M |
| Gross profit | $37.3M | $31.2M | $44.7M | $39.8M |
| Selling, general and administrative | $28.1M | $28.1M | $28.3M | $26.6M |
| Acquisition-related retention expense and contingent consideration | $230.0K | $149.0K | $610.0K | — |
| Amortization of intangibles | $1.7M | $1.8M | $2.4M | $1.8M |
| Total operating expenses | $30.0M | $30.0M | $31.3M | $29.2M |
| Operating income | $7.3M | $1.1M | $13.3M | $10.6M |
| Interest expense | ($773.0K) | ($701.0K) | ($1.2M) | ($563.0K) |
| Interest income | $1.0K | $15.0K | $88.0K | $334.0K |
| Gain on disposition of property and equipment | $81.0K | $238.0K | $367.0K | $407.0K |
| Gain (loss) on change in fair value of interest rate swap | $22.0K | $38.0K | ($22.0K) | ($56.0K) |
| Total other (expense) income | ($669.0K) | ($410.0K) | ($790.0K) | $122.0K |
| Income before income taxes | $6.6M | $723.0K | $12.6M | $10.8M |
| Income tax expense (benefit) | $1.8M | ($3.7M) | $3.8M | $3.0M |
| Net income | $4.7M | $4.4M | $8.8M | $7.8M |
| Basic (in usd per share) | $0.40 | $0.37 | $0.76 | $0.67 |
| Diluted (in usd per share) | $0.39 | $0.36 | $0.73 | $0.64 |
| Basic (in shares) | 11.9M | 11.8M | 11.6M | 11.6M |
| Diluted (in shares) | 12.0M | 12.1M | 12.1M | 12.1M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $11.3M | $44.9M | $59.8M | $36.0M |
| Restricted cash | $65.0K | $65.0K | $65.0K | $113.0K |
| Accounts receivable (net of allowance for credit losses of $396 and $387, respectively) | $133.2M | $119.7M | $97.8M | $124.4M |
| Contract assets, net | $45.5M | $47.5M | $51.7M | $61.5M |
| Advances to and equity in joint ventures, net | $5.0K | $5.0K | $12.0K | $12.0K |
| Other current assets | $5.0M | $8.1M | $7.6M | $3.9M |
| Total current assets | $195.0M | $220.3M | $217.0M | $226.0M |
| Property and equipment, net | $43.3M | $30.1M | $20.8M | $18.2M |
| Intangible assets, net | $49.2M | $41.2M | $25.0M | $15.3M |
| Goodwill | $70.6M | $33.0M | $16.4M | $11.4M |
| Operating lease right-of-use assets | $19.8M | $21.5M | $19.7M | $18.3M |
| Deferred tax asset | $2.9M | $5.5M | $5.2M | $4.8M |
| Other assets | $276.0K | $337.0K | $330.0K | $515.0K |
| Total assets | $381.1M | $352.1M | $304.4M | $294.6M |
| Current portion of long-term debt | $5.0M | $3.3M | $2.7M | $9.6M |
| Current operating lease liabilities | $4.4M | $4.1M | $3.6M | $3.6M |
| Accounts payable, including retainage | $74.2M | $60.8M | $65.3M | $75.1M |
| Contract liabilities, net | $20.9M | $44.5M | $42.2M | $44.0M |
| Accrued income taxes | $1.2M | $1.5M | $446.0K | $1.9M |
| Accrued expenses and other current liabilities | $29.4M | $36.8M | $31.0M | $24.9M |
| Total current liabilities | $135.1M | $151.0M | $145.1M | $159.1M |
| Long-term debt | $30.5M | $23.6M | $19.6M | $21.5M |
| Long-term operating lease liabilities | $15.9M | $17.8M | $16.0M | $15.6M |
| Other long-term liabilities | $3.9M | $6.3M | $2.7M | $2.9M |
| Total liabilities | $185.5M | $198.6M | $183.5M | $199.1M |
| Redeemable convertible preferred stock, net, par value $0.0001, 1,000,000 shares authorized, no shares issued and outstanding ($0 redemption value) | 0 | 0 | 0 | 0 |
| Common stock, $0.0001 par value; 100,000,000 shares authorized, issued 11,806,466 and 11,452,753, respectively; 11,626,814 and 11,273,101 outstanding, respectively | 1.0K | 1.0K | 1.0K | 1.0K |
| Additional paid-in capital | $97.3M | $94.2M | $92.5M | $87.8M |
