Orion (ORN) 10-K 1 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Feb. 23, 2024	Jun. 30, 2023
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Entity File Number	1-33891
Entity Registrant Name	ORION GROUP HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0097459
Entity Address, Address Line One	12000 Aerospace Avenue, Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77034
City Area Code	713
Local Phone Number	852-6500
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	ORN
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 91.1
Entity Common Stock, Shares Outstanding		32,548,780
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001402829
Amendment Flag	false
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	Houston, Texas

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 30,938	$ 3,784
Accounts receivable:
Trade, net of allowance for credit losses of $361 and $606, respectively	101,229	106,758
Retainage	42,044	50,873
Income taxes receivable	626	402
Other current	3,864	3,526
Inventory	2,699	2,862
Contract assets	81,522	43,903
Prepaid expenses and other	8,894	8,229
Total current assets	271,816	220,337
Property and equipment, net of depreciation	87,834	100,977
Operating lease right-of-use assets, net of amortization	25,696	14,978
Financing lease right-of-use assets, net of amortization	23,602	15,839
Inventory, non-current	6,361	5,469
Intangible assets, net of amortization	0	7,317
Deferred income tax asset	26	70
Other non-current	1,558	2,168
Total assets	416,893	367,155
Current liabilities:
Current debt, net of debt issuance costs	13,453	34,956
Accounts payable:
Trade	80,294	87,605
Retainage	2,527	1,198
Accrued liabilities	37,074	18,466
Income taxes payable	570	522
Contract liabilities	64,079	37,720
Current portion of operating lease liabilities	9,254	4,738
Current portion of financing lease liabilities	8,665	4,031
Total current liabilities	215,916	189,236
Long-term debt, net of debt issuance costs	23,740	716
Operating lease liabilities	16,632	11,018
Financing lease liabilities	13,746	11,102
Other long-term liabilities	25,320	17,072
Deferred income tax liability	64	211
Total liabilities	295,418	229,355
Stockholders' equity:
Preferred stock -- $0.01 par value, 10,000,000 authorized, none issued
Common stock -- $0.01 par value, 50,000,000 authorized, 33,260,011 and 32,770,550 issued; 32,548,780 and 32,059,319 outstanding at December 31, 2023 and December 31, 2022, respectively	333	328
Treasury stock, 711,231 shares, at cost, as of December 31, 2023 and December 31, 2022, respectively	(6,540)	(6,540)
Additional paid-in capital	189,729	188,184
Retained loss	(62,047)	(44,172)
Total stockholders' equity	121,475	137,800
Total liabilities and stockholders' equity	$ 416,893	$ 367,155

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Allowance for credit losses	$ 361	$ 606
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	33,260,011	32,770,550
Common stock, shares outstanding	32,548,780	32,059,319
Treasury stock, shares (in shares)	711,231	711,231

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement
Contract revenues	$ 711,778	$ 748,322	$ 601,360
Costs of contract revenues	650,115	697,580	560,393
Gross profit	61,663	50,742	40,967
Selling, general and administrative expenses	69,431	62,503	60,181
Amortization of intangible assets	427	1,239	1,521
Gain on disposal of assets, net	(8,455)	(4,970)	(11,418)
Intangible asset impairment loss	6,890
Operating loss	(6,630)	(8,030)	(9,317)
Other (expense) income:
Other income	641	199	199
Interest income	103	104	136
Interest expense	(11,659)	(4,456)	(5,076)
Other expense, net	(10,915)	(4,153)	(4,741)
Loss before income taxes	(17,545)	(12,183)	(14,058)
Income tax expense	330	429	502
Net loss	$ (17,875)	$ (12,612)	$ (14,560)
Basic loss per share (in dollars per share)	$ (0.55)	$ (0.40)	$ (0.47)
Diluted loss per share (in dollars per share)	$ (0.55)	$ (0.40)	$ (0.47)
Shares used to compute loss per share:
Basic (in shares)	32,346,992	31,402,328	30,763,527
Diluted (in shares)	32,346,992	31,402,328	30,763,527

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income (Loss) [Abstract]
Net loss	$ (17,875)	$ (12,612)	$ (14,560)
Change in fair value of cash flow hedge, net of tax expense of $368 for the year ended December 31, 2021			1,234
Total comprehensive income (loss)	$ (17,875)	$ (12,612)	$ (13,326)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Statement of Comprehensive Income (Loss) [Abstract]
Change in fair value of cash flow hedge, tax expense	$ 368

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Treasury Stock	Other Comprehensive Income (Loss)	Additional Paid-In Capital	Retained Earnings	Total
Beginning balance, shares at Dec. 31, 2020	31,171,804
Beginning treasury stock, shares at Dec. 31, 2020		(711,231)
Beginning balance at Dec. 31, 2020	$ 312	$ (6,540)	$ (1,602)	$ 184,324	$ (17,000)	$ 159,494
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation				2,401		$ 2,401
Exercise of stock options, shares	28,546					28,546
Exercise of stock options				110		$ 110
Issuance of restricted stock, shares	916,531
Issuance of restricted stock	$ 9			(9)
Forfeiture of restricted stock, shares	(234,232)
Forfeiture of restricted stock	$ (2)			2
Payments related to tax withholding for share-based compensation, shares	(170,192)
Payments related to tax withholding for share-based compensation	$ (2)			(947)		(949)
Cash flow hedge			$ 1,602			1,602
Net loss					(14,560)	(14,560)
Ending balance, shares at Dec. 31, 2021	31,712,457
Ending treasury stock, shares at Dec. 31, 2021		(711,231)
Ending balance at Dec. 31, 2021	$ 317	$ (6,540)		185,881	(31,560)	148,098
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation				2,754		2,754
Issuance of restricted stock, shares	1,603,434
Issuance of restricted stock	$ 16			(16)
Forfeiture of restricted stock, shares	(382,480)
Forfeiture of restricted stock	$ (4)			4
Payments related to tax withholding for share-based compensation, shares	(162,861)
Payments related to tax withholding for share-based compensation	$ (1)			(439)		(440)
Net loss					(12,612)	$ (12,612)
Ending balance, shares at Dec. 31, 2022	32,770,550					32,770,550
Ending treasury stock, shares at Dec. 31, 2022		(711,231)				(711,231)
Ending balance at Dec. 31, 2022	$ 328	$ (6,540)		188,184	(44,172)	$ 137,800
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation				2,042		2,042
Issuance of restricted stock, shares	1,031,853
Issuance of restricted stock	$ 10			(10)
Forfeiture of restricted stock, shares	(390,886)
Forfeiture of restricted stock	$ (4)			4
Payments related to tax withholding for share-based compensation, shares	(151,506)
Payments related to tax withholding for share-based compensation	$ (1)			(491)		(492)
Net loss					(17,875)	$ (17,875)
Ending balance, shares at Dec. 31, 2023	33,260,011					33,260,011
Ending treasury stock, shares at Dec. 31, 2023		(711,231)				(711,231)
Ending balance at Dec. 31, 2023	$ 333	$ (6,540)		$ 189,729	$ (62,047)	$ 121,475

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (17,875)	$ (12,612)	$ (14,560)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	18,844	20,915	22,608
Amortization of ROU operating leases	6,763	4,813	5,102
Amortization of ROU finance leases	5,034	3,142	2,822
Write-off of debt issuance costs upon debt modification	119		790
Amortization of deferred debt issuance costs	1,616	424	430
Deferred income taxes	(103)	13	(9)
Stock-based compensation	2,042	2,754	2,401
Gain on disposal of assets, net	(8,455)	(4,970)	(11,418)
Intangible asset impairment loss	6,890
Allowance for credit losses	(109)	322
Change in operating assets and liabilities:
Accounts receivable	14,129	(28,660)	4,703
Income tax receivable	(224)	3	14
Inventory	(729)	(1,485)	371
Prepaid expenses and other	(55)	1,645	143
Contract assets	(37,619)	(15,374)	3,742
Accounts payable	(4,507)	39,370	589
Accrued liabilities	11,817	(6,630)	(6,544)
Operating lease liabilities	(6,807)	(4,748)	(4,940)
Income tax payable	48	(79)	(38)
Contract liabilities	26,359	10,722	(6,137)
Net cash provided by operating activities	17,178	9,565	69
Cash flows from investing activities:
Proceeds from sale of property and equipment	11,079	4,880	27,164
Purchase of property and equipment	(8,909)	(14,584)	(16,975)
Insurance claim proceeds related to property and equipment			440
Net cash provided by (used in) investing activities	2,170	(9,704)	10,629
Cash flows from financing activities:
Borrowings on credit	106,958	24,000	53,000
Payments made on borrowings on credit	(104,431)	(28,274)	(49,120)
Proceeds from failed sale-leaseback arrangement	14,702
Proceeds from sale-leaseback financing	2,397
Loan costs from Credit Agreement and prior credit facility	(6,537)	(664)
Payments of finance lease liabilities	(4,791)	(2,992)	(3,035)
Payments related to tax withholding for share-based compensation	(492)	(440)	(949)
Exercise of stock options			110
Net cash provided by (used in) financing activities	7,806	(8,370)	6
Net change in cash, cash equivalents and restricted cash	27,154	(8,509)	10,704
Cash, cash equivalents and restricted cash at beginning of period	3,784	12,293	1,589
Cash, cash equivalents and restricted cash at end of period	30,938	3,784	12,293
Supplemental disclosures of cash flow information, cash paid during the period for:
Interest	12,084	2,923	2,423
Taxes, net of refunds	$ 618	$ 533	$ 568

