Orion Group Holdings, Inc. (ORN): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo da infraestrutura marinha e engenharia com a Orion Group Holdings, Inc. (ORN), uma Powerhouse que transforma paisagens costeiras através de soluções inovadoras de construção. Essa empresa dinâmica navega com desafios marítimos complexos com conhecimentos incomparáveis, prestando serviços abrangentes que abrangem infraestrutura do governo, projetos de energia offshore e restauração ambiental. Desde a dragagem de ambientes marinhos sofisticados até o suporte às instalações de parques eólicos de ponta offshore, o modelo de negócios do Orion Group revela um plano estratégico de proezas tecnológicas, parcerias estratégicas e recursos de missão crítica que os posicionam como líder em engenharia marinha e desenvolvimento de infraestruturas.

Orion Group Holdings, Inc. (ORN) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com empresas de construção e infraestrutura marítimas

A Orion Group Holdings mantém parcerias estratégicas com várias empresas importantes de construção marítima para expandir as capacidades do projeto e o alcance geográfico.

Empresa parceira	Foco em parceria	Ano estabelecido
Weeks Marine, Inc.	Projetos de infraestrutura marinha	2019
Great Lakes Dredge & Dock Company	Projetos de restauração costeira	2020

Parcerias com agências governamentais e empreiteiros militares

A Orion Group Holdings estabeleceu parcerias críticas com entidades governamentais e de defesa.

• Corpo de Engenheiros do Exército dos EUA - Contratos de Reabilitação de Infraestrutura
• Departamento de Defesa - Projetos de Construção da Base Marinha
• Comando de Engenharia de Instalações Navais - Desenvolvimento de Infraestrutura Marítima

Colaboração com empresas de engenharia marítima e serviços ambientais

A empresa colabora com empresas especializadas de engenharia marítima para aprimorar as capacidades técnicas.

Parceiro de engenharia	Escopo de colaboração	Valor do contrato
Tetra Tech, Inc.	Serviços de Avaliação Ambiental	US $ 4,2 milhões (2023)
CH2M HILL	Design de infraestrutura marinha	US $ 3,7 milhões (2023)

Joint ventures em projetos de infraestrutura costeira e marinha

A Orion Group Holdings se envolve em joint ventures estratégicas para expandir os recursos do projeto e o alcance do mercado.

• Joint venture da infraestrutura da Costa do Golfo - Projeto de Restauração Costeira de US $ 42,5 milhões
• Parceria de Construção Marinha do Sudeste - US $ 35,6 milhões de desenvolvimento de infraestrutura marinha
• Colaboração de expansão do porto da costa oeste - Iniciativa de modernização portuária de US $ 56,3 milhões

Orion Group Holdings, Inc. (ORN) - Modelo de negócios: Atividades -chave

Serviços de construção e dragagem marítima

O Orion Group Holdings reportou US $ 311,4 milhões em receita de construção marinha para o ano fiscal de 2022. Os principais serviços de construção marítima incluem:

• Projetos de restauração costeira
• Reabilitação de infraestrutura marinha
• Construção e reparo subaquático

Categoria de serviço	Receita anual (2022)	Tipos de projeto
Dragagem costeira	US $ 142,6 milhões	Manutenção do canal de navegação
Infraestrutura marinha	US $ 89,3 milhões	Melhorias de porto e porto

Desenvolvimento e reparo de infraestrutura

O Orion Group completou 87 projetos de infraestrutura em 2022, com um valor total do projeto de US $ 456,2 milhões.

• Reabilitação da ponte
• Construção de paredão
• Atualizações do terminal marinho

Suporte de instalação do parque eólico offshore

O Orion Group investiu US $ 23,7 milhões em recursos de infraestrutura eólica offshore em 2022.

Serviços de apoio ao parque eólico	Investimento	Escopo do projeto
Instalação da fundação	US $ 12,4 milhões	Construção da base de turbinas eólicas offshore
Cabo deitando	US $ 8,3 milhões	Infraestrutura elétrica submarina

Projetos de remediação ambiental

O segmento de remediação ambiental gerou US $ 67,5 milhões em receita durante 2022.

• Remoção contaminada de sedimentos
• Restauração ecológica
• Gerenciamento de resíduos perigosos

Construção civil pesada em ambientes marinhos

O segmento de construção marinha civil pesada alcançou US $ 178,9 milhões em receitas do projeto em 2022.

