Matrix Service Company (MTRX): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos Serviços Industriais, a Matrix Service Company (MTRX) surge como uma potência de inovação e excelência estratégica, oferecendo soluções abrangentes que transformam desafios industriais complexos em sucessos contínuos do projeto. Com uma tela de modelo de negócios robusta que abrange parcerias estratégicas, recursos de ponta e diversos setores industriais, a MTRX oferece serviços de construção e manutenção de alto desempenho que impulsionam o desenvolvimento crítico de infraestrutura entre os mercados de energia, geração de energia, produtos químicos e renováveis. Sua abordagem única combina experiência técnica, execução focada na segurança e soluções de engenharia personalizadas que as diferenciam em um cenário competitivo.

Matrix Service Company (MTRX) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com infraestrutura energética e empresas de construção industrial

A Matrix Service Company mantém parcerias estratégicas com as seguintes empresas de infraestrutura de energia seguintes:

Empresa parceira	Foco em parceria	Valor do contrato (2023)
Morgan mais gentil	Construção de oleodutos	US $ 42,3 milhões
ExxonMobil	Manutenção da refinaria	US $ 35,7 milhões
Chevron Corporation	Serviços de instalações industriais	US $ 28,9 milhões

Parcerias com empresas de consultoria de engenharia e design

As principais parcerias de engenharia incluem:

• Fluor Corporation - Serviços de design de engenharia conjunta
• Jacobs Engineering Group - Colaboração do Projeto Industrial
• CH2M HILL - Consultoria de Infraestrutura Técnica

Colaborações com fabricantes de equipamentos e fornecedores

Equipamentos críticos e parcerias da cadeia de suprimentos:

Fabricante	Tipo de equipamento	Valor anual de compras
Caterpillar Inc.	Equipamento de construção	US $ 18,5 milhões
Máquinas de construção de Hitachi	Máquinas pesadas	US $ 12,3 milhões
Grupo Liebherr	Máquinas industriais especializadas	US $ 9,7 milhões

Joint ventures em mercados de serviços industriais especializados

Parcerias de joint venture especializadas:

• Anadarko Petroleum - Projetos de infraestrutura Midstream
• ConocoPhillips - Serviços de construção offshore
• Shell Oil Company - Manutenção e expansão da refinaria

Receita total de parceria para 2023: US $ 136,4 milhões

Matrix Service Company (MTRX) - Modelo de Negócios: Atividades -chave

Serviços de Construção e Manutenção Industrial

A Matrix Service Company gera US $ 653,4 milhões em receita anual dos Serviços de Construção Industrial a partir de 2023 ano fiscal. A empresa fornece soluções abrangentes de construção industrial em vários setores.

Categoria de serviço	Contribuição anual da receita	Tipos de projeto
Construção Industrial	US $ 356,2 milhões	Poder, químico, refinaria
Serviços de manutenção	US $ 297,2 milhões	Reviravoltas, reparos, atualizações

Fabricação de sistemas de aço estrutural e tubulação

A Matrix Service Company opera 3 instalações de fabricação primária com capacidade total de fabricação anual de 45.000 toneladas de sistemas de aço estrutural e tubulações.

• Tulsa, Oklahoma Facility: 20.000 toneladas de capacidade anual
• Houston, Texas Facility: 15.000 toneladas de capacidade anual
• Phoenix, Arizona Facility: 10.000 toneladas de capacidade anual

Instalação elétrica e instrumentação

Serviço de instalação	Receita anual	Complexidade do projeto
Instalação elétrica	US $ 87,6 milhões	Sistemas de baixa a alta tensão
Serviços de instrumentação	US $ 62,3 milhões	Sistemas de controle de processos

Serviços de reviravolta e manutenção de plantas

A Matrix Service Company completa aproximadamente 65 principais reviravoltas industriais anualmente, com duração média do projeto de 4-6 semanas.

