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Note 9 - Segment Information
 6 Months Ended
Jun. 30, 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

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2024

  

2023

  

2024

  

2023

 

Net revenues:

                

Americas

 $54,041  $52,083  $108,696  $100,661 

APAC

  3,249   5,658   9,011   11,758 

EMEA

  -   8,195   8,277   17,897 

Total net revenues

 $57,290  $65,936  $125,984  $130,316 
                 

Operating income:

                

Americas

 $6,071  $2,038  $15,573  $4,553 

APAC

  (178)  (97)  (407)  (289)

EMEA

  -   56   299   883 

Total operating income

 $5,893  $1,997  $15,465  $5,147 
                 

Interest expense

                

Americas

 $570  $357  $996  $631 

APAC

  11   17   24   16 

EMEA

  (14)  104   77   221 

Total interest expense

 $567  $478  $1,097  $868 
                 

Other income, net:

                

Americas

 $(281) $(12) $(295) $17 

APAC

  (15)  (4) $17   (10)

EMEA

  -   (109)  (10)  (190)

Total other income, net

 $(296) $(125) $(288) $(183)
                 

Income before income tax expense:

                

Americas

 $4,167  $1,693  $13,829  $3,905 

APAC

  1,455   (110)  1,950   (295)

EMEA

  -   61   (1,123)  852 

Total income before income tax expense

 $5,622  $1,644  $14,656  $4,462 
                 

Income tax expense:

                

Americas

 $1,187  $456  $2,857  $1,223 

APAC

  39   (53)  67   (35)

EMEA

  321   135   477   391 

Total income tax expense

 $1,547  $538  $3,401  $1,579 

 

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   Six Months Ended 
   June 30,   June 30, 
   2024   2023   2024   2023 

Net income (loss):

                

Americas

 $2,980  $1,237  $10,972  $2,682 

APAC

  1,416   (57)  1,882   (260)

EMEA

  (321)  (74)  (1,599)  461 

Total net income

 $4,075  $1,106  $11,255  $2,883 
                 

Net income (loss) attributable to non-controlling interest

                

Americas

 $(475) $(394) $(757) $(879)

APAC

 $27   (12)  45   (16)

EMEA

 $-   (61)  (290)  (483)

Total net income attributable to non-controlling interest

 $(448) $(467) $(1,002) $(1,378)
                 

Net income attributable to SPAR Group, Inc.

                

Americas

 $2,505  $843  $10,215  $1,803 

APAC

  1,443   (69)  1,927   (276)

EMEA

  (321)  (135)  (1,889)  (22)

Total net income attributable to SPAR Group, Inc.

 $3,627  $639  $10,253  $1,505 
                 

Depreciation and amortization

                

Americas

 $453  $466  $894  $930 

APAC

  25   12   57   24 

EMEA

  -   16   38   72 

Total depreciation and amortization

 $478  $494  $989  $1,026 
                 

Capital expenditures:

                

Americas

 $360  $371  $776  $660 

APAC

  –   3   –   6 

EMEA

  –   2   5   51 

Total capital expenditures

 $360  $376  $781  $717 

 

There were no intercompany sales for the three and six months ended June 30, 2024 and 2023.

 

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

 

  

June 30,

  

December 31,

 
  

2024

  

2023

 

Assets:

        

Americas

 $65,263  $71,372 

APAC

  4,762   13,361 

EMEA

  –   5,548 

Total assets

 $70,025  $90,281 

 

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

 

  

June 30,

  

December 31,

 
  

2024

  

2023

 

Long lived assets:

        

Americas

 $4,407  $4,585 

APAC

  16   1,015 

EMEA

  –   745 

Total long lived assets

 $4,423  $6,345 

 

Geographic Data (in thousands)

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2024

  

2023

  

2024

  

2023

 
      

% of

      

% of

      

% of

      

% of

 
      

consolidated

      

consolidated

      

consolidated

      

consolidated

 
      

net revenue

      

net revenue

      

net revenue

      

net revenue

 

United States

 $32,993   57.7% $26,088   39.6% $61,816   49.1% $52,281   40.1%

Brazil

  13,888   24.2%  20,016   30.4%  33,185   26.3%  38,098   29.2%

South Africa

  -   0.0%  8,195   12.4%  8,277   6.6%  17,897   13.7%

Mexico

  3,260   5.7%  2,559   3.9%  6,527   5.2%  5,032   3.9%

China

  -   0.0%  2,225   3.4%  2,698   2.1%  4,901   3.8%

Japan

  1,452   2.5%  1,491   2.3%  2,870   2.3%  3,044   2.3%

Canada

  3,900   6.8%  3,420   5.2%  7,169   5.7%  5,250   4.0%

India

  1,797   3.1%  1,437   2.2%  3,442   2.7%  2,843   2.2%

Australia

  -   0.0%  505   0.8%  -   0.0%  970   0.7%

Total net revenue

 $57,290   100.0% $65,936   100.0% $125,984   100.0% $130,316   100.0%