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	1. Description of Business Orion Group Holdings, Inc. and subsidiaries, (hereafter collectively referred to as the “Company”), is a leading specialty construction company serving the infrastructure, industrial, and building sectors, providing services both on and off the water in the continental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its marine segment and its concrete segment. Our marine segment provides construction and dredging services including marine transportation facility construction, marine pipeline construction, marine environmental structures construction, dredging of waterways, channels and ports, environmental dredging, design, and specialty services related to marine construction, fabrication, and dredging. Our concrete segment provides turnkey concrete construction services including concrete surface place and finish, site preparation, layout, forming, and rebar placement for large commercial, structural and other associated business areas. We are headquartered in Houston, Texas with regional offices throughout our operating areas. Although we describe the business in this report in terms of the services the Company provides, its base of customers and the areas in which it operates, the Company has determined that its operations currently comprise two reportable segments pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting The tools used by the chief operating decision maker (“CODM”) to allocate resources and assess performance are based on two reportable and operating segments: marine and concrete, which operate under the Orion brand and logo. In making this determination, the Company considered the similar economic characteristics of its operations that comprise its marine segment. For the marine segment, the methods used, and the internal processes employed, to deliver marine construction services are similar throughout the segment, including standardized estimating, project controls and project management. This segment has the same customers with similar funding drivers and are subject to similar regulatory regimes driven through Federal agencies such as the U.S. Army Corps of Engineers, U.S. Fish and Wildlife Service, U.S. Environmental Protection Agency and U.S. Occupational Safety and Health Administration (“OSHA”), among others. Additionally, the segment is driven by macro-economic considerations including the level of import/export seaborne transportation, development of energy-related infrastructure, cruise line expansion and operations, marine bridge infrastructure development, waterway pipeline crossings and the maintenance of waterways. These considerations, and others, are key catalysts for future prospects and are similar across the segment. For the concrete segment, the Company also considered the similar economic characteristics of these operations. The methods used, and the internal processes employed, to deliver concrete construction services are similar throughout the segment, including standardized estimating, project controls and project management. The projects of this segment are subject to similar regulatory regimes such as OSHA. Additionally, this segment is driven by macro-economic considerations, including movements in population, commercial real estate development, institutional funding and expansion, and recreational development, specifically in metropolitan areas of Texas. These considerations, and others, are key catalysts for current operations and future prospects and are similar across the segment. Basis of Presentation These consolidated financial statements include the accounts of the parent company, Orion Group Holdings, Inc. and its wholly-owned subsidiaries and have been prepared in accordance with U.S. GAAP on the going concern basis of accounting, which assumes the Company will continue to operate as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. All intercompany balances and transactions have been eliminated in consolidation. ​ In connection with preparing consolidated financial statements for each annual and interim reporting period, the Company is required to evaluate whether there are conditions or events, considered in aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. Substantial doubt exists when conditions and events, considered in aggregate, indicate that it is probable that a company will be unable to meet its obligations as they become due within one year after the date that the consolidated financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management’s plans and actions that have not been fully implemented as of the date that the financial statements are issued. When substantial doubt exists, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both: (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued; and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. Generally, to be considered probable of being effectively implemented, the plans must have been approved before the date that the financial statements are issued. The assessment of the liquidity and going concern requires the Company to make estimates of future activity and judgments about whether the Company is compliant with financial covenant calculations under its debt and other agreements and has adequate liquidity to operate. Significant assumptions used in the Company's forecasted model of liquidity include forecasted sales, costs, and capital expenditures and expected timing and proceeds of planned real estate transactions. The Company has sustained operating losses for the years ended December 31, 2023, 2022 and 2021. Also as described in Note 10, the Company had $35.0 million of outstanding indebtedness under its prior credit facility as of December 31, 2022 which was scheduled to mature on July 31, 2023. As of the date of the filing of the Company’s 2022 Form 10-K on March 16, 2023, the Company’s existing cash and cash equivalents were not sufficient to satisfy the Company’s operating cash needs for at least one year after the issuance of the financial statements. These conditions raised substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements were issued. As such, management concluded at the date of the issuance of the financial statements included in the Company’s 2022 Form 10-K that substantial doubt existed as to going concern. At the beginning of 2023, the Company began a process to refinance the outstanding debt. On May 15, 2023, the Company entered into a with which Note 10 Based on an assessment of the completion of the debt refinancing process and the other factors above, management believes that the Company will have adequate liquidity for its operations for at least the next 12 months. Therefore, management’s conclusion is that the conditions that previously raised substantial doubt have been resolved and substantial doubt is no longer raised as to the Company’s ability to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Principles	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Principles	2. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s estimates, judgments and assumptions are continually evaluated based on available information and experience; however, actual amounts could differ from those estimates. On an ongoing basis, the Company evaluates the significant accounting policies used to prepare its consolidated financial statements, including, but not limited to, those related to: ● Revenue recognition from construction contracts; ● The recording of accounts receivable and allowance for credit losses; ● The carrying value of property, plant and equipment; ● Leases; ● Finite and infinite-lived intangible assets, testing for indicators of impairment; ● Stock-based compensation; ● Income taxes; and ● Self-insurance. Revenue Recognition The Company’s revenue is derived from contracts to provide marine construction, dredging, turnkey concrete services, and other specialty services. The Company’s projects are typically brief in duration, but occasionally, span a period of over one year. The Company determines the appropriate accounting treatment for each contract before work begins and, subject to qualifications discussed in the next paragraph, records contract revenue over time. Performance obligations are promises in a contract to transfer distinct goods or services to the customer and are the unit of account under Topic 606. Each of the Company’s contracts and related change orders typically represent a single performance obligation because the Company provides an integrated service and individual goods and services are not separately identifiable. Revenue is recognized over time because control of the promised goods and services are continuously transferred to the customer over the life of the contract. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using its best estimate of the stand-alone selling price of each distinct good or service. Progress is measured by the percentage of actual contract costs incurred to date to total estimated costs for each contract. This method is used because management considers contract costs incurred to be the best available measure of progress on these contracts. Contract costs include all direct costs, such as material and labor, and those indirect costs incurred that are related to contract performance such as payroll taxes and insurance. General and administrative costs are charged to expense as incurred. Upfront costs, such as costs to mobilize personnel and equipment prior to satisfying a performance obligation are capitalized and amortized over the contract performance period. Changes in job performance, job conditions and estimated profitability, including those arising from final contract settlements, may result in revisions to costs and reported revenue and are recognized in the period in which the revisions are determined. The effect of changes in estimates of contract revenue or contract costs is recognized as an adjustment to recognized revenue on a cumulative catch-up basis to match contract progress with revenue recognition. When the Company anticipates a loss on a contract that is not yet complete, it recognizes the entire loss in the period in which such losses are determined. Revenue is recorded net of any sales taxes collected and paid on behalf of the customer, if applicable. Contract revenue is derived from the original contract price as modified by agreed-upon change orders and estimates of variable consideration related to incentive fees and change orders or claims for which price has not yet been agreed by the customer. The Company estimates variable consideration based on its assessment of the most likely amount to which it expects to be entitled. Variable consideration is included in the estimated recognition of revenue to the extent it is probable that a significant reversal of cumulative recognized revenue will not occur. A determination that the collection of a claim is probable is based upon the Company’s evaluation of its compliance with the terms of the contract and the extent to which the Company performed in accordance therewith but does not guarantee collection in full. Assets and liabilities derived from contracts with customers include the following: ● Accounts Receivable: Trade, net of allowance - Represent amounts billed and currently due from customers and are stated at their estimated net realizable value. ● Accounts Receivable: Retainage - Represent amounts which have not been billed to or paid by customers due to retainage provisions in construction contracts, which amounts generally become payable upon contract completion and acceptance by the customer. ● Contract Assets - Represent revenues recognized in excess of amounts billed, which management believes will be billed and collected within one year of the completion of the contract and are recorded as a current asset, until such amounts are either received or written off. ● Contract Liabilities - Represent billings in excess of revenues recognized and are recorded as a current liability, until the underlying obligation has been performed or discharged. ​ Classification of Current Assets and Liabilities The Company includes in current assets and liabilities amounts realizable and payable in the next twelve months. Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At times, cash held by financial institutions may exceed federally insured limits. The Company has not historically sustained losses on its cash balances in excess of federally insured limits. Cash equivalents at December 31, 2023 and December 31, 2022 consisted primarily of overnight bank deposits. Risk Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk principally consist of accounts receivable. A significant portion of the Company’s revenue base depends on its ability to continue to obtain federal, state and local governmental contracts, and indirectly, on the amount of funding available to these agencies for new and current governmental projects. Therefore, a portion of the Company’s operations is dependent upon the level and timing of government funding. Statutory mechanics’ liens provide the Company high priority in the event of lien foreclosures following financial difficulties of private owners, thus minimizing credit risk with private customers. Accounts Receivable Accounts receivable are stated at the historical carrying value, net of allowances for credit losses. The Company had significant investments in billed and unbilled receivables as of December 31, 2023 and December 31, 2022. Billed receivables represent amounts billed upon the completion of small contracts and progress billings on large contracts in accordance with contract terms and milestone achievements. Unbilled receivables on contracts represent recoverable costs and accrued profits that are not yet capable of being billed under the terms of the applicable contracts. Revenue associated with these billings is recorded net of any sales tax, if applicable. In establishing an allowance for credit losses, the Company evaluates its contract receivables and contract assets and thoroughly reviews historical collection experience, the financial condition of its customers, billing disputes and other factors. The Company writes off potentially uncollectible accounts receivable against the allowance for credit losses if it is determined that the amounts will not be collected or if a settlement with respect to a disputed receivable is reached for an amount that is less than its carrying value. As of December 31, 2023 and December 31, 2022, the Company had recorded an allowance for credit losses of $0.4 million and $0.6 million, respectively. Balances billed to customers but not paid pursuant to retainage provisions in construction contracts generally become payable upon contract completion and acceptance by the owner. Retainage at December 31, 2023 totaled $42.0 million, of which $5.4 million is expected to be collected beyond December 31, 2024. Retainage at December 31, 2022 totaled $50.9 million. From time to time, the Company negotiates change orders and claims with its customers. Unsuccessful negotiations of claims could result in a change to contract revenue that is less than amounts previously recorded, which could result in the recording of a loss in the amount of the shortfall. Successful claims negotiations could result in the recovery of previously recorded losses. Significant losses on receivables could adversely affect the Company’s financial position, results of operations and overall liquidity. Advertising Costs The Company primarily obtains contracts through the open bid process, and therefore advertising costs are not a significant component of expense. Advertising costs are expensed as incurred. Environmental Costs Costs related to environmental remediation are charged to expense. Other environmental costs are also charged to expense unless they increase the value of the property and/or provide future economic benefits, in which event the costs are capitalized. Environmental liabilities, if any, are recognized when the liability is considered probable and the amount can be reasonably estimated. The Company did not recognize any environmental liabilities as of December 31, 2023 or December 31, 2022. Fair Value Measurements The Company evaluates and presents certain amounts included in the accompanying consolidated financial statements at “fair value” in accordance with U.S. GAAP, which requires the Company to base its estimates on assumptions that market participants, in an orderly transaction, would use to price an asset or liability, and to establish a hierarchy that prioritizes the information used to determine fair value. Refer to Note 7 The Company generally applies fair value valuation techniques on a non-recurring basis associated with (1) valuing assets and liabilities acquired in connection with business combinations and other transactions; (2) valuing potential impairment loss related to long-lived assets; and (3) valuing potential impairment loss related to goodwill and indefinite-lived intangible assets. Inventory Current inventory consists of parts and small equipment held for use in the ordinary course of business and is valued at the lower of cost (using historical average cost) or net realizable value and is relieved as utilized. Where shipping and handling costs are incurred by the Company, these charges are included in inventory and charged to cost of contract revenue upon use. Non-current inventory consists of spare parts (including engines, cutters and gears) that require special order or long-lead times for manufacture or fabrication, but must be kept on hand to reduce downtime and is valued at the lower of cost (using historical average cost) or net realizable value. Property and Equipment Property and equipment are recorded at cost. Ordinary maintenance and repairs that do not improve or extend the useful life of the asset are expensed as incurred. Major renewals and betterments of equipment are capitalized and depreciated generally over three When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in results of operations for the respective period. ​ Depreciation is computed using the straight-line method over the estimated useful lives of the related assets for financial statement purposes, as follows: ​ ​ ​ ​ Automobiles and trucks 3 to 10 years Buildings and improvements 10 to 30 years Construction equipment 3 to 10 years Vessels and other equipment 3 to 40 years Office equipment 3 to 5 years ​ The Company generally uses accelerated depreciation methods for tax purposes where beneficial. Dry-docking costs are capitalized and amortized using the straight-line method over a period ranging from three Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment loss is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or the fair value, less the costs to sell, and are no longer depreciated. There were no assets classified as held for sale as of December 31, 2023. There was $0.8 million of assets classified as held for sale as of December 31, 2022 that were included in prepaid expenses and other in the Company’s Consolidated Balance Sheets. Leases Management determines if a contract is or contains a lease at inception of the contract or modification of the contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset. Finance and operating lease right-of-use (“ROU”) assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the implicit rate is not determinable in most of the Company’s leases, management uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The expected lease term includes options to extend or terminate the lease when it is reasonably certain the Company will exercise such option. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. The Company’s lease arrangements have lease and non-lease components. Leases with an expected term of 12 months or less are not accounted for on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. See Note 18 Intangible Assets Intangible assets that have finite lives were amortized. In addition, the Company evaluated the remaining useful life of intangible assets in each reporting period to determine whether events and circumstances warrant a revision of the remaining period of amortization. Intangible assets that had infinite lives were not amortized, but were subject to impairment testing at least annually or more frequently if events or circumstances indicated that the asset may be impaired. The Company had one infinite-lived intangible asset, a trade name, which it tested for impairment annually on October 31, or whenever events or circumstances indicated that the carrying amount of the trade name may not be recoverable. Impairment was calculated as the excess of the trade name’s carrying value over its fair value. The fair value of the trade name was determined using the relief from royalty method, a variation of the income approach. This method assumes that if a company owns intellectual property, it does not have to “rent” the asset and is, therefore, “relieved” from paying a royalty. Once a supportable royalty rate is determined, the rate is then applied to the projected revenues over the expected remaining life of the intangible assets to estimate the royalty savings. This approach is dependent on a number of factors, including estimates of future growth and trends, royalty rates, discount rates and other variables. This one infinite-lived intangible asset was fully impaired as of December 31, 2023 due to the rebranding of the Company’s concrete segment in the fourth quarter of 2023. See Note 8 Stock-Based Compensation The Company recognizes compensation expense for equity awards over the vesting period based on the fair value of these awards at the date of grant. The computed fair value of these awards is recognized as a non-cash cost over the period the employee provides services, which is typically the vesting period of the award. The fair value of restricted stock grants and restricted stock units is equivalent to the fair value of the stock issued on the date of grant and is measured as the closing price of the stock on the date of grant. Compensation expense is recognized only for stock-based payments expected to vest. The Company estimates forfeitures at the date of grant based on historical experience and future expectations. This assessment is updated on a periodic basis. See Note 14 Income Taxes The Company determines its consolidated income tax provision using the asset and liability method prescribed by U.S. GAAP, which requires the recognition of income tax expense for the amount of taxes payable or refundable for the current period and for deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity’s financial statements or tax returns. The Company must make significant assumptions, judgments and estimates to determine its current provision for income taxes, its deferred tax assets and liabilities, and any valuation allowance to be recorded against any deferred tax asset. The current provision for income tax is based upon the current tax laws and the Company’s interpretation of these laws, as well as the probable outcomes of any tax audits. The value of any net deferred tax asset depends upon estimates of the amount and category of future taxable income reduced by the amount of any tax benefits that the Company does not expect to realize. Actual operating results and the underlying amount and category of income in future years could render current assumptions, judgments and estimates of recoverable net deferred taxes inaccurate, thus impacting the Company’s financial position and results of operations. The Company computes deferred income taxes using the liability method. Under the liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, Income Taxes ​ See Note 12 Insurance Coverage The Company maintains insurance coverage for its business and operations. Insurance related to property, equipment, automobile, general liability, and a portion of workers’ compensation is provided through traditional policies, subject to a deductible or deductibles. A portion of the Company’s workers’ compensation exposure is covered through a mutual association, which is subject to supplemental calls. The marine segment maintains five levels of excess loss insurance coverage, totaling $300 million in excess of primary coverage. The marine segment’s excess loss coverage responds to most of its policies when a primary limit of $1 million has been exhausted; provided that the primary limit for Contingent Maritime Employer’s Liability is $10 million and the Watercraft Pollution Policy primary limit is $5 million. The concrete segment maintains five levels of excess loss insurance coverage, totaling $300 million in excess of primary coverage. The concrete segment’s excess loss coverage responds to most of its policies when a primary limit of $1 million has been exhausted. If a claim arises and a potential insurance recovery is probable, the impending gain is recognized separately from the related loss. The recovery will only be recognized up to the amount of the loss once the recovery of the claim is deemed probable and any excess gain will fall under contingency accounting and will only be recognized once it is realized. The Company does not net insurance recoveries against the related claim liability as the amount of the claim liability is determined without consideration of the anticipated insurance recoveries from third parties. Separately, the Company’s marine segment employee health care is paid for by general assets of the Company and currently administered by a third party. The administrator has purchased appropriate stop-loss coverage. Losses on these policies up to the deductible amounts are accrued based upon known claims incurred and an estimate of claims incurred but not reported. The accruals are derived from known facts, historical trends and industry averages to determine the best estimate of the ultimate expected loss. Actual claims may vary from estimates. Any adjustments to such reserves are included in the Consolidated Statements of Operations in the period in which they become known. The Company’s concrete segment employee health care is provided through two policies. A fully funded policy is offered primarily to salaried employees and their dependents while a partially self-funded plan with an appropriate stop-loss is offered primarily to hourly employees and their dependents. The self-funded plan is funded to the maximum exposure and, as a result, is expected to receive a partial refund after the policy expiration. The total accrual for insurance claims liabilities was $7.5 million and $5.8 million at December 31, 2023 and December 31, 2022, respectively, reflected as a component of accrued liabilities in the consolidated balance sheet.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	3. Contract revenues are recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The following table represents a disaggregation of the Company’s contract revenues by service line for the marine and concrete segments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 2021 Marine Segment ​ ​ ​ Construction ​ $ 297,462 ​ $ 239,656 ​ $ 169,554 Dredging ​ 60,667 ​ 85,414 ​ 80,831 Specialty Services ​ 37,788 ​ 14,143 ​ 13,530 Marine segment contract revenues ​ $ 395,917 ​ $ 339,213 ​ $ 263,915 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Concrete Segment ​ ​ ​ Structural ​ $ 53,827 ​ $ 57,425 ​ $ 58,420 Light Commercial ​ 262,034 ​ 351,684 ​ 279,018 Other ​ — ​ — ​ 7 Concrete segment contract revenues ​ $ 315,861 ​ $ 409,109 ​ $ 337,445 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total contract revenues ​ $ 711,778 ​ $ 748,322 ​ $ 601,360 ​ The Company has determined that it has two reportable segments pursuant to FASB ASC Topic 280, Segment Reporting Note 1 Marine Segment Construction services include construction, restoration, maintenance, dredging and repair of marine transportation facilities, marine pipelines, bridges and causeways and marine environmental structures. Dredging services generally enhance or preserve the navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Specialty services include design, salvage, demolition, surveying, towing, diving and underwater inspection, excavation and repair. Concrete Segment Structural services include elevated concrete pouring for products such as columns, elevated beams and structural walls. Light commercial services include horizontally poured concrete for products such as slabs, sidewalks, ramps and tilt walls. Other services comprise labor related to concrete pouring such as rebar installation and pumping services and typically support the Company’s structural and light commercial services.

Concentration of Risk and Enter

Concentration of Risk and Enterprise-Wide Disclosures	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Concentration of Risk and Enterprise Wide Disclosures	4. In both reportable segments accounts receivable include amounts billed to governmental agencies and private customers and do not bear interest. Balances billed to customers but not paid pursuant to retainage provisions generally become payable upon contract completion and acceptance by the owner. ​ The table below presents the concentrations of current receivables (trade and retainage) at December 31, 2023 and December 31, 2022, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 Federal Government $ 8,885 6 % $ 4,612 3 % State Governments ​ 2,355 2 % 3,111 2 % Local Governments ​ 12,804 9 % 16,197 10 % Private Companies ​ 119,590 83 % 134,317 85 % Gross receivables ​ ​ 143,634 ​ 100 % ​ 158,237 ​ 100 % Allowance for credit losses ​ ​ (361) ​ ​ ​ ​ (606) ​ ​ ​ Net receivables ​ $ 143,273 ​ ​ $ 157,631 ​ ​ ​ At December 31, 2023, a Additionally, the table below represents concentrations of contract revenue by type of customer for the years ended December 31, 2023, 2022 and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 % 2022 % 2021 % Federal Government $ 153,410 22 % $ 80,116 11 % $ 54,480 9 % State Governments 59,354 8 % 62,516 8 % 4,790 1 % Local Government 99,621 14 % 125,015 17 % 120,311 20 % Private Companies 399,393 56 % 480,675 64 % 421,779 70 % Total contract revenues $ 711,778 100 % $ 748,322 100 % $ 601,360 100 % ​ In the year ended December 31, 2023, a The Company does not believe that the loss of any one of its customers would have a material adverse effect on the Company or its subsidiaries and affiliates since no single specific customer sustains such a large portion of receivables or contract revenue over time. The concrete segment primarily purchases concrete from select suppliers. The loss of any one of these suppliers could adversely impact short-term operations. Contract revenues generated outside the United States totaled 5.1%, 0.9% and 0.5% of total revenues for the years ended December 31, 2023, 2022 and 2021, respectively, and were primarily located in the Caribbean Basin.

Contracts in Progress

Contracts in Progress	12 Months Ended
	Dec. 31, 2023
Contractors [Abstract]
Contracts in Progress	​ ​ 5. Contracts in progress are as follows as of December 31, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Costs incurred on uncompleted contracts ​ $ 1,394,243 ​ $ 1,251,853 Estimated earnings ​ 176,904 ​ 180,705 ​ ​ 1,571,147 ​ 1,432,558 Less: Billings to date ​ (1,553,704) ​ (1,426,375) ​ ​ $ 17,443 ​ $ 6,183 Included in the accompanying Consolidated Balance Sheets under the following captions: ​ ​ Contract assets ​ $ 81,522 ​ $ 43,903 Contract liabilities ​ (64,079) ​ (37,720) ​ ​ $ 17,443 ​ $ 6,183 ​ Included in contract assets is approximately $13.0 million and $13.4 million at December 31, 2023 and December 31, 2022, respectively, related to claims and unapproved change orders. See Note 2 Remaining performance obligations represent the transaction price of firm orders or other written contractual commitments from customers for which work has not been performed or is partially completed and excludes unexercised contract options and potential orders. As of December 31, 2023, the aggregate amount of the remaining performance obligations was approximately $762.2 million. Of this amount, the current expectation of the Company is that it will recognize $650.4 million, or 85%, in the next 12 months and the remaining balance thereafter.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	6. The following is a summary of property and equipment as of December 31, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Automobiles and trucks ​ $ 1,985 ​ $ 2,232 Building and improvements ​ 36,931 ​ 36,952 Construction equipment ​ 125,705 ​ 130,660 Vessels and other equipment ​ 94,030 ​ 91,495 Office equipment ​ 6,708 ​ 6,885 ​ ​ 265,359 ​ 268,224 Less: Accumulated depreciation ​ (206,243) ​ (195,948) Net book value of depreciable assets ​ 59,116 ​ 72,276 Construction in progress ​ 3,770 ​ 816 Land ​ 24,948 ​ 27,885 ​ ​ $ 87,834 ​ $ 100,977 ​ For the years ended December 31, 2023 and 2022, depreciation expense was $18.4 million and $19.7 million, respectively. Substantially all depreciation expense is included in the cost of contract revenue in the Company’s Consolidated Statements of Operations. Substantially all of the assets of the Company are pledged as collateral under the Company’s Credit Agreement (as defined in Note 10 Substantially all of the Company’s long-lived assets are located in the United States. See Note 2

