NV5 Announces Record Third Quarter Results; Exceeds Analyst

NV5 Announces Record Third Quarter Results; Exceeds Analyst 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)

	October 1, 2022		January 1, 2022
Assets
Current assets:
Cash and cash equivalents	$	54,171	$	47,980
Billed receivables, net		141,308		153,814
Unbilled receivables, net		98,081		89,734
Prepaid expenses and other current assets		20,896		12,442
Total current assets		314,456		303,970
Property and equipment, net		41,042		32,729
Right-of-use lease assets, net		38,008		44,260
Intangible assets, net		167,592		188,224
Goodwill		398,614		389,916
Other assets		2,427		2,844
Total Assets	$	962,139	$	961,943

Liabilities and Stockholders’ Equity

Current liabilities:
Accounts payable	$	48,722	$	55,954
Accrued liabilities		58,481		50,461
Billings in excess of costs and estimated earnings on uncompleted contracts		27,886		29,444
Other current liabilities		1,421		1,551
Current portion of contingent consideration		9,224		5,807
Current portion of notes payable and other obligations		18,140		20,734
Total current liabilities		163,874		163,951
Contingent consideration, less current portion		2,813		2,521
Other long-term liabilities		28,760		34,304
Notes payable and other obligations, less current portion		63,238		111,062
Deferred income tax liabilities, net		21,097		25,385
Total liabilities		279,782		337,223

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, 15,559,921 and 15,414,005 shares issued and outstanding as of October 1, 2022 and January 1, 2022, respectively		156		154
Additional paid-in capital		467,416		451,754
Retained earnings		214,785		172,812
Total stockholders’ equity		682,357		624,720
Total liabilities and stockholders’ equity	$	962,139	$	961,943

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