)
Visual
test
SPAR Group
SPAR Group (SGRP) investor relations material
SPAR Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Net revenues for Q3 2025 increased 9.5% year-over-year to $41.4 million, driven by US market growth despite international divestitures.
Net revenues for U.S. and Canada grew 28.2% year-over-year in Q3 2025, fueled by topline momentum and one-off project work.
Operating loss for Q3 2025 was $5.9 million, compared to a $1.5 million loss in Q3 2024, impacted by $4.0 million in restructuring and severance costs.
Net loss attributable to shareholders was $8.8 million for Q3 2025, compared to $0.2 million in Q3 2024.
The company completed strategic exits from international joint ventures in Mexico, Japan, India, South Africa, China, and Brazil during 2024.
Financial highlights
Q3 2025 net revenues were $41.4 million; consolidated gross margin was 18.6% versus 22.3% in Q3 2024.
Selling, general and administrative expenses rose to $9.2 million (22.2% of revenue) in Q3 2025, up from $8.6 million (22.6%) in Q3 2024, due to one-time relocation and legal costs.
Adjusted EBITDA for Q3 2025 was $0.1 million, compared to $0.7 million in Q3 2024.
For the nine months ended September 30, 2025, net revenues were $114.1 million, with a 12.6% year-over-year increase in U.S. and Canada.
Net cash used in operating activities for the nine months ended September 30, 2025 was $16.0 million, primarily due to increased accounts receivable.
Outlook and guidance
Management expects existing credit facilities and projected operations to provide sufficient liquidity for the next 12 months, but notes risks from delayed receivables or economic downturns.
The company extended its main credit facility through October 2027, increasing total availability to $36 million.
Revenue growth in U.S. and Canada expected to be higher in the second half of 2025 than the first half.
2026 initiatives focus on adjusting to a new sales mix, improving margins, and reducing SG&A to $6.5 million per quarter or lower (excluding one-time items).
Emphasis on cash flow generation and disciplined working capital management.
North America growth strategy post-JV exits
Assess current liquidity given cash flow trends
When will internal control weaknesses be fully remediated?
Detail 2026 initiatives to improve revenue mix margins
What specific actions drive SG&A below $6.5M quarterly?
How will working capital discipline reduce AR balances?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- SHAK
Revenue up 16.5%, net income $10.4M, and 23 new Shacks opened, with margin expansion. - DHC
Q1 2025 delivered 4.3% revenue growth, narrowed net loss, and strong SHOP segment gains. - DHCQ3 2025 revenue up, SHOP improved, but net loss rose on impairments and transitions.
- IKS
Q3 FY26 delivered 24% revenue growth, 40% EBITDA growth, and strong EPS with clean audit. - SHAKRevenue, net income, and margins rose, with 22 new locations and digital sales growth.
- DHCQ4 revenue up 5%, SHOP NOI up 56%, and a $7.2B portfolio supports debt reduction.
- DHCSHOP segment drives NOI growth, but net loss widens amid asset sales and cost pressures.
- DHCQ2 2024 delivered strong SHOP NOI growth and higher revenues despite a wider net loss.
- REDINGTON
Record Q3 revenue and profit, SSG leads growth, Arena losses narrow, cash flow improves. - KPIL
Strong revenue, profit, and order growth with margin expansion and lower debt.
Next SPAR Group earnings date
Q4 202524 Apr, 2026
SPAR Group
Next SPAR Group earnings date
Q4 202524 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
SPAR Group Inc. is a global merchandising and marketing services company that provides a wide range of in-store solutions to retailers and consumer goods companies. The company's services include product merchandising, shelf maintenance, retail audits, and assembly services. SPAR Group operates across multiple industries such as consumer electronics, health and beauty, automotive, and grocery, helping clients improve product visibility and optimize retail operations. The company is headquartered in Auburn Hills, Michigan, USA, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage