← BackSPAR Group, Inc. · Business Services, NECSGRP
High riskNext report: Around Nov 17 (est.)
The short versionA company still losing money with steady sales, with high risk.
Watch out for
- About 2 months of cash left at its current burn
- Losing money
- High debt: 2.87x equity
Money moves
- No insider buying or selling in the last 30 days
- Institutions added 31% to their holdings in the quarter ending June 2026 (6 bought, 8 sold)
Facts from SEC filings, not a recommendation.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26$36.9M-4.5% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $130.9M, down 8.8% from the 12 months before. Over 5 years, sales shrank about 10% a year.
Business quality
The checklist Warren Buffett-style investors use. Annual numbers for 2025.- MissReturn on equity 15%+Earns a lot on the money owners have in the business.-197.6%
- MissDebt under half of equityNot relying on borrowed money.2.87x equity
- MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-18.1%
- MissProfitable every yearSteady profits, not one good year.6 of 10 years
- MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$18.4M
- MissShare count not growingNot diluting owners. Falling means buybacks.+6.8% in 3 years
- MissGross margin 40%+Pricing power: sells for well above what it costs to make.15.9%
- Revenue
- $136.1M
- -16.8% vs prior year
- 5-year growth
- -10.0%/yr
- revenue, per year
- Total debt
- $1.8M
- 2.87x equity
- Current ratio
- 0.83x
- short-term assets / bills due
From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026- Revenue
- $36.9M
- -4.5% YoY
- EPS
- $0.02
- vs $0.00
- Op. margin
- 3.3%
- +1.4 pts
- Gross margin
- 22.8%
- -0.7 pts
- Free cash flow
- -$5.3M
- Share count
- +11.7%
- vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trendNo trades to chart yet.
Filing buzz
Last 7 days vs normal
50/ 100
- This week
- 1
- Normal week
- 1.0
- vs normal
- 1.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+31.2%Institutions added 31.2% to their holdings. 6 bought, 8 sold.
Shares held by institutions2.3M
Sep '24Jun '26
Share count growthYearly rate, last 3 years
+6.9%Cash runwayAt last year's cash burn
2 monthsDebt to equityLatest balance sheet: debt compared with what owners have
1.3x · $4.1M debtShares outstandingLatest reported
28MWhy high risk- Losing money
- About 2 months of cash left at its current burn
- Share count growing 6.9% a year
- Debt above equity: 1.26x
- Bills due within a year exceed short-term assets
- Revenue down 16.8% from the year before
- 1 offering filing in 6 months (may sell new shares)
- Exchange listing notice (a delisting warning or a move to another exchange)
- Auditor change
Next reportAround Nov 17 (est.)Estimated from the same quarter last year
- Results filedAug 13
- Results filedMay 12
- Results filedMar 31
- Results filedNov 18, 2025
- Results filedAug 18, 2025
Insider trades
Open-market buys and sells, last 90 days
No open-market buys or sells in 90 days. Grants and option exercises are left out.
"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.
Latest filings
Straight from SEC EDGAR
Stock awardLinda M HoustonDirector
110,000 shares
- Now owns 110,000 shares
- Filed 2 days after trade
Stock awardTimothy Patrick CookDirector
110,000 shares
- Now owns 110,000 shares
- Filed 2 days after trade
Stock awardJohn B BodeDirector
110,000 shares
- Now owns 110,000 shares
- Filed 2 days after trade
Stock awardWilliam LinnaneChief Executive Officer, Director
200,000 shares
- +105% of holdings
- Now owns 390,909 shares
- Filed 5 days after trade
GiftRobert G/ Brown10% owner
135,000 shares
- +5% of holdings
- Now owns 2,742,389 shares
- Filed 1 day after trade