Bowman Consulting Group Ltd. (NASDAQ:BWMN) Q2 2024 Earnings Conference Call August 7, 2024 9:00 AM ET

Company Participants

Gary Bowman - Chairman & Chief Executive Officer
Bruce Labovitz - Chief Financial Officer

Conference Call Participants

Aaron Spychalla - Craig Hallum
Andy Wittman - Baird
Brent Thielman - DA Davidson
Alex Rygiel - B. Riley
Jeff Martin - Roth MKM

Operator

Good morning. My name is Megan, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Bowman Consulting Group Second Quarter 2024 Conference Call. [Operator's Instructions]

Please note that many of the comments made today are considered forward-looking statements under federal securities laws. As described in the company's filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed and the company is not obligated to publicly update or revise these forward-looking statements.

In addition, on today's call, the company will discuss certain non-GAAP financial information, such as adjusted EBITDA, adjusted net income and net service billing. You can find this information together with the reconciliations to the most directly comparable GAAP information in the company's earnings press release and 8-K filed with the SEC and on the company's investor website at investors.bowman.com.

Management will deliver prepared remarks, after which they will take live questions from published research analysts. Throughout the call, attendees on the webcast, may post questions for management to answer on the call or in subsequent communications. But there will be no live Q&A from the webcast attendees. Replays of the call will be available on the company's investor website.

Mr. Bowman, you may begin your prepared remarks.

Gary Bowman

Thanks Megan. Good morning and thank you for joining the Bowman Consulting Group second quarter 2024 earnings call. With me this morning, Bruce Labovitz, our CFO. I also want to welcome all of our new employees including everyone who joined us recently from Element Engineering in Colorado and the FCS Group in Washington State.

This morning I'm going to start off with some introductory comments, after which Bruce will discuss our financial results. I'll then come back on the line for some additional remarks about our trajectory into 2025 and end with Q&A.

Okay. During the three months ended June 30, 2024, we generated record quarterly gross and net revenue surpassing $100 million in a single quarter for the first time. While short of expectations, it is a meaningful advance toward our goal of a $500 million annual gross revenue pace within our first five years as a public company.