Willdan Group Inc 2025年度报告

FOR THE YEAR ENDED JANUARY 2, 2026 To Our Shareholders: Willdan delivered another year of record financial performance in 2025, reflecting continuedexecution of our long-term strategy and our position in a rapidly evolving energy andinfrastructure market. Organic net revenue grew 17%, and we delivered strong growth acrosskey metrics, expanded EBITDA margin, and generated robust cash flow while maintaining anet cash position on our balance sheet. These results were driven by broad-basedperformance across our service lines and customer base. This performance demonstratesour ability to deliver technical solutions that create value for our clients as they navigateincreasingly complex energy and infrastructure challenges. Strategic growth initiatives also progressed through disciplined acquisitions. Since late2024, four acquisitions have expanded both capabilities and geographic reach. The largestof these was Alternative Power Generation in March 2025, strengthening our position inelectrical engineering and data center infrastructure, including substation development andgrid interconnection. Additional acquisitions within our Engineering and Consulting segmentextended our geographic footprint and broadened our service oƯerings. Together, theseinvestments enhance our ability to support clients across the full lifecycle of energyinfrastructure projects. The market environment continues to evolve in ways that align with our strengths. After morethan a decade of relatively flat demand, electricity load growth has returned in the UnitedStates,driven by artificial intelligence,data centers,electrification,and domesticmanufacturing. These trends are increasing grid complexity and elevating the importance ofreliability and aƯordability. Willdan is positioned as a trusted advisor, helping utilities,communities, and industry plan, design, and deliver solutions to meet these challenges. Disciplined capital allocation remains a priority, with reinvestment focused on organicgrowth and targeted acquisitions that position the business in high-growth markets. Thisapproach is designed to generate the best long-term outcomes for our shareholders. Looking ahead, the next phase of growth is centered on scaling the business whilecontinuing to build the capabilities required to support larger, more complex energyinfrastructure projects. A clear path exists to grow into a multi-billion-dollar revenuecompany, supported by sustained demand for electrical infrastructure and an expandingrole with commercial clients. Executing at scale will require continued discipline. That same focus on consistent client execution and thoughtful investment will guide our next stage.Willdan’s opportunity has never been greater. We are building Willdan to compete—and win—at a much larger scale. To our employees—thank you for your technical expertise, dedication, and the work you doevery day to deliver for our clients. To our clients and partners—thank you for your continued trust. And to our shareholders—thank you for your confidence and support. Sincerely, Mike BieberPresident and Chief Executive OƯicer UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K(Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the Fiscal Year Ended January 2, 2026.Or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934For the Transition Period fromto.Commission File Number 001-33076WILLDAN GROUP, INC.(Exact name of registrant as specified in its charter)Delaware(State or other jurisdiction ofincorporation or organization)14-1951112(I.R.S. EmployerIdentification No.)2401 East Katella Avenue, Suite 300, Anaheim, California 92806(Address of principal executive offices) (Zip Code)(800) 424-9144(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s)Name of ExchangeCommon Stock, par value $0.01 per shareWLDNThe Nasdaq Stock Market LLC(Nasdaq Global Market) Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. YesNo Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for