MTRX on Nasdaq
Matrix It Ltd.
Logo: matrix.co.il3
Israeli construction - special trade contractors company based in Herzliya1
In its 2026 annual report the company says: “We provide engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. We maintain regional offices throughout the United States, Canada and other international locations, and operate through separate union and non-union subsidiaries. Our purpose is to create long-term value for our employees, business partners, shareholders and communities.”8 It was founded in 2001.1 It is part of Formula Systems (1985) Ltd.1 Its shares trade on Nasdaq under the symbol MTRX.1
Price unavailable
Last updated Oct 21, 2026.
Overview
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- TickerMTRX on Nasdaq1
- IndustryConstruction - Special Trade Contractors1
- HeadquartersHerzliya1
- Founded inIsrael1
- Websitewww.matrix.co.il
- Legal formlimited company1
- Incorporated inDE5
- Business address15 East 5Th Street, Suite 1100, Tulsa, Ok 741035
- Filer categoryAccelerated filer5
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We began operations in 1984 as an Oklahoma corporation under the name of Matrix Service. In 1989, we incorporated in the State of Delaware under the name of Matrix Service Company, and in 1990 we began trading on the NASDAQ exchange. We provide engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. We maintain regional offices throughout the United States, Canada and other international locations, and operate through separate union and non-union subsidiaries.8 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Storage and Terminal Solutions brought in 52% of the revenue Matrix It Ltd. broke down this way in fiscal 2026.
Business segments by year
| Business segments | 2024 | 2025 | 2026 |
|---|---|---|---|
| Storage and Terminal Solutions | $276.8M | $365.9M | $458.3M |
| Utility And Power Infrastructure | $183.9M | $248.7M | $283.4M |
| Process and Industrial Facilities | $266.3M | $154.7M | $131.9M |
Regions
United States brought in 95% of the revenue Matrix It Ltd. broke down this way in fiscal 2026.
Regions by year
| Regions | 2024 | 2025 | 2026 |
|---|---|---|---|
| United States | $662.4M | $719.4M | $828.1M |
| Canada | $56.4M | $41.2M | $38.4M |
| Other international | $9.3M | $8.7M | $7.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue93¢$809.7M
- Selling, general and admin7¢$63.6M
- Interest0¢$437.0K
- Income tax0¢$356.0K
Out of $873.6M in revenue.4 The company lost money this year.
Where each dollar of operating cash went, fiscal 2026
- Capital spending79¢$5.5M
- Kept or used elsewhere21¢$1.4M
Out of $6.9M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 |
|---|---|---|---|
| Revenue | $873.6M | $769.3M | $728.2M |
| Cost of revenue | $809.7M | $729.6M | $687.7M |
| Gross profit | $64.0M | $39.7M | $40.5M |
| Selling, general and administrative expenses | $63.6M | $71.2M | $70.1M |
| Restructuring costs and other | $10.0M | $3.6M | $501.0K |
| Operating loss | -$9.6M | -$35.1M | -$30.1M |
| Interest expense | -$437.0K | -$518.0K | -$1.1M |
| Interest income | $7.7M | $6.7M | $1.3M |
| Other (Note 3) | $114.0K | -$64.0K | $4.9M |
| Income (Loss) Attributable to Parent, before Tax | -$2.2M | -$29.0M | -$25.0M |
| Provision (benefit) for federal, state and foreign income taxes | $356.0K | $464.0K | -$36.0K |
| Net Income (Loss) Attributable to Parent | -$2.6M | -$29.5M | -$25.0M |
| Basic loss per common share | -$0.09 | -$1.06 | -$0.91 |
| Diluted loss per common share | -$0.09 | -$1.06 | -$0.91 |
| Basic (in shares) | 28.3M shares | 27.8M shares | 27.4M shares |
| Diluted (in shares) | 28.3M shares | 27.8M shares | 27.4M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $223.0M | $224.6M | ||
| Accounts receivable, net of allowance for credit losses | $172.0M | $155.0M | ||
| Costs and estimated earnings in excess of billings on uncompleted contracts | $29.2M | $29.8M | ||
| Inventories | $6.2M | $5.9M | ||
| Income taxes receivable | $82.0K | $110.0K | ||
| Prepaid expenses and other current assets | $4.3M | $4.3M | ||
| Disposal Group, Including Discontinued Operation, Assets, Current | $948.0K | |||
| Total current assets | $435.6M | $419.8M | ||
| Restricted cash | $25.0M | $25.0M | ||
| Property, plant and equipment, net | $36.3M | $42.1M | ||
| Operating lease right-of-use assets | $14.8M | $17.8M | ||
