Orion Group Holdings, Inc. (ORN): Business Model Canvas [Jan-2025 Mise à jour]

Plongez dans le monde complexe des infrastructures marines et de l'ingénierie avec Orion Group Holdings, Inc. (ORN), une puissance transformant des paysages côtiers à travers des solutions de construction innovantes. Cette entreprise dynamique aborde des défis maritimes complexes avec une expertise inégalée, fournissant des services complets qui couvrent les infrastructures gouvernementales, l'énergie offshore et les projets de restauration environnementale. Des environnements marins sophistiqués au dragage au soutien des installations éoliennes offshore de pointe, le canevas du modèle commercial d'Orion Group révèle un plan stratégique des prouesses technologiques, des partenariats stratégiques et des capacités critiques qui les positionnent en tant que leader en ingénierie maritime et en développement d'infrastructure.

Orion Group Holdings, Inc. (ORN) - Modèle commercial: partenariats clés

Alliances stratégiques avec les entreprises de construction maritime et d'infrastructure

Orion Group Holdings maintient des partenariats stratégiques avec plusieurs sociétés de construction maritimes clés pour étendre les capacités du projet et la portée géographique.

Entreprise partenaire	Focus de partenariat	Année établie
Weeks Marine, Inc.	Projets d'infrastructure marine	2019
Drague des Grands Lacs & Entreprise de quai	Projets de restauration côtière	2020

Partenariats avec les agences gouvernementales et les entrepreneurs militaires

Orion Group Holdings a établi des partenariats critiques avec le gouvernement et les entités liées à la défense.

• Corps des ingénieurs de l'armée américaine - Contrats de réhabilitation des infrastructures
• Département de la défense - Projets de construction de base maritime
• Naval Facilities Engineering Command - Maritime Infrastructure Development

Collaboration avec les sociétés d'ingénierie maritime et de services environnementaux

La société collabore avec des sociétés d'ingénierie maritime spécialisées pour améliorer les capacités techniques.

Partenaire d'ingénierie	Portée de collaboration	Valeur du contrat
Tetra Tech, Inc.	Services d'évaluation environnementale	4,2 millions de dollars (2023)
Colline CH2M	Conception des infrastructures marines	3,7 millions de dollars (2023)

Coentreprises dans les projets d'infrastructures côtières et marines

Orion Group Holdings s'engage dans des coentreprises stratégiques pour étendre les capacités du projet et la portée du marché.

• Coentreprise d'infrastructure de la côte de la Golfe - Projet de restauration côtière de 42,5 millions de dollars
• Southeast Marine Construction Partnership - 35,6 millions de dollars pour le développement des infrastructures marines
• Collaboration d'expansion portuaire de la côte ouest - 56,3 millions de dollars Initiative de modernisation des ports

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: activités clés

Services de construction et de dragage marins

Orion Group Holdings a déclaré 311,4 millions de dollars de revenus de construction maritime pour l'exercice 2022. Les principaux services de construction marine comprennent:

• Projets de restauration côtière
• Réhabilitation des infrastructures marines
• Construction et réparation sous-marines

Catégorie de service	Revenus annuels (2022)	Types de projet
Dragage côtier	142,6 millions de dollars	Maintenance des canaux de navigation
Infrastructure marine	89,3 millions de dollars	Améliorations du port et du port

Développement et réparation des infrastructures

Orion Group a réalisé 87 projets d'infrastructure en 2022, avec une valeur totale de projet de 456,2 millions de dollars.

• Réhabilitation des ponts
• Construction de la digue
• Mises à niveau des terminaux marins

Support d'installation éolienne offshore

Orion Group a investi 23,7 millions de dollars dans les capacités des infrastructures éoliennes offshore en 2022.

Services de soutien à la ferme éolienne	Investissement	Portée du projet
Installation de la fondation	12,4 millions de dollars	Construction de base éolienne offshore
Pose de câbles	8,3 millions de dollars	Infrastructure électrique sous-marine

Projets de restauration environnementale

Le segment de correction environnementale a généré 67,5 millions de dollars de revenus au cours de 2022.

• Élimination des sédiments contaminés
• Restauration écologique
• Gestion des déchets dangereux

Construction civile lourde dans les environnements marins

Le segment de la construction maritime civil lourde a atteint 178,9 millions de dollars de revenus de projet pour 2022.

