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  5. Income Statement
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SPAR Group SGRP
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Quarterly report 2026-Q2
added 08-13-2026

SPAR Group Income Statement 2025-2009 | SGRP

Brief overview of profit and loss at SPAR Group

The overview follows changes across a five-year period. The revenue attributed to SPAR Group moved from $231 million to $136 million between the two endpoints. The total change was −41%, with a CAGR of approximately −10%. Sales followed a declining trajectory over the five years.

The five-year change in gross profit reached −52%: from $45.2 million to $21.7 million. Cost of revenue moved broadly in line with sales. At the margin level, the figure shifted from 19.6% to 15.9%. Weakening gross profitability reduces the quality of the top-line trend.

The five-year EBITDA result moved by −228.8%: from 11.9 million dollars to −15.3 million dollars. EBITDA underperformed the top-line trend. The EBITDA share of revenue changed from 5.1% to −11.2%. Operating return per unit of revenue declined.

Across the five years, the net result shifted from 9 million dollars to −24.6 million dollars. The emergence of a loss requires close attention to costs and the operating model.

The market value of the business moved from 30 million dollars to 14.9 million dollars, or −50.4%. The market became more cautious about the prospects of the business.

Summary assessment

The financial trajectory is weak and requires a cautious interpretation. The weaker side of the profile includes declining capitalization, weak sales momentum and a lower gross margin. Further direction will depend on top-line growth, operating profitability, and net income.

Annual Income Statement SPAR Group

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009

Market Cap

 14.9 M 28.5 M 31.5 M 28.7 M - 30 M 24.1 M 12.4 M 33.6 M 23.7 M 22.6 M 29 M 40 M 35.2 M 26.5 M 17.3 M -

Shares

 23.6 M 23.6 M 23.3 M 22.1 M - 21.1 M 20.9 M 20.7 M 20.6 M 20.6 M 20.6 M 20.6 M 20.5 M 20.2 M 20 M 19.2 M -

Historical Prices

 0.63 1.21 1.35 1.3 1.33 1.83 1.13 0.64 1.24 1.05 1.08 1.57 1.97 1.77 1.19 0.9 0.41

Net Income

 -24.6 M -3.15 M 3.9 M -732 K 2 M 8.96 M 2.42 M -1.55 M -923 K 173 K 892 K 3.27 M 3.35 M 2.93 M 2.21 M 2.28 M -

Revenue

 136 M 164 M 188 M 261 M - 231 M 253 M 229 M 181 M 134 M 119 M 122 M 112 M 103 M 73.5 M - -

Cost of Revenue

 114 M 130 M 138 M 201 M - 185 M 204 M 185 M 145 M 105 M 90 M 91.7 M 84.4 M 72.2 M 51 M 42.2 M -

Gross Profit

 21.7 M 33.6 M 44.4 M 51 M - 45.2 M 49.2 M 44.3 M 36.8 M 29.5 M 29.3 M 30.4 M 27.6 M 27.2 M 22.5 M 21 M -

Operating Income

 -16.9 M 700 K 5.58 M 5.39 M - 9.72 M 10.2 M 3.73 M 4.09 M 2.2 M 3.26 M 3.29 M 2.9 M 3.92 M 2.88 M 2.83 M -

Interest Expense

 -1.24 M -171 K -346 K 482 K - 242 K 266 K 406 K 337 K 133 K 214 K 158 K 171 K 129 K 197 K 310 K -

EBITDA

 -15.3 M 2.3 M 7.58 M 7.39 M - 11.9 M 12.4 M 5.84 M 6.22 M 4.3 M 5.17 M 5.04 M 4.4 M 5.17 M 3.95 M 3.85 M -

Operating Expenses

 - - - - - 33.3 M 39.1 M 40.6 M 32.7 M 27.3 M 26 M 27.1 M 24.7 M 23.2 M 19.6 M - -

General and Administrative Expenses

 32.2 M 33.9 M 36.6 M 41.1 M - 33.3 M 36.9 M - - - - - - - - 17.1 M -

All numbers in USD currency

Quarterly Income Statement SPAR Group

2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

 23.5 M 24.1 M - 23.6 M 23.5 M 23.4 M 23.4 M 23.4 M 23.8 M 23.8 M 23.4 M 23.2 M 23.2 M 23.1 M 22.9 M 22.2 M 21.8 M 21.6 M 21.3 M 21.3 M 21.3 M 21.2 M 21.1 M 21.1 M 21.1 M 21.1 M 21.1 M 21 M 20.8 M 20.8 M 20.8 M 20.7 M 20.6 M 20.6 M - 20.6 M 20.6 M 20.6 M - 20.6 M 20.6 M 20.6 M - 20.6 M 20.6 M 20.6 M 20.6 M 20.6 M 20.6 M 20.6 M - 20.5 M 20.5 M 20.5 M 20.5 M 20.3 M 20.1 M 20.1 M 20.1 M 20.1 M 20 M 19.6 M

Net Income

 462 K -553 K - -8.76 M -1 K 462 K - -182 K -3.89 M 6.63 M - 259 K 639 K 866 K - -32 K 1.15 M 1.46 M - 1.18 M 1.13 M 1.78 M - 1.14 M -103 K 298 K - 907 K 1.52 M 619 K - 621 K -1.76 M 124 K - 246 K 343 K -244 K - -58 K 283 K -139 K - -92 K 29 K -74 K - 383 K 577 K -369 K - 523 K 59 K 213 K - 859 K 636 K 459 K - 359 K 504 K 283 K

