Record-Breaking Revenue Milestone
Bowman Consulting surpassed a $500 million annualized gross revenue pace, marking a significant achievement ahead of schedule.
Strong Year-Over-Year Growth
The company reported 11% year-over-year growth in both gross and net revenue, and a 7.6% growth in adjusted EBITDA.
Significant Backlog Increase
The backlog grew nearly 18% year-over-year to $448 million, indicating strong demand across end markets.
Improved Profitability
GAAP net income increased dramatically to $6.6 million for the quarter, compared to $800,000 in the same period last year.
Expansion in Power, Utilities & Energy
This division was the fastest-growing market, up 38% year-over-year, driven by national investment in electrification and renewables.
Cash Flow and Balance Sheet Strength
Operating cash flow more than doubled to $26.5 million, and the company expanded its revolver to $210 million, providing liquidity for growth.