Company: BWMN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023232
Chunk: 103

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 derives the majority of its revenue from domestic customers, and has no significant long-lived assets located outside the United States. No single customer accounted for 10% or more of the Company’s total revenue during the period.The Chief Operating Decision Maker (“CODM”) assesses performance for the Company and decides how to allocate resources based on significant expense categories that contribute to net income (loss), as outlined below. The CODM uses these varying results to prioritize the reinvestment of profits within the Company. These results are also used in assessing the Company’s performance and determining management’s compensation. The CODM does not review assets in evaluating the results of the Company, and therefore, such information is not presented.The following tables provides the operating financial results of the Company as of March 31, 2025 and 2024:

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(in thousands)March 31, 2025March 31, 2024Gross contract revenue$112,931 $94,907 Less:Labor and fringe65,011 57,002 Other segment items112,879 9,216 General & administrative expenses18,442 15,511 Incentives8,946 9,854 Depreciation and amortization6,521 5,995 Interest expense2,113 2,131 Other (income) expense, net(6)209 Income tax (benefit) expense769 (3,453)Net loss$(1,744)$(1,558)1Other segment items included in net loss consists primarily of sub-consultants and other direct expenses.

17. Subsequent Events

None.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis should be read in conjunction with our condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q. This discussion contains “forward-looking statements” reflecting our current expectations, estimates and assumptions concerning events and financial trends that may affect our future operating results or financial position. Actual results and the timing of events may differ materially from those contained in these forward-looking statements due to several factors. Factors that could cause or contribute to such differences include, but are not limited to, economic and competitive conditions, regulatory changes, and other uncertainties, as well as those factors discussed in the Risk Factors section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “Annual Report on Form 10-K”) filed with