Revenue

 38.6 M 30.5 M - 41.4 M 38.6 M 34 M - 37.8 M 43.4 M 49.4 M - 67.3 M 65.9 M 64.4 M - 69.8 M 67.8 M 59 M - 67.4 M 67.2 M 61.1 M - 58.9 M 50.9 M 61.3 M - 66.4 M 68.2 M 57.2 M - 58.4 M 59.2 M 54.6 M - 48.8 M 42.7 M 39.9 M - 33.4 M 29.7 M 26.6 M - 28.3 M 29.5 M 29.3 M - 31 M 30.9 M 28 M - 27.8 M 27.4 M 25 M - 25.4 M 24.3 M 21 M - 17.6 M 15.9 M 16.4 M

Cost of Revenue

 29.6 M 23.7 M - 33.7 M 29.6 M 26.8 M - 29.3 M 34.4 M 39.7 M - 52.3 M 51.2 M 48.7 M - 54.5 M 52.3 M 45 M - 52.7 M 53.2 M 47 M - 46.8 M 41.1 M 49.6 M - 53.9 M 54.2 M 46.5 M - 46.5 M 48.8 M 44.8 M - 40 M 33.8 M 31.8 M - 26.2 M 22.7 M 20.4 M - 21.6 M 22.3 M 22.4 M - 23.7 M 23.2 M 21.8 M - 21.2 M 20.8 M 19.2 M - 19 M 17.6 M 15.3 M - 12.5 M 11 M 11.2 M

Gross Profit

 9.06 M 6.81 M - 7.69 M 9.06 M 7.28 M - 8.44 M 8.96 M 9.71 M - 13.4 M 13.1 M 14.1 M - 12.8 M 12.9 M 11.8 M - 12.6 M 12 M 12.3 M - 12 M 9.87 M 11.8 M - 12.5 M 14.1 M 10.6 M - 11.8 M 10.5 M 9.73 M - 8.79 M 8.96 M 8.05 M - 7.28 M 7.03 M 6.17 M - 6.71 M 7.17 M 6.91 M - 7.31 M 7.7 M 6.23 M - 6.52 M 6.57 M 5.81 M - 6.32 M 6.71 M 5.77 M - 5.05 M 4.96 M 5.23 M

Operating Income

 715 K -42 K - -5.92 M 715 K 1.04 M - -1.53 M -966 K 8.67 M - 1.54 M 2 M 3.15 M - 1.72 M 2.36 M 2.07 M - 2.68 M 1.89 M 2.72 M - 3.34 M 1.96 M 1.48 M - 3.05 M 4.23 M 1.73 M - 2.32 M -1.24 M 730 K - 828 K 971 K 485 K - 430 K 780 K 168 K - 229 K 513 K 349 K - 547 K 1.01 M -103 K - 390 K 206 K 305 K - 906 K 781 K 470 K - 401 K 555 K 397 K

Interest Expense

 -7 K 16 K - -463 K -7 K 9 K - -472 K 296 K -7 K - 164 K 125 K 58 K - 126 K 149 K 87 K - 137 K -5 K 75 K - 143 K 50 K 8 K - 11 K 192 K 65 K - 109 K 232 K 72 K - 78 K 135 K 62 K - 51 K 31 K 28 K - 47 K 82 K 58 K - 44 K 41 K 43 K - 28 K 20 K 31 K - 32 K 12 K 51 K - 55 K 24 K -9 K

EBITDA

 1.13 M 368 K - -5.52 M 1.13 M 1.4 M - -1.08 M -515 K 9.15 M - 2.09 M 2.49 M 3.68 M - 2.23 M 2.86 M 2.58 M - 3.18 M 2.42 M 3.25 M - 3.87 M 2.5 M 2.02 M - 4.61 M 5.27 M 2.24 M - 3.92 M -165 K 1.27 M - 2.35 M 2.01 M 990 K - 1.89 M 1.75 M 656 K - 1.64 M 1.46 M 817 K - 1.81 M 1.84 M 309 K - 778 K 615 K 607 K - 1.2 M 1.07 M 747 K - 681 K 820 K 659 K

Operating Expenses

 8.35 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

General and Administrative Expenses

 7.93 M 6.2 M - 9.19 M 7.93 M 5.87 M - 8.56 M 8.07 M 7.72 M - 11.3 M 10.6 M 10.5 M - 10.6 M 10.1 M 9.25 M - 9.43 M 9.58 M 9.01 M - 8.14 M 7.37 M 9.77 M - 8.94 M 9.31 M 8.39 M - 9 M 9.2 M 8.46 M - 7.48 M 7.45 M 7.06 M - 6.36 M 5.76 M 5.51 M - 6.01 M 6.18 M 6.1 M - 6.33 M 6.27 M 5.92 M - 5.75 M 5.95 M 5.2 M - 5.11 M 5.63 M 5.02 M - 4.37 M 4.14 M 4.57 M

All numbers in USD currency

The income statement is one of the three key financial reports of a company SPAR Group (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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