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Note 13 - Segment Information
 9 Months Ended
Sep. 27, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

13.

Segment Information

 

The Company follows ASC 280, “Segment Reporting,” which establishes standards for companies to report information about operating segments, geographic areas and major customers. The accounting policies of each reportable segment are the same as those described in the summary of significant accounting policies (see Note 1 to the Company’s Consolidated Financial Statements).

 

The Company reports segment information based on the management approach, which designates the internal reporting used by the Chief Operating Decision Makers (“CODMs”), who were Bradley Vizi, Chief Executive Officer, and Kevin Miller, Chief Financial Officer. The Company’s CODMs are responsible for making decisions regarding the Company’s business, including resource allocations and performance assessments based on historical and future segment revenue, operating expenses, and operating income (loss) before interest and taxes.

 

In the second quarter of 2025, the Company made certain revisions to the internal measurement of segment operating results for the purpose of evaluating segment performance and resource allocation. The revised segment reporting now presents corporate operating costs separately instead of allocating them to the operating segments. The revision was the result of a shift in the CODM’s more granular and independent focus on the now four segments. We have presented 2025 segment operating results herein using the new methodology and prior period disclosures have been revised to present results on a comparable basis.

 

The following tables summarize the results of operations and total assets by segment provided to the CODMs. Segment operating income (loss) includes selling, general, and administrative expenses directly attributable to that segment. The following tables reflect the results of the reportable segments consistent with the Company’s management system:

 

Thirteen Weeks Ended

September 27, 2025

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $30,000  $31,419  $8,870  $-  $70,289 

Cost of services

  21,010   24,507   5,362   -   50,879 

Gross profit

  8,990   6,912   3,508   -   19,410 

Selling, general and administrative

  6,205   2,945   1,411   4,372   14,933 

Depreciation and amortization of property and equipment

  83   217   34   205   539 

Operating income (loss)

 $2,702  $3,750  $2,063  $(4,577) $3,938 

Total assets as of September 27, 2025

 $48,018  $56,313  $16,918  $8,566  $129,815 

Property and equipment acquired

 $65  $140  $-  $293  $498 

 

 

Thirteen Weeks Ended

September 28, 2024

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $26,554  $24,167  $9,644  $-  $60,365 

Cost of services

  18,271   18,273   5,980   -   42,524 

Gross profit

  8,283   5,894   3,664   -   17,841 

Selling, general and administrative

  4,947   2,872   1,647   3,552   13,018 

Depreciation and amortization of property and equipment

  102   168   41   82   393 

Amortization of acquired intangible assets

  -   -   45   -   45 

Operating income (loss)

 $3,234  $2,854  $1,931  $(3,634) $4,385 

Total assets as of September 28, 2024

 $40,525  $52,321  $21,681  $11,018  $125,545 

Property and equipment acquired

 $68  $378  $-  $76  $522 

 

 

Thirty-Nine Weeks Ended

September 27, 2025

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $116,105  $90,082  $26,741  $-  $232,928 

Cost of services

  82,634   70,496   16,133   -   169,263 

Gross profit

  33,471   19,586   10,608   -   63,665 

Selling, general and administrative

  18,249   9,095   4,326   13,509   45,179 

Depreciation and amortization of property and equipment

  270   547   112   435   1,364 

Operating income (loss)

 $14,952  $9,944  $6,170  $(13,944) $17,122 

Total assets as of September 27, 2025

 $48,018  $56,313  $16,918  $8,566  $129,815 

Property and equipment acquired

 $194  $382  $32  $790  $1,398 

 

 

Thirty-Nine Weeks Ended

September 28, 2024

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $101,668  $70,180  $29,620  $-  $201,468 

Cost of services

  71,672   52,818   18,769   -   143,259 

Gross profit

  29,996   17,362   10,851   -   58,209 

Selling, general and administrative

  15,701   8,684   5,378   10,999   40,762 

Depreciation and amortization of property and equipment

  282   444   109   177   1,012 

Amortization of acquired intangible assets

  -   -   136   -   136 

Potential stock issuance and financial transactions

  -   -   -   259   259 

Operating income (loss)

 $14,013  $8,234  $5,228  $(11,435) $16,040 

Total assets as of September 28, 2024

 $40,525  $52,321  $21,681  $11,018  $125,545 

Property and equipment acquired

  235  $622  $20  $712  $1,589 

 

The Company derives a majority of its revenue from offices in the United States. Revenues reported for each operating segment are all from external customers. The Company is domiciled in the United States and its segments operate in the United States, Canada, Puerto Rico, Europe and Philippines. Revenue by geographic area for the thirteen and thirty-nine weeks ended September 27, 2025 and September 28, 2024 was as follows:

 

  

Thirteen Weeks Ended

  

Thirty-Nine Weeks Ended

 
  

September 27,

2025

  

September 28,

2024

  

September 27,

2025

  

September 28,

2024

 

Revenue

                

United States

 $61,374  $55,322  $213,438  $185,742 

Canada

  1,749   1,895   5,608   4,982 

Puerto Rico

  1,523   1,568   4,674   5,588 

Europe

  5,643   1,580   9,208   5,156 
  $70,289  $60,365  $232,928  $201,468 

 

 

Total assets by geographic area as of the reported periods were as follows:

 

  

September 27,

2025

  

December 28,

2024

 

Total assets

        

United States

 $121,267  $123,905 

Canada

  1,770   1,423 

Puerto Rico

  2,475   3,286 

Europe

  4,013   3,408 

Philippines

  290   55 
  $129,815  $132,077