Limbach (LMB) 10-Q 5 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-36541
Entity Registrant Name	LIMBACH HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-5399422
Entity Address, Address Line One	797 Commonwealth Drive
Entity Address, City or Town	Warrendale
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15086
City Area Code	412
Local Phone Number	359-2100
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	LMB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,273,101
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001606163
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 51,163	$ 59,833
Restricted cash	65	65
Accounts receivable (net of allowance for credit losses of $425 and $292 as of September 30, 2024 and December 31, 2023, respectively)	101,014	97,755
Contract assets	56,937	51,690
Other current assets	7,965	7,657
Total current assets	217,144	217,000
Property and equipment, net	25,088	20,830
Intangible assets, net	32,830	24,999
Goodwill	21,246	16,374
Operating lease right-of-use assets	22,312	19,727
Deferred tax asset	5,618	5,179
Other assets	179	330
Total assets	324,417	304,439
Current liabilities:
Current portion of long-term debt	2,626	2,680
Current operating lease liabilities	3,964	3,627
Accounts payable, including retainage	51,776	65,268
Contract liabilities	46,997	42,160
Accrued income taxes	1,758	446
Accrued expenses and other current liabilities	31,084	30,967
Total current liabilities	138,205	145,148
Long-term debt	20,497	19,631
Long-term operating lease liabilities	18,569	16,037
Other long-term liabilities	4,947	2,708
Total liabilities	182,218	183,524
Commitments and contingencies (Note 13)
STOCKHOLDERS’ EQUITY
Common stock, $0.0001 par value; 100,000,000 shares authorized, issued 11,452,753 and 11,183,076, respectively, and 11,273,101 and 11,003,424 outstanding, respectively	1	1
Additional paid-in capital	92,779	92,528
Treasury stock, at cost (179,652 shares at both period ends)	(2,000)	(2,000)
Retained earnings	51,419	30,386
Total stockholders’ equity	142,199	120,915
Total liabilities and stockholders’ equity	$ 324,417	$ 304,439

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss, current	$ 425	$ 292
Common stock, par or stated value per share (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares, issued (in shares)	11,452,753	11,183,076
Common stock, shares, outstanding (in shares)	11,273,101	11,003,424
Treasury stock (in shares)	179,652	179,652

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 133,920	$ 127,768	$ 375,131	$ 373,659
Cost of revenue	97,806	96,524	274,421	287,675
Gross profit	36,114	31,244	100,710	85,984
Operating expenses:
Selling, general and administrative	23,748	20,967	69,800	62,433
Change in fair value of contingent consideration	610	161	2,344	464
Amortization of intangibles	868	288	2,956	1,054
Total operating expenses	25,226	21,416	75,100	63,951
Operating income	10,888	9,828	25,610	22,033
Other (expenses) income:
Interest expense	(468)	(437)	(1,375)	(1,615)
Interest income	626	377	1,734	624
Gain on disposition of property and equipment	99	68	656	28
Loss on early debt extinguishment	0	0	0	(311)
(Loss) gain on change in fair value of interest rate swap	(267)	116	(130)	153
Total other (expenses) income	(10)	124	885	(1,121)
Income before income taxes	10,878	9,952	26,495	20,912
Income tax provision	3,394	2,760	5,462	5,407
Net income	$ 7,484	$ 7,192	$ 21,033	$ 15,505
Earnings per common share:
Basic (in usd per share)	$ 0.66	$ 0.66	$ 1.87	$ 1.45
Diluted (in usd per share)	$ 0.62	$ 0.61	$ 1.75	$ 1.33
Weighted average number of shares outstanding:
Basic (in shares)	11,272,798	10,962,622	11,233,847	10,695,973
Diluted (in shares)	12,027,021	11,789,137	11,998,750	11,671,819

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Number of Shares	Additional paid-in capital	Treasury stock, at cost	Retained earnings
Beginning balance (in shares) at Dec. 31, 2022		10,471,410
Treasury stock, beginning balance (in shares) at Dec. 31, 2022				(179,652)
Beginning balance at Dec. 31, 2022	$ 95,442	$ 1	$ 87,809	$ (2,000)	$ 9,632
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,133		1,133
Shares issued related to vested restricted stock units (in shares)		250,548
Shares issued related to vested restricted stock units	0
Tax withholding related to vested restricted stock units	(428)		(428)
Shares issued related to employee stock purchase plan (in shares)		10,997
Shares issued related to employee stock purchase plan	97		97
Net income	2,993				2,993
Ending balance (in shares) at Mar. 31, 2023		10,732,955
Treasury stock, ending balance (in shares) at Mar. 31, 2023				(179,652)
Ending balance at Mar. 31, 2023	99,237	$ 1	88,611	$ (2,000)	12,625
Beginning balance (in shares) at Dec. 31, 2022		10,471,410
Treasury stock, beginning balance (in shares) at Dec. 31, 2022				(179,652)
Beginning balance at Dec. 31, 2022	95,442	$ 1	87,809	$ (2,000)	9,632
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,505
Ending balance (in shares) at Sep. 30, 2023		11,183,076
Treasury stock, ending balance (in shares) at Sep. 30, 2023				(179,652)
Ending balance at Sep. 30, 2023	114,130	$ 1	90,992	$ (2,000)	25,137
Beginning balance (in shares) at Mar. 31, 2023		10,732,955
Treasury stock, beginning balance (in shares) at Mar. 31, 2023				(179,652)
Beginning balance at Mar. 31, 2023	99,237	$ 1	88,611	$ (2,000)	12,625
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,101		1,101
Shares issued related to exercise of warrants (in shares)		213,361
Shares issued related to the exercise of warrants	0
Net income	5,320				5,320
Ending balance (in shares) at Jun. 30, 2023		10,946,316
Treasury stock, ending balance (in shares) at Jun. 30, 2023				(179,652)
Ending balance at Jun. 30, 2023	105,658	$ 1	89,712	$ (2,000)	17,945
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,140		1,140
Shares issued related to vested restricted stock units (in shares)		1,151
Shares issued related to vested restricted stock units	0
Shares issued related to employee stock purchase plan (in shares)		6,664
Shares issued related to employee stock purchase plan	140		140
Shares issued related to exercise of warrants (in shares)		228,945
Shares issued related to the exercise of warrants	0
Net income	7,192				7,192
Ending balance (in shares) at Sep. 30, 2023		11,183,076
Treasury stock, ending balance (in shares) at Sep. 30, 2023				(179,652)
Ending balance at Sep. 30, 2023	$ 114,130	$ 1	90,992	$ (2,000)	25,137
Beginning balance (in shares) at Dec. 31, 2023		11,183,076
Treasury stock, beginning balance (in shares) at Dec. 31, 2023	(179,652)			(179,652)
Beginning balance at Dec. 31, 2023	$ 120,915	$ 1	92,528	$ (2,000)	30,386
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,249		1,249
Shares issued related to vested restricted stock units (in shares)		261,673
Shares issued related to vested restricted stock units	0
Tax withholding related to vested restricted stock units	(4,338)		(4,338)
Shares issued related to employee stock purchase plan (in shares)		2,989
Shares issued related to employee stock purchase plan	116		116
Net income	7,586				7,586
Ending balance (in shares) at Mar. 31, 2024		11,447,738
Treasury stock, ending balance (in shares) at Mar. 31, 2024				(179,652)
Ending balance at Mar. 31, 2024	$ 125,528	$ 1	89,555	$ (2,000)	37,972
Beginning balance (in shares) at Dec. 31, 2023		11,183,076
Treasury stock, beginning balance (in shares) at Dec. 31, 2023	(179,652)			(179,652)
Beginning balance at Dec. 31, 2023	$ 120,915	$ 1	92,528	$ (2,000)	30,386
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 21,033
Ending balance (in shares) at Sep. 30, 2024		11,452,753
Treasury stock, ending balance (in shares) at Sep. 30, 2024	(179,652)			(179,652)
Ending balance at Sep. 30, 2024	$ 142,199	$ 1	92,779	$ (2,000)	51,419
Beginning balance (in shares) at Mar. 31, 2024		11,447,738
Treasury stock, beginning balance (in shares) at Mar. 31, 2024				(179,652)
Beginning balance at Mar. 31, 2024	125,528	$ 1	89,555	$ (2,000)	37,972
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,471		1,471
Shares issued related to vested restricted stock units (in shares)		1,914
Shares issued related to vested restricted stock units	0
Net income	5,963				5,963
Ending balance (in shares) at Jun. 30, 2024		11,449,652
Treasury stock, ending balance (in shares) at Jun. 30, 2024				(179,652)
Ending balance at Jun. 30, 2024	132,962	$ 1	91,026	$ (2,000)	43,935
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,603		1,603
Shares issued related to employee stock purchase plan (in shares)		3,101
Shares issued related to employee stock purchase plan	150		150
Net income	$ 7,484				7,484
Ending balance (in shares) at Sep. 30, 2024		11,452,753
Treasury stock, ending balance (in shares) at Sep. 30, 2024	(179,652)			(179,652)
Ending balance at Sep. 30, 2024	$ 142,199	$ 1	$ 92,779	$ (2,000)	$ 51,419

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 21,033	$ 15,505
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	8,261	5,751
Provision for credit losses	159	186
Stock-based compensation expense	4,323	3,374
Noncash operating lease expense	3,092	2,843
Amortization of debt issuance costs	32	69
Deferred income tax provision	(439)	(1)
Gain on sale of property and equipment	(656)	(28)
Loss on change in fair value of contingent consideration	2,344	464
Loss on early debt extinguishment	0	311
Gain on change in fair value of interest rate swap	130	(153)
Changes in operating assets and liabilities:
Accounts receivable	4,283	21,896
Contract assets	(1,115)	14,014
Other current assets	(395)	(1,459)
Accounts payable, including retainage	(18,418)	(18,703)
Prepaid income taxes	0	95
Accrued taxes payable	1,311	(1,386)
Contract liabilities	10	2,312
Operating lease liabilities	(2,895)	(2,803)
Accrued expenses and other current liabilities	(1,446)	1,997
Payment of contingent consideration liability in excess of acquisition-date fair value	(2,175)	(1,224)
Other long-term liabilities	55	400
Net cash provided by operating activities	17,494	43,460
Cash flows from investing activities:
Proceeds from sale of property and equipment	1,171	370
Advances from joint ventures	7	0
Purchase of property and equipment	(6,187)	(1,720)
Net cash used in investing activities	(17,725)	(6,233)
Cash flows from financing activities:
Payments on A&R Wintrust Term Loans	0	(21,452)
Proceeds from Wintrust Revolving Loan	0	10,000
Payment of contingent consideration liability up to acquisition-date fair value	(1,325)	(1,776)
Payments on finance leases	(2,296)	(1,991)
Payments of debt issuance costs	0	(50)
Taxes paid related to net-share settlement of equity awards	(5,187)	(847)
Proceeds from contributions to Employee Stock Purchase Plan	369	313
Net cash used in financing activities	(8,439)	(15,803)
(Decrease) increase in cash, cash equivalents and restricted cash	(8,670)	21,424
Cash, cash equivalents and restricted cash, beginning of period	59,898	36,114
Cash, cash equivalents and restricted cash, end of period	51,228	57,538
Noncash investing and financing transactions:
Right of use assets obtained in exchange for new operating lease liabilities	4,776	1,043
Right of use assets obtained in exchange for new finance lease liabilities	3,095	4,062
Right of use assets disposed or adjusted modifying operating lease liabilities	988	(643)
Right of use assets disposed or adjusted modifying finance lease liabilities	0	(77)
Interest paid	1,413	1,482
Cash paid for income taxes	4,700	6,718
Kent Island Mechanical, Inc.
Cash flows from investing activities:
Net of cash acquired	(12,716)	0
Noncash investing and financing transactions:
Earnout liability	4,381	0
ACME Industrial piping LLC
Cash flows from investing activities:
Net of cash acquired	0	(4,883)
Noncash investing and financing transactions:
Earnout liability	$ 0	$ 1,121

