Bowman Consulting Group Ltd 2025年季度报告

FORM 10-Q_____________________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 Commission File Number: 001-40371 BOWMAN CONSULTING GROUP LTD. (Exact Name of Registrant as Specified in its Charter)_____________________________________________ 54-1762351 Delaware (State or other jurisdiction ofincorporation or organization) (I.R.S. EmployerIdentification No.) Registrant’s telephone number, including area code: (703) 464-1000_____________________________________________ Name of each exchange on which registered The Nasdaq Global Market Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required tofile such reports), and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). YesNo 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 growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No As of May 2, 2025, the registrant had 17,233,069 shares of common stock outstanding. Table of Contents Table of Contents PART I.FINANCIAL INFORMATION1Item 1.Financial Statements (Unaudited)1Condensed Consolidated Balance Sheets as of March31, 2025and December 31, 20242Condensed Consolidated Statements of Operations for the three months ended March31,2025and March31, 20243Condensed Consolidated Statements of Comprehensive Income(Loss)for the three monthsended March31, 2025and March31, 20244Condensed Consolidated Statements of Shareholders’ Equity for the three months endedMarch31, 2025and March31, 20245Condensed Consolidated Statements of Cash Flows for the threemonths ended March31,2025and March31, 20246Notes to Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations29Item 3.Quantitative and Qualitative Disclosures About Market Risk40Item 4.Controls and Procedures40PART II.OTHER INFORMATION42Item 1.Legal Proceedings42Item 1A.Risk Factors42Item 2.Unregistered Sales of Equity Securities and Use of Proceeds42Item 3.Defaults Upon Senior Securities43Item 4.Mine Safety Disclosures43Item 5.Other Information43Item 6.Exhibits44Signatures45i PART I—FINANCIAL INFORMATION BOWMAN CONSULTING GROUP LTD.CONDENSED CONSOLIDATED INCOME STATEMENTS(Amounts in thousands except per share data)(Unaudited) The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.4 Table of Contents BOWMAN CONSULTING GROUP LTD.CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITYFor the Three Months Ended March 31, 2025 and 2024(Amounts in thousands except per share data)(Unaudited) The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.5 Table of Contents BOWMAN CONSULTING GROUP LTD.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in thousands)(Unaudited) BOWMAN CONSULTING GROUP LTD.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 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 in the Commonwealth of Virginia on June 5, 1995 and reincorporated in the State ofDelaware on November 13, 2020. The Company’s headquarters is located in Reston, VA and the Company has over100 offices throughout the United States and two offices in Mexico. Bowman is a professional services firmdelivering innovative solutions to the marketplace of customers who own, develop and maintain the builtenvironment.Within that arena,we provide planning,design,engineering,geospatial,survey,c