| Goodwill | $28.9M | $29.0M | $29.0M | $29.1M |
| Other intangible assets, net of accumulated amortization | $0 | $555.0K | ||
| Other assets, non-current (Note 2) | $62.0M | $66.0M | ||
| Total assets | $602.6M | $600.3M | ||
| Accounts payable | $108.7M | $80.5M | ||
| Billings on uncompleted contracts in excess of costs and estimated earnings | $299.9M | $323.6M | ||
| Accrued wages and benefits | $19.2M | $19.0M | ||
| Accrued insurance | $4.4M | $5.3M | ||
| Operating lease liabilities | $4.4M | $4.4M | ||
| Other accrued expenses | $5.8M | $3.6M | ||
| Total current liabilities | $442.4M | $436.4M | ||
| Deferred income taxes | $22.0K | $25.0K | ||
| Operating lease liabilities | $15.1M | $17.0M | ||
| Other liabilities, non-current | $3.2M | $4.2M | ||
| Total liabilities | $460.8M | $457.5M | ||
| Common Stock, Shares, Outstanding | 27.6M shares | |||
| Common Stock, Shares, Issued | 28.1M shares | |||
| Common stock, par value | $0.01 | |||
| Common stock0.01 par value; 60,000,000 shares authorized; 28,133,850 shares issued and outstanding as of June 30, 2026; 27,888,217 shares issued and 27,610,486 shares outstanding as of June 30, 2025, respectively | $281.0K | $279.0K | ||
| Additional paid-in capital | $150.5M | $150.0M | ||
| Retained earnings | $1.9M | $4.5M | ||
| Accumulated other comprehensive loss | -$10.8M | -$9.4M | ||
| Treasury stock, at cost; 0 and 277,731 shares as of June 30, 2026 and June 30, 2025; | $0 | -$2.6M | ||
| Total stockholders' equity | $141.9M | $142.7M | $164.2M | $181.5M |
| Total liabilities and stockholders' equity | $602.6M | $600.3M | ||
| Common stock, shares authorized | 60.0M shares | |||
| Treasury Stock, Shares | 0 shares | 277.7K shares |
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $223.0M | $224.6M | ||
| Accounts receivable, net of allowance for credit losses | $172.0M | $155.0M | ||
| Costs and estimated earnings in excess of billings on uncompleted contracts | $29.2M | $29.8M | ||
| Inventories | $6.2M | $5.9M | ||
| Income taxes receivable | $82.0K | $110.0K | ||
| Prepaid expenses and other current assets | $4.3M | $4.3M | ||
| Disposal Group, Including Discontinued Operation, Assets, Current | $948.0K | |||
| Total current assets | $435.6M | $419.8M | ||
| Restricted cash | $25.0M | $25.0M | ||
| Property, plant and equipment, net | $36.3M | $42.1M | ||
| Operating lease right-of-use assets | $14.8M | $17.8M | ||
| Goodwill | $28.9M | $29.0M | $29.0M | $29.1M |
| Other intangible assets, net of accumulated amortization | $0 | $555.0K | ||
| Other assets, non-current (Note 2) | $62.0M | $66.0M | ||
| Total assets | $602.6M | $600.3M | ||
| Accounts payable | $108.7M | $80.5M | ||
| Billings on uncompleted contracts in excess of costs and estimated earnings | $299.9M | $323.6M | ||
| Accrued wages and benefits | $19.2M | $19.0M | ||
| Accrued insurance | $4.4M | $5.3M | ||
| Operating lease liabilities | $4.4M | $4.4M | ||
| Other accrued expenses | $5.8M | $3.6M | ||
| Total current liabilities | $442.4M | $436.4M | ||
| Deferred income taxes | $22.0K | $25.0K | ||
| Operating lease liabilities | $15.1M | $17.0M | ||
| Other liabilities, non-current | $3.2M | $4.2M | ||
| Total liabilities | $460.8M | $457.5M | ||
| Common Stock, Shares, Outstanding | 27.6M shares | |||
| Common Stock, Shares, Issued | 28.1M shares | |||
| Common stock, par value | $0.01 | |||
| Common stock0.01 par value; 60,000,000 shares authorized; 28,133,850 shares issued and outstanding as of June 30, 2026; 27,888,217 shares issued and 27,610,486 shares outstanding as of June 30, 2025, respectively | $281.0K | $279.0K | ||
| Additional paid-in capital | $150.5M | $150.0M | ||
| Retained earnings | $1.9M | $4.5M | ||
| Accumulated other comprehensive loss | -$10.8M | -$9.4M | ||
| Treasury stock, at cost; 0 and 277,731 shares as of June 30, 2026 and June 30, 2025; | $0 | -$2.6M | ||
| Total stockholders' equity | $141.9M | $142.7M | $164.2M | $181.5M |
| Total liabilities and stockholders' equity | $602.6M | $600.3M | ||
| Common stock, shares authorized | 60.0M shares | |||
| Treasury Stock, Shares | 0 shares | 277.7K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 |
|---|---|---|---|
| Net loss | -$2.6M | -$29.5M | -$25.0M |
| Depreciation and amortization | $8.6M | $10.0M | $11.0M |
| Stock-based compensation expense | $7.1M | $8.9M | $7.7M |
