NV5 Announces Record Fourth Quarter and Full Year 2021 Results;

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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