Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 171

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 171
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30, 2025 as compared to $20.6 million for the nine months ended September 30, 2024. The net gain on the sale of certain IT equipment and automobiles decreased ($0.1) million to $0.3 million of gain for the nine months ended September 30, 2025, as compared to $0.4 million of gain for the nine months ended September 30, 2024. 

Other (Income) Expense

Other expense decreased by $0.2 million to $5.8 million of expense for the nine months ended September 30, 2025 as compared to $6.0 million for the nine months ended September 30, 2024.

Income Tax Benefit

Income tax benefit for the nine months ended September 30, 2025, decreased by $5.3 million to $1.2 million, compared to $6.5 million benefit for the nine months ended September 30, 2024, see note 2, Income Taxes. Our effective tax rate for the nine months ended September 30, 2025, was (12.1)% as compared to 69.5% for the nine months ended September 30, 2024. 

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

Income (loss) before tax increased by $19.1 million for the nine months ended September 30, 2025, to $9.7 million of income compared to ($9.4) million of loss for the nine months ended September 30, 2024. Net income increased by $13.8 million to $10.9 million of net income for the nine months ended September 30, 2025, as compared to ($2.9) million of net loss for the nine months ended September 30, 2024. 

Other financial information and Non-GAAP key performance indicators 

Net service billing (non-GAAP)

Net service billing increased $39.1 million or 13.9% to $320.1 million for the nine months ended September 30, 2025, as compared to $281.0 million for the nine months ended September 30, 2024. Net service billing reconciles to gross contract revenue as follows (in thousands):

For the Nine Months Ended September 30,20252024Gross contract revenue$361,054 $313,341 Less: sub-consultants and other direct expenses40,917 32