SPAR Group, Inc. Reports Second Quarter 2025 Results
SPAR Group (NASDAQ: SGRP) reported its Q2 2025 financial results, showing sequential growth despite year-over-year comparisons affected by previous divestitures. The company achieved Q2 2025 revenues of $38.6 million, representing a 13.5% increase from Q1 2025, with U.S. and Canada revenues up 5% year-over-year.
Key highlights include improved gross margins of 23.5%, up from 21.4% in Q1 and 20.6% in the prior year period. The company reported break-even earnings per share, compared to a loss of ($0.16) per share in Q2 2024. SPAR maintains a strong financial position with total liquidity of $15.1 million and is pursuing a significant pipeline of over $200 million in potential future business opportunities in the U.S. and Canada.
SPAR Group (NASDAQ: SGRP) ha comunicato i risultati finanziari del 2° trimestre 2025, registrando una crescita sequenziale nonostante i confronti annuali siano stati influenzati da cessioni precedenti. La società ha conseguito ricavi nel 2° trimestre 2025 pari a $38,6 milioni, con un aumento del 13,5% rispetto al 1° trimestre 2025, e i ricavi negli Stati Uniti e in Canada sono cresciuti del 5% su base annua.
I punti salienti includono margini lordi migliorati al 23,5%, rispetto al 21,4% nel Q1 e al 20,6% nello stesso periodo dell'anno precedente. La società ha riportato utili per azione in pareggio, rispetto a una perdita di ($0.16) per azione nel 2° trimestre 2024. SPAR mantiene una solida posizione finanziaria con una liquidità totale di $15,1 milioni e sta perseguendo un significativo portafoglio di opportunità future per oltre $200 milioni negli Stati Uniti e in Canada.
SPAR Group (NASDAQ: SGRP) anunció sus resultados financieros del segundo trimestre de 2025, mostrando crecimiento secuencial pese a que las comparaciones interanuales se vieron afectadas por desinversiones previas. La compañía alcanzó ingresos en el 2T 2025 de $38,6 millones, lo que supone un aumento del 13,5% respecto al 1T 2025, y los ingresos en EE. UU. y Canadá crecieron un 5% interanual.
Los puntos clave incluyen una mejora en los márgenes brutos al 23,5%, frente al 21,4% en el 1T y al 20,6% en el mismo periodo del año anterior. La compañía reportó un beneficio por acción neutro, frente a una pérdida de ($0.16) por acción en el 2T 2024. SPAR mantiene una posición financiera sólida con liquidez total de $15,1 millones y está gestionando una cartera importante de más de $200 millones en oportunidades potenciales futuras en EE. UU. y Canadá.
SPAR Group (NASDAQ: SGRP)는 2025년 2분기 실적을 발표하며, 과거 매각의 영향으로 전년 비교에 제약이 있었음에도 분기별(순차적) 성장을 기록했습니다. 회사는 2025년 2분기 매출 $38.6 million을 달성했으며, 이는 2025년 1분기 대비 13.5% 증가한 수치이고 미국 및 캐나다 매출은 전년 대비 5% 증가했습니다.
주요 내용으로는 총마진이 23.5%로 개선되어 1분기 21.4% 및 전년 동기 20.6%에서 상승한 점이 있습니다. 주당순이익은 손익분기점 수준을 기록했으며, 이는 2024년 2분기의 주당 손실($0.16)과 비교됩니다. SPAR는 총 유동성 $15.1 million으로 견조한 재무 상태를 유지하고 있으며 미국 및 캐나다에서 향후 $200 million 이상의 잠재 사업 기회를 추진하고 있습니다.
SPAR Group (NASDAQ: SGRP) a publié ses résultats du 2e trimestre 2025, montrant une croissance séquentielle malgré des comparaisons annuelles affectées par des cessions antérieures. La société a réalisé des revenus au 2T 2025 de $38,6 millions, soit une augmentation de 13,5% par rapport au T1 2025, et les revenus aux États-Unis et au Canada ont augmenté de 5% sur un an.
