Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 04, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001004989 | |
Entity Registrant Name | SPAR GROUP, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 0-27408 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 33-0684451 | |
Entity Address, Address Line One | 1910 Opdyke Court | |
Entity Address, City or Town | Auburn Hills | |
Entity Address, State or Province | MI | |
Entity Address, Postal Zip Code | 48326 | |
City Area Code | 248 | |
Local Phone Number | 364-7727 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Title of 12(b) Security | Common stock, par value $0.01 per share | |
Trading Symbol | SGRP | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 23,232,739 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net revenues | $ 65,936 | $ 67,799 | $ 130,316 | $ 126,794 |
Related party - cost of revenues | 1,682 | 2,521 | 3,179 | 4,666 |
Cost of revenues | 51,158 | 52,330 | 99,903 | 97,348 |
Gross profit | 13,096 | 12,948 | 27,234 | 24,780 |
Selling, general and administrative expense | 10,605 | 10,084 | 21,061 | 19,338 |
Depreciation and amortization | 494 | 507 | 1,026 | 1,017 |
Operating income | 1,997 | 2,357 | 5,147 | 4,425 |
Interest expense, net | 478 | 178 | 868 | 328 |
Other income, net | (125) | (149) | (183) | (237) |
Income before income tax expense | 1,644 | 2,328 | 4,462 | 4,334 |
Income tax expense | 538 | 715 | 1,579 | 1,266 |
Net income | 1,106 | 1,613 | 2,883 | 3,068 |
Net income attributable to non-controlling interest | (467) | (464) | (1,378) | (1,247) |
Net income attributable to SPAR Group, Inc. | $ 639 | $ 1,149 | $ 1,505 | $ 1,821 |
Basic income per common share attributable to SPAR Group, Inc. (in dollars per share) | $ 0.03 | $ 0.05 | $ 0.06 | $ 0.08 |
Diluted income per common share attributable to SPAR Group, Inc. (in dollars per share) | $ 0.03 | $ 0.05 | $ 0.06 | $ 0.08 |
Weighted-average common shares outstanding – basic (in shares) | 23,250 | 21,808 | 23,182 | 21,696 |
Weighted-average common shares outstanding – diluted (in shares) | 23,392 | 21,935 | 23,337 | 21,831 |
Net income | $ 1,106 | $ 1,613 | $ 2,883 | $ 3,068 |
Foreign currency translation adjustments | (39) | (3,562) | 138 | (3,936) |
Comprehensive income (loss) | 1,067 | (1,949) | 3,021 | (868) |
Comprehensive (income) loss attributable to non-controlling interest | (97) | 803 | (1,100) | 1,999 |
Comprehensive income (loss) attributable to SPAR Group, Inc. | $ 970 | $ (1,146) | $ 1,921 | $ 1,131 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 10,916 | $ 9,345 |
Accounts receivable, net | 63,018 | 63,714 |
Prepaid expenses and other current assets | 4,779 | 7,861 |
Total current assets | 78,713 | 80,920 |
Property and equipment, net | 3,172 | 3,261 |
Operating lease right-of-use assets | 1,856 | 969 |
Goodwill | 1,715 | 1,708 |
Intangible assets, net | 1,501 | 2,040 |
Deferred income taxes, net | 4,100 | 3,766 |
Other assets | 2,019 | 1,934 |
Total assets | 93,076 | 94,598 |
Liabilities and stockholders' equity | ||
Accrued expenses and other current liabilities | 19,965 | 20,261 |
Customer incentives and deposits | 2,327 | 2,399 |
Lines of credit and short-term loans | 15,906 | 17,980 |
Current portion of operating lease liabilities | 877 | 363 |
Total current liabilities | 51,488 | 54,555 |
Operating lease liabilities, net of current portion | 978 | 606 |
Long-term debt | 1,033 | 1,376 |
Total liabilities | 53,499 | 56,537 |
Commitments and contingencies – See Note 4 | ||
Stockholders' equity: | ||
Common stock, $0.01 par value per share: 47,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 23,438,224 and 23,059,138 shares issued as of June 30, 2023 and December 31, 2022, respectively; 23,232,739 shares and 22,853,653 shares outstanding as of June 30, 2023 and December 31, 2022, respectively | 233 | 229 |
Treasury stock, at cost, 205,485 shares and 205,485 shares as of June 30, 2023 and December 31, 2022, respectively | (285) | (285) |
Additional paid-in capital | 20,845 | 20,708 |
Accumulated other comprehensive loss | (4,525) | (4,941) |
Retained earnings | 8,212 | 6,707 |
Total stockholders' equity attributable to SPAR Group, Inc. | 24,487 | 22,427 |
Non-controlling interest | 15,090 | 15,634 |
Total stockholders’ equity | 39,577 | 38,061 |
Total liabilities and stockholders’ equity | 93,076 | 94,598 |
Series B Preferred Stock [Member] | ||
Stockholders' equity: | ||
Preferred stock | (7) | (9) |
Nonrelated Parties [Member] | ||
Liabilities and stockholders' equity | ||
Accounts payable | 9,334 | 10,588 |
Related Parties [Member] | ||
Liabilities and stockholders' equity | ||
Accounts payable | $ 3,079 | $ 2,964 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Preferred stock, par value (in dollars per share) | $ 0.01 | |
Preferred stock, shares authorized (in shares) | 3,000,000 | |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 47,000,000 | 47,000,000 |
Common stock, shares issued (in shares) | 23,438,224 | 23,059,138 |
Common stock, shares outstanding (in shares) | 23,232,739 | 22,853,653 |
Treasury stock, shares (in shares) | 205,485 | 205,485 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares issued (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares outstanding (in shares) | 721,420 | 854,753 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock, Outstanding [Member] | Preferred Stock [Member] | Treasury Stock, Common and Preferred [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 21,320 | 0 | 54 | |||||
Balance at Dec. 31, 2021 | $ 213 | $ 0 | $ (104) | $ 17,231 | $ (5,028) | $ 7,439 | $ 17,597 | $ 37,348 |
Share-based compensation | $ 0 | $ 0 | $ 0 | 150 | 0 | 0 | 0 | 150 |
Conversion of preferred stock to common stock (in shares) | 525 | (350) | 0 | |||||
Conversion of preferred stock to common stock | $ 5 | $ (3) | $ 0 | 0 | 0 | 0 | 0 | 2 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 1,602 | 0 | (1,976) | (374) |
Net income | 0 | 0 | 0 | 0 | 0 | 672 | 783 | 1,455 |
Other comprehensive income | $ 0 | $ 0 | $ 0 | 0 | 1,602 | 0 | (1,976) | (374) |
Issuance of Series B convertible preferred stock (in shares) | 0 | 2,000 | 0 | |||||
Issuance of Series B convertible preferred stock | $ 0 | $ 20 | $ 0 | 3,248 | 0 | 0 | 0 | 3,268 |
Balance (in shares) at Mar. 31, 2022 | 21,845 | 1,650 | 54 | |||||
Balance at Mar. 31, 2022 | $ 218 | $ 17 | $ (104) | 20,629 | (3,426) | 8,111 | 16,404 | 41,849 |
Balance (in shares) at Dec. 31, 2021 | 21,320 | 0 | 54 | |||||
Balance at Dec. 31, 2021 | $ 213 | $ 0 | $ (104) | 17,231 | (5,028) | 7,439 | 17,597 | 37,348 |
Net income | 3,068 | |||||||
Balance (in shares) at Jun. 30, 2022 | 21,771 | 1,650 | 128 | |||||
Balance at Jun. 30, 2022 | $ 218 | $ 17 | $ (193) | 20,760 | (5,663) | 9,260 | 15,543 | 39,942 |
Balance (in shares) at Mar. 31, 2022 | 21,845 | 1,650 | 54 | |||||
Balance at Mar. 31, 2022 | $ 218 | $ 17 | $ (104) | 20,629 | (3,426) | 8,111 | 16,404 | 41,849 |
Share-based compensation | 0 | 0 | 0 | 130 | 0 | 0 | 0 | 130 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (2,237) | 0 | (1,325) | (3,562) |