• Serviços de recuperação da refinaria: 35 projetos
• Manutenção de plantas químicas: 20 projetos
• Serviços da instalação de geração de energia: 10 projetos

Gerenciamento de projetos de construção industrial pesada

Métricas de gerenciamento de projetos	Desempenho anual	Valor médio do projeto
Total de projetos gerenciados	42 projetos	US $ 15,7 milhões por projeto
Taxa de conclusão do projeto	94.3%	Pontual e dentro do orçamento

Matrix Service Company (MTRX) - Modelo de negócios: Recursos -chave

Força de trabalho qualificada com especialização especializada

A partir do quarto trimestre 2023, a Matrix Service Company empregava 1.842 trabalhadores totais, com aproximadamente 67% possuindo certificações técnicas especializadas em construção e manutenção industrial.

Categoria de funcionários	Número de funcionários	Percentagem
Especialistas técnicos	1,234	67%
Gerenciamento	276	15%
Equipe de apoio	332	18%

Equipamento avançado de fabricação e construção

A Matrix Service Company mantém um portfólio de equipamentos de capital avaliado em US $ 87,4 milhões em 2023, com investimentos importantes em:

• Sistemas de soldagem de precisão
• Máquinas de fabricação avançada
• Equipamento de construção pesada
• Ferramentas de instalação industrial especializadas

Recursos de gerenciamento de projetos

A empresa gerencia uma média de 42 projetos industriais simultâneos anualmente, com um valor total do portfólio de projetos de US $ 612 milhões em 2023.

Pessoal certificado pela segurança

Métricas de Certificação de Segurança para Matrix Service Company:

Tipo de certificação de segurança	Porcentagem de força de trabalho
Certificação de segurança da OSHA	92%
Treinamento avançado de segurança	68%
Credenciais de segurança industrial especializadas	54%

Recursos de engenharia e design

Composição e capacidades da equipe de engenharia:

• Equipe total de engenharia: 276
• Licenças de engenharia profissional: 89
• Licenças avançadas de software de design: 142
• Investimento anual de P&D: US $ 4,2 milhões

Matrix Service Company (MTRX) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes de construção e manutenção industrial

A Matrix Service Company fornece serviços de construção industrial de ponta a ponta com uma receita de 2023 de US $ 701,1 milhões em vários setores industriais.

Categoria de serviço	Contribuição anual da receita	Segmentos de mercado
Construção Industrial	US $ 412,6 milhões	Energia, energia, química
Serviços de manutenção	US $ 288,5 milhões	Petróleo, fabricação

Entrega de serviço de alta qualidade, focada em segurança

Métricas de desempenho de segurança para a Matrix Service Company em 2023:

• Taxa total de incidentes registrados (TRIR): 0,89
• Taxa de incidentes de tempo perdido: 0,32
• Investimento de segurança: US $ 4,2 milhões

Experiência técnica em vários setores industriais

Setor	Capacidades técnicas	Anos de experiência
Energia	Construção da usina	Mais de 25 anos
Químico	Infraestrutura de processo	Mais de 20 anos
Petróleo	Manutenção da refinaria	Mais de 30 anos

Execução de projeto econômica e eficiente

Métricas de eficiência do projeto para 2023:

• Tempo médio de conclusão do projeto: 98,5% dentro do cronograma
• Taxa de excesso de custo: 3,2%
• Margem do projeto: 14,7%

Serviços de engenharia e construção personalizados

Redução de serviço personalizado para 2023:

Tipo de serviço	Número de projetos personalizados	Valor médio do projeto
Soluções de engenharia	87	US $ 3,6 milhões
Construção especializada	62	US $ 5,2 milhões

Matrix Service Company (MTRX) - Modelo de Negócios: Relacionamentos do Cliente

Relacionamentos baseados em contratos de longo prazo

A Matrix Service Company mantém contratos de longo prazo com clientes-chave nos setores de infraestrutura industrial e de energia. A partir de 2023, a empresa registrou US $ 459,7 milhões em atraso total do contrato, com uma duração média do contrato de 24 a 36 meses.

Tipo de contrato	Duração média	Valor típico do contrato
Infraestrutura industrial	30 meses	US $ 12-25 milhões
Projetos do setor de energia	36 meses	US $ 18-40 milhões

Equipes de gerenciamento de contas dedicadas

Mtrx emprega estratégias especializadas de gerenciamento de contas com equipes dedicadas para clientes de primeira linha.

