Company: CRAI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001053706-25-000029
Chunk: 23

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 expects the adoption of this ASU will have no impact on its financial position or its results of operations, but will result in additional disclosures.

2. Revenues and Allowances

The contracts CRA enters into and operates under specify whether the projects are billed on a time-and-materials or a fixed-price basis. Time-and-materials contracts are typically used for litigation, regulatory, and financial consulting projects while fixed-price contracts are principally used for management consulting projects. In general, project costs are classified in costs of services and are based on the direct salary of CRA’s employee consultants on the engagement, plus all direct expenses incurred to complete the project, including any amounts billed to CRA by its non-employee experts.Disaggregation of RevenueThe following tables disaggregate CRA’s revenue by type of contract and geographic location (in thousands):Fiscal Quarter EndedFiscal Year-to-DatePeriod EndedType of ContractSeptember 27,2025September 28,2024September 27,2025September 28,2024Consulting services revenues:Fixed-price$31,590 $30,670 $91,332 $90,043 Time-and-materials154,301 137,078 463,288 420,936 Total$185,891 $167,748 $554,620 $510,979 Revenues have been attributed to locations based on the location of the legal entity generating the revenues.Fiscal Quarter EndedFiscal Year-to-DatePeriod EndedGeographic BreakdownSeptember 27,2025September 28,2024September 27,2025September 28,2024Consulting services revenues:United States$146,116 $136,223 $447,575 $417,029 United Kingdom28,345 20,821 73,932 64,136 Other11,430 10,704 33,113 29,814 Total$185,891 $167,748 $554,620 $510,979 Reserves for Variable Consideration and Credit RiskRevenues from CRA's consulting services are recorded at the net transaction price, which includes estimates of variable consideration for which reserves are established. Variable consideration reserves are based on specific price concessions and those expected to be extended to CRA customers estimated by CRA's historical realization rates. Reserves for variable consideration are recorded as a component of the allowances for accounts receivable and unbilled services on the condensed consolidated balance sheets. Adjustments to the reserves for variable consideration are included