Company: CRAI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001053706-25-000020
Chunk: 32

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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, 2024, filed with the SEC on February 20, 2025 for details on these critical accounting policies.

Recent Accounting Standards

There are no recent accounting standards that impact the unaudited condensed consolidated financial statements.

Results of Operations—For the Fiscal Quarter and Fiscal Year-to-Date Period Ended June 28, 2025, Compared to the Fiscal Quarter and Fiscal Year-to-Date Period Ended June 29, 2024

The following table provides operating information as a percentage of revenues for the periods indicated:

Fiscal QuarterEndedFiscal Year-to-DatePeriod EndedJune 28,2025June 29,2024June 28,2025June 29,2024Revenues100.0 %100.0 %100.0 %100.0 %Costs of services (exclusive of depreciation and amortization)68.8 73.1 67.5 71.1 Selling, general and administrative expenses18.8 18.7 18.3 18.2 Depreciation and amortization1.9 1.6 1.9 1.6 Income from operations10.6 6.6 12.3 9.0 Interest expense, net(1.0)(0.9)(0.6)(0.6)Foreign currency gains (losses), net(0.4)(0.1)(0.3)(0.1)Income before provision for income taxes9.2 5.6 11.3 8.3 Provision for income taxes2.7 1.8 3.2 2.4 Net income6.5 %3.8 %8.2 %5.9 %

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Fiscal Quarter Ended June 28, 2025, Compared to the Fiscal Quarter Ended June 29, 2024

Revenues. Revenues increased by $15.5 million, or 9.0%, to $186.9 million for the second quarter of fiscal 2025 from $171.4 million for the second quarter of fiscal 2024. Utilization increased to 76% for the second quarter of fiscal 2025 from 74% for the second quarter of fiscal 2024, while consultant headcount decreased to 937 at the end of the second quarter of fiscal 2025 from 968 at the end of the second quarter of fiscal 2024