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Note 9 - Segment Information
 9 Months Ended
Sep. 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

  

Nine Months Ended

 
  

September 30,

  

September 30,

 
  

2024

  

2023

  

2024

  

2023

 

Net revenues:

                

Americas

 $35,494  $53,796  $144,189  $154,457 

APAC

  2,294   5,674   11,305   17,432 

EMEA

  -   7,863   8,277   25,760 

Total net revenues

 $37,788  $67,333  $163,771  $197,649 
                 

Operating (loss) income:

                

Americas

 $(1,089) $1,328  $14,569  $5,894 

APAC

  (403)  (218)  (822)  (510)

EMEA

  -   431   227   1,304 

Total operating (loss) income

 $(1,492) $1,541  $13,974  $6,688 
                 

Interest expense

                

Americas

 $581  $264  $1,577  $895 

APAC

  1   31   24   47 

EMEA

  -   85   77   306 

Total interest expense

 $582  $380  $1,678  $1,248 
                 

Other expense (income), net:

                

Americas

 $(807) $5  $(1,101) $22 

APAC

  556   (59) $572   (69)

EMEA

  723   (110)  713   (300)

Total other expense (income), net

 $472  $(164) $184  $(347)
                 

(Loss) Income before income tax expense:

                

Americas

 $(82) $1,059  $13,666  $4,977 

APAC

  (1,752)  (190)  209   (488)

EMEA

  (712)  456   (1,763)  1,298 

Total (loss) income before income tax expense

 $(2,546) $1,325  $12,112  $5,787 
                 

Income tax (benefit) expense:

                

Americas

 $(1,827) $(163) $1,220  $1,068 

APAC

  (166)  45   (126)  8 

EMEA

  (321)  345   (6)  730 

Total income tax (benefit) expense

 $(2,314) $227  $1,088  $1,806 

 

Net (loss) income, depreciation and amortization expense, and capital expenditures of the Company’s reportable segments for the periods presented were (in thousands):

 

  Three Months Ended  Nine Months Ended 
  September 30,  September 30, 
  2024  2023  2024  2023 

Net (loss) income:

                

Americas

 $1,745  $1,222  $12,446  $3,909 

APAC

  (1,586)  (235)  335   (496)

EMEA

  (391)  111   (1,757)  568 

Total net (loss) income

 $(232) $1,098  $11,024  $3,981 
                 

Net loss (income) attributable to non-controlling interest

                

Americas

 $104  $(604) $(658) $(1,484)

APAC

  (16)  5   30   (11)

EMEA

  -   (240)  (286)  (722)

Total net loss (income) attributable to non-controlling interest

 $88  $(839) $(914) $(2,217)
                 

Net (loss) income attributable to SPAR Group, Inc.

                

Americas

 $1,849  $618  $11,788  $2,425 

APAC

  (1,602)  (230)  365   (507)

EMEA

  (391)  (129)  (2,043)  (154)

Total net (loss) income attributable to SPAR Group, Inc.

 $(144) $259  $10,110  $1,764 
                 

Depreciation and amortization

                

Americas

 $445  $472  $1,348  $1,402 

APAC

  9   36   64   60 

EMEA

  -   40   31   112 

Total depreciation and amortization

 $454  $548  $1,443  $1,574 
                 

Capital expenditures:

                

Americas

 $127  $286  $903  $946 

APAC

  –   30   –   37 

EMEA

  –   49   5   100 

Total capital expenditures

 $127  $365  $908  $1,083 

 

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

 

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

 

  

September 30,

  

December 31,

 
  

2024

  

2023

 

Assets:

        

Americas

 $62,634  $71,372 

APAC

  4,762   13,361 

EMEA

  –   5,548 

Total assets

 $67,396  $90,281 

 

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

 

  

September 30,

  

December 31,

 
  

2024

  

2023

 

Long lived assets:

        

Americas

 $4,073  $4,585 

APAC

  –   1,015 

EMEA

  –   745 

Total long lived assets

 $4,073  $6,345 

 

Geographic Data (in thousands)

 

  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2024

  

2023

  

2024

  

2023

 
      

% of

      

% of

      

% of

      

% of

 
      

consolidated

      

consolidated

      

consolidated

      

consolidated

 
      

net revenue

      

net revenue

      

net revenue

      

net revenue

 

United States

 $28,768   76.1% $28,722   42.7% $90,583   55.3% $81,004   41.0%

Brazil

  -   0.0%  18,619   27.7%  33,185   20.3%  56,717   28.7%

South Africa

  -   0.0%  7,863   11.7%  8,277   5.1%  25,759   13.0%

Mexico

  3,196   8.5%  3,033   4.5%  9,723   5.9%  8,065   4.1%

China

  -   0.0%  2,205   3.3%  2,698   1.6%  7,106   3.6%

Japan

  908   2.4%  1,489   2.2%  3,778   2.3%  4,533   2.3%

Canada

  3,529   9.3%  3,421   5.1%  10,698   6.5%  8,671   4.4%

India

  1,387   3.7%  1,577   2.3%  4,829   3.0%  4,420   2.2%

Australia

  -   0.0%  404   0.6%  -   0.0%  1,374   0.7%

Total net revenue

 $37,788   100.0% $67,333   100.0% $163,771   100.0% $197,649   100.0%