Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email:
ir@nv5.com
Source: NV5 Global, Inc.
NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(in thousands, except share data)
| July 1, 2023 | December 31, 2022 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 28,827 | $ | 38,541 | |||
| Billed receivables, net | 149,110 | 145,637 | |||||
| Unbilled receivables, net | 107,192 | 92,862 | |||||
| Prepaid expenses and other current assets | 20,501 | 13,636 | |||||
| Total current assets | 305,630 | 290,676 | |||||
| Property and equipment, net | 49,392 | 41,640 | |||||
| Right-of-use lease assets, net | 38,628 | 39,314 | |||||
| Intangible assets, net | 243,579 | 160,431 | |||||
| Goodwill | 526,848 | 400,957 | |||||
| Other assets | 3,751 | 2,705 | |||||
| Total Assets | $ | 1,167,828 | $ | 935,723 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 55,578 | $ | 57,771 | |||
| Accrued liabilities | 52,735 | 44,313 | |||||
| Billings in excess of costs and estimated earnings on uncompleted contracts | 37,195 | 31,183 | |||||
| Other current liabilities | 2,072 | 1,597 | |||||
| Current portion of contingent consideration | 4,149 | 10,854 | |||||
| Current portion of notes payable and other obligations | 14,800 | 15,176 | |||||
| Total current liabilities | 166,529 | 160,894 | |||||
| Contingent consideration, less current portion | 1,897 | 4,481 | |||||
| Other long-term liabilities | 28,526 | 29,542 | |||||
| Notes payable and other obligations, less current portion | 209,241 | 39,673 | |||||
| Deferred income tax liabilities, net | 20,487 | 6,893 | |||||
| Total liabilities | 426,680 | 241,483 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Preferred stock, $0.01 par value; 5,000,000 shares authorized, no shares issued and outstanding | — | — | |||||
| Common stock, $0.01 par value; 45,000,000 shares authorized, 15,890,908 and 15,523,300 shares issued and outstanding as of July 1, 2023 and December 31, 2022, respectively | 159 | 155 | |||||
| Additional paid-in capital | 497,035 | 471,300 | |||||
| Accumulated other comprehensive income (loss) | (191 | ) | — | ||||
| Retained earnings | 244,145 | 222,785 | |||||
| Total stockholders’ equity | 741,148 | 694,240 | |||||
| Total liabilities and stockholders’ equity | $ | 1,167,828 | $ | 935,723 | |||
NV5 GLOBAL, INC. AND SUBSIDIARIES