| Treasury stock, at cost (179,652 shares at both period ends) | -2.0M | -2.0M | -2.0M | -2.0M |
| Retained earnings | $100.3M | $61.3M | $30.4M | $9.6M |
| Total stockholders’ equity | $195.7M | $153.5M | $120.9M | $95.4M |
| Total liabilities and stockholders’ equity | $381.1M | $352.1M | $304.4M | $294.6M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $17.5M | $15.8M | $9.8M | $38.9M |
| Restricted cash | $65.0K | $65.0K | $65.0K | $65.0K |
| Accounts receivable (net of allowance for credit losses of $462 and $396, respectively) | $149.3M | $120.5M | $142.5M | $113.1M |
| Contract assets, net | $41.6M | $46.5M | $52.7M | $45.8M |
| Income tax receivable | $2.2M | — | $44.0K | $1.9M |
| Other current assets | $12.4M | $8.9M | $11.8M | $9.2M |
| Total current assets | $223.1M | $191.8M | $216.8M | $209.0M |
| Property and equipment, net | $39.2M | $41.0M | $45.9M | $36.4M |
| Intangible assets, net | $45.8M | $47.4M | $51.5M | $37.7M |
| Goodwill | $72.6M | $70.7M | $69.7M | $33.1M |
| Operating lease right-of-use assets | $18.2M | $19.3M | $20.8M | $21.2M |
| Deferred tax asset | $4.7M | $6.6M | $4.1M | $5.4M |
| Other assets | $314.0K | $302.0K | $305.0K | $295.0K |
| Total assets | $404.0M | $377.0M | $409.1M | $343.0M |
| Current portion of long-term debt | $4.9M | $4.9M | $5.3M | $4.4M |
| Current operating lease liabilities | $4.6M | $4.6M | $4.3M | $4.1M |
| Accounts payable, including retainage | $80.3M | $62.1M | $65.9M | $55.4M |
| Contract liabilities, net | $35.1M | $18.1M | $37.3M | $32.1M |
| Accrued income taxes | $0 | $1.2M | $0 | $0 |
| Accrued expenses and other current liabilities | $25.3M | $21.5M | $38.5M | $27.4M |
| Total current liabilities | $150.2M | $112.4M | $151.2M | $123.5M |
| Long-term debt | $35.8M | $51.7M | $56.3M | $28.4M |
| Long-term operating lease liabilities | $14.3M | $15.2M | $16.9M | $17.4M |
| Other long-term liabilities | $481.0K | $1.3M | $3.1M | $3.2M |
| Total liabilities | $200.9M | $180.6M | $227.6M | $172.4M |
| Common stock, $0.0001 par value; 100,000,000 shares authorized, issued 12,100,719 and 11,806,466, respectively, and 11,921,067 and 11,626,814 outstanding, respectively | 1.0K | 1.0K | 1.0K | 1.0K |
| Additional paid-in capital | $95.7M | $93.6M | $95.5M | $93.3M |
| Treasury stock, at cost (179,652 shares at both period ends) | -2.0M | -2.0M | -2.0M | -2.0M |
| Retained earnings | $109.5M | $104.7M | $88.0M | $79.2M |
| Total stockholders’ equity | $203.1M | $196.3M | $181.6M | $170.5M |
| Total liabilities and stockholders’ equity | $404.0M | $377.0M | $409.1M | $343.0M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $39.1M | $30.9M | $20.8M | $6.8M |
| Depreciation and amortization | $18.1M | $11.9M | $8.2M | $8.2M |
| Noncash operating lease expense | $4.1M | $4.1M | $3.8M | $4.3M |
| Provision for credit losses | $404.0K | $201.0K | $431.0K | $292.0K |
| Non-cash stock-based compensation expense | $7.0M | $5.8M | $4.9M | $2.7M |
| Loss on early debt extinguishment | $0 | $0 | $311.0K | $0 |
| Amortization of debt issuance costs | $54.0K | $43.0K | $79.0K | — |
| Deferred income tax provision | $2.6M | ($352.0K) | ($350.0K) | ($499.0K) |
| Gain on sale of property and equipment | ($1.7M) | ($950.0K) | ($80.0K) | ($281.0K) |
| Loss (gain) on change in fair value of interest rate swap | $191.0K | ($34.0K) | $124.0K | ($310.0K) |
| Acquisition-related retention expense and contingent consideration | $2.0M | $3.8M | $729.0K | $2.3M |
| Accounts receivable | $4.5M | ($11.3M) | $32.6M | ($35.4M) |
| Contract assets and contract liabilities, net | ($24.8M) | — | — | — |
| Other current assets | $3.2M | ($499.0K) | ($1.5M) | $1.1M |
| Accounts payable, including retainage | $5.3M | ($10.3M) | ($10.9M) | $11.3M |
| Income tax receivable | $0 | $0 | $95.0K | $19.0K |
| Accrued income taxes | ($318.0K) | $1.0M | ($1.4M) | $1.4M |
| Accrued expenses and other current liabilities | ($8.9M) | $3.1M | $2.9M | ($2.9M) |
| Operating lease liabilities | ($4.0M) | ($2.2M) | ($3.8M) | ($4.1M) |
| Payment of contingent consideration liability in excess of acquisition-date fair value | ($1.5M) | ($3.9M) | ($1.2M) | — |
| Other long-term liabilities | $409.0K | ($141.0K) | $401.0K | ($108.0K) |
| Net cash provided by operating activities | $45.7M | $36.8M | $57.4M | $35.4M |
| Net of cash acquired | ($65.7M) | ($36.6M) | ($15.3M) | $0 |
| Proceeds from sale of property and equipment | $1.9M | $1.5M | $435.0K | $498.0K |
| Purchase of property and equipment | ($3.8M) | ($7.5M) | ($2.3M) | ($993.0K) |
| Advances from joint ventures | $0 | $7.0K | — | — |
| Net cash used in investing activities | ($67.6M) | ($42.6M) | ($17.1M) | ($495.0K) |
| Payments on Wintrust Term Loans | $0 | $0 | ($21.5M) | ($13.4M) |
| Proceeds from Wintrust Revolving Loan | $73.8M | $0 | $10.0M | $15.2M |
| Payments on Wintrust Revolving Loan | ($73.8M) | $0 | $0 | ($15.2M) |
| Payment of contingent consideration liability up to acquisition-date fair value | ($3.5M) | ($1.3M) | ($1.8M) | $0 |
| Payments on finance leases | ($4.4M) | ($3.0M) | ($2.7M) | ($2.7M) |
| Proceeds from contributions to employee stock purchase plan | $653.0K | $440.0K | $368.0K | $309.0K |
| Proceeds from the sale of shares to cover employee taxes | 6.3M | — | — | — |
| Taxes paid related to net-share settlement of equity awards | ($10.7M) | ($5.2M) | ($847.0K) | ($417.0K) |
| Payments of debt issuance costs | ($168.0K) | $0 | ($50.0K) | ($433.0K) |
| Net cash used in financing activities | ($11.7M) | ($9.1M) | ($16.5M) | ($13.4M) |
| (Decrease) increase in cash, cash equivalents and restricted cash | ($33.6M) | ($14.9M) | $23.8M | $21.5M |
| Cash, cash equivalents and restricted cash, beginning of year | $45.0M | $59.9M | $36.1M | $14.6M |
| Cash, cash equivalents and restricted cash, end of year | $11.4M | $45.0M | $59.9M | $36.1M |
| Measurement period adjustment | ($94.0K) | — | — | — |
| Earnout liability transactions | $0 | $5.1M | $4.7M | $0 |
| Right of use assets obtained in exchange for new operating lease liabilities | $2.4M | $4.8M | $3.1M | $0 |
| Right of use assets obtained in exchange for new finance lease liabilities | $13.5M | $7.6M | $5.2M | $2.6M |
| Right of use assets disposed or adjusted modifying operating leases liabilities | $0 | $1.3M | $1.1M | $2.5M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $9.1M | $4.4M | $26.8M | $18.0M |
| Depreciation and amortization | $8.7M | $4.4M | $13.1M | $8.0M |
| Provision for credit losses | $224.0K | $116.0K | $352.0K | $139.0K |
| Non-cash stock-based compensation expense | $3.9M | $1.9M | $5.2M | $3.2M |
| Non-cash operating lease expense | $2.2M | $1.1M | $3.0M | $2.0M |
| Amortization of debt issuance costs | $32.0K | $16.0K | $37.0K | $21.0K |