Net income | $ 0 | $ 0 | $ 0 | 0 | 0 | 1,149 | 464 | 1,613 |
Retirement of shares (in shares) | (74) | 0 | 74 | |||||
Retirement of shares | $ 0 | $ 0 | $ (89) | 1 | 0 | 0 | 0 | (88) |
Other comprehensive income | $ 0 | $ 0 | $ 0 | 0 | (2,237) | 0 | (1,325) | (3,562) |
Balance (in shares) at Jun. 30, 2022 | 21,771 | 1,650 | 128 | |||||
Balance at Jun. 30, 2022 | $ 218 | $ 17 | $ (193) | 20,760 | (5,663) | 9,260 | 15,543 | 39,942 |
Balance (in shares) at Dec. 31, 2022 | 22,961 | 855 | 205 | |||||
Balance at Dec. 31, 2022 | $ 229 | $ 9 | $ (285) | 20,708 | (4,941) | 6,707 | 15,634 | 38,061 |
Share-based compensation | $ 0 | $ 0 | $ 0 | 173 | 0 | 0 | 0 | 173 |
Conversion of preferred stock to common stock (in shares) | 307 | (205) | 0 | |||||
Conversion of preferred stock to common stock | $ 4 | $ (2) | $ 0 | 3 | 0 | 0 | 0 | 5 |
Dividend to NCI | 0 | 0 | 0 | 0 | 0 | 0 | (334) | (334) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 85 | 0 | 92 | 177 |
Net income | 0 | 0 | 0 | 0 | 0 | 866 | 911 | 1,777 |
Dividend to NCI | 0 | 0 | 0 | 0 | 0 | 0 | (334) | (334) |
Other comprehensive income | $ 0 | $ 0 | $ 0 | 0 | 85 | 0 | 92 | 177 |
Balance (in shares) at Mar. 31, 2023 | 23,268 | 650 | 205 | |||||
Balance at Mar. 31, 2023 | $ 233 | $ 7 | $ (285) | 20,884 | (4,856) | 7,573 | 16,303 | 39,859 |
Balance (in shares) at Dec. 31, 2022 | 22,961 | 855 | 205 | |||||
Balance at Dec. 31, 2022 | $ 229 | $ 9 | $ (285) | 20,708 | (4,941) | 6,707 | 15,634 | 38,061 |
Net income | 2,883 | |||||||
Balance (in shares) at Jun. 30, 2023 | 23,233 | 650 | 205 | |||||
Balance at Jun. 30, 2023 | $ 233 | $ 7 | $ (285) | 20,845 | (4,525) | 8,212 | 15,090 | 39,577 |
Balance (in shares) at Mar. 31, 2023 | 23,268 | 650 | 205 | |||||
Balance at Mar. 31, 2023 | $ 233 | $ 7 | $ (285) | 20,884 | (4,856) | 7,573 | 16,303 | 39,859 |
Share-based compensation | 0 | 0 | 0 | (39) | 0 | 0 | 0 | (39) |
Dividend to NCI | 0 | 0 | 0 | 0 | 0 | 0 | (850) | (850) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 331 | 0 | (370) | (39) |
Net income | 0 | 0 | 0 | 0 | 0 | 639 | 467 | 1,106 |
Dividend to NCI | 0 | 0 | 0 | 0 | 0 | 0 | (850) | (850) |
Payments to acquire noncontrolling interests | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | (460) | (460) |
Retirement of shares (in shares) | (35) | 0 | 0 | |||||
Retirement of shares | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Other comprehensive income | $ 0 | $ 0 | $ 0 | 0 | 331 | 0 | (370) | (39) |
Balance (in shares) at Jun. 30, 2023 | 23,233 | 650 | 205 | |||||
Balance at Jun. 30, 2023 | $ 233 | $ 7 | $ (285) | $ 20,845 | $ (4,525) | $ 8,212 | $ 15,090 | $ 39,577 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 2,883 | $ 3,068 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities | ||
Depreciation and amortization | 1,026 | 1,017 |
Amortization of operating lease right-of-use assets | 256 | 483 |
Bad debt expense, net of recoveries | 38 | 53 |
Deferred income tax expense (benefit) | 111 | 0 |
Share-based compensation expense | 134 | 280 |
Majority stockholders change in control agreement | 0 | (420) |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 1,205 | (9,438) |
Prepaid expenses and other current assets | 3,118 | (1,971) |
Accounts payable | (803) | 1,413 |
Operating lease liabilities | (256) | (483) |
Accrued expenses, other current liabilities, due to affiliates and customer incentives and deposits | (968) | 2,470 |
Net cash provided by (used in) operating activities | 6,744 | (3,528) |
Cash flows from investing activities | ||
Purchases of property and equipment | (717) | (794) |
Net cash used in investing activities | (717) | (794) |
Cash flows from financing activities | ||
Borrowings under line of credit | 47,340 | 21,885 |
Repayments under line of credit | (50,003) | (14,446) |
Payments to acquire noncontrolling interests | (473) | 0 |
Distribution to noncontrolling investors | (1,196) | 0 |
Net cash provided by (used in) financing activities | (4,332) | 7,439 |
Effect of foreign exchange rate changes on cash | (124) | (4,188) |
Net change in cash, cash equivalents and restricted cash | 1,571 | (1,071) |
Cash, cash equivalents at beginning of period | 9,345 | 13,473 |
Cash, cash equivalents at end of period | 10,916 | 12,402 |
Supplemental disclosure of cash flows information: | ||
Cash paid for interest | 913 | 406 |
Cash paid for income taxes | 1,748 | 1,243 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Non-cash majority stockholders change in control agreement charges | $ 0 | $ 3,270 |
Note 1 - Nature of the Business
Note 1 - Nature of the Business | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Nature of the Business SPAR Group, Inc. ("SGRP" or the "Corporation"), and its subsidiaries (and SGRP together with its subsidiaries may |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2022 2022 10 April 17, 2023. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements. In the opinion of management, the included disclosures are adequate, and the accompanying unaudited condensed consolidated financial statements contain all adjustments which are necessary for a fair presentation of the Company’s consolidated financial position as of June 30, 2023, three six June 30, 2023 2022, six June 30, 2023 2022. three six June 30, 2023 not may December 31, 2023. Principles of Consolidation The Company consolidates its 100% 51% Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the amounts disclosed for contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting year. Significant balances subject to such estimates and assumptions include carrying amounts of property and equipment and intangible assets, valuation allowances for receivables, carrying amounts for deferred tax assets and liabilities, and liabilities incurred from operations and customer incentives. Actual results could differ from those estimates. Segment Reporting Reportable segments are components of the Company for which separate financial information is available that is evaluated on a regular basis by the Chief Operating Decision Maker ("CODM”) in deciding how to allocate resources and in assessing performance. The Company's CODM is the Chief Executive Officer. The Company provides similar merchandising, marketing and business services throughout the world and has three Recently Adopted Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 ASU No. 2016 13 ) January 1, 2023, No. 2016 13 January 1, 2023 not |
Note 3 - Debt
