Exhibit 99.1

NV5 ANNOUNCES STRONG FOURTH QUARTER AND FULL YEAR 2019 RESULTS
 
 Hollywood, FL – February 26, 2020 – NV5 Global, Inc. (Nasdaq: NVEE) (“NV5” or the “Company”), a provider of professional and technical engineering and consulting solutions, today reported financial results for the fourth quarter and year ended December 28, 2019.

“2019 was another strong year for NV5 delivering annual gross revenue and Adjusted EBITDA growth. We are pleased with the performance and integration of the nine acquisitions completed in 2019, including the Quantum Spatial ("QSI") acquisition that was made in late December. We are particularly excited about Quantum Spatial’s performance and the growth prospects of our geospatial solutions business,” said Dickerson Wright, PE, Chairman and CEO of NV5. “We are pleased that the delayed large liquefied natural gas project contract and our North Carolina Department of Transportation projects that impacted our financial performance in the second half of 2019 are moving forward this month. Additionally, the issues related to initial set-up of project contracts in our project management system and adequate documentation to support the analysis of certain percentage of completion projects, have been addressed and remediated as of December 28, 2019. We expect that the performance of our core business will continue to be strong in 2020, and we are well-positioned for another successful year.”

Fourth Quarter 2019 Financial Highlights
Total Revenues for the fourth quarter of 2019 were $133.8 million from $116.1 million in the fourth quarter of 2018. Gross Revenues - GAAP for the fourth quarter of 2019 were $132.6 million from $115.3 million in the fourth quarter of 2018. QSI had revenues in the month of December 2019 of $13.3 million. The acquisition closed on December 20, 2019, which was later in the month than originally anticipated and coincided with the holiday week. As a result, during the period that we owned QSI in 2019, gross revenues were $1.4 million.
Net Revenues for the quarter were $104.3 million from $88.5 million in the fourth quarter of 2018.
Adjusted EBITDA for the fourth quarter 2019, excluding stock compensation and acquisition-related costs, was $17.9 million, an increase from $16.4 million in the fourth quarter of 2018, after excluding a $1.5 million reversal of 401K accruals in the fourth quarter of 2018.
Net income for the fourth quarter of 2019 was $3.6 million from $7.7 million in the fourth quarter of 2018.
GAAP EPS was $0.28 per share in the fourth quarter of 2019 from $0.62 per share in the fourth quarter of 2018.
Adjusted EPS in the fourth quarter of 2019 was $0.64 per share from $0.91 in the fourth quarter of 2018. Excluding non-recurring income tax adjustments in the fourth quarter of 2019, Adjusted EPS was $0.69.
Cash flows from operating activities increased to $18.3 million for 2019 from $17.4 million in 2018.

Full Year 2019 Financial Highlights
Total Revenues for 2019 were $512.9 million from $422.1 million in 2018. Gross Revenues - GAAP for 2019 were $508.9 million from $418.1 million in 2018.
Net Revenues for 2019 were $398.4 million from $334.3 million in 2018.
Adjusted EBITDA in 2019 was $68.6 million from $59.8 million in 2018.
Net income for the year was $23.8 million from $26.9 million in 2018.
GAAP EPS in 2019 was $1.90 per share (based on 12,513,034 diluted shares outstanding) from $2.33 per share (based on 11,506,466 diluted shares outstanding) in 2018.
Adjusted EPS for 2019 was $3.19 per share (based on 12,513,034 diluted shares outstanding) from $3.24 in 2018 (based on 11,506,466 diluted shares outstanding).
Cash flows from operating activities increased to $39.9 million for 2019 from $35.0 million in 2018.

2020 Outlook
 
As previously communicated by the Company on January 7, 2020, the Company expects Gross Revenues to range from
$700 million to $730 million and full year 2020 Adjusted EPS to range from $4.38 per share to $4.90 per share, an increase of 37% to 54% over 2019 Adjusted EPS of $3.19 per share.
 



The following information was filed by Nv5 Global, Inc. (NVEE) on Wednesday, February 26, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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