Company: BWMN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023232
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Company: Bowman Consulting Group Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements

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Table of Contents

BOWMAN CONSULTING GROUP LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands except per share data)March 31,2025December 31,2024(Unaudited) ASSETSCurrent AssetsCash and equivalents$10,700 $6,698 Accounts receivable, net107,354 105,105 Contract assets50,099 43,369 Notes receivable - officers, employees, affiliates, current portion1,345 1,889 Prepaid and other current assets19,452 19,560 Total current assets188,950 176,621 Non-Current Assets  Property and equipment, net41,250 42,011 Operating lease, right-of-use assets43,119 42,085 Goodwill135,896 134,653 Notes receivable903 903 Notes receivable - officers, employees, affiliates, less current portion204 638 Other intangible assets, net63,892 65,409 Deferred tax asset, net53,018 42,040 Other assets1,517 1,521 Total Assets$528,749 $505,881 LIABILITIES AND SHAREHOLDERS' EQUITY  Current Liabilities  Revolving credit facility$45,000 $37,000 Accounts payable and accrued liabilities, current portion55,020 51,626 Contract liabilities11,831 7,905 Notes payable, current portion16,533 17,075 Operating lease obligation, current portion11,121 10,979 Finance lease obligation, current portion11,088 10,394 Total current liabilities150,593 134,979 Non-Current Liabilities  Other non-current obligations55,829 45,079 Notes payable, less current portion19,035 19,992 Operating lease obligation, less current portion37,961 37,058 Finance lease obligation, less current portion16,506 17,940 Pension and post-retirement obligation, less current portion4,710 4,718 Total liabilities$284,634 $259,766 Shareholders' EquityPreferred Stock, $0.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as of March 31, 2025 and December 31, 202