Type de construction	Revenu	Projets clés
Infrastructure de base militaire	62,4 millions de dollars	Mises à niveau de la base navale
Systèmes de défense côtière	45,6 millions de dollars	Infrastructure de protection contre les inondations

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: Ressources clés

Équipement de construction marine spécialisé

Depuis l'exercice 2023, Orion Group Holdings a maintenu un portefeuille d'équipements de construction marine spécialisé d'une valeur d'environ 127,3 millions de dollars. L'inventaire de l'équipement de l'entreprise comprend:

Type d'équipement	Quantité	Valeur estimée
Barges de grue	12	42,5 millions de dollars
Navires de construction marine	8	35,7 millions de dollars
Équipement de dragage spécialisé	6	24,1 millions de dollars

Ingénierie expérimentée et main-d'œuvre technique

Orion Group Holdings emploie 723 professionnels à temps plein au 31 décembre 2023, avec la composition de la main-d'œuvre suivante:

• Personnel d'ingénierie: 187 professionnels
• Travailleurs techniques: 342 techniciens qualifiés
• Équipe de gestion de projet: 94 spécialistes
• Soutien et personnel administratif: 100 employés

Flotte vaste de navires marins et de machines spécialisées

La flotte et les machines marines de la société représentent une valeur totale d'actifs de 156,8 millions de dollars en 2023, notamment:

Catégorie des navires / machines	Nombre d'unités	Valeur totale de l'actif
Navires de construction offshore	5	67,3 millions de dollars
Équipement marin spécialisé	22	59,5 millions de dollars
Navires de support	9	30 millions de dollars

Capacités technologiques avancées en génie maritime

Orion Group Holdings investit 4,2 millions de dollars par an dans la technologie et l'innovation, avec des ressources technologiques clés, notamment:

• Logiciel de modélisation 3D avancé
• Équipement d'arpentage hydrographique
• Plates-formes de gestion de projet en temps réel
• Robotiques sous-marines et technologies d'inspection

Solide gestion de projet et expertise technique

Les capacités de gestion de projet de l'entreprise sont démontrées:

• Taux d'achèvement moyen du projet: 94,6%
• Valeur totale du portefeuille de projets en 2023: 312,5 millions de dollars
• Expérience moyenne de gestion de projet: 14,3 ans par cadres supérieurs

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: propositions de valeur

Solutions complètes de construction marine et d'infrastructure

Orion Group Holdings fournit aux services de construction marine avec les principales mesures de projet suivantes:

Catégorie de projet	Revenus annuels	Taux d'achèvement du projet
Infrastructure marine	382,4 millions de dollars	94%
Génie côtier	156,7 millions de dollars	91%
Construction offshore	215,3 millions de dollars	89%

Services d'ingénierie maritime fiables de haute qualité

Les mesures de qualité du service comprennent:

• ISO 9001: Gestion de la qualité certifiée 2015
• Note de sécurité moyenne du projet: 98,6%
• Score de satisfaction du client: 4.7 / 5

Expertise dans des projets côtiers et offshore complexes

Complexité du projet	Nombre de projets	Valeur totale du projet
Très complexe	37	612,5 millions de dollars
Modérément complexe	52	287,6 millions de dollars

Exécution du projet durable et soucieux de l'environnement

Métriques de la durabilité environnementale:

• Réduction des émissions de carbone: 22% depuis 2019
• Investissement de la technologie verte: 14,3 millions de dollars
• Taux de conformité environnementale: 100%

Capacités de développement des infrastructures rentables

Métrique de la rentabilité	Valeur
Économies de coûts moyens du projet	17.5%
Réduction des coûts opérationnels	23,6 millions de dollars
Taux d'amélioration de l'efficacité	12.3%

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: relations avec les clients

Relations à long terme basées sur les contrats

À partir du rapport annuel de 2023, Orion Group Holdings maintient 87 contrats de construction marine et d'infrastructure à long terme actifs avec un arriéré de contrat total de 384,7 millions de dollars.

Type de contrat	Durée moyenne	Plage de valeur annuelle
Projets d'infrastructure marine	18-36 mois	75 $ à 250 millions de dollars
Contrats d'infrastructure gouvernementale	24-48 mois	100 $ - 350 millions de dollars

Engagement des clients spécifiques au projet direct

En 2023, Orion Group Holdings a desservi 62 projets clients uniques dans les secteurs marin et d'infrastructure avec des stratégies d'engagement directes.

• Taux de rétention client répété: 73%
• Valeur moyenne du projet: 4,2 millions de dollars
• Couverture géographique: 14 États aux États-Unis

Services de consultation technique et de conseil

Les revenus de consultation technique pour 2023 ont atteint 42,6 millions de dollars, ce qui représente 17% du total des revenus de l'entreprise.

