Company: BWMN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023232
Chunk: 4

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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ASH FLOWS

(Amounts in thousands)

(Unaudited)

For the Three Months Ended March 31,20252024Cash Flows from Operating Activities:Net loss$(1,744)$(1,558)Adjustments to reconcile net loss to net cash provided by operating activitiesDepreciation and amortization - property, plant and equipment3,904 2,656 Amortization of intangible assets2,617 3,339 Gain on sale of assets(49)(96)Credit losses345 402 Stock based compensation6,630 7,829 Deferred taxes(10,977)(4,201)Accretion of discounts on notes payable256 117 Changes in operating assets and liabilities, net of acquisition of businesses  Accounts receivable(1,896)(7,946)Contract assets(6,340)(2,151)Prepaid expenses and other assets615 (5,523)Accounts payable and accrued expenses14,885 10,614 Contract liabilities3,788 (963)Net cash provided by operating activities12,034 2,519 Cash Flows from Investing Activities:  Purchases of property and equipment(1,043)(262)Fixed assets converted to lease financing– 424 Proceeds from sale of assets and disposal of leases49 96 Payments received under loans to shareholders– 20 Proceeds from notes receivable718 – Acquisitions of businesses, net of cash acquired(1,479)(3,027)Collections under stock subscription notes receivable11 10 Net cash used in investing activities(1,744)(2,739)Cash Flows from Financing Activities:  (Repayments) Borrowings under revolving credit facility8,000 1,964 Repayments under fixed line of credit– (49)Repayment under notes payable(4,377)(3,734)Payments on finance leases(2,702)(1,716)Payment of contingent consideration from acquisitions(1,016)– Payments for purchase of treasury stock(2,574)(5,732)Repurchases of common stock(4,103)– Proceeds from issuance of common stock484 473 Net cash used in financing activities(6,288)(8,794)Net increase (decrease) in cash and cash equivalents4,002 (9,014)Cash and cash equivalents, beginning of period6,698 20,687 Cash and cash equivalents