Business and Organization

Business and Organization	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	Business and Organization Limbach Holdings, Inc. (the “Company,” “we” or “us”), a Delaware corporation headquartered in Warrendale, Pennsylvania, was formed on July 20, 2016 as a result of a business combination with Limbach Holdings LLC (“LHLLC”). The Company is a building systems solutions firm who strives to be an indispensable partner to building owners with mission critical mechanical (heating, ventilation, air conditioning), electrical, and plumbing infrastructure. The Company’s focus is in six vertical markets: healthcare, industrial and manufacturing, data centers, life science, higher education, and cultural and entertainment. The Company provides comprehensive facility services with expertise in the management and maintenance of mechanical, electrical, plumbing and controls systems who uniquely combines engineering solutions with field installation expertise to provide custom solutions. The Company has more than 1,300 team members in 19 offices across the eastern United States and operates primarily in the Eastern and Midwest regions of the United States.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation References in these financial statements to the Company refer collectively to the accounts of Limbach Holdings, Inc. and its wholly-owned subsidiaries, including LHLLC, Limbach Facility Services LLC (“LFS”), Limbach Company LLC (“LC LLC”), Limbach Company LP, Harper Limbach LLC, Harper Limbach Construction LLC, Limbach Facility & Project Solutions LLC, Jake Marshall, LLC (“JMLLC”), Coating Solutions, LLC (“CSLLC”), ACME Industrial Piping, LLC (“ACME”), Industrial Air, LLC (“Industrial Air”), and Kent Island Mechanical, LLC (“Kent Island”) for all periods presented, unless otherwise indicated. All intercompany balances and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and with the requirements of Form 10-Q and Rule 8-03 of Regulation S-X for smaller reporting companies. Consequently, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. Readers of this report should refer to the consolidated financial statements and the notes thereto included in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 13, 2024. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements for assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, the reported amounts of revenue and expenses during the reported period, and the accompanying notes. Management believes that its most significant estimates and assumptions have been based on reasonable and supportable assumptions and the resulting estimates are reasonable for use in the preparation of the condensed consolidated financial statements. The Company’s significant estimates include estimates associated with revenue recognition on construction contracts, costs incurred through each balance sheet date, intangibles, property and equipment, fair value accounting for acquisitions, insurance reserves, income tax valuation allowances, fair value of contingent consideration arrangements and contingencies. If the underlying estimates and assumptions upon which the condensed consolidated financial statements are based change in the future, actual amounts may differ from those included in the accompanying consolidated financial statements. Unaudited Interim Financial Information The accompanying interim Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Stockholders’ Equity and Condensed Consolidated Statements of Cash Flows for the periods presented are unaudited. Also, within the notes to the condensed consolidated financial statements, the Company has included unaudited information for these interim periods. These unaudited interim condensed consolidated financial statements have been prepared in accordance with GAAP. In the Company's opinion, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary for a fair statement of the Company’s financial position as of September 30, 2024, its results of operations and equity for the three and nine months ended September 30, 2024 and 2023 and its cash flows for the nine months ended September 30, 2024 and 2023. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024. The Condensed Consolidated Balance Sheet as of December 31, 2023 was derived from the Company's audited financial statements included in its Annual Report on Form 10-K filed with the SEC on March 13, 2024, but is presented as condensed and does not contain all of the footnote disclosures from the annual financial statements. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This update aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The update also requires disclosure regarding the chief operating decision maker and expands the interim segment disclosure requirements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-07 on its condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). This update requires entities to disclose additional information with respect to the effective tax rate reconciliation and to disclose the disaggregation by jurisdiction of income tax expense and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09 on its condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) : Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity and amends the scope guidance for contracts in an entity's own equity. The ASU addresses how convertible instruments are accounted for in the calculation of diluted earnings per share by using the if-converted method. The guidance is effective for all entities for fiscal years beginning after March 31, 2024, albeit early adoption is permitted no earlier than fiscal years beginning after December 15, 2020. The Company is currently assessing the impact of this pronouncement on its condensed consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions Kent Island Transaction On September 3, 2024 (the “Kent Island Effective Date”), the Company, LFS, Kent Island, and the owner of Kent Island (the “Kent Island Seller”) entered into a Purchase Agreement (the “Kent Island Purchase Agreement”) pursuant to which LFS purchased all of the outstanding equity interests in Kent Island from the Kent Island Seller (the “Kent Island Transaction”). The Kent Island Transaction closed on the Kent Island Effective Date. As a result of the Kent Island Transaction, Kent Island became a wholly-owned indirect subsidiary of the Company. Kent Island is a leading provider of building systems solutions in the Greater Washington, DC metro area, including suburban Maryland and Northern Virginia. Kent Island excels in designing, engineering, installing, servicing, and maintaining mechanical and plumbing systems for complex facilities. The acquisition expands the Company’s market share within its existing operating footprint, provides further exposure to an attractive customer base and supports the Company's continued ODR growth strategy. Total consideration paid by the Company for the Kent Island Transaction at closing was $15.0 million (the “Kent Island Closing Purchase Price”), which was funded by cash on hand. The payment is subject to typical adjustments for working capital. Of the consideration paid to the Kent Island Seller, approximately $0.4 million was held in escrow for indemnification purposes. The purchase price is subject to customary post-closing adjustments. In addition, the Kent Island Seller may receive up to an aggregate of $5.0 million in cash, consisting of two individual tranches of $2.5 million pursuant to the terms of the Kent Island Purchase Agreement, if the gross profit of Kent Island equals or exceeds approximately (i) $3.3 million in the 12-month period beginning on the Kent Island Effective Date (the “First Kent Island Earnout Period”) or (ii) $0.2 million in the 12- month period beginning on the first anniversary of the Kent Island Effective Date (the “Second Kent Island Earnout Period” and together with the First Kent Island Earnout Period, the “Kent Island Earnout Payments”). Preliminary Allocation of Purchase Price. The Kent Island Transaction was accounted for as a business combination using the acquisition method. The following table summarizes the preliminary purchase price and estimated fair values of assets acquired and liabilities assumed as of the Kent Island Effective Date, with any excess of purchase price over estimated fair value of the identified net assets acquired recorded as goodwill. As a result of the acquisition, the Company recognized $4.8 million of goodwill, which was allocated between the Company's ODR and GCR segments and fully deductible for tax purposes. Such goodwill primarily related to anticipated future earnings. The following table summarizes the preliminary allocation of the fair value of the assets and liabilities of the Kent Island Transaction as of the Kent Island Effective Date by the Company. (in thousands) Preliminary Purchase Price Allocation Consideration: Cash $ 14,603 Earnout provision 4,381 Total Consideration 18,984 Fair value of assets acquired: Cash and cash equivalents 1,887 Accounts receivable, including retainage 10,376 Contract assets 1,457 Property and equipment 434 Intangible assets 10,700 Amount attributable to assets acquired 24,854 Fair value of liabilities assumed: Accounts payable, including retainage 4,586 Accrued expenses and other current liabilities 1,269 Contract liabilities 4,828 Amount attributable to liabilities assumed 10,683 Goodwill $ 4,813 As of September 30, 2024, the allocation of the purchase price has not been finalized with respect to the valuation of identifiable intangible assets acquired, the fair value of certain tangible assets acquired and liabilities assumed, goodwill and tax related matters. A final determination of fair value of assets acquired and liabilities assumed relating to the acquisition could differ from the preliminary purchase price allocation. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable, but no later than one year from the Kent Island Effective Date. For working capital items, such as cash and cash equivalents, accounts receivable, other current assets, accounts payable and accrued expenses and other current liabilities, the carrying value was assumed to represent the fair value of these assets and liabilities due to their current nature. There was no difference between the contract value and fair value of accounts receivable acquired. The estimated fair value of property and equipment, generally consisting of machinery, and equipment, was estimated using the cost approach. Significant unobservable inputs in the estimate of fair value under this approach included management's assumptions about the replacement costs for similar assets, the relative age of the acquired assets and any potential economic or functional obsolescence associated with the acquired assets. As a result, the estimated fair value of the property and equipment represented a Level 3 fair value measurement. As part of the preliminary purchase price allocation, the Company identified certain definite-lived intangible assets associated with customer relationships with third-party customers, acquired backlog and the acquired trade name and trademarks. The fair value of the customer relationships with third-party customers and acquired backlog was determined using the multi-period excess earning method under the income approach. The multi-period excess earnings method is a variation of the discounted cash-flow analysis, which isolates the cash flows that can be associated with a single intangible asset and measures fair value by discounting it back to present value. The fair value of the acquired trade name and trademarks intangible asset was determined using an income approach, specifically known as the relief-from-royalty method. This method requires identifying the future revenue that would be generated by the trademark, multiplying it by a royalty rate deemed to be avoided through ownership of the asset and discounting the projected royalty savings amounts back to the acquisition date. The royalty rate used in the valuation was based on a consideration of market rates for similar categories of assets. Some of the more significant estimates and assumptions inherent in determining the fair value of the identifiable intangible assets are associated with forecasting cash flows and profitability, which represent Level 3 inputs. The Company calculates amortization of the acquired intangible assets using the straight-line method over the estimated useful lives of each acquired intangible assets. The estimated annual amortization expense for the remainder of 2024 is approximately $1.2 million, $3.5 million for 2025 and $1.1 million for each of the next four years. Intangible assets, net as of September 30, 2024 are detailed below. (in thousands) Gross Carrying Amount Accumulated Amortization Net Intangible Assets Weighted Average Useful Life (Years) Trade name and trademarks $ 200 $ — $ 200 1.0 Customer relationships - ODR 2,625 — 2,625 6.8 Customer relationships - GCR 4,875 — 4,875 6.8 Backlog - ODR 1,050 — 1,050 1.3 Backlog - GCR 1,950 — 1,950 1.3 Total $ 10,700 $ — $ 10,700 5.1 The aforementioned contingent Kent Island Earnout Payments are associated with the achievement of specified gross profit milestones. The Company estimated that the fair value of the Kent Island Earnout Payments was approximately $4.4 million at the date of acquisition, of which $2.2 million of this balance was included in other long-term liabilities in the Company’s consolidated balance sheet as of September 30, 2024. The Company determined the initial fair value of the Kent Island Earnout Payments based on the Monte Carlo Simulation method, which represented a Level 3 measurement. As of the Effective Date, the Kent Island Earnout Payments associated with the Kent Island Transaction were valued utilizing discount rates of 14.9%. The discount rate was calculated using the build-up method with a risk-free rate commensurate with the term of the Kent Island Earnout Payments based on the U.S. Treasury Constant Maturity Yield and certain metric risk premiums determined with reference to a long-term risk free rate, a weighted average cost of capital and certain adjustments for operational leverage. Subsequent to the Kent Island Effective Date, the Kent Island Earnout Payments are re-measured at fair value each reporting period. Changes in the estimated fair value of the contingent payments subsequent to the acquisition date are recognized immediately in earnings. ACME Transaction On July 3, 2023 (the “ACME Effective Date”), the Company, LFS, ACME, and the owner of ACME (the “ACME Seller”) entered into a Purchase Agreement (the “ACME Purchase Agreement”) pursuant to which LFS purchased all of the outstanding equity interests in ACME from the ACME Seller (the “ACME Transaction”). The ACME Transaction closed on the ACME Effective Date. As a result of the ACME Transaction, ACME became a wholly-owned indirect subsidiary of the Company. ACME specializes in performing industrial maintenance, capital project work, and emergency services for specialty chemical and manufacturing clients, and is a leading mechanical solutions provider for hydroelectric producers. The acquisition expands the Company’s market share within its existing operating footprint, provides further exposure to an attractive customer base and supports the Company's continued ODR growth strategy. Total consideration paid by the Company for the ACME Transaction at closing was $5.0 million (the “ACME Closing Purchase Price”), consisting of cash paid to the ACME Seller, subject to typical adjustments for working capital. Of the consideration paid to the ACME Seller, approximately $0.4 million was held in escrow for indemnification purposes. The purchase price is subject to customary post-closing adjustments. In addition, the ACME Seller may receive up to an aggregate of $2.5 million in cash, consisting of two individual tranches of $0.5 million and $2.0 million pursuant to the terms of the ACME Purchase Agreement, if the gross profit of ACME equals or exceeds (i) $2.0 million in the 12-month period beginning on the ACME Effective Date (the “First ACME Earnout Period”) or (ii) $2.5 million in the 12-month period beginning on the first anniversary of the ACME Effective Date (the “Second ACME Earnout Period” and together with the First ACME Earnout Period, the “ACME Earnout Payments”). Notwithstanding the foregoing, if ACME’s Adjusted EBITDA, as defined within the ACME Purchase Agreement, for calendar year 2023 equaled or exceeded $2.5 million then the Company would have been required to pay the ACME Seller $2.5 million, and the ACME Seller would not have been entitled to any further payment. This particular earnout condition was not met as of December 31, 2023. Industrial Air Transaction On November 1, 2023 (the “IA Effective Date”), the Company, LFS, Industrial Air, and the owner of Industrial Air (the “IA Seller”) entered into a Purchase Agreement (the “IA Purchase Agreement”) pursuant to which LFS purchased all of the outstanding equity interests in Industrial Air from the IA Seller (the “Industrial Air Transaction”). The Industrial Air Transaction closed on the IA Effective Date. As a result of the Industrial Air Transaction, Industrial Air became a wholly-owned indirect subsidiary of the Company. Industrial Air serves industrial customers throughout the Southeast United States and along the Eastern seaboard, focusing on delivering engineered air handling systems, including air conditioning and air filtration, along with controls systems and maintenance work. In addition, Industrial Air manufactures a wide range of components for air conditioning and filtration systems. The Industrial Air Transaction provides the Company with a presence in an attractive and growing geographic market, where the acquired entity has a strong ODR customer base and supports the Company’s continued ODR growth strategy. Total consideration paid by the Company for the Industrial Air Transaction at closing was $13.5 million (the “IA Closing Purchase Price”), consisting of cash paid to the IA Seller, subject to typical adjustments for working capital. Of the consideration paid to the IA Seller, approximately $1.4 million was transferred into an escrow account for indemnification purposes. The purchase price is subject to customary post-closing adjustments. In addition, the IA Seller may receive up to an aggregate of $6.5 million in cash, consisting of two individual tranches of $3.0 million and $3.5 million pursuant to the terms of the Industrial Air Purchase Agreement, if the gross profit of Industrial Air equals or exceeds (i) $7.6 million in the 12-month period beginning on the IA Effective Date (the “First IA Earnout Period”) or (ii) $8.8 million in the 12-month period beginning on the first anniversary of the IA Effective Date (the “Second IA Earnout Period” and together with the First IA Earnout Period, the “IA Earnout Payments”). However, if the gross profit of Industrial Air is less than $7.6 million but exceeds $6.6 million during the First IA Earnout Period then the IA Seller would receive a portion of the deferred payment made on a pro rata basis. Similarly, if the gross profit of Industrial Air is less than $8.8 million but exceeds $7.8 million during the Second IA Earnout Period then the IA Seller would receive a portion of the deferred payment made on a pro rata basis.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company generates revenue from construction type contracts, primarily consisting of fixed-price contracts, to deliver mechanical, plumbing, and electrical construction services to its customers. The duration of its contracts generally ranges from three months to two years. Revenue from fixed price contracts is recognized on the cost-to-cost method, measured by the relationship of total cost incurred to total estimated contract costs. Revenue from time and materials contracts is recognized as services are performed. The Company believes that its extensive experience in mechanical, plumbing, and electrical projects, and its internal cost review procedures during the bidding process, enable it to reasonably estimate costs and mitigate the risk of cost overruns on fixed price contracts. The Company generally invoices customers on a monthly basis, based on a schedule of values that breaks down the contract amount into discrete billing items. Costs and estimated earnings in excess of billings on uncompleted contracts are recorded as a contract asset until billable under the contract terms. Billings in excess of costs and estimated earnings on uncompleted contracts are recorded as a contract liability until the related revenue is recognizable. The Company classifies contract assets and liabilities that may be settled beyond one year from the balance sheet date as current, consistent with the length of time of the Company’s project operating cycle. Contract assets Contract assets include costs and estimated earnings in excess of billings on uncompleted contracts and amounts due under retainage provisions. The components of the contract asset balances as of the respective dates were as follows: (in thousands) September 30, 2024 December 31, 2023 Change Contract assets Costs and estimated earnings in excess of billings on uncompleted contracts $ 34,140 $ 29,247 $ 4,893 Retainage receivable 22,797 22,443 354 Total contract assets $ 56,937 $ 51,690 $ 5,247 Retainage receivable represents amounts invoiced to customers where payments have been partially withheld, typically 10%, pending the completion of certain milestones, satisfaction of other contractual conditions or the completion of the project. Retainage agreements vary from project to project and balances could be outstanding for several months or years depending on a number of circumstances such as contract-specific terms, project performance and other variables that may arise as the Company makes progress towards completion. Contract assets represent the excess of contract costs and profits (or contract revenue) over the amount of contract billings to date and are classified as a current asset. Contract assets result when either: (1) the appropriate contract revenue amount has been recognized over time in accordance with ASC Topic 606, but a portion of the revenue recorded cannot be currently billed due to the billing terms defined in the contract, or (2) costs are incurred related to certain claims and unapproved change orders. Claims occur when there is a dispute regarding both a change in the scope of work and the price associated with that change. Unapproved change orders occur when a change in the scope of work results in additional work being performed before the parties have agreed on the corresponding change in the contract price. The Company routinely estimates recovery related to claims and unapproved change orders as a form of variable consideration at the most likely amount it expects to receive and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Claims and unapproved change orders are billable upon the agreement and resolution between the contractual parties and after the execution of contractual amendments. Increases in claims and unapproved change orders typically result from costs being incurred against existing or new positions; decreases normally result from resolutions and subsequent billings. The current estimated net realizable value on such items as recorded in contract assets and contract liabilities in the condensed consolidated balance sheets was $12.1 million and $19.5 million as of September 30, 2024 and December 31, 2023, respectively. The Company currently anticipates that the majority of such amounts will be approved or executed within one year. The resolution of those claims and unapproved change orders that may require litigation or other forms of dispute resolution proceedings may delay the timing of billing beyond one year. Contract liabilities Contract liabilities include billings in excess of contract costs and estimated earnings on uncompleted contracts and provisions for losses. The components of the contract liability balances as of the respective dates were as follows: (in thousands) September 30, 2024 December 31, 2023 Change Contract liabilities Billings in excess of costs and estimated earnings on uncompleted contracts $ 46,908 $ 41,987 $ 4,921 Provisions for losses 89 173 (84) Total contract liabilities $ 46,997 $ 42,160 $ 4,837 Billings in excess of costs and estimated earnings on uncompleted contracts represent the excess of contract billings to date over the amount of contract costs and profits (or contract revenue) recognized to date. The balance may fluctuate depending on the timing of contract billings and the recognition of contract revenue. Provisions for losses are recognized in the condensed consolidated statements of operations at the uncompleted performance obligation level for the amount of total estimated losses in the period that evidence indicates that the estimated total cost of a performance obligation exceeds its estimated total revenue. The net (overbilling) underbilling position for contracts in process consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Revenue earned on uncompleted contracts $ 630,199 $ 551,120 Less: Billings to date (642,967) (563,860) Net (overbilling) underbilling $ (12,768) $ (12,740) (in thousands) September 30, 2024 December 31, 2023 Costs and estimated earnings in excess of billings on uncompleted contracts $ 34,140 $ 29,247 Billings in excess of costs and estimated earnings on uncompleted contracts (46,908) (41,987) Net (overbilling) underbilling $ (12,768) $ (12,740) Revisions in Contract Estimates The Company recorded revisions in its contract estimates for certain ODR and GCR projects. During the three months ended September 30, 2024, the Company did not record any gross profit write-ups or write-downs that had a net gross profit impact of $0.5 million or more. During the nine months ended September 30, 2024, the Company recorded gross profit write-ups on four ODR projects and two GCR projects for a total of $3.9 million and $1.5 million, respectively, and one GCR project gross profit write-down for a total of $0.6 million that had a net gross profit impact of $0.5 million or more. During the three months ended September 30, 2023, the Company recorded gross profit write-ups on three GCR projects for a total of $3.1 million, inclusive of a $1.2 million write-up related to the settlement of a past claim, and one GCR project gross profit write-down for $0.7 million and one ODR project gross profit write-down for $0.6 million. During the nine months ended September 30, 2023, the Company recorded gross profit write-ups on two GCR projects for a total of $2.2 million, inclusive of a $1.2 million write-up related to the settlement of a past claim, and one GCR project gross profit write-down for $0.5 million and one ODR project gross profit write-down for $0.7 million. Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for which work has not been performed and exclude unexercised contract options. The Company’s remaining performance obligations include projects that have a written award, a letter of intent, a notice to proceed or an agreed upon work order to perform work on mutually accepted terms and conditions. As of September 30, 2024, the aggregate amount of the transaction prices allocated to the remaining performance obligations of the Company's ODR and GCR segment contracts were $188.7 million and $161.5 million, respectively. The Company currently estimates that 39% and 31% of its ODR and GCR segment remaining performance obligations as of September 30, 2024, respectively, will be recognized as revenue during the remainder of 2024, with the substantial majority of remaining performance obligations to be recognized within 24 months, although the timing of the Company's performance is not always under its control. Additionally, the difference between remaining performance obligations and backlog is due to the exclusion of a portion of the Company’s ODR agreements under certain contract types from the Company’s remaining performance obligations as these contracts can be canceled for convenience at any time by the Company or the customer without considerable cost incurred by the customer.