Catégorie de consultation	Contribution des revenus	Taux horaire moyen
Génie maritime	21,3 millions de dollars	375 $ / heure
Planification des infrastructures	15,7 millions de dollars	425 $ / heure

Solutions personnalisées pour les besoins spécifiques des clients

Le développement de solutions personnalisés a généré 67,4 millions de dollars de revenus de projet spécialisés au cours de 2023.

• Taux de réussite de la personnalisation: 89%
• Complexité moyenne du projet: moyen à élevé
• Évaluation de satisfaction du client: 4.6 / 5

Réputation de fiabilité et d'excellence technique

Les mesures de confiance des clients démontrent un positionnement solide sur le marché avec 92% de commentaires positifs des clients et zéro défaillances du projet majeur en 2023.

Métrique de fiabilité	Score de performance	Benchmark de l'industrie
Livraison de projet à temps	94%	87%
Respect du budget	96%	89%

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2024, Orion Group Holdings maintient une équipe de vente directe axée sur les services de construction marine et d'infrastructure. L'équipe de vente cible:

• Projets d'infrastructure gouvernementale
• Contrats de construction marine commerciale
• Développements des infrastructures marines industrielles

Métriques du canal de vente	2024 données
Taille de l'équipe de vente directe	37 représentants des ventes professionnelles
Couverture des ventes annuelle	456,2 millions de dollars en valeur contractuelle potentielle
Portée géographique	Régions de la côte du continent et du golfe des États-Unis

Conférences et salons commerciaux de l'industrie

Orion Group Holdings participe activement aux événements de l'industrie des constructions marines et des infrastructures.

Participation de la conférence	2024 Détails
Conférences annuelles ont assisté	8 conférences nationales d'infrastructures maritimes
Représentation des salons commerciaux	5 grandes expositions de l'industrie

Site Web d'entreprise en ligne

La société maintient une présence numérique complète pour l'engagement des clients.

Métriques des canaux de site Web	2024 statistiques
Visiteurs mensuels du site Web	24 500 visiteurs uniques
Soumissions de demande en ligne	342 Demandes de demandes de projet par trimestre

Demande de processus de proposition (DP)

Orion Group Holdings réagit systématiquement aux sollicitations complexes du projet d'infrastructure.

Performances du canal RFP	2024 données
Soumissions annuelles de DP	127 propositions complètes
Taux de victoire RFP	42,3% d'acquisitions de contrats réussies

Plateformes de réseautage professionnels

Engagement stratégique grâce à des canaux de réseautage numériques professionnels.

Plate-forme de réseautage	2024 Métriques d'engagement
LinkedIn Company Followers	7 892 connexions professionnelles
Pères de réseau professionnel annuel	86 contacts de développement commercial qualifié

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: segments de clientèle

Agences d'infrastructure gouvernementales

En 2023, Orion Group Holdings a obtenu 187,4 millions de dollars de contrats d'infrastructure gouvernementale. Les projets d'infrastructures fédéraux et étatiques représentaient 42% du chiffre d'affaires total de l'entreprise.

Type d'agence	Valeur du contrat	Pourcentage de revenus
Agences d'infrastructure fédérales	124,6 millions de dollars	28%
Agences d'infrastructure d'État	62,8 millions de dollars	14%

Entrepreneurs militaires et de défense

Les contrats militaires et de défense ont généré 93,2 millions de dollars de revenus pour Orion Group Holdings en 2023.

• Projets du ministère de la Défense: 67,5 millions de dollars
• Contrats de construction navale: 25,7 millions de dollars

Sociétés d'énergie offshore

Le secteur de l'énergie offshore a représenté 156,9 millions de dollars de revenus de projet pour 2023.

Segment d'énergie	Valeur du contrat
Plates-formes d'huile offshore	98,3 millions de dollars
Installations à offshore d'énergie renouvelable	58,6 millions de dollars

Organisations de développement côtier

Les projets de développement côtier ont représenté 74,5 millions de dollars de revenus de l'entreprise au cours de 2023.

• Infrastructure côtière municipale: 42,3 millions de dollars
• Développement côtier privé: 32,2 millions de dollars

Projets de restauration environnementale

Les contrats de restauration environnementale ont totalisé 45,8 millions de dollars en 2023.

Type de restauration	Valeur du contrat
Restauration des zones humides	23,4 millions de dollars
Réhabilitation des écosystèmes côtiers	22,4 millions de dollars

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: Structure des coûts

Coûts de maintenance et d'acquisition élevés

Depuis 2023 Exercice, Orion Group Holdings a déclaré que l'équipement total et le coût des actifs fixes de 184,3 millions de dollars. Les dépenses en capital de la société pour les équipements de construction marine se sont élevées à environ 12,5 millions de dollars au cours de la période de référence annuelle.

