Bowman Consulting posts transcript of Q1 2026 earnings call

Bowman Consulting Group, Ltd.

Bowman Consulting Group, Ltd.

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  • Bowman Consulting first-quarter 2026 earnings call held today with President and CEO Gary Bowman, CFO Bruce Labovitz, COO Daniel Swayze; analysts included Craig-Hallum, B. Riley, JP Morgan, Texas Capital Securities, ROTH Capital Partners.
  • Full-year 2026 guidance raised to net revenue USD 520 million-USD 540 million, adjusted EBITDA margin 17.2%-17.7%, framed as more than 20% organic net revenue growth at midpoint.
  • Q1 gross contract revenue USD 126.5 million, net service billing USD 114.2 million, adjusted EBITDA USD 16.8 million at 14.7% margin; backlog hit record about USD 653 million, up 56% year-over-year, with quarterly backlog growth described as entirely organic.
  • Large government contract described as about USD 177 million not-to-exceed over 36 months, expected to weigh on net-to-gross ratio toward roughly 75%; most consequential revenue impact expected in second half of 2026 into 2027.
  • Management flagged power sector growth of 37% year-over-year in gross revenue, data center work rising to just over 6% of revenue; AI positioned as margin-supportive via higher-value deliverables, with more than 25 proprietary tools deployed, while fixed-fee work seen as gradually increasing share of contracting mix.


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