Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 6

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 202521,832,454$218 $347,649 (4,478,252)$(74,608)$1,049 $— $(12,503)$261,805     

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

6

BOWMAN CONSULTING GROUP LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands)

(Unaudited)

For the Nine Months Ended September 30,20252024Cash Flows from Operating Activities:Net income (loss)$10,883 $(2,869)Adjustments to reconcile net income (loss) to net cash provided by operating activitiesDepreciation and amortization - property, plant and equipment12,466 9,722 Amortization of intangible assets7,486 10,850 Gain on sale of assets(387)(393)Credit losses1,233 1,043 Stock based compensation14,185 20,272 Deferred taxes38,929 (18,351)Accretion of discounts on notes payable990 486 Other(35)– Changes in operating assets and liabilities, net of acquisition of businessesAccounts receivable(18,938)(10,830)Contract assets(12,757)(5,229)Prepaid expenses and other assets1,318 2,909 Accounts payable and accrued expenses(35,438)6,438 Contract liabilities6,536 (1,666)Net cash provided by operating activities26,471 12,382 Cash Flows from Investing Activities:Purchases of property and equipment(1,176)(819)Fixed assets converted to lease financing– 17 Proceeds from sale of assets and disposal of leases530 399 Payments received under loans to shareholders– 61 Proceeds from notes receivable1,152 – Acquisitions of businesses, net of cash acquired(1,961)(23,327)Collections under stock subscription notes receivable28 33 Net cash used in investing activities(1,427)(23,636)Cash Flows from Financing Activities:Proceeds from common stock offering, net of underwriting discounts and commissions and other offering costs– 47,151 Borrowings (repayments) under revolving credit facility20,000 (12,958)Repayments under fixed line of credit– (345)Proceeds from notes payable– 6,