Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 37

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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872 $6,557 21,949 17,881 Nine Months Ended(Amounts in thousands)September 30, 2025September 30, 2024Cash paid for amounts included in the measurements of lease liabilitiesOperating cash flows from operating leases$10,747 $9,642 Operating cash flows from finance leases1,431 1,244 Financing cash flows from finance leases9,155 6,462 Right-of-use assets obtained in exchange for new operating leases10,144 7,870 Right-of-use assets obtained in exchange for new finance leases15,660 14,159 

29

As ofAs ofSeptember 30, 2025December 31, 2024Weighted average remaining lease term (in years):Operating leases4.564.71Finance leases2.642.48Weighted average discount rates:Operating leases6.8 %6.7 %Finance leases6.6 %6.7 %Future minimum commitments under leases for the remainder of 2025 and succeeding years are as follows (in thousands): (Amounts in thousands)Operating LeaseFinance Lease2025$3,678 $3,847 202614,099 12,007 202712,413 7,791 202811,246 5,069 20298,427 1,883 Thereafter8,601 9 Total lease payments$58,464 $30,606 Less: Amounts representing interest$(8,417)$(3,511)Total lease liabilities$50,047 $27,095 The above table is exclusive of $0.1 million sub-lease income associated with the $50.1 million total liability of operating leases as presented on the condensed consolidated balance sheet.The above table is exclusive of the $7.6 million purchase price associated with the $34.7 million total liability of finance leases as presented on the condensed consolidated balance sheet.

16. Segment

The Company operates as a single business segment represented by our core business of providing multi-disciplinary professional engineering solutions to customers. The Company primarily derives its revenue from its core business of providing engineering and related professional services to customers. While we evaluate revenue and other key performance indicators relating to various divisions of labor, our leadership neither manages the business nor deliberately allocates resources by service line, geography, or end market. The Company derives the majority of its revenue from domestic customers, and has