Tipo de construção	Receita	Principais projetos
Infraestrutura da base militar	US $ 62,4 milhões	Atualizações da base naval
Sistemas de defesa costeira	US $ 45,6 milhões	Infraestrutura de proteção contra inundações

Orion Group Holdings, Inc. (ORN) - Modelo de negócios: Recursos -chave

Equipamento especializado em construção marinha

No ano fiscal de 2023, a Orion Group Holdings mantinha um portfólio especializado em equipamentos de construção marítimos, avaliado em aproximadamente US $ 127,3 milhões. O inventário de equipamentos da empresa inclui:

Tipo de equipamento	Quantidade	Valor estimado
Barcaças de guindaste	12	US $ 42,5 milhões
Navios de construção marinha	8	US $ 35,7 milhões
Equipamento de dragagem especializado	6	US $ 24,1 milhões

Experiência de engenharia e força de trabalho técnica

A Orion Group Holdings emprega 723 profissionais em período integral em 31 de dezembro de 2023, com a seguinte composição da força de trabalho:

• Equipe de engenharia: 187 profissionais
• Trabalhadores técnicos: 342 técnicos qualificados
• Equipe de gerenciamento de projetos: 94 especialistas
• Pessoal de Suporte e Administrativo: 100 funcionários

Extensa frota de embarcações marítimas e máquinas especializadas

A frota e máquinas marinhas da empresa representam um valor total de ativos de US $ 156,8 milhões em 2023, incluindo:

Categoria de embarcação/máquinas	Número de unidades	Valor total do ativo
Navios de construção offshore	5	US $ 67,3 milhões
Equipamento marítimo especializado	22	US $ 59,5 milhões
Embarcações de suporte	9	US $ 30 milhões

Capacidades tecnológicas avançadas em engenharia marítima

O Orion Group Holdings investe US $ 4,2 milhões anualmente em tecnologia e inovação, com os principais recursos tecnológicos, incluindo:

• Software avançado de modelagem 3D
• Equipamento de levantamento hidrográfico
• Plataformas de gerenciamento de projetos em tempo real
• Robótica subaquática e tecnologias de inspeção

Forte gerenciamento de projetos e experiência técnica

Os recursos de gerenciamento de projetos da empresa são demonstrados por meio de:

• Taxa média de conclusão do projeto: 94,6%
• Valor total do portfólio do projeto em 2023: US $ 312,5 milhões
• Experiência média de gerenciamento de projetos: 14,3 anos por gerente sênior

Orion Group Holdings, Inc. (ORN) - Modelo de negócios: proposições de valor

Soluções abrangentes de construção marinha e infraestrutura

O Orion Group Holdings fornece serviços de construção marítima com as seguintes métricas principais do projeto:

Categoria de projeto	Receita anual	Taxa de conclusão do projeto
Infraestrutura marinha	US $ 382,4 milhões	94%
Engenharia costeira	US $ 156,7 milhões	91%
Construção offshore	US $ 215,3 milhões	89%

Serviços de engenharia marítima confiáveis ​​e de alta qualidade

As métricas de qualidade de serviço incluem:

• ISO 9001: 2015 Gestão de qualidade certificada
• Classificação média de segurança do projeto: 98,6%
• Pontuação de satisfação do cliente: 4,7/5

Experiência em projetos costeiros e offshore complexos

Complexidade do projeto	Número de projetos	Valor total do projeto
Altamente complexo	37	US $ 612,5 milhões
Moderadamente complexo	52	US $ 287,6 milhões

Execução sustentável e ambientalmente consciente do projeto

Métricas de sustentabilidade ambiental:

• Redução de emissões de carbono: 22% desde 2019
• Investimento em tecnologia verde: US $ 14,3 milhões
• Taxa de conformidade ambiental: 100%

Recursos de desenvolvimento de infraestrutura econômicos

Métrica de eficiência de custos	Valor
Economia média de custo do projeto	17.5%
Redução de custos operacionais	US $ 23,6 milhões
Taxa de melhoria de eficiência	12.3%

Orion Group Holdings, Inc. (ORN) - Modelo de Negócios: Relacionamentos do Cliente

Relacionamentos baseados em contratos de longo prazo

A partir de 2023 Relatório Anual, a Orion Group Holdings mantém 87 contratos ativos de construção marinha e infraestrutura de longo prazo com atraso total de contratos de US $ 384,7 milhões.

Tipo de contrato	Duração média	Intervalo de valor anual
Projetos de infraestrutura marinha	18-36 meses	US $ 75 a US $ 250 milhões
Contratos de infraestrutura do governo	24-48 meses	US $ 100 a US $ 350 milhões

Engajamento direto do cliente específico do projeto

Em 2023, a Orion Group Holdings atendeu 62 projetos de clientes exclusivos nos setores marítimos e de infraestrutura com estratégias de engajamento direto.