Note 3 - Debt | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 3. Debt North Mill Capital Credit Facility The Company, through SPAR Marketing Force, Inc. ("SMF") and SPAR Canada Company ULC ("SCC", and collectively with SMF, the “NM Borrowers”), has a secured revolving credit facility in the United States (the "US Revolving Credit Facility") and Canada (the "Canada Revolving Credit Facility", and collectively with the US Revolving Credit Facility, the "NM Credit Facility") with North Mill Capital, LLC, d/b/a SLR Business Credit ("NM"). In order to obtain, document and govern the NM Credit Facility, SMF, SCC, SGRP and certain of SGRP's direct and indirect subsidiaries in the United States and Canada (including SMF and SCC as borrowers and SGRP as a guarantor, collectively, the "NM Loan Parties") entered into a Loan and Security Agreement with NM dated as of April 10, 2019, On July 1, 2022, June 30, 2022 ( October 10, 2023, October 10, 2024, CDN$1.5 On August 9, 2022, On February 1, 2023, CDN$2.0 The Restated US Note and Restated Canadian Note (together, the "NM Notes") and the NM Loan Agreement together require the NM Borrowers to pay interest on the loans thereunder equal to: (i) the Prime Rate designated from time to time by Wells Fargo Bank; plus (ii) one nine October 10, 2022, $1.0 $21.0 October 10, 2023, $1.0 $21.0 As of June 30, 2023, The NM Credit Facility contains certain financial and other restrictive covenants and also limits certain expenditures by the NM Loan Parties, including maintaining a positive trailing EBITDA for each the NM Borrowers (i.e., SMF and SCC) and imposes limits on all of the NM Loan Parties (including SGRP) on non-ordinary course payments and transactions, incurring or guaranteeing indebtedness, increases in executive, officer or director compensation, capital expenditures and certain other investments. The NM Loan Parties were in compliance with such covenants as of June 30, 2023. The obligations of the NM Borrowers are secured by the receivables and other assets of the NM Borrowers and substantially all of the assets of the other NM Loan Parties, however, the obligations are not Resource Plus Seller Notes Effective with the closing of the Company's acquisition of Resource Plus in 2018, December 31 December 31, 2018 December 31, 2023. As of June 30, 2023, International Credit Facilities In October 2017, AUD$0.8 June 30, 2023. June 30, 2023, In December 2020, July 2023. June 30, 2023. June 30, 2023, In December 2021, December 2023. June 30, 2023. June 30, 2023, In March 2022, July 2023. June 30, 2023. June 30, 2023, Summary of the Company s lines of credit and short-term loans (in thousands): Interest Rate Balance Interest Rate Balance as of as of as of as of June 30, 2023 June 30, 2023 December 31, 2022 December 31, 2022 Australia - National Australia Bank 12.10 % $ 80 10.60 % $ 156 China- Construction Bank 4.15 % 276 4.15 % 290 China- Industrial Bank 4.00 % 413 4.00 % 435 South Africa - Investec Bank Ltd. 11.75 % 2,542 10.50 % 1,700 USA - North Mill Capital 10.15 % 11,895 5.25 % 14,399 USA - Resource Plus Seller Notes 1.85 % 700 1.85 % 1,000 Total $ 15,906 $ 17,980 Summary of the Company s Long- term debt (dollars in thousands): Interest Rate as of Balance Outstanding Interest Rate as of Balance Outstanding June 30, 2023 June 30, 2023 December 31, 2022 December 31, 2022 South Africa - Investec Bank Ltd. 11.75 % $ 1,033 10.50 % $ 1,376 Total $ 1,033 $ 1,376 Summary of Unused Company Credit and Other Debt Facilities (in thousands): June 30, December 31, 2023 2022 Unused Availability: United States / Canada $ 6,498 $ 4,601 Australia 451 390 South Africa 1,996 454 Mexico - - China - - Total Unused Availability $ 8,945 $5,446 |
Note 4 - Commitments and Contin
Note 4 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 4. Commitments and Contingencies Legal Matters The Company is a party to various legal actions and administrative proceedings arising in the normal course of business. In the opinion of Company's management, resolution of these matters is not All prior litigations associated with the Company through SPAR Business Services, Inc. ("SBS") and its independent contractors have been settled as per CIC Agreement (note 8 |
Note 5 - Common Stock
Note 5 - Common Stock | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Common Stock [Text Block] | 5. Common Stock As of June 30, 2023, The voting, dividend and liquidation rights of the holders of the Company’s common stock are subject to and qualified by the rights, powers and preferences of the holders of the Company’s Series B convertible preferred stock. Each share of the Company’s common stock is entitled to one may In May 2022, 2022 "2022 May 2023. three six June 30, 2023, no 2022 |
Note 6 - Preferred Stock
Note 6 - Preferred Stock | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | 6. Preferred Stock The Company’s certificate of incorporation authorizes it to issue 3,000,000 shares of preferred stock with a par value of $0.01 per share, which may may In January 2022, January 2022, 8. Shares of Series B convertible preferred stock do not 1 8 . not During the six June 30, 2023, June 30, 2023, Following the remaining Series B convertible preferred stock shares converting to common stock and when there are no may |
Note 7 - Share-based Compensati
Note 7 - Share-based Compensation | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. Share-Based Compensation Stock Options For the three June 30, 2023 2022, six June 30, 2023 2022, Restricted Stock Units For the three June 30, 2023 2022, six June 30, 2023 2022, |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 8. Related Party Transactions Domestic Related Party Transactions Mr. Robert G. Brown and Mr. William H. Bartels are directors and significant stockholders of SGRP, and thus each is a related party and affiliate of SGRP. Mr. Robert G. Brown was the Chairman of the Board of Directors of SGRP (the " Board 2022 January 25, 2022. SBS 4 SAS not Change of Control, Voting and Restricted Stock Agreement The Change of Control, Voting and Restricted Stock Agreement (the " CIC Agreement January 28, 2022, Mr. Brown Mr. Bartels SAS Majority Stockholders Board 2022 January 25, 2022. The execution of the CIC Agreement was conditional upon making the changes to and restatement of the Corporation's 2022 January 25, 2022 ( 2022 The financial terms of the CIC Agreement to the Majority Stockholders, totaled $4,477,585, consisting of the following: 1. The Corporation issued to the Majority Stockholders 2,000,000 restricted shares of Series B Preferred Stock, which are convertible into 3,000,000 SGRP Shares pursuant to the 1:1.5 5 November 10, 2023, may December 31, 2021 2. The Corporation made a $250,000 cash payment to Mr. Brown and agreed to reimburse up to $35,000 of the legal expenses of the Majority Stockholders that were incurred after January 1, 2021, 3. The Corporation assumed financial responsibility for, and paid directly to Affinity Insurance Company, Ltd., $502,585 to settle SAS obligations and the related claim for the 2014 2015 Pursuant to the CIC Agreement, all actions, claims and demands between the Majority Stockholders and the Company were resolved; and the Majority Stockholders and their affiliates during the five 2022 The Corporation's amended and restated 2022 7 three 3 70% three 3 may not 2022 1 2 3 4 In January 2022, 2022 two 2 Panagiotis Lazaretos Consulting Agreement On January 27, 2022, February 1, 2022 ( January 25, 2022, first twelve 12 January 31, 2024. February 4, 2022 February 2, 2023, July 31, 2023. Other Domestic Related Party