Welcome to our dedicated page for SHIMMICK CORPORATION SEC filings (Ticker: SHIM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Shimmick Corporation filings document a public infrastructure contractor focused on water, electrical, and other critical infrastructure construction services. Its Form 8-K reports include earnings releases, backlog and new-awards disclosures, project-mix commentary, executive appointments, board-transition matters, and material financing arrangements such as common-stock offering agreements and shelf-registration activity.
Proxy materials describe annual meeting proposals, board structure, executive compensation, equity incentives, indemnification arrangements, and governance oversight. The filing record also documents Shimmick’s strategy to concentrate on technically aligned work, complete and exit lower-margin non-core projects, and improve operating consistency through execution and cost control.
Shimmick Corporation files its Annual Report describing a water-focused and critical infrastructure construction business with strong roots in California and a growing national footprint. The company delivers dams, reservoirs, water and wastewater treatment, climate resilience, transportation and energy transition projects, often self-performing key scopes.
As of January 2, 2026, Shimmick reports project backlog of approximately $793 million, mostly in California with work in six other states, and non‑affiliate equity market value of about $13.1 million. It had 36,091,730 common shares outstanding and 971 employees, including 590 craft workers.
Management highlights a shift from legacy large, higher‑risk jobs toward smaller and mid‑sized, higher‑margin projects, launch of electrical subsidiary Axia Electric LLC, investments in digital project controls, and expanded collaborative contracting. Safety remains a focus, with 2025 total recordable incident rate of 1.39 and a 33.3% reduction in lost‑time incidents versus 2024. Extensive risk factors cover fixed‑price contract exposure, bonding, reliance on public funding, California concentration, labor availability, regulation, climate and economic conditions.
Shimmick Corporation reported sharply improved fourth-quarter and full-year 2025 results, though it remains unprofitable. Q4 2025 revenue was $100 million versus $104 million a year earlier, but gross margin swung to a $10 million profit from a $21 million loss and net loss narrowed to $2.9 million from $38.5 million.
For 2025, revenue rose to $493 million from $480 million and gross margin improved to $34 million from a $56 million loss, while net loss narrowed to $25.6 million from $124.7 million. Adjusted EBITDA turned positive at $4.8 million for the year, compared with a $61.4 million loss in 2024.
Backlog was about $793 million as of January 2, 2026, with a Q4 book‑to‑burn ratio of 1.4x and $139 million in new awards. Management expects 2026 consolidated revenue of $550–$600 million and Adjusted EBITDA of $15–$30 million, implying strong growth if achieved.
Shimmick Corporation reported lower activity and a modest quarterly loss. For the three months ended October 3, 2025, revenue was $141.9 million and net loss was $4.4 million. Gross margin was $10.8 million against selling, general and administrative expenses of $14.3 million.
Year to date, revenue reached $392.4 million and net loss narrowed to $22.5 million from $86.3 million a year earlier. Operating cash flow for the nine months used $65.7 million, reflecting working capital swings typical of long-duration projects. Cash and cash equivalents were $17.6 million as of October 3, 2025.
Debt increased as the company added facilities to support operations and bonding needs: total debt, net, was $57.5 million (including $33.6 million under the Credit Agreement, $14.3 million under the ACF Credit Agreement and $13.0 million under the Ansley Loan Agreement). The company reported remaining performance obligations of $716 million with a weighted average life of 2.5 years, and a disclosed backlog of approximately $754 million as of October 3, 2025.
Shimmick Corporation furnished a press release announcing financial results for the third quarter ended October 3, 2025. The release is included as Exhibit 99.1 and was provided under a current report on Form 8‑K.
The company states the press release includes backlog and new awards data. Backlog represents the total dollar value of contracted work remaining and is adjusted for cancellations, deferrals, scope changes, and cost revisions. New awards reflect the dollar value of contracts executed during the period.
Shimmick Corporation entered into an at-the-market offering agreement with Roth Capital Partners to sell up to $7,800,000 of its common stock from time to time. Roth will act as sales agent, placing shares in at-the-market offerings under the company’s effective Form S-3 shelf registration and a related prospectus supplement dated September 8, 2025.
Shimmick is not required to sell any shares under this agreement and either party can suspend or terminate the offering before the full amount is sold. The company will pay Roth a cash commission of up to 3% of the gross proceeds from each share sale and reimburse up to $50,000 of documented legal fees. The agreement includes customary representations, covenants, and indemnification provisions for the sales agent.
Shimmick Corporation's prospectus supplement discloses securities and governance items relevant to a contemplated offering and references key risk factors. The company notes certain emerging-growth-company accommodations under the JOBS Act, including reduced historical financial statement requirements, extended transition for new accounting standards, scaled-back executive compensation disclosures, exemptions from advisory compensation votes and an exemption from auditor attestation of internal control under Section 404. The filing lists 1,865,608 common shares issuable on outstanding options at a weighted-average exercise price of $1.26, 2,594,768 restricted stock units outstanding, and 2,430,608 additional shares reserved under equity plans. The prospectus reiterates extensive operational and market risks, including contract-bidding accuracy, fixed-price contracts, dependency on subcontractors and suppliers, limited customer base, liquidity and covenant risks, cybersecurity, regulatory and geopolitical risks, and potential impacts from inflation and elevated interest rates.
Mitchell B. Goldsteen, a director and 10% owner of Shimmick Corporation (SHIM), sold a total of 25,206 shares under a pre-existing Rule 10b5-1 plan. The Form 4 discloses two dispositions: 10,500 shares on 08/28/2025 at a weighted-average price of $3.18 and 14,706 shares on 08/29/2025 at a weighted-average price of $2.96. After these transactions, the reporting person beneficially owned 21,099,873 shares indirectly through GOHO, LLC, of which he is the sole managing member. The sales were effected pursuant to a 10b5-1 plan adopted on August 20, 2024, and were reported by power of attorney on 09/02/2025.
Shimmick Corporation (SHIM) filed a Form 144 reporting a proposed sale of 14,706 common shares through TD Securities (USA) LLC with an aggregate market value of $43,451.82. The filing lists the approximate date of sale as 08/29/2025 and identifies NASDAQ as the exchange. It records that the securities were originally acquired on 12/09/2020 in a private acquisition from GOHO LLC, showing 21,908,800 shares acquired on that date. The filing also discloses numerous recent sales by Mitchell B. Goldsteen of common shares across dates from 05/29/2025 through 08/28/2025, with individual trade amounts and gross proceeds reported.
Shimmick Corporation Form 144 notice reports a proposed sale of 10,500 common shares through TD Securities (USA) LLC with an aggregate market value of $33,393.15 and an approximate sale date of 08/28/2025. The filing shows these shares were acquired on 12/09/2020 in a private acquisition from GOHO LLC, and the issuer had 34,361,459 shares outstanding at the time reported. The document also discloses extensive prior sales by Mitchell B. Goldsteen across many dates in May–August 2025, including a large 30,805-share sale on 08/15/2025 for $68,679.75. The filer affirms no undisclosed material adverse information and provides standard Rule 144 representations.
Mitchell B. Goldsteen, a director and reported 10% owner of Shimmick Corporation (SHIM), sold 9,229 shares of SHIM common stock on 08/27/2025 at a weighted average price of $3.32 per share. The filing states the sales were executed under a Rule 10b5-1 trading plan adopted by the reporting person on 08/20/2024 and that the individual holds 21,125,079 shares indirectly through GOHO, LLC, of which he is the sole managing member. The reported per-share trades occurred at prices ranging from $3.30 to $3.36. The Form 4 was signed by John Carpenter under power of attorney for Mr. Goldsteen.