鲍姆咨询集团有限公司2025年季度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Table of Contents PART I.FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as ofMarch31, 2025and December 31, 2024Condensed Consolidated Statements of Operations for the threemonths endedMarch31, 2025andMarch31,2024Condensed Consolidated Statements of Comprehensive Income(Loss)for the threemonths endedMarch31,2025andMarch31, 2024 Condensed Consolidated Statements of Shareholders’ Equity for the threemonths endedMarch31, 2025andMarch31, 2024 Table of Contents BOWMAN CONSULTING GROUP LTD.CONDENSED CONSOLIDATED INCOME STATEMENTS(Amounts in thousands except per share data) BOWMAN CONSULTING GROUP LTD.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(Amounts in thousands) BOWMAN CONSULTING GROUP LTD.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1.Nature of Business and Basis of Presentation Nature of Business Bowman Consulting Group Ltd. (along with its consolidated subsidiaries, “Bowman” or “we” or the “Company”) was incorporated inthe Commonwealth of Virginia on June 5, 1995 and reincorporated in the State of Delaware on November 13, 2020. The Company’sheadquarters is located in Reston, VA and the Company has over100offices throughout the United States andtwooffices in Mexico.Bowman is a professional services firm delivering innovative solutions to the marketplace of customers who own, develop and maintain thebuilt environment. Within that arena, we provide planning, design, engineering, geospatial, survey, construction management, environmentalconsulting and land procurement services to markets that encompass the buildings in which people live, work and learn in; as well as the The Company’s workforce typically provides the full scope of engineering and other contract services. However, with respect tocertain specialty services or other compliance requirements within a particular contract, we may engage third-party sub-consultants. Common Stock Offering On April 1, 2024, the Company closed on an offering of common stock in which it issued and sold1,323,530shares at an offeringprice of $34.00per share, resulting in net proceeds of $41.5million after deducting underwriting discounts and commissions, but before On April 1, 2024, the underwriters exercised their option to purchase an additional179,412shares of the Company’s common stock atan offering price of $34.00per share, resulting in additional gross proceeds of approximately $6.1million. After giving effect to thisexercise of the overallotment option, the total number of shares sold by the Company in this common stock offering increased to1,502,942 Deferred offering costs consist primarily of accounting, legal and other fees associated with the common stock offering, and werenetted against the proceeds.Nodeferred offering costs were capitalized in the condensed consolidated balance sheet as of March31, 2025. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and footnotes of the Company have been prepared inaccordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable regulations of theSecurities and Exchange Commission (“SEC”) regarding interim financial information. In the opinion of management, the interim financial The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financialstatements and related footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December31, 2024 filed The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly ownedsubsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Table of Contents 2.Significant Accounting Policies The following is a summary of the significant accounting policies and principles used in the preparation of the condensed consolidatedfinancial statements: Emerging Growth Company Section 102(b)(1) of the Jumpstart Our Business Startups Act (“JOBS Act”) exempts emerging growth companies (“EGC”) from beingrequired to comply with new or revised financial accounting standards until private companies (that is, those that have not had a SecuritiesAct registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, asamended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides thata company can elect to opt out of the extended transition period and comply w