Les points clés incluent des marges brutes améliorées à 23,5%, contre 21,4% au T1 et 20,6% l'année précédente. La société a déclaré un résultat par action à l'équilibre, contre une perte de ($0.16) par action au 2T 2024. SPAR conserve une position financière solide avec une liquidité totale de $15,1 millions et poursuit un important pipeline de plus de $200 millions d'opportunités commerciales potentielles aux États-Unis et au Canada.
SPAR Group (NASDAQ: SGRP) meldete seine Finanzergebnisse für das 2. Quartal 2025 und verzeichnete ein sequenzielles Wachstum, obwohl die Jahresvergleiche durch frühere Veräußerungen beeinflusst wurden. Das Unternehmen erzielte Umsätze im 2. Quartal 2025 von $38,6 Millionen, was einem Anstieg von 13,5% gegenüber dem 1. Quartal 2025 entspricht; die Umsätze in den USA und Kanada stiegen im Jahresvergleich um 5%.
Zu den wichtigsten Punkten gehören verbesserte Bruttomargen von 23,5%, gegenüber 21,4% im Q1 und 20,6% im Vorjahreszeitraum. Das Unternehmen meldete ein ausgeglichenes Ergebnis je Aktie, gegenüber einem Verlust von ($0.16) je Aktie im 2. Quartal 2024. SPAR verfügt über eine starke Finanzposition mit Gesamtliquidität von $15,1 Millionen und verfolgt eine bedeutende Pipeline von über $200 Millionen an potenziellen Geschäftsgelegenheiten in den USA und Kanada.
- Sequential revenue growth of 13.5% from Q1 2025 to Q2 2025
- Improved gross margins to 23.5% from 20.6% year-over-year
- Strong pipeline of over $200 million in future business opportunities
- Solid liquidity position of $15.1 million
- U.S. and Canada revenues up 5% year-over-year
- Net cash used by operating activities was $11.9 million for H1 2025
- Adjusted EBITDA declined to $2.8 million (3.9% of sales) from $3.8 million (4.1% of sales) year-over-year
- Break-even earnings compared to positive earnings in H1 2024
Insights
SPAR Group shows solid sequential growth and improved margins following strategic international divestitures, though year-over-year comparisons remain complex.
SPAR Group's Q2 2025 results reveal a company in transition showing promising signs of operational improvement. The 13.5% sequential revenue growth from Q1 to Q2 ($38.6 million) demonstrates strengthening momentum in their core U.S. and Canada operations. Most impressive is the gross margin expansion to 23.5%, up from 21.4% in Q1 and 20.6% in the year-ago period, indicating their strategic divestitures of international joint ventures are enhancing profitability.
The year-over-year revenue comparison is complex due to the company's exit from joint ventures in Mexico, China, Japan, and India, making direct comparisons misleading. However, the 5% revenue growth in continuing U.S. and Canada operations shows the core business is performing well despite these changes.
SPAR maintains a solid liquidity position of $15.1 million, including $13.9 million in cash, providing flexibility for growth initiatives. The $200 million pipeline of potential business represents significant growth potential relative to their current revenue base.
While the company reached breakeven earnings in Q2 (versus a $3.9 million loss last year), the $11.9 million cash used in operations for the first half is concerning and bears watching. This suggests potential challenges in working capital management despite the improved operating metrics.
The Adjusted EBITDA margin of 3.4% shows slight improvement over the prior year (3.2%), but remains thin for a service business. For SPAR to truly transform its financial performance, continued margin expansion and operational efficiency will be critical as it pursues its substantial pipeline opportunities.
Strengthening quarterly sales, up
AUBURN HILLS, Mich., Aug. 14, 2025 (GLOBE NEWSWIRE) -- SPAR Group, Inc. (NASDAQ: SGRP) (“SPAR,” “SPAR Group” or the “Company”), a leading provider of merchandising, marketing, and distribution services, today reported financial and operating results for the three and six months ended June 30, 2025.