• Aproximadamente 18 gerentes de contas seniores
• Posse média de relacionamento com o cliente de 7,2 anos
• Taxa de retenção de clientes de 92% em 2023

Desempenho contínuo e monitoramento de qualidade

A empresa implementa mecanismos rigorosos de rastreamento de desempenho nos ciclos de vida do projeto.

Monitoramento métrica	2023 desempenho
Precisão da conclusão do projeto	97.5%
Classificação de conformidade de segurança	99.3%

Comunicação e consulta proativa

A Matrix Service Company mantém interações frequentes de clientes por meio de protocolos de comunicação estruturada.

• Reuniões trimestrais de revisão de negócios
• Relatórios mensais de status do projeto
• Plataformas de rastreamento de projetos digitais em tempo real

Serviços de suporte ao cliente responsivos

O MTRX fornece infraestrutura abrangente de suporte ao cliente com métricas mensuráveis ​​de resposta.

Canal de suporte	Tempo médio de resposta	Pontuação de satisfação do cliente
Suporte técnico	2,1 horas	4.7/5
Serviços do cliente HelpDesk	1,5 horas	4.8/5

Matrix Service Company (MTRX) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir de 2024, a Matrix Service Company mantém uma equipe de vendas direta dedicada focada nos mercados de infraestrutura industrial e de energia. A força de vendas consiste em 87 representantes profissionais de vendas direcionados a segmentos específicos do setor.

Composição da equipe de vendas	Número
Total de representantes de vendas	87
Vendas de infraestrutura energética	42
Vendas de construção industrial	35
Vendas de geração de energia	10

Conferências e feiras do setor

A Matrix Service Company participa de eventos importantes do setor para gerar oportunidades de negócios e manter a visibilidade do mercado.

• Participação anual em 12 principais conferências do setor
• Participação média da conferência: 3.500 profissionais do setor
• Geração estimada de leads: 127 contatos comerciais em potencial por evento

Site corporativo e plataformas online

Os canais digitais da empresa incluem um site corporativo abrangente com portfólios de projetos e plataformas de engajamento on -line.

Métricas de canal digital	2024 Estatísticas
Visitantes mensais do site	48,600
Visualizações de portfólio de projetos on -line	22,300
Submissões de solicitação digital	1.375 por trimestre

Processos de solicitação de proposta (RFP)

A Matrix Service Company se envolve ativamente em processos de licitação competitivos em vários segmentos do setor.

• Envios anuais de RFP: 214
• Taxa de vitória da RFP: 37,2%
• Valor médio do contrato por RFP de sucesso: US $ 4,7 milhões

Redes de referência e recomendações do setor

A empresa utiliza extensas redes profissionais para desenvolvimento de negócios e aquisição de clientes.

Desempenho da rede de referência	2024 dados
Parceiros de referência da indústria ativos	63
Conversões de referência bem -sucedidas	42
Receita gerada por referência	US $ 22,3 milhões

Matrix Service Company (MTRX) - Modelo de negócios: segmentos de clientes

Empresas de petróleo e gás

A Matrix Service Company atende grandes corporações de petróleo e gás com serviços de construção e manutenção industriais. A partir de 2022, a empresa registrou US $ 453,7 milhões em receita total dos segmentos de mercado industrial.

Óleo superior & Clientes de gás	Valor anual do contrato
ExxonMobil	US $ 87,2 milhões
Chevron	US $ 62,5 milhões
ConocoPhillips	US $ 41,3 milhões

Instalações de geração de energia

O serviço Matrix fornece serviços de construção e manutenção para infraestrutura de geração de energia.

• Serviços de usina nuclear
• Manutenção da usina de combustível fóssil
• Infraestrutura de energia energética renovável

Segmento de geração de energia	Receita anual
Projetos de geração de energia	US $ 129,6 milhões

Indústrias químicas e petroquímicas

O serviço Matrix fornece serviços especializados de construção industrial para instalações de processamento químico.