Transactions National Merchandising Services, LLC ("NMS"), is a consolidated domestic subsidiary of the Company and is owned jointly by SGRP through its indirect ownership of 51% of the NMS membership interests and by National Merchandising of America, Inc. ("NMA"), through its ownership of the other 49% of the NMS membership interests. Mr. Edward Burdekin is the Chief Executive Officer and President and a director of NMS and also is an executive officer and director of NMA. Ms. Andrea Burdekin, Mr. Burdekin's wife, is the sole stockholder and also a director of both NMA and NMS. NMA is an affiliate of the Company but is not September 2018 June 2021, July 2021, three June 30, 2023 2022 six June 30, 2023 2022 Resource Plus is owned jointly by SGRP through its direct ownership of 51% of the Resource Plus membership interests and by Mr. Richard Justus through his ownership of the other 49% of the Resource Plus membership interests. Mr. Justus has a 50% ownership interest in RJ Holdings which owns the buildings where Resource Plus is headquartered and operates and are subleased to Resource Plus. The costs associated with these activities for the three June 30, 2023 2022 six June 30, 2023 2022 On December 1, 2021, six June 30, 2023 International Related Party Services The Company's principal Brazilian subsidiary, SPAR BSMT, is owned 51% September 13, 2016. SPARFACTS is a consolidated international subsidiary of the Company and is owned 51% by SGRP. Ms. Lydna Chapman is a director of SPARFACTS. Her various companies provide office lease, accounting and consultant services to SPARFACTS. Summary of Certain Related Party Transactions Due to related parties consists of the following as of the periods presented (in thousands): June 30, December 31, 2023 2022 Loans from joint venture partners (1) China $ 1,554 $ 1,382 Mexico 623 623 Australia 636 693 Resource Plus 266 266 Total due to affiliates $ 3,079 $ 2,964 ( 1 Represent loans due from the local investors into the Company's subsidiaries (representing their proportionate share of working capital loans). The loans have no Bartels' Retirement and Director Compensation Mr. William H. Bartels retired as an employee of the Company as of January 1, 2020 one January 18, 2020, five January 1, 2020, December 31, 2024 ( As of June 30, 2023, |
Note 9 - Segment Information
Note 9 - Segment Information | 6 Months Ended |
Jun. 30, 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 Six Months Ended June 30, June 30, 2023 2022 2023 2022 Net revenues: Americas $ 52,083 $ 53,274 $ 100,661 $ 96,253 APAC 5,658 5,386 11,758 12,205 EMEA 8,195 9,139 17,897 18,336 Total net revenues $ 65,936 $ 67,799 $ 130,316 $ 126,794 Operating income: Americas $ 2,038 $ 2,636 $ 4,553 $ 4,419 APAC (97 ) (713 ) (289 ) (1,155 ) EMEA 56 434 883 1,161 Total operating income $ 1,997 $ 2,357 $ 5,147 $ 4,425 Interest expense, net: Americas $ 357 $ 99 $ 631 $ 201 APAC 17 18 16 17 EMEA 104 61 221 110 Total interest expense, net $ 478 $ 178 $ 868 $ 328 Other income, net: Americas $ (12 ) $ (4 ) $ 17 $ (11 ) APAC (4 ) 4 (10 ) (12 ) EMEA (109 ) (149 ) (190 ) (214 ) Total other income, net $ (125 ) $ (149 ) $ (183 ) $ (237 ) Income before income tax expense: Americas $ 1,693 $ 2,541 $ 3,905 $ 4,229 APAC (110 ) (735 ) (295 ) (1,160 ) EMEA 61 522 852 1,265 Total income before income tax expense $ 1,644 $ 2,328 $ 4,462 $ 4,334 Income tax expense: Americas $ 456 $ 509 $ 1,223 $ 877 APAC (53 ) 46 (35 ) 41 EMEA 135 160 391 348 Total income tax expense $ 538 $ 715 $ 1,579 $ 1,266 Net income, depreciation and amortization expense, and capital expenditures of the Company’s reportable segments for the periods presented were (in thousands): Net income (loss): Americas $ 1,237 $ 2,032 $ 2,682 $ 3,352 APAC (57 ) (781 ) (260 ) (1,201 ) EMEA (74 ) 362 461 917 Total net income $ 1,106 $ 1,613 $ 2,883 $ 3,068 Net income (loss) attributable to non-controlling interest Americas $ (394 ) $ (525 ) $ (879 ) $ (1,076 ) APAC (12 ) 367 (16 ) 520 EMEA (61 ) (306 ) (483 ) (691 ) Total net income attributable to non-controlling interest $ (467 ) $ (464 ) $ (1,378 ) $ (1,247 ) Net income attributable to SPAR Group, Inc. Americas $ 843 $ 1,507 $ 1,803 $ 2,276 APAC (69 ) (414 ) (276 ) (681 ) EMEA (135 ) 56 (22 ) 226 Total net income attributable to SPAR Group, Inc. $ 639 $ 1,149 $ 1,505 $ 1,821 Depreciation and amortization Americas $ 466 $ 487 $ 930 $ 972 APAC 12 11 24 25 EMEA 16 9 72 20 Total depreciation and amortization $ 494 $ 507 $ 1,026 $ 1,017 Capital expenditures: Americas $ 371 $ 330 $ 660 $ 780 APAC 3 6 6 14 EMEA 2 – 51 – Total capital expenditures $ 376 $ 336 $ 717 $ 794 There were no three six June 30, 2023 2022. Total assets of the Company’s reportable segments as of the periods presented were (in thousands): June 30, December 31, 2023 2022 Assets: Americas $ 72,804 $ 75,440 APAC 8,262 5,952 EMEA 12,010 13,206 Total assets $ 93,076 $ 94,598 Long-lived assets of the Company’s reportable segments as of the periods presented were (in thousands): June 30, December 31, 2023 2022 Long lived assets: Americas $ 5,257 $ 4,605 APAC 962 1,244 EMEA 828 315 Total long lived assets $ 7,047 $ 6,164 Geographic Data Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 % of % of % of % of consolidated consolidated consolidated consolidated net revenue net revenue net revenue net revenue United States $ 26,088 39.6 % $ 31,577 46.5 % $ 52,281 40.1 % $ 54,931 43.3 % Brazil 20,016 30.4 17,032 25.1 38,098 29.2 32,600 25.7 South Africa 8,195 12.4 9,138 13.5 17,897 13.7 18,336 14.5 Mexico 2,559 3.9 2,347 3.5 5,032 3.9 4,757 3.8 China 2,225 3.4 1,610 2.4 4,901 3.8 4,470 3.5 Japan 1,491 2.2 1,788 2.6 3,044 2.4 3,811 3.0 Canada 3,420 5.2 2,318 3.4 5,250 4.0 3,965 3.1 India 1,437 2.1 1,595 2.4 2,843 2.2 3,211 2.5 Australia 505 0.8 394 0.6 970 0.7 713 0.6 Total net revenue $ 65,936 100.0 % $ 67,799 100.0 % $ 130,316 100.0 % $ 126,794 100.0 % |
Note 10 - Leases
Note 10 - Leases | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. Leases The Company is a lessee under certain operating leases for office space and equipment. The components of lease expenses consisted of the following for the periods presented (in thousands): Three Months Ended Six Months Ended June 30, June 30, Lease Costs Classification 2023 2022 2023 2022 Operating lease cost Selling, General and Administrative Expense $ 71 $ 114 $ 141 $ 255 Short-term lease cost Selling, General and Administrative Expense 35 137 111 262 Variable costs Selling, General and Administrative Expense 15 24 31 53 Total lease cost $ 121 $ 275 $ 283 $ 570 ( 1 The following includes supplemental information for the periods presented (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities $ 106 $ 258 $ 256 $ 529 Assets obtained in exchange for new operating lease liabilities Operating lease $ 808 $ - $ 1,111 $ - Balance sheet information related to leases consisted of the following as of the periods presented (in thousands): June 30, 2023 December 31, 2022 Assets: Operating lease right-of-use assets $ 1,856 $ 969 Liabilities: Current portion of operating lease liabilities 878 363 Non-current portion of operating lease liabilities 978 606 Total operating lease liabilities $ 1,856 $ 969 Weighted-average remaining lease term - operating leases (in years) 2.1 2.04 Weighted-average discount rate - operating leases 10.0 % 6.4 % The following table summarizes the maturities of lease liabilities as of June 30, 2023 ( Period Ending December 31, Amount 2023 $ 482 2024 791 2025 862 2026 84 2027 49 Thereafter 45 Total Lease Payments 2,313 Less: imputed interest 457 Total $ 1,856 |