Mike Matacunas, the Company’s President and Chief Executive Officer, commented, “Although the year-over-year comparisons of the consolidated financials remain complicated by the divestitures in the prior year, our second quarter revenues of
“We are well-positioned with a solid balance sheet and available liquidity of over
Second Quarter 2025 Highlights
- Net revenues were
$38.6 million , up13.5% sequentially from the first quarter. Sales declines from the prior year reflect the exit of joint ventures in Mexico, China, Japan, and India. - Consolidated Gross Margin was
23.5% of sales, compared favorably to21.4% of sales in the first quarter and20.6% of sales in the prior year period. - Net income (loss) attributable to SPAR Group, Inc. was essentially break-even, or
$0.00 per diluted share, compared to a loss of ($3.9) million , or ($0.16) per diluted share in the prior year quarter. The prior year’s second quarter includes a$1.4 million non-cash loss on sale. - Adjusted EBITDA attributable to SPAR Group, Inc. was
$1.3 million , or3.4% of sales, compared to the prior year quarter of$1.4 million , or3.2% of sales.
1 Refer to the Geographic Data table in the Segment footnote of the Company’s Form 10-Q for the second quarter of 2025.
First Half 2025 Highlights
- Net revenues were
$72.7 million . - Consolidated Gross Margin was
22.5% of sales, compared to20.1% of sales in the prior year period. - Net income attributable to SPAR Group, Inc. was
$0.5 million , or$0.02 per diluted share, compared to$2.7 million , or$0.12 per diluted share, in the first six months of fiscal 2025. The 2024 half-year includes a$5.7 million non-cash gain on sale. - Adjusted EBITDA attributable to SPAR Group, Inc. was
$2.8 million , or3.9% of sales, compared to the prior year first half of$3.8 million , or4.1% of sales.
Financial Position as of June 30, 2025
The Company’s total liquidity at the end of the quarter was
About SPAR Group, Inc.
SPAR Group is a leading merchandising and marketing services company in North America, providing a broad range of services to retailers, manufacturers, and distributors. With more than 50 years of experience, merchandising across the United States and Canada, an average of 30,000+ store visits a week and long-term relationships with leading manufacturers and retail businesses, we provide specialized capabilities across North America. Our unique combination of scale, merchandising, and marketing expertise, combined with our unwavering commitment to excellence, separates us from the competition. For more information, please visit the SPAR Group’s website at http://www.sparinc.com.
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains, and the above referenced recorded comments, will contain “forward-looking statements” within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, made by, or respecting, SPAR Group, Inc. (“SGRP”) and its subsidiaries (together with SGRP, “SPAR”, “SPAR Group” or the “Company”), filed in an Annual Report on Form 10-K/A by SGRP with the Securities and Exchange Commission (the “SEC”) for its fiscal year ended December 31, 2024, and SGRP’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports and statements as and when filed with the SEC (including the Quarterly Report, the Annual Report and the Proxy Statement, the Information Statement, the Second Special Meeting Proxy/Information Statement, each a “SEC Report”). “Forward-looking statements” are defined in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and other applicable federal and state securities laws, rules and regulations, as amended (together with the Securities Act and Exchange Act, the “Securities Laws”).
The forward-looking statements made by the Company in this Press Release may include (without limitation) any expectations, guidance or other information respecting the pursuit or achievement of the Company’s corporate strategic objectives. The Company’s forward-looking statements also include, in particular and without limitation, those made in “Business”, “Risk Factors”, “Legal Proceedings”, and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Annual Report. You can identify forward-looking statements in such information by the Company’s use of terms such as “may”, “will”, “expect”, “intend”, “believe”, “estimate”, “anticipate”, “continue”, “plan”, “project” or similar words or variations or negatives of those words.
