Core Insights - Bowman Consulting Group Ltd. has been awarded two new assignments in Aurora, Colorado, expanding its role in The Aurora Highlands, a significant master-planned community [1][2] - The projects include a one-mile, four-lane roadway extension and a 154-unit residential duplex neighborhood, with work commencing immediately [2] - The company's engagement with the Aerotropolis Area Coordinating Metropolitan District highlights its strong client relationship model and ability to capture more assignments [3] Project Details - The first project involves roadway design, traffic signal engineering, landscape architecture, and project management for a one-mile roadway extension [2] - The second project focuses on site planning, civil engineering, landscape architecture, and full construction documentation for a residential duplex neighborhood [2] Business Strategy and Growth - The CEO emphasized that the expanding engagement with the District allows Bowman to increase its wallet-share and capture more assignments due to its broad capabilities [3] - There is a growing demand for large land development projects, which require multiple services from different business segments [3] - Improved financing conditions are expected to support long-term growth prospects in residential infrastructure development [3] Company Overview - Bowman Consulting Group Ltd. is headquartered in Reston, Virginia, and provides engineering services, technology, and project management solutions [4] - The company employs over 2,500 staff across more than 100 locations in the United States, serving a diverse range of regulated end markets [4] - Bowman trades on the Nasdaq under the symbol BWMN [4]

Financial Performance - Gross contract revenue for Q3 2025 was $126.0 million, a year-over-year increase of 10.6% from $113.9 million in Q3 2024[155]. - Net income for Q3 2025 was $6.6 million, compared to $0.8 million in Q3 2024, reflecting significant improvement in profitability[155]. - Adjusted EBITDA for Q3 2025 was $18.3 million, up from $17.0 million in Q3 2024, indicating strong operational performance[155]. - For the nine months ended September 30, 2025, gross contract revenue reached $361.1 million, representing a 15.3% increase from $313.3 million in the same period of 2024[156]. - Net income increased by $13.8 million to $10.9 million for the nine months ended September 30, 2025, compared to a net loss of $2.9 million for the same period in 2024[222]. Revenue Breakdown - Net service billing for Q3 2025 was $112.1 million, compared to $101.4 million in Q3 2024, demonstrating growth in service delivery[180]. - Revenue from transportation increased by $4.4 million or 20.2%, driven by new contract awards and acquired transportation backlog[183][184]. - Revenue from power and utilities increased by $3.9 million or 16.6%, primarily due to acquisitions and expansion of utility projects[185]. - Revenue from natural resources and imaging decreased by $0.5 million or 3.3%, with 48.9% of revenue derived from imaging and mapping activities[186]. - Revenue from the transportation sector increased by $14.5 million or 24.1% for the nine months ended September 30, 2025, attributed to new contract awards and acquired backlog[207]. - Revenue from power and utilities increased by $13.0 million or 19.6% for the nine months ended September 30, 2025, driven by acquisitions and expansion of utility projects[208]. - Revenue from natural resources and imaging markets increased by $10.0 million or 32.1% for the nine months ended September 30, 2025, primarily due to the acquisition of Surdex Corporation[210]. Cost and Expenses - Total contract costs increased by $4.8 million or 8.8% to $59.1 million, representing 46.9% of total contract revenue[188]. - Direct payroll costs increased by $3.5 million or 8.4% to $45.2 million, accounting for 76.5% of total contract costs[189]. - Selling, general and administrative expenses increased by $3.3 million or 6.4% to $55.2 million, driven by increased headcount and overhead costs[194]. - Total contract costs increased by $19.7 million or 13.1% to $170.5 million for the nine months ended September 30, 2025, representing 47.2% of total contract revenue[212]. - Direct payroll costs increased by $11.0 million or 9.3% to $129.5 million for the nine months ended September 30, 2025, accounting for 76.0% of total contract costs[213]. Profitability Metrics - Adjusted EBITDA margin for Q3 2025 was 16.3%, slightly down from 16.7% in Q3 2024, reflecting stable operational efficiency[180]. - The company’s net margin improved to 5.3% in Q3 2025, compared to 0.7% in Q3 2024, indicating better cost management[180]. - Adjusted EBITDA increased by $1.3 million or 7.8% to $18.3 million for the three months ended September 30, 2025, compared to $17.0 million for the same period in 2024[201]. - Adjusted EBITDA margin decreased slightly to 16.3% for the three months ended September 30, 2025, from 16.7% in the same period of 2024[202]. - Adjusted EBITDA rose by $10.5 million or 24.7% to $53.0 million for the nine months ended September 30, 2025, compared to $42.5 million for the same period in 2024[224]. Cash Flow and Financing - Cash and cash equivalents at the end of the period increased by $4.6 million to $16.2 million as of September 30, 2025, compared to $11.7 million at the end of 2024[231]. - Net cash provided by operating activities was $26.5 million for the nine months ended September 30, 2025, compared to $12.4 million for the same period in 2024[232]. - Net cash used in investing activities decreased by $22.2 million to $1.4 million for the nine months ended September 30, 2025, compared to $23.6 million for the same period in 2024[233]. - Net cash used in financing activities was $15.5 million for the nine months ended September 30, 2025, compared to $2.2 million provided by financing activities for the same period in 2024[234]. - The company maintained a $140.0 million Revolving Credit Facility as of September 30, 2025, with a balance of $57.0 million[235]. Strategic Initiatives - The company completed three acquisitions post-September 30, 2025, with total consideration of $7.4 million, enhancing its market position[157]. - The company is actively pursuing acquisitions as part of its strategic growth initiative, assessing multiple opportunities at various stages of due diligence[230]. - The backlog increased by $48.7 million or 12.2% to $447.7 million during the nine months ended September 30, 2025, compared to $399.0 million at December 31, 2024[226]. Market Risks and Challenges - The company faces market risks related to customer demand fluctuations and competitive pressures in the industry[246]. - The ability to retain key professionals and hire additional qualified personnel is critical for the company's growth strategy[246]. - The company is dependent on a limited number of customers, which poses a risk to revenue stability[246]. - The company must successfully execute its acquisitions strategy, including the integration of new acquisitions into operations[246]. - Changes in general economic conditions, such as inflation and interest rates, could materially impact the company's performance[246].