Goodwill and Intangibles

Goodwill and Intangibles	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	Goodwill and Intangibles Goodwill Goodwill was $21.2 million and $16.4 million as of September 30, 2024 and December 31, 2023, respectively. The Company tests its goodwill and indefinite-lived intangible assets allocated to its reporting units for impairment annually on October 1, or more frequently if events or circumstances indicate that it is more likely than not that the fair value of its reporting units and indefinite-lived intangible assets are less than their carrying amount. The Company has the option to assess goodwill for possible impairment by performing a qualitative analysis to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessments results in a more-likely-than-not determination or if a qualitative assessment is not performed. The Company did not recognize any impairment charges on its goodwill or intangible assets during the three and nine months ended September 30, 2024 and September 30, 2023. The following table summarizes the carrying amount and changes in goodwill associated with the Company's segments for the nine months ended September 30, 2024 and for the year ended December 31, 2023. (in thousands) GCR ODR Total Goodwill as of January 1, 2023 $ — $ 11,370 $ 11,370 Goodwill associated with the ACME Transaction (1) — 2,226 2,226 Goodwill associated with the Industrial Air Transaction — 2,778 2,778 Goodwill as of December 31, 2023 — 16,374 16,374 Measurement period adjustments - Industrial Air Transaction (2) — 59 59 Goodwill associated with the Kent Island Transaction (3) 3,725 1,088 4,813 Goodwill as of September 30, 2024 $ 3,725 $ 17,521 $ 21,246 (1) Includes certain adjustments, net, to preliminary estimates of fair value within the measurement period of up to one-year from the date of the ACME Transaction. Measurement period adjustments, net, relate primarily to an increase in certain definite-lived intangible assets, partially offset by an increase in total consideration associated with the earnout provision. (2) Includes certain adjustments to preliminary estimates of fair value within the measurement period of up to one-year from the date of the Industrial Air Transaction. Measurement period adjustments related to certain working capital adjustments. (3) In connection with the Kent Island Transaction, the Company recorded preliminary goodwill of $4.8 million. The acquisition accounting is subject to change as the Company obtains additional information about the facts and circumstances that existed as of the acquisition date during the measurement period, not to exceed one year from the Kent Island Effective Date. Intangible Assets Intangible assets are comprised of the following: (in thousands) Gross Accumulated Net intangible September 30, 2024 Amortized intangible assets: Customer relationships $ 22,820 $ (6,385) $ 16,435 Backlog 5,560 (2,560) 3,000 Trade name, trademarks and intellectual property 4,450 (1,015) 3,435 Total amortized intangible assets 32,830 (9,960) 22,870 Unamortized intangible assets: Trade name – Limbach (1) 9,960 — 9,960 Total unamortized intangible assets 9,960 — 9,960 Total amortized and unamortized assets, excluding goodwill $ 42,790 $ (9,960) $ 32,830 (1) The Company has determined that its trade name has an indefinite useful life. The Limbach trade name has been in existence since the Company’s founding in 1901 and therefore is an established brand within the industry. (in thousands) Gross Accumulated Net intangible December 31, 2023 Amortized intangible assets: Customer relationships $ 15,320 $ (5,249) $ 10,071 Backlog 2,560 (1,264) 1,296 Trade name, trademarks and intellectual property 4,250 (578) 3,672 Total amortized intangible assets 22,130 (7,091) 15,039 Unamortized intangible assets: Trade name – Limbach 9,960 — 9,960 Total unamortized intangible assets 9,960 — 9,960 Total amortized and unamortized assets, excluding goodwill $ 32,090 $ (7,091) $ 24,999 Total amortization expense for the Company's definite-lived intangible assets was $0.9 million and $3.0 million for the three and nine months ended September 30, 2024, respectively, and $0.3 million and $1.1 million for the three and nine months ended September 30, 2023, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consists of the following obligations as of: (in thousands) September 30, 2024 December 31, 2023 A&R Wintrust Revolving Loans 10,000 10,000 Finance leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 3.96% to 8.60% through 2031 8,146 7,347 Financing liability 5,351 5,351 Total debt 23,497 22,698 Less - Current portion of long-term debt (2,626) (2,680) Less - Unamortized discount and debt issuance costs (374) (387) Long-term debt $ 20,497 $ 19,631 Wintrust Term and Revolving Loans On February 24, 2021, LFS, LHLLC and the direct and indirect subsidiaries of LFS from time to time included as parties to the agreement (the “Wintrust Guarantors”) entered into a credit agreement (the “Wintrust Credit Agreement”) by and among LFS, LHLLC, Wintrust Guarantors, the lenders party thereto from time to time, Wheaton Bank & Trust Company, N.A., a subsidiary of Wintrust Financial Corporation (collectively, “Wintrust”), as administrative agent and L/C issuer, Bank of the West as documentation agent, M&T Bank as syndication agent, and Wintrust as lead arranger and sole book runner. In accordance with the terms of the Wintrust Credit Agreement, Lenders provided to LFS (i) a $30.0 million senior secured term loan (the “Wintrust Term Loan”); and (ii) a $25.0 million senior secured revolving credit facility with a $5.0 million sublimit for the issuance of letters of credit (the “Wintrust Revolving Loan” and, together with the Wintrust Term Loan, the “Wintrust Loans”). Proceeds of the Wintrust Loans were used to refinance certain existing indebtedness, finance working capital and other general corporate purposes and fund certain fees and expenses associated with the closing of the Wintrust Loans. In conjunction with the Company's acquisitions of JMLLC and CSLLC (the “Jake Marshall Transaction”), the Company entered into an amendment and restatement to the Wintrust Credit Agreement (the “A&R Wintrust Credit Agreement”). In accordance with the terms of the A&R Credit Agreement, Lenders provided to LFS (i) a $35.5 million senior secured term loan (the “A&R Wintrust Term Loan”); and (ii) a $25 million senior secured revolving credit facility with a $5 million sublimit for the issuance of letters of credit (the “A&R Wintrust Revolving Loan” and, together with the Term Loan, the “A&R Wintrust Loans”). The overall Wintrust Term Loan commitment under the A&R Wintrust Credit Agreement was recast at $35.5 million in connection with the A&R Credit Agreement. A portion of the A&R Wintrust Term Loan commitment was used to fund the closing purchase price of the Jake Marshall Transaction. The A&R Credit Agreement was also amended to: (i) permit the Company to undertake the Jake Marshall Transaction, (ii) make certain adjustments to the covenants under the A&R Credit Agreement (which were largely done to make certain adjustments for the Jake Marshall Transaction), (iii) allow for the Jake Marshall Earnout Payments (as defined in Note 8 ) under the Jake Marshall Transaction, and (iv) make other corresponding changes to the A&R Credit Agreement. On May 5, 2022, the Company, LFS and LHLLC entered into a first amendment and waiver to the A&R Wintrust Credit Agreement (the “First Amendment to the A&R Wintrust Credit Agreement”) with the lenders party thereto and Wintrust, as administrative agent. The First Amendment to the A&R Wintrust Credit Agreement modifies certain definitions within the A&R Wintrust Credit Agreement, and makes other corresponding changes, including: (i) the definition of “EBITDA” to allow for the recognition of certain restructuring charges and lease breakage costs not previously specified, (ii) the definition of “Excess Cash Flow” to exclude the aggregate amount of the Earnout Payments paid in cash, (iii) the definition of “Total Funded Debt” to exclude certain capitalized lease obligations for real estate based on the approval of each lender and (iv) the definition of “Disposition” to include a clause for the sale and leaseback of certain real property based on the approval of each lender. In July 2022, the Company entered into an interest rate swap agreement to manage the risk associated with a portion of its variable-rate long-term debt. The interest rate swap involves the exchange of fixed-rate and variable-rate payments without the exchange of the underlying notional amount on which the interest payments are calculated. The new swap agreement became effective on July 14, 2022 and will terminate on July 31, 2027. The notional amount of the swap agreement is $10.0 million with a fixed interest rate of 3.12%. If the one-month SOFR (as defined in the A&R Credit Agreement) is above the fixed rate, the counterparty pays the Company, and if the one-month SOFR is less than the fixed rate, the Company pays the counterparty, the difference between the fixed rate of 3.12% and the one-month SOFR. The Company has not designated this instrument as a hedge for accounting purposes. As a result, the change in fair value of the derivative instrument is recognized directly in earnings on the Company's condensed consolidated statements of operations as a gain or loss on interest rate swap. Refer to Note 8 for further information regarding this interest rate swap. On September 28, 2022, the Company, LFS and LHLLC entered into a second amendment and waiver to the amended and restated Wintrust credit agreement (the “Second Amendment to the A&R Wintrust Credit Agreement”) with the lenders party thereto and Wintrust, as administrative agent. The Second Amendment to the A&R Wintrust Credit Agreement incorporates certain restricted payment provisions, among other things, to permit LFS to repurchase shares under the Company’s Share Repurchase Program (as defined in Note 7). On May 5, 2023, LFS, LHLLC and the direct and indirect subsidiaries of LFS from time to time included as parties to the agreement entered into the Second Amended and Restated Credit Agreement (the “Second A&R Credit Agreement”) with the lenders party thereto and Wintrust, as administrative agent, which amends and restates the A&R Wintrust Credit Agreement. In accordance with the Second A&R Credit Agreement (i) lenders provided to LFS a $50.0 million senior secured revolving credit facility with a $5.0 million sublimit for the issuance of letters of credit, an increase of $25.0 million over the A&R Wintrust Revolving Loan, with a maturity date of February 24, 2028 (the “Second A&R Wintrust Revolving Loan”), and (ii) LFS repaid the then outstanding principal balance of the A&R Wintrust Term Loan using proceeds of the Second A&R Wintrust Revolving Loan. Prior to the execution of this agreement, the Company repaid $9.6 million of the then outstanding balance under the A&R Term Loan with cash on hand. As a result of the early repayment of the A&R Wintrust Term Loan and certain changes to the members of the loan syndicate under the Second A&R Wintrust Credit Agreement, the Company wrote off approximately $0.3 million of unamortized debt issuance costs, which are reported as a loss on early debt extinguishment on the Company's condensed consolidated statements of operations. Prior to its repayment on May 5, 2023, the interest rate in effect on the non-hedged portion of the A&R Wintrust Term Loan was 9.25%. For the period from April 1, 2023 through May 5, 2023 and from January 1, 2023 through May 5, 2023, the Company incurred interest on the A&R Wintrust Term Loan at a weighted average annual interest rate of 9.00% and 8.76%, respectively. The Second A&R Wintrust Revolving Loan bears interest, at LFS’s option, at either the Term SOFR (as defined in the Second A&R Credit Agreement) (with a 0.15% floor) plus 3.10% or the Prime Rate (as defined in the Second A&R Credit Agreement) (with a 3.0% floor), subject to a 50 basis point step-down based on the ratio between the senior debt of the Company and its subsidiaries to the EBITDA of LFS and its subsidiaries for the most recently ended four fiscal quarters. The Second A&R Wintrust Revolving Loan is secured by (i) a valid, perfected and enforceable lien of the administrative agent on the ownership interests held by each of LFS and Wintrust Guarantors in their respective subsidiaries; and (ii) a valid, perfected and enforceable lien of the administrative agent on each of LFS and Wintrust Guarantors’ personal property, fixtures and real estate, subject to certain exceptions and limitations. Additionally, the re-payment of the Second A&R Wintrust Revolving Loan is jointly and severally guaranteed by each Wintrust Guarantor. The Second A&R Credit Agreement contains representations and warranties, covenants and events of default that are customary for facilities of this type, as more particularly described in the Second A&R Credit Agreement. The Second A&R Wintrust Revolving Loan also contains three financial maintenance covenants, including (i) a requirement to have as of the last day of each quarter for the senior leverage ratio of LFS and its subsidiaries not to exceed an amount beginning at 2.00 to 1.00, (ii) a fixed charge coverage ratio of not less than 1.20 to 1.00 as of the last day of each fiscal quarter, commencing with the fiscal quarter ending March 31, 2023, and (iii) no unfinanced capital expenditures, except for unfinanced capital expenditures in the ordinary course of business not exceeding in the aggregate $4.0 million during any fiscal year; and no default or event of default (as defined in the Second A&R Credit Agreement) has occurred and is continuing, 50% of any portion of this annual limit, if not expended in the fiscal year for which it is permitted, may be carried over for expenditure in the next following fiscal year as stipulated by the agreement. On March 13, 2024, LFS, LHLLC, and other designated parties entered into a first amendment to the Second A&R Wintrust Credit Agreement (the “First Amendment to the Second A&R Wintrust Credit Agreement”) with the lenders party thereto and Wintrust, as administrative agent. The First Amendment to the Second A&R Wintrust Credit Agreement makes certain amendments to the Second A&R Wintrust Credit Agreement, including: (i) modifying the definition of “L/C Sublimit” to increase the sublimit for the issuance of letters of credit from $5.0 million to $10.0 million, (ii) removing the requirement to deliver a Borrowing Base Certificate if outstanding Revolving Loans and Letters of Credit (as such terms are defined in the Second A&R Wintrust Credit Agreement) do not exceed $30.0 million, and (iii) removing certain financial covenants that restrict the Company’s ability to make Unfinanced Capital Expenditures (as defined in the Second A&R Wintrust Credit Agreement). As of September 30, 2024 and December 31, 2023, the Company had $10.0 million in borrowings outstanding under the Second A&R Wintrust Revolving Loan. During the three and nine months ended September 30, 2024, the maximum outstanding borrowings under the Second A&R Wintrust Revolving Loan at any time was $10.0 million and the average daily balance was $10.0 million. For the three and nine months ended September 30, 2024, the Company incurred interest on the Second A&R Wintrust Revolving Loan at a weighted average annual interest rate of 5.72% for both periods, inclusive of the net impact associated with the Company's interest rate swap arrangement. During the three and nine months ended September 30, 2023, the maximum outstanding borrowings under either the Company's revolving loan arrangements at any time was $10.0 million during both periods and the average daily balance was approximately $10.0 million and $5.5 million, respectively. For the three and nine months ended September 30, 2023, the Company incurred interest on the Second A&R Wintrust Revolving Loan at a weighted average annual interest rate of 5.72% for both periods, inclusive of the net impact associated with the Company's interest rate swap arrangement. At September 30, 2024, the Company had irrevocable letters of credit in the amount of $4.3 million with its lender to secure obligations under its self-insurance program. The following is a summary of the applicable margin and commitment fees payable on the Second A&R Wintrust Revolving Loan credit commitment: Level Senior Leverage Ratio Applicable Margin for SOFR Revolver loans Applicable Margin for Applicable Margin for commitment fee I Greater than 1.00 to 1.00 3.10 % — % 0.25 % II Less than or equal to 1.00 to 1.00 2.60 % (0.50) % 0.25 % As of September 30, 2024, the Company was in compliance with all financial maintenance covenants as required by the Second A&R Credit Agreement. Sale-Leaseback Financing Transaction On September 29, 2022, LC LLC and Royal Oak Acquisitions, LLC (the “Purchaser”) consummated the purchase of the real property under a sale and leaseback transaction, with an aggregate value of approximately $7.8 million (a purchase price of approximately $5.4 million and $2.4 million in tenant improvement allowances), pursuant to a purchase agreement under which the Purchaser purchased from LC LLC the Company’s facility and real property in Pontiac, MI (collectively, the “Pontiac Facility”). In connection with the sale and leaseback transaction, LC LLC and Featherstone St Pontiac MI LLC (the “Landlord”) entered into a Lease Agreement (the “Lease Agreement”), dated September 29, 2022 (the “Lease Effective Date”) for the Pontiac Facility. Commencing on the Lease Effective Date, pursuant to the Lease Agreement, LC LLC has leased the Pontiac Facility, subject to the terms and conditions of the Lease Agreement. The Lease Agreement provides for a term of 25 years (the “Primary Term”). The Lease Agreement also provides LC LLC with the option to extend the Primary Term by two separate renewal terms of five years each (each a “Renewal Term”). Under the terms of the Lease Agreement, the Company’s annual minimum rent is $499,730, payable in monthly installments, subject to annual increases of approximately 2.5% each year under the Primary Term and for each year under the Renewal Terms, if exercised. LC LLC has a one-time option to terminate the Lease Agreement effective on the last day of the fifteenth lease year by providing written notice to the Landlord as more fully set forth in the Lease Agreement. The one-time termination option of the Lease Agreement would require LC LLC to pay to the Landlord a termination fee of approximately $1.7 million. Pursuant to the terms and conditions set forth in the Lease Agreement, the Landlord has agreed to provide LC LLC with a tenant improvement allowance in an amount up to $2.4 million. LC LLC is responsible for the initial capital outlay and completion of the agreed upon improvement work. The Landlord will subsequently reimburse LC LLC for such items up to the stated allowance amount. The Company accounted for the sale and leaseback arrangement as a financing transaction in accordance with ASC Topic 842, “ Leases ,” as the Lease Agreement was determined to be a finance lease. The Company concluded the Lease Agreement met the qualifications to be classified as a finance lease due to the significance of the present value of the lease payments, using an implicit rate of 11.11% to reflect the Company’s incremental borrowing rate associated with the $5.4 million purchase price as of the Lease Agreement date, compared to the fair value of the Pontiac Facility. The implicit rate associated with the aggregate purchase value, inclusive of tenant improvement allowances, was 6.53% as of the Lease Agreement date. The presence of a finance lease indicates that control of the Pontiac Facility has not transferred to the Purchaser and, as such, the transaction was deemed a failed sale-leaseback and must be accounted for as a financing arrangement. As a result of this determination, the Company is viewed as having received the sale proceeds from the Purchaser in the form of a hypothetical loan collateralized by its leased facilities. The hypothetical loan is payable as principal and interest in the form of “lease payments” to the Purchaser. Principal repayments are recorded as a reduction to the financing liability. The Company will not derecognize the Pontiac Facility from its books for accounting purposes until the lease ends. No gain or loss was recognized under GAAP related to the sale and leaseback arrangement. As of September 30, 2024, the financing liability was $5.0 million, net of issuance costs, which was recognized within long-term debt on the Company's condensed consolidated balance sheets. For the three and nine months ended September 30, 2024, approximately $0.1 million and $0.4 million of interest expense associated with the financing was recognized, respectively. For the three and nine months ended September 30, 2023, $0.1 million and $0.4 million of

Equity

Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Equity	Equity The Company’s second amended and restated certificate of incorporation currently authorizes the issuance of 100,000,000 shares of common stock, par value $0.0001, and 1,000,000 shares of preferred stock, par value $0.0001. Warrants In conjunction with the Company's initial public offering, the Company issued Public Warrants, Private Warrants and $15 Exercise Price Sponsor Warrants. The Company issued certain Merger Warrants and Additional Merger Warrants in conjunction with the Company's business combination with LHLLC in July 2016 (the “Business Combination”). On July 20, 2021, the Public Warrants, Private Warrants, and Additional Merger Warrants expired by their terms. During 2023, 600,000 warrants exercisable for one share of common stock at an exercise price of $15.00 per share (“$15 Exercise Price Sponsor Warrants”) and 606,476 warrants exercisable for one share of common stock at an exercise price of $12.50 per share (“Merger Warrants”) were exercised on a cashless basis by the holders of the warrants, which resulted in the warrants being converted into 167,564 and 274,742 shares of the Company's common stock, respectively. The remaining 23,167 unexercised Merger Warrants expired by their terms on July 20, 2023. Incentive Plan Upon the consummation of the Company's Business Combination, the Company adopted an omnibus incentive plan (the “Omnibus Incentive Plan”) pursuant to which equity awards may be granted thereunder. On March 29, 2023, the Board of Directors approved certain amendments to the Company's Omnibus Incentive Plan (the “2023 Amended and Restated Omnibus Incentive Plan”) to increase the number of shares of the Company's common stock that may be issued pursuant to awards by 450,000, for a total of 3,050,000 shares, and extended the term of the plan so that it will expire on the tenth anniversary of the date the stockholders approve the 2023 Amended and Restated Omnibus Incentive Plan. The amendments were acted upon by the Company's stockholders at the Annual Meeting held on June 22, 2023. See Note 14 for a discussion of the Company's management incentive plans for restricted stock units (“RSUs”) granted, vested, forfeited and remaining unvested. Share Repurchase Program In September 2022, the Company announced that its Board of Directors approved a share repurchase program (the “Share Repurchase Program”) to repurchase shares of its common stock for an aggregate purchase price not to exceed $2.0 million. The share repurchase authority was valid through September 29, 2023. Share repurchases may have been executed through various means, including, without limitation, open market transactions, privately negotiated transactions or by other means in accordance with federal securities laws. The Share Repurchase Program did not obligate the Company to acquire any particular amount of common stock, and the program may have been suspended or terminated by the Company at any time at its discretion without prior notice. Through September 29, 2023, the Company made share repurchases of approximately $2.0 million under its Share Repurchase Program. Employee Stock Purchase Plan Upon approval of the Company's stockholders on May 30, 2019, the Company adopted the Limbach Holdings, Inc. 2019 Employee Stock Purchase Plan (the “ESPP”). On January 1, 2020, the ESPP went into effect. The ESPP enables eligible employees, as defined by the ESPP, the right to purchase the Company's common stock through payroll deductions during consecutive subscription periods at a purchase price of 85% of the fair market value of a share of the Company's common stock at the end of each offering period. Annual purchases by participants are limited to the number of whole shares that can be purchased by an amount equal to ten percent of the participant's compensation or $5,000, whichever is less. Each offering period of the ESPP lasts six months, commencing on January 1 and July 1 of each year. The amounts collected from participants during a subscription period are used on the exercise date to purchase full shares of common stock. Participants may withdraw from an offering before the exercise date and obtain a refund of amounts withheld through payroll deductions. Compensation cost, representing the 15% discount applied to the fair market value of common stock, is recognized on a straight-line basis over the six-month vesting period during which employees perform related services. Under the ESPP, 500,000 shares are authorized to be issued. In January 2024 and July 2024, the Company issued 2,989 and 3,101 shares of its common stock, respectively, to participants in the ESPP who contributed to the plan during the offering period ending December 31, 2023 and June 30, 2024, respectively. In January 2023 and July 2023, the Company issued a total of 10,997 and 6,664 shares of its common stock, respectively, to participants in the ESPP who contributed to the plan during the offering period ending December 31, 2022 and June 30, 2023, respectively. As of September 30, 2024, 382,866 shares remain available for future issuance under the ESPP.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures the fair value of financial assets and liabilities in accordance with ASC Topic 820 – Fair Value Measurements and Disclosures , which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC Topic 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value and requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: • Level 1 — inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that are accessible at the measurement date; • Level 2 — inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities; and • Level 3 — unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company believes that the carrying amounts of its financial instruments, including cash and cash equivalents, trade accounts receivable and accounts payable, consist primarily of instruments without extended maturities, which approximate fair value primarily due to their short-term maturities and low risk of counterparty default. The Company considers all highly liquid investments purchased with a maturity of 90 days or less on the date of purchase to be cash equivalents. Cash equivalents as of September 30, 2024 consisted of overnight repurchase agreements in which cash from the Company's main operating checking account is invested overnight in highly liquid, short term investments and certain investments in money market funds sponsored by a large financial institution. Cash equivalents as of December 31, 2023 consisted of overnight repurchase agreements, short term investments, one U.S. Treasury Bill and certain investments in money market funds. For the three and nine months ending September 30, 2024, the Company recognized interest income in the aggregate of approximately $0.6 million and $1.7 million, respectively, associated with its overnight repurchase agreements, U.S. Treasury Bills and money market funds. For the three and nine months ending September 30, 2023, the Company recognized interest income in the aggregate of approximately $0.4 million and $0.6 million, respectively. The Company has not experienced any losses in its cash and cash equivalents and management believes the Company is not exposed to significant credit risk with respect to such accounts. Fair Value at Reporting Date Using (in thousands) September 30, 2024 Level 1 Level 2 Level 3 Cash equivalents: Overnight repurchase agreements $ 50,933 $ 50,933 $ — $ — Money market fund 4,000 4,000 — — Total $ 54,933 $ 54,933 $ — $ — December 31, 2023 Level 1 Level 2 Level 3 Cash equivalents: Overnight repurchase agreements $ 43,959 $ 43,959 $ — $ — U.S. Treasury Bills 10,000 10,000 — — Money market fund 3,750 3,750 — — Total $ 57,709 $ 57,709 $ — $ — Second A&R Wintrust Revolving Loan The Company also believes that the carrying value of the Second A&R Wintrust Revolving Loan approximates its respective fair value due to the variable rate on such debt. As of September 30, 2024, the Company determined that the fair value of the Second A&R Wintrust Revolving Loan was $10.0 million. Such fair value was determined using discounted estimated future cash flows using level 3 inputs. Earnout Payments As a part of the total consideration for the Jake Marshall Transaction, the former owners of JMLLC and CSLLC were eligible to receive up to an aggregate of $6.0 million in cash, consisting of two tranches of $3.0 million, as defined in the purchase agreement, if the gross profit of the acquired companies equals or exceeds $10.0 million in (i) the approximately 12-month period from closing through December 31, 2022 (the “2022 Jake Marshall Earnout Period”) or (ii) fiscal year 2023 (the “2023 Jake Marshall Earnout Period”), respectively (collectively, the “Jake Marshall Earnout Payments”). To the extent, however, that the gross profit of the acquired companies was less than $10.0 million, but exceeds $8.0 million, during any of the 2022 Jake Marshall Earnout Period or 2023 Jake Marshall Earnout Period, the $3.0 million amount was to be prorated for such period. The Company initially recognized $3.1 million in contingent consideration, of which the entire balance was included in other long-term liabilities in the Company’s condensed consolidated balance sheets on December 2, 2021. The fair value of contingent Jake Marshall Earnout Payments is based on generating growth rates on the projected gross margins of the acquired entities and calculating the associated contingent payments based on achieving the earnout targets, which are reassessed each reporting period. In April 2023 and 2024, the Company made two separate payments in the amount of $3.0 million to the former owners of JMLLC and CSLLC related to the 2022 Jake Marshall Earnout Period and the 2023 Jake Marshall Earnout Period, respectively. As a part of the total consideration for the ACME Transaction, the Company recognized $1.5 million in contingent consideration on the ACME Effective Date. The fair value of contingent ACME Earnout Payments is based on generating growth rates on the projected gross margins of ACME and calculating the associated contingent payments based on achieving the earnout targets, which are reassessed each reporting period. The Company determined the initial fair value of the ACME Earnout Payments based on the Monte Carlo Simulation method, which represented a Level 3 measurement. As of the ACME Effective Date, the ACME Earnout Payments associated with the ACME Transaction were valued utilizing discount rates between 12.96% and 21.64%. The discount rates were calculated using the build-up method with a risk-free rate commensurate with the term of the ACME Earnout Payments based on the U.S. Treasury Constant Maturity Yield and certain metric risk premiums determined with reference to a long-term risk free rate, a weighted average cost of capital and certain adjustments for operational leverage. In September 2024, the Company made a payment in the amount of $0.5 million to the former owner of ACME related to the First ACME Earnout Period. As a part of the total consideration for the Industrial Air Transaction, the Company recognized $3.2 million in contingent consideration on the IA Effective Date. The fair value of contingent IA Earnout Payments is based on generating growth rates on the projected gross margins of Industrial Air and calculating the associated contingent payments based on achieving the earnout targets, which are reassessed each reporting period. The Company determined the initial fair value of the IA Earnout Payments based on the Monte Carlo Simulation method, which represented a Level 3 measurement. As of the IA Effective Date, the IA Earnout Payments associated with the Industrial Air Transaction were valued utilizing a discount rate of 13.68%. The discount rate was calculated using the build-up method with a risk-free rate commensurate with the term of the IA Earnout Payments based on the U.S. Treasury Constant Maturity Yield and certain metric risk premiums determined with reference to a long-term risk free rate, a weighted average cost of capital and certain adjustments for operational leverage. As a part of the total consideration for the Kent Island Transaction, the Company recognized $4.4 million in contingent consideration on the Kent Island Effective Date. The fair value of contingent Kent Island Earnout Payments is based on generating growth rates on the projected gross margins of Kent Island and calculating the associated contingent payments based on achieving the earnout targets, which are reassessed each reporting period. The Company determined the initial fair value of the Kent Island Earnout Payments based on the Monte Carlo Simulation method, which represented a Level 3 measurement. As of the Kent Island Effective Date, the Kent Island Earnout Payments associated with the Kent Island Transaction were valued utilizing a discount rate of 14.9%. The discount rate was calculated using the build-up method with a risk-free rate commensurate with the term of the Kent Island Earnout Payments based on the U.S. Treasury Constant Maturity Yield and certain metric risk premiums determined with reference to a long-term risk free rate, a weighted average cost of capital and certain adjustments for operational leverage. Based on the Company’s ongoing assessment of the fair value of contingent earnout liabilities, the Company recorded a net increase in the estimated fair value of such liabilities of $0.6 million and $2.3 million for the three and nine months ended September 30, 2024, respectively, which was presented in the change in fair value of contingent consideration in the Company's condensed consolidated statements of operations. For the three and nine months ended September 30, 2023, the Company recorded a net increase in the estimated fair value of such liabilities of $0.1 million and $0.5 million, respectively. The Company determined the fair value of the earnout payments by utilizing the Monte Carlo Simulation method, which represents a Level 3 measurement. The following table presents the carrying values of the Company's contingent earnout payment obligations included in the accompanying condensed consolidated balance sheets, which approximated fair value at September 30, 2024 and December 31, 2023. Fair Value at Reporting Date Using (in thousands) September 30, 2024 Level 1 Level 2 Level 3 Accrued expenses and other current liabilities: First IA Earnout Period $ 2,962 $ — $ — $ 2,962 First Kent Island Earnout Period 2,230 — — 2,230 Second ACME Earnout Period 1,567 — — 1,567 Other long-term liabilities: Second IA Earnout Period 2,098 — — 2,098 Second Kent Island Earnout Period 2,151 — — 2,151 Total $ 11,008 $ — $ — $ 11,008 Fair Value at Reporting Date Using December 31, 2023 Level 1 Level 2 Level 3 Accrued expenses and other current liabilities: 2023 Jake Marshall Earnout Period (1) $ 3,000 $ — $ — $ 3,000 First ACME Earnout Period 429 — — 429 First IA Earnout Period 2,290 — $ — 2,290 Other long-term liabilities: Second ACME Earnout Period 1,188 — — 1,188 Second IA Earnout Period 875 — — 875 Total $ 7,782 $ — $ — $ 7,782 (1) In April 2024, the Company made a $3.0 million payment to the former owners of JMLLC and CSLLC related to the 2023 Jake Marshall Earnout Period. Interest Rate Swap The fair value of the interest rate swap is determined using widely accepted valuation techniques and reflects the contractual terms of the interest rate swap including the period to maturity, and while there are no quoted prices in active markets, it uses observable market-based inputs, including interest rate curves and implied volatilities. The fair value analysis also considers a credit valuation adjustment to reflect nonperformance risk of both the Company and the single counterparty. The fair value of the interest rate contract has been determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The interest rate swap is classified as a Level 2 item within the fair value hierarchy. As of September 30, 2024, the Company determined that the fair value of the interest rate swap was approximately $0.1 million and is recognized in other assets on the Company's condensed consolidated balance sheets. For the three and nine months ended September 30, 2024, the Company recognized a loss of $0.3 million and $0.1 million, respectively, on its condensed consolidated statements of operations associated with the change in fair value of the interest rate swap arrangement. For the three and nine months ended September 30, 2023, the Company recognized a gain of approximately $0.1 million and $0.2 million, respectively, on its condensed consolidated statements of operations associated with the change in fair value of the interest rate swap arrangement.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Earnings per Share The Company calculates earnings per share in accordance with ASC Topic 260 - Earnings Per Share (“EPS”) . Basic earnings per share of the Company's common stock applicable to common stockholders is computed by dividing earnings applicable to common stockholders by the weighted-average number of shares of the Company's common stock outstanding and assumed to be outstanding. Diluted EPS assumes the dilutive effect of outstanding common stock warrants, shares issued in conjunction with the Company’s ESPP and RSUs, all using the treasury stock method. The following table sets forth the computation of the basic and diluted earnings per share attributable to the Company's common stockholders for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 EPS numerator: Net income $ 7,484 $ 7,192 $ 21,033 $ 15,505 EPS denominator: Weighted average shares outstanding – basic 11,273 10,963 11,234 10,696 Impact of dilutive securities 754 826 765 976 Weighted average shares outstanding – diluted 12,027 11,789 11,999 11,672 EPS: Basic $ 0.66 $ 0.66 $ 1.87 $ 1.45 Diluted $ 0.62 $ 0.61 $ 1.75 $ 1.33 The following table summarizes the securities that were antidilutive or out-of-the-money, and therefore, were not included in the computations of diluted income per share of the Company's common stock: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Service-based RSUs (See Note 14) — — 64 49 Performance based RSUs — — 131 153 Employee Stock Purchase Plan 319 33 313 1,114 Total 319 33 508 1,316

