Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 105

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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 to be able to accurately determine the percent complete accounting on the contracts that comprise the revenue is not available for the required periods.In connection with all of the 2024 acquisitions, the Company recognized $0.1 million and $0.3 million of acquisition related expenses within Other Income and Expenses in the condensed consolidated statement of income for each of the three and nine months ended September 30, 2025, respectively, including legal fees, consulting fees, and other miscellaneous expenses associated with acquisitions.The following table summarizes the purchase price allocation at fair value for identifiable intangible assets acquired in 2025 and 2024 (in thousands):2025Weighted-Average Life2024Weighted-Average LifeCustomer relationships$2,068 1.39$20,540 12.51Contract rights679 0.845,790 1.42Favorable leaseholds- n/a101 5.50Total$2,747 $26,431 

5. Disaggregation of Revenue and Contract Balances

The Company disaggregates revenues by contract type, see Revenue Recognition in Note 2 for further details. For the three and nine months ended September 30, 2025, the Company derived 91.1% and 91.2% of its revenue from contracts classified as lump sum, and 8.9% and 8.8% of its revenue from time and material contracts, respectively. For the three and nine months ended September 30, 2024, the Company derived 91.4% and 90.4% of its revenue from contracts classified as lump sum, and 8.6% and 9.6% of its revenue from time and material contracts, respectively.The Company had approximately $334.0 million in remaining performance obligations as of September 30, 2025 of which it expects to recognize approximately 89.1% within the next twelve months and the remaining 10.9% in the next twelve to twenty-four months.Disaggregated revenues by contract type were as follows (in thousands):For the Three Months Ended September 30,For the Nine Months Ended September 30,2025202420252024Fixed fee$114,775 91.1 %$104,091 91.4 %$329,217 91.2 %$283,174 90.4 %Time-and-materials11,258 8.9 %9,841 8.6