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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 28,
2024 |
September 30,
2023 |
September 28,
2024 |
September 30,
2023 | ||||||||||||
| Gross revenues | $ | 250,885 | $ | 237,545 | $ | 694,750 | $ | 642,301 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 60,574 | 56,853 | 178,419 | 162,316 | |||||||||||
| Sub-consultant services | 46,910 | 44,960 | 114,324 | 112,367 | |||||||||||
| Other direct costs | 13,891 | 21,468 | 40,964 | 49,357 | |||||||||||
| Total direct costs | 121,375 | 123,281 | 333,707 | 324,040 | |||||||||||
| Gross profit | 129,510 | 114,264 | 361,043 | 318,261 | |||||||||||
| Operating expenses: | |||||||||||||||
| Salaries and wages, payroll taxes, and benefits | 66,922 | 60,262 | 200,466 | 171,883 | |||||||||||
| General and administrative | 20,897 | 20,257 | 64,320 | 49,728 | |||||||||||
| Facilities and facilities related | 5,873 | 6,011 | 17,869 | 17,208 | |||||||||||
| Depreciation and amortization | 15,303 | 12,981 | 44,745 | 36,371 | |||||||||||
| Total operating expenses | 108,995 | 99,511 | 327,400 | 275,190 | |||||||||||
| Income from operations | 20,515 | 14,753 | 33,643 | 43,071 | |||||||||||
| Interest expense | (4,547 | ) | (3,882 | ) | (13,344 | ) | (9,111 | ) | |||||||
| Income before income tax benefit (expense) | 15,968 | 10,871 | 20,299 | 33,960 | |||||||||||
| Income tax benefit (expense) | 1,110 | 2,185 | 2,250 | (382 | ) | ||||||||||
| Net income | $ | 17,078 | $ | 13,056 | $ | 22,549 | $ | 33,578 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 0.28 | $ | 0.21 | $ | 0.37 | $ | 0.56 | |||||||
| Diluted | $ | 0.27 | $ | 0.21 | $ | 0.36 | $ | 0.54 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 61,982,888 | 60,840,402 | 61,500,930 | 60,143,591 | |||||||||||
| Diluted | 63,042,962 | 61,991,348 | 62,769,575 | 61,794,767 | |||||||||||
| Comprehensive income: | |||||||||||||||
| Net income | $ | 17,078 | $ | 13,056 | $ | 22,549 | $ | 33,578 | |||||||
| Foreign currency translation income (loss), net of tax | 1,348 | (421 | ) | 671 | (612 | ) | |||||||||
| Comprehensive income | $ | 18,426 | $ | 12,635 | $ | 23,220 | $ | 32,966 | |||||||
