Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 29

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 29
---
:2,454 3,430 Less: current portion  Officers, employees and affiliates(443)(1,889) Unrelated third party(903)– Non-current portion$1,108 $1,541 1Note issued prior to the Company's initial public offering.

Each borrower may prepay all or part of the outstanding balance at any time prior to the date of maturity. No interest was accrued on the notes receivable for the six months ended June 30, 2025. 

20

8. Property and Equipment, Net 

Property and equipment for fixed assets are as follows (in thousands):June 30, 2025December 31, 2024Computer equipment$2,931 $2,867 Survey equipment5,943 5,944 Vehicles2,479 2,425 Furniture and fixtures2,740 2,581 Leasehold improvements9,589 9,469 Software414 396 Camera equipment861 891 Aircraft8,345 7,829 Aircraft engine & GPS1,512 1,517 Fixed assets pending lease financing 1783 715 Total:35,597 34,634 Less: accumulated depreciation(20,386)(18,604)Property and equipment, net of finance leased assets$15,211 $16,030 1Assets acquired which will be re-financed under the Company's finance lease facilitiesDepreciation expense for fixed assets for the three and six months ended June 30, 2025 was $0.9 million and $1.9 million, respectively. Depreciation expense for fixed assets for the three and six months ended June 30, 2024 was $1.1 million and $1.8 million, respectively. Property and equipment for finance leased assets are as follows (in thousands):June 30, 2025December 31, 2024Equipment$41,326 $33,654 Vehicles12,442 10,287 Total:53,768 43,941 Less: accumulated amortization on leased assets(23,816)(17,960)Finance leased assets, net$29,952 $25,981 Amortization expense for finance leased assets for the three and six months ended June 30, 2025 was $3.1 million and $6.1 million, respectively. Amortization expense for finance leased assets for