| Restructuring, Settlement and Impairment Provisions | $2.9M | ||
| Gain on sale of property, plant and equipment | -$606.0K | $8.0K | -$4.9M |
| Other | $146.0K | $234.0K | $1.4M |
| Accounts receivable | -$11.3M | -$48.8M | -$12.1M |
| Costs and estimated earnings in excess of billings on uncompleted contracts | $533.0K | $4.1M | $11.0M |
| Inventories | -$273.0K | $2.9M | -$1.4M |
| Other assets and liabilities | -$2.4M | -$2.3M | $3.9M |
| Accounts payable | $27.7M | $14.8M | -$10.4M |
| Billings on uncompleted contracts in excess of costs and estimated earnings | -$23.6M | $152.3M | $85.9M |
| Accrued expenses | $560.0K | $4.7M | $5.4M |
| Cash Provided by (Used in) Operating Activity, Continuing Operation, Total | $6.9M | $117.5M | $72.6M |
| Capital expenditures | -$5.5M | -$7.7M | -$7.0M |
| Proceeds from asset sales (Note 3) | $1.9M | $240.0K | $6.0M |
| Cash Provided by (Used in) Investing Activity, Continuing Operation, Total | -$3.5M | -$7.4M | -$945.0K |
| Advances under asset-backed credit facility | $0 | $0 | $10.0M |
| Repayments of advances under asset-backed credit facility | $0 | $0 | -$20.0M |
| Payment of debt amendment fees | -$149.0K | $0 | -$100.0K |
| Proceeds from Stock Plans | $202.0K | $195.0K | $184.0K |
| Repurchase of common stock for payment of statutory taxes due on equity-based compensation | -$4.2M | -$1.2M | -$456.0K |
| Net cash provided (used) by financing activities | -$4.2M | -$1.0M | -$10.4M |
| Effect of exchange rate changes on cash | -$871.0K | $40.0K | -$451.0K |
| Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect, Continuing Operation | -$1.7M | $109.0M | $60.8M |
| Cash received during the period for income taxes | $312.0K | $328.0K | -$165.0K |
| Cash paid during the period for interest | $378.0K | $395.0K | $880.0K |
| Purchases of property, plant and equipment on account | $129.0K | $130.0K | $140.0K |
No quarter-by-quarter statement was filed.
Corporate structure
Matrix It Ltd. is part of a group headed by Formula Systems (1985) Ltd.. 5 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Matrix It Ltd.
- BlackRock Filed SCHEDULE 13G/A on Matrix It Ltd., latest Apr 7, 2026 (6 filings since Jan 10, 2022)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Matrix It Ltd., latest Mar 27, 2026 (4 filings since Feb 10, 2022)
- Harvey Partners, LLC Filed SCHEDULE 13G/A on Matrix It Ltd., latest Aug 14, 2025 (3 filings since Feb 14, 2023)
- Azarias Capital Management, L.P. Filed SCHEDULE 13G/A on Matrix It Ltd., latest Apr 9, 2025 (3 filings since Nov 1, 2024)
- FIRST WILSHIRE SECURITIES MANAGEMENT INC Filed SCHEDULE 13G/A on Matrix It Ltd., latest Feb 13, 2025 (3 filings since Feb 15, 2023)
- NEEDHAM INVESTMENT MANAGEMENT LLC Filed SCHEDULE 13G on Matrix It Ltd., latest Feb 13, 2025 (2 filings since Sep 13, 2024)
- DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on Matrix It Ltd., latest Feb 9, 2024 (3 filings since Feb 8, 2022)
- ROYCE & ASSOCIATES LP Filed SC 13G/A on Matrix It Ltd., latest Jan 30, 2024 (2 filings since Jan 24, 2023)
- The Bank of New York Mellon Filed SC 13G/A on Matrix It Ltd., latest Jul 11, 2022 (2 filings since Feb 2, 2022)
- Formula Systems (1985) Ltd. Or Yehuda, Israel
- Matrix It Ltd. Herzliya
- Matrix Project Services Ltd. an Subsidiary · Alberta, Canada
- Sapiens International Corporation N.v Subsidiary · Tel Aviv, Israel
- אופק צילומי אויר Subsidiary · Netanya, Israel
- Matrix It Ltd. Herzliya
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Matrix It Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Buildings and improvements | $15.5M4 Jun 30, 2026 | $15.5M4 Jun 30, 2025 | +0.3% |
| Machinery and equipment | $78.9M4 Jun 30, 2026 | $78.4M4 Jun 30, 2025 | +0.7% |
| Leasehold improvements | $17.7M4 Jun 30, 2026 | $17.5M4 Jun 30, 2025 | +1.1% |
| Construction in progress | $655.0K4 Jun 30, 2026 | $2.9M4 Jun 30, 2025 | −77.2% |
| Property and equipment, before depreciation | $180.6M4 Jun 30, 2026 | $188.4M4 Jun 30, 2025 | −4.2% |
| Accumulated depreciation | $144.3M4 Jun 30, 2026 | $146.3M4 Jun 30, 2025 | −1.4% |
| Property and equipment, net | $36.3M4 Jun 30, 2026 | $42.1M4 Jun 30, 2025 | −13.9% |
| Operating-lease assets (leased space) | $14.8M4 Jun 30, 2026 | $17.8M4 Jun 30, 2025 | −16.7% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $223.0M4 Jun 30, 2026 | $224.6M4 Jun 30, 2025 | −0.7% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $28.9M4 Jun 30, 2026 | $29.0M4 Jun 30, 2025 | −0.6% |
