HOLLYWOOD, Fla. - NV5 Global, Inc. (NASDAQ:NVEE), a $1.23 billion market cap provider of professional and technical engineering and consulting solutions with impressive gross margins of 51.76%, announced today it has secured a significant contract with Toitū Te Whenua Land Information New Zealand (LINZ). According to InvestingPro analysis, the company is currently trading near its 52-week low, suggesting potential value opportunity for investors interested in the infrastructure sector. The $4 million project will involve supplying geospatial hydrographic data to map approximately 20% of New Zealand's coastline, marking a substantial step in NV5’s international geospatial growth initiative.
The data collected by NV5 will assist in the creation of detailed 3D maps covering 4,780 square kilometers of coastal regions and adjacent sea floor areas. The company's strong financial position is evident in its healthy current ratio of 2.05, indicating robust operational capability to execute such large-scale projects. This initiative is part of a larger 3D Coastal Mapping program aimed at enhancing baseline data to better comprehend the environmental impact on coastal zones from sea-level changes and natural events like tsunamis and earthquakes.
NV5 will employ cutting-edge topobathymetric lidar and 4-band imagery technology for this project. The company's expertise in this field is well established, having conducted similar geospatial analyses for the United States Federal Government and various state governments. These analyses focus on assessing coastal resilience and the implications of sea-level rise on infrastructure and nautical mapping.
Ben Heraud, CEO of NV5, highlighted the company’s proprietary algorithms, analytical capabilities, and intellectual property, which have garnered significant demand both domestically and internationally. He noted that NV5's international expansion is being driven by replicating analyses provided in the U.S. for many years. NV5’s international projects have spanned Europe, Asia, Latin America, the Caribbean, and the Asia Pacific regions.
Kurt Allen, PLS, President of NV5 Geospatial, emphasized the company’s commitment to serving clients globally through investments in geospatial data sharing, mining, and processing. NV5 boasts a network of industry-leading geospatial data engineers and data scientists located in the U.S. and India.
NV5 operates from over 100 offices worldwide and offers a wide range of services across multiple business verticals, including utility services, infrastructure engineering, conformity assessment, buildings & technology, environmental services, and geospatial services.
This press release is based on a press release statement from NV5 Global, Inc. and contains forward-looking statements that are subject to various risk factors and uncertainties that could cause actual results to differ materially from those projected.
In other recent news, NV5 Global, Inc. has announced its acquisition of Group Delta, a Southern California-based infrastructure engineering firm. This strategic move aims to bolster NV5's infrastructure engineering and environmental services in the region, particularly in light of California's recent $180 billion infrastructure investment plan. The acquisition brings to NV5 a team of 100 specialists and five laboratories across Los Angeles, Orange, and San Diego counties, enhancing its current portfolio in water, electrical utility, and transportation infrastructure sectors.
In leadership news, Ben Heraud has assumed the position of sole CEO, with Alex Hockman transitioning to the role of CEO of Infrastructure within the company. NV5 Global has also set a target of $1.6 billion in annual revenue by 2028, following its impressive performance of surpassing $1 billion in gross revenue entering 2025.
The company plans to achieve this growth through the expansion of its existing capabilities and strategic investments in tech-based solutions and high-growth sectors. NV5 Global has also announced a plan to repurchase up to $20 million of its common stock and has secured infrastructure design and consulting contracts valued at over $67 million in total.
NV5 Global has further expanded its service offerings through the acquisition of Global Fire Protection Group and Southport Engineering Associates, which are expected to contribute to the company's earnings. These are the recent developments at NV5 Global.
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