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value	7. Recurring Fair Value Measurements The fair value of financial instruments is the amount at which the instrument could be exchanged in a current transaction between willing parties. Due to their short-term nature, the Company believes that the carrying value of its accounts receivable, other current assets, accounts payable and other current liabilities approximate their fair values. The Company classifies financial assets and liabilities into the following three levels based on the inputs used to measure fair value in the order of priority indicated: ● Level 1- fair values are based on observable inputs such as quoted prices in active markets for identical assets or liabilities; ● Level 2 - fair values are based on pricing inputs other than quoted prices in active markets for identical assets and liabilities and are either directly or indirectly observable as of the measurement date; and ● Level 3- fair values are based on unobservable inputs in which little or no market data exists. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value requires judgment and may affect the placement of assets and liabilities within the fair value hierarchy levels. The following table sets forth by level within the fair value hierarchy the Company’s recurring financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ Carrying Value Level 1 Level 2 Level 3 December 31, 2023 ​ ​ ​ ​ ​ Assets: ​ Cash surrender value of life insurance policy ​ $ 1,299 — 1,299 — December 31, 2022 ​ ​ ​ ​ ​ Assets: ​ Cash surrender value of life insurance policy ​ $ 1,811 — 1,811 — ​ Our concrete segment has life insurance policies with a combined face value of $11.1 million as of December 31, 2023. The policies are invested in mutual funds and the fair value measurement of the cash surrender balance associated with these policies is determined using Level 2 inputs within the fair value hierarchy and will vary with investment performance. These assets are included in the “Other non-current” asset section in the Company’s Consolidated Balance Sheets. Non-Recurring Fair Value Measurements The Company generally applies fair value valuation techniques on a non-recurring basis associated with (1) valuing assets and liabilities acquired in connection with business combinations and other transactions; (2) valuing potential impairment loss related to long-lived assets; and (3) valuing potential impairment loss related to the infinite-lived intangible asset. Other Fair Value Measurements The fair value of the Company’s debt at December 31, 2023 and 2022 approximated its carrying value of $42.3 million and $35.7 million, respectively, as interest is based on current market interest rates for debt with similar risk and maturity. If the Company’s debt was measured at fair value, it would have been classified as Level 2 in the fair value hierarchy.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2023
Intangible Assets
Intangible Assets	8. The tables below present the activity and amortizations of finite-lived intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Finite-lived intangible assets, beginning of period ​ $ 35,242 ​ $ 34,242 Additions ​ — ​ — Total finite-lived intangible assets, end of period ​ $ 35,242 ​ $ 35,242 ​ ​ ​ ​ ​ ​ ​ Accumulated amortization, beginning of period ​ $ (34,815) ​ $ (33,576) Current year amortization ​ (427) ​ (1,239) Total accumulated amortization ​ (35,242) ​ (34,815) ​ ​ ​ ​ ​ ​ ​ Net finite-lived intangible assets, end of period ​ $ — ​ ​ 427 Infinite-lived intangible assets ​ ​ — ​ ​ 6,890 Total net intangible assets ​ $ — ​ $ 7,317 ​ Remaining net finite-lived intangible assets were acquired as part of the purchase of TAS during 2015 and TBC during 2017 and included customer relationships. Customer relationships were valued at approximately $18.8 million and are being amortized over eight years using an accelerated method based on the pattern in which the economic benefits of the assets are consumed. For the years ended December 31, 2023 and 2022, $0.4 million and $1.2 million, respectively, of amortization expense was recognized for these assets. As of December 31, 2023 all finite-lived intangible assets acquired as part of the purchase of TAS were fully amortized. The Company evaluated the infinite-lived intangible assets which consisted of the TAS Concrete Construction tradename and as a result of the Company’s strategic decision to rebrand its concrete segment under the Orion banner the Company determined that the estimated fair value of the TAS Concrete Construction tradename is less than the carrying amount and an impairment loss of $6.9 million was recognized under ASC 350. As of December 31, 2023 all of the Company’s intangible assets are fully amortized or impaired.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued Liabilities	9. Accrued liabilities as of December 31, 2023 and 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Accrued salaries, wages and benefits ​ $ 19,759 ​ $ 7,605 Accrued liabilities expected to be covered by insurance ​ 7,478 ​ 5,757 Sales taxes ​ 2,510 ​ 1,737 Property taxes ​ 1,111 ​ 522 Sale-leaseback arrangement ​ ​ 3,761 ​ ​ 813 Accounting and audit fees ​ ​ 659 ​ ​ 222 Interest ​ 530 ​ 60 Other accrued expenses ​ 1,266 ​ 1,750 Total accrued liabilities ​ $ 37,074 ​ $ 18,466 ​

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	10. On May 15, 2023, the Company entered into the Credit Agreement three The Credit Agreement is secured by substantially all of the assets of the Company and its subsidiaries, including fixed assets and account receivables, and is used to finance general corporate and working capital purposes, capital expenditures, and permitted acquisitions and associated fees, to refinance existing indebtedness, and to pay for all expenses related to the Credit Agreement. Amounts repaid under the Revolver can be re-borrowed. The Revolver initially bears interest at a rate of the 30-day SOFR plus 5.5% and the Term Loan at a rate of the 30-day SOFR plus 8.0%, subject to a SOFR floor of 4.0%. The yearly weighted average interest rate for the Credit Agreement, as of December 31, 2023 was 12.00%. ​ The Company’s obligations under debt arrangements consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 ​ ​ Debt Issuance ​ ​ Debt Issuance ​ ​ ​ Principal ​ Costs (1) ​ Total ​ Principal ​ Costs (1) ​ Total Revolving line of credit ​ $ — ​ $ — ​ $ — ​ $ 35,000 ​ $ (327) ​ $ 34,673 Term loan - current ​ ​ 15,000 ​ ​ (2,024) ​ ​ 12,976 ​ ​ — ​ ​ — ​ ​ — Other debt ​ ​ 477 ​ ​ — ​ ​ 477 ​ ​ 283 ​ ​ — ​ ​ 283 Total current debt ​ 15,477 ​ (2,024) ​ 13,453 ​ 35,283 ​ (327) ​ 34,956 Term loan - long-term ​ 23,000 ​ (3,104) ​ 19,896 ​ — ​ — ​ — Other debt ​ ​ 3,844 ​ ​ — ​ ​ 3,844 ​ ​ 716 ​ ​ — ​ ​ 716 Total long-term debt ​ ​ 26,844 ​ ​ (3,104) ​ ​ 23,740 ​ ​ 716 ​ ​ — ​ ​ 716 Total debt ​ $ 42,321 ​ $ (5,128) ​ $ 37,193 ​ $ 35,999 ​ $ (327) ​ $ 35,672 (1) Total debt issuance costs include underwriter fees, legal fees, syndication fees and fees related to the execution of the Credit Agreement and the termination and repayment of the Company’s prior credit facility. Provisions of the revolving line of credit The Company has a maximum borrowing capacity under the Revolver of $65.0 million. There is a letter of credit sublimit that is equal to the lesser of $5.0 million and the aggregate unused amount of the revolving commitments then in effect. The Company is subject to a commitment fee for the unused portion of the maximum borrowing availability under the Revolver. The Revolver termination date is the earlier of the Credit Agreement termination date, May 15, 2026, or the date the outstanding balance is permanently reduced to zero, in accordance with the terms of the Credit Agreement. As of December 31, 2023, the Company had no borrowings under the Revolver. The Company’s borrowing availability under the Revolver at December 31, 2023 was approximately $47.7 million. During the year ended December 31, 2023, the Company borrowed $64.0 million on the Revolver. During the year ended December 31, 2023, the Company repaid $64.0 million outstanding on the Revolver. Financial covenants Restrictive financial covenants under the Credit Agreement include: ​ ● A Consolidated Fixed Charge Coverage Ratio to not be less than the following during each noted period: - Fiscal Quarter Ending June 30, 2024 and each Fiscal Quarter thereafter, to not be less than 1.10 to 1.00. ​ ● A Revolver Loan Turnover Ratio to not be less than the following during each noted period: - Fiscal Quarter Ending December 31, 2023 and each Fiscal Quarter thereafter, to not be less than 2.50 to 1.00. ● A Term Loan Loan-to-Value Ratio to not be greater than the following during each noted period: - Fiscal Quarter Ending December 31, 2023 and each Fiscal Quarter thereafter, to not be more than 60% . ​ ● A Minimum EBITDA to not be less than the following during each noted period: - Tri-Quarterly Test Period Ended December 31, 2023 - $14,975,675 - Last-Twelve-Months Test Period Ended March 31, 2024 - $29,703,993 ● The Company shall maintain Liquidity (as defined in the Credit Agreement) of greater than $15.0 million at all times. In addition, the Credit Agreement contains events of default that are usual and customary for similar arrangements, including non-payment of principal, interest or fees; breaches of representations and warranties that are not timely cured; violation of covenants; bankruptcy and insolvency events; and, events constituting a change of control. The Company was in compliance with all financial covenants as of December 31, 2023. Other debt The Company has entered into debt agreements with De Lage Landen Financial Services, Inc. and Mobilease for the purpose of financing equipment purchased. As of December 31, 2023 and December 31, 2022, the carrying value of this debt was $1.9 million and $1.0 million, respectively. The agreements are secured by the financed equipment assets and the debt is included as a component of current debt and long-term debt on the Condensed Consolidated Balance Sheets. On June 23, 2023, the Company closed on a land-sale leaseback contract for the Company’s Port Lavaca South Yard property located in Port Lavaca, Texas for a purchase price of $12.0 million. A portion of the operating lease above the fair value of the land was financed by the Company. As of December 31, 2023, the carrying value of this debt was $2.4 million.

Other Long-Term Liabilities

Other Long-Term Liabilities	12 Months Ended
	Dec. 31, 2023
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Other Long-Term Liabilities	​ 11. ​ Other long-term liabilities at December 31, 2023 and 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Sale-leaseback arrangement ​ $ 23,689 ​ $ 15,156 Deferred compensation ​ 1,293 ​ 1,639 Accrued liabilities expected to be covered by insurance ​ ​ 338 ​ 277 Total other long-term liabilities ​ $ 25,320 ​ $ 17,072 ​ Sale-Leaseback Arrangements On May 15, 2023, the Company entered into a $13.0 million sale-leaseback of certain equipment in which the Company leased-back the equipment for terms ranging from one Concurrent with the sale of Company’s Port Lavaca South Yard property, the Company entered into a twenty-year lease agreement whereby the Company will lease back the property at an annual rental rate of approximately $1.1 million, subject to annual rent increases of 2.5%. Under the lease agreement, the Company has four consecutive options to extend the term of the lease by five years for each such option. The portion of the above transaction above related to the building was recorded as a failed sale-leaseback. On September 27, 2019, the Company entered into a purchase and sale agreement (the “Purchase and Sale Agreement”). Pursuant to the terms of the Purchase and Sale Agreement, the Company sold its 17300 & 17140 Market Street location in Channelview, Texas for a purchase price of $19.1 million. Concurrent with the sale of the property, the Company entered into a fifteen-year lease agreement whereby the Company will lease back the property at an annual rental rate of approximately $1.5 million, subject to annual rent increases of 2.0%. Under the lease agreement, the Company has two consecutive options to extend the term of the lease by ten years for each such option. The transaction above was recorded as a failed sale-leaseback. Related to the failed sale-leasebacks, the Company recorded liabilities for the amounts received, will continue to depreciate the non-land portion of the assets, and has imputed an interest rate so that the net carrying amount of the financial liability and remaining assets will be zero at the end of the initial lease terms.

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Tax	12. ​ The following table presents the components of our consolidated income tax expense for the years ended December 31, 2023, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Deferred Total Year ended December 31, 2023 ​ ​ ​ U.S. Federal ​ $ 27 ​ $ — ​ $ 27 State and local ​ 415 ​ $ (79) ​ ​ 336 Foreign ​ (8) ​ (25) ​ (33) ​ ​ $ 434 ​ $ (104) ​ $ 330 Year ended December 31, 2022 ​ ​ ​ U.S. Federal ​ $ — ​ $ — ​ $ — State and local ​ 449 ​ $ (29) ​ ​ 420 Foreign ​ (34) ​ 43 ​ 9 ​ ​ $ 415 ​ $ 14 ​ $ 429 Year ended December 31, 2021 ​ ​ ​ U.S. Federal ​ $ — ​ $ — ​ $ — State and local ​ 243 ​ ​ (20) ​ ​ 223 Foreign ​ 268 ​ 11 ​ 279 ​ ​ $ 511 ​ $ (9) ​ $ 502 ​ The Company’s income tax provision reconciles to the provision at the statutory U.S. federal income tax rate for each year ended December 31, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Statutory amount ​ $ (3,685) ​ $ (2,558) ​ $ (2,952) ​ Valuation allowance on foreign tax credits ​ (438) ​ (136) ​ 186 ​ State income tax, net of federal benefit ​ 69 ​ 251 ​ 44 ​ Permanent differences, other ​ 749 ​ 185 ​ 303 ​ Permanent differences, stock compensation ​ (40) ​ 217 ​ (262) ​ Valuation allowance, other ​ 3,675 ​ 2,251 ​ 3,108 ​ Other ​ — ​ 219 ​ 75 ​ Consolidated income tax provision ​ $ 330 ​ $ 429 ​ $ 502 ​ Consolidated effective tax rate ​ (1.9) % (3.5) % (3.6) % ​ In the year ended 2023, the Company’s effective tax rate differed from the statutory federal rate of 21% primarily due to the tax impact from the valuation allowance for current year activity, state income taxes and the non-deductibility of other permanent items. In the year ended 2022, the Company’s effective tax rate differed from the statutory federal rate of 21% primarily due to the tax impact from the valuation allowance for current year activity, state income taxes and the non-deductibility of other permanent items. In the year ended 2021, the Company’s effective tax rate differed from the statutory federal rate of 21% primarily due to the valuation allowance related to the current year net loss. ​ Deferred Taxes The Company’s deferred tax assets and liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long Term ​ ​ As of December 31, ​ 2023 2022 Assets related to: ​ ​ Accrued liabilities ​ $ 1,581 ​ $ 1,320 Intangible assets ​ 3,226 ​ 2,161 Net operating loss carryforward ​ 14,594 ​ 16,699 Stock-based compensation ​ 221 ​ 276 Foreign tax credits ​ 3,394 ​ 3,831 Goodwill ​ 3,534 ​ 4,328 Leases ​ ​ 16,146 ​ ​ 9,018 Other ​ 2,656 ​ 2,301 Total gross deferred tax assets ​ 45,352 ​ 39,934 Less valuation allowance ​ ​ (20,795) ​ ​ (17,557) Total net deferred tax assets ​ ​ 24,557 ​ ​ 22,377 Liabilities related to: ​ ​ ​ Depreciation and amortization ​ (23,116) ​ (22,362) Other ​ (1,479) ​ (156) Total deferred tax liabilities ​ (24,595) ​ (22,518) Net deferred tax liabilities ​ $ (38) ​ $ (141) ​ The Company has net operating loss carryforwards for federal income tax purposes of $41.7 million as of December 31, 2023, which are available to reduce future taxable income. The Company’s federal net operating losses arose after the 2017 tax year and can be carried forward for an indefinite period of time but are limited to offset 80% of taxable income in any given year. The Company has state net operating losses of $128.5 million that expire beginning in 2027. A portion of the state losses that arose after the 2017 tax year may be carried forward indefinitely. Additionally, the Company has foreign tax credits of $3.4 million that can be carried forward for up to ten years. The Company has foreign tax credits that will expire in 2026. The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to realize the existing deferred tax assets. The Company considers the scheduled reversal of deferred tax liabilities, available carryback periods, and tax-planning strategies in making this assessment. According to ASC subtopic 740-10, the Company’s history of losses is a significant piece of negative evidence. This negative evidence is weighed more heavily than the Company’s subjective positive evidence such as our estimated future taxable income and growth. Therefore, as of December 31, 2023, the Company continues to maintain a valuation allowance of $20.8 million. This valuation allowance increased by $3.2 million during the year ended December 31, 2023 primarily to offset deferred tax assets generated during the period. Uncertain Tax Benefits The Company and its subsidiaries file consolidated federal income tax returns in the United States and also file in various states and foreign jurisdictions. With few exceptions, the Company remains subject to federal and state income tax examinations for the years of 2013-2022. As of December 31, 2023, the Company has recorded unrecognized tax benefits of $1.6 million for uncertain tax positions. The Company expects the unrecognized tax benefits as of December 31, 2023 for certain federal income tax matters will significantly change over the next 12 months due to a lapse of the statute of limitations. The final outcome of these uncertain tax positions is not yet determinable. ​ The change in the total gross unrecognized tax benefits and prior year audit resolutions of the Company during the years ended December 31, 2023 and 2022 are reconciled in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Balance at beginning of the year ​ $ 1,614 ​ $ 1,614 Additions based on tax position related to current year ​ — ​ — Additions based on tax positions related to prior years ​ — ​ — Reductions based on tax positions related to current year ​ — ​ — Reductions based on tax positions related to prior years ​ — ​ — Settlements with tax authorities ​ — ​ — Lapse of statute of limitations ​ — ​ — Balance at end of the year ​ $ 1,614 ​ $ 1,614 ​ The Company’s policy is to recognize interest and penalties related to any unrecognized tax liabilities as additional tax expense. No interest or penalties have been accrued at December 31, 2023 and 2022. The Company believes it has appropriate and adequate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open years based on an assessment of many factors including past experience and interpretations of tax law applied to the facts of each matter. Although the Company believes its recorded assets and liabilities are reasonable, tax regulations are subject to interpretation and tax litigation is inherently uncertain; therefore the Company’s assessments can involve both a series of complex judgments about future events and rely heavily on estimates and assumptions. Although the Company believes that the estimates and assumptions supporting its assessments are reasonable, the final determination of tax audit settlements and any related litigation could be materially different from that which is reflected in historical income tax provisions and recorded assets and liabilities. If the Company were to settle an audit or a matter under litigation, it could have a material effect on the income tax provision, net income, or cash flows in the period or periods for which that determination is made. Any accruals for tax contingencies are provided for in accordance with U.S. GAAP . The Company’s statute of limitations on the tax position will expire prior to December 31, 2024.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	13. Basic earnings per share is based on the weighted average number of common shares outstanding during each period. Diluted earnings per share is based on the weighted average number of common shares outstanding as well as the effect of all dilutive common stock equivalents during each period net income is generated. For the years ended December 31, 2023, 2022 and 2021, the Company had 250,264, 490,678, and 831,077, securities, respectively, that were potentially dilutive in earnings per share calculations. Such dilution is dependent on the excess of the market price of our stock over the exercise price and other components of the treasury stock method. The exercise price for certain stock options awarded by the Company exceeded the average market price of the Company’s common stock for the years ended December 31, 2023, 2022 and 2021. Such stock options are antidilutive and are not included in the computation of earnings per share for those periods. The following table reconciles the denominators used in the computations of both basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 2021 Basic: Weighted average shares outstanding 32,346,992 31,402,328 30,763,527 Diluted: Total basic weighted average shares outstanding 32,346,992 31,402,328 30,763,527 Effect of potentially dilutive securities: Common stock options — — — Total weighted average shares outstanding assuming dilution 32,346,992 31,402,328 30,763,527 ​