| Intangible assets, net (excluding goodwill) | $04 Jun 30, 2026 | $555.0K4 Jun 30, 2025 | −100.0% |
| Finite-lived intangibles, gross | $11.3M4 Jun 30, 2025 | $11.3M13 Jun 30, 2024 | 0% |
| Accumulated amortization | $10.7M4 Jun 30, 2025 | $9.6M13 Jun 30, 2024 | +11.4% |
| Finite-lived intangibles, net | $555.0K4 Jun 30, 2025 | $1.7M13 Jun 30, 2024 | −66.4% |
Inventory
Properties, in its own words
We believe all principal properties that we currently occupy are adequate and suitable for their intended use. Our principal properties are as follows:
Location · Description of Facility · Segment · Interest
The rest of Item 2
United States:
Tulsa, Oklahoma · Administrative and operations office · All segments · Leased
Bakersfield, California · Fabrication facility · All segments · Owned
Bellingham, Washington · Regional office, fabrication facility and warehouse · Process and Industrial Facilities, Storage and Terminal Solutions · Owned
Broomall, Pennsylvania · Regional office · All segments · Leased
Catoosa, Oklahoma · Fabrication facility, regional offices and warehouses · All segments · Leased & Owned (1)
Houston, Texas · Corporate headquarters, regional offices and warehouse · All segments · Leased & Owned
Norco, California · Regional office and warehouse · Process and Industrial Facilities, Storage and Terminal Solutions · Leased
Pittsburgh, Pennsylvania · Regional office · All segments · Leased
Temperance, Michigan · Regional office and warehouse · Storage and Terminal Solutions · Owned
Tucson, Arizona · Regional office and warehouse · Process and Industrial Facilities, Storage and Terminal Solutions · Leased
Norwich, Connecticut · Regional office · Utility and Power Infrastructure · Leased
Harleysville, Pennsylvania · Warehouse · All segments · Leased
International:
Leduc, Alberta, Canada · Regional office and warehouse · Storage and Terminal Solutions · Leased
Sarnia, Ontario, Canada · Regional office and warehouse · Storage and Terminal Solutions · Owned
Paju-si, Gyeonggi-do, South Korea · Fabrication facility, regional office and warehouse · Storage and Terminal Solutions · Owned
Sydney, New South Wales, Australia · Regional office · Storage and Terminal Solutions · Leased
(1)We constructed certain facilities on land acquired through ground leases with renewal options.
In addition to the locations listed above, we have smaller regional locations and temporary office facilities at numerous customer locations throughout the United States and Canada.
Item 2 of the 10-K filed Sep 3, 2026.8
Leadership
Who has led Matrix It Ltd., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerShawn P. Payne Aug 27, 2026 to now18
- PresidentDouglas J. Montalbano Sep 5, 2023 to now19
- PresidentShawn P. Payne Sep 7, 2022 to Sep 5, 202320
- PresidentGlyn A. Rodgers Sep 4, 2019 to Sep 3, 202421
- PresidentAlan R. Updyke Feb 15, 2018 to Aug 30, 201922
- PresidentBrad J. Rinehart Dec 14, 2016 to Aug 31, 202223
- PresidentJason W. Turner Dec 23, 2013 to Aug 31, 202024
- PresidentJoseph S. Harker Dec 23, 2013 to Dec 23, 201325
- PresidentMatthew J. Petrizzo Nov 14, 2008 to Mar 4, 201426
- PresidentJames A. Bogan Jr. Oct 25, 2006 to Oct 15, 200727
- Chief financial officerAndrew John Smith Sep 14, 2026 to now28
- Chief financial officerKevin S. Cavanah Dec 8, 2010 to Sep 14, 202629
- Chief financial officerJoseph F. Montalbano Aug 18, 2009 to Aug 18, 200930
- Chief financial officerGeorge Leslie Austin Jan 10, 2006 to Dec 4, 200731
- Chief operating officerAlan R. Updyke Aug 25, 2020 to Sep 3, 202432
- Chief operating officerJoseph F. Montalbano May 21, 2008 to Sep 5, 201933
Board members and other officers (32)
- Vice President, Legal & RiskJustin D. Sheets Aug 24, 2016 to now34
- VP & Chief Information OfficerRick J. Bennett Aug 26, 2015 to Sep 1, 202235
- Vice President, EngineeringKenneth L. Erdmann Jun 9, 2011 to Oct 25, 201136
- Vice President & TreasurerJason W. Turner May 10, 2010 to Dec 3, 201337
- VP - Fab, Engineer & ProcureLansing G. Smith Mar 26, 2008 to Apr 5, 201038
- VP GULF COAST BUS UNIT, MSIRobert A. Long Oct 20, 2008 to Aug 30, 201139
- VP BUS DEVELOPMENT MSIKevin A. Durkin Oct 21, 2008 to Sep 3, 202440
- VP WESTERN BUS UNIT MSIWilliam R. Sullivan Oct 21, 2008 to Oct 25, 201141
