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.
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NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share data) | ||||||
| September 30, 2023 | December 31, 2022 | |||||
| Assets | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 46,439 | $ | 38,541 | ||
| Billed receivables, net | 166,859 | 145,637 | ||||
| Unbilled receivables, net | 122,049 | 92,862 | ||||
| Prepaid expenses and other current assets | 14,239 | 13,636 | ||||
| Total current assets | 349,586 | 290,676 | ||||
| Property and equipment, net | 49,930 | 41,640 | ||||
| Right-of-use lease assets, net | 39,105 | 39,314 | ||||
| Intangible assets, net | 236,433 | 160,431 | ||||
| Goodwill | 527,030 | 400,957 | ||||
| Other assets | 3,881 | 2,705 | ||||
| Total Assets | $ | 1,205,965 | $ | 935,723 | ||
| Liabilities and Stockholders’ Equity | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 67,144 | $ | 57,771 | ||
| Accrued liabilities | 64,538 | 44,313 | ||||
| Billings in excess of costs and estimated earnings on uncompleted contracts | 42,808 | 31,183 | ||||
| Other current liabilities | 2,286 | 1,597 | ||||
| Current portion of contingent consideration | 3,845 | 10,854 | ||||
| Current portion of notes payable and other obligations | 12,989 | 15,176 | ||||
| Total current liabilities | 193,610 | 160,894 | ||||
| Contingent consideration, less current portion | 1,897 | 4,481 | ||||
| Other long-term liabilities | 29,102 | 29,542 | ||||
| Notes payable and other obligations, less current portion | 215,642 | 39,673 | ||||
| Deferred income tax liabilities, net | 5,797 | 6,893 | ||||
| Total liabilities | 446,048 | 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, 15,892,912 and 15,523,300 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively | 159 | 155 | ||||
| Additional paid-in capital | 502,909 | 471,300 | ||||
| Accumulated other comprehensive income (loss) | (612 | ) | — | |||
| Retained earnings | 257,461 | 222,785 | ||||
| Total stockholders’ equity | 759,917 | 694,240 | ||||
| Total liabilities and stockholders’ equity | $ | 1,205,965 | $ | 935,723 | ||
