Bowman Consulting Group Ltd. reported significant financial improvements in its latest quarterly results, with gross contract revenue reaching $122.1 million for the three months ended June 30, 2025, a 16.8% increase from $104.5 million in the same period last year. For the first half of 2025, the company generated $235.0 million in gross contract revenue, up 17.9% from $199.4 million in the prior year. The net income for the second quarter was $6.0 million, a substantial recovery from a net loss of $2.1 million in the same quarter of 2024. For the six-month period, net income was $4.3 million compared to a loss of $3.6 million in 2024.
The company attributed its revenue growth to both organic expansion and acquisitions, with acquisitions contributing approximately $6.5 million to the quarterly revenue increase. The workforce accounted for 88.5% of gross contract revenue in Q2 2025, slightly down from 90.0% in Q2 2024. The company’s Adjusted EBITDA also saw a notable rise, increasing 50.6% to $20.2 million in Q2 2025, compared to $13.4 million in the same quarter last year.
Bowman Consulting has been active in expanding its operations through acquisitions, completing two acquisitions in the first half of 2025 for a total consideration of $3.6 million. The company also finalized the acquisition of Surdex Corporation in April 2024, which has contributed to its revenue growth. As of June 30, 2025, the company reported a backlog of $438.2 million, reflecting a 9.8% increase from $399.0 million at the end of 2024, indicating a strong pipeline for future revenue.
Operationally, Bowman Consulting has increased its employee headcount to support its growth strategy, with direct payroll costs rising to $42.4 million in Q2 2025, up from $39.1 million in Q2 2024. The company continues to focus on diversifying its revenue streams across various sectors, including building infrastructure, transportation, power and utilities, and natural resources. The company’s strategic initiatives aim to enhance its market presence and capitalize on opportunities in sectors with high growth potential.
Looking ahead, Bowman Consulting remains optimistic about its growth trajectory, supported by a robust backlog and ongoing investments in acquisitions and workforce expansion. The company is well-positioned to leverage its recent acquisitions and capitalize on favorable market conditions to drive future revenue growth.
About Bowman Consulting Group Ltd.
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