Bowman Consulting Group Announces Third Quarter 2021 Financial Results
“The third quarter was the highest revenue quarter in company history, as we continue to experience strong demand across our end markets,” said
Financial highlights of the three months ended
-
Gross revenue of
, a year-over-year increase of$39.7 million 25% -
Net service billing1 of
, a year-over-year increase of$35.7 million 41% -
Adjusted EBITDA1 of
$4.4 million -
Adjusted EBITDA margin, net 1 of
12.4% -
Net income of
$0.4 million -
Acquired revenue accounted for
, or$2.3 million 6% , of gross revenue -
Backlog1 of
, an increase of$139 million 13% fromJune 30, 2021
Financial highlights of the nine months ended
-
Gross revenue of
, a year-over-year increase of$108.0 million 17% -
Net service billing1 of
, a year-over-year increase of$97.1 million 26% -
Adjusted EBITDA1 of
, a year-over-year increase of$12.7 million 20% -
Adjusted EBITDA margin, net 1 of
13.1% -
Net income of
$0.9 million -
Acquired revenue accounted for
, or$6.8 million 6% of gross revenue
Other Recent Business Highlights:
-
Closed on the acquisition of Triangle Site Design in
Raleigh, NC onOctober 1, 2021 -
Closed on the acquisition of PCD Engineering in
Denver, CO onOctober 8, 2021 -
Closed on the acquisition of BTM Engineering in
Louisville, KY onOctober 15, 2021
Year-End Guidance:
The Company is increasing its full year 2021 outlook for Net Service Billing to be in the range of
“We are updating our outlook for 2021 in part as a result of acquisitions closed since our last earnings call,” said
-----------------------
1 Non-GAAP financial metrics the Company believes offer valuable perspective on results of operations. See Non-GAAP tables below for reconciliations.
Q3 2021 Earnings Webcast
Bowman will host an earnings webcast to discuss the results of the quarter as follows:
Date: |
|
|
Time: |
|
|
Hosts: |
|
|
Where: |
About
Headquartered in
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, business strategy and plans and objectives for future operations, are forward-looking statements and represent our views as of the date of this press release. The words “anticipate,” believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to several assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. These risks and uncertainties are detailed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 424B4 dated
Non-GAAP Financial Measures and Other Key Metrics
We supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, with certain non-GAAP financial measures, as described below, to help represent, explain, and understand our operating performance. These non-GAAP financial measures may be different than similarly referenced measures used by other companies. The non-GAAP measures are intended to enhance investors’ overall understanding and evaluation of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We present these non-GAAP financial measures to assist investors in seeing our financial performance in a manner more aligned with management’s view and believe these measures provide additional tools by which investors can evaluate our core financial performance over multiple periods relative to other companies in our industry. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release.
