- Stellar J Corp - OR
- 2026
- 8
- 0
- 0.00%
- $0
- 0.00%
- 13.85%
- 5.99%
- $74,404,701
- Stellar J Corp - WA
- 2026
- 14
- 4
- 28.57%
- $16,458,827
- 13.28%
- 17.62%
- 10.51%
- $54,676,105

Current backlog of **$3.76M** across two active projects provides limited near-term revenue visibility, with **$564K** and **$3.20M** remaining respectively. Improved 2026 success rate of 28.6% on **$54.68M** total bids supports modest cash inflows from recent awards. Cash flow remains constrained until additional contracts convert to active status.
Medium-term Outlook (6-12 months)
Sustained bidding momentum from 2025-2026 trends could expand backlog beyond current **$3.76M** levels if win rates hold. Long project durations of 120-355 months offer extended execution runway but minimal near-term acceleration. Revenue stability hinges on converting pipeline into executed work.
Key Risk Period
The period immediately following depletion of existing **$3.76M** backlog poses the highest cash flow pressure, given historically low 2025 volume of **$10.39M**. Extended contract durations delay recognition of full award values.
Recommendations
Prioritize aggressive bidding to rebuild backlog above **$15M** annually while monitoring margin leakage on low bids. Secure bridge financing to cover gaps until new awards mobilize.
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