Filing Flows › Spar Group (SGRP) › Q4 2025
Spar Group (SGRP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Spar Group (SGRP) reported revenue of $22.0M for the fourth quarter 2025 (Q4 2025), -33% from a year earlier and -47% from the quarter before. Operating margin was -57.8%, net loss $16.3M (74.1% of revenue).
Spar Group, Q4 2025: revenue $22.0M (-33% year over year), operating margin -57.8%, net loss $16.3M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.0M | -47% | -33% |
| Operating profit | −$12.7M | — | — |
| Net earnings | −$16.3M | — | — |
| Operating cash flow | −$2.5M | — | — |
What changed
Revenue was $22.0M in Q4 2025, down 33% year over year and down 47% from the previous quarter.
Operating costs exceeded revenue by $12.7M, an operating margin of -57.8%. The quarter ended with a net loss of $16.3M, wider than the previous quarter's $8.8M loss.
Operating cash flow was −$2.5M. Non-cash charges added back $449K of depreciation and amortization and $2K of share-based compensation. Working capital and other items added $13.4M. Capital expenditures of $1.4M exceeded it, leaving free cash flow of −$3.9M.
Questions
What was Spar Group's revenue in the fourth quarter 2025?
Spar Group (SGRP) reported revenue of $22.0M for the fourth quarter 2025 (Q4 2025), -33% from a year earlier and -47% from the quarter before.
Was Spar Group profitable in the fourth quarter 2025?
Operating loss was $12.7M (-57.8% of revenue) and net loss $16.3M.
Source: Spar Group 10-K on SEC EDGAR.