Willdan Posts 23.1% Net Revenue Growth to $364.8M, Guides $85M–$90M EBITDA
Willdan Group reported fiscal 2025 contract revenues up 20.5% to $681.6M and net revenues rising 23.1% to $364.8M, with energy services comprising 85% of its business. The company projects 2026 net revenues of $390M–$405M and adjusted EBITDA of $85M–$90M as AI data center demand, electrification, grid modernization expand its market.
1. Fiscal 2025 Financial Performance
Willdan delivered contract revenues of $681.6 million, up 20.5% year over year, and net revenues of $364.8 million, a 23.1% increase. Energy-related services, including efficiency program management and grid modernization consulting, accounted for approximately 85% of total revenues.
2. Growth Drivers and Market Trends
Rising electricity demand driven by AI data centers, broader electrification efforts and grid modernization is expanding Willdan’s addressable market. Utilities and municipalities are boosting investments in efficiency programs and resiliency upgrades, where Willdan’s specialized expertise positions it to capture new contracts.
3. Fiscal 2026 Guidance
Management forecasts net revenues of $390 million to $405 million and adjusted EBITDA of $85 million to $90 million for fiscal 2026. This guidance assumes continued strength in energy services and execution on existing project backlog.
4. Competitive Landscape
Willdan competes against larger firms like AECOM and Jacobs Solutions by focusing on high-growth niches in energy efficiency and data-center power consulting. Its specialized capabilities and deep utility relationships differentiate it in the expanding energy transition services market.