Performance was driven by significant tailwinds in data centers and infrastructure, with data center revenue doubling in 2025 to nearly $70 million.

The Inspection and Mitigation (I&M) segment faced localized softness in the Gulf Coast due to LNG construction timing and slower chemical activity, alongside elevated competitive intensity.

Management maintained pricing integrity in I&M despite aggressive competitor behavior, prioritizing long-term economics over short-term volume gains.

The Geospatial (GEO) segment experienced temporary procurement delays due to a federal funding lapse, though management noted no material cancellations occurred.

Operational refinements included reorganizing I&M into regional P&Ls to improve resource deployment and streamlining support functions to reduce duplication.

Strategic positioning is anchored in a recurring revenue base of compliance-driven services, providing visibility and resiliency across economic cycles.

2026 revenue guidance of $2.15 billion to $2.25 billion assumes approximately 4% growth, supported by a 10% year-over-year increase in total backlog.

Management expects data center revenue to reach nearly $100 million in 2026, driven by contracted backlog and expanded service scope per site.

The company is targeting $25 million in total cost synergies, with approximately half expected to be realized during 2026 and full run-rate by mid-2027.

EBITDA guidance includes an $8 million headwind from reclassifying NV5's incentive program from stock-based to cash compensation to align the organizational structure.

The rollout of 'GEO Agent,' a proprietary AI-enabled geospatial platform, is expected to improve processing efficiency and enable higher-value analytics in the coming weeks.

Ben Heraud will succeed Tal Pizzey as CEO on March 31, 2026, a planned transition intended to ensure continuity following the NV5 combination.

A new $200 million share repurchase program was authorized to provide opportunistic flexibility alongside the primary goal of deleveraging toward a sub-3x net leverage ratio.

The company completed a $250 million private placement in October to strengthen the balance sheet and fund growth opportunities.

Integration efforts are shifting toward system implementation and cultural alignment following the successful rebranding to TIC Solutions.

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Management confirmed they are ahead of schedule on integration milestones, with 60% of the $25 million synergy target expected to come from headcount rationalization.

Current focus areas include compensation alignment studies and selecting system implementation partners.

Management highlighted a recent win applying advanced NDT inspection capabilities to the data center vertical, a new market for the I&M segment.

A multiyear bridge infrastructure project was cited as a prime example of integrating drone-based LiDAR, engineering, and inspection services.

The Middle East represents only about 1% of total revenue, making direct geopolitical impacts relatively immaterial to the business.

Higher oil prices are viewed as a potential tailwind for the oil sands and pipeline inspection businesses, while refinery demand remains stable.

The $8 million EBITDA impact from the compensation change is described as a necessary investment to create a unified, market-based structure across the combined entity.

Management believes this shift is critical for talent retention and cultural cohesion during the integration phase.

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