CONSOLIDATED STATEMENTS OF NET INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
(in thousands, except share data)

	Three Months Ended								Six Months Ended
	July 1, 2023				July 2, 2022				July 1, 2023				July 2, 2022
Gross revenues	$	222,638			$	202,732			$	406,955			$	392,885
Direct costs:
Salaries and wages		57,079				47,704				105,463				93,681
Sub-consultant services		39,690				40,479				67,304				75,305
Other direct costs		15,569				15,309				27,890				30,833
Total direct costs		112,338				103,492				200,657				199,819
Gross profit		110,300				99,240				206,298				193,066
Operating expenses:
Salaries and wages, payroll taxes, and benefits		58,949				47,283				111,621				97,049
General and administrative		11,551				14,494				29,472				30,881
Facilities and facilities related		5,823				5,195				11,197				10,381
Depreciation and amortization		13,539				9,668				24,585				19,602
Total operating expenses		89,862				76,640				176,875				157,913
Income from operations		20,438				22,600				29,423				35,153
Interest expense		(3,648	)			(887	)			(5,229	)			(1,801	)
Income before income tax expense		16,790				21,713				24,194				33,352
Income tax expense		(1,377	)			(4,445	)			(2,834	)			(7,442	)
Net income	$	15,413			$	17,268			$	21,360			$	25,910
Earnings per share:
Basic	$	1.03			$	1.17			$	1.43			$	1.76
Diluted	$	1.00			$	1.13			$	1.39			$	1.70
Weighted average common shares outstanding:
Basic		15,014,106				14,736,167				14,948,796				14,714,745
Diluted		15,451,788				15,232,157				15,421,535				15,211,835
Comprehensive income:
Net income	$	15,413			$	17,268			$	21,360			$	25,910
Foreign currency translation losses, net of tax		(191	)			—				(191	)			—
Comprehensive income	$	15,222			$	17,268			$	21,169			$	25,910

NV5 GLOBAL, INC. AND SUBSIDIARIES