Company: BWMN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050314
Chunk: 46

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 42,511 Adjusted EBITDA margin, net16.3 %16.7 %16.6 %15.1 %

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1Represents non-GAAP financial measures. See Other Financial Information and Non-GAAP key performance indicators below. 

Three months ended September 30, 2025 as compared to the three months ended September 30, 2024

Gross Contract Revenue

Gross contract revenue for the three months ended September 30, 2025, increased $12.1 million or 10.6% to $126.0 million as compared to $113.9 million for the three months ended September 30, 2024. For the three months ended September 30, 2025, gross contract revenue attributable to work performed by our workforce increased $10.7 million, or 10.6% to $112.1 million or 89.0% of gross contract revenue as compared to $101.4 million or 89.0% for the three months ended September 30, 2024 (see Net service billing – non-GAAP). Of the $12.1 million increase in gross contract revenue during the three months ended September 30, 2025, acquisitions represented $4.4 million of the increase. To evaluate the Company’s growth, revenue from acquisitions is treated as acquired for a period of four quarters post-closing, after which it is considered organic. For each measurement and comparison period, historical balances of acquired and organic revenue bases are adjusted to reflect revenue accordingly.

Changes in gross contract revenue disaggregated between our core markets were as follows (in thousands other than percentages):

For the Three Months Ended September 30,Consolidated Gross Contract Revenue2025%GCR2024%GCRChange% ChangeBuilding Infrastructure1$56,845 45.1 %$52,555 46.1 %$4,290 8.2 %Transportation26,262 20.8 %21,851 19.2 %4,411 20.2 %Power & Utilities127,583 21.9 %23,660 20.8 %3,923 16.6 %Natural Resources & Imaging215,343 12.2 %15,866 13.9 %(523)(3.3)%Total:$126,033 100.0 %$113,932 100.0