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	​ ​ 14. The 2022 three Restricted Stock The following table summarizes the restricted stock activity under the Company’s equity incentive plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number ​ Average ​ ​ of ​ Fair Value ​ ​ Shares ​ Per Share Nonvested at January 1, 2021 950,436 ​ $ 3.04 Granted 916,531 ​ $ 4.58 Vested (690,676) ​ $ 3.43 Forfeited shares (234,232) ​ $ 4.22 Nonvested at December 31, 2021 942,059 ​ $ 3.97 Granted 1,603,434 ​ $ 2.73 Vested (806,241) ​ $ 2.90 Forfeited shares (382,480) ​ $ 4.60 Nonvested at December 31, 2022 1,356,772 ​ $ 2.96 Granted 1,031,853 ​ $ 2.42 Vested (782,949) ​ $ 2.83 Forfeited shares (390,886) ​ $ 3.12 Nonvested at December 31, 2023 1,214,790 ​ $ 2.53 ​ In January 2023, certain officers and executives of the Company were awarded a total of 180,833 shares of restricted common stock with a vesting period of three years and a fair value of $3.00 per share. In March 2023, the Company formalized the performance measures related to the August 2022 and September 2022 grants of 328,909 performance units to two executives In May 2023, the Company granted an executive of the Company 4,000 shares of restricted common stock with a vesting period of three years and a fair value of $2.50 per share. In May 2023, the Company’s seven independent directors were awarded an aggregate of 238,637 shares of restricted common stock. The shares vested immediately on the date of the grant. The fair value on the date of grant of all shares awarded was $2.64 per share. In July 2023, the Company granted an executive of the Company 12,862 shares of restricted common stock with a vesting period of three years and a fair value of $3.11 per share. In October 2023, certain officers and executives of the Company were awarded a total of 152,000 shares of restricted common stock with a vesting period of three years and a fair value of $4.95 per share. In November 2023, the Company granted an executive of the Company 61,602 shares of restricted common stock with a vesting period of three years. In addition, the executive was awarded a total of 41,068 performance-based units. The performance-based units will potentially vest 100% if an objective, tiered return on invested capital, measured over a three-year performance period, is achieved. The Company evaluates the probability of achieving this each reporting period. The fair value of all grants awarded in November 2023 was $4.87 per share or unit. In January 2022, the Company granted an independent director 8,929 shares of restricted common stock, which vested immediately on the date of grant and had a fair value on the date of grant of $3.36 per share. In May 2022, independent directors as well as Mr. Austin J. Shanfelter, the Company’s Executive Chairman, Interim Chief Executive Officer and Interim Chief Financial Officer, were awarded an aggregate of 623,655 shares of restricted common stock. The total number included 193,548 shares, which were awarded to the six independent directors and vested immediately on the date of the grant, as well as 430,107 shares of time-vested restricted stock units awarded to Mr. Shanfelter. In September 2022, 179,211 of the time-vested restricted stock units cliff vested and were settled in stock as a result of Mr. Shanfelter fulfilling his term as Interim Chief Executive Officer. In March 2023, the remaining 250,896 time-vested restricted stock units cliff vested and were settled in stock as a result of Mr. Shanfelter fulfilling his term as Executive Chairman. The fair value on the date of the grant of all shares awarded in May 2022 was $2.79 per share. In August 2022, the Company granted an executive 446,097 shares of restricted common stock with a vesting period of three years. In addition, the Company granted the executive 241,636 performance-based units. The performance-based units will potentially vest 100% if an objective, tiered return on invested capital, measured over a three-year performance period, is achieved. The Company evaluates the probability of achieving this each reporting period. The fair value of all grants awarded in August 2022 was $2.69 per unit. In September 2022, the Company granted an executive 130,909 shares of restricted common stock with a vesting period of three years. In addition, the Company granted the executive 87,273 performance-based units. The performance-based units will potentially vest 100% if an objective, tiered return on invested capital, measured over a three-year performance period, is achieved. The Company evaluates the probability of achieving this each reporting period. The fair value of all grants awarded in September 2022 was $2.75 per unit. In November 2022, the Company granted an executive of the Company 64,935 shares of restricted common stock, which vested immediately on the date of grant. The fair value of all shares awarded on the date of grant was $2.31 per share. In May 2021, the Company’s six independent directors each received equity compensation grants of 14,975 shares, with a fair value of $6.01 per share. In September 2021, the Company granted an independent director 18,215 shares of restricted common stock, which vested immediately on the date of grant. The fair value of all shares awarded on the date of grant was $5.49. In May 2021, certain officers and executives of the Company were awarded 160,000 shares of restricted common stock with a vesting period of three years and a fair value of $6.01 per share. In September 2021, the Company granted an executive of the Company 9,901 shares of restricted common stock with a vesting period of three years and a fair value of $5.05 per share. In May 2021, the Company awarded certain executives 240,000 performance-based units. The performance-based units will potentially vest 100% if an objective, tiered return on invested capital, measured over a three-year performance period, is achieved. The Company evaluates the probability of achieving this each reporting period. The fair value of all units awarded on the date of the grant was $6.01 per unit. In December 2023, the Company determined the performance-based units awarded in May 2021 will in all likelihood not vest due to the objective, tiered return on invested capital, measured over a three-year performance period not being met. As a result, the Company made the determination that the remaining outstanding shares under the grant will be forfeited. In December 2021, certain officers and executives of the Company were awarded 139,000 shares of restricted common stock with a vesting period of three years and a fair value of $3.75 per share. In August 2021, the Company determined the performance-based units awarded in May 2020 vested near the outperformance level established above the target set based on the achievement of an objective, tiered return on invested capital, measured over a one-year performance period ending June 30, 2021. As a result, the executives earned an additional 259,565 performance-based units with a fair value of $2.26, of which 50% vested immediately on the date of determination and 25% each will vest on the first and second anniversary of the date of determination. Stock Options The following table summarizes the stock option activity under the Company’s equity incentive plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Weighted ​ ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number ​ Exercise ​ Contractual ​ Aggregate ​ ​ of ​ Price ​ Life ​ Intrinsic ​ ​ Shares ​ Per Share ​ (Years) ​ Value Outstanding at January 1, 2021 922,615 ​ $ 7.10 ​ Exercised ​ (28,546) ​ $ 3.86 ​ ​ ​ ​ ​ Forfeited (169,365) ​ $ 6.32 ​ Outstanding at December 31, 2021 724,704 ​ $ 7.41 ​ Forfeited (421,375) ​ $ 7.49 ​ Outstanding at December 31, 2022 303,329 ​ $ 7.29 ​ Forfeited (70,465) ​ $ 7.74 ​ Outstanding at December 31, 2023 232,864 ​ $ 7.15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest at December 31, 2023 232,864 ​ $ 7.15 3.07 ​ $ — Exercisable at December 31, 2023 232,864 ​ $ 7.15 3.07 ​ $ — ​ For years ended December 31, 2023, 2022 and 2021, compensation expense related to stock based awards outstanding for the periods was $2.0 million, $2.8 million and $2.4 million, respectively. The Company applies a 3.2% and 5.5% forfeiture rate, which gets compounded over the vesting terms of the individual award, to its restricted stock and option grants, respectively, based on historical analysis. For the years ended December 31, 2023, 2022 and 2021, payments related to tax withholding for share-based compensation for certain officers of the Company were approximately $0.5 million, $0.4 million and $0.9 million, respectively. In the years ended December 31, 2023 and December 31, 2022, no stock options were exercised. In the year ended December 31, 2021, the Company received proceeds of approximately $0.1 million upon the exercise of 28,546 options. As of December 31, 2023, total unrecognized compensation expense related to unvested stock was approximately $3.2 million, which is expected to be recognized over a period of approximately 2.2 years. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Total intrinsic value of options exercised ​ $ — ​ $ — ​ $ 50 Total fair value of shares vested ​ $ 2,407 ​ $ — ​ $ 93 ​

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefits	15. All of the Company’s employees except independent contractors, Associate Divers, the Associate Tugmasters, residents of Puerto Rico, and employees covered by a collective bargaining agreement, unless the agreement requires the employee to be included under the plan, are eligible to participate in the Company’s 401(k) Retirement Plan on the first day of any month following their date of hire. Each participant may contribute between 1% and 80% of eligible compensation on a pre-tax basis, Roth after-tax or a combination of pre-tax and Roth, up to the annual IRS limit. The Company matches 100% on the first 3% of eligible compensation contributed to the Plan and 50% on the next 2% of eligible compensation contributed to the Plan. Participants’ contributions are fully vested at all times. Because the Plan is a Safe Harbor Plan, the money Orion contributes to employees’ accounts in the form of a match and any related earnings become theirs immediately upon receipt. At its discretion, the Company may make additional matching and profit-sharing contributions. During the years ended December 31, 2023, 2022 and 2021 the Company contributed $2.7 million, $1.4 million and $1.4 million, respectively, in matching contributions. The Company contributes to several multi-employer defined pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. Risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: ● Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers; ● If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and ● If the Company chooses to stop participating in its multi-employer plans, it may be required to pay a withdrawal liability based on the underfunded status of the plan. The following table presents the Company’s participation in these plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Protection ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expiration ​ ​ ​ ​ Act ("PPA") ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ of ​ ​ Employer ​ Certified Zone Status ​ FIP/RP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collective ​ ​ Identification ​ (1) ​ Status ​ Contributions ​ Surcharge ​ Bargaining Pension Trust Fund ​ Number ​ 2023 ​ 2022 ​ P/I (2) ​ 2023 ​ 2022 ​ 2021 ​ Imposed ​ Agreement International Union of Operating Engineers - Employers Construction Industry Retirement Plan - Local 302 and 612 Trust Funds 91-6028571 Green Green N/A $ 1,340 $ 1,289 $ 1,297 — 2024 Washington Laborers ​ 91-6022315 ​ Green ​ Green ​ N/A ​ $ 137 ​ $ 106 ​ $ 244 ​ — ​ 2024 Carpenters Retirement Plan of Western Washington 91-6029051 Green Green N/A ​ $ 1,906 ​ $ 1,717 ​ $ 1,700 — 2024 Cement Masons & Plasterers Trust Funds ​ 91-6066773 ​ N/A ​ N/A ​ N/A ​ $ — ​ $ — ​ $ 32 ​ — ​ N/A Western Conference of Teamsters Pension Trust Fund ​ 91-6145047 ​ Green ​ Green ​ N/A ​ $ 46 ​ $ 44 ​ $ 44 ​ — ​ 2024 Hawaii Operating Engineers Local 3 Trust Funds ​ 81-3751949 ​ Green ​ Green ​ N/A ​ $ 121 ​ $ — ​ $ — ​ — ​ 2024 Hawaii Regional Council of Carpenters ​ 45-3998630 ​ Green ​ Green ​ N/A ​ $ 128 ​ $ — ​ $ — ​ — ​ 2024 (1) The most recent PPA zone status available in 2023 and 2022 is for the plan’s year end during 2022 and 2021, respectively. Zone status is based on information received from the plan and is indicative of the plans funding status. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the orange zone are less than 80 percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next six years, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. (2) The FIP/RP Status P/I column indicates plans for which a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending (“P”), or implemented (“I”). There are currently no plans to withdraw from any of the multi-employer plans in which the Company participates.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. The Company is involved in

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	17. The Company currently operates in two reportable segments: marine and concrete. The Company’s financial reporting systems present various data for management to run the business, including profit and loss statements prepared according to the segments presented. Management uses operating income to evaluate performance between the two segments. Segment information for the periods presented is provided as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 ​ 2022 ​ 2021 Marine ​ ​ ​ ​ ​ ​ ​ ​ Contract revenues ​ $ 395,917 ​ $ 339,213 ​ $ 263,915 Operating income ​ 3,670 ​ 9,787 ​ 5,760 Depreciation and amortization expense ​ (18,219) ​ (16,592) ​ (17,287) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 318,684 ​ $ 239,369 ​ ​ ​ Property and equipment, net ​ 82,215 ​ 91,390 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Concrete ​ ​ ​ Contract revenues ​ $ 315,861 ​ $ 409,109 ​ $ 337,445 Operating loss ​ (10,300) ​ (17,817) ​ (15,077) Depreciation and amortization expense ​ (5,659) ​ (7,465) ​ (8,143) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 98,209 ​ $ 127,786 ​ ​ ​ Property and equipment, net ​ 5,619 ​ 9,587 ​ ​ ​ ​ There was less than $0.1 million, $0.2 million and less than $0.1 million in intersegment revenues between the Company’s two reportable segments for the years ended December 31, 2023, 2022 and 2021, respectively. The marine segment had foreign revenues of $36.1 million, $6.7 million and $2.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. These revenues are derived from projects in the Caribbean Basin and are paid primarily in U.S. dollars. There was no foreign revenue for the concrete segment.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	18. Leases ​ The Company has operating and finance leases for office space, equipment and vehicles. Leases recorded on the balance sheet consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, Leases ​ 2023 2022 Assets ​ ​ ​ ​ ​ Operating lease right-of-use assets, net (1) ​ $ 25,696 $ 14,978 Financing lease right-of-use assets, net (2) ​ 23,602 15,839 Total assets ​ $ 49,298 $ 30,817 Liabilities ​ Current ​ Operating ​ $ 9,254 $ 4,738 Financing ​ 8,665 4,031 Total current ​ 17,919 8,769 Noncurrent ​ Operating ​ 16,632 11,018 Financing ​ 13,746 11,102 Total noncurrent ​ 30,378 22,120 Total liabilities ​ $ 48,297 $ 30,889 (1) Operating lease right-of-use assets are recorded net of accumulated amortization of $15.6 million and $10.5 million as of December 31, 2023 and 2022, respectively. (2) Financing lease right-of-use assets are recorded net of accumulated amortization of $10.2 million and $5.1 million as of December 31, 2023 and 2022, respectively. Other information related to lease term and discount rate is as follows: ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 Weighted Average Remaining Lease Term (in years) ​ ​ Operating leases 5.90 ​ 3.90 ​ Financing leases 2.83 ​ 4.36 ​ Weighted Average Discount Rate ​ ​ ​ ​ Operating leases 9.32 % 4.86 % Financing leases 7.53 % 5.62 % ​ The components of lease expense are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2023 2022 2021 Operating lease costs: ​ ​ ​ ​ Operating lease cost ​ $ 8,311 ​ $ 5,012 ​ $ 5,814 Short-term lease cost (1) ​ 2,044 ​ 1,754 ​ 1,607 Financing lease costs: ​ ​ ​ ​ Interest on lease liabilities ​ 1,189 ​ 767 ​ 491 Amortization of right-of-use assets ​ 5,034 ​ 3,142 ​ 2,822 Total lease cost ​ $ 16,578 ​ $ 10,675 ​ $ 10,734 (1) Includes expenses related to leases with a lease term of more than one month but less than one year. Supplemental cash flow information related to leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2023 ​ 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows for operating leases $ 8,404 ​ $ 4,966 ​ $ 5,666 Operating cash flows for finance leases $ 1,189 ​ $ 767 ​ $ 491 Financing cash flows for finance leases $ 4,791 ​ $ 2,992 ​ $ 3,035 Non-cash activity: ​ ​ ​ ​ ​ ROU assets obtained in exchange for new operating lease liabilities $ 18,081 ​ $ 6,740 ​ $ 1,567 ROU assets obtained in exchange for new financing lease liabilities $ 13,997 ​ $ 9,368 ​ $ 7,318 ​ Maturities of lease liabilities are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases Year ending December 31, ​ ​ ​ ​ ​ ​ 2024 ​ $ 10,942 ​ $ 9,983 2025 ​ 8,203 ​ 8,747 2026 ​ 2,936 ​ 2,874 2027 ​ 2,420 ​ 1,529 2028 ​ 1,390 ​ 752 Thereafter ​ 11,737 ​ 831 Total future minimum lease payments ​ 37,628 ​ 24,716 Less - amount representing interest ​ 11,742 ​ 2,305 Present value of future minimum lease payments ​ 25,886 ​ 22,411 Less - current lease obligations ​ 9,254 ​ 8,665 Long-term lease obligations ​ $ 16,632 ​ $ 13,746 ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transaction
Related Party Transactions	19. Related Party Transaction ​ On March 10, 2023, the United States Navy awarded the Dragados/Hawaiian Dredging/Orion Joint Venture a $2.8 billion contract to complete the construction of a dry dock at Pearl Harbor Naval Shipyard. The Company’s portion of work as a dedicated subcontractor totals $435.4 million. For the year ended December 31, 2023 the Company’s revenue related to the joint venture subcontract was approximately $90.5 million. ​

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events
Subsequent Event	20. Subsequent Events ​ On February 20, 2024, the Company entered into a Land Sale Contract with Brixx Technologies LLC, a Texas limited liability company, who, subject to customary due diligence and closing conditions, has agreed to purchase two parcels of land in Harris County, Texas (approximately 341.3 acres) known as the East and West Jones property, which was previously used by the Company as dredge placement areas. The purchase price is approximately $34 million, and closing is anticipated to occur on or before June 14, 2024. ​ On February 27, 2024, the Company entered into Amendment No. 2 to the Credit Agreement, which lowered the interest rate for the Revolver by 50 basis points to 30-day SOFR plus 5.0% and the Term Loan by 100 basis points to 30-day SOFR plus 7.0%, subject to a SOFR floor of 4.0%. ​

Schedule II - Valuation And Qua

Schedule II - Valuation And Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation And Qualifying Accounts	ORION GROUP HOLDINGS, INC. SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at the Charged to ​ ​ Balance at the ​ ​ Beginning of ​ Revenue, Cost ​ ​ ​ End of Description ​ the Period ​ or Expense ​ Deduction ​ the Period Year ended December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ $ 411 ​ $ — ​ $ 88 ​ $ 323 Deferred tax asset valuation allowance ​ $ 12,493 ​ $ 3,294 ​ $ 344 ​ $ 15,443 Reserve for losses on uncompleted contracts ​ $ 1,473 ​ $ 33 ​ $ 1,472 ​ $ 34 Year ended December 31, 2022 ​ ​ ​ ​ Allowance for credit losses ​ $ 323 ​ $ 322 ​ $ 39 ​ $ 606 Deferred tax asset valuation allowance ​ $ 15,443 ​ $ 2,114 ​ $ — ​ $ 17,557 Reserve for losses on uncompleted contracts ​ $ 34 ​ $ 351 ​ $ 32 ​ $ 353 Year ended December 31, 2023 ​ ​ ​ ​ Allowance for credit losses ​ $ 606 ​ $ (109) ​ $ 136 ​ $ 361 Deferred tax asset valuation allowance ​ $ 17,557 ​ $ 3,238 ​ $ — ​ $ 20,795 Reserve for losses on uncompleted contracts ​ $ 353 ​ $ 547 ​ $ 347 ​ $ 553 ​

Summary of Significant Accoun_2

Summary of Significant Accounting Principles (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements include the accounts of the parent company, Orion Group Holdings, Inc. and its wholly-owned subsidiaries and have been prepared in accordance with U.S. GAAP on the going concern basis of accounting, which assumes the Company will continue to operate as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. All intercompany balances and transactions have been eliminated in consolidation. ​ In connection with preparing consolidated financial statements for each annual and interim reporting period, the Company is required to evaluate whether there are conditions or events, considered in aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. Substantial doubt exists when conditions and events, considered in aggregate, indicate that it is probable that a company will be unable to meet its obligations as they become due within one year after the date that the consolidated financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management’s plans and actions that have not been fully implemented as of the date that the financial statements are issued. When substantial doubt exists, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both: (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued; and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. Generally, to be considered probable of being effectively implemented, the plans must have been approved before the date that the financial statements are issued. The assessment of the liquidity and going concern requires the Company to make estimates of future activity and judgments about whether the Company is compliant with financial covenant calculations under its debt and other agreements and has adequate liquidity to operate. Significant assumptions used in the Company's forecasted model of liquidity include forecasted sales, costs, and capital expenditures and expected timing and proceeds of planned real estate transactions. The Company has sustained operating losses for the years ended December 31, 2023, 2022 and 2021. Also as described in Note 10, the Company had $35.0 million of outstanding indebtedness under its prior credit facility as of December 31, 2022 which was scheduled to mature on July 31, 2023. As of the date of the filing of the Company’s 2022 Form 10-K on March 16, 2023, the Company’s existing cash and cash equivalents were not sufficient to satisfy the Company’s operating cash needs for at least one year after the issuance of the financial statements. These conditions raised substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements were issued. As such, management concluded at the date of the issuance of the financial statements included in the Company’s 2022 Form 10-K that substantial doubt existed as to going concern. At the beginning of 2023, the Company began a process to refinance the outstanding debt. On May 15, 2023, the Company entered into a with which Note 10 Based on an assessment of the completion of the debt refinancing process and the other factors above, management believes that the Company will have adequate liquidity for its operations for at least the next 12 months. Therefore, management’s conclusion is that the conditions that previously raised substantial doubt have been resolved and substantial doubt is no longer raised as to the Company’s ability to continue as a going concern.
Revenue Recognition	Revenue Recognition The Company’s revenue is derived from contracts to provide marine construction, dredging, turnkey concrete services, and other specialty services. The Company’s projects are typically brief in duration, but occasionally, span a period of over one year. The Company determines the appropriate accounting treatment for each contract before work begins and, subject to qualifications discussed in the next paragraph, records contract revenue over time. Performance obligations are promises in a contract to transfer distinct goods or services to the customer and are the unit of account under Topic 606. Each of the Company’s contracts and related change orders typically represent a single performance obligation because the Company provides an integrated service and individual goods and services are not separately identifiable. Revenue is recognized over time because control of the promised goods and services are continuously transferred to the customer over the life of the contract. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using its best estimate of the stand-alone selling price of each distinct good or service. Progress is measured by the percentage of actual contract costs incurred to date to total estimated costs for each contract. This method is used because management considers contract costs incurred to be the best available measure of progress on these contracts. Contract costs include all direct costs, such as material and labor, and those indirect costs incurred that are related to contract performance such as payroll taxes and insurance. General and administrative costs are charged to expense as incurred. Upfront costs, such as costs to mobilize personnel and equipment prior to satisfying a performance obligation are capitalized and amortized over the contract performance period. Changes in job performance, job conditions and estimated profitability, including those arising from final contract settlements, may result in revisions to costs and reported revenue and are recognized in the period in which the revisions are determined. The effect of changes in estimates of contract revenue or contract costs is recognized as an adjustment to recognized revenue on a cumulative catch-up basis to match contract progress with revenue recognition. When the Company anticipates a loss on a contract that is not yet complete, it recognizes the entire loss in the period in which such losses are determined. Revenue is recorded net of any sales taxes collected and paid on behalf of the customer, if applicable. Contract revenue is derived from the original contract price as modified by agreed-upon change orders and estimates of variable consideration related to incentive fees and change orders or claims for which price has not yet been agreed by the customer. The Company estimates variable consideration based on its assessment of the most likely amount to which it expects to be entitled. Variable consideration is included in the estimated recognition of revenue to the extent it is probable that a significant reversal of cumulative recognized revenue will not occur. A determination that the collection of a claim is probable is based upon the Company’s evaluation of its compliance with the terms of the contract and the extent to which the Company performed in accordance therewith but does not guarantee collection in full. Assets and liabilities derived from contracts with customers include the following: ● Accounts Receivable: Trade, net of allowance - Represent amounts billed and currently due from customers and are stated at their estimated net realizable value. ● Accounts Receivable: Retainage - Represent amounts which have not been billed to or paid by customers due to retainage provisions in construction contracts, which amounts generally become payable upon contract completion and acceptance by the customer. ● Contract Assets - Represent revenues recognized in excess of amounts billed, which management believes will be billed and collected within one year of the completion of the contract and are recorded as a current asset, until such amounts are either received or written off. ● Contract Liabilities - Represent billings in excess of revenues recognized and are recorded as a current liability, until the underlying obligation has been performed or discharged.
Classification of Current Assets and Liabilities	Classification of Current Assets and Liabilities The Company includes in current assets and liabilities amounts realizable and payable in the next twelve months.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At times, cash held by financial institutions may exceed federally insured limits. The Company has not historically sustained losses on its cash balances in excess of federally insured limits. Cash equivalents at December 31, 2023 and December 31, 2022 consisted primarily of overnight bank deposits.
Risk Concentrations	Risk Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk principally consist of accounts receivable. A significant portion of the Company’s revenue base depends on its ability to continue to obtain federal, state and local governmental contracts, and indirectly, on the amount of funding available to these agencies for new and current governmental projects. Therefore, a portion of the Company’s operations is dependent upon the level and timing of government funding. Statutory mechanics’ liens provide the Company high priority in the event of lien foreclosures following financial difficulties of private owners, thus minimizing credit risk with private customers.
Accounts Receivable	Accounts Receivable Accounts receivable are stated at the historical carrying value, net of allowances for credit losses. The Company had significant investments in billed and unbilled receivables as of December 31, 2023 and December 31, 2022. Billed receivables represent amounts billed upon the completion of small contracts and progress billings on large contracts in accordance with contract terms and milestone achievements. Unbilled receivables on contracts represent recoverable costs and accrued profits that are not yet capable of being billed under the terms of the applicable contracts. Revenue associated with these billings is recorded net of any sales tax, if applicable. In establishing an allowance for credit losses, the Company evaluates its contract receivables and contract assets and thoroughly reviews historical collection experience, the financial condition of its customers, billing disputes and other factors. The Company writes off potentially uncollectible accounts receivable against the allowance for credit losses if it is determined that the amounts will not be collected or if a settlement with respect to a disputed receivable is reached for an amount that is less than its carrying value. As of December 31, 2023 and December 31, 2022, the Company had recorded an allowance for credit losses of $0.4 million and $0.6 million, respectively. Balances billed to customers but not paid pursuant to retainage provisions in construction contracts generally become payable upon contract completion and acceptance by the owner. Retainage at December 31, 2023 totaled $42.0 million, of which $5.4 million is expected to be collected beyond December 31, 2024. Retainage at December 31, 2022 totaled $50.9 million. From time to time, the Company negotiates change orders and claims with its customers. Unsuccessful negotiations of claims could result in a change to contract revenue that is less than amounts previously recorded, which could result in the recording of a loss in the amount of the shortfall. Successful claims negotiations could result in the recovery of previously recorded losses. Significant losses on receivables could adversely affect the Company’s financial position, results of operations and overall liquidity.
Advertising Costs	Advertising Costs The Company primarily obtains contracts through the open bid process, and therefore advertising costs are not a significant component of expense. Advertising costs are expensed as incurred.
Environmental Costs	Environmental Costs Costs related to environmental remediation are charged to expense. Other environmental costs are also charged to expense unless they increase the value of the property and/or provide future economic benefits, in which event the costs are capitalized. Environmental liabilities, if any, are recognized when the liability is considered probable and the amount can be reasonably estimated. The Company did not recognize any environmental liabilities as of December 31, 2023 or December 31, 2022.
Fair Value Measurements	Fair Value Measurements The Company evaluates and presents certain amounts included in the accompanying consolidated financial statements at “fair value” in accordance with U.S. GAAP, which requires the Company to base its estimates on assumptions that market participants, in an orderly transaction, would use to price an asset or liability, and to establish a hierarchy that prioritizes the information used to determine fair value. Refer to Note 7 The Company generally applies fair value valuation techniques on a non-recurring basis associated with (1) valuing assets and liabilities acquired in connection with business combinations and other transactions; (2) valuing potential impairment loss related to long-lived assets; and (3) valuing potential impairment loss related to goodwill and indefinite-lived intangible assets.
Inventory	Inventory Current inventory consists of parts and small equipment held for use in the ordinary course of business and is valued at the lower of cost (using historical average cost) or net realizable value and is relieved as utilized. Where shipping and handling costs are incurred by the Company, these charges are included in inventory and charged to cost of contract revenue upon use. Non-current inventory consists of spare parts (including engines, cutters and gears) that require special order or long-lead times for manufacture or fabrication, but must be kept on hand to reduce downtime and is valued at the lower of cost (using historical average cost) or net realizable value.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Ordinary maintenance and repairs that do not improve or extend the useful life of the asset are expensed as incurred. Major renewals and betterments of equipment are capitalized and depreciated generally over three When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in results of operations for the respective period. ​ Depreciation is computed using the straight-line method over the estimated useful lives of the related assets for financial statement purposes, as follows: ​ ​ ​ ​ Automobiles and trucks 3 to 10 years Buildings and improvements 10 to 30 years Construction equipment 3 to 10 years Vessels and other equipment 3 to 40 years Office equipment 3 to 5 years ​ The Company generally uses accelerated depreciation methods for tax purposes where beneficial. Dry-docking costs are capitalized and amortized using the straight-line method over a period ranging from three Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment loss is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or the fair value, less the costs to sell, and are no longer depreciated. There were no assets classified as held for sale as of December 31, 2023. There was $0.8 million of assets classified as held for sale as of December 31, 2022 that were included in prepaid expenses and other in the Company’s Consolidated Balance Sheets.
Leases	Leases Management determines if a contract is or contains a lease at inception of the contract or modification of the contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset. Finance and operating lease right-of-use (“ROU”) assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the implicit rate is not determinable in most of the Company’s leases, management uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The expected lease term includes options to extend or terminate the lease when it is reasonably certain the Company will exercise such option. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. The Company’s lease arrangements have lease and non-lease components. Leases with an expected term of 12 months or less are not accounted for on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. See Note 18
Intangible Assets	Intangible Assets Intangible assets that have finite lives were amortized. In addition, the Company evaluated the remaining useful life of intangible assets in each reporting period to determine whether events and circumstances warrant a revision of the remaining period of amortization. Intangible assets that had infinite lives were not amortized, but were subject to impairment testing at least annually or more frequently if events or circumstances indicated that the asset may be impaired. The Company had one infinite-lived intangible asset, a trade name, which it tested for impairment annually on October 31, or whenever events or circumstances indicated that the carrying amount of the trade name may not be recoverable. Impairment was calculated as the excess of the trade name’s carrying value over its fair value. The fair value of the trade name was determined using the relief from royalty method, a variation of the income approach. This method assumes that if a company owns intellectual property, it does not have to “rent” the asset and is, therefore, “relieved” from paying a royalty. Once a supportable royalty rate is determined, the rate is then applied to the projected revenues over the expected remaining life of the intangible assets to estimate the royalty savings. This approach is dependent on a number of factors, including estimates of future growth and trends, royalty rates, discount rates and other variables. This one infinite-lived intangible asset was fully impaired as of December 31, 2023 due to the rebranding of the Company’s concrete segment in the fourth quarter of 2023. See Note 8
Stock-Based Compensation	Stock-Based Compensation The Company recognizes compensation expense for equity awards over the vesting period based on the fair value of these awards at the date of grant. The computed fair value of these awards is recognized as a non-cash cost over the period the employee provides services, which is typically the vesting period of the award. The fair value of restricted stock grants and restricted stock units is equivalent to the fair value of the stock issued on the date of grant and is measured as the closing price of the stock on the date of grant. Compensation expense is recognized only for stock-based payments expected to vest. The Company estimates forfeitures at the date of grant based on historical experience and future expectations. This assessment is updated on a periodic basis. See Note 14
Income Taxes	Income Taxes The Company determines its consolidated income tax provision using the asset and liability method prescribed by U.S. GAAP, which requires the recognition of income tax expense for the amount of taxes payable or refundable for the current period and for deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity’s financial statements or tax returns. The Company must make significant assumptions, judgments and estimates to determine its current provision for income taxes, its deferred tax assets and liabilities, and any valuation allowance to be recorded against any deferred tax asset. The current provision for income tax is based upon the current tax laws and the Company’s interpretation of these laws, as well as the probable outcomes of any tax audits. The value of any net deferred tax asset depends upon estimates of the amount and category of future taxable income reduced by the amount of any tax benefits that the Company does not expect to realize. Actual operating results and the underlying amount and category of income in future years could render current assumptions, judgments and estimates of recoverable net deferred taxes inaccurate, thus impacting the Company’s financial position and results of operations. The Company computes deferred income taxes using the liability method. Under the liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, Income Taxes ​ See Note 12
Insurance Coverage	Insurance Coverage The Company maintains insurance coverage for its business and operations. Insurance related to property, equipment, automobile, general liability, and a portion of workers’ compensation is provided through traditional policies, subject to a deductible or deductibles. A portion of the Company’s workers’ compensation exposure is covered through a mutual association, which is subject to supplemental calls. The marine segment maintains five levels of excess loss insurance coverage, totaling $300 million in excess of primary coverage. The marine segment’s excess loss coverage responds to most of its policies when a primary limit of $1 million has been exhausted; provided that the primary limit for Contingent Maritime Employer’s Liability is $10 million and the Watercraft Pollution Policy primary limit is $5 million. The concrete segment maintains five levels of excess loss insurance coverage, totaling $300 million in excess of primary coverage. The concrete segment’s excess loss coverage responds to most of its policies when a primary limit of $1 million has been exhausted. If a claim arises and a potential insurance recovery is probable, the impending gain is recognized separately from the related loss. The recovery will only be recognized up to the amount of the loss once the recovery of the claim is deemed probable and any excess gain will fall under contingency accounting and will only be recognized once it is realized. The Company does not net insurance recoveries against the related claim liability as the amount of the claim liability is determined without consideration of the anticipated insurance recoveries from third parties. Separately, the Company’s marine segment employee health care is paid for by general assets of the Company and currently administered by a third party. The administrator has purchased appropriate stop-loss coverage. Losses on these policies up to the deductible amounts are accrued based upon known claims incurred and an estimate of claims incurred but not reported. The accruals are derived from known facts, historical trends and industry averages to determine the best estimate of the ultimate expected loss. Actual claims may vary from estimates. Any adjustments to such reserves are included in the Consolidated Statements of Operations in the period in which they become known. The Company’s concrete segment employee health care is provided through two policies. A fully funded policy is offered primarily to salaried employees and their dependents while a partially self-funded plan with an appropriate stop-loss is offered primarily to hourly employees and their dependents. The self-funded plan is funded to the maximum exposure and, as a result, is expected to receive a partial refund after the policy expiration. The total accrual for insurance claims liabilities was $7.5 million and $5.8 million at December 31, 2023 and December 31, 2022, respectively, reflected as a component of accrued liabilities in the consolidated balance sheet.

Summary of Significant Accoun_3

Summary of Significant Accounting Principles (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of depreciable lives of property, plant and equipment	​ ​ ​ ​ Automobiles and trucks 3 to 10 years Buildings and improvements 10 to 30 years Construction equipment 3 to 10 years Vessels and other equipment 3 to 40 years Office equipment 3 to 5 years

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 2021 Marine Segment ​ ​ ​ Construction ​ $ 297,462 ​ $ 239,656 ​ $ 169,554 Dredging ​ 60,667 ​ 85,414 ​ 80,831 Specialty Services ​ 37,788 ​ 14,143 ​ 13,530 Marine segment contract revenues ​ $ 395,917 ​ $ 339,213 ​ $ 263,915 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Concrete Segment ​ ​ ​ Structural ​ $ 53,827 ​ $ 57,425 ​ $ 58,420 Light Commercial ​ 262,034 ​ 351,684 ​ 279,018 Other ​ — ​ — ​ 7 Concrete segment contract revenues ​ $ 315,861 ​ $ 409,109 ​ $ 337,445 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total contract revenues ​ $ 711,778 ​ $ 748,322 ​ $ 601,360

Concentration of Risk and Ent_2

Concentration of Risk and Enterprise-Wide Disclosures (Tables)	12 Months Ended
	Dec. 31, 2023
Trade and contract retainage receivables
Concentration Risk [Line Items]
Schedules of concentration of risk, by risk factor	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 Federal Government $ 8,885 6 % $ 4,612 3 % State Governments ​ 2,355 2 % 3,111 2 % Local Governments ​ 12,804 9 % 16,197 10 % Private Companies ​ 119,590 83 % 134,317 85 % Gross receivables ​ ​ 143,634 ​ 100 % ​ 158,237 ​ 100 % Allowance for credit losses ​ ​ (361) ​ ​ ​ ​ (606) ​ ​ ​ Net receivables ​ $ 143,273 ​ ​ $ 157,631 ​ ​
Contract revenues
Concentration Risk [Line Items]
Schedules of concentration of risk, by risk factor	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 % 2022 % 2021 % Federal Government $ 153,410 22 % $ 80,116 11 % $ 54,480 9 % State Governments 59,354 8 % 62,516 8 % 4,790 1 % Local Government 99,621 14 % 125,015 17 % 120,311 20 % Private Companies 399,393 56 % 480,675 64 % 421,779 70 % Total contract revenues $ 711,778 100 % $ 748,322 100 % $ 601,360 100 %

Contracts in Progress (Tables)

Contracts in Progress (Tables)	12 Months Ended
	Dec. 31, 2023
Contractors [Abstract]
Schedule of contracts in progress	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Costs incurred on uncompleted contracts ​ $ 1,394,243 ​ $ 1,251,853 Estimated earnings ​ 176,904 ​ 180,705 ​ ​ 1,571,147 ​ 1,432,558 Less: Billings to date ​ (1,553,704) ​ (1,426,375) ​ ​ $ 17,443 ​ $ 6,183 Included in the accompanying Consolidated Balance Sheets under the following captions: ​ ​ Contract assets ​ $ 81,522 ​ $ 43,903 Contract liabilities ​ (64,079) ​ (37,720) ​ ​ $ 17,443 ​ $ 6,183

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Summary of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Automobiles and trucks ​ $ 1,985 ​ $ 2,232 Building and improvements ​ 36,931 ​ 36,952 Construction equipment ​ 125,705 ​ 130,660 Vessels and other equipment ​ 94,030 ​ 91,495 Office equipment ​ 6,708 ​ 6,885 ​ ​ 265,359 ​ 268,224 Less: Accumulated depreciation ​ (206,243) ​ (195,948) Net book value of depreciable assets ​ 59,116 ​ 72,276 Construction in progress ​ 3,770 ​ 816 Land ​ 24,948 ​ 27,885 ​ ​ $ 87,834 ​ $ 100,977

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of fair value, assets and liabilities measured on recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ Carrying Value Level 1 Level 2 Level 3 December 31, 2023 ​ ​ ​ ​ ​ Assets: ​ Cash surrender value of life insurance policy ​ $ 1,299 — 1,299 — December 31, 2022 ​ ​ ​ ​ ​ Assets: ​ Cash surrender value of life insurance policy ​ $ 1,811 — 1,811 —

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible Assets
Schedule of changes and amortization of finite-lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Finite-lived intangible assets, beginning of period ​ $ 35,242 ​ $ 34,242 Additions ​ — ​ — Total finite-lived intangible assets, end of period ​ $ 35,242 ​ $ 35,242 ​ ​ ​ ​ ​ ​ ​ Accumulated amortization, beginning of period ​ $ (34,815) ​ $ (33,576) Current year amortization ​ (427) ​ (1,239) Total accumulated amortization ​ (35,242) ​ (34,815) ​ ​ ​ ​ ​ ​ ​ Net finite-lived intangible assets, end of period ​ $ — ​ ​ 427 Infinite-lived intangible assets ​ ​ — ​ ​ 6,890 Total net intangible assets ​ $ — ​ $ 7,317

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Accrued salaries, wages and benefits ​ $ 19,759 ​ $ 7,605 Accrued liabilities expected to be covered by insurance ​ 7,478 ​ 5,757 Sales taxes ​ 2,510 ​ 1,737 Property taxes ​ 1,111 ​ 522 Sale-leaseback arrangement ​ ​ 3,761 ​ ​ 813 Accounting and audit fees ​ ​ 659 ​ ​ 222 Interest ​ 530 ​ 60 Other accrued expenses ​ 1,266 ​ 1,750 Total accrued liabilities ​ $ 37,074 ​ $ 18,466 ​

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 ​ ​ Debt Issuance ​ ​ Debt Issuance ​ ​ ​ Principal ​ Costs (1) ​ Total ​ Principal ​ Costs (1) ​ Total Revolving line of credit ​ $ — ​ $ — ​ $ — ​ $ 35,000 ​ $ (327) ​ $ 34,673 Term loan - current ​ ​ 15,000 ​ ​ (2,024) ​ ​ 12,976 ​ ​ — ​ ​ — ​ ​ — Other debt ​ ​ 477 ​ ​ — ​ ​ 477 ​ ​ 283 ​ ​ — ​ ​ 283 Total current debt ​ 15,477 ​ (2,024) ​ 13,453 ​ 35,283 ​ (327) ​ 34,956 Term loan - long-term ​ 23,000 ​ (3,104) ​ 19,896 ​ — ​ — ​ — Other debt ​ ​ 3,844 ​ ​ — ​ ​ 3,844 ​ ​ 716 ​ ​ — ​ ​ 716 Total long-term debt ​ ​ 26,844 ​ ​ (3,104) ​ ​ 23,740 ​ ​ 716 ​ ​ — ​ ​ 716 Total debt ​ $ 42,321 ​ $ (5,128) ​ $ 37,193 ​ $ 35,999 ​ $ (327) ​ $ 35,672 (1) Total debt issuance costs include underwriter fees, legal fees, syndication fees and fees related to the execution of the Credit Agreement and the termination and repayment of the Company’s prior credit facility.

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Schedule of other long-term liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Sale-leaseback arrangement ​ $ 23,689 ​ $ 15,156 Deferred compensation ​ 1,293 ​ 1,639 Accrued liabilities expected to be covered by insurance ​ ​ 338 ​ 277 Total other long-term liabilities ​ $ 25,320 ​ $ 17,072

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of components of income tax (benefit) expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Deferred Total Year ended December 31, 2023 ​ ​ ​ U.S. Federal ​ $ 27 ​ $ — ​ $ 27 State and local ​ 415 ​ $ (79) ​ ​ 336 Foreign ​ (8) ​ (25) ​ (33) ​ ​ $ 434 ​ $ (104) ​ $ 330 Year ended December 31, 2022 ​ ​ ​ U.S. Federal ​ $ — ​ $ — ​ $ — State and local ​ 449 ​ $ (29) ​ ​ 420 Foreign ​ (34) ​ 43 ​ 9 ​ ​ $ 415 ​ $ 14 ​ $ 429 Year ended December 31, 2021 ​ ​ ​ U.S. Federal ​ $ — ​ $ — ​ $ — State and local ​ 243 ​ ​ (20) ​ ​ 223 Foreign ​ 268 ​ 11 ​ 279 ​ ​ $ 511 ​ $ (9) ​ $ 502
Schedule of effective income tax reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Statutory amount ​ $ (3,685) ​ $ (2,558) ​ $ (2,952) ​ Valuation allowance on foreign tax credits ​ (438) ​ (136) ​ 186 ​ State income tax, net of federal benefit ​ 69 ​ 251 ​ 44 ​ Permanent differences, other ​ 749 ​ 185 ​ 303 ​ Permanent differences, stock compensation ​ (40) ​ 217 ​ (262) ​ Valuation allowance, other ​ 3,675 ​ 2,251 ​ 3,108 ​ Other ​ — ​ 219 ​ 75 ​ Consolidated income tax provision ​ $ 330 ​ $ 429 ​ $ 502 ​ Consolidated effective tax rate ​ (1.9) % (3.5) % (3.6) %
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long Term ​ ​ As of December 31, ​ 2023 2022 Assets related to: ​ ​ Accrued liabilities ​ $ 1,581 ​ $ 1,320 Intangible assets ​ 3,226 ​ 2,161 Net operating loss carryforward ​ 14,594 ​ 16,699 Stock-based compensation ​ 221 ​ 276 Foreign tax credits ​ 3,394 ​ 3,831 Goodwill ​ 3,534 ​ 4,328 Leases ​ ​ 16,146 ​ ​ 9,018 Other ​ 2,656 ​ 2,301 Total gross deferred tax assets ​ 45,352 ​ 39,934 Less valuation allowance ​ ​ (20,795) ​ ​ (17,557) Total net deferred tax assets ​ ​ 24,557 ​ ​ 22,377 Liabilities related to: ​ ​ ​ Depreciation and amortization ​ (23,116) ​ (22,362) Other ​ (1,479) ​ (156) Total deferred tax liabilities ​ (24,595) ​ (22,518) Net deferred tax liabilities ​ $ (38) ​ $ (141)
Schedule of Unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Balance at beginning of the year ​ $ 1,614 ​ $ 1,614 Additions based on tax position related to current year ​ — ​ — Additions based on tax positions related to prior years ​ — ​ — Reductions based on tax positions related to current year ​ — ​ — Reductions based on tax positions related to prior years ​ — ​ — Settlements with tax authorities ​ — ​ — Lapse of statute of limitations ​ — ​ — Balance at end of the year ​ $ 1,614 ​ $ 1,614

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 2021 Basic: Weighted average shares outstanding 32,346,992 31,402,328 30,763,527 Diluted: Total basic weighted average shares outstanding 32,346,992 31,402,328 30,763,527 Effect of potentially dilutive securities: Common stock options — — — Total weighted average shares outstanding assuming dilution 32,346,992 31,402,328 30,763,527 ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of restricted stock activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number ​ Average ​ ​ of ​ Fair Value ​ ​ Shares ​ Per Share Nonvested at January 1, 2021 950,436 ​ $ 3.04 Granted 916,531 ​ $ 4.58 Vested (690,676) ​ $ 3.43 Forfeited shares (234,232) ​ $ 4.22 Nonvested at December 31, 2021 942,059 ​ $ 3.97 Granted 1,603,434 ​ $ 2.73 Vested (806,241) ​ $ 2.90 Forfeited shares (382,480) ​ $ 4.60 Nonvested at December 31, 2022 1,356,772 ​ $ 2.96 Granted 1,031,853 ​ $ 2.42 Vested (782,949) ​ $ 2.83 Forfeited shares (390,886) ​ $ 3.12 Nonvested at December 31, 2023 1,214,790 ​ $ 2.53
Schedule of stock options activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Weighted ​ ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number ​ Exercise ​ Contractual ​ Aggregate ​ ​ of ​ Price ​ Life ​ Intrinsic ​ ​ Shares ​ Per Share ​ (Years) ​ Value Outstanding at January 1, 2021 922,615 ​ $ 7.10 ​ Exercised ​ (28,546) ​ $ 3.86 ​ ​ ​ ​ ​ Forfeited (169,365) ​ $ 6.32 ​ Outstanding at December 31, 2021 724,704 ​ $ 7.41 ​ Forfeited (421,375) ​ $ 7.49 ​ Outstanding at December 31, 2022 303,329 ​ $ 7.29 ​ Forfeited (70,465) ​ $ 7.74 ​ Outstanding at December 31, 2023 232,864 ​ $ 7.15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest at December 31, 2023 232,864 ​ $ 7.15 3.07 ​ $ — Exercisable at December 31, 2023 232,864 ​ $ 7.15 3.07 ​ $ —
Schedule of intrinsic value of options exercised and fair value of shares vested	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 Total intrinsic value of options exercised ​ $ — ​ $ — ​ $ 50 Total fair value of shares vested ​ $ 2,407 ​ $ — ​ $ 93 ​

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of multi-employer plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Protection ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expiration ​ ​ ​ ​ Act ("PPA") ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ of ​ ​ Employer ​ Certified Zone Status ​ FIP/RP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collective ​ ​ Identification ​ (1) ​ Status ​ Contributions ​ Surcharge ​ Bargaining Pension Trust Fund ​ Number ​ 2023 ​ 2022 ​ P/I (2) ​ 2023 ​ 2022 ​ 2021 ​ Imposed ​ Agreement International Union of Operating Engineers - Employers Construction Industry Retirement Plan - Local 302 and 612 Trust Funds 91-6028571 Green Green N/A $ 1,340 $ 1,289 $ 1,297 — 2024 Washington Laborers ​ 91-6022315 ​ Green ​ Green ​ N/A ​ $ 137 ​ $ 106 ​ $ 244 ​ — ​ 2024 Carpenters Retirement Plan of Western Washington 91-6029051 Green Green N/A ​ $ 1,906 ​ $ 1,717 ​ $ 1,700 — 2024 Cement Masons & Plasterers Trust Funds ​ 91-6066773 ​ N/A ​ N/A ​ N/A ​ $ — ​ $ — ​ $ 32 ​ — ​ N/A Western Conference of Teamsters Pension Trust Fund ​ 91-6145047 ​ Green ​ Green ​ N/A ​ $ 46 ​ $ 44 ​ $ 44 ​ — ​ 2024 Hawaii Operating Engineers Local 3 Trust Funds ​ 81-3751949 ​ Green ​ Green ​ N/A ​ $ 121 ​ $ — ​ $ — ​ — ​ 2024 Hawaii Regional Council of Carpenters ​ 45-3998630 ​ Green ​ Green ​ N/A ​ $ 128 ​ $ — ​ $ — ​ — ​ 2024 (1) The most recent PPA zone status available in 2023 and 2022 is for the plan’s year end during 2022 and 2021, respectively. Zone status is based on information received from the plan and is indicative of the plans funding status. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the orange zone are less than 80 percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next six years, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. (2) The FIP/RP Status P/I column indicates plans for which a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending (“P”), or implemented (“I”).

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of segment reporting	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 ​ 2022 ​ 2021 Marine ​ ​ ​ ​ ​ ​ ​ ​ Contract revenues ​ $ 395,917 ​ $ 339,213 ​ $ 263,915 Operating income ​ 3,670 ​ 9,787 ​ 5,760 Depreciation and amortization expense ​ (18,219) ​ (16,592) ​ (17,287) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 318,684 ​ $ 239,369 ​ ​ ​ Property and equipment, net ​ 82,215 ​ 91,390 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Concrete ​ ​ ​ Contract revenues ​ $ 315,861 ​ $ 409,109 ​ $ 337,445 Operating loss ​ (10,300) ​ (17,817) ​ (15,077) Depreciation and amortization expense ​ (5,659) ​ (7,465) ​ (8,143) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 98,209 ​ $ 127,786 ​ ​ ​ Property and equipment, net ​ 5,619 ​ 9,587 ​ ​ ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of leases recorded on the balance sheet	​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, Leases ​ 2023 2022 Assets ​ ​ ​ ​ ​ Operating lease right-of-use assets, net (1) ​ $ 25,696 $ 14,978 Financing lease right-of-use assets, net (2) ​ 23,602 15,839 Total assets ​ $ 49,298 $ 30,817 Liabilities ​ Current ​ Operating ​ $ 9,254 $ 4,738 Financing ​ 8,665 4,031 Total current ​ 17,919 8,769 Noncurrent ​ Operating ​ 16,632 11,018 Financing ​ 13,746 11,102 Total noncurrent ​ 30,378 22,120 Total liabilities ​ $ 48,297 $ 30,889 (1) Operating lease right-of-use assets are recorded net of accumulated amortization of $15.6 million and $10.5 million as of December 31, 2023 and 2022, respectively. (2) Financing lease right-of-use assets are recorded net of accumulated amortization of $10.2 million and $5.1 million as of December 31, 2023 and 2022, respectively.
Schedule of information related to lease terms and discount rates	​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 Weighted Average Remaining Lease Term (in years) ​ ​ Operating leases 5.90 ​ 3.90 ​ Financing leases 2.83 ​ 4.36 ​ Weighted Average Discount Rate ​ ​ ​ ​ Operating leases 9.32 % 4.86 % Financing leases 7.53 % 5.62 %
Schedule of components of lease expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2023 2022 2021 Operating lease costs: ​ ​ ​ ​ Operating lease cost ​ $ 8,311 ​ $ 5,012 ​ $ 5,814 Short-term lease cost (1) ​ 2,044 ​ 1,754 ​ 1,607 Financing lease costs: ​ ​ ​ ​ Interest on lease liabilities ​ 1,189 ​ 767 ​ 491 Amortization of right-of-use assets ​ 5,034 ​ 3,142 ​ 2,822 Total lease cost ​ $ 16,578 ​ $ 10,675 ​ $ 10,734 (1) Includes expenses related to leases with a lease term of more than one month but less than one year.
Schedule of supplemental cash flow information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2023 ​ 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows for operating leases $ 8,404 ​ $ 4,966 ​ $ 5,666 Operating cash flows for finance leases $ 1,189 ​ $ 767 ​ $ 491 Financing cash flows for finance leases $ 4,791 ​ $ 2,992 ​ $ 3,035 Non-cash activity: ​ ​ ​ ​ ​ ROU assets obtained in exchange for new operating lease liabilities $ 18,081 ​ $ 6,740 ​ $ 1,567 ROU assets obtained in exchange for new financing lease liabilities $ 13,997 ​ $ 9,368 ​ $ 7,318
Schedule of operating lease maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases Year ending December 31, ​ ​ ​ ​ ​ ​ 2024 ​ $ 10,942 ​ $ 9,983 2025 ​ 8,203 ​ 8,747 2026 ​ 2,936 ​ 2,874 2027 ​ 2,420 ​ 1,529 2028 ​ 1,390 ​ 752 Thereafter ​ 11,737 ​ 831 Total future minimum lease payments ​ 37,628 ​ 24,716 Less - amount representing interest ​ 11,742 ​ 2,305 Present value of future minimum lease payments ​ 25,886 ​ 22,411 Less - current lease obligations ​ 9,254 ​ 8,665 Long-term lease obligations ​ $ 16,632 ​ $ 13,746 ​
Schedule of finance lease maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases Year ending December 31, ​ ​ ​ ​ ​ ​ 2024 ​ $ 10,942 ​ $ 9,983 2025 ​ 8,203 ​ 8,747 2026 ​ 2,936 ​ 2,874 2027 ​ 2,420 ​ 1,529 2028 ​ 1,390 ​ 752 Thereafter ​ 11,737 ​ 831 Total future minimum lease payments ​ 37,628 ​ 24,716 Less - amount representing interest ​ 11,742 ​ 2,305 Present value of future minimum lease payments ​ 25,886 ​ 22,411 Less - current lease obligations ​ 9,254 ​ 8,665 Long-term lease obligations ​ $ 16,632 ​ $ 13,746 ​

