NV5 Global, Inc. reported financial results for the first quarter ended March 29, 2025, on May 1, 2025. Gross revenues grew 10% to $234.0 million from $212.6 million in Q1 2024, representing 5% organic growth. Gross profit increased 10% to $123.2 million, with gross margins consistent at 52.6%. Net income grew 456% to $0.4 million from $0.1 million in Q1 2024, despite $1.4 million of higher amortization expense from acquisitions. GAAP EPS was $0.01 per share, compared to $0.00 per share in Q1 2024.
Cash flows from operating activities significantly increased by 96% to $38.4 million from $19.6 million in Q1 2024. Adjusted EBITDA increased 8% to $29.7 million from $27.6 million, and Adjusted EPS grew 13% to $0.17 per share compared to $0.15 per share in Q1 2024. These results demonstrate the positive impact of initiatives to accelerate organic growth and cash flows.
The company reaffirmed its full-year 2025 guidance for revenue and earnings per share, citing strong Q1 performance, a robust backlog, and a pipeline of opportunities. The three acquisitions completed in Q1 had minimal impact on current financial results but position the company for expansion in key geographies and accelerated organic growth.
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