Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 153

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 153
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 to secure assignments that provide reoccurring revenue and multi-year engagements thus resulting in dependable and predictable revenue streams and high employee utilization. We limit our exposure to risk by providing professional and related services exclusively. We do not engage in general contracting activities either directly, or through joint ventures, and therefore have no related exposure. We are not a partner in any design-build construction projects. We carry no heavy equipment inventory, and our risk of contract loss is generally limited to time associated with fixed fee professional services assignments. 

Gross contract revenue for the three months ended September 30, 2025 and 2024 was $126.0 million and $113.9 million, respectively, representing year over year growth of 10.6%. Gross contract revenue derived from our workforce represented 89.0% of gross contract revenue for each of the three months ended September 30, 2025 and 2024, respectively (see Net service billing – non-GAAP below). Our net income for the three months ended September 30, 2025 and 2024 was $6.6 million and $0.8 million, respectively. Our Adjusted EBITDA for the three months ended September 30, 2025 and 2024 was $18.3 million on net income of $6.6 million and $17.0 million on net income of $0.8 million, respectively. (see Adjusted EBITDA – non-GAAP below).

Gross contract revenue for the nine months ended September 30, 2025 and 2024 was $361.1 million and $313.3 million, respectively, representing year over year growth of 15.3%. Gross contract revenue derived from our workforce represented 88.6% and 89.7% of gross contract revenue for the nine months ended September 30, 2025 and 2024, respectively (see Net service billing – non-GAAP below). Our net income (loss) for the nine months ended September 30, 2025 and 2024 was $10.9 million and ($2.9) million, respectively. Our Adjusted EBITDA for the nine months ended September 30, 2025 and 2024 was $53.0 million on net income of $10.9 million and $42.5 million on net loss of ($2.9) million, respectively. (see Adjusted EBITDA – non-GAAP below)

Subsequent Events

Subsequent to September