Company: BWMN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023232
Chunk: 110

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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 Three Months Ended March 31,Consolidated Gross Contract Revenue2025%GCR2024%GCRChange% ChangeBuilding Infrastructure1$55,915 49.5 %$52,785 55.6 %$3,130 5.9 %Transportation23,542 20.8 %18,128 19.1 %5,414 29.9 %Power & Utilities121,435 19.0 %18,467 19.5 %2,968 16.1 %Emerging Markets 212,039 10.7 %5,527 5.8 %6,512 117.8 %Total:$112,931 100.0 %$94,907 100.0 %$18,024 19.0 %Acquired 3$11,842 10.5 %$18,474 19.5 %$(6,632)(35.9)%

1Includes periodic reclassifications of revenue between categories from prior periods for consistency of presentation.

2Represents environmental, mining, water resources, imaging and mapping and other.

3Acquired revenue in prior periods is as previously reported; four quarters post-closing, acquired revenue is reclassified as organic for the purpose of calculating organic growth rates.

For the three months ended March 31, 2025, gross contract revenue from the building infrastructure market increased $3.1 million or 5.9% as compared to the three months ended March 31, 2024. Building Infrastructure includes commercial, municipal and residential infrastructure. The increase in building infrastructure revenue was the result of acquisitions. Within the building infrastructure market, 39.4% of gross contract revenue was derived from residential assignments including single family, multi-family and mixed-use housing stock, 43.5% from commercial assignments including retail, hospitality and quick-serve restaurants (QSR), office and industrial, data centers and healthcare, and 17.1% from municipal assignments, including parks and schools. Within residential, 51.2% of gross contract revenue was derived from for-sale homebuilding assignments, 42.4% from residential multi-family and 6.4% from mixed use projects. While the homebuilding market shows signs of rebounding from prior year interest rate impacts, for-sale residential services represented just 10.0% of our total gross contract revenue for the three months ended March 31