Description of Business and B_2

Description of Business and Basis of Presentation (Details) $ in Millions		12 Months Ended
	May 15, 2023 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 segment
Number of operating segments | segment		2	2	2
Number of reportable segments | segment		2	2	2
Revolving Credit Facility
Principal amount			$ 35
Revolver
Line of credit facility, maximum borrowing capacity		$ 65
White Oak | Credit Agreement
Credit facility term	3 years
Line of credit facility, maximum borrowing capacity	$ 103
White Oak | Revolver
Line of credit facility, maximum borrowing capacity	65
White Oak | Term Loan
Line of credit facility, maximum borrowing capacity	$ 38

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Restricted Cash and Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable [Abstract]
Allowance for credit losses	$ 400	$ 600
Retainage	42,044	$ 50,873
Retainage, long-term	$ 5,400

Summary of Significant Accoun_5

Summary of Significant Accounting Principles - Property and Equipment (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) Asset	Dec. 31, 2023 USD ($)
Property, Plant and Equipment
Assets classified as held-for-sale | $	$ 0.8	$ 0
Infinite-lived intangible assets
Number of infinite-lived intangible assets | Asset	1
Equipment improvement | Minimum
Property, Plant and Equipment
Property and equipment useful life		3 years
Equipment improvement | Maximum
Property, Plant and Equipment
Property and equipment useful life		10 years
Automobiles and trucks | Minimum
Property, Plant and Equipment
Property and equipment useful life		3 years
Automobiles and trucks | Maximum
Property, Plant and Equipment
Property and equipment useful life		10 years
Building and improvements | Minimum
Property, Plant and Equipment
Property and equipment useful life		10 years
Building and improvements | Maximum
Property, Plant and Equipment
Property and equipment useful life		30 years
Construction equipment | Minimum
Property, Plant and Equipment
Property and equipment useful life		3 years
Construction equipment | Maximum
Property, Plant and Equipment
Property and equipment useful life		10 years
Vessels and other equipment | Minimum
Property, Plant and Equipment
Property and equipment useful life		3 years
Vessels and other equipment | Maximum
Property, Plant and Equipment
Property and equipment useful life		40 years
Office equipment | Minimum
Property, Plant and Equipment
Property and equipment useful life		3 years
Office equipment | Maximum
Property, Plant and Equipment
Property and equipment useful life		5 years
Dry-docking capitalized costs | Minimum
Property, Plant and Equipment
Property and equipment useful life		3 years
Dry-docking capitalized costs | Maximum
Property, Plant and Equipment
Property and equipment useful life		7 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Insurance Coverage (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) item policy	Dec. 31, 2022 USD ($)
Insurance Coverage
Accrued insurance claims liability	$ 7.5	$ 5.8
Marine Segment
Insurance Coverage
Levels of insurance coverage maintained by the Company | item	5
Amount in excess of primary insurance coverage	$ 300
Marine Segment | Other liability policies
Insurance Coverage
Primary limit of insurance coverage	1
Marine Segment | Maritime employer's liability
Insurance Coverage
Primary limit of insurance coverage	10
Marine Segment | Watercraft pollution policy
Insurance Coverage
Primary limit of insurance coverage	$ 5
Concrete Segment
Insurance Coverage
Levels of insurance coverage maintained by the Company | item	5
Amount in excess of primary insurance coverage	$ 300
Number of employee health care insurance policies | policy	2
Concrete Segment | Other liability policies
Insurance Coverage
Primary limit of insurance coverage	$ 1

Revenue (Details)

Revenue (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($) segment
Disaggregation of Revenue [Line Items]
Contract revenues	$ 711,778	$ 748,322	$ 601,360
Number of reportable segments | segment	2	2	2
Marine Segment
Disaggregation of Revenue [Line Items]
Contract revenues	$ 395,917	$ 339,213	$ 263,915
Marine Segment | Construction
Disaggregation of Revenue [Line Items]
Contract revenues	297,462	239,656	169,554
Marine Segment | Dredging
Disaggregation of Revenue [Line Items]
Contract revenues	60,667	85,414	80,831
Marine Segment | Specialty Services
Disaggregation of Revenue [Line Items]
Contract revenues	37,788	14,143	13,530
Concrete Segment
Disaggregation of Revenue [Line Items]
Contract revenues	315,861	409,109	337,445
Concrete Segment | Structural
Disaggregation of Revenue [Line Items]
Contract revenues	53,827	57,425	58,420
Concrete Segment | Light Commercial
Disaggregation of Revenue [Line Items]
Contract revenues	$ 262,034	$ 351,684	279,018
Concrete Segment | Other
Disaggregation of Revenue [Line Items]
Contract revenues			$ 7

Concentration of Risk and Ent_3

Concentration of Risk and Enterprise-Wide Disclosures (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) customer	Dec. 31, 2022 USD ($) customer	Dec. 31, 2021 USD ($) customer
Concentration Risk [Line Items]
Allowance for credit losses	$ (361)	$ (606)
Contract revenues	$ 711,778	$ 748,322	$ 601,360
Foreign
Concentration Risk [Line Items]
Contract revenues, percent	5.10%	0.90%	0.50%
Customer concentration risk | Trade and contract retainage receivables
Concentration Risk [Line Items]
Gross receivables	$ 143,634	$ 158,237
Allowance for credit losses	(361)	(606)
Net receivables	$ 143,273	$ 157,631
Number of customers exceeding the 10% benchmark percentage | customer		0
Concentration risk, percentage	100%	100%
Customer concentration risk | Contract revenues
Concentration Risk [Line Items]
Number of customers exceeding the 10% benchmark percentage | customer		0	0
Contract revenues	$ 711,778	$ 748,322	$ 601,360
Concentration risk, percentage	100%	100%	100%
Customer concentration risk | Federal Government | Trade and contract retainage receivables
Concentration Risk [Line Items]
Gross receivables	$ 8,885	$ 4,612
Concentration risk, percentage	6%	3%
Customer concentration risk | Federal Government | Contract revenues
Concentration Risk [Line Items]
Number of customers exceeding the 10% benchmark percentage | customer	1
Contract revenues	$ 153,410	$ 80,116	$ 54,480
Concentration risk, percentage	22%	11%	9%
Customer concentration risk | Federal Government | Contract revenues | Customer One
Concentration Risk [Line Items]
Contract revenues, percent	12.70%
Customer concentration risk | State Governments | Trade and contract retainage receivables
Concentration Risk [Line Items]
Gross receivables	$ 2,355	$ 3,111
Concentration risk, percentage	2%	2%
Customer concentration risk | State Governments | Contract revenues
Concentration Risk [Line Items]
Contract revenues	$ 59,354	$ 62,516	$ 4,790
Concentration risk, percentage	8%	8%	1%
Customer concentration risk | Local Governments | Trade and contract retainage receivables
Concentration Risk [Line Items]
Gross receivables	$ 12,804	$ 16,197
Concentration risk, percentage	9%	10%
Customer concentration risk | Local Governments | Contract revenues
Concentration Risk [Line Items]
Contract revenues	$ 99,621	$ 125,015	$ 120,311
Concentration risk, percentage	14%	17%	20%
Customer concentration risk | Private Companies | Trade and contract retainage receivables
Concentration Risk [Line Items]
Gross receivables	$ 119,590	$ 134,317
Number of customers exceeding the 10% benchmark percentage | customer	1
Concentration risk, percentage	83%	85%
Customer concentration risk | Private Companies | Trade and contract retainage receivables | Customer One
Concentration Risk [Line Items]
Contract revenues, percent	19.90%
Customer concentration risk | Private Companies | Contract revenues
Concentration Risk [Line Items]
Contract revenues	$ 399,393	$ 480,675	$ 421,779
Concentration risk, percentage	56%	64%	70%

Contracts in Progress (Details)

Contracts in Progress (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Contractors [Abstract]
Costs incurred on uncompleted contracts	$ 1,394,243	$ 1,251,853
Estimated earnings	176,904	180,705
Costs incurred and estimated earnings on uncompleted contracts	1,571,147	1,432,558
Less: Billings to date	(1,553,704)	(1,426,375)
Costs and estimated earnings in excess of billings on uncompleted contracts, net	17,443	6,183
Contract assets	81,522	43,903
Contract liabilities	$ (64,079)	$ (37,720)

Contracts in Progress - Additio

Contracts in Progress - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Costs And Estimated Earnings In Excess Of Billings On Uncompleted Contracts
Unbilled contract claims and change orders
Claims and unapproved change orders	$ 13	$ 13.4

Contracts in Progress - Remaini

Contracts in Progress - Remaining Performance Obligation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Performance obligations expected to be satisfied	$ 762.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Performance obligations expected to be satisfied	$ 650.4
Performance obligations expected to be satisfied, percentage	85%
Performance obligations expected to be satisfied, expected timing	12 months

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment
Property, plant and equipment, gross	$ 265,359	$ 268,224
Less: accumulated depreciation	(206,243)	(195,948)
Property, plant and equipment net book value of depreciable assets	59,116	72,276
Property and equipment, net of depreciation	87,834	100,977
Automobiles and trucks
Property, Plant and Equipment
Property, plant and equipment, gross	1,985	2,232
Building and improvements
Property, Plant and Equipment
Property, plant and equipment, gross	36,931	36,952
Construction equipment
Property, Plant and Equipment
Property, plant and equipment, gross	125,705	130,660
Vessels and other equipment
Property, Plant and Equipment
Property, plant and equipment, gross	94,030	91,495
Office equipment
Property, Plant and Equipment
Property, plant and equipment, gross	6,708	6,885
Construction in progress
Property, Plant and Equipment
Property, plant and equipment, gross	3,770	816
Land
Property, Plant and Equipment
Property, plant and equipment, gross	$ 24,948	$ 27,885

Property and Equipment Narrativ

Property and Equipment Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 18.4	$ 19.7

Fair Value - Schedule of Fair V

Fair Value - Schedule of Fair Value Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash surrender value of life insurance	$ 1,299	$ 1,811
Fair Value Measurement | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash surrender value of life insurance	$ 1,299	$ 1,811

Fair Value - Other Fair Value M

Fair Value - Other Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Concrete Segment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Life Insurance, face amount	$ 11.1
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	$ 42.3	$ 35.7

Intangible Assets - Finite-live

Intangible Assets - Finite-lived Intangible Assets Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-lived Intangible Assets
Finite-lived intangible assets, beginning of period	$ 35,242	$ 34,242
Additions	0
Total finite-lived intangible assets, end of period	35,242	35,242	$ 34,242
Accumulated Amortization
Accumulated amortization, beginning of period	(34,815)	(33,576)
Current year amortization	(427)	(1,239)	(1,521)
Total accumulated amortization	(35,242)	(34,815)	$ (33,576)
Net intangible assets
Net finite-lived intangible assets, end of period	0	427
Infinite-lived intangible assets	0	6,890
Total net intangible assets	$ 0	$ 7,317

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2017
Business Acquisition [Line Items]
Amortization expense	$ 427	$ 1,239	$ 1,521
Impairment of infinite-lived assets	6,890
Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangibles acquired				$ 18,800
Acquired finite-lived intangible assets, useful life				8 years
Amortization expense	400	$ 1,200
TAS Commercial Concrete | Trade Names
Business Acquisition [Line Items]
Impairment of infinite-lived assets	$ 6,900

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued salaries, wages and benefits	$ 19,759	$ 7,605
Accrued liabilities expected to be covered by insurance	7,478	5,757
Sales taxes	2,510	1,737
Property taxes	1,111	522
Sale-leaseback arrangement	3,761	813
Accounting and audit fees	659	222
Interest	530	60
Other accrued expenses	1,266	1,750
Total accrued liabilities	$ 37,074	$ 18,466

Debt - Obligations under Debt A

Debt - Obligations under Debt Arrangements (Details) - USD ($) $ in Thousands			12 Months Ended
	Dec. 01, 2023	May 15, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt instruments
Repayments of Debt			$ 104,431	$ 28,274	$ 49,120
Principal current			15,477	35,283
Principal, long-term			26,844	716
Principal			42,321	35,999
Debt Issuance Costs, current			(2,024)	(327)
Debt Issuance Costs, long-term			(3,104)
Debt Issuance Costs, Net, Total			(5,128)	(327)
Net Value, current			13,453	34,956
Net Value, long-term			23,740	716
Total debt			37,193	35,672
Other Debt
Debt instruments
Principal current			477	283
Principal, long-term			3,844	716
Net Value, current			477	283
Net Value, long-term			$ 3,844	716
Credit Agreement
Debt instruments
Debt issuance cost		$ 5,900
Weighted average interest rate			12%
Credit Agreement | Credit Agreement Amendment One
Debt instruments
Mandatory loan prepayment	$ 15,000
The number of days after the sale of the East West Jones Placement Area at which time the mandatory loan prepayment is due	3 days
Revolver
Debt instruments
Repayments of Debt			$ 64,000
Term Loan
Debt instruments
Principal current			15,000
Principal, long-term			23,000
Debt Issuance Costs, current			(2,024)
Debt Issuance Costs, long-term			(3,104)
Net Value, current			12,976
Net Value, long-term			$ 19,896
Revolving Credit Facility
Debt instruments
Principal amount				35,000
Repayments of Debt		40,000
Charge-off of unamortized debt issuance costs due to early extinguishment of debt		$ 100
Revolving Credit Facility | Line of Credit
Debt instruments
Principal current				35,000
Debt Issuance Costs, current				(327)
Net Value, current				$ 34,673
30-day SOFR | Revolver
Debt instruments
Basis spread on variable rate		5.50%
30-day SOFR | Term Loan
Debt instruments
Basis spread on variable rate		8%
Interest rate floor		4%

Debt - Provisions of Revolving

Debt - Provisions of Revolving Line of Credit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt instruments
Repayments of debt	$ 104,431	$ 28,274	$ 49,120
Proceeds from lines of credit	106,958	$ 24,000	$ 53,000
Revolver
Debt instruments
Line of credit facility, maximum borrowing capacity	65,000
Amount outstanding	0
Remaining borrowing capacity	47,700
Repayments of debt	64,000
Proceeds from lines of credit	64,000
Letter of Credit
Debt instruments
Line of credit facility, maximum borrowing capacity	$ 5,000

Debt - Financial covenants (Det

Debt - Financial covenants (Details) - Credit Agreement		9 Months Ended	12 Months Ended
	May 15, 2023 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)
Minimum
Debt covenants
Consolidated fixed charge coverage ratio	1.10
Revolver loan turnover ratio	2.50
Liquidity value	$ 15,000,000
Maximum
Debt covenants
Term loan loan-to-value ratio	60%
Debt Covenant, EBITDA Test Period Target | Minimum
Debt covenants
Minimum EBITDA requirement		$ 14,975,675	$ 29,703,993

Debt - Other Debt (Details)

Debt - Other Debt (Details) - USD ($) $ in Thousands	Jun. 23, 2023	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal		$ 42,321	$ 35,999
Equipment financing | Other Debt
Debt Instrument [Line Items]
Principal		1,900	$ 1,000
Land Sale Leaseback Contract | Port Lavaca South Yard property
Debt Instrument [Line Items]
Sale price	$ 12,000
Land Sale Leaseback Contract | Other Debt
Debt Instrument [Line Items]
Principal		$ 2,400

Other Long-Term Liabilities - C

Other Long-Term Liabilities - Components (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other long-term liabilities
Sale-leaseback arrangement	$ 23,689	$ 15,156
Deferred compensation	1,293	1,639
Accrued liabilities expected to be covered by insurance	338	277
Total other long-term liabilities	$ 25,320	$ 17,072

Other Long-Term Liabilities - S

Other Long-Term Liabilities - Sale-Leaseback (Details) $ in Millions	Jun. 23, 2023 USD ($) Options	May 15, 2023 USD ($)	Sep. 27, 2019 USD ($) Options
Equipment Sale Leaseback
Failed Sale Leaseback
Sale price		$ 13
Equipment Sale Leaseback | Minimum
Failed Sale Leaseback
Lease term		1 year
Equipment Sale Leaseback | Maximum
Failed Sale Leaseback
Lease term		3 years
Port Lavaca South Yard Property Sale Leaseback
Failed Sale Leaseback
Lease term	20 years
Annual rent	$ 1.1
Annual percentage rent increase	2.50%
Number of consecutive options to extend term | Options	4
Term of available options	5 years
17300 and 17140 Market Street Locations, Channelview, Texas Sale Leaseback
Failed Sale Leaseback
Sale price			$ 19.1
Lease term			15 years
Annual rent			$ 1.5
Annual percentage rent increase			2%
Number of consecutive options to extend term | Options			2
Term of available options			10 years