- VP - Accounting & Fin ReportKevin S. Cavanah Aug 21, 2007 to Oct 26, 201042
- Vice President - MSICIMatthew J. Petrizzo Nov 19, 2007 to Nov 19, 200743
- SVP Sales/MarketingJohn Newmeister Jan 4, 2006 to Dec 2, 200844
- Vice President/Human ResourcesNancy E. Downs Jan 11, 2006 to now45
- VP - MSICIVance Regan Davis Jan 26, 2006 to Oct 23, 200846
- VP Risk ManagementPhilip C. Chappelle Aug 31, 2006 to Oct 24, 200747
- Vice President - MSICIAlbert Fosbenner Oct 25, 2006 to Oct 25, 201148
- Vice President - MSIBrad J. Rinehart Oct 25, 2006 to Oct 25, 201149
- Board memberShawn P. Payne Aug 27, 2026 to now18
- Board memberJose Luis M. Bustamante May 18, 2022 to now50
- Board memberCarlin G. Conner Aug 21, 2020 to now51
- Board memberLiane K. Hinrichs Jun 11, 2018 to now52
- Board memberJohn D. Chandler Jun 21, 2017 to now53
- Board memberMartha Z. Carnes Jul 20, 2017 to now54
- Board memberJim W. Mogg Aug 29, 2013 to Dec 7, 202255
- Board memberI. Edgar Hendrix Jan 24, 2007 to Nov 15, 201656
- Board memberMichael J. Hall Jan 24, 2007 to Nov 15, 201657
- Board memberDavid James Tippeconnic Aug 31, 2007 to May 10, 201258
- Board memberPaul K. Lackey Jan 5, 2006 to Nov 13, 201559
- Board memberTom E. Maxwell Jan 5, 2006 to Sep 18, 201860
- Board memberHugh E. Bradley Aug 11, 2006 to Aug 11, 200661
- General counselJustin D. Sheets Aug 25, 2020 to Sep 3, 202462
- General counselWilliam C. Burdine Oct 16, 2012 to Nov 19, 201263
- General counselJudith S. Eliot Sep 15, 2009 to Oct 27, 200964
Subsidiaries and ownership
Parent company
Subsidiaries (Exhibit 21)
- Matrix Project Services Ltd. an Alberta, Canadian corporation6
From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 2, 20268-K Results of operations65
- Aug 27, 2026New chief executive Shawn P. Payne becomes CEO18
- Jul 2, 20268-K Executive or director change66
- May 6, 20268-K Results of operations67
- Apr 30, 20268-K Executive or director change68
- Feb 4, 20268-K Results of operations69
- Jan 6, 20268-K Executive or director change70
- Nov 5, 20258-K Results of operations71
- Nov 4, 20258-K Shareholder vote72
- Sep 9, 20258-K Results of operations73
- Aug 25, 20258-K Entered a material agreement74
- May 7, 20258-K Results of operations75
- May 2, 20258-K Executive or director change76
- 2001Founded Founded in Israel1
Calendar
Coming up
- Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.01) a share, on Nov 5, 2025.77
When it reported results
- Sep 2, 2026Reported quarterly or annual results65
- May 6, 2026Reported quarterly or annual results67
- Feb 4, 2026Reported quarterly or annual results69
- Nov 5, 2025Reported quarterly or annual results71
- Sep 9, 2025Reported quarterly or annual results73
- May 7, 2025Reported quarterly or annual results75
- Feb 5, 2025Reported quarterly or annual results78
- Nov 6, 2024Reported quarterly or annual results79
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
272 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 36 major events, 152 insider forms, 28 large holders, 36 other. The latest 20:
- Sep 23, 2026ARS EDGAR
- Sep 23, 2026DEFA14A EDGAR
- Sep 23, 2026DEF 14A EDGAR
- Sep 14, 20263 EDGAR
- Sep 4, 20264 EDGAR
- Sep 4, 20263 EDGAR
- Sep 3, 202610-K EDGAR
- Sep 2, 20268-K EDGAR
- Aug 31, 20264 EDGAR
- Aug 31, 20264 EDGAR
- Aug 31, 20264 EDGAR
- Aug 27, 20264 EDGAR
- Aug 27, 20264 EDGAR
- Jul 2, 20268-K EDGAR
- Jun 15, 20264 EDGAR
- Jun 15, 20264 EDGAR
- Jun 12, 2026144 EDGAR
- Jun 8, 20264 EDGAR
- Jun 4, 2026144 EDGAR
- May 26, 2026144 EDGAR
The 272 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
23 open-market trades by officers, directors and large owners since October 2021: 5 buys and 18 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 15, 2026 | Cavanah Kevin SVP Finance & CFO | Sale | 1,418 | $14.03 | $19.9K | Form 4 |
| Jun 12, 2026 | Cavanah Kevin SVP Finance & CFO | Sale | 2,073 | $14.00 | $29.0K | Form 4 |
| Jun 12, 2026 | SHEETS JUSTIN DSVP, Enterprise Services | Sale | 16,991 | $13.50 | $229.4K | Form 4 |
| Jun 5, 2026 | Cavanah Kevin SVP Finance & CFO | Sale | 6,509 | $14.13 | $92.0K | Form 4 |
| Jun 4, 2026 | Cavanah Kevin SVP Finance & CFO | Sale | 50,000 | $14.10 | $705.0K | Form 4 |
| May 26, 2026 | Cavanah Kevin SVP Finance & CFO | Sale | 60,000 | $12.90 | $774.0K | Form 4 |
| May 8, 2026 | HEWITT JOHN RPresident & CEO | Sale | 36,000 | $12.50 | $450.0K | Form 4 |
