Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 51

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 merit increases. General overhead increased $2.1 million or 12.0% to $19.6 million as compared to $17.5 million due to increased costs associated with the overall growth of the Company.

Depreciation and amortization decreased $0.5 million or (6.8)% to $6.9 million for the three months ended September 30, 2025 as compared to $7.4 million for the three months ended September 30, 2024. This decrease is primarily due to a decrease in amortization of intangibles. The net gain on the sale of certain IT equipment and automobiles increased $0.3 million to $0.4 million of gain for the three months ended September 30, 2025, as compared to $0.1 million in the three months ended September 30, 2024. 

Other (Income) Expense

Other expense increased by $0.4 million to $2.0 million of expense for the three months ended September 30, 2025 as compared to $1.6 million for the three months ended September 30, 2024.

Income Tax Benefit

Income tax benefit for the three months ended September 30, 2025, increased by $1.4 million to $3.3 million, compared to $1.9 million benefit for the three months ended September 30, 2024, see Note 2, Income Taxes. Our effective tax rate for the three months ended September 30, 2025, was (102.1)% compared to 167.7% for the three months ended September 30, 2024.

Income (Loss) Before Tax and Net Income (Loss)

Income (loss) before tax increased by $4.4 million for the three months ended September 30, 2025, to $3.3 million of income compared to ($1.1) million of loss for the three months ended September 30, 2024. Net income increased by $5.8 million to $6.6 million of net income for the three months ended September 30, 2025, as compared to $0.8 million of net income for the three months ended September 30, 2024. 

Other financial information and Non-GAAP key performance indicators 

Net service billing (non-GAAP)

Net service billing increased $10.7 million or 10.6% to $112.1 million for the three months ended September