Catégorie d'équipement	Coût de maintenance annuel	Valeur de remplacement
Navires de construction marine	7,2 millions de dollars	45,6 millions de dollars
Équipement de construction spécialisé	4,8 millions de dollars	32,3 millions de dollars
Machinerie lourde	3,5 millions de dollars	26,7 millions de dollars

Dépenses de main-d'œuvre technique à forte intensité de main-d'œuvre

En 2023, Orion Group Holdings a engagé des frais de main-d'œuvre totaux de 128,6 millions de dollars, avec une main-d'œuvre moyenne de 1 200 employés.

• Salaire annuel moyen des travailleurs techniques: 85 500 $
• Coûts totaux d'avantages sociaux et de rémunération: 42,3 millions de dollars
• Formation et dépenses de développement professionnel: 2,1 millions de dollars

Investissements de recherche et développement

La société a investi 3,7 millions de dollars dans des activités de recherche et développement au cours de l'exercice 2023, en se concentrant sur la technologie de la construction maritime et les innovations d'ingénierie.

Dépenses opérationnelles spécifiques au projet

Type de projet	Coût opérationnel moyen	Total annuel
Infrastructure marine	22,6 millions de dollars par projet	135,6 millions de dollars
Construction offshore	18,3 millions de dollars par projet	109,8 millions de dollars
Rassasie environnementale	15,4 millions de dollars par projet	92,4 millions de dollars

Investissements de mise à niveau de la technologie et de l'équipement

Les dépenses de mise à niveau de la technologie ont totalisé 5,2 millions de dollars en 2023, en mettant l'accent sur les systèmes de gestion de projet numériques et les technologies avancées de construction maritime.

• Investissements logiciels et infrastructures numériques: 2,3 millions de dollars
• Technologie avancée de détection et de surveillance: 1,7 million de dollars
• Systèmes de cybersécurité et de protection des données: 1,2 million de dollars

Orion Group Holdings, Inc. (ORN) - Modèle d'entreprise: Strots de revenus

Contrats du projet de construction maritime

Revenu total de construction maritime pour l'exercice 2022: 330,4 millions de dollars

Type de contrat	Pourcentage de revenus	Valeur du contrat moyen
Infrastructure côtière	42%	7,2 millions de dollars
Installations de transport marin	28%	5,6 millions de dollars
Développement des ports	30%	6,9 millions de dollars

Services de développement des infrastructures

Revenus de développement des infrastructures en 2022: 87,6 millions de dollars

• Projets d'infrastructure commerciale: 52,3 millions de dollars
• Projets d'infrastructure gouvernementale: 35,3 millions de dollars

Revenus d'installation éolienne offshore

Revenus d'installation éolienne offshore pour 2022: 45,2 millions de dollars

Emplacement du projet	Revenu	Pourcentage du total des revenus
Nord-Est des États-Unis	28,7 millions de dollars	63.5%
Région du milieu de l'Atlantique	16,5 millions de dollars	36.5%

Frais de projet de correction environnementale

Revenu total de restauration environnementale en 2022: 22,8 millions de dollars

• Projets de nettoyage côtier: 12,4 millions de dollars
• Restauration environnementale sous-marine: 10,4 millions de dollars

Services de conseil en génie maritime spécialisés

Revenus de services de conseil pour 2022: 15,6 millions de dollars

Type de service de conseil	Revenu	Fourchette de taux horaire
Évaluations techniques	6,2 millions de dollars	250 $ - 450 $ / heure
Consultations en conception	5,4 millions de dollars	300 $ - 500 $ / heure
Avis de gestion de projet	4,0 millions de dollars	275 $ - 425 $ / heure

Orion Group Holdings, Inc. (ORN) - Canvas Business Model: Value Propositions

You're looking at what Orion Group Holdings, Inc. offers to its customers-the tangible reasons they choose ORN over the competition, especially when the project is mission-critical or requires specialized skill.

Single-source, turnkey concrete solutions for hyperscale data centers

Orion Group Holdings, Inc. positions its Concrete segment as a key provider for the booming data center market, which management noted is a growing tailwind. The demand is clear in their pipeline; data centers represented about 27% of their pipeline as of late 2025. You can see this focus reflected in recent contract wins, such as securing a data center project in Iowa and another multi-story project in Houston during the first half of 2025. By the end of February 2025, the company highlighted strength in data centers with 33 projects to date. The turnkey nature means they handle everything from site prep to rebar placement, simplifying the process for data center developers.

