Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 0

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 0
---
Item 1. Financial Statements

1

Table of Contents

BOWMAN CONSULTING GROUP LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands except per share data)September 30,2025December 31,2024(Unaudited) ASSETSCurrent AssetsCash and cash equivalents$16,221 $6,698 Accounts receivable, net123,469 105,105 Contract assets56,652 43,369 Notes receivable, current portion903 – Notes receivable - officers, employees, affiliates, current portion19 1,889 Prepaid and other current assets19,592 19,560 Total current assets216,856 176,621 Non-Current Assets  Property and equipment, net46,181 42,011 Operating lease, right-of-use assets43,468 42,085 Goodwill137,350 134,653 Notes receivable, less current portion– 903 Notes receivable - officers, employees, affiliates, less current portion1,108 638 Other intangible assets, net60,670 65,409 Deferred tax asset, net3,111 42,040 Other assets1,432 1,521 Total Assets$510,176 $505,881 LIABILITIES AND SHAREHOLDERS' EQUITY  Current Liabilities  Revolving credit facility$57,000 $37,000 Accounts payable and accrued liabilities, current portion55,972 51,626 Contract liabilities14,850 7,905 Notes payable, current portion14,218 17,075 Operating lease obligation, current portion11,441 10,979 Finance lease obligation, current portion13,518 10,394 Total current liabilities166,999 134,979 Non-Current Liabilities  Other non-current obligations1,636 45,079 Notes payable, less current portion15,205 19,992 Operating lease obligation, less current portion38,614 37,058 Finance lease obligation, less current portion21,222 17,940 Pension and post-retirement obligation, less current portion4,695 4,718 Total liabilities$248,371 $259,766 Shareholders' EquityPreferred Stock, $0.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as