Bowman Q2 revenue $104.5M (+26% YoY), net loss widens to $2.0M, adjusts FY2024 guidance

Bowman Consulting Group Ltd.

2024-Q2 EPS reported -$0.24 revenue$199,409,000

Net loss of $2.0M ($0.03 basic adjusted EPS loss) vs $0.6M loss in prior year.
Adjusted EBITDA $13.4M (+21% YoY); margin fell 70 bps to 14.3%.
Gross backlog $352M (+19% YoY); organic net service billing growth 6%.
FY2024 guidance: net service billing $375-385M, adjusted EBITDA $58-63M.
Closed $51M equity offering, new $100M revolver, and three Q2 acquisitions (Surdex, Moore, Element post-quarter).

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