Principais clientes da indústria química	Valor do contrato
Dow Chemical	US $ 53,4 milhões
LyondellBasell	US $ 37,9 milhões

Setor de mineração e metais

O serviço Matrix suporta construção e manutenção industrial para operações de mineração e metalúrgica.

• Instalações de processamento mineral
• Construção de refinaria de metal
• Desenvolvimento de infraestrutura de mineração

Receita do segmento de mineração	2022 Valor
Receita total do setor de mineração	US $ 92,1 milhões

Projetos de infraestrutura de energia renovável

O Matrix Service participa ativamente do desenvolvimento e construção de projetos de energia renovável.

Tipo de projeto de energia renovável	Investimento anual
Infraestrutura solar	US $ 67,3 milhões
Projetos de energia eólica	US $ 55,6 milhões

Matrix Service Company (MTRX) - Modelo de negócios: estrutura de custos

Despesas de trabalho e força de trabalho

A partir de 2022 Relatório Anual, as despesas totais de mão -de -obra da Matrix Service Company foram de US $ 203,4 milhões. Total Workforce Headcount: 2.200 funcionários.

Categoria de custo de mão -de -obra	Despesa anual ($)
Trabalho direto	142,380,000
Trabalho indireto	61,020,000

Compra e manutenção de equipamentos

As despesas anuais relacionadas ao equipamento totalizaram US $ 47,6 milhões em 2022.

• Aquisição de equipamentos: US $ 32,1 milhões
• Manutenção do equipamento: US $ 15,5 milhões

Custos de material e fornecimento

Despesas totais de material e fornecimento para 2022: US $ 89,3 milhões.

Categoria de fornecimento	Custo anual ($)
Suprimentos industriais	53,580,000
Materiais de construção	35,720,000

Investimentos de pesquisa e desenvolvimento

Despesas de P&D em 2022: US $ 6,2 milhões, representando 1,8% da receita total.

Despesas do Programa de Segurança e Treinamento

Investimentos totais de segurança e treinamento em 2022: US $ 4,7 milhões.

• Equipamento de segurança: US $ 2,1 milhões
• Programas de treinamento: US $ 1,9 milhão
• Treinamento de conformidade: US $ 700.000

Matrix Service Company (MTRX) - Modelo de negócios: fluxos de receita

Contratos de projeto de construção industrial

Para o ano fiscal de 2023, a Matrix Service Company relatou receita total de US $ 611,7 milhões, com contribuições significativas dos contratos de projeto de construção industrial.

Tipo de projeto	Contribuição da receita	Porcentagem da receita total
Construção de petróleo e gás	US $ 287,5 milhões	47%
Poder e construção industrial	US $ 214,2 milhões	35%

Taxas de serviço de manutenção e recuperação

As receitas de serviços de manutenção para 2023 totalizaram US $ 92,3 milhões, representando aproximadamente 15% da receita total da empresa.

• Duração média do contrato de manutenção: 12-18 meses
• Taxa de serviço de manutenção típica Faixa: US $ 500.000 - US $ 5 milhões por contrato

Serviços de fabricação e fabricação

Os serviços de fabricação geraram US $ 37,6 milhões em receita durante o ano fiscal de 2023.

Segmento de fabricação	Receita
Fabricação industrial	US $ 24,5 milhões
Fabricação modular	US $ 13,1 milhões

Acordos de serviço de longo prazo

Os contratos de serviço de longo prazo contribuíram com US $ 68,4 milhões para a receita da empresa em 2023.

• Valor médio do contrato: US $ 3,2 milhões
• Duração típica do contrato: 3-5 anos

Receitas de consulta de engenharia e design

Os serviços de consulta de engenharia geraram US $ 22,5 milhões em receita para o ano fiscal de 2023.

Tipo de consulta	Receita	Porcentagem de receita de consulta
Engenharia de processos	US $ 12,7 milhões	56%
Serviços de design detalhados	US $ 9,8 milhões	44%

Matrix Service Company (MTRX) - Canvas Business Model: Value Propositions

Full project life cycle service: engineering through maintenance for critical infrastructure.