Income Tax - Components of Inco

Income Tax - Components of Income Tax (Benefit) Expense by Jurisdiction and by Classification (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. Federal
Current	$ 27
Total	27
State and local
Current	415	$ 449	$ 243
Deferred	(79)	(29)	(20)
Total	336	420	223
Foreign
Current	(8)	(34)	268
Deferred	(25)	43	11
Total	(33)	9	279
Total Income Taxes
Current	434	415	511
Deferred	(104)	14	(9)
Total Tax	$ 330	$ 429	$ 502

Income Tax - Income Tax Expense

Income Tax - Income Tax Expense Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory amount	$ (3,685)	$ (2,558)	$ (2,952)
Valuation allowance on foreign tax credits	(438)	(136)	186
State income tax, net of federal benefit	69	251	44
Permanent differences, other	749	185	303
Permanent differences, stock compensation	(40)	217	(262)
Valuation allowance, other	3,675	2,251	3,108
Other		219	75
Total Tax	$ 330	$ 429	$ 502
Effective income tax rate	(1.90%)	(3.50%)	(3.60%)
Federal statutory tax rate	21%	21%	21%

Income Tax - Components of Defe

Income Tax - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets related to:
Accrued liabilities	$ 1,581	$ 1,320
Intangible assets	3,226	2,161
Net operating loss carryforward	14,594	16,699
Stock-based compensation	221	276
Foreign tax credits	3,394	3,831
Goodwill	3,534	4,328
Leases	16,146	9,018
Other	2,656	2,301
Total gross deferred tax assets	45,352	39,934
Less valuation allowance	(20,795)	(17,557)
Total net deferred tax assets	24,557	22,377
Liabilities related to:
Depreciation and amortization	(23,116)	(22,362)
Other	(1,479)	(156)
Total deferred tax liabilities	(24,595)	(22,518)
Net deferred tax liabilities	$ (38)	$ (141)

Income Tax - Net Operating Loss

Income Tax - Net Operating Loss Carryforwards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating loss carryforwards
Valuation allowance	$ 20,795	$ 17,557
Change in valuation allowance	3,200
Foreign tax credits	$ 3,394	$ 3,831
Percentage of taxable income	80%
Period of foreign tax credit carryforwards	10 years
Federal
Operating loss carryforwards
Net operating loss carryforwards	$ 41,700
State
Operating loss carryforwards
Net operating loss carryforwards	$ 128,500

Income Tax - Unrecognized Tax B

Income Tax - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balances at beginning of the year	$ 1,614	$ 1,614
Additions based on tax position related to current year
Balance at end of the year	1,614	1,614
Accrued interest and penalties on unrecognized tax benefits	$ 0	$ 0

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Potential antidilutive securities excluded from computations of earnings per share	250,264	490,678	831,077

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic:
Weighted average shares outstanding, basic	32,346,992	31,402,328	30,763,527
Effect of dilutive securities:
Common stock options	0	0	0
Total weighted average shares outstanding assuming dilution	32,346,992	31,402,328	30,763,527

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	1 Months Ended															2 Months Ended	12 Months Ended
	Nov. 30, 2023 $ / shares shares	Oct. 31, 2023 $ / shares shares	Jul. 31, 2023 $ / shares shares	May 31, 2023 director $ / shares shares	Mar. 31, 2023 item $ / shares shares	Jan. 31, 2023 $ / shares shares	Nov. 30, 2022 $ / shares shares	Sep. 30, 2022 $ / shares shares	Aug. 31, 2022 $ / shares shares	May 31, 2022 director $ / shares shares	Jan. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Sep. 30, 2021 $ / shares shares	Aug. 31, 2021 $ / shares shares	May 31, 2021 director $ / shares shares	Sep. 30, 2022 item shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Share-based Compensation
Compensation expense related to stock based awards outstanding | $																	$ 2,000	$ 2,800	$ 2,400
Payments related to tax withholding for stock-based compensation | $																	492	440	949
Proceeds received upon exercise of stock options | $																			$ 110
Exercise of stock options, shares																			28,546
Total share-based compensation cost not yet recognized | $																	$ 3,200
Share-based compensation cost not yet recognized, period for recognition																	2 years 2 months 12 days
Total intrinsic value of options exercised | $																			$ 50
Total fair value of shares vested | $																	$ 2,407		93
Certain Officers
Share-based Compensation
Payments related to tax withholding for stock-based compensation | $																	$ 500	$ 400	900
Employee Stock Option [Member]
Share-based Compensation
Forfeiture rate applied to awards																	5.50%
Proceeds received upon exercise of stock options | $																			$ 100
Exercise of stock options, shares																	0	0	28,546
Restricted stock and performance units | Certain Executives
Share-based Compensation
Grant date fair value (in dollars per share) | $ / shares	$ 4.87							$ 2.75	$ 2.69
Restricted stock
Share-based Compensation
Awards granted in period (in shares)																	1,031,853	1,603,434	916,531
Grant date fair value (in dollars per share) | $ / shares																	$ 2.42	$ 2.73	$ 4.58
Forfeiture rate applied to awards																	3.20%
Restricted stock | Independent Directors and Executive Chairman, Interim CEO and Interim CFO
Share-based Compensation
Awards granted in period (in shares)										623,655
Grant date fair value (in dollars per share) | $ / shares										$ 2.79
Restricted stock | Independent Directors
Share-based Compensation
Number of independent directors receiving awards | director				7						6					6
Awards granted in period (in shares)				238,637						193,548	8,929		18,215		14,975
Grant date fair value (in dollars per share) | $ / shares				$ 2.64							$ 3.36		$ 5.49		$ 6.01
Restricted stock | Officers And Executives
Share-based Compensation
Vesting period		3 years				3 years						3 years			3 years
Awards granted in period (in shares)		152,000				180,833						139,000			160,000
Grant date fair value (in dollars per share) | $ / shares		$ 4.95				$ 3						$ 3.75			$ 6.01
Restricted stock | Certain Executives
Share-based Compensation
Vesting period	3 years		3 years	3 years				3 years	3 years				3 years
Awards granted in period (in shares)	61,602		12,862	4,000			64,935	130,909	446,097				9,901
Grant date fair value (in dollars per share) | $ / shares			$ 3.11	$ 2.50			$ 2.31
Weighted average grant-date fair value of options granted (in USD per share) | $ / shares													$ 5.05
Time-vested restricted stock units | Executive Chairman, Interim CEO and Interim CFO
Share-based Compensation
Awards granted in period (in shares)										430,107
Time-vested restricted stock units | Vesting when Interim CEO term is fulfilled | Executive Chairman, Interim CEO and Interim CFO
Share-based Compensation
Number of shares vested								179,211
Time-vested restricted stock units | Vesting when Executive Chairman term is fulfilled | Executive Chairman, Interim CEO and Interim CFO
Share-based Compensation
Number of shares vested					250,896
Performance Units | Certain Executives
Share-based Compensation
Number of executives that received awards | item					2											2
Vesting percentage	100%				100%			100%	100%					50%	100%
Awards granted in period (in shares)	41,068							87,273	241,636					259,565	240,000	328,909
Awards granted in period to replace previously issued awards (in shares)					335,851
Number of incremental grants made during the period due to modification of previous awards granted (in shares)					6,942
Grant date fair value (in dollars per share) | $ / shares					$ 2.65									$ 2.26	$ 6.01
Performance period	3 years				3 years			3 years	3 years					1 year	3 years
Performance Units | Vesting on First and Second Anniversary of Determination | Certain Executives
Share-based Compensation
Vesting percentage														25%
2022 LTIP | Maximum
Share-based Compensation
Approved and authorized maximum number of shares to be issued										2,175,000
2022 LTIP | Employee Stock Option [Member]
Share-based Compensation
Expiration period										10 years
2022 LTIP | Employee Stock Option [Member] | Minimum
Share-based Compensation
Vesting period										3 years
2022 LTIP | Employee Stock Option [Member] | Maximum
Share-based Compensation
Vesting period										5 years

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Activity (Details) - Restricted stock - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares
Beginning nonvested shares (in shares)	1,356,772	942,059	950,436
Granted (in shares)	1,031,853	1,603,434	916,531
Vested (in shares)	(782,949)	(806,241)	(690,676)
Forfeited/repurchased shares (in shares)	(390,886)	(382,480)	(234,232)
Ending nonvested shares (in shares)	1,214,790	1,356,772	942,059
Weighted Average Fair Value Per Share
Beginning nonvested shares (in dollars per share)	$ 2.96	$ 3.97	$ 3.04
Granted (in dollars per share)	2.42	2.73	4.58
Vested (in dollars per share)	2.83	2.90	3.43
Forfeited/repurchased shares (in dollars per share)	3.12	4.60	4.22
Ending nonvested shares (in dollars per share)	$ 2.53	$ 2.96	$ 3.97

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Shares
Beginning stock options outstanding (in shares)	303,329	724,704	922,615
Exercised (in shares)			(28,546)
Forfeited (in shares)	(70,465)	(421,375)	(169,365)
Ending stock options outstanding (in shares)	232,864	303,329	724,704
Weighted Average Exercise Price Per Share
Beginning stock options outstanding (in dollars per share)	$ 7.29	$ 7.41	$ 7.10
Exercised (in dollars per share)			3.86
Forfeited (in dollars per share)	7.74	7.49	6.32
Ending stock options outstanding (in dollars per share)	$ 7.15	$ 7.29	$ 7.41
Vested and expected to vest at December 31, 2022
Number of Shares	232,864
Weighted Average Exercise Price Per Share (in dollars per share)	$ 7.15
Weighted Average Contractual Life	3 years 25 days
Exercisable at December 31, 2022
Number of Shares	232,864
Weighted Average Exercise Price Per Share (in dollars per share)	$ 7.15
Weighted Average Contractual Life	3 years 25 days

Employee Benefits - Narrative (

Employee Benefits - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure
Minimum allowable contribution to the plan by each employee, percent	1%
Maximum allowable contribution to the plan by each employee, percent	80%
Company contributions to the plan	$ 2.7	$ 1.4	$ 1.4
Range 1
Defined Contribution Plan Disclosure
Employer matching contribution, percent	100%
Employer matching contribution, percent of employees' gross pay	3%
Range 2
Defined Contribution Plan Disclosure
Employer matching contribution, percent	50%
Employer matching contribution, percent of employees' gross pay	2%

Employee Benefits - Multiemploy

Employee Benefits - Multiemployer Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
International Union of Operating Engineers - Employers Construction Industry Retirement Plan - Local 302 and 612 Trust Funds
Multiemployer Plans [Line Items]
Certified Zone Status	Green	Green
Contributions	$ 1,340	$ 1,289	$ 1,297
Washington Laborers
Multiemployer Plans [Line Items]
Certified Zone Status	Green	Green
Contributions	$ 137	$ 106	244
Carpenters Retirement Plan of Western Washington
Multiemployer Plans [Line Items]
Certified Zone Status	Green	Green
Contributions	$ 1,906	$ 1,717	1,700
Cement Masons & Plasterers Trust Funds
Multiemployer Plans [Line Items]
Contributions			32
Western Conference of Teamsters Pension Trust Fund
Multiemployer Plans [Line Items]
Certified Zone Status	Green	Green
Contributions	$ 46	$ 44	$ 44
Hawaii Operating Engineers Local 3 Trust Funds
Multiemployer Plans [Line Items]
Certified Zone Status	Green	Green
Contributions	$ 121
Hawaii Regional Council of Carpenters
Multiemployer Plans [Line Items]
Certified Zone Status	Green	Green
Contributions	$ 128

Segment Information (Details)

Segment Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($) segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2	2	2
Contract revenues	$ 711,778	$ 748,322	$ 601,360
Operating income (loss)	(6,630)	(8,030)	(9,317)
Depreciation and amortization	(18,844)	(20,915)	(22,608)
Assets	416,893	367,155
Property and equipment, net of depreciation	87,834	100,977
Marine Segment
Segment Reporting Information [Line Items]
Contract revenues	395,917	339,213	263,915
Marine Segment | Foreign
Segment Reporting Information [Line Items]
Contract revenues	36,100	6,700	2,900
Concrete Segment
Segment Reporting Information [Line Items]
Contract revenues	315,861	409,109	337,445
Concrete Segment | Foreign
Segment Reporting Information [Line Items]
Contract revenues	0	0	0
Operating Segments | Marine Segment
Segment Reporting Information [Line Items]
Contract revenues	395,917	339,213	263,915
Operating income (loss)	3,670	9,787	5,760
Depreciation and amortization	(18,219)	(16,592)	(17,287)
Assets	318,684	239,369
Property and equipment, net of depreciation	82,215	91,390
Operating Segments | Concrete Segment
Segment Reporting Information [Line Items]
Contract revenues	315,861	409,109	337,445
Operating income (loss)	(10,300)	(17,817)	(15,077)
Depreciation and amortization	(5,659)	(7,465)	(8,143)
Assets	98,209	127,786
Property and equipment, net of depreciation	5,619	9,587
Intersegment Eliminations
Segment Reporting Information [Line Items]
Contract revenues		$ 200
Intersegment Eliminations | Maximum
Segment Reporting Information [Line Items]
Contract revenues	$ 100		$ 100

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets, net of amortization	$ 25,696	$ 14,978
Financing lease right-of-use assets, net of amortization	23,602	15,839
Total assets	49,298	30,817
Current portion of operating lease liabilities	9,254	4,738
Current portion of financing lease liabilities	8,665	4,031
Total current	17,919	8,769
Operating lease liabilities	16,632	11,018
Financing lease liabilities	13,746	11,102
Total noncurrent	30,378	22,120
Total liabilities	48,297	30,889
Operating lease, right-of-use asset, accumulated amortization	15,600	10,500
Finance lease, right-of-use asset, accumulated amortization	$ 10,200	$ 5,100

Leases - Term and Discount Rate

Leases - Term and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted Average Remaining Lease Term, operating lease	5 years 10 months 24 days	3 years 10 months 24 days
Weighted Average Remaining Lease Term, finance lease	2 years 9 months 29 days	4 years 4 months 9 days
Weighted Average Discount Rate, operating lease	9.32%	4.86%
Weighted Average Discount Rate, finance lease	7.53%	5.62%

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 8,311	$ 5,012	$ 5,814
Short-term lease cost	2,044	1,754	1,607
Interest on lease liabilities	1,189	767	491
Amortization of right-of-use assets	5,034	3,142	2,822
Total lease cost	$ 16,578	$ 10,675	$ 10,734

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash flows for operating leases	$ 8,404	$ 4,966	$ 5,666
Operating cash flows for finance leases	1,189	767	491
Financing cash flows for finance leases	4,791	2,992	3,035
ROU assets obtained in exchange for new operating lease liabilities	18,081	6,740	1,567
ROU assets obtained in exchange for new financing lease liabilities	$ 13,997	$ 9,368	$ 7,318

Leases - Maturities (Details)

Leases - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 10,942
2025	8,203
2026	2,936
2027	2,420
2028	1,390
Thereafter	11,737
Total future minimum lease payments	37,628
Less - amount representing interest	11,742
Operating Lease, Liability, Total	25,886
Less - current lease obligations	9,254	$ 4,738
Long-term lease obligations	16,632	11,018
Finance Leases
2024	9,983
2025	8,747
2026	2,874
2027	1,529
2028	752
Thereafter	831
Total future minimum lease payments	24,716
Less - amount representing interest	2,305
Present value of future minimum lease payments	22,411
Less - current lease obligations	8,665	4,031
Long-term lease obligations	$ 13,746	$ 11,102

Related Party Transaction (Deta

Related Party Transaction (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 10, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party
Contract revenues		$ 711,778	$ 748,322	$ 601,360
Dragados/Hawaiian Dredging/Orion Joint Venture
Related Party
Contract awarded	$ 435,400
Contract revenues		$ 90,500
Dragados/Hawaiian Dredging/Orion Joint Venture | US Navy
Related Party
Contract awarded	$ 2,800,000

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Feb. 27, 2024	Feb. 20, 2024 USD ($) a item	May 15, 2023
Term Loan | 30-day SOFR
Debt instruments
Basis spread on variable rate			8%
Interest rate floor			4%
Subsequent event | Revolving Credit Facility | Credit Agreement Amendment Two
Debt instruments
Decrease in basis points on interest rate	0.50%
Subsequent event | Revolving Credit Facility | Credit Agreement Amendment Two | 30-day SOFR
Debt instruments
Basis spread on variable rate	5%
Subsequent event | Term Loan | Credit Agreement Amendment Two
Debt instruments
Decrease in basis points on interest rate	1%
Subsequent event | Term Loan | Credit Agreement Amendment Two | 30-day SOFR
Debt instruments
Basis spread on variable rate	7%
Interest rate floor	4%
Subsequent event | East and West Jones Property | Brixx Technologies LLC
Property sale
Number of parcels of land sold | item		2
Area of land | a		341.3
Estimated property sale price | $		$ 34

Schedule II - Valuation And Q_2

Schedule II - Valuation And Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provision for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at the Beginning of the Period	$ 606	$ 323	$ 411
Charged to Revenue, Cost or Expense	(109)	322	0
Deduction	136	39	88
Balance at the End of the Period	361	606	323
Deferred tax asset valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at the Beginning of the Period	17,557	15,443	12,493
Charged to Revenue, Cost or Expense	3,238	2,114	3,294
Deduction	0	0	344
Balance at the End of the Period	20,795	17,557	15,443
Reserve for losses on uncompleted contracts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at the Beginning of the Period	353	34	1,473
Charged to Revenue, Cost or Expense	547	351	33
Deduction	347	32	1,472
Balance at the End of the Period	$ 553	$ 353	$ 34

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (17,875)	$ (12,612)	$ (14,560)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false