Bowman Consulting Group Posts Q4 Revenue Growth, Raises 2026 Guidance to $495–$510M
Fourth-quarter gross revenue reached $129 million with net service billing rising 16.2% year-over-year to under $114.6 million and net-to-gross ratio of 89%. Bowman Consulting Group entered 2026 with a record backlog of $479 million and raised fiscal 2026 net revenue guidance to $495–$510 million with a 17%–17.5% Adjusted EBITDA margin target.
1. Q4 Financial Highlights
Fourth quarter gross revenue reached $129 million and net service billing rose 16.2% year-over-year to under $114.6 million, with an 89% net-to-gross ratio and 11% organic net revenue growth.
2. Backlog and Order Growth
Book-to-burn ratio remained above 1x as new orders strengthened in power utilities, transportation and natural resources, driving backlog to a record $479 million, up 20% year-over-year.
3. Integration and Technology Investments
The RPT Alliance acquisition is fully integrated, and investments in geospatial technology and software capabilities aim to boost efficiency and cross-selling in gas, LNG and midstream projects.
4. 2026 Outlook and Guidance
Management raised fiscal 2026 net revenue guidance to $495–$510 million with an Adjusted EBITDA margin target of 17%–17.5%, while focusing on reducing leverage, maintaining $150 million liquidity and optimizing working capital.