You should carefully consider (and not place undue reliance on) the Company’s forward-looking statements, risk factors and the other risks, cautions and information made, contained or noted in or incorporated by reference into this Press Release, the Annual Report, the Proxy Statement and the other applicable SEC Reports that could cause the Company’s actual performance or condition (including its assets, business, clients, capital, cash flow, credit, expenses, financial condition, income, liabilities, liquidity, locations, marketing, operations, performance, prospects, sales, strategies, taxation or other achievement, results, risks, trends or condition) to differ materially from the performance or condition planned, intended, anticipated, estimated or otherwise expected by the Company (collectively, “expectations”) and described in the information in the Company’s forward-looking and other statements, whether expressed or implied. Although the Company believes them to be reasonable, those expectations involve known and unknown risks, uncertainties, and other unpredictable factors (many of which are beyond the Company’s control) that could cause those expectations to fail to occur or be realized or such actual performance or condition to be materially and adversely different from the Company’s expectations. In addition, new risks and uncertainties arise from time to time, and it is impossible for the Company to predict these matters or how they may arise or affect the Company. Accordingly, the Company cannot assure you that its expectations will be achieved in whole or in part, that the Company has identified all potential risks, or that the Company can successfully avoid or mitigate such risks in whole or in part, any of which could be significant and materially adverse to the Company and the value of your investment in SGRP’s Common Stock.
You should also carefully review the risk factors described in the Annual Report (See Item 1A – Risk Factors) and any other risks, cautions or information made, contained or noted in or incorporated by reference into the Annual Report, the Proxy Statement or other applicable SEC Report. All forward-looking and other statements or information attributable to the Company or persons acting on its behalf are expressly subject to and qualified by all such risk factors and other risks, cautions and information.
The Company does not intend or promise, and the Company expressly disclaims any obligation, to publicly update or revise any forward-looking statements, risk factors or other risks, cautions or information (in whole or in part), whether as a result of new information, risks or uncertainties, future events or recognition or otherwise, except as and to the extent required by applicable law.
| Media Contact: | Investor Relations Contact: | |
| Ronald Margulis | Sandy Martin | |
| RAM Communications | Three Part Advisors | |
| 908-272-3930 | 214-616-2207 | |
| ron@rampr.com | smartin@threepa.com | |
- Financial Statements Follow –
| SPAR Group, Inc. and Subsidiaries | ||||||||||||||
| Condensed Consolidated Statements of Income | ||||||||||||||
| (unaudited) | ||||||||||||||
| (In thousands, except per share data) | ||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||
| June 30 | June 30 | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||
| Net revenues | $ | 38,629 | $ | 43,402 | $ | 72,671 | $ | 92,799 | ||||||
| Field Management | 3,106 | 2,460 | 5,440 | 4,701 | ||||||||||
| Direct Expenses | 26,461 | 31,978 | 50,893 | 69,422 | ||||||||||
| Gross profit | 9,062 | 8,964 | 16,338 | 18,676 | ||||||||||
| Selling, general and administrative expense | 7,934 | 8,068 | 13,807 | 15,773 | ||||||||||
| (Gain) loss on sale of business | - | 1,411 | - | (5,746) | ||||||||||