Bowman Consulting Group (NasdaqGM:BWMN) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker3Good morning. My name is Jasmine, and I will be the conference operator today. At this time, I would like to welcome everyone to the Bowman Consulting third quarter 2025 conference call. All lines will be placed on mute for the presentation portion of the call, with the opportunity for questions and answers at the end. Please note that many of the comments made today are considered forward-looking statements ...

Q3 2025 EARNINGS | NOVEMBER 6, 2025 | NASDAQ: BWMN TRANSPORTATION POWER, UTILITIES & ENERGY BUILDING INFRASTRUCTURE NATURAL RESOURCES Gary Bowman Chief Executive Officer Bruce Labovitz Chief Financial Officer Safe Harbor Statement Please note that many of the comments made today are considered forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those ...

分组1 - Bowman Consulting (BWMN) reported quarterly earnings of $0.61 per share, exceeding the Zacks Consensus Estimate of $0.38 per share, and showing an increase from $0.30 per share a year ago, resulting in an earnings surprise of +60.53% [1] - The company posted revenues of $126.03 million for the quarter ended September 2025, which was 2.15% below the Zacks Consensus Estimate, but an increase from $113.93 million year-over-year [2] - Over the last four quarters, Bowman Consulting has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] 分组2 - Since the beginning of the year, Bowman Consulting shares have increased by approximately 70.4%, significantly outperforming the S&P 500's gain of 15.1% [3] - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $129.23 million, and for the current fiscal year, it is $1.33 on revenues of $493.06 million [7] - The Zacks Industry Rank indicates that the Business - Services sector is currently in the bottom 35% of over 250 Zacks industries, which may impact stock performance [8]

FOR IMMEDIATE RELEASE Bowman Reports Third Quarter 2025 Results; Issues 2026 Guidance November 5, 2025, Reston, VA - Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering services and program management firm, today announced financial results for the quarter ended September 30, 2025. CEO Commentary "Our markets continue to demonstrate strong demand and abundant sources of funding for infrastructure planning and improvement," said Gary Bowman, founder and CEO of Bowman. "Since our public debut ...