| Deferred income tax (benefit) provision | ($1.8M) | ($3.7M) | $1.5M | $128.0K |
| Gain on sale of property and equipment | ($319.0K) | ($238.0K) | ($1.1M) | ($740.0K) |
| Acquisition-related retention expense and contingent consideration | $379.0K | $149.0K | — | $1.2M |
| (Gain) loss on change in fair value of interest rate swap | ($60.0K) | ($38.0K) | $175.0K | $153.0K |
| Accounts receivable | ($16.3M) | $12.6M | ($4.7M) | $6.5M |
| Contract assets and contract liabilities, net | $15.9M | ($4.0M) | — | — |
| Other current assets | ($7.5M) | ($4.0M) | ($3.6M) | ($1.0M) |
| Accounts payable, including retainage | $6.1M | ($12.0M) | ($3.0M) | ($5.4M) |
| Prepaid income taxes | ($2.2M) | — | ($44.0K) | ($1.9M) |
| Accrued taxes payable | ($1.2M) | $0 | ($1.5M) | ($1.5M) |
| Operating lease liabilities | ($2.1M) | ($1.1M) | ($3.0M) | ($2.0M) |
| Accrued expenses and other current liabilities | ($397.0K) | ($4.2M) | ($1.4M) | ($10.9M) |
| Payments of contingent consideration liability in excess of acquisition-date fair value | ($3.4M) | ($2.9M) | ($711.0K) | ($711.0K) |
| Other long-term liabilities | ($432.0K) | ($300.0K) | ($293.0K) | ($137.0K) |
| Net cash provided by operating activities | $10.9M | ($7.8M) | $17.6M | $4.2M |
| Consolidated Mechanical Transaction, measurement period adjustment | $0 | $0 | ($65.7M) | ($3.0K) |
| Proceeds from sale of property and equipment | $380.0K | $299.0K | $1.3M | $926.0K |
| Advances from joint ventures | $1.0K | $1.0K | $0 | $0 |
| Purchases of property and equipment | ($1.0M) | ($407.0K) | ($3.6M) | ($3.1M) |
| Net cash used in investing activities | ($665.0K) | ($107.0K) | ($67.9M) | ($2.2M) |
| Payments on Wintrust Revolving Loan | ($93.1M) | ($32.1M) | ($17.3M) | — |
| Proceeds from Wintrust Revolving Loan | $100.6M | $54.5M | $41.8M | — |
| Payments of debt issuance costs | $0 | — | ($168.0K) | ($125.0K) |
| Payments of contingent consideration liability up to acquisition-date fair value | ($3.5M) | ($3.1M) | ($2.3M) | ($2.3M) |
| Payments on finance leases | ($2.5M) | ($1.3M) | ($3.1M) | ($1.8M) |
| Proceeds from the sale of shares to cover employee taxes | 5.9M | 5.9M | 6.3M | 6.3M |
| Taxes paid related to net-share settlement of equity awards | ($12.0M) | ($12.0M) | ($10.7M) | ($10.7M) |
| Proceeds from contributions to Employee Stock Purchase Plan | $521.0K | $419.0K | $570.0K | $441.0K |
| Net cash used in financing activities | ($4.1M) | $12.3M | $15.2M | ($8.1M) |
| Increase (decrease) in cash, cash equivalents and restricted cash | $6.2M | $4.4M | ($35.1M) | ($6.0M) |
| Cash, cash equivalents and restricted cash, beginning of period | $11.4M | $11.4M | $45.0M | $45.0M |
| Cash, cash equivalents and restricted cash, end of period | $17.6M | $15.8M | $9.9M | $39.0M |
| Kent Island Transaction, measurement period adjustment | $0 | $0 | — | ($94.0K) |
| Right of use assets obtained in exchange for new operating lease liabilities | $710.0K | $589.0K | $2.3M | $1.7M |
| Right of use assets obtained in exchange for new finance lease liabilities | $177.0K | $0 | $13.5M | $7.9M |
| Right of use assets disposed or adjusted modifying finance lease liabilities | $20.0K | $9.0K | $0 | $0 |
| Interest paid | $1.5M | $689.0K | $2.3M | $1.1M |
| Cash paid for income taxes | $3.4M | $0 | $4.7M | $4.0M |
Limbach Holdings Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.