Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 118

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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: Amounts representing interest$(8,417)$(3,511)Total lease liabilities$50,047 $27,095 The above table is exclusive of $0.1 million sub-lease income associated with the $50.1 million total liability of operating leases as presented on the condensed consolidated balance sheet.The above table is exclusive of the $7.6 million purchase price associated with the $34.7 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 derives the majority of its revenue from domestic customers, and has no significant long-lived assets located outside the United States. No single customer accounted for 10% or more of the Company’s total revenue during the period.The Chief Operating Decision Maker (“CODM”) assesses performance for the Company and decides how to allocate resources based on significant expense categories that contribute to net income (loss), as outlined below. The CODM uses these varying results to prioritize the reinvestment of profits within the Company. These results are also used in assessing the Company’s performance and determining management’s compensation. The CODM does not review assets in evaluating the results of the Company, and therefore, such information is not presented.The following tables provides the operating financial results of the Company for the three and nine months ended September 30, 2025 and 2024:

30

(in thousands)Three Months Ended September 30,Nine Months Ended       September 30,2025202420252024Gross contract revenue$126,033 $113,932 $361,054 $313,341 Less:Labor and fringe71,152 64,263 203,190 181,799 Other segment items113,947 12,556 40,918 32,293 General & administrative expenses21,246 19,123 59,423 53,496 Incentives7,879 10,228 22,176 28,958 Depreciation and amortization6,887 7,395 19,952 20,572 Interest expense