TiC Solutions reported record third-quarter revenue of $639.6 million, up 35% from a year earlier, and raised its full-year 2026 revenue outlook. The headline growth partly reflects the addition of NV5, acquired in August 2025: on a combined basis, revenue grew 12.5%, including 8.4% organic growth.
The quarter also brought higher adjusted earnings and a larger backlog, though TiC still reported a net loss. The company said it narrowed its full-year Adjusted EBITDA guidance range but did not provide the revised range in the results details summarized here.
Key details
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Revenue reached a quarterly record. TiC generated $639.6 million in revenue, compared with $473.9 million in the third quarter of 2025. The reported increase of 35% primarily reflects the inclusion of NV5 in this year’s results; the prior-year period did not include NV5.
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Growth was broad-based. On a combined basis, which better compares the business including NV5, revenue increased 12.5% year over year. Organic growth was 8.4%, and the company said revenue rose across all three segments.
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Adjusted profitability improved. Adjusted EBITDA was $107.2 million, up 39% from $77.3 million a year earlier on the reported comparison. On a combined basis, Adjusted EBITDA increased 19%, while its margin expanded by about 90 basis points to 16.8%.
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TiC remained loss-making under standard accounting measures. The company reported a net loss of $11.1 million, narrower than the $13.9 million loss in the year-earlier quarter. Diluted loss per share was 5 cents; adjusted diluted earnings per share were 18 cents.
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Backlog hit a record. Combined Consulting & Engineering and Geospatial backlog was $1.29 billion, up 23% from a year earlier. TiC said the backlog provides visibility heading into 2027.
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The company raised its revenue outlook. TiC also narrowed its full-year Adjusted EBITDA guidance range. No revised revenue target or EBITDA range was included in the details provided.
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Management pointed to demand and cross-selling as growth drivers. The company cited work tied to aging infrastructure, energy, data centers and digitization, and said teams are combining inspection, engineering and geospatial services to serve clients across the asset lifecycle. It also said recent acquisitions added capabilities and client relationships.
Plain-English implications
The NV5 acquisition makes the reported 35% revenue increase a poor measure of underlying year-over-year growth; the combined and organic figures offer a clearer view of the business’s expansion. The record backlog and raised revenue outlook indicate a larger base of contracted work and stronger expected sales, while the net loss shows that the company has not yet turned the quarter’s adjusted profitability into a net profit.