NV5 Announces New Goal of $1.6 Billion in Revenues by 2028

Rhea-AI Summary

NV5, a provider of technology, certification, and consulting solutions, announced a new revenue goal of $1.6 billion by 2028. Entering 2025 with a budget exceeding $1 billion in gross revenues, NV5 aims to leverage its strong track record and industry-leading profitability to achieve this target.

Executive Chairman Dickerson Wright emphasized the company's history of meeting ambitious growth targets and its focus on tech-enabled engineering solutions. The company plans to capitalize on technology services and high-margin offerings to drive accelerated organic growth and profitability.

CEO Ben Heraud highlighted that the $1.6 billion revenue target will be driven by organic growth of existing capabilities and investments in strategic acquisitions in tech-based solutions and high-growth sectors. NV5's growth strategy includes delivering unique value to clients through technical excellence, cross-selling initiatives, and technological innovations.

Positive

• NV5 set a new revenue goal of $1.6 billion by 2028, indicating strong growth ambitions.
• The company entered 2025 with a budget exceeding $1 billion in gross revenues.
• NV5 plans to leverage technology services and high-margin offerings to drive growth.

Negative

• None.

HOLLYWOOD, Fla., Jan. 08, 2025 (GLOBE NEWSWIRE) -- NV5, a provider of technology, certification, and consulting solutions, announced today that the company entered 2025 with a budget exceeding $1 billion in gross revenues and has also announced a new goal to reach $1.6 billion in annual revenues by 2028.

Dickerson Wright, PE, Executive Chairman of NV5, said, “NV5 has a proven track record of achieving ambitious growth targets throughout our history. We have achieved this impressive growth while exceeding industry averages for profitability and remaining at the forefront of tech-enabled engineering solutions. Driven by our new leadership and industry tail winds, we look to capitalize on technology services and high-margin offerings to achieve accelerated organic growth and profitability. Today we are announcing a new goal of $1.6 billion in annual revenues by year 2028.”

“As we enter this new phase for NV5, our growth will continue to be driven by entrepreneurial professionals striving to deliver unique value to our clients through technical excellence, cross-selling initiatives, and technological innovations. Our $1.6 billion revenue target by 2028 will be driven by organic growth of our existing capabilities, as well as investments in strategic acquisitions in tech-based solutions and high-growth sectors,” said Ben Heraud, CEO of NV5.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, conformity assessment, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.

Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

Source: NV5 Global, Inc.

FAQ

What is NV5's new revenue goal?

NV5 aims to reach $1.6 billion in annual revenues by 2028.

What was NV5's budget for 2025?

NV5 entered 2025 with a budget exceeding $1 billion in gross revenues.

How does NV5 plan to achieve its $1.6 billion revenue target?

NV5 plans to achieve this target through organic growth, strategic acquisitions in tech-based solutions, and high-margin offerings.

What sectors will NV5 focus on for growth?

NV5 will focus on tech-based solutions and high-growth sectors to drive its revenue target.

Who commented on NV5's growth strategy?

Executive Chairman Dickerson Wright and CEO Ben Heraud commented on NV5's growth strategy.

What is NV5's approach to delivering value to clients?

NV5 aims to deliver unique value through technical excellence, cross-selling initiatives, and technological innovations.