Company: BWMN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001628280-25-012365
Chunk: 107

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 107
---
 negatively affect, and cause significant volatility in our financial results. 

In addition, we have assumed, and may in the future assume, liabilities of the companies we acquire. While we conduct a due diligence process and when appropriate, we retain third-party advisors to consult on potential liabilities related to these acquisitions, there can be no assurances that all potential liabilities will be identified or known to us. If there are unknown liabilities or other obligations, our business could be materially adversely affected. 

While we have integrated businesses in the past, our growth strategy includes the acquisition of companies that are larger than ones we have acquired in the past. Our inability to integrate future acquisitions successfully could impede us from realizing all of the benefits of those acquisitions and could weaken our business operations. The integration process of any acquisition may disrupt our business and, if implemented ineffectively, may preclude realization of the full benefits expected by us and could harm our results of operations. In addition, the overall integration process may result in unanticipated problems, expenses, liabilities, and competitive responses and may cause our stock price to decline. 

The difficulties of integrating acquisitions include, among other things: 

•unanticipated issues in integration of information, communications and other systems;

•unanticipated incompatibility of logistics, marketing and administration methods;

23

Table of Content

•maintaining employee morale and retaining key employees;

•integrating the business cultures of companies;

•preserving important strategic customer relationships;

•consolidating corporate and administrative infrastructures and eliminating duplicative operations; and

•coordinating geographically separate organizations. 

In addition, even if the operations of an acquisition are integrated successfully, we may not realize the full benefits of such acquisition, including the synergies, cost savings or growth opportunities that we expect. These benefits may not be achieved within the anticipated time frame, or at all. 

Further, acquisitions have in the past, and may also in the future, cause us to: 

•expend significant time, effort and resources;

•issue securities that would dilute our current stockholders;

•use a substantial portion of our cash resources;

•increase our interest expense, leverage and debt service requirements if we incur additional debt to pay

for an acquisition;

•assume liabilities, including environmental liabilities, for which we do not have indemnification from the

former owners or have indemnification that may be subject to dispute or concerns regarding the creditworthiness of the former owners;

•record goodwill and non-amortizable intangible assets that are subject to impairment testing on a