TIC Solutions Reports 56% Revenue Growth to $473.9 Million in Q3 2025

TIC Solutions, Inc. (formerly Acuren Corporation) reported significant financial results for the third quarter of 2025, reflecting a substantial increase in revenue and ongoing operational adjustments following its recent acquisitions. For the three months ended September 30, 2025, the company generated revenue of $473.9 million, a 56% increase from $201.5 million in the same period last year. This growth was primarily driven by the acquisition of NV5 Global, Inc., which contributed approximately $180.7 million in revenue. However, excluding this acquisition, revenue decreased by $9.8 million due to lower project activity in certain sectors.

The company's cost of revenue also rose, totaling $321.2 million for the quarter, up 41% from $152.3 million a year earlier. This increase was largely attributed to the costs associated with the NV5 acquisition, which added $94.9 million in expenses. Despite the overall increase in revenue, the gross profit margin improved to 32.2%, up from 24.4% in the previous year, indicating enhanced profitability from the newly integrated services of NV5, which typically yield higher margins.

In terms of operational metrics, TIC Solutions reported a net loss of $13.9 million for the quarter, a significant reduction from a loss of $89.8 million in the same period last year. The company’s selling, general, and administrative expenses increased to $140.5 million, reflecting the costs associated with the NV5 acquisition and ongoing integration efforts. The company also incurred transaction costs of $18.8 million related to the acquisition activities.

As of September 30, 2025, TIC Solutions had total assets of $4.2 billion, a substantial increase from $2.2 billion at the end of 2024, primarily due to the acquisition of NV5. The company’s long-term debt rose to $1.6 billion, reflecting new borrowings to finance the acquisition. The company reported a total of 202 million shares of common stock outstanding, following the issuance of shares as part of the acquisition consideration.

Looking ahead, TIC Solutions anticipates continued integration of NV5 and expects to leverage its expanded service offerings to drive future growth. The company is also monitoring economic conditions, including inflation and potential impacts from geopolitical events, which may affect its operations and market demand. Management remains focused on enhancing internal controls and financial reporting processes to address previously identified weaknesses, aiming to strengthen the overall financial health of the organization.