Filing Flows › Spar Group (SGRP) › Q3 2025
Spar Group (SGRP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Spar Group (SGRP) reported revenue of $41.4M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +7% from the quarter before. Operating margin was -14.3%, net loss $8.8M (21.2% of revenue).
Spar Group, Q3 2025: revenue $41.4M (+10% year over year), operating margin -14.3%, net loss $8.8M, operating cash flow −$4.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $41.4M | +7% | +10% |
| Operating profit | −$5.9M | -928% | — |
| Net earnings | −$8.8M | — | — |
| Operating cash flow | −$4.1M | — | — |
What changed
Revenue was $41.4M in Q3 2025, up 10% year over year and up 7% from the previous quarter.
Gross margin was 18.6%, down 3.8 points from a year earlier. Operating costs exceeded revenue by $5.9M, an operating margin of -14.3%. Operating expenses grew 36% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+213%). The quarter ended with a net loss of $8.8M, wider than the previous quarter's $1K loss.
Operating cash flow was −$4.1M. Non-cash charges added back $404K of depreciation and amortization and $84K of share-based compensation. Working capital and other items added $4.2M. Capital expenditures of $575K exceeded it, leaving free cash flow of −$4.6M.
Questions
What was Spar Group's revenue in the third quarter 2025?
Spar Group (SGRP) reported revenue of $41.4M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +7% from the quarter before.
Was Spar Group profitable in the third quarter 2025?
Operating loss was $5.9M (-14.3% of revenue) and net loss $8.8M.
Source: Spar Group 10-Q on SEC EDGAR.