Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 126

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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113,932 $361,054 $313,341 Contract costs (exclusive of depreciation and amortization)59,109 54,282 170,465 150,779 Operating expense61,632 59,217 175,117 165,974 Income (loss) from operations5,292 433 15,472 (3,412)Other expense2,018 1,572 5,764 6,000 Income tax benefit(3,344)(1,910)(1,175)(6,543)Net income (loss)$6,618 $771 $10,883 $(2,869)Net margin5.3 %0.7 %3.0 %(0.9)%Other financial information 1Net service billing$112,087 $101,363 $320,137 $281,033 Adjusted EBITDA18,288 16,970 52,995 42,511 Adjusted EBITDA margin, net16.3 %16.7 %16.6 %15.1 %

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1Represents non-GAAP financial measures. See Other Financial Information and Non-GAAP key performance indicators below. 

Three months ended September 30, 2025 as compared to the three months ended September 30, 2024

Gross Contract Revenue

Gross contract revenue for the three months ended September 30, 2025, increased $12.1 million or 10.6% to $126.0 million as compared to $113.9 million for the three months ended September 30, 2024. For the three months ended September 30, 2025, gross contract revenue attributable to work performed by our workforce increased $10.7 million, or 10.6% to $112.1 million or 89.0% of gross contract revenue as compared to $101.4 million or 89.0% for the three months ended September 30, 2024 (see Net service billing – non-GAAP). Of the $12.1 million increase in gross contract revenue during the three months ended September 30, 2025, acquisitions represented $4.4 million of the increase. To evaluate the Company’s growth, revenue from acquisitions is treated as acquired for a period of four quarters post-closing, after which it is considered organic. For each measurement and comparison period,