Bowman Consulting Group Ltd.

Listed Company

BWMNCIK 0001847590NasdaqAcceleratedEmerging GrowthServices-Management Consulting Services

Period

FY 2025

Revenue

$490.02M

Net Income

$12.85M

Total Assets

$579.68M

Equity

$261.11M

Shares Out

17.12M

Op. Cash Flow

$35.83M

Business

Bowman Consulting Group Ltd. is a professional services firm delivering engineering, technology and program management services to customers who own, develop, and maintain the built environment. It provides planning, engineering, construction management, commissioning, environmental consulting, geospatial imaging, surveying, land procurement and other technical, technology-enabled consulting services. Its operations are organized across segments including Building Infrastructure, Transportation, Power & Utilities and Emerging Markets (water, mining, high-altitude orthoimagery), offering civil, structural, MEP, surveying, environmental and program management capabilities. Bowman serves public and private sector clients nationwide from more than 95 U.S. offices and select offices in Mexico, acting as both prime and sub-consultant under direct contracts, master services agreements and project engagements.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gross contract revenue	490	427	346	262	—
Direct payroll costs	173	157	128	100	59
Sub-consultants and expenses	55	47	42	27	15
Total contract costs	228	204	170	127	75
Selling, general and administrative	215	197	158	118	69
Depreciation and amortization	28	28	19	12	6
(Gain) on sale	−740,000	−477,000	−411,000	−82,000	122,000
Total operating expenses	242	225	177	130	75
Income (loss) from operations	20	−2	−656,000	5	160,000
Other expense	9	7	6	3	1
Income (loss) before tax expense	11	−9	−6	2	−1
Income tax benefit	−2	−12	177,000	−3	−2
Net income	13	3	−7	5	299,000
Earnings allocated to non-vested shares	621,000	230,000	0	783,000	56,000
Net income attributable to common shareholders	12	3	−7	4	243,000
Basic (in dollars per share)	0.74	0.18	−0.53	0.39	0.03
Diluted (in dollars per share)	0.73	0.17	−0.53	0.37	0.03
Basic (in shares)	16	16	12	11	8
Diluted (in shares)	17	16	12	12	8

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and equivalents	11	7	21	13	21
Accounts receivable, net	131	105	88	64	38
Contract assets	54	43	34	16	9
Notes receivable - officers, employees, affiliates, current portion	13,000	2	1	1	1
Prepaid and other current assets	18	20	12	7	5
Total current assets	213	177	155	102	74
Property and equipment, net	49	42	28	25	20
Operating lease, right-of-use assets	46	42	41	30	21
Goodwill	174	135	96	53	28
Notes receivable	903,000	903,000	903,000	903,000	903,000
Notes receivable - officers, employees, affiliates, less current portion	1	638,000	1	1	1
Other intangible assets, net	89	65	46	28	12
Deferred tax asset	6	42	34	14	0
Other assets	2	2	1	1	681,000
Total Assets	580	506	403	256	138
Revolving credit facility	95	37	45	0	—
Accounts payable and accrued liabilities, current portion	60	52	44	40	18
Contract liabilities	11	8	7	6	5
Notes payable, current portion	23	17	14	10	4
Operating lease obligation, current portion	12	11	9	7	6
Finance lease obligation, current portion	14	10	7	5	5
Total current liabilities	215	135	127	69	33
Other non-current obligations	377,000	45	42	356,000	0
Notes payable, less current portion	34	20	14	16	8
Operating lease obligation, less current portion	40	37	38	28	20
Finance lease obligation, less current portion	24	18	14	14	10
Pension and post-retirement obligation, less current portion	5	5	5	5	0
Total liabilities	319	260	240	133	60
Preferred Stock, $0.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.01 par value; 30,000,000 shares authorized as of December 31, 2025 and 2024; 21,972,432 shares issued and 17,194,091 outstanding, and 21,281,247 shares issued and 17,382,138 outstanding as of December 31, 2025 and 2024, respectively	220,000	213,000	177,000	159,000	137,000
Additional paid-in-capital	355	329	215	163	121
Accumulated other comprehensive income	895,000	1	590,000	578,000	0
Treasury stock, at cost; 4,778,341 and 3,899,109, respectively	−85	−61	−26	−21	—
Stock subscription notes receivable	0	−30,000	−76,000	−173,000	−277,000
Accumulated deficit	−11	−23	−26	−20	−25
Total shareholders' equity	261	246	163	123	78
TOTAL LIABILITIES AND EQUITY	580	506	403	256	138

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	13	3	−7	5	299,000
Depreciation and amortization - property and equipment	17	14	10	8	6
Amortization of intangible assets	10	14	9	4	400,000
Gain on sale of assets	−909,000	−477,000	−411,000	−82,000	−122,000
Credit losses	2	2	515,000	742,000	496,000
Stock based compensation	19	26	25	15	8
Deferred taxes	36	−20	−26	−18	−2
Accretion of discounts on notes payable	1	483,000	642,000	258,000	0
Accounts receivable	−23	−9	−14	−14	−9
Contract assets	−9	−4	−11	−5	−387,000
Prepaid expenses and other assets	3	−6	143,000	—	—
Accounts payable and accrued expenses	−34	8	28	16	3
Contract liabilities	723,000	−3	−4	−1	−192,000
Net cash provided by operating activities	36	24	12	9	5
Purchases of property and equipment	−2	−626,000	−2	−902,000	−905,000
Proceeds from sale of assets and disposal of leases	1	478,000	411,000	—	—
Payments received under loans to shareholders	0	11,000	115,000	49,000	36,000
Payments received under notes receivable	1	0	—	—	—
Capitalized internal-use software development costs	−370,000	0	—	—	—
Purchase of intangible asset	0	−3	0	—	—
Acquisitions of businesses, net of cash acquired	−35	−24	−26	−18	−20
Collections under stock subscription notes receivable	30,000	46,000	98,000	104,000	332,000
Net cash used in investing activities	−36	−27	−27	−19	−22
Proceeds from common stock offering, net of underwriting discounts and commissions and other offering costs	0	47	0	15	0
Borrowings under revolving credit facility	58	—	45	0	—
Repayments under revolving credit facility	—	−8	—	0	−3
Repayments under fixed line of credit	0	−345,000	−430,000	−734,000	−722,000
Proceeds from notes payable	0	6	0	—	—
Repayment under notes payable	−18	−16	−11	−5	−1
Proceeds from finance leases	0	5	0	—	—
Payments on finance leases	−13	−9	−7	−6	—
Payment of contingent consideration from acquisitions	−1	−2	0	0	−2,000
Payments for purchase of treasury stock	−5	−11	−5	−3	—
Repurchases of common stock	−19	−23	−745,000	0	−582,000
Proceeds from the issuance of common stock	2	2	2	1	555,000
Net cash provided by (used in) financing activities	4	−11	23	2	37
Net increase (decrease) in cash and cash equivalents	4	−14	7	−7	20
Cash paid for interest	8	7	4	2	887,000
Cash paid for income taxes	702,000	8	1	400,000	2
Property and equipment acquired under finance lease	−22	−12	−8	−8	−9
Note payable converted to common shares	−2	−3	−1	0	—
Issuance of notes payable for acquisitions	−37	−22	−14	−19	−10
Issuance of contingent consideration	0	−2	−10	−487,000	—
Settlement of contingent consideration	3	2	0	—	—

Filings

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