Note 11 - Earnings Per Share
Note 11 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 11. Earnings Per Share The following table sets forth the computations of basic and diluted net income per share (in thousands, except per share data): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Numerator: Net income attributable to SPAR Group, Inc. $ 639 $ 1,149 $ 1,505 $ 1,821 Denominator: Weighted-average common shares outstanding – basic 23,250 21,808 23,182 21,696 Effect of potentially dilutive securities: Stock options and unvested restricted shares 142 127 155 135 Weighted-average common shares outstanding – diluted 23,392 21,935 23,337 21,831 Basic income per common share attributable to SPAR Group, Inc. $ 0.03 $ 0.05 $ 0.06 $ 0.08 Diluted income per common share attributable to SPAR Group, Inc. $ 0.03 $ 0.05 $ 0.06 $ 0.08 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The Company consolidates its 100% 51% |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the amounts disclosed for contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting year. Significant balances subject to such estimates and assumptions include carrying amounts of property and equipment and intangible assets, valuation allowances for receivables, carrying amounts for deferred tax assets and liabilities, and liabilities incurred from operations and customer incentives. Actual results could differ from those estimates. |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting Reportable segments are components of the Company for which separate financial information is available that is evaluated on a regular basis by the Chief Operating Decision Maker ("CODM”) in deciding how to allocate resources and in assessing performance. The Company's CODM is the Chief Executive Officer. The Company provides similar merchandising, marketing and business services throughout the world and has three |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 ASU No. 2016 13 ) January 1, 2023, No. 2016 13 January 1, 2023 not |
Note 3 - Debt (Tables)
Note 3 - Debt (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Interest Rate Balance Interest Rate Balance as of as of as of as of June 30, 2023 June 30, 2023 December 31, 2022 December 31, 2022 Australia - National Australia Bank 12.10 % $ 80 10.60 % $ 156 China- Construction Bank 4.15 % 276 4.15 % 290 China- Industrial Bank 4.00 % 413 4.00 % 435 South Africa - Investec Bank Ltd. 11.75 % 2,542 10.50 % 1,700 USA - North Mill Capital 10.15 % 11,895 5.25 % 14,399 USA - Resource Plus Seller Notes 1.85 % 700 1.85 % 1,000 Total $ 15,906 $ 17,980 Interest Rate as of Balance Outstanding Interest Rate as of Balance Outstanding June 30, 2023 June 30, 2023 December 31, 2022 December 31, 2022 South Africa - Investec Bank Ltd. 11.75 % $ 1,033 10.50 % $ 1,376 Total $ 1,033 $ 1,376 |
Credit And Debt Facilities Unused Availability [Table Text Block] | June 30, December 31, 2023 2022 Unused Availability: United States / Canada $ 6,498 $ 4,601 Australia 451 390 South Africa 1,996 454 Mexico - - China - - Total Unused Availability $ 8,945 $5,446 |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | June 30, December 31, 2023 2022 Loans from joint venture partners (1) China $ 1,554 $ 1,382 Mexico 623 623 Australia 636 693 Resource Plus 266 266 Total due to affiliates $ 3,079 $ 2,964 |
Note 9 - Segment Information (T
Note 9 - Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Net revenues: Americas $ 52,083 $ 53,274 $ 100,661 $ 96,253 APAC 5,658 5,386 11,758 12,205 EMEA 8,195 9,139 17,897 18,336 Total net revenues $ 65,936 $ 67,799 $ 130,316 $ 126,794 Operating income: Americas $ 2,038 $ 2,636 $ 4,553 $ 4,419 APAC (97 ) (713 ) (289 ) (1,155 ) EMEA 56 434 883 1,161 Total operating income $ 1,997 $ 2,357 $ 5,147 $ 4,425 Interest expense, net: Americas $ 357 $ 99 $ 631 $ 201 APAC 17 18 16 17 EMEA 104 61 221 110 Total interest expense, net $ 478 $ 178 $ 868 $ 328 Other income, net: Americas $ (12 ) $ (4 ) $ 17 $ (11 ) APAC (4 ) 4 (10 ) (12 ) EMEA (109 ) (149 ) (190 ) (214 ) Total other income, net $ (125 ) $ (149 ) $ (183 ) $ (237 ) Income before income tax expense: Americas $ 1,693 $ 2,541 $ 3,905 $ 4,229 APAC (110 ) (735 ) (295 ) (1,160 ) EMEA 61 522 852 1,265 Total income before income tax expense $ 1,644 $ 2,328 $ 4,462 $ 4,334 Income tax expense: Americas $ 456 $ 509 $ 1,223 $ 877 APAC (53 ) 46 (35 ) 41 EMEA 135 160 391 348 Total income tax expense $ 538 $ 715 $ 1,579 $ 1,266 Net income (loss): Americas $ 1,237 $ 2,032 $ 2,682 $ 3,352 APAC (57 ) (781 ) (260 ) (1,201 ) EMEA (74 ) 362 461 917 Total net income $ 1,106 $ 1,613 $ 2,883 $ 3,068 Net income (loss) attributable to non-controlling interest Americas $ (394 ) $ (525 ) $ (879 ) $ (1,076 ) APAC (12 ) 367 (16 ) 520 EMEA (61 ) (306 ) (483 ) (691 ) Total net income attributable to non-controlling interest $ (467 ) $ (464 ) $ (1,378 ) $ (1,247 ) Net income attributable to SPAR Group, Inc. Americas $ 843 $ 1,507 $ 1,803 $ 2,276 APAC (69 ) (414 ) (276 ) (681 ) EMEA (135 ) 56 (22 ) 226 Total net income attributable to SPAR Group, Inc. $ 639 $ 1,149 $ 1,505 $ 1,821 Depreciation and amortization Americas $ 466 $ 487 $ 930 $ 972 APAC 12 11 24 25 EMEA 16 9 72 20 Total depreciation and amortization $ 494 $ 507 $ 1,026 $ 1,017 Capital expenditures: Americas $ 371 $ 330 $ 660 $ 780 APAC 3 6 6 14 EMEA 2 – 51 – Total capital expenditures $ 376 $ 336 $ 717 $ 794 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | June 30, December 31, 2023 2022 Assets: Americas $ 72,804 $ 75,440 APAC 8,262 5,952 EMEA 12,010 13,206 Total assets $ 93,076 $ 94,598 |
Reconciliation Of Long Lived Assets From Segments To Consolidated [Table Text Block] | June 30, December 31, 2023 2022 Long lived assets: Americas $ 5,257 $ 4,605 APAC 962 1,244 EMEA 828 315 Total long lived assets $ 7,047 $ 6,164 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 % of % of % of % of consolidated consolidated consolidated consolidated net revenue net revenue net revenue net revenue United States $ 26,088 39.6 % $ 31,577 46.5 % $ 52,281 40.1 % $ 54,931 43.3 % Brazil 20,016 30.4 17,032 25.1 38,098 29.2 32,600 25.7 South Africa 8,195 12.4 9,138 13.5 17,897 13.7 18,336 14.5 Mexico 2,559 3.9 2,347 3.5 5,032 3.9 4,757 3.8 China 2,225 3.4 1,610 2.4 4,901 3.8 4,470 3.5 Japan 1,491 2.2 1,788 2.6 3,044 2.4 3,811 3.0 Canada 3,420 5.2 2,318 3.4 5,250 4.0 3,965 3.1 India 1,437 2.1 1,595 2.4 2,843 2.2 3,211 2.5 Australia 505 0.8 394 0.6 970 0.7 713 0.6 Total net revenue $ 65,936 100.0 % $ 67,799 100.0 % $ 130,316 100.0 % $ 126,794 100.0 % |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, Lease Costs Classification 2023 2022 2023 2022 Operating lease cost Selling, General and Administrative Expense $ 71 $ 114 $ 141 $ 255 Short-term lease cost Selling, General and Administrative Expense 35 137 111 262 Variable costs Selling, General and Administrative Expense 15 24 31 53 Total lease cost $ 121 $ 275 $ 283 $ 570 |