| Depreciation and amortization | 413 | 451 | 780 | 926 | ||||||||||
| Operating income (loss) | 715 | (966) | 1,751 | 7,723 | ||||||||||
| Interest expense | 589 | 590 | 1,058 | 1,066 | ||||||||||
| Other expense (income), net | 7 | (296) | (2) | (288) | ||||||||||
| Income (loss) before income tax expense | 119 | (1,260) | 695 | 6,945 | ||||||||||
| Income tax expense | 120 | 934 | 234 | 2,327 | ||||||||||
| Income (loss) from continuing operations | (1) | (2,194) | 461 | 4,618 | ||||||||||
| Discontinued Operations | ||||||||||||||
| Income from discontinued operations | - | 552 | - | 1,381 | ||||||||||
| Loss on disposal of business | - | (1,188) | - | (1,188) | ||||||||||
| Income tax expense | - | (613) | - | (1,074) | ||||||||||
| Net loss from discontinued operations | - | (1,249) | - | (881) | ||||||||||
| Net income (loss) | (1) | (3,443) | 461 | 3,737 | ||||||||||
| Net income attributable to non-controlling interest | - | (448) | - | (1,002) | ||||||||||
| Net income (loss) attributable to SPAR Group, Inc. | $ | (1) | $ | (3,891) | $ | 461 | $ | 2,735 | ||||||
| Basic earnings (loss) per common share attributable to SPAR Group, Inc. from continuing operations | $ | - | $ | (0.12) | $ | 0.02 | $ | 0.15 | ||||||
| Diluted earnings (loss) per common share attributable to SPAR Group, Inc. from continuing operations | $ | - | $ | (0.11) | $ | 0.02 | $ | 0.16 | ||||||
| Basic loss per common share attributable to SPAR Group, Inc. from discontinued operations | $ | - | $ | (0.05) | $ | - | $ | (0.04) | ||||||
| Diluted loss per common share attributable to SPAR Group, Inc. from discontinued operations | $ | - | $ | (0.05) | $ | - | $ | (0.04) | ||||||
| Basic earnings (loss) per common share attributable to SPAR Group, Inc. | $ | - | $ | (0.17) | $ | 0.02 | $ | 0.11 | ||||||
| Diluted earnings (loss) per common share attributable to SPAR Group, Inc. | $ | - | $ | (0.16) | $ | 0.02 | $ | 0.12 | ||||||
| Weighted-average common shares outstanding– basic | 23,470 | 23,786 | 23,460 | 23,670 | ||||||||||
| Weighted-average common shares outstanding – diluted | 23,499 | 24,010 | 23,532 | 23,873 | ||||||||||
| SPAR Group, Inc. and Subsidiaries | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (unaudited) | |||||||
| (In thousands, except share and per share data) | |||||||
| June 30, | December 31, | ||||||
| 2025 | 2024 | ||||||
| Assets: | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 13,929 | $ | 18,221 | |||
| Accounts receivable, net | 44,370 | 24,766 | |||||
| Prepaid expenses and other current assets | 2,259 | 3,009 | |||||
| Total current assets | 60,558 | 45,996 | |||||
| Property and equipment, net | 2,965 | 2,015 | |||||
| Operating lease right-of-use assets | 477 | 630 | |||||
| Goodwill | 856 | 856 | |||||
| Intangible assets, net | 775 | 841 | |||||
| Deferred income taxes | 4,095 | 4,259 | |||||
| Other assets | 1,834 | 1,834 | |||||
| Total assets | $ | 71,560 | $ | 56,431 | |||
| Liabilities and equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 10,632 | $ | 8,767 | |||
| Accrued expenses and other current liabilities | 7,016 | 3,533 | |||||
| Due to affiliates | - | - | |||||
| Customer incentives and deposits | 1,589 | 892 | |||||
| Lines of credit and short-term loans | 24,701 | 16,082 | |||||
| Current portion of long-term debt | 500 | 500 | |||||
| Current portion of operating lease liabilities | 180 | 276 | |||||
| Total current liabilities | 44,618 | 30,050 | |||||
| Operating lease liabilities, net of current portion | 297 | 353 | |||||
| Long-term debt | 1,753 | 1,722 | |||||
| Total liabilities | 46,668 | 32,125 | |||||
| Commitments and contingencies | |||||||
| Stockholders' equity: | |||||||
| Total stockholders’ equity | 24,892 | 24,306 | |||||