• Taxa de retenção de clientes repetida: 73%
• Valor médio do projeto: US $ 4,2 milhões
• Cobertura geográfica: 14 estados nos Estados Unidos

Consulta técnica e serviços de consultoria

A receita de consulta técnica para 2023 atingiu US $ 42,6 milhões, representando 17% da receita total da empresa.

Categoria de consulta	Contribuição da receita	Taxa horária média
Engenharia Marinha	US $ 21,3 milhões	$ 375/hora
Planejamento de infraestrutura	US $ 15,7 milhões	US $ 425/hora

Soluções personalizadas para necessidades específicas do cliente

O desenvolvimento de soluções personalizado gerou US $ 67,4 milhões em receitas especializadas do projeto durante 2023.

• Taxa de sucesso da personalização: 89%
• Complexidade média do projeto: médio a alto
• Classificação de satisfação do cliente: 4.6/5

Reputação de confiabilidade e excelência técnica

As métricas de confiança do cliente demonstram um forte posicionamento de mercado com um feedback positivo de 92% do cliente e zero falhas principais do projeto em 2023.

Métrica de confiabilidade	Pontuação de desempenho	Referência da indústria
Entrega de projeto no prazo	94%	87%
Aderência orçamentária	96%	89%

Orion Group Holdings, Inc. (ORN) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir de 2024, a Orion Group Holdings mantém uma equipe de vendas direta focada nos serviços de construção e infraestrutura marítimos. A equipe de vendas metas:

• Projetos de infraestrutura do governo
• Contratos de construção marítima comercial
• Desenvolvimentos de infraestrutura marítima industrial

Métricas de canal de vendas	2024 dados
Tamanho direto da equipe de vendas	37 representantes de vendas profissionais
Cobertura anual de vendas	US $ 456,2 milhões em potencial valor do contrato
Alcance geográfico	Regiões do continente e da costa do Golfo dos Estados Unidos

Conferências e feiras do setor

O Orion Group Holdings participa ativamente de eventos da indústria de construção marinha e infraestrutura.

Participação da conferência	2024 Detalhes
Conferências anuais participaram	8 Conferências nacionais de infraestrutura marítima
Representação da feira	5 grandes exposições da indústria

Site corporativo online

A empresa mantém uma presença digital abrangente para o envolvimento do cliente.

Métricas de canal do site	2024 Estatísticas
Visitantes mensais do site	24.500 visitantes únicos
Submissões de solicitação on -line	342 consultas do projeto por trimestre

Processos de solicitação de proposta (RFP)

O Orion Group Holdings responde sistematicamente a solicitações complexas do projeto de infraestrutura.

Desempenho do canal RFP	2024 dados
Envios anuais de RFP	127 propostas abrangentes
Taxa de vitória da RFP	42,3% de aquisições de contrato bem -sucedidas

Plataformas de redes profissionais

Engajamento estratégico por meio de canais profissionais de rede digital.

Plataforma de rede	2024 Métricas de engajamento
Seguidores da empresa do LinkedIn	7.892 conexões profissionais
Leads anuais de rede profissional	86 contatos qualificados de desenvolvimento de negócios

Orion Group Holdings, Inc. (ORN) - Modelo de negócios: segmentos de clientes

Agências de infraestrutura governamental

Em 2023, a Orion Group Holdings garantiu US $ 187,4 milhões em contratos de infraestrutura do governo. Os projetos de infraestrutura federal e estadual representaram 42% da receita total da empresa.

Tipo de agência	Valor do contrato	Porcentagem de receita
Agências de infraestrutura federal	US $ 124,6 milhões	28%
Agências de infraestrutura estatal	US $ 62,8 milhões	14%

Contratados militares e de defesa

Os contratos militares e de defesa geraram US $ 93,2 milhões em receita para a Orion Group Holdings em 2023.

• Projetos do Departamento de Defesa: US $ 67,5 milhões
• Contratos de construção naval: US $ 25,7 milhões

Empresas de energia offshore

O setor de energia offshore representou US $ 156,9 milhões em receitas do projeto em 2023.

Segmento de energia	Valor do contrato
Plataformas de petróleo offshore	US $ 98,3 milhões
Instalações offshore de energia renovável	US $ 58,6 milhões

Organizações de desenvolvimento costeiro

Os projetos de desenvolvimento costeiro representaram US $ 74,5 milhões em receitas da empresa durante 2023.

