Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 28

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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,041 – 8,041 8,041 – 8,041 Total$95,903 $(35,233)$60,670 $93,156 $(27,747)$65,409 The following table summarizes the weighted average useful lives (in years) of intangible assets by asset class used for straight-line amortization expense purposes:September 30, 2025December 31, 2024Customer relationships11.4411.35Contract rights1.721.75Leasehold7.487.48Amortization expense for the three and nine months ended September 30, 2025 was $2.4 million and $7.5 million, respectively. Amortization expense for the three and nine months ended September 30, 2024 was $3.7 million and $10.8 million respectively.    Future amortization for the remainder of 2025 and for the succeeding years for intangible assets with definite useful lives is as follows (in thousands):20252,255 20267,109 20276,239 20285,710 20295,614 Thereafter25,421 Total$52,348 

11. Revolving Credit Facility 

22

On March 12, 2025, the Company and certain of its subsidiaries acting as guarantors, entered into a First Amendment to the Credit Agreement (defined below) which increased the maximum principal amount of the Revolving Credit Facility from $100.0 million to $140.0 million. There were no other changes to the terms of the Revolving Credit Facility. The Credit Agreement was further amended on October 30, 2025. See Note 17 "Subsequent Events."On May 2, 2024, the Company and certain of its subsidiaries as guarantors entered into a new credit agreement (as amended, the “Credit Agreement”) with lenders, Bank of America N.A., as Administrative Agent, the Swingline Lender and L/C Issuer, and TD Bank, N.A. as syndication agent for a new $100 million revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility replaced the Company’s previous $70 million revolving credit facility, and its non-revolving fixed line of credit ("Fixed Line #2") with Bank of America, N.A. In connection with the Revolving Credit Facility, the Company and certain of its subsidiaries entered into a Security