Bowman Consulting Group Ltd. reported a significant increase in financial performance for the fiscal year ending December 31, 2025, with gross contract revenue reaching $490.0 million, a 14.9% increase from $426.6 million in 2024. The company's net income also saw a substantial rise, climbing to $12.8 million from $3.0 million in the previous year. Adjusted EBITDA, a non-GAAP measure, increased by 22.4% to $72.9 million, reflecting the company's strong operational efficiency and growth strategies. The increase in revenue was attributed to both organic growth and acquisitions, with acquisitions contributing approximately $8.7 million to the revenue increase.
In terms of operational developments, Bowman Consulting's backlog grew by 20.1% to approximately $479 million, indicating a robust pipeline of future work. The company reported that 73% of its revenue in 2025 came from repeat customers, highlighting strong client retention and satisfaction. The workforce expanded to over 2,300 employees, supporting the execution of approximately 10,000 active projects across more than 135 locations in the U.S. and four offices in Mexico. The company also emphasized its commitment to technological innovation, launching the Bowman Innovation Growth Fund with a $25 million investment to foster new ideas from its workforce.
Strategically, Bowman Consulting completed seven acquisitions in 2025, enhancing its service offerings and geographic reach. Notable acquisitions included UP Engineering and E3i Engineers, which expanded the company's capabilities in civil engineering and energy infrastructure. The company aims to continue its growth trajectory through both organic initiatives and strategic acquisitions, focusing on markets with strong secular growth characteristics, such as power distribution and renewable energy.
Looking ahead, Bowman Consulting expressed confidence in maintaining significant organic growth and improving margin profiles, supported by a strong backlog and a consistent book-to-bill ratio of greater than 1.0. The company plans to leverage its diversified service offerings and geographic presence to capitalize on emerging opportunities in the engineering services market, which is projected to grow significantly in the coming years. However, the company also acknowledged potential risks, including economic downturns and regulatory changes, which could impact demand for its services.
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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