| Feb 18, 2026 | AUSTIN NANCY EVP, Chief Admin Officer | Sale | 4,193 | $11.29 | $47.3K | Form 4 |
| Nov 25, 2025 | PAYNE SHAWN PPresident & CEO | Sale | 5,231 | $11.42 | $59.7K | Form 4 |
| Nov 20, 2025 | PAYNE SHAWN PPresident & CEO | Sale | 3,019 | $11.42 | $34.5K | Form 4 |
| Nov 11, 2025 | PAYNE SHAWN PPresident & CEO | Sale | 8,250 | $12.58 | $103.8K | Form 4 |
| Sep 16, 2025 | CHANDLER JOHN DDirector | Buy | 2,300 | $12.74 | $29.3K | Form 4 |
| Sep 11, 2024 | MILLER JAMES HARRYDirector | Sale | 4,500 | $10.23 | $46.0K | Form 4 |
| Mar 22, 2024 | DURKIN KEVIN AVP Chief Bus Dev/Strat Officer | Sale | 3,900 | $13.14 | $51.2K | Form 4 |
| Mar 20, 2024 | HEWITT JOHN RPresident & CEO | Sale | 10,000 | $13.25 | $132.5K | Form 4 |
| Feb 9, 2024 | DURKIN KEVIN AVP Chief Bus Dev/Strat Officer | Sale | 3,900 | $12.72 | $49.6K | Form 4 |
| Dec 5, 2023 | SHEETS JUSTIN DSVP, Enterprise Services | Sale | 10,961 | $10.13 | $111.0K | Form 4 |
| Nov 10, 2023 | MILLER JAMES HARRYDirector | Sale | 3,000 | $11.50 | $34.5K | Form 4 |
| Sep 29, 2023 | HEWITT JOHN RPresident & CEO | Sale | 7,500 | $12.00 | $90.0K | Form 4 |
| Feb 14, 2022 | DURKIN KEVIN AVP Chief Bus Dev/Strat Officer | Buy | 7,800 | $6.36 | $49.6K | Form 4 |
All 23 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- BlackRockSCHEDULE 13G/A, 6 filings Jan 10, 2022 to Apr 7, 202680
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Mar 27, 202681
- Harvey Partners, LLCSCHEDULE 13G/A, 3 filings Feb 14, 2023 to Aug 14, 202582
- Azarias Capital Management, L.P.SCHEDULE 13G/A, 3 filings Nov 1, 2024 to Apr 9, 202583
- FIRST WILSHIRE SECURITIES MANAGEMENT INCSCHEDULE 13G/A, 3 filings Feb 15, 2023 to Feb 13, 202584
- NEEDHAM INVESTMENT MANAGEMENT LLCSCHEDULE 13G, 2 filings Sep 13, 2024 to Feb 13, 202585
- DIMENSIONAL FUND ADVISORS LPSC 13G/A, 3 filings Feb 8, 2022 to Feb 9, 202486
- ROYCE & ASSOCIATES LPSC 13G/A, 2 filings Jan 24, 2023 to Jan 30, 202487
- The Bank of New York MellonSC 13G/A, 2 filings Feb 2, 2022 to Jul 11, 202288
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2026 | John R. HewittChief Executive Officer | $800.0K | $6.7M89 | |
| 2026 | Shawn P. PayneChief Operating Officer | $50.0K | $2.5M89 | |
| 2026 | Nancy E. AustinFormer Chief Administrative Officer | $1.8M89 | ||
| 2026 | Kevin S. CavanahChief Financial Officer | $924.8K | $1.6M89 | |
| 2026 | Justin D. SheetsSenior Vice President, Enterprise Services | $521.5K | $1.0M89 | |
| 2025 | John R. HewittChief Executive Officer | $800.0K | $3.1M89 | |
| 2025 | Kevin S. CavanahChief Financial Officer | $493.3K | $1.2M89 | |
| 2025 | Shawn P. PayneChief Operating Officer | $459.9K | $963.0K89 | |
| 2025 | Nancy E. AustinFormer Chief Administrative Officer | $389.4K | $823.0K89 | |
| 2025 | Justin D. SheetsSenior Vice President, Enterprise Services | $389.4K | $820.3K89 | |
| 2024 | John R. HewittChief Executive Officer | $800.0K | $4.1M89 | |
| 2024 | Kevin S. CavanahChief Financial Officer | $475.0K | $1.5M89 | |
| 2024 | Shawn P. PayneChief Operating Officer | $433.4K | $1.1M89 | |
| 2024 | Nancy E. AustinFormer Chief Administrative Officer | $375.0K | $981.7K89 | |
| 2024 | Justin D. SheetsSenior Vice President, Enterprise Services | $375.0K | $978.8K89 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Matrix It Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARMATRIX SERVICE CO2
- CIK0000866273
- Employer ID (EIN)73-13521748
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company8
- Incorporated inDelaware8
- Fiscal year endsJune 302
- Industry code (SIC)1700 Construction - Special Trade Contractors2
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance2
- Business address15 East 5Th Street, Suite 1100, Tulsa, OK 741032
- Phone91883888222
- Shares outstanding28,291,921 shares as of Sep 2, 20268
- Public float$314.3M as of Jun 30, 20268
- AuditorDELOITTE & TOUCHE LLP, Houston, Texas PCAOB ID 34; it also attests to the company’s internal control over financial reporting8
- On EDGAR sinceFeb 13, 19952
- Filings1,739 in all: 4 (969), 8-K (229), SC 13G/A (128), 10-Q (92), SC 13G (58), 3 (47), DEF 14A (32), 10-K (31)2
All 36 form types
4/A (20), S-8 (14), DEFA14A (13), UPLOAD (11), 10-Q/A (10), 144 (10), ARS (8), SCHEDULE 13G/A (8), 8-K/A (7), CORRESP (7), 424B3 (5), S-3 (5), S-3/A (5), 10-K/A (4), EFFECT (3), NT 10-K (3), PRE 14A (3), 5 (2), REGDEX (2), SC 13D (2), SC 13D/A (2), SCHEDULE 13G (2), SD (2), 8-A12B (1), DEFR14A (1), NT 10-Q (1), POS AM (1), PREC14A (1)
