{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-023099","form_type":"8-K","ticker":"SGRP","cik":"0001004989","company_name":"SPAR Group, Inc.","filed_at":"2025-07-21T23:59:59+00:00","discovered_at":"2026-05-14T18:02:43.112342+00:00","generated_at":"2026-05-18T04:53:39.001030+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"SPAR Group reports Q1 net income $0.5M; merger with Highwire Capital terminated","bullets":["Net revenue $34.0M; net income from continuing ops $0.5M ($0.02 diluted EPS) vs $6.6M ($0.26) in Q1 2024 which included $7.2M non-cash gain.","Adjusted EBITDA $1.5M (4.4% of sales) vs $2.5M (5.0%) in prior year quarter.","US/Canada business achieved 6% topline growth; gross margin improved to 21.4% from 19.7%.","Merger agreement with Highwire Capital terminated due to Highwire's inability to produce funds; Board pursuing termination fee.","Company notes largest pipeline opportunity of >$200M; delayed filings attributable to expected going-private transaction."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-023099","json":"https://secwatch.observer/filing/0001437749-25-023099.json","markdown":"https://secwatch.observer/filing/0001437749-25-023099.md","text":"https://secwatch.observer/filing/0001437749-25-023099.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1004989/000143774925023099/0001437749-25-023099-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1004989/000143774925023099/sgrp20250319_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T04:53:39.001030+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}