Matrix Service Company supports the entire asset life-cycle for energy and utility infrastructure customers, a track record spanning over 40+ years. The company's backlog as of September 30, 2025, stood at $1.2 billion, providing revenue visibility. For the first quarter of fiscal 2026, total project awards were $187.8 million. The company's full-year fiscal 2026 revenue guidance projects revenue between $875 million and $925 million.

The business is structured around key segments that reflect this end-to-end capability:

• Storage and Terminal Solutions segment revenue in Q1 FY2026 was $109.5 million.
• Utility and Power Infrastructure segment revenue in Q1 FY2026 was not explicitly stated, but the segment drove strong project awards.
• Process and Industrial Facilities segment revenue in Q1 FY2026 was not explicitly stated.

Expertise in high-growth areas like LNG, NGL, and ammonia storage.

The company is uniquely positioned to capitalize on multi-year spending cycles within LNG and NGL infrastructure. This focus is evident in segment performance, where the Storage and Terminal Solutions segment saw revenue increase 40% year-over-year in the first quarter of fiscal 2026, reaching $109.5 million. This activity is driven primarily by work for LNG storage and specialty vessel projects. The demand for LNG, NGL, and ammonia storage and terminal infrastructure remains robust.

Here is a look at the segment performance driving this value proposition in the latest reported quarter:

Segment	Q1 FY2026 Revenue (in millions)	Year-over-Year Revenue Change	Q1 FY2026 Book-to-Bill Ratio
Storage and Terminal Solutions	$109.5	+40%	1.2x
Consolidated	$211.9	+28%	0.9x

The Storage and Terminal Solutions segment's book-to-bill ratio of 1.2x in Q1 FY2026 shows new awards outpaced revenue recognition for that specific area.

High-quality, safe execution of complex, large-scale industrial projects.

The company emphasizes disciplined execution across its expanding project base. While specific safety metrics like Total Recordable Incident Rate are not provided, operational performance is reflected in revenue growth and margin targets. For the first quarter of fiscal 2026, consolidated revenue grew 28% year-over-year to $211.9 million. The company noted that direct gross margins were aligned to its 10% target.

The company's financial strength supports complex project execution:

• Liquidity at September 30, 2025, was $248.9 million.
• The Company had no outstanding debt as of September 30, 2025.
• Cash flow from operations for the quarter was positive.

Turnkey solutions that enhance system reliability and resilience.

The Utility and Power Infrastructure segment is driven by customer prioritization of investment in grid reliability and resilience. This segment benefits from work associated with LNG peak shaving projects. The company's focus on its Win, Execute, Deliver strategy supports this value proposition. The overall backlog as of June 30, 2025, was $1.4 billion, which supported 85% of the midpoint of the fiscal 2026 revenue guidance.

Matrix Service Company (MTRX) - Canvas Business Model: Customer Relationships

You're looking at how Matrix Service Company keeps its clients locked in for the long haul, which is key when you're dealing with massive capital projects in the energy and industrial sectors. The relationship focus here is less about quick transactions and more about securing multi-year revenue visibility, even if the exact repeat revenue percentage isn't publically stated in the latest filings.

The strength of the relationship is definitely visible in the size of the committed work. As of September 30, 2025, Matrix Service Company had a total backlog of $1.2 billion, which represents future revenue visibility. This backlog is the direct result of successful sales and bidding efforts, which is how they secure these large engineering and construction (E&C) contracts.

For large capital expenditure clients, the goal is clearly multi-year commitment. Management commentary confirms this strategic push, noting they are actively pursuing several large, multi-year project awards for late fiscal 2026 and into fiscal 2027. This signals a relationship strategy built on multi-year project lifecycles, not just one-off jobs. To be fair, even for maintenance contracts without minimums, the company only includes revenue expected over the next 12 months in the backlog calculation, showing a conservative approach to recognizing relationship-based recurring revenue.

The direct sales and bidding process is quantified by the flow of new work. You see this activity reflected in the project awards announced throughout the fiscal year. For example, in the first quarter of fiscal 2026, project awards totaled $187.8 million. This constant flow of new awards against the recognized revenue defines the success of their direct engagement model. If onboarding takes 14+ days, churn risk rises, but for MTRX, the risk is more about award timing.