- Latest filingsAnnual report (10-K) Sep 3, 2026
Quarterly report (10-Q) May 7, 2026
Proxy statement (DEF 14A) Sep 23, 2026
Latest 8-K (8-K) Sep 2, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | MTRX | NASDAQ Global Select Market |
From the cover page of the 10-K filed Sep 3, 2026 (Section 12(b) of the Exchange Act).8
Risk factors and legal proceedings
The risks Matrix It Ltd. names in Item 1A of its 10-K filed Sep 3, 2026: 32 risks under these headings, as written.8
- Our results of operations depend upon the award of new contracts, the timing of those awards, and the progress of work for those contracts.
- We operate in highly competitive markets, and our failure to compete successfully for new awards on acceptable terms could adversely affect our results.
- Delays or failures in obtaining required regulatory approvals, permits, interconnection agreements or right-of-way access could delay or prevent projects and adversely affect our results.
- Demand for our products and services is cyclical and is vulnerable to the level of capital and maintenance spending of our customers and to downturns in the industries and markets we serve, as well as conditions in the general economy.
- Our profitability could be negatively impacted if we are not able to maintain appropriate utilization of our workforce.
- An inability to attract and retain qualified personnel, and in particular, engineers, project estimators, project managers, and skilled craft workers, could impact our ability to perform on our contracts, which could harm our business and impair our future revenue and profitability.
- The loss of one or more of our significant customers could adversely affect us.
- Our backlog is subject to unexpected fluctuations, adjustments and cancellations and does not include the full value of our long-term maintenance contracts, and therefore, may not be a reliable indicator of our future earnings.
- The terms of our contracts could expose us to unforeseen costs and costs not within our control, which may not be recoverable and could adversely affect our results of operations and financial condition.
- We may incur significant costs in providing services in excess of original project scope without having an approved change order.
- Our business may be affected by difficult work sites and environments, which may adversely affect our overall business.
- We are susceptible to severe weather conditions, including those caused by climate change or otherwise, which may harm our business and financial results.
The other 20 risks
- Our business has been affected by inflation, supply chain disruptions, shortages of materials, labor or equipment, and performance issues involving suppliers and subcontractors.
- Changes in global trade policy and the impact on tariffs may have a material adverse effect on business operations and financial performance.
- Unsatisfactory safety performance may subject us to fines, impact our ability to win work, affect customer relationships, result in higher operating costs, negatively impact employee morale and result in higher employee turnover.
- We are exposed to credit risk from customers. If we experience delays and/or defaults in customer payments, we could suffer liquidity problems or we could be unable to recover amounts owed to us.
- Our collective bargaining agreements and multiemployer plan obligations could result in higher costs, work stoppages, or liabilities.
- A failure or outage in our operational systems, including cybersecurity incidents and disruptions involving third-party software or AI tools , may adversely affect our business and financial results.
- Our business may be negatively impacted if we are unable to adequately protect our intellectual property rights.
- Financial Risks
- Our borrowing capacity under our ABL Facility is determined by the size of our borrowing base and if the size of our borrowing base combined with our unrestricted cash does not provide adequate liquidity, then we may need to raise additional capital in the future for working capital, letters of credit, capital expenditures and/or acquisitions, and we may not be able to do so on favorable terms or at all, which would impair our ability to operate our business or achieve our strategic plan.
