Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 108

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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.1 million and $1.8 million, respectively. Property and equipment for finance leased assets are as follows (in thousands):June 30, 2025December 31, 2024Equipment$41,326 $33,654 Vehicles12,442 10,287 Total:53,768 43,941 Less: accumulated amortization on leased assets(23,816)(17,960)Finance leased assets, net$29,952 $25,981 Amortization expense for finance leased assets for the three and six months ended June 30, 2025 was $3.1 million and $6.1 million, respectively. Amortization expense for finance leased assets for the three and six months ended June 30, 2024 was $2.3 million and $4.3 million, respectively.

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9. Goodwill 

Changes in the carrying amount of goodwill were as follows (in thousands):GoodwillBalance as of December 31, 2024$134,653 2025 Acquisitions - additions1,296 2024 Acquisitions - adjustments(20)Balance as of June 30, 2025$135,929 There were no impairments of goodwill during the periods presented.

10. Intangible Assets

Total intangible assets consisted of the following at June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025December 31, 2024Gross AmountAccumulatedAmortization Net BalanceGross AmountAccumulatedAmortization Net BalanceCustomer relationships$64,662 $(14,246)$50,416 $64,164 $(11,172)$52,992 Contract rights20,680 (18,409)2,271 20,051 (16,393)3,658 Leasehold619 (225)394 619 (182)437 Domain name281 – 281 281 – 281 Licensing rights8,041 – 8,041 8,041 – 8,041 Total$94,283 $(32,880)$61,403 $93,156 $(27,747)$65,409 The following table summarizes the weighted average useful lives (in years) of intangible assets by asset class used for straight-line amortization expense purposes:June 30, 2025December