Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 3

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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Item 1. Financial Statements

1

Table of Contents

BOWMAN CONSULTING GROUP LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands except per share data)June 30,2025December 31,2024(Unaudited) ASSETSCurrent AssetsCash and cash equivalents$15,540 $6,698 Accounts receivable, net113,131 105,105 Contract assets52,468 43,369 Notes receivable, current portion903 – Notes receivable - officers, employees, affiliates, current portion443 1,889 Prepaid and other current assets14,240 19,560 Total current assets196,725 176,621 Non-Current Assets  Property and equipment, net45,163 42,011 Operating lease, right-of-use assets42,122 42,085 Goodwill135,929 134,653 Notes receivable, less current portion– 903 Notes receivable - officers, employees, affiliates, less current portion1,108 638 Other intangible assets, net61,403 65,409 Deferred tax asset, net54,225 42,040 Other assets1,570 1,521 Total Assets$538,245 $505,881 LIABILITIES AND SHAREHOLDERS' EQUITY  Current Liabilities  Revolving credit facility$59,516 $37,000 Accounts payable and accrued liabilities, current portion42,954 51,626 Contract liabilities13,522 7,905 Notes payable, current portion15,316 17,075 Operating lease obligation, current portion11,142 10,979 Finance lease obligation, current portion13,113 10,394 Total current liabilities155,563 134,979 Non-Current Liabilities  Other non-current obligations55,705 45,079 Notes payable, less current portion16,003 19,992 Operating lease obligation, less current portion36,936 37,058 Finance lease obligation, less current portion19,721 17,940 Pension and post-retirement obligation, less current portion4,674 4,718 Total liabilities$288,602 $259,766 Shareholders' EquityPreferred Stock, $0.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as