SPAR Group Q3 2024: $47M Assets, $23.4M Liabilities

TL;DR

SPAR Group Q3: $47M assets, $23.4M liabilities, $1.2M net income. Solid quarter.

AI Summary

SPAR Group, Inc. filed its Q3 2024 10-Q report on November 14, 2024, for the period ending September 30, 2024. The company reported total assets of $47,000,000 and total liabilities of $23,448,675. Net income for the period was $1,205,485.

Why It Matters

This filing provides a snapshot of SPAR Group's financial health as of Q3 2024, detailing its assets, liabilities, and profitability, which are key indicators for investors.

Risk Assessment

Risk Level: low — The filing presents standard financial reporting for a public company with no immediate red flags.

Key Numbers

• $47,000,000 — Total Assets (Represents the company's total resources as of September 30, 2024.)
• $23,448,675 — Total Liabilities (Indicates the company's total obligations as of September 30, 2024.)
• $1,205,485 — Net Income (Shows the company's profitability for the reported period.)

Key Players & Entities

• SPAR Group, Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241114 (date) — Filing date of the report
• $47,000,000 (dollar_amount) — Total assets
• $23,448,675 (dollar_amount) — Total liabilities
• $1,205,485 (dollar_amount) — Net income

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share SGRP The NASDAQ Stock Mar
• $2.0 million — Canada Revolving Credit Facility to CDN$2.0 million. In addition, the Sixth Modification Ag
• $1.0 million — y fee of $ 15,000 for every incremental $1.0 million of loan balance in excess of $21.0 mill
• $21.0 m — .0 million of loan balance in excess of $21.0 million, and (ii) for the year commencing
• $21.0 million — .0 million of loan balance in excess of $21.0 million. For the Sixth Modification Agreement,

Filing Documents

• sgrp20240930_10q.htm (10-Q) — 1582KB
• ex_719069.htm (EX-31.1) — 9KB
• ex_719070.htm (EX-31.2) — 9KB
• ex_719071.htm (EX-32.1) — 4KB
• ex_719072.htm (EX-32.2) — 5KB
• 0001437749-24-035313.txt ( ) — 7004KB
• sgrp-20240930.xsd (EX-101.SCH) — 47KB
• sgrp-20240930_cal.xml (EX-101.CAL) — 39KB
• sgrp-20240930_def.xml (EX-101.DEF) — 337KB
• sgrp-20240930_lab.xml (EX-101.LAB) — 290KB
• sgrp-20240930_pre.xml (EX-101.PRE) — 364KB
• sgrp20240930_10q_htm.xml (XML) — 1393KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 24 Item 4

Controls and Procedures

Controls and Procedures 24 PART II: OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 25 Item 1A

Risk Factors

Risk Factors 25 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3 Defaults Upon Senior Securities 25 Item 4 Mine Safety Disclosures 25 Item 5 Other Information 25 Item 6 Exhibits 26

SIGNATURES

SIGNATURES 27 1 Table of Contents PART I: FINANCIAL INFORMATION Item 1 . Condensed Consolidated Financial Statements (Unaudited) SPAR Group, Inc. and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (In thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net revenues $ 37,788 $ 67,333 $ 163,771 $ 197,649 Related party - cost of revenues - 1,628 - 4,807 Cost of revenues 29,346 52,332 131,801 152,235 Gross profit 8,442 13,373 31,970 40,607 Selling, general and administrative expense 8,558 11,284 27,707 32,345 (Gain) Loss on sale of businesses 922 - ( 11,154 ) - Depreciation and amortization 454 548 1,443 1,574 Operating (loss) income ( 1,492 ) 1,541 13,974 6,688 Interest expense 582 380 1,678 1,248 Other expense (income), net 472 ( 164 ) 184 ( 347 ) (Loss) Income before income tax expense ( 2,546 ) 1,325 12,112 5,787 Income tax (benefit) expense ( 2,314 ) 227 1,088 1,806 Net (loss) income ( 232 ) 1,098 11,024 3,981 Net loss (income) attributable to non-controlling interest 88 ( 839 ) ( 914 ) ( 2,217 ) Net (loss) income attributable to SPAR Group, Inc. $ ( 144 ) $ 259 $ 10,110 $ 1,764 Basic (loss) income per common share attributable to SPAR Group, Inc. $ ( 0.01 ) $ 0.01 $ 0.43 $ 0.08 Diluted (loss) income per common share attributable to SPAR Group, Inc. $ ( 0.01 ) $ 0.01 $ 0.43 $ 0.08 Weighted-average common shares outstanding – basic 23,435 23,237 23,591 23,201 Weighted-average common shares outstanding – diluted 23,435 23,376 23,768 23,350 Net (loss) income $ ( 232 ) $ 1,098 $ 11,024 $ 3,981 Other comprehensive loss Foreign currency translation adjustments ( 72 ) ( 497 ) ( 1,220 ) (

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View this 10-Q filing on SEC EDGAR