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Note 9 - Segment Information | 3 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
9. | Segment Information
Select statement of operations activity of the Company’s reportable segments for the periods presented were (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Net revenues: |  |  |  |  |  |  |  |
Americas |  | $ | 48,578 |  |  | $ | 42,978 |
APAC |  |  | 6,100 |  |  |  | 6,818 |
EMEA |  |  | 9,702 |  |  |  | 9,198 |
Total net revenues |  | $ | 64,380 |  |  | $ | 58,994 |
Operating income: |  |  |  |  |  |  |  |
Americas |  | $ | 2,521 |  |  | $ | 1,780 |
APAC |  |  | (192 | ) |  |  | (441 | )
EMEA |  |  | 821 |  |  |  | 728 |
Total operating income |  | $ | 3,150 |  |  | $ | 2,067 |
Interest expense, net: |  |  |  |  |  |  |  |
Americas |  | $ | 274 |  |  | $ | 101 |
APAC |  |  | (1 | ) |  |  | (1 | )
EMEA |  |  | 117 |  |  |  | 49 |
Total interest expense, net |  | $ | 390 |  |  | $ | 149 |
Other income, net: |  |  |  |  |  |  |  |
Americas |  | $ | 28 |  |  | $ | (7 | )
APAC |  |  | (6 | ) |  |  | (16 | )
EMEA |  |  | (80 | ) |  |  | (64 | )
Total other income, net |  | $ | (58 | ) |  | $ | (87 | )
Income before income tax expense: |  |  |  |  |  |  |  |
Americas |  | $ | 2,219 |  |  | $ | 1,686 |
APAC |  |  | (185 | ) |  |  | (424 | )
EMEA |  |  | 784 |  |  |  | 743 |
Total income before income tax expense |  | $ | 2,818 |  |  | $ | 2,005 |
Income tax expense: |  |  |  |  |  |  |  |
Americas |  | $ | 755 |  |  | $ | 370 |
APAC |  |  | 21 |  |  |  | (6 | )
EMEA |  |  | 265 |  |  |  | 187 |
Total income tax expense |  | $ | 1,041 |  |  | $ | 551 |
Net income, depreciation and amortization expense, and capital expenditures of the Company’s reportable segments for the periods presented were (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  |  | 2023 |  |  |  | 2022 |
Net income (loss): |  |  |  |  |  |  |  |
Americas |  | $ | 1,464 |  |  | $ | 1,316 |
APAC |  |  | (206 | ) |  |  | (418 | )
EMEA |  |  | 519 |  |  |  | 556 |
Total net income |  | $ | 1,777 |  |  | $ | 1,454 |
Net (income) loss attributable to non-controlling interest |  |  |  |  |  |  |  |
Americas |  | $ | (485 | ) |  | $ | (548 | )
APAC |  |  | (4 | ) |  |  | 153 |
EMEA |  |  | (422 | ) |  |  | (385 | )
Total net income attributable to non-controlling interest |  | $ | (911 | ) |  | $ | (780 | )
Net income attributable to SPAR Group, Inc. |  |  |  |  |  |  |  |
Americas |  | $ | 979 |  |  | $ | 768 |
APAC |  |  | (210 | ) |  |  | (265 | )
EMEA |  |  | 97 |  |  |  | 171 |
Total net income attributable to SPAR Group, Inc. |  | $ | 866 |  |  | $ | 674 |
Depreciation and amortization |  |  |  |  |  |  |  |
Americas |  | $ | 462 |  |  | $ | 485 |
APAC |  |  | 13 |  |  |  | 14 |
EMEA |  |  | 57 |  |  |  | 11 |
Total depreciation and amortization |  | $ | 532 |  |  | $ | 510 |
Capital expenditures: |  |  |  |  |  |  |  |
Americas |  | $ | 289 |  |  | $ | 466 |
APAC |  |  | 5 |  |  |  | 5 |
EMEA |  |  | 49 |  |  |  | 7 |
Total capital expenditures |  | $ | 343 |  |  | $ | 478 |
There were no intercompany sales for the three months ended March 31, 2023 and 2022. Total assets of the Company’s reportable segments as of the periods presented were (in thousands):
|  | March 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Assets: |  |  |  |  |  |  |  |
Americas |  | $ | 76,368 |  |  | $ | 75,440 |
APAC |  |  | 5,332 |  |  |  | 5,952 |
EMEA |  |  | 13,644 |  |  |  | 13,206 |
Total assets |  | $ | 95,344 |  |  | $ | 94,598 |
Long-lived assets of the Company’s reportable segments as of the periods presented were (in thousands):
|  | March 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Long lived assets: |  |  |  |  |  |  |  |
Americas |  | $ | 4,323 |  |  | $ | 4,605 |
APAC |  |  | 1,683 |  |  |  | 1,244 |
EMEA |  |  | 284 |  |  |  | 315 |
Total long lived assets |  | $ | 6,290 |  |  | $ | 6,164 |
Geographic Data (in thousands)
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
|  |  |  |  |  | % of |  |  |  |  |  |  | % of |
|  |  |  |  |  | consolidated |  |  |  |  |  |  | consolidated |
|  |  |  |  |  | net revenue |  |  |  |  |  |  | net revenue |
United States |  | $ | 26,194 |  |  |  | 40.7 | % |  | $ | 23,353 |  |  |  | 39.7 | %
Brazil |  |  | 18,082 |  |  |  | 28.1 |  |  |  | 15,568 |  |  |  | 26.4 |
South Africa |  |  | 9,701 |  |  |  | 15.1 |  |  |  | 9,198 |  |  |  | 15.6 |
Mexico |  |  | 2,472 |  |  |  | 3.8 |  |  |  | 2,410 |  |  |  | 4.1 |
China |  |  | 2,677 |  |  |  | 4.2 |  |  |  | 2,860 |  |  |  | 4.8 |
Japan |  |  | 1,553 |  |  |  | 2.4 |  |  |  | 2,023 |  |  |  | 3.4 |
Canada |  |  | 1,830 |  |  |  | 2.8 |  |  |  | 1,647 |  |  |  | 2.8 |
India |  |  | 1,406 |  |  |  | 2.2 |  |  |  | 1,616 |  |  |  | 2.7 |
Australia |  |  | 465 |  |  |  | 0.7 |  |  |  | 319 |  |  |  | 0.5 |
Total net revenue |  | $ | 64,380 |  |  |  | 100.0 | % |  | $ | 58,994 |  |  |  | 100.0 | %

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