TIC Solutions Inc
tics.comWhat Do They Do?
Inspects and maintains industrial assets, designs infrastructure and buildings, and provides geospatial data services for industrial, public-sector and utility clients.
10-K for FY2025, filed Mar 12, 2026Our Inspection and Mitigation services include Nondestructive Testing (“NDT”) and Rope Access Technician (“RAT”) solutions. NDT involves…View ↗
Our Consulting Engineering services include engineering design, conformity assessment, infrastructure engineering, building and technology…View ↗
Our Geospatial services provide data collection, data analytics, and software solutions that support asset management and infrastructure…View ↗
Inspection and Mitigation. Clients in this segment are primarily industrial operators including energy, chemicals, refining, and…View ↗
Consulting Engineering. Clients in this segment include federal, state, and local government agencies, public utilities, industrial…View ↗
Geospatial. Clients in this segment include public-sector entities such as defense and intelligence agencies, civil agencies, and state and…View ↗
How Do They Make Money?
Industrial inspection clients pay for labor and project expenses under time-and-materials or cost-plus arrangements; most services earn revenue as work progresses. Engineering and geospatial work is also project-based, while geospatial software subscriptions bring in recurring fees; some reports and analyses are billed at completion, delivery or acceptance.
10-K for FY2025, filed Mar 12, 2026We contract under a mix of time-and-materials, cost-plus, fixed-price, and unit-rate arrangements, with the mix varying by segment.…View ↗
time and material contracts, which are common for smaller scale professional and technical consulting and certification services projects.…View ↗
Performance obligations are generally satisfied over time as work progresses or services are rendered, because the customer simultaneously…View ↗
Performance obligations in certain contract are satisfied at a point in time. Revenue for these services is recognized when control of the…View ↗
Consulting Engineering. Clients in this segment include federal, state, and local government agencies, public utilities, industrial…View ↗
Public-sector clients account for a significant share of demand. Private utilities and transportation operators also represent important…View ↗
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10-K for FY2025, filed Mar 12, 2026
FY2025 revenue by reportable segment ↗
$1.5B
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10-K for FY2025, filed Mar 12, 2026
$1.5B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Inspection and Mitigation
Recurring
10-K for FY2025, filed Mar 12, 2026 |
72% |
Inspection and Mitigation, FY2025
$1.1B Sources
|
Recurring |
|
Consulting Engineering
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
20% |
Consulting Engineering, FY2025
$300.1M Sources
|
Sold outright |
|
Geospatial
|
8.6% |
Geospatial, FY2025
$131.3M Sources
|
Who Are Their Customers?
Industrial operators engage the company under multi-year agreements for inspection and maintenance; public agencies and infrastructure clients hire it for engineering or geospatial projects and software subscriptions.
10-K for FY2025, filed Mar 12, 2026Inspection and Mitigation. Clients in this segment are primarily industrial operators including energy, chemicals, refining, and…View ↗
Consulting Engineering. Clients in this segment include federal, state, and local government agencies, public utilities, industrial…View ↗
Geospatial. Clients in this segment include public-sector entities such as defense and intelligence agencies, civil agencies, and state and…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $87.1M in FY2025, but brought in more cash than it spent: $61.3M of free cash flow.
10-K for FY2025, filed Mar 12, 2026
−$17.1MView ↗
10-K for FY2025, filed Mar 12, 2026
−$87.1MView ↗
10-K for FY2025, filed Mar 12, 2026
$61.3MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$13.3MView ↗
- ▲ +5626% (Loss)
- vs −$233K in Q2 FY2025
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Aug 6, 2026
Reaffirmed the full-year 2026 financial outlook
Reaffirmed revenue of $2,150 to $2,250 million and adjusted EBITDA of $330 to $355 million.
Sources
8-K, filed Aug 6, 2026
Revenue of $2,150 to $2,250 million Adjusted EBITDA of $330 to $355 millionView ↗
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