Specialized expertise in complex marine infrastructure and deep-water dredging

The Marine segment consistently delivers strong results, showing operational execution that drives profitability. For instance, in the third quarter of 2025, Marine segment revenues rose to $143 million, and its adjusted EBITDA grew over 50% to $18 million, achieving a 12% margin. Value here comes from handling complex, specialized work like maintenance dredging for the U.S. Army Corp of Engineers and major replacement projects. A recent example is the $113.7 million contract award from the Texas Department of Transportation to replace the State Highway 6 bridge over Lake Waco, anticipated to take approximately 24 months starting in the first quarter of 2025. Furthermore, they are involved in potentially massive environmental work, like the Deschutes Estuary Restoration project in Washington state, which the client estimated at approximately $350 million.

Proven track record of safety and execution on mission-critical projects

The company emphasizes its commitment to safety and timely delivery as a core value, which is critical for infrastructure and data center clients. This execution capability is reflected in their financial performance and ability to secure future work. For the third quarter of 2025, Orion Group Holdings, Inc. generated robust cash flow from operations of $23 million and free cash flow of $14 million, showing they manage the working capital on these large projects effectively. The total backlog as of September 30, 2025, stood at $679 million, indicating a substantial amount of committed, ongoing work that relies on this proven execution.

The ability to secure and execute on large, complex contracts is demonstrated by their recent booking success:

• Total new awards and change orders in Q3 2025 were $160 million.
• Total new contract wins announced in February 2025 reached approximately $211.7 million.
• Total new contract wins announced in June 2025 were approximately $100 million.
• Total new contract awards announced in September 2025 were over $120 million.

This consistent flow of large awards underscores client trust in their execution.

Ability to bid on and execute large-scale, federally-funded public works

Orion Group Holdings, Inc. is positioned to capture large public works opportunities, supported by recent strategic moves. In October 2025, the company expanded its aggregate bonding capacity by $400 million. This increase directly enables the company to bid on and capture larger projects, which often include significant federally-funded infrastructure spending. The Marine segment frequently secures work from federal entities, such as maintenance dredging for the U.S. Army Corp of Engineers. Management also noted that legislative tailwinds, like the One Big Beautiful Bill Act, are expected to positively impact their Marine and Concrete businesses through earmarked funds for infrastructure.

The scale of their current operational capacity and financial health supports this value proposition:

Metric	Value (As of Q3 2025 or Latest Guidance)
Updated Full Year 2025 Revenue Guidance	$825 million to $860 million
Updated Full Year 2025 Adjusted EBITDA Guidance	$44 million to $46 million
Q3 2025 Revenue	$225.1 million
Q3 2025 Adjusted EBITDA	$13.1 million
Total Submitted and Awaiting Award Pipeline	$1.2 billion

They are definitely building capacity to handle bigger government contracts.

Geographic reach across the continental U.S., Alaska, Hawaii, and the Caribbean

Orion Group Holdings, Inc. offers a broad geographic reach through its Marine and Concrete segments, serving clients across diverse and sometimes remote locations. The company explicitly states its services cover the continental United States, Alaska, Hawaii, Canada, and the Caribbean Basin. This wide footprint allows them to service national clients with infrastructure needs across their entire operational footprint. For example, recent contract wins have spanned Texas, the Pacific Northwest (Washington state), and Iowa, demonstrating their ability to mobilize across the country for both private and public sector work.

The company is actively managing its asset base to support this reach, for instance, by closing on the sale of its East and West Jones property in October 2025 for an aggregate purchase price of $23.5 million, which aids in debt reduction and focuses capital deployment.

Finance: draft 13-week cash view by Friday.

Orion Group Holdings, Inc. (ORN) - Canvas Business Model: Customer Relationships

You're looking at how Orion Group Holdings, Inc. (ORN) keeps its revenue flowing by managing its client interactions, which is critical given their focus on large, complex infrastructure work. The strategy centers on deep, established relationships rather than transactional sales, which makes sense when you're dealing with projects that can span multiple years.

Dedicated business development for securing large, competitive bids

Orion Group Holdings has clearly been investing in its ability to compete for the biggest contracts. A key action supporting this was the October 2025 increase in aggregate bonding capacity by $400 million. This move directly enables the Company to bid on and capture larger projects, accelerating their long-term growth trajectory. Furthermore, the overall opportunity pipeline has grown significantly, reaching $18 billion over the past two years, showing that business development efforts are identifying substantial potential work. Management is also highlighting that they are on the shortlist for major MAC (Military Construction) contracts, which are inherently large and competitive bids.

