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Note 9 - Segment Information
 3 Months Ended
Mar. 31, 2024
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,

 
  

2024

  

2023

 

Net revenues:

        

Americas

 $54,655  $48,578 

APAC

  5,761   6,100 

EMEA

  8,277   9,702 

Total net revenues

 $68,693  $64,380 
         

Operating income:

        

Americas

 $9,427  $2,521 

APAC

  (216)  (192)

EMEA

  361   821 

Total operating income

 $9,572  $3,150 
         

Interest expense:

        

Americas

 $426  $274 

APAC

  13   (1)

EMEA

  91   117 

Total interest expense, net

 $530  $390 
         

Other expense (income), net:

        

Americas

 $(15) $28 

APAC

  32   (6)

EMEA

  (10)  (80)

Total other income, net

 $7  $(58)
         

Income before income tax expense:

        

Americas

 $9,461  $2,219 

APAC

  531   (185)

EMEA

  (957)  784 

Total income before income tax expense

 $9,035  $2,818 
         

Income tax expense:

        

Americas

 $1,777  $755 

APAC

  8   21 

EMEA

  69   265 

Total income tax expense

 $1,854  $1,041 

 

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,

 

Net income (loss):

        

Americas

 $7,685  $1,464 

APAC

  523   (206)

EMEA

  (1,027)  519 

Total net income

 $7,181  $1,777 
         

Net income (loss) attributable to non-controlling interest

        

Americas

 $282  $485 

APAC

  (18)  4 

EMEA

  290   422 

Total net income attributable to non-controlling interest

 $554  $911 
         

Net income attributable to SPAR Group, Inc.

        

Americas

 $7,403  $979 

APAC

  541   (210)

EMEA

  (1,317)  97 

Total net income attributable to SPAR Group, Inc.

 $6,627  $866 
         

Depreciation and amortization

        

Americas

 $442  $462 

APAC

  32   13 

EMEA

  37   57 

Total depreciation and amortization

 $511  $532 
         

Capital expenditures:

        

Americas

 $416  $289 

APAC

  11   5 

EMEA

  5   49 

Total capital expenditures

 $432  $343 

 

There were no intercompany sales for the three months ended March 31, 2024 and 2023.

 

Total assets of the Company’s reportable segments as of the periods presented were (in thousands):

 

  

March 31,

  

December 31,

 
  

2024

  

2023

 

Assets:

        

Americas

 $98,820  $71,372 

APAC

  5,711   13,361 

EMEA

  –   5,548 

Total assets

 $104,531  $90,281 

 

Long-lived assets of the Company’s reportable segments as of the periods presented were (in thousands):

 

  

March 31,

  

December 31,

 
  

2024

  

2023

 

Long lived assets:

        

Americas

 $4,408  $4,585 

APAC

  42   1,015 

EMEA

  -   745 

Total long lived assets

 $4,450  $6,345 

 

Geographic Data (in thousands)

 

  

Three Months Ended March 31,

 
  

2024

  

2023

 
      

% of

      

% of

 
      

consolidated

      

consolidated

 
      

net revenue

      

net revenue

 

United States

 $28,822   42.0% $26,194   40.7%

Brazil

  19,297   28.1%  18,082   28.1%

South Africa

  8,277   12.0%  9,701   15.1%

Mexico

  3,267   4.8%  2,472   3.8%

China

  2,698   3.9%  2,677   4.2%

Japan

  1,418   2.1%  1,553   2.4%

Canada

  3,269   4.8%  1,830   2.8%

India

  1,645   2.4%  1,406   2.2%

Australia

  -   0.0%  465   0.7%

Total net revenue

 $68,693   100.0% $64,380   100.0%