WLDN · CIK 0001370450
What Willdan Group, Inc. told the SEC could break it.
1 self-disclosed vulnerability, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far — we surface every cited disclosure we’ve extracted for WLDN. More may follow as additional filings are processed.
In its own words
What could break it.
Customer concentration
- Two customers = 23.2% of consolidated FY2025 revenue (each >10%): Clark County School District (government agency) and Southern California Edison; revenue depends on PUC-administered utility energy-efficiency program budgetsmedium
Willdan has a concentrated customer base: in fiscal 2025 it had individual customers that each accounted for more than 10% of consolidated contract revenue, deriving 23.2% of consolidated revenue from just two — Clark County School District and Southern California Edison. The SCE relationship is captured separately as a customer-inverted edge; this risk highlights the government-agency leg (Clark County School District, a Nevada public school district) plus the overall two-customer concentration. A significant portion of revenue comes from energy-efficiency services to public utilities overseen by state/local public utility commissions, so cuts to ratepayer-funded EE program budgets, contract non-renewal, or loss of either top customer would materially reduce revenue. A real, named customer concentration with a regulatory-budget dependence.
“for fiscal year 2025, the Company derived 23.2 % of its consolidated contract revenue from two customers, Clark County School District and Southern California Edison.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings — including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“for fiscal year 2025, the Company derived 23.2 % of its consolidated contract revenue from two customers, Clark County School District and Southern California Edison.”
Cited →
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