Lessee, Operating Lease, Cash Flows [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities $ 106 $ 258 $ 256 $ 529 Assets obtained in exchange for new operating lease liabilities Operating lease $ 808 $ - $ 1,111 $ - |
Operating Lease, Leases Asset and Liability [Table Text Block] | June 30, 2023 December 31, 2022 Assets: Operating lease right-of-use assets $ 1,856 $ 969 Liabilities: Current portion of operating lease liabilities 878 363 Non-current portion of operating lease liabilities 978 606 Total operating lease liabilities $ 1,856 $ 969 Weighted-average remaining lease term - operating leases (in years) 2.1 2.04 Weighted-average discount rate - operating leases 10.0 % 6.4 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Period Ending December 31, Amount 2023 $ 482 2024 791 2025 862 2026 84 2027 49 Thereafter 45 Total Lease Payments 2,313 Less: imputed interest 457 Total $ 1,856 |
Note 11 - Earnings Per Share (T
Note 11 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Numerator: Net income attributable to SPAR Group, Inc. $ 639 $ 1,149 $ 1,505 $ 1,821 Denominator: Weighted-average common shares outstanding – basic 23,250 21,808 23,182 21,696 Effect of potentially dilutive securities: Stock options and unvested restricted shares 142 127 155 135 Weighted-average common shares outstanding – diluted 23,392 21,935 23,337 21,831 Basic income per common share attributable to SPAR Group, Inc. $ 0.03 $ 0.05 $ 0.06 $ 0.08 Diluted income per common share attributable to SPAR Group, Inc. $ 0.03 $ 0.05 $ 0.06 $ 0.08 |
Note 3 - Debt (Details Textual)
Note 3 - Debt (Details Textual) ر.س in Millions, ¥ in Millions, $ in Millions, $ in Millions | 5 Months Ended | ||||||||||||
Oct. 10, 2023 USD ($) | Feb. 01, 2023 USD ($) | Jul. 01, 2022 USD ($) | Mar. 22, 2021 USD ($) | Jun. 30, 2023 USD ($) | Feb. 01, 2023 CAD ($) | Dec. 31, 2022 SAR (ر.س) | Jul. 01, 2022 CAD ($) | Mar. 31, 2022 SAR (ر.س) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Jan. 09, 2018 USD ($) | Oct. 31, 2017 AUD ($) | |
Resource Plus Acquisition Note [Member] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.85% | ||||||||||||
Debt Instrument, Face Amount | $ 2,300,000 | ||||||||||||
Notes Payable | $ 700,000 | ||||||||||||
Industrial Bank [Member] | SPAR China [Member] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4% | ||||||||||||
Long-Term Debt | $ 400,000 | ||||||||||||
Debt Instrument, Face Amount | ¥ | ¥ 3 | ||||||||||||
Industrial Bank and Commercial Bank of China [Member] | SPAR China [Member] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | ||||||||||||
Long-Term Debt | $ 300,000 | ||||||||||||
Debt Instrument, Face Amount | ¥ | ¥ 2 | ||||||||||||
Investec Bank Ltd. [Member] | SGRP Meridian [Member] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.75% | ||||||||||||
Long-Term Debt | $ 3,600,000 | ||||||||||||
Debt Instrument, Face Amount | ر.س | ر.س 25.0 | ر.س 100.5 | |||||||||||
Revolving Credit Facility [Member] | North Mill, LLC [Member] | |||||||||||||
Debt Related Commitment Fees and Debt Issuance Costs | $ 28,000 | ||||||||||||
Long-Term Debt | 10,800,000 | ||||||||||||
Revolving Credit Facility [Member] | North Mill, LLC [Member] | CANADA | |||||||||||||
Debt Related Commitment Fees and Debt Issuance Costs | $ 3,000 | ||||||||||||
Revolving Credit Facility [Member] | North Mill, LLC [Member] | SPAR Marketing Force [Member] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 28,000,000 | $ 17,500,000 | $ 2 | ||||||||||
Borrowing Base Availability for Billed Receivables, Percentage | 90% | 85% | |||||||||||
Borrowing Base Availability for Unbilled Receivables, Percentage | 80% | 70% | |||||||||||
Debt Instrument, Covenant, Unbilled Cap | $ 7,000,000 | $ 6,500,000 | $ 5,500,000 | ||||||||||
Revolving Credit Facility [Member] | North Mill, LLC [Member] | SPAR Canada Company [Member] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1.5 | ||||||||||||
Revolving Credit Facility [Member] | National Australia Bank [Member] | |||||||||||||
Line of Credit, Current | $ 0.8 | ||||||||||||
Percent Of Eligible Domestic Accounts Receivable Less Certain Reserves To Calculate Borrowing Availability | 80% | ||||||||||||
Line of Credit Facility, Interest Rate at Period End | 12.10% | ||||||||||||
Long-Term Line of Credit, Total | $ 100,000 | ||||||||||||
NM Note [Member] | North Mill, LLC [Member] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.15% | ||||||||||||
Long-Term Debt | $ 11,900,000 | ||||||||||||
NM Note [Member] | North Mill, LLC [Member] | Minimum [Member] | |||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 6.75% | ||||||||||||
NM Note [Member] | North Mill, LLC [Member] | Prime Rate [Member] | |||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.90% | ||||||||||||
NM Note [Member] | North Mill, LLC [Member] | SPAR Canada Company [Member] | |||||||||||||
Long-Term Debt | $ 1,100,000 | ||||||||||||
NM Notes Commencing on 10 October 2022 [Member] | North Mill, LLC [Member] | |||||||||||||
Debt Instrument, Fee Amount | $ 100,000 | ||||||||||||
Debt Instrument, Facility Fee for Any Advances Other Than Under Revolving Credit Faculty, Percentage | 0.80% | ||||||||||||
Debt Instrument, Fee for Each Incremental 1 Million Increase in Loan Balance in Excess of $21 Million | $ 15,000 | ||||||||||||
NM Notes Commencing on 10 October 2022 [Member] | North Mill, LLC [Member] | Forecast [Member] | |||||||||||||
Debt Instrument, Fee Amount | $ 200,000 | ||||||||||||
Debt Instrument, Facility Fee for Any Advances Other Than Under Revolving Credit Faculty, Percentage | 0.80% | ||||||||||||
Debt Instrument, Fee for Each Incremental 1 Million Increase in Loan Balance in Excess of $21 Million | $ 15,000 |
Note 3 - Debt - Summary of Cred
Note 3 - Debt - Summary of Credit and Other Debt Facilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Interest Rate | ||
Balance | $ 15,906 | $ 17,980 |
Balance outstanding | $ 1,033 | $ 1,376 |
Investec Bank Ltd. [Member] | ||
Interest Rate | 11.75% | 10.50% |
Balance | $ 2,542 | $ 1,700 |
Balance outstanding | $ 1,033 | $ 1,376 |
National Australia Bank [Member] | ||
Interest Rate | 12.10% | 10.60% |
Balance | $ 80 | $ 156 |
Construction Bank [Member] | ||
Interest Rate | 4.15% | 4.15% |
Balance | $ 276 | $ 290 |
Industrial Bank [Member] | ||
Interest Rate | 4% | 4% |
Balance | $ 413 | $ 435 |
North Mill Capital [Member] | ||
Interest Rate | 10.15% | 5.25% |
Balance | $ 11,895 | $ 14,399 |
Resouces Plus Seller Notes [Member] | ||
Interest Rate | 1.85% | 1.85% |
Balance | $ 700 | $ 1,000 |
Note 3 - Debt - Unused Availabi
Note 3 - Debt - Unused Availability (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Unused Availability | $ 8,945 | $ 5,446 |