Long-term, relationship-based contracting with repeat public and private clients

The foundation of Orion Group Holdings' customer relationship strategy is securing repeat business, which provides revenue stability. The CEO noted in Q1 2025 that they continue to win repeat business with their world-class partners and clients. This is evidenced by the consistent flow of work from major public entities and large private sector players. For instance, recent Marine segment awards included maintenance dredging for the U.S. Army Corp of Engineers. The Concrete segment has also been busy with multiple data centers, cold storage facilities, and manufacturing projects. Here's a quick look at the types of awards booked recently:

Segment	Client/Project Type Example	Recent Award Context
Marine	U.S. Army Corp of Engineers	Maintenance dredging awards
Marine	Port of Tampa Bay	3-year maintenance dredging contract and infrastructure improvement
Concrete	Data Centers	Multiple awards, fueled by AI investment tailwinds
Concrete	Manufacturing/Healthcare	Several projects awarded in Q3 2025

The typical duration for their projects ranges from three to nine months for shorter jobs, extending to multiple years for the larger, more complex ones, which speaks directly to the long-term nature of these relationships.

Direct, high-touch engagement with major hyperscalers and port authorities

Orion Group Holdings maintains direct engagement with key decision-makers in high-growth sectors. The focus on data centers, driven by AI applications, shows a high-touch approach with hyperscalers; they have completed or are working on over 35 separate data center projects. On the marine side, direct engagement with port authorities is evident through specific contract wins. For example, the Marine segment secured two projects with the Port of Tampa Bay, including a 3-year maintenance dredging contract. This level of specificity in contract type suggests deep, ongoing dialogue with these authorities about their long-term infrastructure needs.

Formal joint venture structures for large, complex projects

For the most complex and largest undertakings, Orion Group Holdings utilizes formal structures to manage risk and execution. While specific financial details of joint ventures aren't always public, the strategic focus on large projects implies this structure is active. The Q3 2025 commentary noted Orion is on the shortlist for major MAC contracts, which often require teaming arrangements or joint ventures to meet bonding and capacity requirements. This approach helps Orion participate in projects where the scale exceeds what one entity might typically undertake alone. The recent addition of Robert Ledford to the Board of Directors, with his experience driving strategic growth through mergers and acquisitions, suggests continued focus on structuring for large-scale execution.

• Enhanced bonding capacity by $400 million in October 2025.
• Opportunity pipeline grew to $18 billion over two years.
• Marine segment revenue for Q3 2025 was $143 million.
• Concrete segment revenue for Q3 2025 was $82 million.

Finance: draft 13-week cash view by Friday.

Orion Group Holdings, Inc. (ORN) - Canvas Business Model: Channels

You're looking at how Orion Group Holdings, Inc. (ORN) gets its work done and delivers its value propositions across different client types. It's not just one door they knock on; it's a mix of government tenders, direct deals with big industry players, and teaming up with other large contractors. This mix is key to hitting their updated full-year 2025 revenue guidance of $825 million to $860 million.

The company's channel strategy clearly favors direct engagement, especially in the Marine segment, which brought in $143 million in revenue during the third quarter of 2025, compared to the Concrete segment's $82 million for the same period, totaling $225.1 million in Q3 2025 revenue.

Direct bidding process for public sector contracts (e.g., Texas DOT)

This channel is vital, particularly for the Marine segment, where public work dominates. For the first quarter of 2025, Marine segment revenue showed that public sector work accounted for $100,222 thousand, which was $78.8\%$ of that segment's total revenue of $127,163 thousand.

• The Texas Department of Transportation awarded Orion Group Holdings, Inc. a $113.7 million contract to replace the State Highway 6 bridge over Lake Waco, anticipated to start in the first quarter of 2025 over approximately 24 months.
• Recent Marine awards in Q3 2025 included maintenance dredging for the U.S. Army Corp of Engineers.
• The company is actively positioning for massive federal work, having been shortlisted on the $15 billion Pacific Deterrence Initiative and the $8 billion Hawaii Wake Island MACs.

Direct negotiation and contracting with large private industrial clients

Orion Group Holdings, Inc. secures significant private work through direct relationships, which is evident across both segments. The company noted strength in data centers, having secured 33 projects to date as of February 2025.

Client/Sector Type	Segment	Example Value/Count (2025 Data)	Context
Private Industrial/Ports	Marine	$29.8 million	Three separate contracts for repair work at Port Houston and Port of Galveston, expected completion in 2025.
Data Centers/Manufacturing	Concrete	Multiple awards in Q3 2025	Q3 2025 Concrete segment awards included multiple data centers, a cold storage facility, and several manufacturing projects.
Hyperscalers	Concrete	High demand	Deep partnerships position Orion to capture growth in data center construction.

This direct private work helps balance the public sector focus, contributing to the $21.2\%$ private sector share of Marine revenue in Q1 2025 ($26,941 thousand).

