Bowman reports Q2 revenue $82.8M (+33% YoY), net loss $0.6M; raises FY23 guidance

Bowman Consulting Group Ltd.

2023-Q2 EPS reported -$0.01 revenue$158,855,000

Gross revenue $82.8M vs $62.4M YoY; net loss $(0.6)M vs $(0.3)M.
Adjusted EBITDA $11.1M (+46%); net service billing $73.8M (+31%).
Backlog $295M, up 43% YoY; closed 5 acquisitions with ~$36M annualized revenue.
FY23 outlook raised: net service billing $300-$315M, adjusted EBITDA $47-$52M.
Credit facility expanded to $70M from $50M via amendment, term extended to July 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bowman Consulting Group Ltd. updated its the three and six months ended June 30, 2023 guidance (raised).

Period: the three and six months ended June 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On August 7, 2023, Bowman Consulting Group Ltd. (“Bowman” or the “Company) issued a press release announcing its financial results for the second quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001193125-23-205632

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