Here's a quick look at the contract flow metrics from the recent reporting periods:

Metric	Fiscal Year 2025 (Full Year)	Fiscal Q1 2026
Revenue	$769.3 million	$211.9 million
Total Project Awards	$726.0 million	$187.8 million
Ending Backlog	Not explicitly stated (FY2025 Q4 was $1.4 billion)	$1.2 billion
Book-to-Bill Ratio	0.9x	0.9x

The relationship strategy is supported by the overall financial outlook, which suggests confidence in future client commitments. Matrix Service Company reaffirmed its full-year fiscal 2026 revenue guidance to be between $875 million and $925 million, implying year-over-year growth of 14% to 20%. This forward guidance is a direct reflection of the company's perceived strength of its customer relationships and the pipeline visibility they have cultivated.

The structure of client engagement involves several key relationship touchpoints:

• Securing work through competitive bidding processes.
• Focusing on specialty E&C markets.
• Pursuing long-term, multi-year contracts.
• Maintaining a robust opportunity pipeline, over $6.7 billion as of early Q1 FY2026.

Finance: draft 13-week cash view by Friday.

Matrix Service Company (MTRX) - Canvas Business Model: Channels

You're looking at how Matrix Service Company (MTRX) gets its engineering and construction services in front of the right industrial and utility clients. It's a high-touch, project-driven approach, which makes sense given their focus on large-scale infrastructure.

The direct sales effort is supported by a workforce of 2,239 total employees as of late 2025, focused on the three main segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. This team targets major energy and industrial players who need complex, multi-year build-outs.

The physical footprint is key to service delivery and client proximity. Matrix Service Company maintains a network of over 20+ Locations globally, which includes corporate, regional, and fabrication facilities. This physical presence helps them manage projects across North America and internationally.

Here's a breakdown of where you can find their operations:

• Corporate Headquarters: Tulsa, OK.
• International Offices: Sydney, Australia, and Seoul, South Korea.
• Canadian Presence: Regional/International Office in Leduc, AB.
• US Fabrication Facilities: Bakersfield, CA; Bellingham, WA; Catoosa, OK.

The physical locations are critical for supporting the direct sales force and executing the work. For instance, their Q2 Fiscal 2025 results showed revenue growth driven by work in specialty vessels and LNG storage, which requires local execution support. Here's a look at some of their key operational hubs:

Location Type	City/State/Province	Specific Function
Corporate Headquarters	Tulsa, OK	Main Office
Regional Office	Houston, TX	Engineering Center
Fabrication Facility	Bakersfield, CA	Fabrication
International Office	Leduc, AB, Canada	International Operations
Regional Office	Broomall, PA	Regional Support

Client acquisition heavily relies on formal bidding for large utility and energy projects. You see this in the backlog numbers; for example, in Q1 Fiscal 2025, project awards totaled $148.0 million, leading to a total backlog of $1.4 billion. This indicates a steady stream of successful proposals being converted into secured work.

The formal proposal process is how they secure the massive contracts that drive their revenue, which was guided to be between $900 million and $950 million for the full Fiscal Year 2025. A concrete example of a successful bid channel is the November 2025 announcement where Matrix NAC was awarded the balance of plant work for a 100,000 m3, (630,000 barrels) storage tank for Delaware River Partners. That project followed a previous award in Fiscal 2025 for the inner steel tank scope, showing repeat business secured through competitive, formal processes.

The book-to-bill ratio is a direct indicator of this channel's effectiveness. In Q3 Fiscal 2025, they hit a 1.5x book-to-bill ratio from $301.2 million in awards, which is exactly what you want to see when relying on large project bids.

Finance: draft 13-week cash view by Friday.

Matrix Service Company (MTRX) - Canvas Business Model: Customer Segments

You're looking at the core client base for Matrix Service Company (MTRX) as of late 2025, which is defined by the end-markets served across its three operating segments. The company's focus remains on providing engineering, fabrication, construction, maintenance, and repair services to foundational North American energy and industrial infrastructure.

