Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash Flows from Operating Activities:
Net loss	$ (1,744)	$ (1,558)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization - property, plant and equipment	3,904	2,656
Amortization of intangible assets	2,617	3,339
Gain on sale of assets	(49)	(96)
Credit losses	345	402
Stock based compensation	6,630	7,829
Deferred taxes	(10,977)	(4,201)
Accretion of discounts on notes payable	256	117
Changes in operating assets and liabilities, net of acquisition of businesses
Accounts receivable	(1,896)	(7,946)
Contract assets	(6,340)	(2,151)
Prepaid expenses and other assets	615	(5,523)
Accounts payable and accrued expenses	14,885	10,614
Contract liabilities	3,788	(963)
Net cash provided by operating activities	12,034	2,519
Cash Flows from Investing Activities:
Purchases of property and equipment	(1,043)	(262)
Fixed assets converted to lease financing	0	424
Proceeds from sale of assets and disposal of leases	49	96
Payments received under loans to shareholders	0	20
Proceeds from notes receivable	718	0
Acquisitions of businesses, net of cash acquired	(1,479)	(3,027)
Collections under stock subscription notes receivable	11	10
Net cash used in investing activities	(1,744)	(2,739)
Cash Flows from Financing Activities:
(Repayments) Borrowings under revolving credit facility	8,000	1,964
Repayments under fixed line of credit	0	(49)
Repayment under notes payable	(4,377)	(3,734)
Payments on finance leases	(2,702)	(1,716)
Payment of contingent consideration from acquisitions	(1,016)	0
Payments for purchase of treasury stock	(2,574)	(5,732)
Repurchases of common stock	(4,103)	0
Proceeds from issuance of common stock	484	473
Net cash used in financing activities	(6,288)	(8,794)
Net increase (decrease) in cash and cash equivalents	4,002	(9,014)
Cash and cash equivalents, beginning of period	6,698	20,687
Cash and cash equivalents, end of period	10,700	11,673
Supplemental disclosures of cash flow information:
Cash paid for interest	2,028	1,962
Cash paid for income taxes	10	11
Non-cash investing and financing activities:
Property and equipment acquired under finance lease	(2,006)	(3,002)
Note payable converted to common shares	(434)	(672)
Issuance of notes payable for acquisitions	(2,056)	(2,461)
Settlement of contingent consideration	$ 1,968	$ 0

Bowman Consulting Group Ltd. 10-Q