v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (27,414) $ (502)
Adjustments to reconcile net loss to net cash provided by operating activities    
Depreciation and amortization 23,730 19,572
Non-cash compensation expense 64,874 712
Loss on extinguishment of debt (non-cash portion) 6,676 0
Write off of project development costs 3,939 0
Other 152 7
Change in operating assets and liabilities (57,716) 386
Net cash provided by operating activities 14,241 20,175
Cash flows from investing activities:    
Purchases of property and equipment (10,440) (2,778)
Cash paid for acquisitions, net of cash acquired 0 (10,756)
Net cash used in investing activities (10,440) (13,534)
Cash flows from financing activities:    
Issuance of Class A common stock in IPO, net of underwriting discount 552,542 0
Repayment of term debt (405,203) (1,015)
Payment of deferred acquisition consideration (5,500) 0
Payment of offering costs (3,536) 0
Proceeds on debt 0 32,500
Payment of debt issuance costs (2,800) 0
Payments for finance leases (2,901) (1,979)
Proceeds on equipment financing 0 14,500
Payments on equipment financing (1,523) (1,764)
Distributions to members of SOLV Energy Holdings LLC (144,845) (47,844)
Net cash used in financing activities (13,766) (5,602)
Net increase (decrease) in cash and cash equivalents (9,965) 1,039
Cash and cash equivalents, beginning of period 394,876 207,987
Cash and cash equivalents, end of period 384,911 209,026
Supplemental cash flow information    
Interest paid 8,572 12,073
Income taxes paid 0 0
Supplemental disclosure of non-cash financing activities:    
Deferred offering costs in accounts payable 1,939 0
Deferred offering costs reclassified to APIC $ 9,843 $ 0