| Total liabilities and stockholders’ equity | $ | 71,560 | $ | 56,431 | |||
| SPAR Group, Inc. and Subsidiaries | |||||||
| Condensed Consolidated Statements of Cash Flows | |||||||
| (unaudited) | |||||||
| (In thousands) | |||||||
| Six Months Ended | |||||||
| June 30 | |||||||
| 2025 | 2024 | ||||||
| Cash flows from operating activities: | |||||||
| Net income | $ | 461 | $ | 3,737 | |||
| Adjustments to reconcile net income to net cash provided by operating activities | |||||||
| Depreciation and amortization | 811 | 926 | |||||
| Amortization of operating lease right-of-use assets | 174 | 310 | |||||
| Provision for expected credit losses | - | 89 | |||||
| Deferred income tax expense | 204 | 1,349 | |||||
| Gain on sale of business | - | (5,746) | |||||
| Share-based compensation expense | 54 | 256 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | (19,012) | (6,199) | |||||
| Prepaid expenses and other current assets | 754 | 171 | |||||
| Change in deferred taxes due to deconsolidation | - | 2,307 | |||||
| Accounts payable | 1,859 | 2,493 | |||||
| Operating lease liabilities | (272) | (310) | |||||
| Accrued expenses, other current liabilities, due to affiliates and customer incentives and deposits | 3,067 | 1,213 | |||||
| Net cash (used in) provided by operating activities of continuing operations | (11,900) | 596 | |||||
| Net cash used in operating activities of discontinued operations | - | (426) | |||||
| Net cash (used in) provided by operating activities | (11,900) | 170 | |||||
| Cash flows from investing activities | |||||||
| Purchases of property and equipment | (959) | (771) | |||||
| Proceeds from the sale of joint ventures | - | 7,982 | |||||
| Net cash provided by (used in) investing activities of continuing operations | (959) | 7,211 | |||||
| Net cash provided by investing activities of discontinued operations | - | 3,751 | |||||
| Net cash (used in) provided by investing activities | (959) | 10,962 | |||||
| Cash flows from financing activities | |||||||
| Borrowings under line of credit | 69,136 | 69,117 | |||||
| Repayments under line of credit | (60,589) | (64,044) | |||||
| Proceeds from term debt | - | 26 | |||||
| Repurchases of common stock | - | (1,800) | |||||
| Payments of notes to seller | - | (1,843) | |||||
| Payments to acquire noncontrolling interests | - | (250) | |||||
| Net cash provided by financing activities of continuing operations | 8,547 | 1,206 | |||||
| Net cash used in financing activities of discontinued operations | - | (1,315) | |||||
| Net cash (used in) provided by financing activities | 8,547 | (109) | |||||
| Effect of foreign exchange rate changes on cash | 20 | (48) | |||||
| Net change in cash, cash equivalents and restricted cash | (4,292) | 10,976 | |||||
| Cash, cash equivalents at beginning of period | 18,221 | 10,719 | |||||
| Cash, cash equivalents at end of period | $ | 13,929 | $ | 21,695 | |||
Reconciliation of GAAP to Non-GAAP Financial Measures
Non-GAAP net income attributable to SPAR Group and related per share amounts represents net income attributable to SPAR Group adjusted for the removal of a one-time positive adjustment. Adjusted EBITDA represents net income before, as applicable from time to time, (i) depreciation and amortization of long-lived assets, (ii) interest expense (iii) income tax expense, (iv) Board of Directors incremental compensation expense, (v) restructuring, (vi) impairment, (vii) nonrecurring legal settlement costs and associated legal expenses unrelated to the Company's core operations, (viii) and special items as determined by management. These metrics are supplemental measures of our operating performance that are neither required by, nor presented in accordance with, GAAP. These measures have limitations as analytical