Every 10-Q that SPAR GROUP INC (SGRP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SGRP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SGRP filings page.
SPAR Group, Inc. reported softer top-line results for the quarter ended June 30, 2026. Net revenue was $36.9 million, down 4.5% from $38.6 million a year earlier, while gross margin held nearly steady at about 23%. Quarterly net income was $0.4 million versus breakeven in the prior-year quarter. For the first six months, revenue declined 7.2% to $67.4 million and the Company recorded a small net loss of $0.1 million compared with net income of $0.5 million in 2025.
SG&A fell year over year, reflecting cost‑saving measures, and Adjusted EBITDA for the first half was $2.9 million, little changed from $2.8 million a year earlier. Cash and cash equivalents were $2.9 million, with $26.7 million outstanding under lines of credit and $5.0 million of unsecured debt, including a new $4.0 million unsecured loan from PC Group that carries an embedded derivative liability of $0.3 million. The Company also issued 3.19 million shares to ReposiTrak (TRAK) and previously 1.0 million shares to PC Group as non‑cash consideration, increasing equity to $3.2 million.
Management continues to maintain a $7.6 million valuation allowance against deferred tax assets. Disclosure controls and procedures were deemed not effective due to material weaknesses in internal control over financial reporting. The Company also disclosed new shareholder litigation and a related arbitration and stated it is evaluating these matters as non‑recognized subsequent events.
SPAR Group, Inc. reported weaker results for the quarter ended March 31, 2026, as net revenues fell to $30.5 million from $34.0 million, a 10.3% decline driven mainly by softer U.S. remodel activity. Despite slightly higher gross margin, higher selling, general and administrative costs and $0.2 million of restructuring and severance led to an operating loss.
The Company swung to a net loss of $0.6 million, or $(0.02) per share, compared with net income of $0.5 million, or $0.02 per share, a year earlier. Adjusted EBITDA decreased to $0.7 million from $1.5 million, reflecting lower volume and higher overhead.
SPAR increased its use of financing, with lines of credit rising to $22.9 million and total unsecured debt to $5.0 million, including a new $4.0 million unsecured loan from PC Group that came with 1,000,000 common shares as equity consideration. Management believes existing credit facilities and cash flows can support near-term needs, but disclosure controls and procedures were deemed not effective due to material weaknesses in internal control over financial reporting.
SPAR Group, Inc. (SGRP) reported operational and balance sheet details in its Form 10-Q for the quarter ended June 30, 2025. The company had 23,489,752 shares issued and outstanding as of June 30, 2025 (23,449,701 at Dec 31, 2024) and 47,000,000 shares authorized. Consolidated debt under revolving credit facilities totaled approximately $24.7 million (US: $23.2 million; Canada: $1.5 million), with aggregate interest rates and facility fees described in the agreement. The NM Credit Facility matures October 10, 2025; the company is evaluating refinancing and believes near-term liquidity is sufficient but noted no assurance that future funding will be available.
The company disclosed a pre-tax gain of approximately $7.2 million from the sale of its 51% Meridian interest in Q1 2024 and recorded several divestiture losses in 2024 (Brazil ~$1.2M, Shanghai ~$1.1M, Japan ~$0.7M, India ~$1.4M, Mexico ~$1.1M). As of June 30, 2025, $2.3 million remained outstanding on a promissory note related to acquisitions and is reported in current and long-term debt. Share-based and phantom stock compensation expense recognized for the six months ended June 30, 2025 included $49,667 (RSUs), $2,237 (stock options) and $466,301 (Phantom Awards). The company is evaluating the impact of ASU 2024-03 on expense disaggregation disclosures.