Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 164

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 164
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2024. This decrease is primarily due to a decrease in amortization of intangibles. The net loss (gain) on the sale of certain IT equipment and automobiles increased $0.4 million to $0.2 million of expense for the three months ended June 30, 2025, as compared to ($0.2) million of gain in the three months ended June 30, 2024. 

Other (Income) Expense

Other expense decreased by $0.4 million to $1.6 million of expense for the three months ended June 30, 2025 as compared to $2.0 million for the three months ended June 30, 2024. The decrease was primarily driven by $1.1 million in acquisition-related gains, partially offset by a $0.5 million increase in interest expense.

Income Tax Expense (Benefit)

Income tax expense (benefit) for the three months ended June 30, 2025, increased $2.6 million to $1.4 million expense, compared to ($1.2) million benefit for the three months ended June 30, 2024, see Note 2, Income Taxes. Our effective tax rate for the three months ended June 30, 2025, was 18.9% compared to 36.2% for the three months ended June 30, 2024.

Income (Loss) Before Tax and Net Income (Loss)

Income (loss) before tax increased by $10.7 million for the three months ended June 30, 2025, to $7.4 million of income compared to ($3.3) million of loss for the three months ended June 30, 2024. Net income (loss) increased by $8.1 million to $6.0 million of net income for the three months ended June 30, 2025, as compared to ($2.1) million of net loss for the three months ended June 30, 2024. 

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Other financial information and Non-GAAP key performance indicators 

Net service billing (non-GAAP)

Net service billing increased $14.0 million or 14.9% to $108.0 million for the three months ended June 30, 2025, as compared to $94.0 million for the three months ended June 30, 2024. Net service billing reconciles to gross contract revenue as follows (in thousands):

For the Three Months Ended