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Argan finished fiscal 2026 with record backlog, no debt and nearly $895 million of cash and investments. The AGX question is whether Power-heavy backlog converts into profitable revenue without project execution pain.
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ADSE has battery-buffered charging technology and a service-led pivot, but 2025 revenue collapsed, the annual report is delayed, and the turnaround now depends on cash, capital structure, C&I execution, and recurring revenue.
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