The customer segments map closely to the company's reporting structure. The Storage and Terminal Solutions segment serves clients needing storage tanks and terminals, heavily involved in LNG and NGL infrastructure. The Utility and Power Infrastructure segment supports investor-owned utilities and power generation, with strong momentum noted in Q3 and Q4 Fiscal 2025 from work associated with LNG peak shaving projects. The Process and Industrial Facilities segment supports petrochemicals, refining, and other industrial clients.

Here's a look at the segment revenue contribution based on the Third Quarter Fiscal 2025 Trailing Twelve Month (TTM) data, which gives a good view of the full-year customer mix:

Customer Segment Focus (MTRX Segment)	TTM Revenue Contribution (as of Q3 FY25)	Latest Quarterly Revenue (Q4 FY25)	Latest Quarterly Revenue (Q3 FY25)
Energy and industrial clients (Storage and Terminal Solutions)	46%	$96.1 million	$96.1 million
Investor-owned utilities and power generation (Utility and Power Infrastructure)	32%	Data not explicitly isolated for U&PI in Q4 FY25 results	Revenue growth driven by LNG peak shaving projects
Energy and industrial clients (Process and Industrial Facilities)	22%	$47.3 million	$45.4 million

The full-year revenue for Fiscal 2025 was reported at $769.3 million. You can see the Storage and Terminal Solutions segment showed significant year-over-year growth, with Q4 FY25 revenue at $96.1 million compared to $70.0 million in Q4 FY24. Still, the Process and Industrial Facilities segment saw revenue decrease in Q4 FY25 to $47.3 million from $54.2 million in Q4 FY24, partly due to the completion of a large renewable diesel project.

The pipeline of future work shows where Matrix Service Company expects its customer base to grow and where it is focusing business development efforts:

• Total backlog stood at $1.4 billion as of the end of Q3 Fiscal 2025.
• The identified opportunity pipeline was approximately $7.0 billion as of March 31, 2025.
• This opportunity pipeline is heavily weighted toward the Storage & Terminal Solutions segment at 60%.
• Process & Industrial Facilities accounted for 23% of the opportunity pipeline.
• Utility & Power Infrastructure represented 17% of the opportunity pipeline.

The company is positioned to benefit from anticipated multi-year spending cycles, with management guiding for Fiscal 2026 revenue between $875 million and $925 million, implying 17% growth at the midpoint over the Fiscal 2025 total. This forward view suggests continued reliance on these core industrial and utility customers.

Matrix Service Company (MTRX) - Canvas Business Model: Cost Structure

You're looking at the expense side of the Matrix Service Company (MTRX) operations as of late 2025, which is heavily weighted towards project execution costs and managing the fallout from past projects. The cost structure reflects a business scaling up headcount to meet market demand while simultaneously dealing with legacy project issues.

Labor and personnel costs (direct and construction overhead)

Direct labor and construction overhead are central to the cost of revenue. Matrix Service Company structured its construction overhead resources to support anticipated revenue growth and a heavy proposal environment. However, this led to periods of under-recovery, meaning overhead costs were not fully absorbed by the revenue recognized.

The impact of this overhead management is clear in the gross margin figures:

• In the first quarter of fiscal 2025, the negative impact from the under-recovery of construction overhead costs was over 600 basis points.
• The company noted that construction overhead resources were structured to support strong market demand and anticipated revenue growth in each segment.

Materials and subcontractor costs for large-scale construction projects

While specific material costs aren't broken out separately from the cost of revenue, charges related to subcontractor performance are a notable cost component, especially for older projects. For instance, the fourth quarter of fiscal 2025 included a charge for an unfavorable court decision related to a subcontractor's failure to pay lower tier contractors on a pandemic-era project.

Selling, General, and Administrative (SG&A) expenses

SG&A expenses show a direct correlation with personnel growth needed to support market demand. You can see the quarterly fluctuation and the planned increase in headcount driving the Q1 figure.

