- Integrated Concepts
- 2026
- 6
- 2
- 33.33%
- $678,722
- 13.56%
- 8.15%
- 13.58%
- $8,182,138

Mobilization on the **$678,722** in 2026 awards will commence, generating modest early cash inflows from the **$814,576** total backlog across three long-duration water main projects. Limited near-term revenue ramp is expected given 40-60 month schedules and typical front-loaded mobilization costs.
Medium-term Outlook (6-12 months)
Steady progress billings on the Pembroke, Eagle Canyon, and Tholl Drive contracts should produce consistent cash flow through mid-2027, supported by the current **$814k** backlog. The 33.3% 2026 win rate and minimal 2025 bidding volume indicate constrained growth without new awards.
Key Risk Period
Backlog depletion becomes material beyond 12 months as the three active projects extend well into 2029-2030, exposing the firm to revenue gaps if bidding activity remains at 2025-2026 levels.
Recommendations
Aggressively increase bid volume in 2026 to rebuild pipeline; prioritize shorter-duration or higher-margin opportunities to improve cash conversion and reduce concentration risk in long-term NV water work.
- Terminal Tank Entrance Improvements
- Truckee Meadows Water Authority
- $258,854
- 7/30/26
- South Valleys Regional Park Expansion Phase 2
- Washoe County
- $2,895,854
- 5/19/26
- Pembroke Main Relocation
- Truckee Meadows Water Authority
- $338,842
- 2/5/26
- Carter Dr Frandsen Cir Suda Way Main Replacement
- Truckee Meadows Water Authority
- $1,349,854
- 1/29/26
- Eagle Canyon PRS Bypass Main
- Truckee Meadows Water Authority
- $339,880
- 1/29/26
- Prater Way Main Replacement
- Truckee Meadows Water Authority
- $2,688,854
- 1/20/26
- Turbine Way Main Replacement
- Truckee Meadows Water Authority
- $568,854
- 1/8/26



