NV5 Announces Record Fourth Quarter and Full Year 2021 Results; Exceeds Analysts' Consensus

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)

  January 1, 2022  January 2, 2021
Assets     
Current assets:   
Cash and cash equivalents$47,980 $64,909
Billed receivables, net 153,814  142,705
Unbilled receivables, net 89,734  74,458
Prepaid expenses and other current assets 12,442  6,804
Total current assets 303,970  288,876
Property and equipment, net 32,729  27,011
Right-of-use lease assets, net 44,260  43,607
Intangible assets, net 188,224  174,931
Goodwill 389,916  343,796
Other assets 2,844  2,954
Total Assets$961,943 $881,175
    
Liabilities and Stockholders’ Equity     
    
Current liabilities:      
Accounts payable $ 55,954   $ 39,989
Accrued liabilities   50,461     45,325
Billings in excess of costs and estimated earnings on uncompleted contracts   29,444     24,962
Client deposits   1,551     380
Current portion of contingent consideration   5,807     1,334
Current portion of notes payable and other obligations   20,734     24,196
Total current liabilities   163,951     136,186
Contingent consideration, less current portion   2,521     1,066
Other long-term liabilities   34,304     38,737
Notes payable and other obligations, less current portion   111,062     283,326
Deferred income tax liabilities, net   25,385     27,791
Total liabilities   337,223     487,106
       
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, 15,414,005 and 13,270,131 shares issued and outstanding as of January 1, 2022 and January 2, 2021, respectively   154     133
Additional paid-in capital   451,754     268,271
Retained earnings   172,812     125,665
Total stockholders’ equity   624,720     394,069
Total liabilities and stockholders’ equity $ 961,943   $ 881,175



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