• Infraestrutura costeira municipal: US $ 42,3 milhões
• Desenvolvimento costeiro privado: US $ 32,2 milhões

Projetos de restauração ambiental

Os contratos de restauração ambiental totalizaram US $ 45,8 milhões em 2023.

Tipo de restauração	Valor do contrato
Restauração do pântano	US $ 23,4 milhões
Reabilitação do ecossistema costeiro	US $ 22,4 milhões

Orion Group Holdings, Inc. (ORN) - Modelo de negócios: estrutura de custos

Altos custos de manutenção e aquisição de equipamentos

A partir de 2023, o ano fiscal, a Orion Group Holdings relatou equipamentos totais e custos fixos de ativos de US $ 184,3 milhões. As despesas de capital da empresa para equipamentos de construção marítima foram de aproximadamente US $ 12,5 milhões no período de relatório anual.

Categoria de equipamento	Custo de manutenção anual	Valor de reposição
Navios de construção marinha	US $ 7,2 milhões	US $ 45,6 milhões
Equipamento de construção especializado	US $ 4,8 milhões	US $ 32,3 milhões
Máquinas pesadas	US $ 3,5 milhões	US $ 26,7 milhões

Despesas de força de trabalho técnica intensiva em mão-de-obra

Em 2023, a Orion Group Holdings sofreu despesas totais de mão -de -obra de US $ 128,6 milhões, com uma força de trabalho média de 1.200 funcionários.

• Salário médio anual para trabalhadores técnicos: US $ 85.500
• Benefícios totais e custos de compensação: US $ 42,3 milhões
• Despesas de treinamento e desenvolvimento profissional: US $ 2,1 milhões

Investimentos de pesquisa e desenvolvimento

A empresa investiu US $ 3,7 milhões em atividades de pesquisa e desenvolvimento durante o ano fiscal de 2023, concentrando -se na tecnologia de construção marinha e inovações de engenharia.

Despesas operacionais específicas do projeto

Tipo de projeto	Custo operacional médio	Total anual
Infraestrutura marinha	US $ 22,6 milhões por projeto	US $ 135,6 milhões
Construção offshore	US $ 18,3 milhões por projeto	US $ 109,8 milhões
Remediação ambiental	US $ 15,4 milhões por projeto	US $ 92,4 milhões

Investimentos de atualização de tecnologia e equipamentos

As despesas de atualização da tecnologia totalizaram US $ 5,2 milhões em 2023, com foco nos sistemas de gerenciamento de projetos digitais e tecnologias avançadas de construção marítima.

• Investimentos de software e infraestrutura digital: US $ 2,3 milhões
• Tecnologia avançada de sensor e monitoramento: US $ 1,7 milhão
• Sistemas de segurança cibernética e proteção de dados: US $ 1,2 milhão

Orion Group Holdings, Inc. (ORN) - Modelo de negócios: fluxos de receita

Contratos do Projeto de Construção Marinha

Receita total de construção marinha para o ano fiscal de 2022: US $ 330,4 milhões

Tipo de contrato	Porcentagem de receita	Valor médio do contrato
Infraestrutura costeira	42%	US $ 7,2 milhões
Instalações de transporte marítimo	28%	US $ 5,6 milhões
Desenvolvimento portuário	30%	US $ 6,9 milhões

Serviços de Desenvolvimento de Infraestrutura

Receita de desenvolvimento de infraestrutura em 2022: US $ 87,6 milhões

• Projetos de infraestrutura comercial: US $ 52,3 milhões
• Projetos de infraestrutura do governo: US $ 35,3 milhões

Receitas de instalação do parque eólico offshore

Receita de instalação de vento no exterior para 2022: US $ 45,2 milhões

Localização do projeto	Receita	Porcentagem da receita total
Nordeste dos Estados Unidos	US $ 28,7 milhões	63.5%
Região do Atlântico Centro	US $ 16,5 milhões	36.5%

Taxas do projeto de remediação ambiental

Receita total de remediação ambiental em 2022: US $ 22,8 milhões

• Projetos de limpeza costeira: US $ 12,4 milhões
• Restauração ambiental subaquática: US $ 10,4 milhões

Serviços especializados de consultoria em engenharia marítima

Receita de serviços de consultoria para 2022: US $ 15,6 milhões

Tipo de serviço de consultoria	Receita	Faixa de taxa horária
Avaliações técnicas	US $ 6,2 milhões	$ 250- $ 450/hora
Consultas de design	US $ 5,4 milhões	$ 300- $ 500/hora
Consultor de gerenciamento de projetos	US $ 4,0 milhões	$ 275- $ 425/hora

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.