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is taxed as a C corporation. For interim periods, the provision for income taxes (including federal, state, local and foreign taxes) is calculated based on the estimated annual effective tax rate, adjusted for certain discrete items for the full fiscal year. Cumulative adjustments to the Company's estimate are recorded in the interim period in which a change in the estimated annual effective rate is determined. Each quarter the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company makes a cumulative adjustment. The following table presents our income tax provision and our income tax rate for the three and nine months ended September 30, 2024 and 2023. Three Months Ended Nine Months Ended (in thousands, except percentages) 2024 2023 2024 2023 Income tax provision $ 3,394 $ 2,760 $ 5,462 $ 5,407 Income tax rate 31.2 % 27.7 % 20.6 % 25.9 % The U.S. federal statutory tax rate was 21% for each of the three and nine months ended September 30, 2024 and 2023. The difference between the U.S. federal statutory tax rate and the Company’s effective tax rate period-over-period was primarily due to state income taxes, tax credits, other permanent adjustments and discrete tax items. In particular, the Company’s effective rate for the nine months ended September 30, 2024 and 2023 were materially impacted by “excess tax benefits on stock-based compensation” recognized discretely during the first quarter of each year. This benefit reduced the effective tax rate by 35.1% and 10.2% for the three months ended March 31, 2024 and 2023 respectively, with the impact varying in prior years. The increase in the 2024 effective rate reduction is primarily related to the higher stock price of the Company resulting in increased tax deductions for the Company upon vesting of its equity incentive awards. No valuation allowance was required as of September 30, 2024 or December 31, 2023.

Operating Segments

Operating Segments	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Operating Segments	Operating Segments As discussed in Note 1, the Company operates in two segments, (i) ODR, in which the Company provides maintenance or service primarily on mechanical, plumbing or electrical systems, building controls and specialty contracting projects direct to, or assigned by, building owners or property managers, and (ii) GCR, in which the Company generally manages new construction or renovation projects that involve primarily mechanical, plumbing, or electrical services awarded to the Company by general contractors or construction managers. These segments are reflective of how the Company’s Chief Operating Decision Maker (“CODM”) reviews operating results for the purposes of allocating resources and assessing performance. The Company's CODM is comprised of its President and Chief Executive Officer and Executive Vice President and Chief Financial Officer. In accordance with ASC Topic 280 – Segment Reporting , the Company has elected to aggregate all of the ODR work performed at branches into one ODR reportable segment and all of the GCR work performed at branches into one GCR reportable segment. All transactions between segments are eliminated in consolidation. All of the Company’s identifiable assets are located in the United States, which is where the Company is domiciled. Condensed consolidated segment information for the three and nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Statement of Operations Data: Revenue: ODR $ 93,007 $ 65,832 $ 250,017 $ 183,330 GCR 40,913 61,936 125,114 190,329 Total revenue 133,920 127,768 375,131 373,659 Gross profit: ODR 29,647 19,274 77,170 52,424 GCR 6,467 11,970 23,540 33,560 Total gross profit 36,114 31,244 100,710 85,984 Selling, general and administrative (1) 23,748 20,967 69,800 62,433 Change in fair value of contingent consideration 610 161 2,344 464 Amortization of intangibles 868 288 2,956 1,054 Operating income $ 10,888 $ 9,828 $ 25,610 $ 22,033 Other (expenses) income: Interest expense (468) (437) (1,375) (1,615) Interest income 626 377 1,734 624 Gain on disposition of property and equipment 99 68 656 28 Loss on early debt extinguishment — — — (311) (Loss) gain on change in fair value of interest rate swap (267) 116 (130) 153 Total other (expenses) income (10) 124 885 (1,121) Income before income taxes $ 10,878 $ 9,952 $ 26,495 $ 20,912 (1) Included within selling, general and administrative expenses was $1.6 million and $1.1 million of stock-based compensation expense for the three months ended September 30, 2024 and 2023, respectively, and $4.3 million and $3.4 million for the nine months ended September 30, 2024 and 2023, respectively.

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases The Company leases real estate, trucks and other equipment. The determination of whether an arrangement is, or contains, a lease is performed at the inception of the arrangement. Classification and initial measurement of the right-of-use asset and lease liability are determined at the lease commencement date. The Company elected the short-term lease measurement and recognition exemption; therefore, leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheets. Instead, the short-term leases are recognized in expense on a straight-line basis over the lease term. The Company's arrangements include certain non-lease components such as common area and other maintenance for leased real estate, as well as mileage, fuel and maintenance costs related to leased vehicles. For all leased asset classes, the Company has elected to not separate non-lease components from lease components and will account for each separate lease component and non-lease component associated with the lease as a single lease component. The Company does not guarantee any residual value in its lease agreements, and there are no material restrictions or covenants imposed by lease arrangements. Real estate leases typically include one or more options to extend the lease. The Company regularly evaluates the renewal options, and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term. For the Company's leased vehicles, the Company uses the interest rate implicit in its leases with the lessor to discount lease payments at the lease commencement date. When the implicit rate is not readily available, as is the case with the Company's real estate leases, the Company uses quoted borrowing rates on its secured debt. Related Party Lease Agreements. In conjunction with the closing of the Jake Marshall Transaction, the Company entered into an operating lease for certain land and facilities owned by a former member of JMLLC who became a full-time employee of the Company. The lease term is 10 years and includes an option to extend the lease for two successive periods of two years each through November 2035. Base rent for the term of the lease is $37,500 per month for the first five years with payment commencing on January 1, 2022. The fixed rent payment is escalated to $45,000 per month for years 6 through 10 of the lease term. Fixed rent payments for the extension term are increased from $45,000 by the percentage increase, if any, in the consumer price index from the lease commencement date. In addition, under the agreement, the Company is required to pay its share of estimated property taxes and operating expenses, both of which are variable lease expenses. In conjunction with the closing of the ACME Transaction, the Company entered into an operating lease for certain land and facilities owned by a former member of ACME who became a full-time employee of the Company. The lease term of the lease runs through December 31, 2024 and includes an option to extend the lease for one successive period of one year through December 2025. Base rent for the term of the lease is $17,000 per month for the first six months with payment commencing on July 1, 2023. The fixed rent payment is escalated to $18,000 per month for the twelve-month period ending December 31, 2024. Fixed rent payments for the extension term are increased to $19,000. In addition, under the agreement, the Company is required to pay its share of estimated property taxes and operating expenses, both of which are variable lease expenses. In conjunction with the closing of the Industrial Air Transaction, the Company entered into an operating lease for certain land and facilities owned by a former member of Industrial Air who became a full-time employee of the Company. The lease term of the lease runs through August 31, 2026 and includes an option to extend the lease for two successive periods of three years each through August 2032. Base rent for the term of the lease is $26,500 per month for the first thirty-three months with payment commencing on November 1, 2023. The fixed rent payment is escalated to $27,563 per month for the first three-year extension period ending August 31, 2029 and to $28,941 per month for the second three year extension period ending on August 31, 2032. In addition, under the agreement, the Company is required to pay its share of estimated property taxes and operating expenses, both of which are variable lease expenses. Southern California Sublease . In June, 2021, the Company entered into a sublease agreement with a third party for the entire ground floor of its leased space in Southern California, consisting of 71,787 square feet. Under the terms of the sublease agreement, the sublessee is obligated to pay the Company base rent of approximately $0.6 million per year, which is subject to a 3.0% annual rent increase, plus certain operating expenses and other costs. The initial lease term commenced in September 2021 and continues through April 30, 2027. As of September 30, 2024, the Company remains obligated under the original lease for such office space and, in the event the sublessee of such office space fails to satisfy its obligations under the sublease, the Company would be required to satisfy its obligations directly to the landlord under such original lease. In addition, during the first quarter of 2022, the Company entered into an amendment to the aforementioned sublease agreement, which, among other things, expanded the sublease premises to include the entire second floor of its leased space in Southern California, consisting of 16,720 square feet. Under the terms of the amended sublease agreement, the sublessee is obligated to pay the Company base rent of approximately $0.8 million per year, which is subject to a 3.0% annual rent increase, plus certain operating expenses and other costs. The amended sublease term commenced in March 2022 and continues through April 30, 2027. For the three and nine months ended September 30, 2024, the Company recorded approximately $0.3 million and $0.9 million, respectively, of income in selling, general and administrative expenses related to this sublease agreement. For the three and nine months ended September 30, 2023, the Company recorded approximately $0.3 million and $0.5 million, respectively, of income in selling, general and administrative expenses related to this sublease agreement. The following table summarizes the lease amounts included in the Company's condensed consolidated balance sheets: (in thousands) Classification on the Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 Assets Operating Operating lease right-of-use assets (1)(2) $ 22,312 $ 19,727 Finance Property and equipment, net (3)(4) 10,279 9,561 Total lease assets $ 32,591 $ 29,288 Liabilities Current Operating Current operating lease liabilities $ 3,964 $ 3,627 Finance Current portion of long-term debt 2,626 2,680 Noncurrent Operating Long-term operating lease liabilities 18,569 16,037 Finance Long-term debt (5) 10,871 10,018 Total lease liabilities $ 36,030 $ 32,362 (1) Operating lease assets are recorded net of accumulated amortization of $13.0 million at September 30, 2024 and $13.6 million at December 31, 2023. (2) Includes approximately $0.9 million and $1.0 million at September 30, 2024 and December 31, 2023, respectively, related to a below-market lease recognized as a result of the Industrial Air Transaction, which was recorded as an increase to the Company’s operating lease right-of-use assets on its condensed consolidated balance sheet. The below-market lease will be amortized to amortization expense over the remaining lease term. (3) Finance lease vehicle assets are recorded net of accumulated amortization of $5.7 million at September 30, 2024 and $4.5 million at December 31, 2023. (4) Includes approximately $2.4 million of net property assets associated with the Company's Pontiac Facility at both September 30, 2024 and December 31, 2023, respectively. (5) Includes approximately $5.4 million associated with the Company's sale and leaseback financing transaction at both September 30, 2024 and December 31, 2023. See Note 6 for further detail. The following table summarizes the lease costs included in the Company's condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended (in thousands) Classification on the Condensed Consolidated Statement of Operations 2024 2023 2024 2023 Operating lease cost Cost of revenue (1) $ 785 $ 543 $ 2,116 $ 1,626 Operating lease cost Selling, general and administrative (1) 523 635 1,848 1,892 Finance lease cost Amortization Cost of revenue (2) 816 714 2,310 2,012 Interest Interest expense, net (2) 128 113 363 265 Total lease cost $ 2,252 $ 2,005 $ 6,637 $ 5,795 (1) Operating lease costs recorded in cost of revenue included $0.2 million and $0.1 million of variable lease costs for the three months ended September 30, 2024 and 2023, and $0.4 million and $0.3 million for the nine months ended September 30, 2024 and 2023. In addition, $0.1 million and $0.2 million of variable lease costs are included in selling, general and administrative for the three months ended September 30, 2024 and 2023, respectively, and $0.3 million and $0.4 million for each of the nine months ended September 30, 2024 and 2023, respectively. These variable costs consist of the Company's proportionate share of operating expenses, real estate taxes and utilities. (2) Finance lease costs recorded in cost of revenue include variable lease costs of $1.0 million and $0.9 million for the three months ended September 30, 2024 and 2023, respectively, and $3.0 million and $2.7 million for the nine months ended September 30, 2024 and 2023, respectively. These variable lease costs consist of fuel, maintenance, and sales tax charges. The future undiscounted minimum finance lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s condensed consolidated balance sheets within current and long-term debt, less interest, and under current and long-term operating leases, less imputed interest, as of September 30, 2024 were as follows (in thousands): Finance Lease Obligations Operating Lease Obligations Year ending: Vehicles Pontiac Facility Total Finance Non-Related Party Related Party (1) Total Operating Sublease Receipts (2) Remainder of 2024 $ 803 $ 131 $ 934 $ 1,035 $ 245 $ 1,280 $ 231 2025 2,916 528 3,444 4,397 765 5,162 939 2026 2,399 542 2,941 4,480 770 5,250 967 2027 1,448 555 2,003 3,389 871 4,260 326 2028 720 569 1,289 2,457 871 3,328 — Thereafter 411 13,733 14,144 2,542 4,997 7,539 — Total minimum lease payments 8,697 16,058 24,755 18,300 8,519 26,819 $ 2,463 Financing Component (3) (551) (10,707) (11,258) (2,386) (1,900) (4,286) Net present value of minimum lease payments 8,146 5,351 13,497 15,914 6,619 22,533 Less: current portion of finance and operating lease obligations (2,626) — (2,626) (3,483) (481) (3,964) Long-term finance and operating lease obligations $ 5,520 $ 5,351 $ 10,871 $ 12,431 $ 6,138 $ 18,569 (1) Associated with the aforementioned related party leases entered into with former members of JMLLC, ACME and Industrial Air. (2) Associated with the aforementioned third party sublease. (3) The financing component for finance lease obligations represents the interest component of finance leases that will be recognized as interest expense in future periods. The financing component for operating lease obligations represents the effect of discounting the lease payments to their present value. The following is a summary of the lease terms and discount rates as of: September 30, 2024 December 31, 2023 Weighted average lease term (in years): Operating 6.10 6.54 Finance (1) 3.39 3.10 Weighted average discount rate: Operating 5.94 % 6.74 % Finance (1) 6.40 % 5.33 % (1) Excludes the weighted average lease term and weighted average discount rate associated with the aforementioned sale-leaseback financing transaction, which has a Primary Term of 25 years and utilized an implicit rate of 11.11%. See Note 6 for further detail. The following is a summary of other information and supplemental cash flow information related to finance and operating leases: Nine months ended September 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,778 $ 3,478 Operating cash flows from finance leases 361 227 Financing cash flows from finance leases 2,179 2,032 Right-of-use assets exchanged for lease liabilities: Operating leases 4,776 1,043 Finance leases 3,095 4,062 Right-of-use assets disposed or adjusted modifying operating leases liabilities 988 (643) Right-of-use assets disposed or adjusted modifying finance leases liabilities — (77)
Leases	Leases The Company leases real estate, trucks and other equipment. The determination of whether an arrangement is, or contains, a lease is performed at the inception of the arrangement. Classification and initial measurement of the right-of-use asset and lease liability are determined at the lease commencement date. The Company elected the short-term lease measurement and recognition exemption; therefore, leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheets. Instead, the short-term leases are recognized in expense on a straight-line basis over the lease term. The Company's arrangements include certain non-lease components such as common area and other maintenance for leased real estate, as well as mileage, fuel and maintenance costs related to leased vehicles. For all leased asset classes, the Company has elected to not separate non-lease components from lease components and will account for each separate lease component and non-lease component associated with the lease as a single lease component. The Company does not guarantee any residual value in its lease agreements, and there are no material restrictions or covenants imposed by lease arrangements. Real estate leases typically include one or more options to extend the lease. The Company regularly evaluates the renewal options, and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term. For the Company's leased vehicles, the Company uses the interest rate implicit in its leases with the lessor to discount lease payments at the lease commencement date. When the implicit rate is not readily available, as is the case with the Company's real estate leases, the Company uses quoted borrowing rates on its secured debt. Related Party Lease Agreements. In conjunction with the closing of the Jake Marshall Transaction, the Company entered into an operating lease for certain land and facilities owned by a former member of JMLLC who became a full-time employee of the Company. The lease term is 10 years and includes an option to extend the lease for two successive periods of two years each through November 2035. Base rent for the term of the lease is $37,500 per month for the first five years with payment commencing on January 1, 2022. The fixed rent payment is escalated to $45,000 per month for years 6 through 10 of the lease term. Fixed rent payments for the extension term are increased from $45,000 by the percentage increase, if any, in the consumer price index from the lease commencement date. In addition, under the agreement, the Company is required to pay its share of estimated property taxes and operating expenses, both of which are variable lease expenses. In conjunction with the closing of the ACME Transaction, the Company entered into an operating lease for certain land and facilities owned by a former member of ACME who became a full-time employee of the Company. The lease term of the lease runs through December 31, 2024 and includes an option to extend the lease for one successive period of one year through December 2025. Base rent for the term of the lease is $17,000 per month for the first six months with payment commencing on July 1, 2023. The fixed rent payment is escalated to $18,000 per month for the twelve-month period ending December 31, 2024. Fixed rent payments for the extension term are increased to $19,000. In addition, under the agreement, the Company is required to pay its share of estimated property taxes and operating expenses, both of which are variable lease expenses. In conjunction with the closing of the Industrial Air Transaction, the Company entered into an operating lease for certain land and facilities owned by a former member of Industrial Air who became a full-time employee of the Company. The lease term of the lease runs through August 31, 2026 and includes an option to extend the lease for two successive periods of three years each through August 2032. Base rent for the term of the lease is $26,500 per month for the first thirty-three months with payment commencing on November 1, 2023. The fixed rent payment is escalated to $27,563 per month for the first three-year extension period ending August 31, 2029 and to $28,941 per month for the second three year extension period ending on August 31, 2032. In addition, under the agreement, the Company is required to pay its share of estimated property taxes and operating expenses, both of which are variable lease expenses. Southern California Sublease . In June, 2021, the Company entered into a sublease agreement with a third party for the entire ground floor of its leased space in Southern California, consisting of 71,787 square feet. Under the terms of the sublease agreement, the sublessee is obligated to pay the Company base rent of approximately $0.6 million per year, which is subject to a 3.0% annual rent increase, plus certain operating expenses and other costs. The initial lease term commenced in September 2021 and continues through April 30, 2027. As of September 30, 2024, the Company remains obligated under the original lease for such office space and, in the event the sublessee of such office space fails to satisfy its obligations under the sublease, the Company would be required to satisfy its obligations directly to the landlord under such original lease. In addition, during the first quarter of 2022, the Company entered into an amendment to the aforementioned sublease agreement, which, among other things, expanded the sublease premises to include the entire second floor of its leased space in Southern California, consisting of 16,720 square feet. Under the terms of the amended sublease agreement, the sublessee is obligated to pay the Company base rent of approximately $0.8 million per year, which is subject to a 3.0% annual rent increase, plus certain operating expenses and other costs. The amended sublease term commenced in March 2022 and continues through April 30, 2027. For the three and nine months ended September 30, 2024, the Company recorded approximately $0.3 million and $0.9 million, respectively, of income in selling, general and administrative expenses related to this sublease agreement. For the three and nine months ended September 30, 2023, the Company recorded approximately $0.3 million and $0.5 million, respectively, of income in selling, general and administrative expenses related to this sublease agreement. The following table summarizes the lease amounts included in the Company's condensed consolidated balance sheets: (in thousands) Classification on the Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 Assets Operating Operating lease right-of-use assets (1)(2) $ 22,312 $ 19,727 Finance Property and equipment, net (3)(4) 10,279 9,561 Total lease assets $ 32,591 $ 29,288 Liabilities Current Operating Current operating lease liabilities $ 3,964 $ 3,627 Finance Current portion of long-term debt 2,626 2,680 Noncurrent Operating Long-term operating lease liabilities 18,569 16,037 Finance Long-term debt (5) 10,871 10,018 Total lease liabilities $ 36,030 $ 32,362 (1) Operating lease assets are recorded net of accumulated amortization of $13.0 million at September 30, 2024 and $13.6 million at December 31, 2023. (2) Includes approximately $0.9 million and $1.0 million at September 30, 2024 and December 31, 2023, respectively, related to a below-market lease recognized as a result of the Industrial Air Transaction, which was recorded as an increase to the Company’s operating lease right-of-use assets on its condensed consolidated balance sheet. The below-market lease will be amortized to amortization expense over the remaining lease term. (3) Finance lease vehicle assets are recorded net of accumulated amortization of $5.7 million at September 30, 2024 and $4.5 million at December 31, 2023. (4) Includes approximately $2.4 million of net property assets associated with the Company's Pontiac Facility at both September 30, 2024 and December 31, 2023, respectively. (5) Includes approximately $5.4 million associated with the Company's sale and leaseback financing transaction at both September 30, 2024 and December 31, 2023. See Note 6 for further detail. The following table summarizes the lease costs included in the Company's condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended (in thousands) Classification on the Condensed Consolidated Statement of Operations 2024 2023 2024 2023 Operating lease cost Cost of revenue (1) $ 785 $ 543 $ 2,116 $ 1,626 Operating lease cost Selling, general and administrative (1) 523 635 1,848 1,892 Finance lease cost Amortization Cost of revenue (2) 816 714 2,310 2,012 Interest Interest expense, net (2) 128 113 363 265 Total lease cost $ 2,252 $ 2,005 $ 6,637 $ 5,795 (1) Operating lease costs recorded in cost of revenue included $0.2 million and $0.1 million of variable lease costs for the three months ended September 30, 2024 and 2023, and $0.4 million and $0.3 million for the nine months ended September 30, 2024 and 2023. In addition, $0.1 million and $0.2 million of variable lease costs are included in selling, general and administrative for the three months ended September 30, 2024 and 2023, respectively, and $0.3 million and $0.4 million for each of the nine months ended September 30, 2024 and 2023, respectively. These variable costs consist of the Company's proportionate share of operating expenses, real estate taxes and utilities. (2) Finance lease costs recorded in cost of revenue include variable lease costs of $1.0 million and $0.9 million for the three months ended September 30, 2024 and 2023, respectively, and $3.0 million and $2.7 million for the nine months ended September 30, 2024 and 2023, respectively. These variable lease costs consist of fuel, maintenance, and sales tax charges. The future undiscounted minimum finance lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s condensed consolidated balance sheets within current and long-term debt, less interest, and under current and long-term operating leases, less imputed interest, as of September 30, 2024 were as follows (in thousands): Finance Lease Obligations Operating Lease Obligations Year ending: Vehicles Pontiac Facility Total Finance Non-Related Party Related Party (1) Total Operating Sublease Receipts (2) Remainder of 2024 $ 803 $ 131 $ 934 $ 1,035 $ 245 $ 1,280 $ 231 2025 2,916 528 3,444 4,397 765 5,162 939 2026 2,399 542 2,941 4,480 770 5,250 967 2027 1,448 555 2,003 3,389 871 4,260 326 2028 720 569 1,289 2,457 871 3,328 — Thereafter 411 13,733 14,144 2,542 4,997 7,539 — Total minimum lease payments 8,697 16,058 24,755 18,300 8,519 26,819 $ 2,463 Financing Component (3) (551) (10,707) (11,258) (2,386) (1,900) (4,286) Net present value of minimum lease payments 8,146 5,351 13,497 15,914 6,619 22,533 Less: current portion of finance and operating lease obligations (2,626) — (2,626) (3,483) (481) (3,964) Long-term finance and operating lease obligations $ 5,520 $ 5,351 $ 10,871 $ 12,431 $ 6,138 $ 18,569 (1) Associated with the aforementioned related party leases entered into with former members of JMLLC, ACME and Industrial Air. (2) Associated with the aforementioned third party sublease. (3) The financing component for finance lease obligations represents the interest component of finance leases that will be recognized as interest expense in future periods. The financing component for operating lease obligations represents the effect of discounting the lease payments to their present value. The following is a summary of the lease terms and discount rates as of: September 30, 2024 December 31, 2023 Weighted average lease term (in years): Operating 6.10 6.54 Finance (1) 3.39 3.10 Weighted average discount rate: Operating 5.94 % 6.74 % Finance (1) 6.40 % 5.33 % (1) Excludes the weighted average lease term and weighted average discount rate associated with the aforementioned sale-leaseback financing transaction, which has a Primary Term of 25 years and utilized an implicit rate of 11.11%. See Note 6 for further detail. The following is a summary of other information and supplemental cash flow information related to finance and operating leases: Nine months ended September 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,778 $ 3,478 Operating cash flows from finance leases 361 227 Financing cash flows from finance leases 2,179 2,032 Right-of-use assets exchanged for lease liabilities: Operating leases 4,776 1,043 Finance leases 3,095 4,062 Right-of-use assets disposed or adjusted modifying operating leases liabilities 988 (643) Right-of-use assets disposed or adjusted modifying finance leases liabilities — (77)

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal. The Company is continually engaged in administrative proceedings, arbitrations, and litigation with owners, general contractors, suppliers, employees, former employees and other unrelated parties, all arising in the ordinary courses of business. The ultimate resolution of these contingencies could, individually or in the aggregate, be material to the condensed consolidated financial statements. In the opinion of the Company’s management, the current belief is that the results of these actions will not have a material adverse effect on the financial position, results of operations, or cash flows of the Company. Surety. The terms of its construction contracts frequently require that the Company obtain from surety companies, and provide to its customers, payment and performance bonds (“Surety Bonds”) as a condition to the award of such contracts. The Surety Bonds secure the Company's payment and performance obligations under such contracts, and the Company has agreed to indemnify the surety companies for amounts, if any, paid by them in respect of Surety Bonds issued on its behalf. In addition, at the request of labor unions representing certain of the Company's employees, Surety Bonds are sometimes provided to secure obligations for wages and benefits payable to or for such employees. Public sector contracts require Surety Bonds more frequently than private sector contracts, and accordingly, the Company's bonding requirements typically increase as the amount of public sector work increases. As of September 30, 2024, the Company had approximately $62.8 million in surety bonds outstanding. The Surety Bonds are issued by surety companies in return for premiums, which vary depending on the size and type of bond. Collective Bargaining Agreements. Many of the Company’s craft labor employees are covered by collective bargaining agreements. The agreements require the Company to pay specified wages, provide certain benefits and contribute certain amounts to multi-employer pension plans. If the Company withdraws from any of the multi-employer pension plans or if the plans were to otherwise become underfunded, the Company could incur additional liabilities related to these plans. Although the Company has been informed that some of the multi-employer pension plans to which it contributes have been classified as “critical” status, the Company is not currently aware of any significant liabilities related to this issue. Self-insurance . The Company is substantially self-insured for workers’ compensation and general liability claims, in the view of the relatively high per-incident deductibles the Company absorbs under its insurance arrangements for these risks. The Company purchases workers’ compensation and general liability insurance under policies with per-incident deductibles of $250,000 per occurrence and a $3.9 million maximum aggregate deductible loss limit per year. Losses incurred over primary policy limits are covered by umbrella and excess policies up to specified limits with multiple excess insurers. The Company accrues for the unfunded portion of costs for both reported claims and claims incurred but not reported. The liability for unfunded reported claims and future claims is reflected on the consolidated balance sheets as current and non-current liabilities. The liability is determined by establishing a reserve for each reported claim on a case-by-case basis based on the nature of the claim and historical loss experience for similar claims plus an allowance for the cost of incurred but not reported claims. The current portion of the liability is included in accrued expenses and other current liabilities on the consolidated balance sheets. The non-current portion of the liability is included in other long-term liabilities on the consolidated balance sheets. The Company is self-insured related to medical and dental claims under policies with annual per-claimant and annual aggregate stop-loss limits. The Company accrues for the unfunded portion of costs for both reported claims and claims incurred but not reported. The liability for unfunded reported claims and future claims is reflected on the consolidated balance sheets as a current liability in accrued expenses and other current liabilities. The components of the self-insurance liability as of September 30, 2024 and December 31, 2023 are as follows: (in thousands) September 30, December 31, Current liability — workers’ compensation and general liability $ 209 $ 188 Current liability — medical and dental 556 819 Non-current liability 699 645 Total liability $ 1,464 $ 1,652 Restricted cash $ 65 $ 65 The restricted cash balance represents an imprest cash balance set aside for the funding of workers' compensation and general liability insurance claims. This amount is replenished either when depleted or at the beginning of each month.

Management Incentive Plans

Management Incentive Plans	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Management Incentive Plans	Management Incentive Plans The Company initially adopted the Omnibus Incentive Plan on July 20, 2016 for the purpose of: (a) encouraging the profitability and growth of the Company through short-term and long-term incentives that are consistent with the Company’s objectives; (b) giving participants an incentive for excellence in individual performance; (c) promoting teamwork among participants; and (d) giving the Company a significant advantage in attracting and retaining key employees, directors and consultants. To accomplish such purposes, the Omnibus Incentive Plan, and such subsequent amendments to the Omnibus Incentive Plan, provides that the Company may grant options, stock appreciation rights, restricted shares, RSUs, performance-based awards (including performance-based restricted shares and restricted stock units), other share-based awards, other cash-based awards or any combination of the foregoing. Following the approval of the 2023 Amended and Restated Omnibus Incentive Plan, the Company has reserved 3,050,000 shares of its common stock for issuance. The number of shares issued or reserved pursuant to the Omnibus Incentive Plan will be adjusted by the plan administrator, as they deem appropriate and equitable, as a result of stock splits, stock dividends, and similar changes in the Company’s common stock. In connection with the grant of an award, the plan administrator may provide for the treatment of such award in the event of a change in control. All awards are made in the form of shares only. Service-Based Awards The Company grants service-based stock awards in the form of RSUs. Service-based RSUs granted to executives, employees, and non-employee directors vest ratably, on an annual basis, over three years and in the case of certain awards to non-employee directors, over one year. The grant date fair value of the service-based awards was equal to the closing market price of the Company’s common stock on the date of grant. For both the three months ended September 30, 2024 and 2023, the Company recognized $0.5 million of stock-based compensation expense related to outstanding service-based RSUs. For the nine months ended September 30, 2024 and 2023, the Company recognized $1.6 million and $1.2 million, respectively, of stock-based compensation expense related to outstanding service-based RSUs. The following table summarizes the Company's service-based RSU activity for the nine months ended September 30, 2024: Awards Weighted-Average Unvested at December 31, 2023 239,203 $ 11.09 Granted 54,747 45.77 Vested (140,248) 11.62 Forfeited (1,314) 45.47 Unvested at September 30, 2024 152,388 $ 22.76 Performance-Based Awards The Company grants performance-based restricted stock units (“PRSUs”) under which shares of the Company’s common stock may be earned based on the Company’s performance compared to defined metrics. The number of shares earned under a performance award may vary from zero to 150% of the target shares awarded, based upon the Company’s performance compared to the metrics. The metrics used for the grant are determined by the Company’s Compensation Committee of the Board of Directors and are based on internal measures such as the achievement of certain predetermined adjusted EBITDA and EBITDA margin performance goals generally over a three-year period. The Company recognizes stock-based compensation expense for these awards over the vesting period based on the projected probability of achievement of the performance conditions as of the end of each reporting period during the performance period and may periodically adjust the recognition of such expense, as necessary, in response to any changes in the Company’s forecasts with respect to the performance conditions. For the three months ended September 30, 2024 and 2023, the Company recognized $1.1 million and $0.7 million, respectively, of stock-based compensation expense related to outstanding PRSUs. For the nine months ended September 30, 2024 and 2023, the Company recognized $2.7 million and $2.2 million, respectively, of stock-based compensation expense related to outstanding PRSUs. The following table summarizes the Company's PRSU activity for the nine months ended September 30, 2024: Awards Weighted-Average Unvested at December 31, 2023 580,621 $ 10.85 Granted 84,869 45.58 Performance factor adjustment (1) 54,067 12.78 Vested (211,634) 12.78 Forfeited (2,628) 45.47 Unvested at September 30, 2024 505,295 $ 15.90 (1) Performance-based awards covering the three-year period ended December 31, 2023 were paid out in the first quarter of 2024 based on the approval of the Company's Compensation Committee. The performance factor during the measurement period used to determine compensation payouts was 134.3% of the pre-defined metric target of 100%, which resulted in a positive performance factor adjustment and the issuance of 54,067 shares of the Company's common stock as additional awards associated with the original grant. Stock-Based Compensation Expense Total recognized stock-based compensation expense amounted to $1.6 million and $1.1 million for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, the Company recognized stock-based compensation expense of $4.3 million and $3.4 million, respectively. The aggregate fair value as of the vest date of RSUs that vested during the nine months ended September 30, 2024 and 2023 was $16.9 million and $3.8 million, respectively. Total unrecognized stock-based compensation expense related to unvested RSUs that are probable of vesting was $6.6 million at September 30, 2024. These costs are expected to be recognized over a weighted average period of 1.77 years.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net (loss) income	$ 7,484	$ 5,963	$ 7,586	$ 7,192	$ 5,320	$ 2,993	$ 21,033	$ 15,505

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
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

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation References in these financial statements to the Company refer collectively to the accounts of Limbach Holdings, Inc. and its wholly-owned subsidiaries, including LHLLC, Limbach Facility Services LLC (“LFS”), Limbach Company LLC (“LC LLC”), Limbach Company LP, Harper Limbach LLC, Harper Limbach Construction LLC, Limbach Facility & Project Solutions LLC, Jake Marshall, LLC (“JMLLC”), Coating Solutions, LLC (“CSLLC”), ACME Industrial Piping, LLC (“ACME”), Industrial Air, LLC (“Industrial Air”), and Kent Island Mechanical, LLC (“Kent Island”) for all periods presented, unless otherwise indicated. All intercompany balances and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and with the requirements of Form 10-Q and Rule 8-03 of Regulation S-X for smaller reporting companies. Consequently, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. Readers of this report should refer to the consolidated financial statements and the notes thereto included in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 13, 2024.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements for assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, the reported amounts of revenue and expenses during the reported period, and the accompanying notes. Management believes that its most significant estimates and assumptions have been based on reasonable and supportable assumptions and the resulting estimates are reasonable for use in the preparation of the condensed consolidated financial statements. The Company’s significant estimates include estimates associated with revenue recognition on construction contracts, costs incurred through each balance sheet date, intangibles, property and equipment, fair value accounting for acquisitions, insurance reserves, income tax valuation allowances, fair value of contingent consideration arrangements and contingencies. If the underlying estimates and assumptions upon which the condensed consolidated financial statements are based change in the future, actual amounts may differ from those included in the accompanying consolidated financial statements.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying interim Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Stockholders’ Equity and Condensed Consolidated Statements of Cash Flows for the periods presented are unaudited. Also, within the notes to the condensed consolidated financial statements, the Company has included unaudited information for these interim periods. These unaudited interim condensed consolidated financial statements have been prepared in accordance with GAAP. In the Company's opinion, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary for a fair statement of the Company’s financial position as of September 30, 2024, its results of operations and equity for the three and nine months ended September 30, 2024 and 2023 and its cash flows for the nine months ended September 30, 2024 and 2023. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024. The Condensed Consolidated Balance Sheet as of December 31, 2023 was derived from the Company's audited financial statements included in its Annual Report on Form 10-K filed with the SEC on March 13, 2024, but is presented as condensed and does not contain all of the footnote disclosures from the annual financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This update aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The update also requires disclosure regarding the chief operating decision maker and expands the interim segment disclosure requirements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-07 on its condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). This update requires entities to disclose additional information with respect to the effective tax rate reconciliation and to disclose the disaggregation by jurisdiction of income tax expense and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09 on its condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) : Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity and amends the scope guidance for contracts in an entity's own equity. The ASU addresses how convertible instruments are accounted for in the calculation of diluted earnings per share by using the if-converted method. The guidance is effective for all entities for fiscal years beginning after March 31, 2024, albeit early adoption is permitted no earlier than fiscal years beginning after December 15, 2020. The Company is currently assessing the impact of this pronouncement on its condensed consolidated financial statements.
Revenue from Contract with Customers	Revenue from Contracts with Customers The Company generates revenue from construction type contracts, primarily consisting of fixed-price contracts, to deliver mechanical, plumbing, and electrical construction services to its customers. The duration of its contracts generally ranges from three months to two years. Revenue from fixed price contracts is recognized on the cost-to-cost method, measured by the relationship of total cost incurred to total estimated contract costs. Revenue from time and materials contracts is recognized as services are performed. The Company believes that its extensive experience in mechanical, plumbing, and electrical projects, and its internal cost review procedures during the bidding process, enable it to reasonably estimate costs and mitigate the risk of cost overruns on fixed price contracts. The Company generally invoices customers on a monthly basis, based on a schedule of values that breaks down the contract amount into discrete billing items. Costs and estimated earnings in excess of billings on uncompleted contracts are recorded as a contract asset until billable under the contract terms. Billings in excess of costs and estimated earnings on uncompleted contracts are recorded as a contract liability until the related revenue is recognizable. The Company classifies contract assets and liabilities that may be settled beyond one year from the balance sheet date as current, consistent with the length of time of the Company’s project operating cycle. Retainage receivable represents amounts invoiced to customers where payments have been partially withheld, typically 10%, pending the completion of certain milestones, satisfaction of other contractual conditions or the completion of the project. Retainage agreements vary from project to project and balances could be outstanding for several months or years depending on a number of circumstances such as contract-specific terms, project performance and other variables that may arise as the Company makes progress towards completion. Contract assets represent the excess of contract costs and profits (or contract revenue) over the amount of contract billings to date and are classified as a current asset. Contract assets result when either: (1) the appropriate contract revenue amount has been recognized over time in accordance with ASC Topic 606, but a portion of the revenue recorded cannot be currently billed due to the billing terms defined in the contract, or (2) costs are incurred related to certain claims and unapproved change orders. Claims occur when there is a dispute regarding both a change in the scope of work and the price associated with that change. Unapproved change orders occur when a change in the scope of work results in additional work being performed before the parties have agreed on the corresponding change in the contract price. The Company routinely estimates recovery related to claims and unapproved change orders as a form of variable consideration at the most likely amount it expects to receive and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Claims and unapproved change orders are billable upon the agreement and resolution between the contractual parties and after the execution of contractual amendments. Increases in claims and unapproved change orders typically result from costs being incurred against existing or new positions; decreases normally result from resolutions and subsequent billings. Billings in excess of costs and estimated earnings on uncompleted contracts represent the excess of contract billings to date over the amount of contract costs and profits (or contract revenue) recognized to date. The balance may fluctuate depending on the timing of contract billings and the recognition of contract revenue. Provisions for losses are recognized in the condensed consolidated statements of operations at the uncompleted performance obligation level for the amount of total estimated losses in the period that evidence indicates that the estimated total cost of a performance obligation exceeds its estimated total revenue. Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm orders for which work has not been performed and exclude unexercised contract options. The Company’s remaining performance obligations include projects that have a written award, a letter of intent, a notice to proceed or an agreed upon work order to perform work on mutually accepted terms and conditions. Additionally, the difference between remaining performance obligations and backlog is due to the exclusion of a portion of the Company’s ODR agreements under certain contract types from the Company’s remaining performance obligations as these contracts can be canceled for convenience at any time by the Company or the customer without considerable cost incurred by the customer.
Fair Value Measurements	The Company measures the fair value of financial assets and liabilities in accordance with ASC Topic 820 – Fair Value Measurements and Disclosures , which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC Topic 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value and requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: • Level 1 — inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that are accessible at the measurement date; • Level 2 — inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities; and • Level 3 — unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Allocation of Fair Value of Assets and Liabilities ACME Transaction and Industrial Air Transaction	The following table summarizes the preliminary allocation of the fair value of the assets and liabilities of the Kent Island Transaction as of the Kent Island Effective Date by the Company. (in thousands) Preliminary Purchase Price Allocation Consideration: Cash $ 14,603 Earnout provision 4,381 Total Consideration 18,984 Fair value of assets acquired: Cash and cash equivalents 1,887 Accounts receivable, including retainage 10,376 Contract assets 1,457 Property and equipment 434 Intangible assets 10,700 Amount attributable to assets acquired 24,854 Fair value of liabilities assumed: Accounts payable, including retainage 4,586 Accrued expenses and other current liabilities 1,269 Contract liabilities 4,828 Amount attributable to liabilities assumed 10,683 Goodwill $ 4,813
Schedule of Finite-Lived Intangible Assets	Intangible assets, net as of September 30, 2024 are detailed below. (in thousands) Gross Carrying Amount Accumulated Amortization Net Intangible Assets Weighted Average Useful Life (Years) Trade name and trademarks $ 200 $ — $ 200 1.0 Customer relationships - ODR 2,625 — 2,625 6.8 Customer relationships - GCR 4,875 — 4,875 6.8 Backlog - ODR 1,050 — 1,050 1.3 Backlog - GCR 1,950 — 1,950 1.3 Total $ 10,700 $ — $ 10,700 5.1