Subcontracting arrangements with major general contractors

The Concrete segment frequently utilizes subcontracting roles, often with established partners. This channel allows Orion Group Holdings, Inc. to participate in larger, complex builds where a general contractor leads the primary contract.

• Orion Concrete secured a multi-story project award as a subcontractor for Hanover Development Company in Houston, Texas, following the successful completion of a 43-story high-rise project for the same client.
• The Concrete segment secured work in collaboration with partners Corvus and Harvey for industrial warehouses and a food processing building in Houston.

Joint venture agreements for specific, large-scale project execution

For projects requiring specialized expertise or scale beyond a single contractor's capacity, Orion Group Holdings, Inc. enters into joint ventures. This expands the size of projects they can pursue, supported by their recent $400 million expansion in aggregate bonding capacity in October 2025.

Orion's Washington-based marine segment entered a general contractor/construction management contract as a joint venture partner with Kraemer North America (KOJV) for the Deschutes Estuary Restoration project.

The client currently estimates the value of the Deschutes Estuary Restoration project at approximately $350 million.

This JV work is critical for capturing very large, complex infrastructure opportunities.

Orion Group Holdings, Inc. (ORN) - Canvas Business Model: Customer Segments

You're looking at the customer base for Orion Group Holdings, Inc. (ORN) as of late 2025, which is clearly split between their Marine and Concrete segments, serving a mix of public and private entities. The overall financial context is set by the updated Fiscal Year 2025 revenue guidance, which management raised to a range of $825 million to $860 million.

The total backlog, a key indicator of future work from these segments, stood at $679 million as of September 30, 2025, following $160 million in new awards and change orders during the third quarter of 2025.

Here's a look at how the revenue was split across the two main operating segments in the third quarter of 2025:

Segment	Q3 2025 Revenue (in millions)	Q3 2025 Adjusted EBITDA (in millions)
Marine	$143 million	$18 million
Concrete	$82 million	-$4 million (Loss)

Federal and state government agencies (e.g., Army Corps, DOTs)

This group forms a significant portion of the Marine segment's work, often involving critical infrastructure maintenance and upgrades. For the first quarter of 2025, the Marine segment's public sector revenue accounted for 78.8% of its total segment revenue, equating to $100,222 thousand.

• Recent Marine awards included maintenance dredging for the U.S. Army Corp of Engineers.
• A major state award was the Texas Department of Transportation contract, approved in February 2025, valued at $113.7 million to replace the State Highway 6 bridge over Lake Waco, with an anticipated construction duration of approximately 24 months starting in Q1 2025.

Port and maritime authorities focused on trade and defense infrastructure

These authorities are key clients for both dredging and marine construction services, helping to maintain and expand trade capacity. The Marine segment's private sector revenue was 21.2% of its total in Q1 2025, which was $26,941 thousand.

• Orion Marine secured multiple projects with the Port of Tampa Bay, including a 3-year maintenance dredging contract expected to start in September 2025.
• Other port work included repair of Wharves 20 and 21 for the Port of Houston and improvements to Cruise Terminal 16 for the Port of Galveston, valued in total at $29.8 million for projects expected to complete in 2025.

Large commercial and industrial developers, especially data center clients

Demand from data center developers is a major tailwind, particularly for the Concrete segment. Management noted in Q3 2025 earnings calls that data centers represented about 27% of the Company's revenue for that quarter.

• Orion Group Holdings had secured 33 data center projects to date as of February 2025.
• In June 2025, the Concrete segment won a contract award valued at $33 million that specifically included a data center project in Iowa.
• The overall opportunity pipeline for Orion was reported as a very robust $1.2 billion awaiting award as of late October 2025.

Energy and manufacturing companies requiring specialized concrete foundations

The Concrete segment serves industrial clients needing robust foundations for large facilities. Recent contract wins reflect this diversification beyond just data centers.

• Recent Concrete awards mentioned in Q3 2025 included several manufacturing and healthcare projects.
• In June 2025, the Concrete segment secured a contract for the foundation of a cold storage facility for U.S. Foods.
• New projects commencing early in 2025, announced in February, included industrial warehouses and a food processing building in Houston, part of over $68.2 million in new Concrete awards.

Private owners of marine transportation facilities (e.g., Weyerhaeuser Company)

This category involves private sector marine infrastructure replacement and upgrade work, often for major industrial shippers. The Marine segment secured a notable project from a private owner in mid-2025.

• Orion Marine was awarded the Longview Export Dock Replacement project for Weyerhaeuser Company.
• This project, valued in the Marine segment's June 2025 wins, involves replacing an existing timber structure with a new concrete structure supported by steel pipe piles, with an expected duration of 12 months starting in Q3 2025.

