Company: BWMN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023232
Chunk: 134

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 workforce increased $14.4 million, or 16.8% to $100.1 million or 88.6% of gross contract revenue as compared to $85.7 million or 90.3% for the three months ended March 31, 2024 (see Net service billing – non-GAAP). Of the $18.0 million increase in gross contract revenue during the three months ended March 31, 2025, acquisitions represented $11.8 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.

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

For the 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,