United States / Canada [Member] | ||
Unused Availability | 6,498 | 4,601 |
AUSTRALIA | ||
Unused Availability | 451 | 390 |
SOUTH AFRICA | ||
Unused Availability | 1,996 | 454 |
MEXICO | ||
Unused Availability | 0 | |
CHINA | ||
Unused Availability | $ 0 | $ 0 |
Note 5 - Common Stock (Details
Note 5 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | May 24, 2022 | |
Common Stock, Shares Authorized (in shares) | 47,000,000 | 47,000,000 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | |
Dividends, Common Stock, Cash | $ 0 | ||
The 2022 Stock Repurchase Program [Member] | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 500,000 |
Note 6 - Preferred Stock (Detai
Note 6 - Preferred Stock (Details Textual) | 6 Months Ended | ||
Jun. 30, 2023 $ / shares shares | Dec. 31, 2022 $ / shares shares | Jan. 25, 2022 $ / shares shares | |
Preferred Stock, Shares Authorized (in shares) | 3,000,000 | ||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | ||
Conversion of Series B Preferred Stock into Common Stock [Member] | |||
Conversion of Stock, Shares Converted (in shares) | 204,753 | ||
Conversion of Stock, Shares Issued (in shares) | 307,130 | ||
Series B Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized (in shares) | 2,000,000 | 2,000,000 | 2,000,000 |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 |
Preferred Stock, Convertible, Conversion Ratio | 1.5 | ||
Preferred Stock, Shares Outstanding (in shares) | 721,420 | 854,753 | |
Preferred Stock, Convertible, Shares Issuable (in shares) | 975,000 | ||
Conversion of Series B Preferred Stock into Common Stock [Member] | |||
Preferred Stock, Shares Outstanding (in shares) | 650,000 |
Note 7 - Share-based Compensa_2
Note 7 - Share-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Inducement Plan [Member] | ||||
Share-Based Payment Arrangement, Expense | $ (17,000) | $ 22,000 | $ 30,000 | $ 136,000 |
The 2018 Plan [Member] | Restricted Stock [Member] | ||||
Share-Based Payment Arrangement, Expense | $ (26,000) | $ 34,000 | $ 100,000 | $ 74,000 |
Note 8 - Related Party Transa_3
Note 8 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jan. 28, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jan. 27, 2022 | Dec. 31, 2021 | |
Change in Amount, Change Due to Non-cash Majority Stockholders Control Agreement, Expense | $ 0 | $ (420,000) | |||||
NMS [Member] | Minimum [Member] | |||||||
Percent of Reimbursement | 4% | ||||||
NMS [Member] | Maximum [Member] | |||||||
Percent of Reimbursement | 10% | ||||||
NMS [Member] | |||||||
Subsidiary, Ownership Percentage, Noncontrolling Owner | 49% | 49% | |||||
NSRS [Member] | |||||||
Subsidiary, Ownership Percentage, Noncontrolling Owner | 100% | 100% | |||||
Resource Plus, Inc [Member] | |||||||
Subsidiary, Ownership Percentage, Noncontrolling Owner | 49% | 49% | |||||
RJ Holdings [Member] | |||||||
Subsidiary, Ownership Percentage, Noncontrolling Owner | 50% | 50% | |||||
Meridian [Member] | |||||||
Noncontrolling Interest, Ownership Percentage by Parent | 51% | 51% | |||||
CIC Agreement [Member] | |||||||
Change in Amount, Change Due to Non-cash Majority Stockholders Control Agreement, Expense | $ 4,477,585 | ||||||
Preferred Stock, Shares Issued (in shares) | 2,000,000 | 2,000,000 | 3,000,000 | ||||
Preferred Stock, Shares Issuable (in shares) | 3,000,000 | 3,000,000 | |||||
Preferred Stock, Value, Issued, Ending Balance | $ 3,690,000 | ||||||
Share Price (in dollars per share) | $ 1.23 | ||||||
CIC Agreement [Member] | James R. Brown [Member] | |||||||
Cash Payment | 250,000 | ||||||
Related Party Transactions, Maximum Amount of Reimbursement for Legal Fees | 35,000 | ||||||
CIC Agreement [Member] | SAS [Member] | |||||||
Related Party Transactions, Settlement of Obligations and Related Claim | $ 502,585 | ||||||
Thenablers, Ltd. [Member] | Lazaretos Consulting Agreement [Member] | |||||||
Related Party Transaction, Amounts of Transaction, Rate Per Month | $ 10,000 | ||||||
NMS [Member] | |||||||
Majority Interest Ownership Percentage By Parent | 51% | 51% | |||||
NSRS [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 1,600,000 | $ 2,500,000 | $ 2,700,000 | 4,600,000 | |||
Resource Plus, Inc [Member] | |||||||
Majority Interest Ownership Percentage By Parent | 51% | 51% | |||||
Related Party Transaction, Amounts of Transaction | $ 100,000 | $ 200,000 | $ 200,000 | $ 400,000 | |||
The WB Agreement [Member] | |||||||
Related Party Transaction, Amounts of Transaction | 100,000 | ||||||
SAS [Member] | Premium Adjustments [Member] | |||||||
Related Party Transaction, Amounts of Transaction | 200,000 | ||||||
SAS [Member] | Remaining Premium Adjustments [Member] | |||||||
Related Party Transaction, Amounts of Transaction | 1,100,000 | ||||||
William Bartels [Member] | |||||||
Liability, Pension and Other Postretirement and Postemployment Benefits, Current | $ 200,000 | $ 200,000 |
Note 8 - Related-party Transact
Note 8 - Related-party Transactions - Transactions Between the Company and Affiliates (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
Due to affiliates | $ 3,079 | $ 2,964 | |
Loans Due to Affiliates [Member] | Local Investors in China [Member] | |||
Due to affiliates | [1] | 1,554 | |
Loans Due to Affiliates [Member] | Local Investors in Mexico [Member] | |||
Due to affiliates | 623 | 623 | |
Loans Due to Affiliates [Member] | Local Investors in Australia [Member] | |||
Due to affiliates | 636 | 693 | |
Loans Due to Affiliates [Member] | Local Investors Related to Resource Plus [Member] | |||
Due to affiliates | $ 266 | 266 | |
Loans Due from Affiliates [Member] | Local Investors in China [Member] | |||
Due to affiliates | [1] | $ 1,382 | |
[1]Represent loans due from the local investors into the Company's subsidiaries (representing their proportionate share of working capital loans). The loans have no payment terms, are due on demand, and are classified as current liabilities in the unaudited condensed consolidated balance sheets |
Note 9 - Segment Information -
Note 9 - Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue: | $ 65,936 | $ 67,799 | $ 130,316 | $ 126,794 | ||
Operating income (loss): | 1,997 | 2,357 | 5,147 | 4,425 | ||
Interest expense (income): | 478 | 178 | 868 | 328 | ||
Other expense (income), net: | (125) | (149) | (183) | (237) | ||
Income before income tax expense: | 1,644 | 2,328 | 4,462 | 4,334 | ||
Income tax expense: | 538 | 715 | 1,579 | 1,266 | ||
Net income (loss): | 1,106 | $ 1,777 | 1,613 | $ 1,455 | 2,883 | 3,068 |
Net income attributable to non-controlling interest: | (467) | (464) | (1,378) | (1,247) | ||
Net (loss) income attributable to SPAR Group, Inc.: | 639 | 1,149 | 1,505 | 1,821 | ||
Depreciation and amortization: | 494 | 507 | 1,026 | 1,017 | ||
Capital expenditures | 376 | 336 | 717 | 794 | ||
Americas [Member] | ||||||
Revenue: | 52,083 | 53,274 | 100,661 | 96,253 | ||
Operating income (loss): | 2,038 | 2,636 | 4,553 | 4,419 | ||
Interest expense (income): | 357 | 99 | 631 | 201 | ||