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Amounts in thousands except per share data)
(Unaudited)
|
|
For the Three Months
Ended |
|
|
For the Nine Months
Ended |
|
||||||||||
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
||||
Gross Contract Revenue |
|
$ |
39,715 |
|
|
$ |
31,766 |
|
|
$ |
108,041 |
|
|
$ |
92,126 |
|
Contract costs: (exclusive of depreciation and amortization below) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct payroll costs |
|
|
15,531 |
|
|
|
13,035 |
|
|
|
42,873 |
|
|
|
36,768 |
|
Sub-consultants and expenses |
|
|
3,967 |
|
|
|
6,354 |
|
|
|
10,967 |
|
|
|
14,814 |
|
Total contract costs |
|
|
19,498 |
|
|
|
19,389 |
|
|
|
53,840 |
|
|
|
51,582 |
|
Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
|
18,373 |
|
|
|
14,425 |
|
|
|
48,328 |
|
|
|
38,555 |
|
Depreciation and amortization |
|
|
1,598 |
|
|
|
311 |
|
|
|
4,506 |
|
|
|
952 |
|
(Gain) loss on sale |
|
|
(46 |
) |
|
|
(30 |
) |
|
|
(99 |
) |
|
|
(45 |
) |
Total operating expenses |
|
|
19,925 |
|
|
|
14,706 |
|
|
|
52,735 |
|
|
|
39,462 |
|
Income (loss) from operations |
|
|
292 |
|
|
|
(2,329 |
) |
|
|
1,466 |
|
|
|
1,082 |
|
Other (income) expense |
|
|
314 |
|
|
|
(102 |
) |
|
|
706 |
|
|
|
(179 |
) |
Income (loss) before tax expense |
|
|
(22) |
|
|
|
(2,227 |
) |
|
|
760 |
|
|
|
1,261 |
|
Income tax (benefit) expense |
|
|
(379 |
) |
|
|
(979 |
) |
|
|
(139 |
) |
|
|
467 |
|
Net income (loss) |
|
$ |
357 |
|
|
$ |
(1,248 |
) |
|
$ |
899 |
|
|
$ |
794 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings allocated to non-vested shares |
|
|
71 |
|
|
|
- |
|
|
|
165 |
|
|
|
41 |
|
Net income (loss) attributable to common shareholders |
|
$ |
286 |
|
|
$ |
(1,248 |
) |
|
$ |
734 |
|
|
$ |
753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.03 |
|
|
$ |
(0.22 |
) |
|
$ |
0.10 |
|
|
$ |
0.14 |
|
Diluted |
|
$ |
0.03 |
|
|
$ |
(0.22 |
) |
|
$ |
0.10 |
|
|
$ |
0.13 |
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
8,920,505 |
|
|
|
5,567,523 |
|
|
|
7,003,462 |
|
|
|
5,569,177 |
|
Diluted |
|
|
8,935,274 |
|
|
|
5,567,523 |
|
|
|
7,008,440 |
|
|
|
5,604,804 |
|
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands except per share data)
|
|
|
|
|
|
|
|
|
2021 |
|
|
2020 |
|
||
|
(unaudited) |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
|
Cash and equivalents |
$ |
38,745 |
|
|
$ |
386 |
|
Accounts Receivable, net |
|
34,964 |
|
|
|
24,183 |
|
Contract assets |
|
8,668 |
|
|
|
7,080 |
|
Notes receivable - officers, employees, affiliates, current portion |
|
1,120 |
|
|
|
1,182 |
|
Prepaid and other current assets |
|
3,858 |
|
|
|
2,271 |
|
Total current assets |
|
87,355 |
|
|
|
35,102 |
|
Non-Current Assets |
|
|
|
|
|
|
|
Property and equipment, net |
|
17,864 |
|
|
|
15,357 |
|
|
|
13,484 |
|
|
|
9,179 |
|
Notes receivable |
|
903 |
|
|
|
903 |
|
Notes receivable - officers, employees, affiliates, less current portion |
|
1,273 |
|
|
|
1,297 |
|
Other intangible assets, net |
|
2,789 |
|
|
|
1,131 |
|
Other assets |
|
687 |
|
|
|
669 |
|
Total Assets |
$ |
124,355 |
|
|
$ |
63,638 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
|
Bank line of credit |
|
- |
|
|
|
3,481 |
|
Accounts payable and accrued liabilities, current portion |
|
18,634 |
|
|
|
12,203 |
|
Contract liabilities |
|
2,558 |
|
|
|
1,943 |
|
Notes payable, current portion |
|
2,222 |
|
|
|
1,592 |
|
Deferred rent, current portion |
|
674 |
|
|
|
619 |
|
Capital lease obligation, current portion |
|
4,625 |
|
|
|
3,495 |
|
Total current liabilities |
|
28,713 |
|
|
|
23,333 |
|
Non-Current Liabilities |
|
|
|
|
|
|
|
Other non-current obligations |
|
1,243 |
|
|
|
1,244 |
|
Notes payable, less current portion |
|
4,377 |
|
|
|
2,829 |
|
Deferred rent, less current portion |
|
4,217 |
|
|
|
4,278 |
|
Capital lease obligation, less current portion |
|
8,855 |
|
|
|
7,503 |
|
Deferred tax liability, net |
|
5,133 |
|
|
|
6,472 |
|
Common shares subject to repurchase |
|
7 |
|
|
|
842 |
|
Total liabilities |
$ |
52,545 |
|
|
$ |
46,501 |
|
Shareholders' Equity |
|
|
|
|
|
|
|
Preferred Stock, |
|
- |
|
|
|
- |
|
Common stock, |
|
134 |
|
|
|
2 |
|
Additional paid-in-capital |
|
113,531 |
|
|
|
58,866 |
|
Treasury Stock, at cost; 2,188,415 and 2,095,650, respectively |
|
(17,215 |
) |
|
|
(16,022 |
) |
Stock subscription notes receivable |
|
(439 |
) |
|
|
(609 |
) |
Accumulated deficit |
|
(24,201 |
) |
|
|
(25,100 |
) |
Total shareholders' equity |
$ |
71,810 |
|
|
$ |
17,137 |
|
TOTAL LIABILITIES AND EQUITY |
$ |
124,355 |
|
|
$ |
63,638 |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
|
|
For the Nine Months Ended
|
|
|||||
|
|
2021 |
|
|
2020 |
|
||
Cash Flows from Operating Activities: |
|
|
|
|
|
|
|
|
Net Income |
|
$ |
899 |
|
|
$ |
794 |
|
Adjustments to reconcile net income to net cash provided by operating activities |
|
|
|
|
|
|
|
|
Depreciation and amortization - property, plant and equipment |
|
|
4,283 |
|
|
|
762 |
|
Amortization of intangible assets |
|
|
223 |
|
|
|
190 |
|
Gain on sale of assets |
|
|
(99 |
) |
|
|
(45 |
) |
Bad debt |
|
|
266 |
|
|
|
2,507 |
|
Stock based compensation |
|
|
5,341 |
|
|
|
4,055 |
|
Deferred taxes |
|
|
(1,340 |
) |
|
|
297 |
|
Deferred rent |
|
|
(6 |
) |
|
|
562 |
|
Changes in operating assets and liabilities |
|
|
|
|
|
|
|
|
Accounts Receivable |
|
|
(10,015 |
) |
|
|
369 |
|
Contract Assets |
|
|
(961 |
) |
|
|
4,179 |
|
Prepaid expenses |
|
|
(430 |
) |
|
|
702 |
|
Other Assets |
|
|
(1,032 |
) |
|
|
(285 |
) |
Accounts payable and accrued expenses |
|
|
6,132 |
|
|
|
819 |
|
Contract Liabilities |
|
|
(31 |
) |
|
|
(5,977 |
) |
Net cash provided by operating activities |
|
|
3,230 |
|
|
|
8,929 |
|
Cash Flows from Investing Activities: |
|
|
|
|
|
|
|
|
Purchases of property and equipment |
|
|
(609 |
) |
|
|
(930 |
) |
Proceeds from sale of assets |
|
|
100 |
|
|
|
45 |
|
Amounts advanced under loans to shareholders |
|
|
(473 |
) |
|
|
(878 |
) |
Payments received under loans to shareholders |
|
|
88 |
|
|
|
195 |
|
Amounts advanced under notes receivable |
|
|
- |
|
|
|
(414 |
) |
Payments received under notes receivable |
|
|
- |
|
|
|
4 |
|
Acquisitions of businesses, net of cash acquired |
|
|
(3,000 |
) |
|
|
- |
|
Collections under stock subscription notes receivable |
|
|
170 |
|
|
|
144 |
|
Net cash used in investing activities |
|
|
(3,724 |
) |
|
|
(1,834 |
) |
Cash Flows from Financing Activities: |
|
|
|
|
|
|
|
|
Proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs |
|
|
47,104 |
|
|
|
- |
|
Net payments under revolving line of credit |
|
|
(3,481 |
) |
|
|
(5,717 |
) |
Repayments under fixed line of credit |
|
|
(540 |
) |
|
|
(306 |
) |
Borrowings under fixed line of credit |
|
|
- |
|
|
|
1,985 |
|
Repayment under notes payable |
|
|
(735 |
) |
|
|
(1,496 |
) |
Payments on capital leases |
|
|
(3,208 |
) |
|
|
(189 |
) |
Payment of contingent consideration from acquisitions |
|
|
(2 |
) |
|
|
(104 |
) |
Payments for purchase of treasury stock |
|
|
(582 |
) |
|
|
(1,261 |
) |
Proceeds from issuance of common stock |
|
|
297 |
|
|
|
45 |
|
Net cash provided by (used in) financing activities |
|
|
38,853 |
|
|
|
(7,043 |
) |
Net increase in cash and cash equivalents |
|
|
38,359 |
|
|
|
52 |
|
Cash and cash equivalents, beginning of period |
|
|
386 |
|
|
|
509 |
|
Cash and cash equivalents, end of period |
|
$ |
38,745 |
|
|
$ |
561 |
|
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Amounts in thousands except per share data)
(Unaudited)
|
|
For the Three Months Ended |
|
|
|||||
|
|
2021 |
|
|
2020 |
|
|
||
Gross revenue |
|
$ |
39,715 |
|
|
$ |
31,766 |
|
|
Less: sub-consultants and other direct expenses |
|
|
3,967 |
|
|
|
6,354 |
|
|
Net services billing |
|
$ |
35,748 |
|
|
$ |
25,412 |
|
|
|
|
For the Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
2021 |
|
|
2020 |
|
|
|
$ Change |
|
|
% Change |
|
|
||||
Net Income |
|
$ |
357 |
|
|
$ |
(1,248 |
) |
|
|
$ |
1,605 |
|
|
|
(128.6 |
%) |
|
+ interest expense |
|
|
216 |
|
|
|
118 |
|
|
|
|
98 |
|
|
|
83.1 |
% |
|
+ depreciation & amortization |
|
|
1,598 |
|
|
|
311 |
|
|
|
|
1,287 |
|
|
|
413.5 |
% |
|
+ tax expense |
|
|
(379 |
) |
|
|
(979 |
) |
|
|
|
600 |
|
|
|
(61.3 |
%) |
|
EBITDA |
|
$ |
1,792 |
|
|
$ |
(1,798 |
) |
|
|
$ |
3,590 |
|
|
|
(199.6 |
%) |
|
+ non-recurring operating lease rent |
|
|
- |
|
|
|
641 |
|
|
|
|
(641 |
) |
|
|
(100.0 |
%) |
|
+ non-cash stock compensation |
|
|
2,634 |
|
|
|
3,546 |
|
|
|
|
(912 |
) |
|
|
(25.7 |
%) |
|
+ transaction related expenses |
|
|
- |
|
|
|
- |
|
|
|
|
- |
|
|
|
0.0 |
% |
|
+ settlements and other non-core expenses |
|
|
- |
|
|
|
1,461 |
|
|
|
|
(1,461 |
) |
|
|
(100.0 |
%) |
|
Adjusted EBITDA |
|
$ |
4,426 |
|
|
$ |
3,850 |
|
|
|
$ |
576 |
|
|
|
15.0 |
% |
|
Adjusted EBITDA margin, net |
|
|
12.4 |
% |
|
|
15.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
For the Nine Months Ended |
|
|||||
|
|
2021 |
|
|
2020 |
|
||
Gross revenue |
|
$ |
108,041 |
|
|
$ |
92,126 |
|
Less: sub-consultants and other direct expenses |
|
|
10,967 |
|
|
|
14,814 |
|
Net services billing |
|
$ |
97,074 |
|
|
$ |
77,312 |
|
|
|
|
For the Nine Months Ended |
|
|
|
|
|
|
|
|
|
|||||
|
|
|
2021 |
|
|
2020 |
|
|
$ Change |
|
|
% Change |
|
||||
Net Income |
|
|
$ |
899 |
|
|
$ |
794 |
|
|
$ |
105 |
|
|
|
13.2 |
% |
+ interest expense |
|
|
|
650 |
|
|
|
367 |
|
|
|
283 |
|
|
|
77.2 |
% |
+ depreciation & amortization |
|
|
|
4,506 |
|
|
|
952 |
|
|
|
3,554 |
|
|
|
373.4 |
% |
+ tax expense |
|
|
|
(139 |
) |
|
|
467 |
|
|
|
(606 |
) |
|
|
(129.8 |
%) |
EBITDA |
|
|
$ |
5,916 |
|
|
$ |
2,580 |
|
|
$ |
3,336 |
|
|
|
129.3 |
% |
+ non-recurring operating lease rent |
|
|
|
- |
|
|
|
2,430 |
|
|
|
(2,430 |
) |
|
|
(100.0 |
%) |
+ non-cash stock compensation |
|
|
|
5,341 |
|
|
|
4,082 |
|
|
|
1,259 |
|
|
|
30.9 |
% |
+ transaction related expenses |
|
|
|
1,440 |
|
|
|
- |
|
|
|
1,440 |
|
|
|
100.0 |
% |
+ settlements and other non-core expenses |
|
|
|
- |
|
|
|
1,461 |
|
|
|
(1,461 |
) |
|
|
(100.0 |
%) |
Adjusted EBITDA |
|
|
$ |
12,697 |
|
|
$ |
10,553 |
|
|
$ |
2,144 |
|
|
|
20.3 |
% |
Adjusted EBITDA margin, net |
|
|
|
13.1 |
% |
|
|
13.6 |
% |
|
|
|
|
|
|
|
|
Backlog |
|
|
|
|
|
|
||
Building Infrastructure 1 |
|
|
53 |
% |
|
|
43 |
% |
Transportation |
|
|
21 |
% |
|
|
28 |
% |
Power & Utilities |
|
|
22 |
% |
|
|
25 |
% |
Other Emerging Markets |
|
|
4 |
% |
|
|
4 |
% |
|
|
|
|
|
|
|
|
|
1 formerly referred to as Communities, homes & buildings |
|
|
|
|
|
|
|
|
GROSS CONTRACT REVENUE COMPOSITION
(Amounts in thousands)
(Unaudited)
|
|
For the Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Consolidated Gross Contract Revenue |
|
2021 |
|
|
%GCR |
|
|
2020 |
|
|
%GCR |
|
|
Change |
|
|
% Change |
|
|
||||||
Building Infrastructure 1 |
|
$ |
28,303 |
|
|
|
71.3 |
% |
|
$ |
20,183 |
|
|
|
63.5 |
% |
|
$ |
8,120 |
|
|
|
40.2 |
% |
|
Transportation |
|
|
4,033 |
|
|
|
10.2 |
% |
|
|
5,929 |
|
|
|
18.7 |
% |
|
|
(1,896 |
) |
|
|
(32.0 |
%) |
|
Power & Utilities |
|
|
6,295 |
|
|
|
15.8 |
% |
|
|
4,943 |
|
|
|
15.6 |
% |
|
|
1,352 |
|
|
|
27.4 |
% |
|
Other emerging markets 2 |
|
|
1,084 |
|
|
|
2.7 |
% |
|
|
711 |
|
|
|
2.2 |
% |
|
|
373 |
|
|
|
52.5 |
% |
|
Total: |
|
$ |
39,715 |
|
|
|
100.0 |
% |
|
$ |
31,766 |
|
|
|
100.0 |
% |
|
$ |
7,949 |
|
|
|
25.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Organic |
|
$ |
37,380 |
|
|
|
94.1 |
% |
|
$ |
31,766 |
|
|
|
100.0 |
% |
|
$ |
5,614 |
|
|
|
17.7 |
% |
|
Acquired |
|
|
2,335 |
|
|
|
5.9 |
% |
|
|
- |
|
|
|
0.0 |
% |
|
|
2,335 |
|
|
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Nine Months Ended |
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Consolidated Gross Contract Revenue |
|
2021 |
|
|
%GCR |
|
|
2020 |
|
|
%GCR |
|
|
Change |
|
|
% Change |
|
|
||||||
Building Infrastructure 1 |
|
$ |
74,511 |
|
|
|
69.0 |
% |
|
$ |
56,191 |
|
|
|
61.0 |
% |
|
$ |
18,320 |
|
|
|
32.6 |
% |
|
Transportation |
|
|
12,344 |
|
|
|
11.4 |
% |
|
|
16,217 |
|
|
|
17.6 |
% |
|
|
(3,873 |
) |
|
|
(23.9 |
%) |
|
Power & Utilities |
|
|
17,524 |
|
|
|
16.2 |
% |
|
|
16,133 |
|
|
|
17.5 |
% |
|
|
1,391 |
|
|
|
8.6 |
% |
|
Other emerging markets 2 |
|
|
3,662 |
|
|
|
3.4 |
% |
|
|
3,585 |
|
|
|
3.9 |
% |
|
|
77 |
|
|
|
2.1 |
% |
|
Total: |
|
$ |
108,041 |
|
|
|
100.0 |
% |
|
$ |
92,126 |
|
|
|
100.0 |
% |
|
$ |
15,915 |
|
|
|
17.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Organic |
|
$ |
101,216 |
|
|
|
93.7 |
% |
|
$ |
92,126 |
|
|
|
100.0 |
% |
|
$ |
9,090 |
|
|
|
9.9 |
% |
|
Acquired |
|
|
6,825 |
|
|
|
6.3 |
% |
|
|
- |
|
|
|
0.0 |
% |
|
|
6,825 |
|
|
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 formerly referred to as Communities, homes & buildings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 represents renewable energy, mining, water resources and other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20211110006262/en/
Investor Relations
ir@bowman.com
(703) 787-3403
Source: