diff --git a/src/halmos/__main__.py b/src/halmos/__main__.py
index 357d0f30..cc667a53 100644
--- a/src/halmos/__main__.py
+++ b/src/halmos/__main__.py
@@ -1020,6 +1020,14 @@ def import_libs(build_out_map: Dict, hexcode: str, linkReferences: Dict) -> Dict
     return libs
 
 
+def build_output_iterator(build_out: Dict):
+    for compiler_version in sorted(build_out):
+        build_out_map = build_out[compiler_version]
+        for filename in sorted(build_out_map):
+            for contract_name in sorted(build_out_map[filename]):
+                yield (build_out_map, filename, contract_name)
+
+
 @dataclass(frozen=True)
 class MainResult:
     exitcode: int
@@ -1075,6 +1083,7 @@ def _main(_args=None) -> MainResult:
         print(color_warn(f"Build failed: {build_cmd}"))
         return MainResult(1)
 
+    timer.create_subtimer("load")
     try:
         build_out = parse_build_out(args)
     except Exception as err:
@@ -1092,83 +1101,66 @@ def _main(_args=None) -> MainResult:
     total_passed = 0
     total_failed = 0
     total_found = 0
-
     test_results_map = {}
 
-    for compiler_version in sorted(build_out):
-        build_out_map = build_out[compiler_version]
-        for filename in sorted(build_out_map):
-            for contract_name in sorted(build_out_map[filename]):
-                if args.contract and args.contract != contract_name:
-                    continue
+    for build_out_map, filename, contract_name in build_output_iterator(build_out):
+        if args.contract and args.contract != contract_name:
+            continue
 
-                (contract_json, contract_type, natspec) = build_out_map[filename][
-                    contract_name
-                ]
-                if contract_type != "contract":
-                    continue
+        (contract_json, contract_type, natspec) = build_out_map[filename][contract_name]
+        if contract_type != "contract":
+            continue
 
-                creation_hexcode = contract_json["bytecode"]["object"]
-                deployed_hexcode = contract_json["deployedBytecode"]["object"]
+        methodIdentifiers = contract_json["methodIdentifiers"]
+        funsigs = [f for f in methodIdentifiers if f.startswith(args.function)]
+        num_found = len(funsigs)
 
-                abi = contract_json["abi"]
-                methodIdentifiers = contract_json["methodIdentifiers"]
-                linkReferences = contract_json["bytecode"]["linkReferences"]
+        if num_found == 0:
+            continue
 
-                libs = (
-                    import_libs(build_out_map, creation_hexcode, linkReferences)
-                    if linkReferences
-                    else {}
-                )
+        contract_timer = NamedTimer("time")
 
-                funsigs = [
-                    funsig
-                    for funsig in methodIdentifiers
-                    if funsig.startswith(args.function)
-                ]
+        abi = contract_json["abi"]
+        creation_hexcode = contract_json["bytecode"]["object"]
+        deployed_hexcode = contract_json["deployedBytecode"]["object"]
+        linkReferences = contract_json["bytecode"]["linkReferences"]
+        libs = import_libs(build_out_map, creation_hexcode, linkReferences)
 
-                if funsigs:
-                    total_found += len(funsigs)
-                    contract_path = (
-                        f"{contract_json['ast']['absolutePath']}:{contract_name}"
-                    )
-                    print(f"\nRunning {len(funsigs)} tests for {contract_path}")
-                    contract_timer = NamedTimer("time")
+        contract_path = f"{contract_json['ast']['absolutePath']}:{contract_name}"
+        print(f"\nRunning {num_found} tests for {contract_path}")
+        contract_args = extend_args(args, parse_natspec(natspec)) if natspec else args
 
-                    contract_args = (
-                        extend_args(args, parse_natspec(natspec)) if natspec else args
-                    )
+        run_args = RunArgs(
+            funsigs,
+            creation_hexcode,
+            deployed_hexcode,
+            abi,
+            methodIdentifiers,
+            contract_args,
+            contract_json,
+            libs,
+        )
 
-                    run_args = RunArgs(
-                        funsigs,
-                        creation_hexcode,
-                        deployed_hexcode,
-                        abi,
-                        methodIdentifiers,
-                        contract_args,
-                        contract_json,
-                        libs,
-                    )
+        enable_parallel = args.test_parallel and num_found > 1
+        run_method = run_parallel if enable_parallel else run_sequential
+        test_results = run_method(run_args)
 
-                    enable_parallel = args.test_parallel and len(funsigs) > 1
-                    test_results = (
-                        run_parallel(run_args)
-                        if enable_parallel
-                        else run_sequential(run_args)
-                    )
+        num_passed = sum(r.exitcode == 0 for r in test_results)
+        num_failed = num_found - num_passed
 
-                    num_passed = sum(r.exitcode == 0 for r in test_results)
-                    num_failed = len(funsigs) - num_passed
+        print(
+            f"Symbolic test result: {num_passed} passed; "
+            f"{num_failed} failed; {contract_timer.report()}"
+        )
 
-                    print(
-                        f"Symbolic test result: {num_passed} passed; {num_failed} failed; {contract_timer.report()}"
-                    )
-                    total_passed += num_passed
-                    total_failed += num_failed
+        total_found += num_found
+        total_passed += num_passed
+        total_failed += num_failed
+
+        if contract_path in test_results_map:
+            raise ValueError("already exists", contract_path)
 
-                    if contract_path in test_results_map:
-                        raise ValueError("already exists", contract_path)
-                    test_results_map[contract_path] = test_results
+        test_results_map[contract_path] = test_results
 
     if args.statistics:
         print(f"\n[time] {timer.report()}")
diff --git a/src/halmos/utils.py b/src/halmos/utils.py
index 78e5e152..7609f4af 100644
--- a/src/halmos/utils.py
+++ b/src/halmos/utils.py
@@ -688,4 +688,7 @@ def __str__(self):
         return self.report()
 
     def __repr__(self):
-        return f"NamedTimer(name={self.name}, start_time={self.start_time}, end_time={self.end_time}, sub_timers={self.sub_timers})"
+        return (
+            f"NamedTimer(name={self.name}, start_time={self.start_time}, "
+            f"end_time={self.end_time}, sub_timers={self.sub_timers})"
+        )