Short answer
Willdan Group, Inc. (WLDN) filed its fiscal 2026 10-K annual report with the SEC on Feb 27, 2026.
- Top risk flagged: Cybersecurity breach risk with potential operational disruption and reputational harm despite ongoing audits and Board-level risk oversight
Willdan Group, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Provider of energy, engineering, and consulting solutions for public and private sectors
- No new products, services, or segments disclosed in the 2026 filing text provided
- Emphasis on governance and shareholder information incorporated by reference, indicating focus on transparency and shareholder relations
- Proxy Statement for 2026 Annual Meeting filing within 120 days after fiscal year-end, outlining executive compensation and ownership details
- No quantitative business metrics or strategic shifts disclosed in the provided 2026 Business section excerpt
Management Discussion & Analysis
- Revenue $681.6M in fiscal 2025, up 20.5% YoY from $565.8M in 2024; Energy segment up $102.7M (21.7%), Engineering and Consulting up $13.1M (14.1%)
- Gross margin improved to 37.5% in 2025 from 35.8% in 2024; operating income margin 6.5% vs 5.5% with operating income $44.1M vs $31.4M
- Best segment: Energy $576.1M revenue (84.5% of total), +21.7%; Worst segment: Engineering and Consulting $105.5M, +14.1% but lower revenue base
- Operating cash flow $80.1M in 2025; $45.6M used in investing (acquisitions, software, capex); financing cash outflow $42.7M mainly debt repayment and taxes on stock grants
- Forward outlook includes growth via acquisitions and increased demand in energy efficiency; key risks include interest rates, utilization of contingent earnouts, and contract mix changes
Risk Factors
- Cybersecurity breach risk with potential operational disruption and reputational harm despite ongoing audits and Board-level risk oversight
- Dependency on third-party service providers’ cybersecurity, with vendor assessments and contractual security obligations to mitigate risks
- Cybersecurity incident escalation includes direct involvement of Company CEO, CFO, General Counsel signaling key-person dependency in crisis response
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