NV5 Global is a technical services firm providing engineering, testing, inspection, and certification (TIC) services, geospatial data and analytics, and technology consulting. NV5 serves federal, state, and local government agencies, utilities, departments of transportation, the military, and private sector owners of commercial and industrial facilities, with roughly 63% of FY24 gross revenues from public and quasi-public sector clients. NV5 operates three segments: Infrastructure (engineering design, surveying, utility services, and construction quality assurance), Buildings, Technology & Sciences (MEP design, data center commissioning, clean energy consulting, and building digitization), and Geospatial Solutions (LiDAR data collection, aerial mapping, and geospatial software via the ENVI ecosystem). NV5 bills clients on time-and-materials, unit-price, or fixed-fee bases, and bears no construction cost overrun risk. Key margin drivers include employee utilization, service mix (TIC work carries higher margins than traditional engineering design), reducing subcontractor spend by performing work in-house, and spreading overhead across a growing revenue base. A growing portion of revenue is recurring, including software subscriptions, utility vegetation management contracts, and commissioning retainers. NV5 uses its engineering design capabilities as an entry point to win longer-duration TIC work over the full lifecycle of an asset. NV5 grows organically and through acquisitions of tech-enabled TIC companies, integrating them onto a shared services platform to capture cost synergies and cross-selling opportunities across its three segments.