Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 126

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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DA Margin, net 

Adjusted EBITDA Margin, net, which is a non-GAAP financial measure, represents Adjusted EBITDA, as defined above, as a percentage of net service billings, as defined above. 

Results of Operations

Combined results of operations

The following represents our condensed consolidated results of operations for periods indicated (in thousands):

For the Three Months Ended   June 30,For the Six Months Ended        June 30,2025202420252024Gross contract revenue$122,090 $104,501 $235,021 $199,409 Contract costs (exclusive of depreciation and amortization)56,518 49,616 111,361 96,514 Operating expense56,528 56,120 113,480 106,740 Income (loss) from operations9,044 (1,235)10,180 (3,845)Other expense1,636 2,027 3,746 4,428 Income tax expense (benefit)1,399 (1,180)2,169 (4,633)Net income (loss)$6,009 $(2,082)$4,265 $(3,640)Net margin4.9 %(2.0)%1.8 %(1.8)%Other financial information 1Net service billing$107,997 $93,981 $208,050 $179,671 Adjusted EBITDA20,203 13,412 34,708 25,541 Adjusted EBITDA margin, net18.7 %14.3 %16.7 %14.2 %

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

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

Gross Contract Revenue

Gross contract revenue for the three months ended June 30, 2025, increased $17.6 million or 16.8% to $122.1 million as compared to $104.5 million for the three months ended June 30, 2024. For the three months ended June 30, 2025, gross contract revenue attributable to work performed by our workforce increased $14.0 million, or 14.9% to $108.0 million or 88.5