Bowman Consulting Group Ltd. reported a gross contract revenue of $126.5 million for the first quarter of 2026, marking a 12% increase from $112.9 million in the same period last year. The company's net loss for the quarter was $3.7 million, compared to a loss of $1.7 million in the prior year. The increase in revenue was attributed to a combination of organic growth and contributions from recent acquisitions, which accounted for approximately $8.6 million of the revenue increase. The company's Adjusted EBITDA also rose to $16.8 million, reflecting a 15.8% increase from $14.5 million in the previous year.
In terms of operational metrics, Bowman Consulting's direct payroll costs increased by 15% to $48.3 million, driven by higher revenue and an expanded workforce. The total contract costs, excluding depreciation and amortization, rose to $60.6 million, representing 47.9% of total contract revenue. The company reported a significant increase in its backlog, which grew by 36.2% to $652.7 million, indicating strong future revenue potential. The backlog was diversified across various sectors, with notable contributions from building infrastructure, transportation, and power utilities.
Strategically, Bowman Consulting has been active in expanding its market presence through acquisitions. In 2025, the company completed seven acquisitions, including RPT Alliance, which contributed to the revenue growth in the current quarter. The company continues to pursue additional acquisition opportunities as part of its growth strategy, utilizing a mix of cash, bank financing, and equity to fund these transactions. As of March 31, 2026, the company had $250 million in aggregate revolving commitments under its credit agreement, reflecting a strong liquidity position.
The company’s operational focus remains on enhancing efficiency through technology and automation, particularly in areas such as regulatory compliance and project management. Bowman Consulting aims to leverage advancements in AI and automation to improve service delivery and meet increasing customer demands. Looking ahead, the company anticipates continued growth driven by its strategic initiatives and a favorable market environment, particularly in infrastructure and energy sectors.
About Bowman Consulting Group Ltd.
Bowman Consulting Group Ltd. is a professional services firm specializing in engineering, technology, and program management for the built environment. It offers planning, design, construction management, environmental consulting, surveying, and land procurement across diverse markets including transportation, utilities, renewable energy, building infrastructure, water resources, and mining. Serving public and private clients, Bowman leverages technology and a broad geographic footprint to deliver integrated, multi-year projects with a focus on recurring revenue and operational excellence.
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