Filing Flows › Spar Group (SGRP) › Q1 2025
Spar Group (SGRP) Q1 2025 earnings results (first quarter 2025)
10-Q filed Jul 17, 2025
Spar Group (SGRP) reported revenue of $34.0M for the first quarter 2025 (Q1 2025), -31% from a year earlier. Operating margin was 3.0%, net earnings $462K (1.4% of revenue).
Spar Group, Q1 2025: revenue $34.0M (-31% year over year), operating margin 3.0%, net earnings $462K, operating cash flow −$4.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.0M | — | -31% |
| Gross profit | $7.3M | — | -25% |
| Operating profit | $1.0M | — | -88% |
| Net earnings | $462K | — | -94% |
| Operating cash flow | −$4.0M | — | — |
What changed
Revenue was $34.0M in Q1 2025, down 31% year over year.
Gross margin was 21.4%, up 1.7 points from a year earlier. Operating profit was $1.0M, a 3.0% margin (down 14.5 points year over year). Operating expenses grew 499% against a revenue fall of 31%. Net earnings were $462K, down 93% year over year. The effective tax rate was 19.8%.
Operating cash flow was −$4.0M. Non-cash charges added back $367K of depreciation and amortization and $27K of share-based compensation. Working capital and other items used $4.9M. Capital expenditures of $525K exceeded it, leaving free cash flow of −$4.6M.
Questions
What was Spar Group's revenue in the first quarter 2025?
Spar Group (SGRP) reported revenue of $34.0M for the first quarter 2025 (Q1 2025), -31% from a year earlier.
Was Spar Group profitable in the first quarter 2025?
Operating profit was $1.0M (3.0% of revenue) and net earnings $462K.
Source: Spar Group 10-Q on SEC EDGAR.