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NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME AND COMPREHENSIVE INCOME (UNAUDITED) (in thousands, except share data) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30, 2023 | October 1, 2022 | September 30, 2023 | October 1, 2022 | ||||||||||||
| Gross revenues | $ | 239,287 | $ | 204,075 | $ | 646,242 | $ | 596,960 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 56,853 | 48,295 | 162,316 | 141,976 | |||||||||||
| Sub-consultant services | 45,522 | 41,253 | 112,827 | 116,557 | |||||||||||
| Other direct costs | 21,468 | 14,592 | 49,357 | 45,426 | |||||||||||
| Total direct costs | 123,843 | 104,140 | 324,500 | 303,959 | |||||||||||
| Gross profit | 115,444 | 99,935 | 321,742 | 293,001 | |||||||||||
| Operating expenses: | |||||||||||||||
| Salaries and wages, payroll taxes, and benefits | 60,262 | 49,670 | 171,883 | 146,719 | |||||||||||
| General and administrative | 20,257 | 16,730 | 49,728 | 47,611 | |||||||||||
| Facilities and facilities related | 6,011 | 5,441 | 17,208 | 15,822 | |||||||||||
| Depreciation and amortization | 13,840 | 9,771 | 38,426 | 29,373 | |||||||||||
| Total operating expenses | 100,370 | 81,612 | 277,245 | 239,525 | |||||||||||
| Income from operations | 15,074 | 18,323 | 44,497 | 53,476 | |||||||||||
| Interest expense | (3,882 | ) | (1,003 | ) | (9,111 | ) | (2,804 | ) | |||||||
| Income before income tax benefit (expense) | 11,192 | 17,320 | 35,386 | 50,672 | |||||||||||
| Income tax benefit (expense) | 2,124 | (1,257 | ) | (710 | ) | (8,699 | ) | ||||||||
| Net income | $ | 13,316 | $ | 16,063 | $ | 34,676 | $ | 41,973 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 0.88 | $ | 1.09 | $ | 2.31 | $ | 2.85 | |||||||
| Diluted | $ | 0.86 | $ | 1.05 | $ | 2.24 | $ | 2.75 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 15,210,100 | 14,768,689 | 15,035,898 | 14,732,726 | |||||||||||
| Diluted | 15,497,836 | 15,301,545 | 15,448,693 | 15,242,453 | |||||||||||
| Comprehensive income: | |||||||||||||||
| Net income | $ | 13,316 | $ | 16,063 | $ | 34,676 | $ | 41,973 | |||||||
| Foreign currency translation losses, net of tax | (421 | ) | — | (612 | ) | — | |||||||||
| Comprehensive income | $ | 12,895 | $ | 16,063 | $ | 34,064 | $ | 41,973 | |||||||
