SPAR Group (SGRP) Continues Work on Annual Report on Form 10-K for Fiscal Year ended December 31, 2024

SPAR Group, Inc. (NASDAQ: SGRP) (“SGRP”, “SPAR Group” or the “Company”), a provider of merchandising, marketing and distribution services announced today that it will not timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “Report”).

As reported by the Company on March 31, 2025, in Form 12b-25 filed with the Securities and Exchange Commission, the Company is unable to file the Report because it required additional time to finalize its consolidated financial statements for inclusion in the Report.

The Company is navigating the extended closing of the announced merger transaction and the conversion to a new ERP system. The Company is continuing to work with its independent registered accounting firm to finalize its audit procedures and is not in a position to file the Report within the 15-calendar-day extension period provided by the Form 12b-25 filing. The Company will file the Report as soon as the year-end audit work is completed.

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