Company: BWMN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023232
Chunk: 102

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 102
---
1,964 Interest on lease liabilities448 364 Sublease income(27)(27)Total lease cost$6,977 $5,389 Three Months Ended(Amounts in thousands)March 31, 2025March 31, 2024Cash paid for amounts included in the measurements of lease liabilitiesOperating cash flows from operating leases$3,574 $3,021 Operating cash flows from finance leases448 364 Financing cash flows from finance leases2,702 1,716 Right-of-use assets obtained in exchange for new operating leases3,913 1,772 Right-of-use assets obtained in exchange for new finance leases2,024 3,002 

26

As ofAs ofMarch 31, 2025December 31, 2024Weighted average remaining lease term (in years):Operating leases4.694.71Finance leases2.382.48Weighted average discount rates:Operating leases6.8 %6.7 %Finance leases6.8 %6.7 %Future minimum commitments under leases for the remainder of 2025 and succeeding years are as follows (in thousands): (Amounts in thousands)Operating LeaseFinance Lease2025$10,529 $9,147 202612,547 8,772 202711,059 4,566 20289,975 1,855 20297,158 92 Thereafter6,289 – Total lease payments$57,557 $24,432 Less: Amounts representing interest$(8,540)$(2,565)Total lease liabilities$49,017 $21,867 The above table is exclusive of $0.1 million sub-lease income associated with the $49.1 million total liability of operating leases as presented on the condensed consolidated balance sheet.The above table is exclusive of the $5.7 million purchase price associated with the $27.6 million total liability of finance leases as presented on the condensed consolidated balance sheet.

16. Segment

The Company operates as a single business segment represented by our core business of providing multi-disciplinary professional engineering solutions to customers. The Company primarily derives its revenue from its core business of providing engineering and related professional services to customers. While we evaluate revenue and other key performance indicators relating to various divisions of labor, our leadership neither manages the business nor deliberately allocates resources by service line, geography, or end market. The Company