secwatch.observer — SEC 8-K summary
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Issuer:     SPAR Group, Inc. (SGRP)
CIK:        0001004989
Form:       8-K
Filed at:   2026-03-31T23:59:59+00:00
Accession:  0001437749-26-010503
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPAR Group reports FY2025 net loss of $24.6M; adjusted EBITDA loss of $8.6M
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- GAAP net loss $24.6M ($1.04/diluted share) vs $3.2M loss in 2024.
- Full-year net revenue $136.1M, up 3.3% comparable in US/Canada; gross margin 15.9% vs 20.5%.
- Adjusted EBITDA loss $8.6M vs positive $5.6M in 2024; restructuring costs $4.8M.
- Subsequent event: $4M unsecured loan at 8% due 2029, plus 1M shares at $0.80 applied to principal.
- Management targets SG&A below $6.5M/quarter; medium-term goal of 15% or less of sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1004989/000143774926010503/0001437749-26-010503-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1004989/000143774926010503/sgrp20260327_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-010503

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer