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Dec 31, 2021
Bowman Q4 2021 Earnings Report
Bowman reported a strong finish to the year, generating record revenue and growing gross backlog.
Key Takeaways
Bowman Consulting Group announced Q4 2021 financial results, featuring a 40% year-over-year increase in gross revenue and a 44% increase in net service billing. The company closed six acquisitions during the quarter, contributing to revenue synergies and economies of scale. Bowman is increasing its full year 2022 outlook for Net Service Billing and Adjusted EBITDA.
Gross revenue increased 40% year-over-year.
Net service billing increased 44% year-over-year.
Gross backlog increased 48% year-over-year.
Six acquisitions were completed during the quarter.
Bowman
Bowman
Bowman Revenue by Segment
Revenue by Segment
Building Infrastructure Revenue
CapyFin.comTransportation Revenue
CapyFin.comPower and Utilities Revenue
CapyFin.com Forward Guidance
The Company is increasing and narrowing its full year 2022 outlook for Net Service Billing to be in the range of $170 to $185 million and Adjusted EBITDA in the range of $23 to $27 million.
Positive Outlook
- Net Service Billing to be in the range of $170 to $185 million
- Adjusted EBITDA in the range of $23 to $27 million
- Strategic and financially accretive acquisitions expected
- Management will discuss the Company’s acquisition pipeline during its upcoming earnings call.
- Completed acquisitions as of the date of this release
Challenges Ahead
- Guidance does not include contributions from any future acquisitions.
- Forward-looking statements are subject to risks and uncertainties.
- New risks emerge from time to time.
- Difficult to predict all risks
- Operates in a very competitive and rapidly changing environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income