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Components of Contract Asset and Liability Balances	Contract assets include costs and estimated earnings in excess of billings on uncompleted contracts and amounts due under retainage provisions. The components of the contract asset balances as of the respective dates were as follows: (in thousands) September 30, 2024 December 31, 2023 Change Contract assets Costs and estimated earnings in excess of billings on uncompleted contracts $ 34,140 $ 29,247 $ 4,893 Retainage receivable 22,797 22,443 354 Total contract assets $ 56,937 $ 51,690 $ 5,247 Contract liabilities include billings in excess of contract costs and estimated earnings on uncompleted contracts and provisions for losses. The components of the contract liability balances as of the respective dates were as follows: (in thousands) September 30, 2024 December 31, 2023 Change Contract liabilities Billings in excess of costs and estimated earnings on uncompleted contracts $ 46,908 $ 41,987 $ 4,921 Provisions for losses 89 173 (84) Total contract liabilities $ 46,997 $ 42,160 $ 4,837
Schedule of Contracts In Progress	The net (overbilling) underbilling position for contracts in process consisted of the following: (in thousands) September 30, 2024 December 31, 2023 Revenue earned on uncompleted contracts $ 630,199 $ 551,120 Less: Billings to date (642,967) (563,860) Net (overbilling) underbilling $ (12,768) $ (12,740) (in thousands) September 30, 2024 December 31, 2023 Costs and estimated earnings in excess of billings on uncompleted contracts $ 34,140 $ 29,247 Billings in excess of costs and estimated earnings on uncompleted contracts (46,908) (41,987) Net (overbilling) underbilling $ (12,768) $ (12,740)

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table summarizes the carrying amount and changes in goodwill associated with the Company's segments for the nine months ended September 30, 2024 and for the year ended December 31, 2023. (in thousands) GCR ODR Total Goodwill as of January 1, 2023 $ — $ 11,370 $ 11,370 Goodwill associated with the ACME Transaction (1) — 2,226 2,226 Goodwill associated with the Industrial Air Transaction — 2,778 2,778 Goodwill as of December 31, 2023 — 16,374 16,374 Measurement period adjustments - Industrial Air Transaction (2) — 59 59 Goodwill associated with the Kent Island Transaction (3) 3,725 1,088 4,813 Goodwill as of September 30, 2024 $ 3,725 $ 17,521 $ 21,246 (1) Includes certain adjustments, net, to preliminary estimates of fair value within the measurement period of up to one-year from the date of the ACME Transaction. Measurement period adjustments, net, relate primarily to an increase in certain definite-lived intangible assets, partially offset by an increase in total consideration associated with the earnout provision. (2) Includes certain adjustments to preliminary estimates of fair value within the measurement period of up to one-year from the date of the Industrial Air Transaction. Measurement period adjustments related to certain working capital adjustments. (3)
Schedule of Intangible Assets	Intangible assets are comprised of the following: (in thousands) Gross Accumulated Net intangible September 30, 2024 Amortized intangible assets: Customer relationships $ 22,820 $ (6,385) $ 16,435 Backlog 5,560 (2,560) 3,000 Trade name, trademarks and intellectual property 4,450 (1,015) 3,435 Total amortized intangible assets 32,830 (9,960) 22,870 Unamortized intangible assets: Trade name – Limbach (1) 9,960 — 9,960 Total unamortized intangible assets 9,960 — 9,960 Total amortized and unamortized assets, excluding goodwill $ 42,790 $ (9,960) $ 32,830 (1) The Company has determined that its trade name has an indefinite useful life. The Limbach trade name has been in existence since the Company’s founding in 1901 and therefore is an established brand within the industry. (in thousands) Gross Accumulated Net intangible December 31, 2023 Amortized intangible assets: Customer relationships $ 15,320 $ (5,249) $ 10,071 Backlog 2,560 (1,264) 1,296 Trade name, trademarks and intellectual property 4,250 (578) 3,672 Total amortized intangible assets 22,130 (7,091) 15,039 Unamortized intangible assets: Trade name – Limbach 9,960 — 9,960 Total unamortized intangible assets 9,960 — 9,960 Total amortized and unamortized assets, excluding goodwill $ 32,090 $ (7,091) $ 24,999

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following obligations as of: (in thousands) September 30, 2024 December 31, 2023 A&R Wintrust Revolving Loans 10,000 10,000 Finance leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 3.96% to 8.60% through 2031 8,146 7,347 Financing liability 5,351 5,351 Total debt 23,497 22,698 Less - Current portion of long-term debt (2,626) (2,680) Less - Unamortized discount and debt issuance costs (374) (387) Long-term debt $ 20,497 $ 19,631
Schedule of Additional Margin and Commitment Fees Payable	The following is a summary of the applicable margin and commitment fees payable on the Second A&R Wintrust Revolving Loan credit commitment: Level Senior Leverage Ratio Applicable Margin for SOFR Revolver loans Applicable Margin for Applicable Margin for commitment fee I Greater than 1.00 to 1.00 3.10 % — % 0.25 % II Less than or equal to 1.00 to 1.00 2.60 % (0.50) % 0.25 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements, Nonrecurring	Fair Value at Reporting Date Using (in thousands) September 30, 2024 Level 1 Level 2 Level 3 Cash equivalents: Overnight repurchase agreements $ 50,933 $ 50,933 $ — $ — Money market fund 4,000 4,000 — — Total $ 54,933 $ 54,933 $ — $ — December 31, 2023 Level 1 Level 2 Level 3 Cash equivalents: Overnight repurchase agreements $ 43,959 $ 43,959 $ — $ — U.S. Treasury Bills 10,000 10,000 — — Money market fund 3,750 3,750 — — Total $ 57,709 $ 57,709 $ — $ — The following table presents the carrying values of the Company's contingent earnout payment obligations included in the accompanying condensed consolidated balance sheets, which approximated fair value at September 30, 2024 and December 31, 2023. Fair Value at Reporting Date Using (in thousands) September 30, 2024 Level 1 Level 2 Level 3 Accrued expenses and other current liabilities: First IA Earnout Period $ 2,962 $ — $ — $ 2,962 First Kent Island Earnout Period 2,230 — — 2,230 Second ACME Earnout Period 1,567 — — 1,567 Other long-term liabilities: Second IA Earnout Period 2,098 — — 2,098 Second Kent Island Earnout Period 2,151 — — 2,151 Total $ 11,008 $ — $ — $ 11,008 Fair Value at Reporting Date Using December 31, 2023 Level 1 Level 2 Level 3 Accrued expenses and other current liabilities: 2023 Jake Marshall Earnout Period (1) $ 3,000 $ — $ — $ 3,000 First ACME Earnout Period 429 — — 429 First IA Earnout Period 2,290 — $ — 2,290 Other long-term liabilities: Second ACME Earnout Period 1,188 — — 1,188 Second IA Earnout Period 875 — — 875 Total $ 7,782 $ — $ — $ 7,782 (1) In April 2024, the Company made a $3.0 million payment to the former owners of JMLLC and CSLLC related to the 2023 Jake Marshall Earnout Period.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of the basic and diluted earnings per share attributable to the Company's common stockholders for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 EPS numerator: Net income $ 7,484 $ 7,192 $ 21,033 $ 15,505 EPS denominator: Weighted average shares outstanding – basic 11,273 10,963 11,234 10,696 Impact of dilutive securities 754 826 765 976 Weighted average shares outstanding – diluted 12,027 11,789 11,999 11,672 EPS: Basic $ 0.66 $ 0.66 $ 1.87 $ 1.45 Diluted $ 0.62 $ 0.61 $ 1.75 $ 1.33
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the securities that were antidilutive or out-of-the-money, and therefore, were not included in the computations of diluted income per share of the Company's common stock: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Service-based RSUs (See Note 14) — — 64 49 Performance based RSUs — — 131 153 Employee Stock Purchase Plan 319 33 313 1,114 Total 319 33 508 1,316

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision (Benefit)	The following table presents our income tax provision and our income tax rate for the three and nine months ended September 30, 2024 and 2023. Three Months Ended Nine Months Ended (in thousands, except percentages) 2024 2023 2024 2023 Income tax provision $ 3,394 $ 2,760 $ 5,462 $ 5,407 Income tax rate 31.2 % 27.7 % 20.6 % 25.9 %

Operating Segments (Tables)

Operating Segments (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Condensed Consolidated Segment Information	Condensed consolidated segment information for the three and nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Statement of Operations Data: Revenue: ODR $ 93,007 $ 65,832 $ 250,017 $ 183,330 GCR 40,913 61,936 125,114 190,329 Total revenue 133,920 127,768 375,131 373,659 Gross profit: ODR 29,647 19,274 77,170 52,424 GCR 6,467 11,970 23,540 33,560 Total gross profit 36,114 31,244 100,710 85,984 Selling, general and administrative (1) 23,748 20,967 69,800 62,433 Change in fair value of contingent consideration 610 161 2,344 464 Amortization of intangibles 868 288 2,956 1,054 Operating income $ 10,888 $ 9,828 $ 25,610 $ 22,033 Other (expenses) income: Interest expense (468) (437) (1,375) (1,615) Interest income 626 377 1,734 624 Gain on disposition of property and equipment 99 68 656 28 Loss on early debt extinguishment — — — (311) (Loss) gain on change in fair value of interest rate swap (267) 116 (130) 153 Total other (expenses) income (10) 124 885 (1,121) Income before income taxes $ 10,878 $ 9,952 $ 26,495 $ 20,912 (1) Included within selling, general and administrative expenses was $1.6 million and $1.1 million of stock-based compensation expense for the three months ended September 30, 2024 and 2023, respectively, and $4.3 million and $3.4 million for the nine months ended September 30, 2024 and 2023, respectively.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Supplemental Balance Sheets Information	The following table summarizes the lease amounts included in the Company's condensed consolidated balance sheets: (in thousands) Classification on the Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 Assets Operating Operating lease right-of-use assets (1)(2) $ 22,312 $ 19,727 Finance Property and equipment, net (3)(4) 10,279 9,561 Total lease assets $ 32,591 $ 29,288 Liabilities Current Operating Current operating lease liabilities $ 3,964 $ 3,627 Finance Current portion of long-term debt 2,626 2,680 Noncurrent Operating Long-term operating lease liabilities 18,569 16,037 Finance Long-term debt (5) 10,871 10,018 Total lease liabilities $ 36,030 $ 32,362 (1) Operating lease assets are recorded net of accumulated amortization of $13.0 million at September 30, 2024 and $13.6 million at December 31, 2023. (2) Includes approximately $0.9 million and $1.0 million at September 30, 2024 and December 31, 2023, respectively, related to a below-market lease recognized as a result of the Industrial Air Transaction, which was recorded as an increase to the Company’s operating lease right-of-use assets on its condensed consolidated balance sheet. The below-market lease will be amortized to amortization expense over the remaining lease term. (3) Finance lease vehicle assets are recorded net of accumulated amortization of $5.7 million at September 30, 2024 and $4.5 million at December 31, 2023. (4) Includes approximately $2.4 million of net property assets associated with the Company's Pontiac Facility at both September 30, 2024 and December 31, 2023, respectively. (5) Includes approximately $5.4 million associated with the Company's sale and leaseback financing transaction at both September 30, 2024 and December 31, 2023. See Note 6 for further detail.
Schedule of Lease Costs, Lease Terms and Discount Rates	The following table summarizes the lease costs included in the Company's condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended (in thousands) Classification on the Condensed Consolidated Statement of Operations 2024 2023 2024 2023 Operating lease cost Cost of revenue (1) $ 785 $ 543 $ 2,116 $ 1,626 Operating lease cost Selling, general and administrative (1) 523 635 1,848 1,892 Finance lease cost Amortization Cost of revenue (2) 816 714 2,310 2,012 Interest Interest expense, net (2) 128 113 363 265 Total lease cost $ 2,252 $ 2,005 $ 6,637 $ 5,795 (1) Operating lease costs recorded in cost of revenue included $0.2 million and $0.1 million of variable lease costs for the three months ended September 30, 2024 and 2023, and $0.4 million and $0.3 million for the nine months ended September 30, 2024 and 2023. In addition, $0.1 million and $0.2 million of variable lease costs are included in selling, general and administrative for the three months ended September 30, 2024 and 2023, respectively, and $0.3 million and $0.4 million for each of the nine months ended September 30, 2024 and 2023, respectively. These variable costs consist of the Company's proportionate share of operating expenses, real estate taxes and utilities. (2) Finance lease costs recorded in cost of revenue include variable lease costs of $1.0 million and $0.9 million for the three months ended September 30, 2024 and 2023, respectively, and $3.0 million and $2.7 million for the nine months ended September 30, 2024 and 2023, respectively. These variable lease costs consist of fuel, maintenance, and sales tax charges. The following is a summary of the lease terms and discount rates as of: September 30, 2024 December 31, 2023 Weighted average lease term (in years): Operating 6.10 6.54 Finance (1) 3.39 3.10 Weighted average discount rate: Operating 5.94 % 6.74 % Finance (1) 6.40 % 5.33 % (1) Excludes the weighted average lease term and weighted average discount rate associated with the aforementioned sale-leaseback financing transaction, which has a Primary Term of 25 years and utilized an implicit rate of 11.11%. See Note 6 for further detail.
Schedule of Future Minimum Commitment for Finance Leases	The future undiscounted minimum finance lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s condensed consolidated balance sheets within current and long-term debt, less interest, and under current and long-term operating leases, less imputed interest, as of September 30, 2024 were as follows (in thousands): Finance Lease Obligations Operating Lease Obligations Year ending: Vehicles Pontiac Facility Total Finance Non-Related Party Related Party (1) Total Operating Sublease Receipts (2) Remainder of 2024 $ 803 $ 131 $ 934 $ 1,035 $ 245 $ 1,280 $ 231 2025 2,916 528 3,444 4,397 765 5,162 939 2026 2,399 542 2,941 4,480 770 5,250 967 2027 1,448 555 2,003 3,389 871 4,260 326 2028 720 569 1,289 2,457 871 3,328 — Thereafter 411 13,733 14,144 2,542 4,997 7,539 — Total minimum lease payments 8,697 16,058 24,755 18,300 8,519 26,819 $ 2,463 Financing Component (3) (551) (10,707) (11,258) (2,386) (1,900) (4,286) Net present value of minimum lease payments 8,146 5,351 13,497 15,914 6,619 22,533 Less: current portion of finance and operating lease obligations (2,626) — (2,626) (3,483) (481) (3,964) Long-term finance and operating lease obligations $ 5,520 $ 5,351 $ 10,871 $ 12,431 $ 6,138 $ 18,569 (1) Associated with the aforementioned related party leases entered into with former members of JMLLC, ACME and Industrial Air. (2) Associated with the aforementioned third party sublease. (3) The financing component for finance lease obligations represents the interest component of finance leases that will be recognized as interest expense in future periods. The financing component for operating lease obligations represents the effect of discounting the lease payments to their present value.
Schedule of Future Minimum Commitment for Operating Leases	The future undiscounted minimum finance lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s condensed consolidated balance sheets within current and long-term debt, less interest, and under current and long-term operating leases, less imputed interest, as of September 30, 2024 were as follows (in thousands): Finance Lease Obligations Operating Lease Obligations Year ending: Vehicles Pontiac Facility Total Finance Non-Related Party Related Party (1) Total Operating Sublease Receipts (2) Remainder of 2024 $ 803 $ 131 $ 934 $ 1,035 $ 245 $ 1,280 $ 231 2025 2,916 528 3,444 4,397 765 5,162 939 2026 2,399 542 2,941 4,480 770 5,250 967 2027 1,448 555 2,003 3,389 871 4,260 326 2028 720 569 1,289 2,457 871 3,328 — Thereafter 411 13,733 14,144 2,542 4,997 7,539 — Total minimum lease payments 8,697 16,058 24,755 18,300 8,519 26,819 $ 2,463 Financing Component (3) (551) (10,707) (11,258) (2,386) (1,900) (4,286) Net present value of minimum lease payments 8,146 5,351 13,497 15,914 6,619 22,533 Less: current portion of finance and operating lease obligations (2,626) — (2,626) (3,483) (481) (3,964) Long-term finance and operating lease obligations $ 5,520 $ 5,351 $ 10,871 $ 12,431 $ 6,138 $ 18,569 (1) Associated with the aforementioned related party leases entered into with former members of JMLLC, ACME and Industrial Air. (2) Associated with the aforementioned third party sublease. (3) The financing component for finance lease obligations represents the interest component of finance leases that will be recognized as interest expense in future periods. The financing component for operating lease obligations represents the effect of discounting the lease payments to their present value.
Schedule of Leases Supplemental Cash Flow Information	The following is a summary of other information and supplemental cash flow information related to finance and operating leases: Nine months ended September 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,778 $ 3,478 Operating cash flows from finance leases 361 227 Financing cash flows from finance leases 2,179 2,032 Right-of-use assets exchanged for lease liabilities: Operating leases 4,776 1,043 Finance leases 3,095 4,062 Right-of-use assets disposed or adjusted modifying operating leases liabilities 988 (643) Right-of-use assets disposed or adjusted modifying finance leases liabilities — (77)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Components of Self-Insurance	The components of the self-insurance liability as of September 30, 2024 and December 31, 2023 are as follows: (in thousands) September 30, December 31, Current liability — workers’ compensation and general liability $ 209 $ 188 Current liability — medical and dental 556 819 Non-current liability 699 645 Total liability $ 1,464 $ 1,652 Restricted cash $ 65 $ 65

Management Incentive Plans (Tab

Management Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2024
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the Company's service-based RSU activity for the nine months ended September 30, 2024: Awards Weighted-Average Unvested at December 31, 2023 239,203 $ 11.09 Granted 54,747 45.77 Vested (140,248) 11.62 Forfeited (1,314) 45.47 Unvested at September 30, 2024 152,388 $ 22.76
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the Company's PRSU activity for the nine months ended September 30, 2024: Awards Weighted-Average Unvested at December 31, 2023 580,621 $ 10.85 Granted 84,869 45.58 Performance factor adjustment (1) 54,067 12.78 Vested (211,634) 12.78 Forfeited (2,628) 45.47 Unvested at September 30, 2024 505,295 $ 15.90 (1) Performance-based awards covering the three-year period ended December 31, 2023 were paid out in the first quarter of 2024 based on the approval of the Company's Compensation Committee. The performance factor during the measurement period used to determine compensation payouts was 134.3% of the pre-defined metric target of 100%, which resulted in a positive performance factor adjustment and the issuance of 54,067 shares of the Company's common stock as additional awards associated with the original grant.

