| Segment Reporting Disclosure [Text Block] |
13. Segment Information
The Company has three reportable geographic segments: Americas, Asia-Pacific, and EMEA. The Company’s Chief Executive Officer, who serves as the Chief Operating Decision Maker (CODM), regularly reviews financial information for each segment, including net revenues, selling, general and administrative expense, depreciation and amortization, interest expense, other expense (income), net income (loss) from continuing operations before income tax expense, income tax expense (benefit), and net income (loss) from continuing operations. These measures are used by the CODM to assess segment performance, make decisions regarding resource allocation, and evaluate current operating results and long-term strategic opportunities in each geographic market. As detailed in Note 2, Summary of Significant Accounting Policies, and Note 3, Restatement of Previously Issued Consolidated Financial Statements, the presentation of certain amounts disclosed below have been restated.
SPAR Group, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (continued)
13. Segment Information (continued)
| (in Thousands) | | Year Ended December 31, | |
| | | 2024 | | | 2023 | |
| Net revenues | | | | | | | | |
| Americas | | $ | 144,047 | | | $ | 128,832 | |
| Asia - Pacific | | | 11,305 | | | | 24,480 | |
| EMEA | | | 8,277 | | | | 34,562 | |
| Total Net revenues | | $ | 163,629 | | | $ | 187,874 | |
| | | | | | | | | |
| Selling, general and administrative expense | | | | | | | | |
| Americas | | $ | 29,635 | | | $ | 23,166 | |
| Asia - Pacific | | | 3,107 | | | | 8,437 | |
| EMEA | | | 1,138 | | | | 5,023 | |
| Total Selling, general and administrative expense | | $ | 33,880 | | | $ | 36,626 | |
| | | | | | | | | |
| Operating Income (loss) | | | | | | | | |
| Americas | | $ | 1,597 | | | $ | 3,418 | |
| Asia - Pacific | | | (999 | ) | | | (599 | ) |
| EMEA | | | 102 | | | | 2,757 | |
| Total Operating Income | | $ | 700 | | | $ | 5,576 | |
| | | | | | | | | |
| Interest expense | | | | | | | | |
| Americas | | $ | 2,126 | | | $ | 1,700 | |
| Asia - Pacific | | | 65 | | | | 122 | |
| EMEA | | | - | | | | 409 | |
| Total Interest expense | | $ | 2,191 | | | $ | 2,231 | |
| | | | | | | | | |
| Other expense (income), net | | | | | | | | |
| Americas | | $ | (1,083 | ) | | $ | 1,070 | |
| Asia - Pacific | | | 1,254 | | | | (759 | ) |
| EMEA | | | - | | | | 35 | |
| Total Other expense, net | | $ | 171 | | | $ | 346 | |
| | | | | | | | | |
| Income (loss) from continuing operations before taxes | | | | | | | | |
| Americas | | $ | 554 | | | $ | 170 | |
| Asia - Pacific | | | (1,064 | ) | | | 236 | |
| EMEA | | | (1,152 | ) | | | 2,593 | |
| Total Income (loss) from continuing operations before taxes | | $ | (1,662 | ) | | $ | 2,999 | |
| | | | | | | | | |
| Income tax expense (benefit) | | | | | | | | |
| Americas | | $ | 169 | | | $ | (166 | ) |
| Asia - Pacific | | | (64 | ) | | | 62 | |
| EMEA | | | 39 | | | | 752 | |
| Total Income tax expense | | $ | 144 | | | $ | 648 | |
| | | | | | | | | |
| Income (loss) from continuing operations | | | | | | | | |
| Americas | | $ | 385 | | | $ | 811 | |
| Asia - Pacific | | | (1,000 | ) | | | (24 | ) |
| EMEA | | | (1,191 | ) | | | 1,564 | |
| Total Income (loss) from continuing operations | | $ | (1,806 | ) | | $ | 2,351 | |
| | | | | | | | | |
| Depreciation and amortization: | | | | | | | | |
| Americas | | $ | 1,455 | | | $ | 1,563 | |
| Asia - Pacific | | | 66 | | | | 94 | |
| EMEA | | | 32 | | | | 170 | |
| Total Depreciation and amortization: | | $ | 1,553 | | | $ | 1,827 | |
| | | | | | | | | |
| Capital expenditures: | | | | | | | | |
| Americas | | $ | 1,134 | | | $ | 1,077 | |
| Asia - Pacific | | | 5 | | | | 71 | |
| EMEA | | | - | | | | 101 | |
| Total Capital expenditures: | | $ | 1,139 | | | $ | 1,249 | |
There were no inter-segment sales for 2024 or 2023.
| | | December 31, | |
| | | 2024 | | | 2023 | |
| Assets: | | | | | | | | |
| Americas | | $ | 56,431 | | | $ | 43,121 | |
| Asia - Pacific | | | - | | | | 13,361 | |
| EMEA | | | - | | | | 5,548 | |
| Discontinued Operations | | | - | | | | 28,251 | |
| Total assets | | $ | 56,431 | | | $ | 90,281 | |
Geographic Data (in thousands)
| | | Year Ended December 31, | |
| | | 2024 | | | 2023 | |
| Net international revenue: | | | | | | % of consolidated net revenue | | | | | | | % of consolidated net revenue | |
| | | | | | | | | | | | | | | | | |
| United States | | $ | 117,507 | | | | 71.8 | % | | $ | 104,648 | | | | 55.7 | % |
| South Africa | | | 8,277 | | | | 5.1 | % | | | 34,562 | | | | 18.4 | % |
| Mexico | | | 12,235 | | | | 7.5 | % | | | 11,691 | | | | 6.2 | % |
| China | | | 2,698 | | | | 1.6 | % | | | 10,167 | | | | 5.4 | % |
| Japan | | | 3,778 | | | | 2.3 | % | | | 6,256 | | | | 3.3 | % |
| India | | | 4,829 | | | | 3.0 | % | | | 6,148 | | | | 3.3 | % |
| Canada | | | 14,305 | | | | 8.7 | % | | | 12,494 | | | | 6.7 | % |
| Australia | | | - | | | | 0.0 | % | | | 1,909 | | | | 1.0 | % |
| Total net international revenue | | $ | 163,629 | | | | 100.0 | % | | $ | 187,875 | | | | 100.0 | % |
| (in thousands) | | Year Ended December 31, | |
| | | 2024 | | | 2023 | |
| Long lived assets: | | | | | | | | |
| Americas | | $ | 4,479 | | | $ | 4,615 | |
| Asia - Pacific | | | - | | | | 1,015 | |
| EMEA | | | - | | | | 745 | |
| Total long lived assets | | $ | 4,479 | | | $ | 6,375 | |
|