Core Insights - Bowman Consulting Group Ltd. reported strong financial results for Q3 2025, achieving over $500 million in annualized gross revenue for the first time since its public debut [2][6] - The company continues to focus on improving margins and cash flow generation while strategically allocating capital to enhance growth and shareholder value [2][5] Financial Performance - Q3 2025 gross contract revenue reached $126.0 million, an 11% increase from $113.9 million in Q3 2024 [6] - Net service billing for Q3 2025 was $112.1 million, up 11% from $101.4 million in Q3 2024 [6] - Net income for Q3 2025 was $6.6 million, compared to $0.8 million in Q3 2024 [6] - Adjusted EBITDA for Q3 2025 was $18.3 million, a 7.6% increase from $17.0 million in Q3 2024 [6] - For the first nine months of 2025, gross contract revenue was $361.1 million, a 15% increase from $313.3 million in the same period of 2024 [6] - Net income for the first nine months of 2025 was $10.9 million, compared to a net loss of $2.9 million in the first nine months of 2024 [6] Growth Metrics - Organic net service billing growth for Q3 2025 was 6.6%, down from 8.3% in Q3 2024 [6] - For the first nine months of 2025, organic net service billing growth was 10.6%, compared to 5.6% in the same period of 2024 [6] - The gross backlog increased by 17.9% to $447.7 million from $379.8 million year-over-year [6] Acquisitions and Strategic Initiatives - The company made two acquisitions in Q3 2025 to enhance its power and data center practices, expanding its service offerings [2][12] - Bowman Consulting's internal technology incubator, the BIG Fund, is actively generating innovative ideas and proof-of-concept initiatives [5] Guidance - The company reaffirmed its fiscal year 2025 guidance for net revenue between $430 million and $442 million and adjusted EBITDA between $71 million and $77 million [9] - For fiscal year 2026, Bowman expects net revenue between $465 million and $480 million with an adjusted EBITDA margin of 17.0% to 17.5% [9]

Core Insights - Conestoga Capital Advisors reported strong equity market performance in Q3 2025, with the Conestoga Micro-Cap Composite returning 11.7% net-of-fees, while the Russell Microcap Growth Index returned 19.9% [1] Company Overview: Bowman Consulting Group Ltd. (NASDAQ:BWMN) - Bowman Consulting Group Ltd. provides professional services in civil engineering, planning, and surveying for public infrastructure, transportation, utilities, and private real estate markets [3] - The company experienced a one-month return of -1.89%, but its shares increased by 101.69% over the last 52 weeks, closing at $41.73 per share on October 17, 2025, with a market capitalization of $719.873 million [2] Growth Drivers - Infrastructure spending tailwinds have fueled growth in engineering and consulting projects for Bowman Consulting Group Ltd., leading to strong backlog growth [3] - Strategic acquisitions have expanded the company's geographic reach and diversified its service offerings, contributing to margin expansion and improved profitability through scale efficiencies and disciplined cost management [3] - Steady cash generation has alleviated balance sheet concerns, while improved investor sentiment is linked to visibility into long-term infrastructure demand [3] Hedge Fund Interest - Bowman Consulting Group Ltd. was held by 8 hedge fund portfolios at the end of Q2 2025, an increase from 6 in the previous quarter, indicating growing interest among institutional investors [4] - Despite this interest, the company is not listed among the 30 most popular stocks among hedge funds, and there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [4]

Company Overview - Bowman Consulting Group Ltd. is a national engineering services and program management firm headquartered in Reston, Virginia [1] - The company employs 2,500 individuals and operates 100 locations across the United States [1] - Bowman provides a range of services including planning, engineering, geospatial, construction management, commissioning, environmental consulting, and land procurement [1] Upcoming Investor Conferences - Bowman Consulting will participate in the Baird Global Industrial Conference from November 11-13 in Chicago [2] - The company will also attend the Craig-Hallum Alpha Select Conference on November 18 in New York City [2]

Core Insights - Bowman Consulting Group Ltd. has acquired Lazen Power Engineering, enhancing its capabilities in high-voltage transmission line (HVTL) infrastructure and positioning itself to compete in a growing segment of the power industry [1][2][3] Company Overview - Bowman Consulting Group Ltd. is a national engineering services firm with 2,500 employees across 100 locations in the U.S., providing a range of services including planning, engineering, and project management [6] - Lazen Power Engineering, founded in 2014, specializes in overhead transmission line design and project management, delivering services to regional utilities across the U.S. [5] Acquisition Details - The acquisition of Lazen is financed through cash, seller notes, and equity, and is expected to operate at a net service billing run rate of approximately $2.0 million, being immediately accretive [4] - The acquisition aligns with Bowman's strategy to build a comprehensive energy practice focused on various aspects of power-related infrastructure [3] Strategic Implications - The addition of Lazen enhances Bowman's technical expertise in utility design and maintenance, increasing its credentials for master service agreements and competitive bids [2][3] - This acquisition complements Bowman's existing advanced geospatial services and recent acquisitions, expanding its capabilities in energy infrastructure [3] Market Context - There is a growing demand for transmission capacity from utilities, data centers, and renewable developers, necessitating safe and efficient high-voltage networks [4]