Business and Organization (Deta

Business and Organization (Details)	9 Months Ended
	Sep. 30, 2024 employee office segment market
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of markets | market	6
Number of employees | employee	1,300
Number of office | office	19
Number of operating segments | segment	2
Service period	2 years

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands				12 Months Ended
	Sep. 03, 2024 USD ($) payment	Nov. 01, 2023 USD ($) payment	Jul. 03, 2023 USD ($) payment	Dec. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) approach
Business Acquisition [Line Items]
Estimated annual amortization expense year two					$ 1,100
Estimated annual amortization expense year three					1,100
Estimated annual amortization expense year four					1,100
Estimated annual amortization expense year five					1,100
Other long-term liabilities				$ 2,708	4,947
Kent Island Mechanical, Inc.
Business Acquisition [Line Items]
Consideration paid at closing	$ 15,000
Amount of consideration paid held in escrow for indemnification purposes	400
Contingent consideration, liability	$ 5,000
Number of earnout tranches | payment	2
Remainder of fiscal year					1,200
Estimated annual amortization expense year one					$ 3,500
Kent Island Mechanical, Inc. | Level 3
Business Acquisition [Line Items]
Fair value of earnout payments	$ 4,400
Other long-term liabilities	2,200
Kent Island Mechanical, Inc. | ODR & GCR
Business Acquisition [Line Items]
Goodwill fully deductible for tax purposes	4,800
Goodwill associated with acquisition	4,800
Kent Island Mechanical, Inc. | Maximum | Level 3 | Measurement Input, Discount Rate
Business Acquisition [Line Items]
Earnout payments, measurement input | approach					0.149
Kent Island Mechanical, Inc. | Earn Out Payment One
Business Acquisition [Line Items]
Contingent consideration, liability	$ 2,500
Earnout period	12 months
Kent Island Mechanical, Inc. | Earn Out Payment One | Maximum
Business Acquisition [Line Items]
Gross profits from acquired companies	$ 3,300
Kent Island Mechanical, Inc. | Earn Out Payment Two
Business Acquisition [Line Items]
Contingent consideration, liability	$ 2,500
Earnout period	12 months
Kent Island Mechanical, Inc. | Earn Out Payment Two | Maximum
Business Acquisition [Line Items]
Gross profits from acquired companies	$ 200
ACME Industrial piping LLC
Business Acquisition [Line Items]
Consideration paid at closing			$ 5,000
Amount of consideration paid held in escrow for indemnification purposes			400
Contingent consideration, liability			2,500		$ 1,500
Goodwill fully deductible for tax purposes				2,226
ACME Industrial piping LLC | Earn Out Payment One
Business Acquisition [Line Items]
Contingent consideration, liability			$ 500
Number of earnout tranches | payment			2
Earnout period			12 months
ACME Industrial piping LLC | Earn Out Payment One | Maximum
Business Acquisition [Line Items]
Gross profits from acquired companies			$ 2,000
ACME Industrial piping LLC | Earn Out Payment Two
Business Acquisition [Line Items]
Contingent consideration, liability			$ 2,000
Number of earnout tranches | payment			2
Earnout period			12 months
ACME Industrial piping LLC | Earn Out Payment Two | Maximum
Business Acquisition [Line Items]
Gross profits from acquired companies			$ 2,500
Industrial Air Transaction
Business Acquisition [Line Items]
Consideration paid at closing		$ 13,500
Amount of consideration paid held in escrow for indemnification purposes		1,400
Contingent consideration, liability		6,500			$ 3,200
Goodwill fully deductible for tax purposes				$ 2,778
Industrial Air Transaction | Earn Out Payment One
Business Acquisition [Line Items]
Contingent consideration, liability		$ 3,000
Number of earnout tranches | payment		2
Earnout period		12 months
Industrial Air Transaction | Earn Out Payment One | Maximum
Business Acquisition [Line Items]
Gross profits from acquired companies		$ 7,600
Industrial Air Transaction | Earn Out Payment One | Maximum | First IA Earnout Period
Business Acquisition [Line Items]
Gross profits from acquired companies		7,600
Industrial Air Transaction | Earn Out Payment One | Maximum | Second IA Earnout Period
Business Acquisition [Line Items]
Gross profits from acquired companies		8,800
Industrial Air Transaction | Earn Out Payment One | Minimum | First IA Earnout Period
Business Acquisition [Line Items]
Gross profits from acquired companies		6,600
Industrial Air Transaction | Earn Out Payment One | Minimum | Second IA Earnout Period
Business Acquisition [Line Items]
Gross profits from acquired companies		7,800
Industrial Air Transaction | Earn Out Payment Two
Business Acquisition [Line Items]
Contingent consideration, liability		$ 3,500
Number of earnout tranches | payment		2
Earnout period		12 months
Industrial Air Transaction | Earn Out Payment Two | Maximum
Business Acquisition [Line Items]
Gross profits from acquired companies		$ 8,800

Acquisitions - Schedule of Allo

Acquisitions - Schedule of Allocation of Fair Value of Assets and Liabilities ACME Transaction and Industrial Air Transaction (Details) - USD ($) $ in Thousands	Sep. 03, 2024	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair value of liabilities assumed:
Goodwill		$ 21,246	$ 16,374	$ 11,370
Kent Island Mechanical, Inc.
Consideration:
Cash	$ 14,603
Earnout provision	4,381
Total Consideration	18,984
Fair value of assets acquired:
Cash and cash equivalents	1,887
Accounts receivable, including retainage	10,376
Contract assets	1,457
Property and equipment	434
Intangible assets	10,700
Amount attributable to assets acquired	24,854
Fair value of liabilities assumed:
Accounts payable, including retainage	4,586
Accrued expenses and other current liabilities	1,269
Contract liabilities	4,828
Amount attributable to liabilities assumed	10,683
Goodwill	$ 4,813

Acquisitions - Schedule of Inta

Acquisitions - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Gross Carrying Amount	$ 32,830	$ 22,130
Accumulated Amortization	(9,960)	(7,091)
Net intangible assets, excluding goodwill	22,870	15,039
Kent Island Mechanical, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	10,700
Accumulated Amortization	0
Net intangible assets, excluding goodwill	$ 10,700
Weighted Average Useful Life (Years)	5 years 1 month 6 days
Trade name and trademarks | Kent Island Mechanical, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	$ 200
Accumulated Amortization	0
Net intangible assets, excluding goodwill	$ 200
Weighted Average Useful Life (Years)	1 year
Customer Relationships
Business Acquisition [Line Items]
Gross Carrying Amount	$ 22,820	15,320
Accumulated Amortization	(6,385)	(5,249)
Net intangible assets, excluding goodwill	16,435	$ 10,071
Customer Relationships | Kent Island Mechanical, Inc. | ODR
Business Acquisition [Line Items]
Gross Carrying Amount	2,625
Accumulated Amortization	0
Net intangible assets, excluding goodwill	$ 2,625
Weighted Average Useful Life (Years)	6 years 9 months 18 days
Customer Relationships | Kent Island Mechanical, Inc. | GCR
Business Acquisition [Line Items]
Gross Carrying Amount	$ 4,875
Accumulated Amortization	0
Net intangible assets, excluding goodwill	$ 4,875
Weighted Average Useful Life (Years)	6 years 9 months 18 days
Backlog | Kent Island Mechanical, Inc. | ODR
Business Acquisition [Line Items]
Gross Carrying Amount	$ 1,050
Accumulated Amortization	0
Net intangible assets, excluding goodwill	$ 1,050
Weighted Average Useful Life (Years)	1 year 3 months 18 days
Backlog | Kent Island Mechanical, Inc. | GCR
Business Acquisition [Line Items]
Gross Carrying Amount	$ 1,950
Accumulated Amortization	0
Net intangible assets, excluding goodwill	$ 1,950
Weighted Average Useful Life (Years)	1 year 3 months 18 days

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($) project	Sep. 30, 2024 USD ($) project	Sep. 30, 2023 USD ($) project	Dec. 31, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Term of revenue contracts			three months to two years
Percentage completed of certain milestones			10%
Net amount of unresolved change orders and claims	$ 12.1		$ 12.1		$ 19.5
Revision amount for gross profit impact on contract estimates (more than)	$ 0.5		0.5
Total gross profits adjustments, write downs			$ 0.6
Number of projects subject to gross profit write down | project			1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Property, Plant and Equipment [Line Items]
Revenue, remaining performance obligations, expected timing of satisfaction, period	24 months		24 months
ODR
Property, Plant and Equipment [Line Items]
Total gross profits adjustments, write downs		$ 0.6		$ 0.7
Number of projects with write downs | project			4
Total gross profits adjustments net			$ 3.9
Number of projects subject to gross profit write down | project		1		1
ODR | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Property, Plant and Equipment [Line Items]
Remaining performance obligations, amount	$ 188.7		$ 188.7
Revenue, remaining performance obligations, percentage	39%		39%
Revenue, remaining performance obligations, expected timing of satisfaction, period	3 months		3 months
ODR | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Property, Plant and Equipment [Line Items]
Revenue, remaining performance obligations, percentage	69%		69%
GCR
Property, Plant and Equipment [Line Items]
Total gross profits adjustments, write downs		$ 0.7		$ 0.5
Number of projects with write downs | project		3	2	2
Total gross profits adjustments net		$ 3.1	$ 1.5	$ 2.2
Number of projects subject to gross profit write down | project		1		1
Write-up settlement		$ 1.2		$ 1.2
GCR | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Property, Plant and Equipment [Line Items]
Remaining performance obligations, amount	$ 161.5		$ 161.5
Revenue, remaining performance obligations, percentage	31%		31%
Revenue, remaining performance obligations, expected timing of satisfaction, period	3 months		3 months
GCR | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Property, Plant and Equipment [Line Items]
Revenue, remaining performance obligations, percentage	61%		61%

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Components of Contract Asset and Liability Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Contract assets
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 34,140	$ 29,247
Retainage receivable	22,797	22,443
Total contract assets	56,937	51,690
Change in costs and estimated earnings in excess of billings on uncompleted contracts	4,893
Change in retainage receivable	354
Change in total contract assets	5,247
Contract liabilities
Billings in excess of costs and estimated earnings on uncompleted contracts	46,908	41,987
Provisions for losses	89	173
Total contract liabilities	46,997	$ 42,160
Change in billings in excess of costs and estimated earnings on uncompleted contracts	4,921
Change in provisions for losses	(84)
Change in total contract liabilities	$ 4,837

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Schedule of Contracts In Progress (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue earned on uncompleted contracts	$ 630,199	$ 551,120
Less: Billings to date	(642,967)	(563,860)
Net (overbilling) underbilling	(12,768)	(12,740)
Costs and estimated earnings in excess of billings on uncompleted contracts	34,140	29,247
Billings in excess of costs and estimated earnings on uncompleted contracts	$ (46,908)	$ (41,987)

Goodwill and Intangibles - Narr

Goodwill and Intangibles - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 21,246,000		$ 21,246,000		$ 16,374,000	$ 11,370,000
Impairment of intangible assets (excluding goodwill)	0	$ 0	0	$ 0
Amortization of intangibles	$ 868,000	$ 288,000	$ 2,956,000	$ 1,054,000

Goodwill and Intangibles - Carr

Goodwill and Intangibles - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 16,374	$ 11,370
Goodwill, Ending Balance	21,246	16,374
ACME Industrial piping LLC
Goodwill [Roll Forward]
Goodwill associated with acquisition		2,226
Industrial Air Transaction
Goodwill [Roll Forward]
Goodwill associated with acquisition		2,778
Measurement period adjustments	59
Kent Island Transaction
Goodwill [Roll Forward]
Goodwill associated with acquisition	4,813
Goodwill, Ending Balance	4,800
GCR
Goodwill [Roll Forward]
Goodwill, Beginning Balance	0	0
Goodwill, Ending Balance	3,725	0
GCR | ACME Industrial piping LLC
Goodwill [Roll Forward]
Goodwill associated with acquisition		0
GCR | Industrial Air Transaction
Goodwill [Roll Forward]
Goodwill associated with acquisition		0
Measurement period adjustments	0
GCR | Kent Island Transaction
Goodwill [Roll Forward]
Goodwill associated with acquisition	3,725
ODR
Goodwill [Roll Forward]
Goodwill, Beginning Balance	16,374	11,370
Goodwill, Ending Balance	17,521	16,374
ODR | ACME Industrial piping LLC
Goodwill [Roll Forward]
Goodwill associated with acquisition		2,226
ODR | Industrial Air Transaction
Goodwill [Roll Forward]
Goodwill associated with acquisition		$ 2,778
Measurement period adjustments	59
ODR | Kent Island Transaction
Goodwill [Roll Forward]
Goodwill associated with acquisition	$ 1,088

Goodwill and Intangibles - Sche

Goodwill and Intangibles - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Amortized intangible assets:
Gross carrying amount	$ 32,830	$ 22,130
Accumulated amortization	(9,960)	(7,091)
Net intangible assets, excluding goodwill	22,870	15,039
Unamortized intangible assets:
Gross carrying amount	9,960	9,960
Net intangible assets, excluding goodwill	9,960	9,960
Gross carrying amount	42,790	32,090
Accumulated amortization	(9,960)	(7,091)
Total amortized and unamortized assets, excluding goodwill	32,830	24,999
Trade name
Unamortized intangible assets:
Gross carrying amount	9,960	9,960
Net intangible assets, excluding goodwill	9,960	9,960
Customer relationships
Amortized intangible assets:
Gross carrying amount	22,820	15,320
Accumulated amortization	(6,385)	(5,249)
Net intangible assets, excluding goodwill	16,435	10,071
Unamortized intangible assets:
Accumulated amortization	(6,385)	(5,249)
Backlog - GCR
Amortized intangible assets:
Gross carrying amount	5,560	2,560
Accumulated amortization	(2,560)	(1,264)
Net intangible assets, excluding goodwill	3,000	1,296
Unamortized intangible assets:
Accumulated amortization	(2,560)	(1,264)
Trade name
Amortized intangible assets:
Gross carrying amount	4,450	4,250
Accumulated amortization	(1,015)	(578)
Net intangible assets, excluding goodwill	3,435	3,672
Unamortized intangible assets:
Accumulated amortization	$ (1,015)	$ (578)

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Finance leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 3.96% to 8.60% through 2031	$ 13,497
Total debt	23,497	$ 22,698
Less - Current portion of long-term debt	(2,626)	(2,680)
Less - Unamortized discount and debt issuance costs	(374)	(387)
Long-term debt	20,497	19,631
Vehicles
Debt Instrument [Line Items]
Finance leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 3.96% to 8.60% through 2031	8,146	7,347
Pontiac Facility
Debt Instrument [Line Items]
Finance leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 3.96% to 8.60% through 2031	$ 5,351	5,351
Minimum
Debt Instrument [Line Items]
Finance lease, discount rate	3.96%
Maximum
Debt Instrument [Line Items]
Finance lease, discount rate	8.60%
Revolving Credit Facility | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Long term debt	$ 10,000	$ 10,000

Debt - Wintrust Term and Revolv

Debt - Wintrust Term and Revolving Loans (Details)		1 Months Ended	3 Months Ended		4 Months Ended	9 Months Ended
	May 05, 2023 USD ($) covenant	May 05, 2023 USD ($) covenant	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	May 05, 2023 USD ($) covenant	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Mar. 13, 2024 USD ($)	Mar. 12, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jul. 31, 2022 USD ($)	Feb. 24, 2021 USD ($)
Interest Rate Swap
Debt Instrument [Line Items]
Notional amount											$ 10,000,000
Fixed interest rate											3.12%
Wintrust Term Loan
Debt Instrument [Line Items]
Debt effective interest rate	9.25%	9.25%			9.25%
Interest rate during period		9%			8.76%
A&R Wintrust Term And Revolving Loans
Debt Instrument [Line Items]
Number of financial covenants | covenant	3	3			3
Debt instrument, covenant compliance, leverage ratio	2
Debt instrument, covenant compliance, coverage ratio	1.20
Aggregate amount of unfinanced capital expenditures during any fiscal year	$ 0
Limit annual percentage of unfinanced capital expenditures	50%
Maximum outstanding borrowings during the period			$ 10,000,000	$ 10,000,000		$ 10,000,000	$ 10,000,000
Weighted average annual interest rate			5.72%	5.72%		5.72%	5.72%
A&R Wintrust Term And Revolving Loans | Maximum
Debt Instrument [Line Items]
Aggregate amount of unfinanced capital expenditures during any fiscal year	$ 4,000,000
Amount drawn under credit agreement			$ 10,000,000			$ 10,000,000				$ 10,000,000
Average daily balance of borrowings outstanding			10,000,000	$ 10,000,000		10,000,000	$ 5,500,000
Wintrust Loans
Debt Instrument [Line Items]
Letters of credit			4,300,000			4,300,000
Secured Debt | Wintrust Term Loan
Debt Instrument [Line Items]
Debt issued	50,000,000	$ 50,000,000			$ 50,000,000							$ 30,000,000
Secured Debt | A&R Wintrust Term Loan | Jake Marshall Transaction
Debt Instrument [Line Items]
Debt issued			35,500,000			35,500,000
Secured Debt | Revolving Credit Facility | A&R Wintrust Revolving Loans | Jake Marshall Transaction
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			25,000,000			25,000,000
Secured Debt | Sublimit for Letters of Credit | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 10,000,000	$ 5,000,000
Threshold for borrowing base certificate								$ 30,000,000
Secured Debt | Sublimit for Letters of Credit | A&R Wintrust Revolving Loans | Jake Marshall Transaction
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	5,000,000	5,000,000	$ 5,000,000		5,000,000	$ 5,000,000
Line of Credit | Revolving Credit Facility | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	25,000,000	$ 25,000,000			$ 25,000,000							25,000,000
Outstanding balance	9,600,000
Unamortized debt issuance costs	$ 300,000
Line of Credit | Revolving Credit Facility | A&R Wintrust Revolving Loans | SOFR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.15%
Line of Credit | Revolving Credit Facility | A&R Wintrust Revolving Loans | SOFR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.10%
Line of Credit | Revolving Credit Facility | A&R Wintrust Revolving Loans | Base Rate
Debt Instrument [Line Items]
Step-down adjustment on basis spread on variable rate	0.50%
Line of Credit | Revolving Credit Facility | A&R Wintrust Revolving Loans | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	3%
Line of Credit | Sublimit for Letters of Credit | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity												$ 5,000,000

Debt - Additional Margin and Co

Debt - Additional Margin and Commitment Fees Payable (Details)	9 Months Ended
	Sep. 30, 2024
Level I
Debt Instrument [Line Items]
Senior Leverage Ratio	100%
Level I | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Additional margin for loans	0.25%
Level I | SOFR | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Additional margin for loans	3.10%
Level I | Prime Rate | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Additional margin for loans	0%
Level II
Debt Instrument [Line Items]
Senior Leverage Ratio	100%
Level II | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Additional margin for loans	0.25%
Level II | SOFR | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Additional margin for loans	2.60%
Level II | Prime Rate | A&R Wintrust Revolving Loans
Debt Instrument [Line Items]
Additional margin for loans	(0.50%)

