NV5 Global Reports 8.9% Revenue Growth to $251.98 Million in Q2 2025

NV5 Global, Inc. reported a notable increase in financial performance for the second quarter of 2025, with gross revenues reaching $251.98 million, an 8.9% rise from $231.31 million in the same period last year. For the first half of 2025, revenues totaled $486.03 million, up 9.5% from $443.86 million in the first half of 2024. The company's net income also saw significant growth, climbing to $11.69 million for the quarter, compared to $5.39 million in the prior year, and $12.12 million for the six months, up from $5.47 million.

The increase in revenue was attributed to organic growth in various sectors, particularly in geospatial solutions, which contributed $8.25 million, and incremental revenues from acquisitions completed since the second quarter of 2024, amounting to $7.32 million. However, the company faced challenges in its power delivery and utility services, which saw a decline of $3.77 million and $2.84 million, respectively. Operating expenses rose by 9.5% to $121.47 million for the quarter, primarily due to increased payroll costs and general administrative expenses linked to recent acquisitions.

In terms of strategic developments, NV5 Global completed five acquisitions in 2025, with a total purchase price of $14.58 million. This included cash, promissory notes, and common stock, along with potential earn-outs. The company also announced a merger with Acuren Corporation, which was approved by shareholders on July 31, 2025. This merger is expected to enhance NV5's market position, with current stockholders anticipated to own approximately 40% of the combined entity.

Operationally, NV5 Global reported a decrease in cash and cash equivalents to $39.37 million from $50.36 million at the end of December 2024. The company’s total assets slightly decreased to $1.31 billion from $1.32 billion, while total liabilities also fell to $440.77 million from $482.34 million. The company’s employee headcount increased due to acquisitions, contributing to higher payroll expenses. The effective income tax rate for the quarter was 11.2%, up from a negative rate in the previous year, reflecting changes in tax benefits related to stock-based payments.

Looking ahead, NV5 Global expressed confidence in its ability to sustain growth through strategic acquisitions and operational efficiencies. The company anticipates that the merger with Acuren will further bolster its service offerings and market reach, positioning it well for future opportunities in the infrastructure and consulting sectors.