Bowman(US:BWMN)2025-08-07 13:00Financial Performance - Gross Contract Revenue increased by 17% year-over-year, reaching $122.1 million in Q2 2025 compared to $104.5 million in Q2 2024 [11, 12] - Net Service Billing grew by 15% year-over-year, amounting to $108.0 million in Q2 2025 versus $94.0 million in Q2 2024 [11, 12] - Adjusted EBITDA saw a significant increase of 51% year-over-year, reaching $20.2 million in Q2 2025 compared to $13.4 million in Q2 2024 [11, 12] - Adjusted EBITDA Margin improved to 18.7% in Q2 2025, a 440 basis point increase from 14.3% in Q2 2024 [11, 12] - Net Income increased by 386%, reaching $6.0 million in Q2 2025 compared to a loss of $2.1 million in Q2 2024 [12] - Organic Net Service Billing grew by 8.4% year-over-year [11] Backlog and Capital Allocation - Gross Backlog increased by 25% year-over-year, reaching $438 million in Q2 2025 compared to $351 million in Q2 2024 [11, 19] - The company repurchased $6.7 million of common stock in Q2 and has a remaining $25 million repurchase plan approved [22] - The company established a $25 million Bowman Innovative Growth Fund (BIG Fund) [22] Guidance - The company raised its FY 2025 Net Revenue guidance to $430 - $442 million and Adjusted EBITDA guidance to $71 - $77 million [31]