NV5 Announces Record Second Quarter Results; Exceeds Analyst

NV5 Announces Record Second Quarter Results; Exceeds Analyst Consensus and Raises Full-Year 2021 Guidance

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)

	July 3, 2021		January 2, 2021
Assets
Current assets:
Cash and cash equivalents	$	113,023	$	64,909
Billed receivables, net	109,122		142,705
Unbilled receivables, net	83,586		74,458
Prepaid expenses and other current assets	11,013		6,804
Total current assets	316,744		288,876
Property and equipment, net	29,444		27,011
Right-of-use lease assets, net	44,196		43,607
Intangible assets, net	175,093		174,931
Goodwill	364,562		343,796
Other assets	3,364		2,954
Total Assets	$	933,403	$	881,175

Liabilities and Stockholders’ Equity

Current liabilities:
Accounts payable	$	38,446	$	39,989
Accrued liabilities	47,319		45,325
Billings in excess of costs and estimated earnings on uncompleted contracts	16,805		24,962
Client deposits	706		380
Current portion of contingent consideration	3,933		1,334
Current portion of notes payable and other obligations	26,989		24,196
Total current liabilities	134,198		136,186
Contingent consideration, less current portion	1,374		1,066
Other long-term liabilities	39,762		38,737
Notes payable and other obligations, less current portion	142,347		283,326
Deferred income tax liabilities, net	29,736		27,791
Total liabilities	347,417		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, 15,365,382 and 13,270,131 shares issued and outstanding as of July 3, 2021 and January 2, 2021, respectively	154		133
Additional paid-in capital	441,049		268,271
Retained earnings	144,783		125,665
Total stockholders’ equity	585,986		394,069
Total liabilities and stockholders’ equity	$	933,403	$	881,175

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