Short answer
TIC Solutions, Inc. (TIC) filed its fiscal 2025 10-K annual report with the SEC on Mar 12, 2026. It reported revenue of $1.5B (+141.4% year over year) and net income of −$87M.
- Top risk flagged: Regulatory risk: Non-compliance with ITAR, EAR export controls and OSHA safety standards may lead to material financial or legal penalties
FY2025 key financial metrics · XBRL
- Revenue
- $1.5B
- +141.4% YoY
- Net income
- −$87M
- +17.4% YoY
- Operating margin
- -1.1%
- +11.9 pp YoY
- Gross margin
- 29.4%
- +3.8 pp YoY
- ROE
- -4.0%
- +5.2 pp YoY
- Operating cash flow
- $95M
- +3514.2% YoY
Source: XBRL data from the TIC Solutions, Inc. (TIC) FY2025 10-K on SEC EDGAR. USD.
TIC Solutions, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Tech-enabled Testing, Inspection, Certification, Compliance (TICC), engineering, and geospatial services for industrial and infrastructure assets
- NV5 Global acquisition on Aug 4, 2025, adding engineering and geospatial services, prompting company name change to TIC Solutions, Inc. on Oct 10, 2025
- Strategic shift: Expanded integrated service offering combining NDT, rope access, environmental consulting, and geospatial analytics for full asset life cycle
- Employee and operational scale increase implied by acquisition, broadening geographic footprint to US, Canada, Europe, Asia, Middle East
- Emphasis on digital transformation with drone-enabled inspections, LiDAR, and subscription-based geospatial software enhancing data analytics and recurring revenues
Management Discussion & Analysis
- Revenue $1.53B in 2025 (Successor) vs $1.05B in 2023; Inspection and Mitigation up 0.1% ($1.1B vs $633.9M)
- Operating segments: Inspection and Mitigation gross profit $240.6M (down 9.4% YoY), Consulting Engineering $142.5M, Geospatial $66.3M in 2025
- Best performing segment by gross profit: Inspection and Mitigation $240.6M; worst: Geospatial $66.3M in 2025
- Operating cash flow $95.0M in 2025, up $72.0M YoY; investing cash flow used $874.1M vs $58.0M prior; financing cash flow provided $1.1B
- Outlook: Sufficient liquidity via $1.6B term loans, no revolving credit use; management cites risks from regional and sector softness impacting margins
Risk Factors
- Regulatory risk: Non-compliance with ITAR, EAR export controls and OSHA safety standards may lead to material financial or legal penalties
- Geopolitical risk: Revenue materially affected by Russia-Ukraine conflict, Hamas-Israel conflict, and tariffs on China and Canada impacting global oil and gas clients
- Operational risk: 12.9% unionized workforce risks strikes causing revenue decline and potential contract loss
- Competitive risk: Competitors with low overhead and niche pricing threaten market share and margins in fragmented TICC and related markets
- Financial risk: Material weaknesses in internal controls over financial reporting may impair timely, accurate financial disclosures and stock price stability
Generated from the filing text; verify against the original. How to read a 10-K
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