Bowman Consulting Group Ltd

Bowman Consulting Group reported second-quarter 2026 net service billing growth of 19.4% to $129.0 million, including 12.7% organic growth, while its gross backlog jumped 50.3% year over year to $658.7 million. Adjusted EBITDA increased 19.2% to $24.1 million, with the adjusted EBITDA margin holding at 18.7%. Net income fell to $2.5 million from $6.0 million, and operations used $7.9 million of cash. The company reaffirmed full-year net revenue guidance of $520 million to $540 million and an adjusted EBITDA margin of 17.2% to 17.7%. Separately, Bowman has agreed to be acquired by Bernhard Capital Partners for $43.00 per share in cash, with closing expected in the fourth quarter of 2026 or first quarter of 2027.

Bowman Consulting Group secured $11.2 million in new U.S. Department of Agriculture aerial mapping awards under the PINE Blanket Purchase Agreement on June 24. The three awards cover aerial data acquisition and processing across 38 states, including about 8.3 million acres of National Resources Inventory sites and 3.8 million Stewardship Lands Inventory easement acres. The company's broader data-center engineering platform supports designs above 250 kilowatts per cabinet and includes mechanical cooling systems, computational fluid dynamics analysis, coolant distribution unit and heat-exchanger designs, and direct liquid cooling capabilities.