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)
| July 2, 2022 | January 1, 2022 | ||||
| Assets | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 44,422 | $ | 47,980 | |
| Billed receivables, net | 139,959 | 153,814 | |||
| Unbilled receivables, net | 93,486 | 89,734 | |||
| Prepaid expenses and other current assets | 13,159 | 12,442 | |||
| Total current assets | 291,026 | 303,970 | |||
| Property and equipment, net | 39,557 | 32,729 | |||
| Right-of-use lease assets, net | 40,595 | 44,260 | |||
| Intangible assets, net | 178,383 | 188,224 | |||
| Goodwill | 394,760 | 389,916 | |||
| Other assets | 2,639 | 2,844 | |||
| Total Assets | $ | 946,960 | $ | 961,943 | |
| Liabilities and Stockholders’ Equity | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 52,310 | $ | 55,954 | |
| Accrued liabilities | 51,135 | 50,461 | |||
| Billings in excess of costs and estimated earnings on uncompleted contracts | 22,625 | 29,444 | |||
| Other current liabilities | 1,454 | 1,551 | |||
| Current portion of contingent consideration | 9,772 | 5,807 | |||
| Current portion of notes payable and other obligations | 18,932 | 20,734 | |||
| Total current liabilities | 156,228 | 163,951 | |||
| Contingent consideration, less current portion | 3,020 | 2,521 | |||
| Other long-term liabilities | 30,564 | 34,304 | |||
| Notes payable and other obligations, less current portion | 73,839 | 111,062 | |||
| Deferred income tax liabilities, net | 22,366 | 25,385 | |||
| Total liabilities | 286,017 | 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, 15,537,134 and 15,414,005 shares issued and outstanding as of July 2, 2022 and January 1, 2022, respectively | 155 | 154 | |||
| Additional paid-in capital | 462,066 | 451,754 | |||
| Retained earnings | 198,722 | 172,812 | |||
| Total stockholders’ equity | 660,943 | 624,720 | |||
| Total liabilities and stockholders’ equity | $ | 946,960 | $ | 961,943 | |
