Bowman FY23 revenue up 32% to $346.3M, net loss $6.6M vs income $5.0M; guides FY24 NSB $363-$378M

Bowman Consulting Group Ltd.

Full-year gross revenue $346.3M (+32% YoY); net service billing $304.0M (+29% YoY).
Net loss of $6.6M vs net income of $5.0M in FY22; Q4 net loss $7.7M vs income $0.5M.
Adjusted EBITDA $47.0M (+38% YoY); margin 15.5%, up 100 bps. Q4 adjusted EBITDA $11.2M (+19%).
FY24 guidance: net service billing $363-$378M, adjusted EBITDA $59-$65M.
Completed 11 acquisitions in 2023 (~$60M annualized billing); new $10M stock repurchase authorized.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Bowman Consulting Group Ltd. reported twelve months ended December 31, 2023 results: EPS Basic Adjusted EPS was $1.12 compared to $1.46.

Period: twelve months ended December 31, 2023
EPS: Basic Adjusted EPS was $1.12 compared to $1.46
Result: reported results

Exact text from the filing

For the twelve months ended December 31, 2023, compared to December 31, 2022: • Basic Adjusted EPS was $1.12 compared to $1.46

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Bowman Consulting Group Ltd. reported fiscal year ended December 31, 2023 results: revenue Gross contract revenue of $346.3 million, net income Net loss of $6.6 million.

Period: fiscal year ended December 31, 2023
Revenue: Gross contract revenue of $346.3 million
Net income: Net loss of $6.6 million
Result: reported results

Exact text from the filing

• Gross backlog 2 of $306 million, compared to $243 million, a 26% increase Financial highlights for fiscal year 2023, compared to fiscal year 2022: • Gross contract revenue of $346.3 million, compared to $261.7 million, a 32% increase • Year-over-year organic gross contract revenue growth 1 of 21% • Net service billing 2 of $304.0 million, compared to $235.2 million,

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Source: SEC EDGAR

accession 0001193125-24-065430

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