Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 142

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 142
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 we keep in short-term investment accounts along with deposits and payments in transit in our operating sweep account. Our cash on hand increased by $8.8 million on June 30, 2025 as compared to December 31, 2024.

We regularly monitor our capital requirements and believe our sources of liquidity, including cash flow from operations, existing cash, and borrowing availability under our credit and lease facilities will be sufficient to fund our projected cash requirements and strategic initiatives for the next year. To the extent we experience any potential liquidity or capital shortfalls relating to growth and acquisition, we currently expect to rely on debt financing to meet those shortfalls. We use our equity as a component of consideration in acquisitions. In addition, depending on market conditions, we may opportunistically access the public debts and equity markets.

We are actively pursuing acquisitions as part of our strategic growth initiative. At any given time, we are assessing multiple opportunities at varying stages of due diligence. These acquisition opportunities range in size, timing of closing, valuation, and composition of consideration. In connection with acquisitions, we use a combination of cash, bank financing, seller financing, and equity to satisfy the purchase price. Currently, we have several acquisitions under consideration. There can be no assurance that any opportunity in the process of being reviewed will close but we expect over time to utilize a meaningful portion of our current liquidity and capital resources for acquisitions.

Cash Flows

The following table summarizes our cash flows for the periods presented: 

For the Six Months Ended    June 30, Condensed Consolidated Statements of Cash Flows (amounts in thousands)20252024Net cash provided by operating activities$16,293 $5,588 Net cash used in investing activities(1,837)(20,582)Net cash (used in) provided by financing activities(5,614)17,450 Change in cash, cash equivalents and restricted cash8,842 2,456 Cash and cash equivalents, end of period15,540 23,143 

Operating Activities

During the six months ended June 30, 2025, net cash provided by operating activities was $16.3 million, which primarily consisted of $4.3 million net income, adjusted for stock-based compensation expense of $9.7 million and depreciation and amortization expense of $13.1 million, offset by deferred taxes of $12.2 million and a net cash inflow of $0.2 million from changes in operating assets and liabilities. The net outflow from