Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 30

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 the three and six months ended June 30, 2024 was $2.3 million and $4.3 million, respectively.

21

9. Goodwill 

Changes in the carrying amount of goodwill were as follows (in thousands):GoodwillBalance as of December 31, 2024$134,653 2025 Acquisitions - additions1,296 2024 Acquisitions - adjustments(20)Balance as of June 30, 2025$135,929 There were no impairments of goodwill during the periods presented.

10. Intangible Assets

Total intangible assets consisted of the following at June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025December 31, 2024Gross AmountAccumulatedAmortization Net BalanceGross AmountAccumulatedAmortization Net BalanceCustomer relationships$64,662 $(14,246)$50,416 $64,164 $(11,172)$52,992 Contract rights20,680 (18,409)2,271 20,051 (16,393)3,658 Leasehold619 (225)394 619 (182)437 Domain name281 – 281 281 – 281 Licensing rights8,041 – 8,041 8,041 – 8,041 Total$94,283 $(32,880)$61,403 $93,156 $(27,747)$65,409 The following table summarizes the weighted average useful lives (in years) of intangible assets by asset class used for straight-line amortization expense purposes:June 30, 2025December 31, 2024Customer relationships11.3111.35Contract rights1.721.75Leasehold7.487.48Amortization expense for the three and six months ended June 30, 2025 was $2.5 million and $5.1 million, respectively. Amortization expense for the three and six months ended June 30, 2024 was $3.8 million and $7.2 million respectively.    Future amortization for the remainder of 2025 and for the succeeding years for intangible assets with definite useful lives is as follows (in thousands):20254,512 20267,017 20276,147 20285,618 20295