- Our ABL Facility imposes restrictions that may limit business alternatives.
- We may be unable to compete for projects if we are not able to obtain surety bonds or letters of credit.
- Accounting Risks
- Our use of percentage-of-completion accounting for fixed-price contracts could result in a reduction or elimination of previously reported profits.
- Actual results could differ from the estimates and assumptions that we use to prepare our financial statements.
- Earnings for future periods may be affected by impairment charges.
- Legal, Insurance, Regulatory and Compliance Risks
- We are involved, and are likely to continue to be involved in legal proceedings, which will increase our costs and, if adversely determined, could have a material effect on our financial condition, results of operations, cash flows and liquidity.
- Our projects expose us to potential professional liability, product liability, pollution liability, warranty and other claims, which could be expensive, damage our reputation and harm our business. We may not be able to obtain or maintain adequate insurance to cover these claims.
- Employee, subcontractor or partner misconduct or our overall failure to comply with laws or regulations could harm our reputation, damage our relationships with customers, reduce our revenue and profits, and subject us to criminal and civil enforcement actions.
- Regulatory uncertainty regarding climate-related matters and evolving sustainability expectations could affect our business.
- Environmental factors and changes in laws and regulations could increase our costs and liabilities.
- We could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar worldwide anti-bribery laws.
- Economic, political and other risks associated with international operations could adversely affect our business.
Legal proceedings
We are a party to several legal proceedings. See Part II., Item 8. Financial Statements and Supplementary Data, Note 7 - Commitments and Contingencies, for a description of our material ongoing litigation.
The opening of Item 3, Legal Proceedings.8
Links
- Websitewww.matrix.co.il1
- Websitewww.matrix.co.il1
- WikidataQ6963295
- SEC EDGARCIK 866273
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataMatrix It Ltd. on Wikidata
- 2SEC EDGARMatrix It Ltd. filings on SEC EDGAR
- 3Company websiteMatrix It Ltd. logo
- 4SEC EDGARMatrix It Ltd. 10-K for fiscal 2026
- 5SEC EDGARMatrix It Ltd. filings on SEC EDGAR
- 6
- 7Wikimedia CommonsMatrix It Ltd. photo by User:Ranbar, CC BY-SA 3.0
- 8
- 9SEC EDGARMatrix It Ltd. 10-K for fiscal 2019
- 10SEC EDGARMatrix It Ltd. 10-K for fiscal 2020
- 11SEC EDGARMatrix It Ltd. 10-K for fiscal 2021
- 12SEC EDGARMatrix It Ltd. 10-K for fiscal 2022
- 13SEC EDGARMatrix It Ltd. 10-K for fiscal 2023
- 14SEC EDGARMatrix It Ltd. 10-Q for fiscal 2025
- 15SEC EDGARMatrix It Ltd. 10-Q for fiscal 2025
- 16SEC EDGARMatrix It Ltd. 10-Q for fiscal 2026
- 17SEC EDGARMatrix It Ltd. 10-K for fiscal 2019
- 18
- 19SEC EDGARDouglas J. Montalbano, President
- 20SEC EDGARShawn P. Payne, President
- 21SEC EDGARGlyn A. Rodgers, President
- 22SEC EDGARAlan R. Updyke, President
- 23SEC EDGARBrad J. Rinehart, President
- 24SEC EDGARJason W. Turner, President
- 25SEC EDGARJoseph S. Harker, President
- 26SEC EDGARMatthew J. Petrizzo, President
- 27SEC EDGARJames A. Bogan Jr., President
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- 44SEC EDGARJohn Newmeister, SVP Sales/Marketing
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- 46SEC EDGARVance Regan Davis, VP - MSICI
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- 51SEC EDGARCarlin G. Conner, Board member
- 52SEC EDGARLiane K. Hinrichs, Board member
- 53SEC EDGARJohn D. Chandler, Board member
- 54SEC EDGARMartha Z. Carnes, Board member
- 55SEC EDGARJim W. Mogg, Board member
- 56SEC EDGARI. Edgar Hendrix, Board member
- 57SEC EDGARMichael J. Hall, Board member
- 58
- 59SEC EDGARPaul K. Lackey, Board member
- 60SEC EDGARTom E. Maxwell, Board member
- 61SEC EDGARHugh E. Bradley, Board member
- 62SEC EDGARJustin D. Sheets, General counsel
- 63SEC EDGARWilliam C. Burdine, General counsel
- 64SEC EDGARJudith S. Eliot, General counsel
- 65SEC EDGARResults of operations
- 66SEC EDGARExecutive or director change
- 67SEC EDGARResults of operations
- 68SEC EDGARExecutive or director change
- 69SEC EDGARResults of operations
- 70SEC EDGARExecutive or director change
- 71SEC EDGARResults of operations
- 72SEC EDGARShareholder vote
- 73SEC EDGARResults of operations
- 74SEC EDGAREntered a material agreement
- 75SEC EDGARResults of operations
- 76SEC EDGARExecutive or director change
- 77NasdaqNasdaq calendar
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