SPAR Group Q2 2023 revenue down 2.7% to $65.9M; EPS $0.03 vs $0.05 prior year

SPAR Group, Inc.

2023-Q2 EPS reported $0.06 revenue$130,316,000

Revenue $65.9M, -2.7% YoY; constant currency +0.8%. US merchandising +16%, Brazil +18%, Canada +48%.
GAAP net income $639k ($0.03/share) vs $1.1M ($0.05); Non-GAAP net income $696k ($0.03).
Adjusted EBITDA $2.6M vs $3.0M; gross margin improved 80bps to 19.9%.
Cash from operations $6.7M YTD; total liquidity $19.8M ($10.9M cash).
No update on strategic alternatives review; continues to explore options.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

SPAR Group, Inc. reported the second quarter ended June 30, 2023 results: revenue $65.9 million, net income $639 thousand, or $0.03 per share, EPS $0.03 per share.

Period: the second quarter ended June 30, 2023
Revenue: $65.9 million
Net income: $639 thousand, or $0.03 per share
EPS: $0.03 per share
Result: reported results

Exact text from the filing

growing the business, serving our clients and supporting our employees and joint venture partners,” concluded Matacunas. Second Quarter 2023 Financial Results Net revenues were $65.9 million, comprised of $52.1 million from Americas (79.0%) and $8.2 million from EMEA (12.4%), and $5.7 million from APAC (8.6%). Total net revenue decreased by 2.7%, up 0.8% on a

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Source: SEC EDGAR

accession 0001437749-23-023944

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