NV5 Global Reports 10.1% Revenue Growth to $234M in Q1 2025

NV5 Global, Inc. reported a 10.1% increase in gross revenues for the first quarter of 2025, reaching $234.0 million compared to $212.6 million in the same period last year. The company's net income also saw a significant rise, totaling $428,000, up from $77,000 in the prior year. This growth in revenue was attributed to both organic increases in various service sectors, including international engineering and consulting, as well as contributions from acquisitions made since the first quarter of 2024.

In terms of operational performance, NV5's gross profit margin remained stable at 52.6%. Direct costs increased, primarily due to higher payroll expenses and sub-consultant services, which were necessary to support the growing demand for the company's services. Operating expenses rose by 10.6% to $118.8 million, driven by increased payroll costs and general administrative expenses, reflecting the company's expansion efforts and the integration of new acquisitions.

During the quarter, NV5 completed three acquisitions for a total purchase price of $9.4 million, which included cash, promissory notes, and common stock. These acquisitions are expected to enhance the company's capabilities in its core markets, which include infrastructure, utility services, and geospatial solutions. The company continues to focus on integrating these new businesses to drive future growth.

As of March 29, 2025, NV5 reported total assets of $1.31 billion, with stockholders' equity increasing to $843.0 million. The company also maintained a strong liquidity position, with cash and cash equivalents amounting to $53.2 million. Looking ahead, NV5 anticipates continued growth driven by its strategic acquisitions and expanding service offerings, while also managing its operational costs effectively to enhance profitability. The company remains committed to leveraging its market position to capture new opportunities in both public and private sectors.