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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net revenues $ 57,290 $ 65,936 $ 125,984 $ 130,316
Related party - cost of revenues 0 1,682 0 3,179
Cost of revenues 46,297 51,158 102,448 99,903
Gross profit 10,993 13,096 23,536 27,234
Selling, general and administrative expense 9,541 10,605 19,158 21,061
Gain on sale of business (4,919) 0 (12,076) 0
Depreciation and amortization 478 494 989 1,026
Operating income 5,893 1,997 15,465 5,147
Interest expense 567 478 1,097 868
Other income, net (296) (125) (288) (183)
Income before income tax expense 5,622 1,644 14,656 4,462
Income tax expense 1,547 538 3,401 1,579
Net income 4,075 1,106 11,255 2,883
Net income attributable to non-controlling interest (448) (467) (1,002) (1,378)
Net income attributable to SPAR Group, Inc. $ 3,627 $ 639 $ 10,253 $ 1,505
Basic income per common share attributable to SPAR Group, Inc. (in dollars per share) $ 0.15 $ 0.03 $ 0.43 $ 0.06
Diluted income per common share attributable to SPAR Group, Inc. (in dollars per share) $ 0.15 $ 0.03 $ 0.43 $ 0.06
Weighted-average common shares outstanding – basic (in shares) 23,786 23,250 23,670 23,182
Weighted-average common shares outstanding – diluted (in shares) 24,010 23,392 23,873 23,337
Net income $ 4,075 $ 1,106 $ 11,255 $ 2,883
Other comprehensive income        
Foreign currency translation adjustments 1,372 (39) (1,148) 138
Comprehensive income 5,447 1,067 10,107 3,021
Comprehensive (income) loss attributable to non-controlling interest (393) (97) 97 (1,100)
Comprehensive income attributable to SPAR Group, Inc. $ 5,054 $ 970 $ 10,204 $ 1,921