Debt - Sale-Leaseback Financing

Debt - Sale-Leaseback Financing Transactions (Details)		3 Months Ended		9 Months Ended
	Sep. 29, 2022 USD ($) renewalTerm	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Purchase of property under sale and leaseback transaction	$ 7,800,000	$ 2,400,000		$ 2,400,000		$ 2,400,000
Purchase price	5,400,000
Tenant improvement allowance	$ 2,400,000
Lease agreement, term	25 years
Lease agreement, number of renewal terms | renewalTerm	2
Lease agreement, renewal term	5 years
Sale leaseback transaction, annual minimum rent	$ 499,730
Annual increase rate	2.50%
Termination fee	$ 1,700,000
Discount rate	11.11%			11.11%
Tenant improvement allowance, implicit rate	6.53%
Sale leaseback transaction, gain or loss recognized				$ 0
Finance lease liability		5,000,000		5,000,000
Financing interest expense		$ 100,000	$ 100,000	$ 400,000	$ 400,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)			1 Months Ended				12 Months Ended	13 Months Ended
	Mar. 29, 2023	Jan. 01, 2020	Jul. 31, 2024	Jan. 31, 2024	Jul. 31, 2023	Jan. 31, 2023	Dec. 31, 2023	Sep. 29, 2023	Sep. 30, 2024	Jul. 20, 2023	Sep. 30, 2022
Class of Stock [Line Items]
Common stock, shares authorized (in shares)							100,000,000		100,000,000
Common stock, par or stated value per share (in usd per share)							$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares)									1,000,000
Preferred stock, par or stated value per share (in usd per shares)									$ 0.0001
Share Repurchase Program
Class of Stock [Line Items]
Repurchase of common stock											$ 2,000,000
Share repurchased, amount								$ 2,000,000
2023 Amended And Restated Omnibus Incentive Plan
Class of Stock [Line Items]
Number of additional shares authorized under share-based compensation plan (in shares)	450,000
Common stock, capital shares reserved for future issuance (in shares)	3,050,000
ESPP | Employee Stock Purchase Plan
Class of Stock [Line Items]
Purchase price of common stock, percent of market price (no less than)		85%
Maximum employee subscription percentage		10%
Maximum contribution amount		$ 5,000
Offering period		6 months
Discount percentage from market price, beginning of purchase period		15%
Award vesting period		6 months
Number of shares authorized (in shares)		500,000
Shares issued (in shares)			3,101	2,989	6,664	10,997
Shares remaining available for future issuance (in shares)									382,866
$15 Exercise Price Sponsor Warrants
Class of Stock [Line Items]
Exercise price of warrants (in usd per share)							$ 15		$ 15
Warrants redeemed (in shares)							600,000
Class of warrant or right, number of securities called by each warrant or right (in shares)							1
Merger Warrants
Class of Stock [Line Items]
Exercise price of warrants (in usd per share)							$ 12.50
Warrants redeemed (in shares)							606,476
Class of warrant or right, number of securities called by each warrant or right (in shares)							1
Warrant converted into securities (in shares)							274,742
Sponsor Warrant
Class of Stock [Line Items]
Warrant converted into securities (in shares)							167,564
unexercised Merger Warrants
Class of Stock [Line Items]
Class of warrant or right, outstanding (in shares)										23,167

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands				1 Months Ended		3 Months Ended		9 Months Ended		13 Months Ended
	Nov. 01, 2023 USD ($) payment	Jul. 03, 2023 USD ($) payment	Dec. 02, 2021 USD ($) payment	Sep. 30, 2024 USD ($)	Apr. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Apr. 30, 2024 USD ($) payment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest income						$ 626	$ 377	$ 1,734	$ 624
Number of payments to former owners | payment										2
Payment to former owners				$ 500	$ 3,000					$ 3,000
Change in fair value of contingent consideration						610	161	2,344	464
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Loss) gain on change in fair value of interest rate swap						(300)	100	(100)	200
Other Noncurrent Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the interest rate swap				100		100		100
Jake Marshall Transaction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability			$ 6,000
Change in fair value of contingent consideration						600	100	2,300	500
Jake Marshall Transaction | Earn Out Payment Two
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability			$ 3,000
Number of earnout tranches | payment			2
Earnout period			12 months
Jake Marshall Transaction | Earn Out Payment Two | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies			$ 10,000
Jake Marshall Transaction | Earn Out Payment Two | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies			8,000
Jake Marshall Transaction | Earn Out Payment One
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability			$ 3,000
Number of earnout tranches | payment			2
Earnout period			12 months
Jake Marshall Transaction | Earn Out Payment One | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies			$ 10,000
Jake Marshall Transaction | Earn Out Payment One | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies			8,000
ACME Industrial piping LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability		$ 2,500		1,500		1,500		1,500
ACME Industrial piping LLC | Earn Out Payment Two
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability		$ 2,000
Number of earnout tranches | payment		2
Earnout period		12 months
ACME Industrial piping LLC | Earn Out Payment Two | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies		$ 2,500
ACME Industrial piping LLC | Earn Out Payment One
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability		$ 500
Number of earnout tranches | payment		2
Earnout period		12 months
ACME Industrial piping LLC | Earn Out Payment One | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies		$ 2,000
Industrial Air Transaction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability	$ 6,500			3,200		3,200		3,200
Industrial Air Transaction | Earn Out Payment Two
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability	$ 3,500
Number of earnout tranches | payment	2
Earnout period	12 months
Industrial Air Transaction | Earn Out Payment Two | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies	$ 8,800
Industrial Air Transaction | Earn Out Payment One
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability	$ 3,000
Number of earnout tranches | payment	2
Earnout period	12 months
Industrial Air Transaction | Earn Out Payment One | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross profits from acquired companies	$ 7,600
Kent Island Transaction
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability				$ 4,400		4,400		4,400
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest income						$ 600	$ 400	$ 1,700	$ 600
Level 3 | Jake Marshall Transaction | Contingent Consideration Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of earnout payments			$ 3,100
Level 3 | ACME Industrial piping LLC | Maximum | Contingent Consideration Liability | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout payments, measurement input				0.2164		0.2164		0.2164
Level 3 | ACME Industrial piping LLC | Minimum | Contingent Consideration Liability | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout payments, measurement input				0.1296		0.1296		0.1296
Level 3 | Industrial Air Transaction | Maximum | Contingent Consideration Liability | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout payments, measurement input				0.1368		0.1368		0.1368
Level 3 | Kent Island Transaction | Contingent Consideration Liability | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout payments, measurement input				0.149		0.149		0.149
Level 3 | A&R Wintrust Term Loan - term loan payable in quarterly installments of principal, plus interest through February 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt				$ 10,000		$ 10,000		$ 10,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 54,933	$ 57,709
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	54,933	57,709
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Overnight repurchase agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	50,933	43,959
Overnight repurchase agreements | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	50,933	43,959
Overnight repurchase agreements | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Overnight repurchase agreements | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
U.S. Treasury Bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		10,000
U.S. Treasury Bills | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		10,000
U.S. Treasury Bills | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		0
U.S. Treasury Bills | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		0
Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	4,000	3,750
Money market fund | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	4,000	3,750
Money market fund | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Money market fund | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 0	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Values of the Company's Contingent Earnout Payment Obligations (Details) - USD ($) $ in Thousands	1 Months Ended		13 Months Ended
	Sep. 30, 2024	Apr. 30, 2024	Apr. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	$ 11,008			$ 7,782
Payment to former owners	500	$ 3,000	$ 3,000
Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	0			0
Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	0			0
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	11,008			7,782
First IA Earnout Period
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	2,962			2,290
First IA Earnout Period | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0			0
First IA Earnout Period | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0			0
First IA Earnout Period | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	2,962			2,290
First Kent Island Earnout Period
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	2,230
First Kent Island Earnout Period | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0
First Kent Island Earnout Period | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0
First Kent Island Earnout Period | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	2,230
Second ACME Earnout Period
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	1,567			1,188
Second ACME Earnout Period | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0			0
Second ACME Earnout Period | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0			0
Second ACME Earnout Period | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	1,567			1,188
2023 Jake Marshall Earnout Period
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				3,000
2023 Jake Marshall Earnout Period | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				0
2023 Jake Marshall Earnout Period | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				0
2023 Jake Marshall Earnout Period | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				3,000
First ACME Earnout Period
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				429
First ACME Earnout Period | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				0
First ACME Earnout Period | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				0
First ACME Earnout Period | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability				429
Second IA Earnout Period
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	2,098			875
Second IA Earnout Period | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0			0
Second IA Earnout Period | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0			0
Second IA Earnout Period | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	2,098			$ 875
Second Kent Island Earnout Period
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	2,151
Second Kent Island Earnout Period | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0
Second Kent Island Earnout Period | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	0
Second Kent Island Earnout Period | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, liability	$ 2,151

Earnings per Share - Schedule o

Earnings per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
EPS numerator:
Net income	$ 7,484	$ 5,963	$ 7,586	$ 7,192	$ 5,320	$ 2,993	$ 21,033	$ 15,505
EPS denominator:
Weighted average shares outstanding - basic (in shares)	11,272,798			10,962,622			11,233,847	10,695,973
Impact of dilutive securities (in shares)	754,000			826,000			765,000	976,000
Weighted average shares outstanding - diluted (in shares)	12,027,021			11,789,137			11,998,750	11,671,819
EPS:
Basic (in usd per share)	$ 0.66			$ 0.66			$ 1.87	$ 1.45
Diluted (in usd per share)	$ 0.62			$ 0.61			$ 1.75	$ 1.33

Earnings per Share - Schedule_2

Earnings per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	319	33	508	1,316
Service-based RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	0	64	49
Performance based RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	0	131	153
Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	319	33	313	1,114

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 3,394,000		$ 2,760,000		$ 5,462,000	$ 5,407,000
Income tax rate	31.20%		27.70%		20.60%	25.90%
Effective tax rate		35.10%		10.20%
Valuation allowance	$ 0				$ 0		$ 0

Operating Segments - Narrative

Operating Segments - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Reporting Information [Line Items]
Number of operating segments	2
ODR
Segment Reporting Information [Line Items]
Number of reportable segments	1
GCR
Segment Reporting Information [Line Items]
Number of reportable segments	1

Operating Segments - Schedule o

Operating Segments - Schedule of Condensed Consolidated Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Revenue	$ 133,920	$ 127,768	$ 375,131	$ 373,659
Total gross profit	36,114	31,244	100,710	85,984
Selling, general and administrative	23,748	20,967	69,800	62,433
Change in fair value of contingent consideration	610	161	2,344	464
Amortization of intangibles	868	288	2,956	1,054
Operating income	10,888	9,828	25,610	22,033
Interest expense	(468)	(437)	(1,375)	(1,615)
Interest income	626	377	1,734	624
Gain on disposition of property and equipment	99	68	656	28
Loss on early debt extinguishment	0	0	0	(311)
(Loss) gain on change in fair value of interest rate swap	(267)	116	(130)	153
Total other (expenses) income	(10)	124	885	(1,121)
Income before income taxes	10,878	9,952	26,495	20,912
Operating Segments | ODR
Segment Reporting Information [Line Items]
Revenue	93,007	65,832	250,017	183,330
Total gross profit	29,647	19,274	77,170	52,424
Operating Segments | GCR
Segment Reporting Information [Line Items]
Revenue	40,913	61,936	125,114	190,329
Total gross profit	6,467	11,970	23,540	33,560
Corporate
Segment Reporting Information [Line Items]
Selling, general and administrative	$ 1,600	$ 1,100	$ 4,300	$ 3,400

Leases - Narrative (Details)

Leases - Narrative (Details)		1 Months Ended	3 Months Ended			9 Months Ended
	Dec. 02, 2021 USD ($) extension renewal_option	Jun. 30, 2021 USD ($) ft²	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2022 USD ($) ft²	Sep. 30, 2024 USD ($) extension	Sep. 30, 2023 USD ($)
Office Building | Geographic Distribution, Domestic
Lessee, Lease, Description [Line Items]
Subleased area (in sq ft) | ft²		71,787			16,720
Sublease annual base rent		$ 600,000			$ 800,000
Sublease annual base rent increase percentage		3%			3%
Sublease income			$ 300,000	$ 300,000		$ 900,000	$ 500,000
Real Estate Leases
Lessee, Lease, Description [Line Items]
Number of lease extensions | extension						1
Jake Marshall Transaction | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Number of lease extensions | extension	2
Lease term	10 years
Term of lease extensions	2 years
Jake Marshall Transaction | Lease Contractual Term One | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Lease term	5 years
Monthly base rent	$ 37,500
Jake Marshall Transaction | Lease Contractual Term Two | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Lease term	5 years
Monthly base rent	$ 45,000
ACME Industrial piping LLC | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Number of lease extensions | extension	1
Term of lease extensions	1 year
ACME Industrial piping LLC | Lease Contractual Term One | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Lease term	6 months
Monthly base rent	$ 17,000
ACME Industrial piping LLC | Lease Contractual Term Two | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Lease term	6 months
Monthly base rent	$ 18,000
ACME Industrial piping LLC | Lease Contractual Term Three | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Monthly base rent	$ 19,000
Industrial Air Transaction | Lease Contractual Term One | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Lease term	33 months
Term of lease extensions	3 years
Monthly base rent	$ 26,500
Number of renewal options | renewal_option	2
Extension period	3 years
Industrial Air Transaction | Lease Contractual Term Two | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Monthly base rent	$ 27,563
Extension period	3 years
Industrial Air Transaction | Lease Contractual Term Three | Land and Building | Full Time Employee
Lessee, Lease, Description [Line Items]
Monthly base rent	$ 28,941

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheets Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 29, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 22,312	$ 19,727
Property, plant and equipment, net	10,279	9,561
Total lease assets	32,591	29,288
Current operating lease liabilities	3,964	3,627
Current portion of long-term debt	2,626	2,680
Long-term operating lease liabilities	18,569	16,037
Long-term finance and operating lease obligations	10,871	10,018
Total lease liabilities	36,030	32,362
Operating lease, accumulated amortization	13,000	13,600
Below-market lease	900	1,000
Finance lease, accumulated amortization	5,700	4,500
Purchase of property under sale and leaseback transaction	2,400	2,400	$ 7,800
Financing liability	$ 5,400	$ 5,400
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Finance lease cost, amortization, cost of revenue	$ 816	$ 714	$ 2,310	$ 2,012
Finance lease cost, interest expense, net	128	113	363	265
Total lease cost	2,252	2,005	6,637	5,795
Cost of revenue
Lessee, Lease, Description [Line Items]
Operating lease cost	785	543	2,116	1,626
Cost of revenue | Operating Lease
Lessee, Lease, Description [Line Items]
Variable lease costs	200	100	400	300
Cost of revenue | Finance Lease
Lessee, Lease, Description [Line Items]
Variable lease costs	1,000	900	3,000	2,700
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	523	635	1,848	1,892
Selling, general and administrative expenses | Operating Lease
Lessee, Lease, Description [Line Items]
Variable lease costs	$ 100	$ 200	$ 300	$ 400

Leases - Future Minimum Lease C

Leases - Future Minimum Lease Commitment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finance Lease Obligations
Remainder of 2024	$ 934
2025	3,444
2026	2,941
2027	2,003
2028	1,289
Thereafter	14,144
Total minimum lease payments	24,755
Financing Component	(11,258)
Net present value of minimum lease payments	13,497
Less: current portion of finance and operating lease obligations	(2,626)	$ (2,680)
Long-term finance and operating lease obligations	10,871	10,018
Operating Lease Obligations
Remainder of 2024	1,280
2025	5,162
2026	5,250
2027	4,260
2028	3,328
Thereafter	7,539
Total minimum lease payments	26,819
Financing Component	(4,286)
Net present value of minimum lease payments	22,533
Less: current portion of finance and operating lease obligations	(3,964)	(3,627)
Long-term finance and operating lease obligations	18,569	16,037
Sublease Receipts
Remainder of 2024	231
2025	939
2026	967
2027	326
2028	0
Thereafter	0
Total minimum lease payments	2,463
Non-Related Party
Operating Lease Obligations
Remainder of 2024	1,035
2025	4,397
2026	4,480
2027	3,389
2028	2,457
Thereafter	2,542
Total minimum lease payments	18,300
Financing Component	(2,386)
Net present value of minimum lease payments	15,914
Less: current portion of finance and operating lease obligations	(3,483)
Long-term finance and operating lease obligations	12,431
Related Party
Operating Lease Obligations
Remainder of 2024	245
2025	765
2026	770
2027	871
2028	871
Thereafter	4,997
Total minimum lease payments	8,519
Financing Component	(1,900)
Net present value of minimum lease payments	6,619
Less: current portion of finance and operating lease obligations	(481)
Long-term finance and operating lease obligations	6,138
Vehicles
Finance Lease Obligations
Remainder of 2024	803
2025	2,916
2026	2,399
2027	1,448
2028	720
Thereafter	411
Total minimum lease payments	8,697
Financing Component	(551)
Net present value of minimum lease payments	8,146	7,347
Less: current portion of finance and operating lease obligations	(2,626)
Long-term finance and operating lease obligations	5,520
Pontiac Facility
Finance Lease Obligations
Remainder of 2024	131
2025	528
2026	542
2027	555
2028	569
Thereafter	13,733
Total minimum lease payments	16,058
Financing Component	(10,707)
Net present value of minimum lease payments	5,351	$ 5,351
Less: current portion of finance and operating lease obligations	0
Long-term finance and operating lease obligations	$ 5,351

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Discount Rates (Details)		9 Months Ended
	Sep. 29, 2022	Sep. 30, 2024	Dec. 31, 2023
Weighted average lease term (in years):
Operating		6 years 1 month 6 days	6 years 6 months 14 days
Finance		3 years 4 months 20 days	3 years 1 month 6 days
Weighted average discount rate:
Operating		5.94%	6.74%
Finance		6.40%	5.33%
Lease agreement, term	25 years
Discount rate	11.11%	11.11%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 3,778	$ 3,478
Operating cash flows from finance leases	361	227
Financing cash flows from finance leases	2,179	2,032
Operating leases	4,776	1,043
Finance leases	3,095	4,062
Right of use assets disposed or adjusted modifying operating lease liabilities	988	(643)
Right of use assets disposed or adjusted modifying finance lease liabilities	$ 0	$ (77)

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Payment to acquire workers' compensation and general liability insurance	$ 250
Malpractice insurance, annual coverage limit	3,900
Surety Bond
Loss Contingencies [Line Items]
Debt outstanding	$ 62,800

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Components of Self-Insurance (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Current liability — workers’ compensation and general liability	$ 209	$ 188
Current liability — medical and dental	556	819
Non-current liability	699	645
Total liability	1,464	1,652
Restricted cash	$ 65	$ 65

Management Incentive Plans - Na

Management Incentive Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,600	$ 1,100	$ 4,323	$ 3,374
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period			3 years
Stock-based compensation expense	500	500	$ 1,600	1,200
RSUs | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period			1 year
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period			3 years
Stock-based compensation expense	1,100	$ 700	$ 2,700	2,200
PRSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares to be issued under grant			0%
PRSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares to be issued under grant			150%
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards vested			$ 16,900	$ 3,800
Unrecognized share-based costs	$ 6,600		$ 6,600
Weighted average period to recognize share-based costs			1 year 9 months 7 days
2021 Amended And Restated Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	3,050,000		3,050,000

Management Incentive Plans - RS

Management Incentive Plans - RSUs Activity (Details) - RSUs	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Awards
Unvested at beginning of period (in shares) | shares	239,203
Granted (in shares) | shares	54,747
Vested (in shares) | shares	(140,248)
Forfeited (in shares) | shares	(1,314)
Unvested at end of period (in shares) | shares	152,388
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in usd per share) | $ / shares	$ 11.09
Granted (usd per share) | $ / shares	45.77
Vested (usd per share) | $ / shares	11.62
Forfeited (usd per share) | $ / shares	45.47
Unvested, ending balance (in usd per share) | $ / shares	$ 22.76

Management Incentive Plans - PR

Management Incentive Plans - PRSUs Activity (Details) - PRSUs - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Awards
Unvested at beginning of period (in shares)	580,621
Granted (in shares)	84,869
Performance factor adjustment (in shares)	54,067	54,067
Vested (in shares)	(211,634)
Forfeited (in shares)	(2,628)
Unvested at end of period (in shares)	505,295
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in usd per share)	$ 10.85
Granted (usd per share)	45.58
Performance factor adjustment (usd per share)	12.78
Vested (usd per share)	12.78
Forfeited (usd per share)	45.47
Unvested, ending balance (in usd per share)	$ 15.90
Performance factor (percent)		134.30%
Pre-defined metric target, (percent)		100%