Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 166

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 166
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8 million or 15.3% to $361.1 million as compared to $313.3 million for the nine months ended September 30, 2024. For the nine months ended September 30, 2025, gross contract revenue attributable to work performed by our workforce increased $39.1 million, or 13.9% to $320.1 million or 88.6% of gross contract revenue as compared to $281.0 million or 89.7% for the nine months ended September 30, 2024 (see Net service billing – non-GAAP). Of the $47.8 million increase in gross contract revenue during the nine months ended September 30, 2025, acquisitions represented $10.1 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.

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Changes in gross contract revenue disaggregated between our core end markets were as follows (in thousands other than percentages):

For the Nine Months Ended September 30,Consolidated Gross Contract Revenue2025%GCR2024%GCRChange% ChangeBuilding Infrastructure1$165,430 45.8 %$155,245 49.5 %$10,185 6.6 %Transportation74,611 20.7 %60,145 19.2 %14,466 24.1 %Power & Utilities179,736 22.1 %66,693 21.3 %13,043 19.6 %Natural Resources & Imaging241,277 11.4 %31,258 10.0 %10,019 32.1 %Total:$361,054 100.0 %$313,341 100.0 %$47,713 15.2 %

Acquired310,107 2.8 %49,767 15.9 %(39,660)(79.7)%

1Includes periodic reclassifications of revenue between categories from prior periods for consistency of presentation. For the nine months ended September 30, 2024, $10.5 million of data center revenue was reclassified from Building Infrastructure to Power & Utilities.

2Formerly Emerging Markets which represents environmental, mining