Other expense (income), net: | (12) | (4) | 17 | (11) | ||
Income before income tax expense: | 1,693 | 2,541 | 3,905 | 4,229 | ||
Income tax expense: | 456 | 509 | 1,223 | 877 | ||
Net income (loss): | 1,237 | 2,032 | 2,682 | 3,352 | ||
Net income attributable to non-controlling interest: | (394) | (525) | (879) | (1,076) | ||
Net (loss) income attributable to SPAR Group, Inc.: | 843 | 1,507 | 1,803 | 2,276 | ||
Depreciation and amortization: | 466 | 487 | 930 | 972 | ||
Capital expenditures | 371 | 330 | 660 | 780 | ||
Asia Pacific [Member] | ||||||
Revenue: | 5,658 | 5,386 | 11,758 | 12,205 | ||
Operating income (loss): | (97) | (713) | (289) | (1,155) | ||
Interest expense (income): | 17 | 18 | 16 | 17 | ||
Other expense (income), net: | (4) | 4 | (10) | (12) | ||
Income before income tax expense: | (110) | (735) | (295) | (1,160) | ||
Income tax expense: | (53) | 46 | (35) | 41 | ||
Net income (loss): | (57) | (781) | (260) | (1,201) | ||
Net income attributable to non-controlling interest: | (12) | 367 | (16) | 520 | ||
Net (loss) income attributable to SPAR Group, Inc.: | (69) | (414) | (276) | (681) | ||
Depreciation and amortization: | 12 | 11 | 24 | 25 | ||
Capital expenditures | 3 | 6 | 6 | 14 | ||
EMEA [Member] | ||||||
Revenue: | 8,195 | 9,139 | 17,897 | 18,336 | ||
Operating income (loss): | 56 | 434 | 883 | 1,161 | ||
Interest expense (income): | 104 | 61 | 221 | 110 | ||
Other expense (income), net: | (109) | (149) | (190) | (214) | ||
Income before income tax expense: | 61 | 522 | 852 | 1,265 | ||
Income tax expense: | 135 | 160 | 391 | 348 | ||
Net income (loss): | (74) | 362 | 461 | 917 | ||
Net income attributable to non-controlling interest: | (61) | (306) | (483) | (691) | ||
Net (loss) income attributable to SPAR Group, Inc.: | (135) | 56 | (22) | 226 | ||
Depreciation and amortization: | 16 | 9 | 72 | 20 | ||
Capital expenditures | $ 2 | $ 0 | $ 51 | $ 0 |
Note 9 - Segment Information _2
Note 9 - Segment Information - Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | $ 93,076 | $ 94,598 |
Americas [Member] | ||
Assets | 72,804 | 75,440 |
Asia Pacific [Member] | ||
Assets | 8,262 | 5,952 |
EMEA [Member] | ||
Assets | $ 12,010 | $ 13,206 |
Note 9 - Segment Information _3
Note 9 - Segment Information - Long Lived Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Long lived assets | $ 7,047 | $ 6,164 |
Americas [Member] | ||
Long lived assets | 5,257 | 4,605 |
Asia Pacific [Member] | ||
Long lived assets | 962 | 1,244 |
EMEA [Member] | ||
Long lived assets | $ 828 | $ 315 |
Note 9 - Segment Information _4
Note 9 - Segment Information - Geographic Data (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net revenues | $ 65,936 | $ 67,799 | $ 130,316 | $ 126,794 |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Percent of consolidated net revenue | 100% | 100% | 100% | 100% |
UNITED STATES | ||||
Net revenues | $ 26,088 | $ 31,577 | $ 52,281 | $ 54,931 |
UNITED STATES | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Percent of consolidated net revenue | 39.60% | 46.50% | 40.10% | 43.30% |
BRAZIL | ||||
Net revenues | $ 20,016 | $ 17,032 | ||
BRAZIL | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 38,098 | $ 32,600 | ||
Percent of consolidated net revenue | 30.40% | 25.10% | 29.20% | 25.70% |
SOUTH AFRICA | ||||
Net revenues | $ 8,195 | $ 9,138 | ||
SOUTH AFRICA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 17,897 | $ 18,336 | ||
Percent of consolidated net revenue | 12.40% | 13.50% | 13.70% | 14.50% |
MEXICO | ||||
Net revenues | $ 2,559 | $ 2,347 | ||
MEXICO | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 5,032 | $ 4,757 | ||
Percent of consolidated net revenue | 3.90% | 3.50% | 3.90% | 3.80% |
CHINA | ||||
Net revenues | $ 2,225 | $ 1,610 | ||
CHINA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 4,901 | $ 4,470 | ||
Percent of consolidated net revenue | 3.40% | 2.40% | 3.80% | 3.50% |
JAPAN | ||||
Net revenues | $ 1,491 | $ 1,788 | ||
JAPAN | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 3,044 | $ 3,811 | ||
Percent of consolidated net revenue | 2.20% | 2.60% | 2.40% | 3% |
CANADA | ||||
Net revenues | $ 3,420 | $ 2,318 | ||
CANADA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 5,250 | $ 3,965 | ||
Percent of consolidated net revenue | 5.20% | 3.40% | 4% | 3.10% |
INDIA | ||||
Net revenues | $ 1,437 | $ 1,595 | ||
INDIA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 2,843 | $ 3,211 | ||
Percent of consolidated net revenue | 2.10% | 2.40% | 2.20% | 2.50% |
AUSTRALIA | ||||
Net revenues | $ 505 | $ 394 | ||
AUSTRALIA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 970 | $ 713 | ||
Percent of consolidated net revenue | 0.80% | 0.60% | 0.70% | 0.60% |
Note 10 - Leases - Lease Costs
Note 10 - Leases - Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Operating lease cost | $ 71 | $ 114 | $ 141 | $ 255 | |
Short-term lease cost | 35 | 137 | 111 | 262 | |
Variable costs | [1] | 15 | 24 | 31 | 53 |
Total lease cost | $ 121 | $ 275 | $ 283 | $ 570 | |
[1]Variable lease expense consists primarily of property taxes, property insurance, and common area or other maintenance costs for the Company’s leases of office space. |
Note 10 - Leases - Supplemental
Note 10 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Cash paid for amounts included in the measurement of lease liabilities | $ 106 | $ 258 | $ 256 | $ 529 |
Operating lease | $ 808 | $ 0 | $ 1,111 | $ 0 |
Note 10 - Leases - Leases Asset
Note 10 - Leases - Leases Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Operating lease right-of-use assets | $ 1,856 | $ 969 |
Current portion of operating lease liabilities | 877 | 363 |
Non-current portion of operating lease liabilities | 978 | 606 |
Total operating lease liabilities | $ 1,856 | $ 969 |
Weighted-average remaining lease term - operating leases (in years) (Year) | 2 years 1 month 6 days | 2 years 14 days |
Weighted-average discount rate - operating leases | 10% | 6.40% |
Approximation [Member] | ||
Current portion of operating lease liabilities | $ 878 | $ 363 |
Note 10 - Leases - Maturity of
Note 10 - Leases - Maturity of Lease Liability (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
2023 | $ 482 | |
2024 | 791 | |
2025 | 862 | |
2026 | 84 | |
2027 | 49 | |
Thereafter | 45 | |
Total Lease Payments | 2,313 | |
Less: imputed interest | 457 | |
Total | $ 1,856 | $ 969 |
Note 11 - Earnings Per Share -
Note 11 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net income attributable to SPAR Group, Inc. | $ 639 | $ 1,149 | $ 1,505 | $ 1,821 |
Weighted-average common shares outstanding – basic (in shares) | 23,250 | 21,808 | 23,182 | 21,696 |
Stock options and unvested restricted shares (in shares) | 142 | 127 | 155 | 135 |
Weighted-average common shares outstanding – diluted (in shares) | 23,392 | 21,935 | 23,337 | 21,831 |
Basic income per common share attributable to SPAR Group, Inc. (in dollars per share) | $ 0.03 | $ 0.05 | $ 0.06 | $ 0.08 |
Diluted income per common share attributable to SPAR Group, Inc. (in dollars per share) | $ 0.03 | $ 0.05 | $ 0.06 | $ 0.08 |