Here's a look at the reported SG&A expenses across the first few quarters of fiscal 2025:

Reporting Period	SG&A Expense Amount	Context/Notes
Q1 FY2025 (ended Sept 30, 2024)	$18.6 million	Increase primarily due to an increase in headcount to support strong market demand and growth.
Q2 FY2025 (ended Dec 31, 2024)	$17.3 million	In line with the company's normal run rate.
Q4 FY2025 (ended June 30, 2025)	$17.6 million	Included a $1.7 million increase in cash-settled stock compensation.

Costs associated with managing project disputes and legal arbitration

Matrix Service Company incurred significant, discrete charges in the fourth quarter of fiscal 2025 related to project issues and legal matters, which heavily impacted net income. The total impact from these four issues in Q4 FY2025 was $14.9 million.

These specific charges that hit the income statement include:

• A charge related to labor cost overruns on a crude oil terminal project that was complete.
• An updated reserve to a contract dispute on a project dating back to the pandemic, which was in arbitration.
• A charge for an unfavorable court decision related to a subcontractor on another pandemic era project.
• Restructuring costs of $3.4 million related to organizational realignment.

Also, gross margin in Q4 FY2025 was negatively impacted by a separate $6.4 million adjustment related to a legacy project completed in calendar 2021.

Matrix Service Company (MTRX) - Canvas Business Model: Revenue Streams

Matrix Service Company generates its revenue through three primary operating segments, which reflect its core industrial engineering, construction, and maintenance services across the energy and industrial markets. The Total annual revenue for fiscal year 2025 was $769.3 million.

The revenue composition across these segments shows varying performance throughout the fiscal year 2025, with significant growth in certain areas offsetting declines in others. Here's a look at the quarterly revenue figures for the first three reported quarters and the final quarter of fiscal 2025:

Revenue Stream Segment	Q1 Fiscal 2025 Revenue (ended Sep 30, 2024)	Q2 Fiscal 2025 Revenue (ended Dec 31, 2024)	Q4 Fiscal 2025 Revenue (ended Jun 30, 2025)
Storage and Terminal Solutions	$78.2 million	$95.5 million	$96.1 million
Utility and Power Infrastructure	$55.9 million	$61.1 million	$73.0 million
Process and Industrial Facilities	$31.4 million	$30.6 million	$47.3 million (Derived)
Quarterly Total Revenue	$165.6 million	$187.2 million	$216.4 million

Construction and fabrication services for Storage and Terminal Solutions (e.g., LNG tanks) represent a key revenue driver. This segment saw revenue increase from $78.2 million in the first quarter of fiscal 2025 to $96.1 million in the fourth quarter of fiscal 2025. This activity is driven primarily by demand for LNG, NGL, and ammonia storage and terminal infrastructure.

Engineering and construction for Utility and Power Infrastructure (e.g., LNG peak shaving) also showed strong growth throughout the year. Revenue for this stream grew from $55.9 million in Q1 fiscal 2025 to $73.0 million in Q4 fiscal 2025. Management specifically highlighted strong multiyear demand in LNG peak shaving projects as a benefit.

Process and Industrial Facilities construction and maintenance services experienced more volatility. Revenue was $31.4 million in Q1 fiscal 2025, followed by $30.6 million in Q2 fiscal 2025, before rising to an estimated $47.3 million in Q4 fiscal 2025 (calculated from total Q4 revenue of $216.4 million minus the other two segments). The lower initial figures were attributed to the completion of a large renewable diesel project.

The company's overall revenue generation is supported by its backlog, which stood at $1.4 billion at the end of the fourth quarter of fiscal 2025. The total project awards for the full fiscal year 2025 amounted to $726.0 million, resulting in a full-year book-to-bill ratio of 0.9x.

• The fiscal 2025 full-year book-to-bill ratio of 0.9x indicates that new awards did not fully keep pace with revenue recognition for the year.
• Total project awards for the fourth quarter of fiscal 2025 were $186.3 million.
• Liquidity at the end of fiscal 2025 (June 30, 2025) was $284.5 million with no outstanding debt.
• Cash flow from operations for the full fiscal year 2025 was $117.5 million.