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About NV5

NV5 Global, Inc. (NASDAQ GS: NVEE) is a provider of technology, conformity assessment, consulting solutions, and software applications for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company focuses on multiple verticals: construction quality assurance, infrastructure engineering, utility services, buildings & technology, environmental health sciences, and geospatial technology services to deliver innovative, sustainable solutions to complex issues and improve lives in our communities. NV5 operates out of more than 100 offices nationwide and internationally. For additional information, please visit the Company’s website at www.NV5.com. Also, visit the Company on LinkedIn, Twitter, Facebook, and Instagram.

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release and on the conference call. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.

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)
	September 28, 2024				December 30, 2023
Assets
Current assets:
Cash and cash equivalents	$	73,257			$	44,824
Billed receivables, net		164,406				152,593
Unbilled receivables, net		143,274				111,304
Prepaid expenses and other current assets		18,185				18,376
Total current assets		399,122				327,097
Property and equipment, net		56,386				50,268
Right-of-use lease assets, net		33,743				36,836
Intangible assets, net		210,967				210,659
Goodwill		569,994				549,798
Deferred income tax assets, net		20,296				6,388
Other assets		2,695				3,149
Total Assets	$	1,293,203			$	1,184,195
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	72,194			$	54,397
Accrued liabilities		52,525				47,526
Billings in excess of costs and estimated earnings on uncompleted contracts		56,082				59,373
Other current liabilities		2,746				2,263
Current portion of contingent consideration		2,653				3,922
Current portion of notes payable and other obligations		8,627				9,267
Total current liabilities		194,827				176,748
Contingent consideration, less current portion		2,970				143
Other long-term liabilities		23,973				26,930
Notes payable and other obligations, less current portion		248,432				205,468
Total liabilities		470,202				409,289
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; 180,000,000 shares authorized, 65,155,904 and 63,581,020 shares issued and outstanding as of September 28, 2024 and December 30, 2023, respectively		652				636
Additional paid-in capital		532,638				507,779
Accumulated other comprehensive income (loss)		653				(18	)
Retained earnings		289,058				266,509
Total stockholders’ equity		823,001				774,906
Total liabilities and stockholders’ equity	$	1,293,203			$	1,184,195