Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 48

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 expense56,528 56,120 113,480 106,740 Income (loss) from operations9,044 (1,235)10,180 (3,845)Other expense1,636 2,027 3,746 4,428 Income tax expense (benefit)1,399 (1,180)2,169 (4,633)Net income (loss)$6,009 $(2,082)$4,265 $(3,640)Net margin4.9 %(2.0)%1.8 %(1.8)%Other financial information 1Net service billing$107,997 $93,981 $208,050 $179,671 Adjusted EBITDA20,203 13,412 34,708 25,541 Adjusted EBITDA margin, net18.7 %14.3 %16.7 %14.2 %

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

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

Gross Contract Revenue

Gross contract revenue for the three months ended June 30, 2025, increased $17.6 million or 16.8% to $122.1 million as compared to $104.5 million for the three months ended June 30, 2024. For the three months ended June 30, 2025, gross contract revenue attributable to work performed by our workforce increased $14.0 million, or 14.9% to $108.0 million or 88.5% of gross contract revenue as compared to $94.0 million or 90.0% for the three months ended June 30, 2024 (see Net service billing – non-GAAP). Of the $17.6 million increase in gross contract revenue during the three months ended June 30, 2025, acquisitions represented $6.5 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, historical balances of acquired and organic revenue bases are adjusted to reflect revenue accordingly.

Changes in gross contract revenue disaggregated between our core markets were as follows (in thousands other