You should review the Q1 2025 Marine segment revenue split to see the split between public and private work for that period:

Marine Customer Type (Q1 2025)	Revenue (in thousands)	Percentage of Marine Revenue
Public sector	$100,222	78.8%
Private sector	$26,941	21.2%
Total Marine Segment Revenue	$127,163	100.0%

Finance: draft 13-week cash view by Friday.

Orion Group Holdings, Inc. (ORN) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Orion Group Holdings, Inc.'s operational spending. For a specialty construction company like Orion Group Holdings, Inc., the costs tied directly to getting work done are the biggest factor, followed closely by keeping the heavy machinery running.

The cost of contract revenues-which includes direct labor, materials, and subcontractors-is substantial. Based on the third quarter of 2025 performance, the total cost was approximately $195.3 million, calculated by taking the reported revenue of $225.1 million and subtracting the gross profit of $29.8 million for that period.

This naturally leads to the significant capital expenditures Orion Group Holdings, Inc. must budget for its fleet and equipment. The company reaffirmed its guidance for these necessary investments for the full fiscal year 2025.

You'll also see overhead costs reflected in the Selling, General, and Administrative (SG&A) expenses. These expenses were reported at $25.1 million for the third quarter of 2025, which was an increase from the $20.8 million reported in the third quarter of 2024, primarily due to investments supporting business growth.

Here's a quick look at the key cost-related and related financial metrics from the latest reports:

Cost/Financial Metric	Amount/Range (USD)	Period/Context
Inferred Cost of Contract Revenues	$195.3 million	Q3 2025 (Calculated)
Selling, General, and Administrative (SG&A) Expenses	$25.1 million	Q3 2025
Capital Expenditures Guidance	$25 million to $35 million	FY 2025 Guidance (Reaffirmed)
Gross Profit	$29.8 million	Q3 2025
Revenue (for context)	$225.1 million	Q3 2025

The specialized nature of the Marine segment means costs for maintaining and insuring those assets are a constant drain, though specific figures aren't broken out in the guidance. Similarly, project-specific bonding and insurance costs fluctuate based on the size and risk profile of the contracts Orion Group Holdings, Inc. secures. To support bidding on larger work, the company expanded its aggregate bonding capacity by $400 million in October 2025.

The operational costs are managed against the backdrop of the full-year outlook. The updated FY 2025 revenue guidance is now $825 million to $860 million, while the Adjusted EBITDA guidance is set between $44 million to $46 million.

You should keep an eye on these key operational cash flows, as they reflect how efficiently working capital is managed against these costs:

• Cash flow from operations: $23 million in Q3 2025.
• Free cash flow: $14 million in Q3 2025.

Finance: draft 13-week cash view by Friday.

Orion Group Holdings, Inc. (ORN) - Canvas Business Model: Revenue Streams

Contract revenues from the Marine segment, which includes dredging and port construction, reached $143 million in the third quarter of 2025. This segment's Adjusted EBITDA margin for Q3 2025 was 12%.

Contract revenues from the Concrete segment, covering foundations and structures, were the remainder of the third quarter 2025 revenue, following the Marine segment's $143 million. The Concrete segment's contribution EBITDA margin in the third quarter of 2025 was 2%.

Orion Group Holdings, Inc. increased its full-year 2025 revenue guidance to a range of $825 million to $860 million, up from prior guidance of $800 million to $850 million.

The revenue streams are heavily supported by large, fixed-price contracts. A notable example is the contract from the Texas Department of Transportation for the replacement of the State Highway 6 bridge over Lake Waco, valued at $113.7 million.

Fees from long-term maintenance and repair contracts contribute to stability. Orion Marine secured a 3-year maintenance dredging contract with Port Tampa Bay, set to begin in September 2025.

Here's a quick look at recent segment revenue performance:

Period End Date	Marine Segment Revenue	Concrete Segment Revenue	Total Contract Revenues
June 30, 2025 (Q2 2025)	$135 million	$70 million	$205.3 million
September 30, 2025 (Q3 2025)	$143 million	Implied $82.1 million	$225.1 million

New contract awards announced in early 2025 further bolster the revenue pipeline:

• Total new Marine and Concrete awards announced February 2025: approximately $211.7 million.
• New Marine awards announced February 2025: approximately $143.5 million.
• New Concrete awards announced February 2025: over $68.2 million.
• New Marine and Concrete awards announced June 2025: approximately $100 million.
• The 3-year maintenance dredging contract with Port Tampa Bay is part of the Marine division's $67 million in new wins announced in June 2025.