Willdan Group Inc 2025年季度报告

Washington, D.C.20549 FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THESECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedApril 4, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THESECURITIES EXCHANGE ACT OF 1934 For the transition period fromtoCommission file number001-33076 Indicate by check mark whether the registrant: (1)has filed all reports required to be filed bySection13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months (or forsuch shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90 days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive DataFile required to be submitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter)during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, a smaller reporting company, or an emerging growth company. See thedefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer◻ Non-accelerated filer◻ If an emerging growth company, indicate by check mark if the registrant has elected not to usethe extended transition period for complying with any new or revised financial accounting standardsprovided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of theExchange Act). Yes◻No⌧ As of May 7, 2025, there were14,496,824shares of common stock, $0.01 par value per share, ofWilldan Group,Inc. issued and outstanding. WILLDAN GROUP,INC.FORM10-Q QUARTERLY REPORT TABLE OF CONTENTS PARTI. FINANCIAL INFORMATION3Item 1. Financial Statements (Unaudited)3Item 2. Management’s Discussion and Analysis of Financial Condition and Results ofOperations36Item 3. Quantitative and Qualitative Disclosures About Market Risk46Item 4. Controls and Procedures48PARTII. OTHER INFORMATION49Item 1. Legal Proceedings49Item 1A. Risk Factors49Item 2. Unregistered Sales of Equity Securities and Use of Proceeds49Item 3. Defaults upon Senior Securities50Item 4. Mine Safety Disclosures50Item 5. Other Information50Item 6. Exhibits52 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This Quarterly Report on Form 10-Q (this “10-Q”) contains statements that constituteforward-looking statements as that term is defined by the Private Securities Litigation Reform Act of1995, as amended. These statements concern our business, operations and financial performance andcondition as well as our plans, objectives and expectations for our business operations and financialperformance and condition, which are subject to risks and uncertainties. All statements other thanstatements of historical fact included in this 10-Q are forward-looking statements. These statementsmay include words such as “aim,” “anticipate,” “assume,” “believe,” “can have,” “could,” “due,”“estimate,” “expect,” “goal,” “intend,” “likely,” “may,” “objective,” “plan,” “potential,” “positioned,”“predict,” “should,” “target,” “will,” “would” and other words and terms of similar meaning inconnection with any discussion of the timing or nature of future operating or financial performance orother events or trends. For example, all statements we make relating to our plans and objectives forfuture operations, growth or initiatives and strategies are forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts andprojections about our business and the industry in which we operate and our management’s beliefsand assumptions. We derive many of our forward-looking statements from our own operating budgetsand forecasts, which are based upon many detailed assumptions. While we believe that ourassumptions are reasonable, we caution that predicting the impact of known factors is very difficult,and we cannot anticipate all factors that could affect our actual results. All of our forward-looking statements are subject to risks and uncertainties that may causeour actual results to differ materially from our expectations. Important factors that could cause actualresults to differ materially from our expectations include, but are not limited to: ●our ability to adequately complete projects in a timely manner;●our ability to compete successfully in the highly competitive energy services market,which represented 84% of our consolidated revenue in fiscal year 2024;●our reliance on work from our top ten clients, which accounted for 51% of ourconsolidated contract revenue for fiscal year 2024;●changes in state, local and regional economies and government budgets;●our ability to win new contracts, to renew ex