Note 12 - Segment Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12. Segment Information

The Company reports net revenues from operating income by reportable segment. Reportable segments are components of the Company for which separate financial information is available that is evaluated on a regular basis by the chief operating decisionmaker in deciding how to allocate resources and in assessing performance.

The Company provides similar merchandising and marketing services throughout the world, operating within three reportable geographic segments. The Company evaluates those segments to improve its administration and operational and strategic focuses, and it tracks and reports certain financial information separately for each of those segments. The Company measures the performance of its segments and subsidiaries using the same metrics. The primary measurement utilized by management is operating profits, historically the key indicator of long-term growth and profitability, as the Company may reinvest the operating profits of each of its international subsidiaries in its local markets in an effort to improve market share and continue expansion efforts.

(in Thousands)		Year Ended December 31,
	2023			2022
Net revenues
Americas	$	203,705		$	198,581
Asia - Pacific		24,480			26,009
EMEA		34,562			36,678
Total Net revenues	$	262,747		$	261,268
Operating Income (loss)
Americas	$	7,240		$	4,103
Asia - Pacific		(599	)		(1,621	)
EMEA		2,757			2,904
Total Operating Income (loss)	$	9,398		$	5,386
Interest expense
Americas	$	1,388		$	675
Asia - Pacific		122			39
EMEA		409			251
Total Interest expense	$	1,919		$	965
Other expense (income), net
Americas	$	1,070		$	(38	)
Asia - Pacific		(759	)		(62	)
EMEA		35			(382	)
Total Other expense (income), net	$	346		$	(482	)
Income before income tax expense
Americas	$	4,304		$	3,466
Asia - Pacific		236			(1,598	)
EMEA		2,593			3,035
Total Income before income tax expense	$	7,133		$	4,903
Income tax expense
Americas	$	1,543		$	1,949
Asia - Pacific		62			(18	)
EMEA		752			846
Total Income tax expense	$	2,357		$	2,777
Net income
Americas	$	3,236		$	1,517
Asia - Pacific		(24	)		(1,580	)
EMEA		1,564			2,189
Total Net income	$	4,776		$	2,126
Net income (loss) attributable to non-controlling interest
Americas	$	(492	)	$	1,857
Asia - Pacific		33			(650	)
EMEA		1,333			1,651
Total Net income (loss) attributable to non-controlling interest	$	874		$	2,858
Net Income (loss) attributable to SPAR Group, Inc.
Americas	$	3,729		$	(340	)
Asia - Pacific		(57	)		(930	)
EMEA		230			538
Total Net Income (loss) attributable to SPAR Group, Inc.	$	3,902		$	(732	)
Depreciation and amortization:
Americas	$	1,737		$	1,821
Asia - Pacific		94			104
EMEA		170			108
Total Depreciation and amortization:	$	2,001		$	2,033
Impairment of goodwill
Americas	$	-		$	2,458
Asia - Pacific		-			-
EMEA		-			-
Total Impairment of goodwill	$	-		$	2,458
Capital expenditures:
Americas	$	1,077		$	1,805
Asia - Pacific		71			20
EMEA		101			100
Total Capital expenditures:	$	1,249		$	1,925

There were no inter-segment sales for 2023 or 2022.

	December 31,
	2023		2022
Assets:
Americas	$	71,372	$	75,440
Asia - Pacific		13,361		5,952
EMEA		5,548		13,206
Total assets	$	90,281	$	94,598

Geographic Data (in thousands)

	Year Ended December 31,
	2023					2022
Net international revenue:			% of consolidated net revenue					% of consolidated net revenue
United States	$	104,647		39.8	%	$	112,327		43.0	%
Brazil		74,873		28.5			68,301		26.1	%
South Africa		34,562		13.2			36,678		14.0
Mexico		11,691		4.4			9,706		3.7
China		10,167		3.9			10,931		4.2
Japan		6,256		2.4			7,133		2.7
India		6,148		2.3			6,276		2.4
Canada		12,494		4.8			8,247		3.2
Australia		1,909		0.7			1,669		0.6
Total net international revenue	$	262,747		100.0	%	$	261,268		100.0	%

(in thousands)		Year Ended December 31,
	2023		2022
Long lived assets:
Americas	$	4,585	$	4,605
Asia - Pacific		1,015		1,244
EMEA		745		315
Total long lived assets	$	6,345	$	6,164