SGRP

MKT CAP:$15M

SPAR Group, Inc.

Market Cap

$15M

Industrials·Specialty Business Services·🇺🇸 United States·NASDAQ

Industrials·Specialty·🇺🇸·NASDAQ

Stock Price

$0.59-$0.30 (-33.15%)

Apr 21, 2026

Company Details

SPAR Group, Inc., together with its subsidiaries, provides merchandising and brand marketing services worldwide. The company offers syndicated and dedicated merchandising services at the retail store level for retailers, manufacturers, and ...

CEO

William Linnane

IPO Date

Mar 1, 1996

Website

www.sparinc.com

Key Metrics TTM

Revenue

$136M

-38.8% YoY

Net Income

-$25M

EPS (Diluted)

-$1.03

Free Cash Flow

-$21M

Revenue / Share

$5.69

Gross Margin

15.9%

Operating Margin

-11.9%

Net Margin

-18.1%

FCF Margin

-15.7%

P/S

0.1x

P/E

—

Earnings Reports

FY 2025

Mar 31, 2026

$136MEPS -$1.04

Q4 2025

Mar 31, 2026

$22MEPS -$0.68

Q3 2025

Nov 14, 2025

$41M+9.6%EPS -$0.37

Q2 2025

Aug 14, 2025

$39MEPS $0.00

Q1 2025

Jul 17, 2025

$34MEPS $0.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$59M	$11M	$3M
Q4 21	$60M	$11M	-$3M
Q4 23	$65M	$15M	$3M
Q3 24	$38M	$8M	-$1M
Q1 25	$34M	$7M	$1M
Q2 25	$39M	$9M	$715.0K
Q3 25	$41M	$8M	-$6M
Q4 25	$22M	-$2M	-$12M

Valuation

Quarter	P/S	P/E
Q4 20	—	—
Q4 21	—	—
Q4 23	—	—
Q3 24	0.3x	—
Q1 25	0.2x	—
Q2 25	0.1x	9.2x
Q3 25	0.2x	—
Q4 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	$2M	$1M
Q4 21	$2M	$1M
Q4 23	$5M	$5M
Q3 24	-$900.0K	-$1M
Q1 25	-$4M	-$5M
Q2 25	-$8M	-$8M
Q3 25	-$4M	-$5M
Q4 25	-$2M	-$4M

Capital Expenditures

Quarter	CapEx
Q4 20	$352.0K
Q4 21	$290.0K
Q4 23	$159.0K
Q3 24	$127.0K
Q1 25	$525.0K
Q2 25	$434.0K
Q3 25	$575.0K
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 25	-42.7%	-41.5%
Q2 25	-35.6%	-39.9%
Q3 25	-36.4%	-24.1%
Q4 25	-41.7%	-13.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$0	0.0%
Q4 21	$0	0.0%
Q4 23	$80.0K	0.1%
Q3 24	-$149.0K	-0.4%
Q1 25	$27.0K	0.1%
Q2 25	$27.0K	0.1%
Q3 25	$0	0.0%
Q4 25	$2.0K	0.0%

OpEx Breakdown

Quarter	R&D	S&M	SG&A
Q4 20	—	—	$8M
Q4 21	$1M	$9M	—
Q4 23	—	—	$11M
Q3 24	—	—	$9M
Q1 25	—	—	$6M
Q2 25	—	—	$8M
Q3 25	—	—	$9M
Q4 25	—	—	$9M

Revenue by Geography

Quarter	Americas	Asia Pacific	Canada	United States
Q3 24	$35M	$2M	—	—
Q1 25	—	—	$3M	$31M
Q2 25	—	—	$3M	$35M
Q3 25	—	—	$3M	$38M
Q4 25	—	—	$4M	$18M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$14M	$0	$14M
Q2 22	$12M	$0	$12M
Q3 22	$11M	$0	$11M
Q4 22	$9M	$0	$9M
Q1 23	$11M	$0	$11M
Q2 23	$11M	$0	$11M
Q3 23	$8M	$0	$8M
Q4 23	$11M	$0	$11M
Q1 24	$17M	$0	$17M
Q2 24	$22M	$0	$22M
Q3 24	$20M	$0	$20M
Q4 24	$18M	$0	$18M
Q1 25	$18M	$0	$18M
Q2 25	$14M	$0	$14M
Q3 25	$8M	$0	$8M
Q4 25	$3M	$0	$3M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	21M	—	—
Q4 21	22M	+2.1%	—
Q4 23	23M	+8.3%	—
Q3 24	23M	+0.3%	—
Q1 25	24M	+0.5%	+11.4%
Q2 25	23M	-0.2%	+8.8%
Q3 25	24M	+0.8%	+1.4%
Q4 25	24M	+0.9%	+2.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	$13.2K	5K
Q4 21	$12.0K	5K
Q4 23	$3.8K	17K
Q3 24	$2.2K	17K
Q1 25	$9.9K	3K
Q2 25	$11.3K	3K
Q3 25	$12.1K	3K
Q4 25	$6.4K	3K

Revenue / Employee