Company: BWMN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039001
Chunk: 64

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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, we may opportunistically access the public debts and equity markets.

We are actively pursuing acquisitions as part of our strategic growth initiative. At any given time, we are assessing multiple opportunities at varying stages of due diligence. These acquisition opportunities range in size, timing of closing, valuation, and composition of consideration. In connection with acquisitions, we use a combination of cash, bank financing, seller financing, and equity to satisfy the purchase price. Currently, we have several acquisitions under consideration. There can be no assurance that any opportunity in the process of being reviewed will close but we expect over time to utilize a meaningful portion of our current liquidity and capital resources for acquisitions.

Cash Flows

The following table summarizes our cash flows for the periods presented: 

For the Six Months Ended    June 30, Condensed Consolidated Statements of Cash Flows (amounts in thousands)20252024Net cash provided by operating activities$16,293 $5,588 Net cash used in investing activities(1,837)(20,582)Net cash (used in) provided by financing activities(5,614)17,450 Change in cash, cash equivalents and restricted cash8,842 2,456 Cash and cash equivalents, end of period15,540 23,143 

Operating Activities

During the six months ended June 30, 2025, net cash provided by operating activities was $16.3 million, which primarily consisted of $4.3 million net income, adjusted for stock-based compensation expense of $9.7 million and depreciation and amortization expense of $13.1 million, offset by deferred taxes of $12.2 million and a net cash inflow of $0.2 million from changes in operating assets and liabilities. The net outflow from changes in operating assets and liabilities was primarily due to a $3.2 million decrease in prepaid expenses and other assets, and a $5.6 million increase in accounts payable and accrued expenses, partially offset by a $8.1 million increase in accounts receivable resulting from a combination of acquired accounts receivable from acquisitions and an increased billing to our customers and a $3.2 million increase in contract assets and liabilities.

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Investing Activities

Net cash used in investing activities decreased by $18.8 million to $1.8 million for the six months ended June 30, 2025 as compared to $20.6 million for the six months ended June 30, 2024. The decrease in net cash used