NV5 Global Inc (NASDAQ:NVEE) saw its stock price soar 7.34% in Friday's pre-market trading session, following the company's impressive financial results and positive outlook shared in its Q4 2024 earnings call.
The infrastructure solutions provider reported a 10% increase in revenues, reaching $941 million in 2024, driven by robust demand across its segments. Moreover, the company's backlog hit a record high of $904 million, up 8% from the previous year, providing a solid foundation for future growth.
NV5 Global's focus on expanding its high-margin recurring tech services is expected to contribute significantly to margin expansion and long-term client engagement. The company has set an ambitious revenue target of $1.6 billion by the end of 2028, signaling its strong growth ambitions.
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