tools and should not be considered in isolation or as an alternative to performance measure derived in accordance with GAAP as an indicator of our operating performance. We present Adjusted net income attributable to SPAR Group and per share amounts, and Adjusted EBITDA because management uses these measures as key performance indicators, and we believe that securities analysts, investors and others use these measures to evaluate companies in our industry. Our calculation of these measures may not be comparable to similarly named measures reported by other companies. The following tables present a reconciliation of net income, the most directly comparable measure calculated in accordance with GAAP, to these measures for the periods presented:
| SPAR Group, Inc. | |||||||||||||||
| Net Income (Loss) attributable to SPAR Group, Inc. to | |||||||||||||||
| non-GAAP Net Income (Loss) attributable to SPAR Group, Inc. Reconciliation | |||||||||||||||
| Diluted earnings per share attributable to SPAR Group, Inc. to | |||||||||||||||
| non-GAAP Diluted earnings per share attributable to SPAR Group, Inc. Reconciliation | |||||||||||||||
| (In thousands) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30 | June 30 | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net income (loss) attributable to SPAR Group Inc. | $ | (1 | ) | $ | (3,891 | ) | $ | 461 | $ | 2,735 | |||||
| Adjustments to Consolidated EBITDA (net of taxes)* | 146 | 1,473 | 220 | (3,820 | ) | ||||||||||
| Adjusted net income (loss) attributable to SPAR Group, Inc. | $ | 145 | $ | (2,418 | ) | $ | 681 | $ | (1,085 | ) | |||||
| Diluted income (loss) per common share attributable to SPAR Group, Inc. | $ | - | $ | (0.16 | ) | $ | 0.02 | $ | 0.12 | ||||||
| Adjustments to consolidated EBITDA per share (net of taxes) | 0.01 | 0.06 | 0.01 | (0.17 | ) | ||||||||||
| Adjusted diluted income (loss) per common share attributable to SPAR Group, Inc. | $ | 0.01 | $ | (0.10 | ) | $ | 0.03 | $ | (0.05 | ) | |||||
| * 2025 Q2 Adjustments to Consolidated EBITDA include | |||||||||||||||
| SPAR Group, Inc. | ||||||||||||||||
| Net Income (Loss) to Consolidated Adjusted EBITDA to Adjusted EBITDA attributable to SPAR Group, Inc. Reconciliation | ||||||||||||||||
| (In thousands) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30 | June 30 | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Consolidated net income (loss) | $ | (1 | ) | $ | (2,194 | ) | $ | 461 | $ | 4,618 | ||||||
| Depreciation and amortization | 413 | 451 | 780 | 926 | ||||||||||||
| Interest expense | 589 | 590 | 1,058 | 1,066 | ||||||||||||
| Income tax expense | 120 | 934 | 234 | 2,327 | ||||||||||||
| Other expense (income), net | 7 | (296 | ) | (2 | ) | (288 | ) | |||||||||
| EBITDA of discontinued operations | - | 556 | - | 1,475 | ||||||||||||
| Consolidated EBITDA | 1,128 | 41 | 2,531 | 10,124 | ||||||||||||
| Review of strategic alternatives | 144 | 325 | 210 | 655 | ||||||||||||
| Legal costs | 14 | - | 14 | - | ||||||||||||
| Gain (loss) on sale of business | - | 1,411 | - | (5,746 | ) | |||||||||||
| Share-based compensation | 27 | 128 | 54 | 256 | ||||||||||||
| Consolidated Adjusted EBITDA | 1,313 | 1,905 | 2,809 | 5,289 | ||||||||||||
| Adjusted EBITDA attributable to non controlling interest | - | (525 | ) | - | (1,443 | ) | ||||||||||
| Adjusted EBITDA attributable to SPAR Group, Inc. | $ | 1,313 | $ | 1,380 | $ | 2,809 | $ | 3,846 | ||||||||
Source: SPAR Group, Inc.
FAQ
What were SPAR Group's (SGRP) Q2 2025 revenue and earnings?
How much did SPAR Group's gross margins improve in Q2 2025?
What is SPAR Group's current liquidity position as of June 30, 2025?
How much potential future business is in SPAR Group's pipeline?
What was SPAR Group's operating cash flow in H1 2025?
