Company: CRAI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001053706-25-000014
Chunk: 23

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 undistributed earnings with common shareholders. Net earnings allocable to these participating securities were not material for the fiscal quarters ended March 29, 2025 and March 30, 2024.The following table presents the calculation of basic and diluted net income per share (in thousands, except per share data):Fiscal Quarter EndedMarch 29,2025March 30,2024Numerator:Net income — basic$18,002 $13,691 Less: net income attributable to participating shares47 46 Net income — diluted$17,955 $13,645 Denominator:Weighted average shares outstanding — basic6,775 6,926 Effect of dilutive stock options and restricted stock units87 85 Weighted average shares outstanding — diluted6,862 7,011 Net income per share:Basic$2.65 $1.97 Diluted$2.62 $1.95 Anti-dilutive share-based awards are excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding. There were no anti-dilutive share-based awards for the fiscal quarters ended March 29, 2025 and March 30, 2024.

8. Fair Value of Financial Instruments

As of March 29, 2025 and December 28, 2024, CRA did not have any financial instruments measured at fair value on a recurring basis. The contingent consideration liability pertained to estimated future contingent consideration payments related to the acquisition of bioStrategies Group, Inc. during fiscal 2022. CRA had no contingent consideration obligation during the fiscal 

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Table of ContentsCRA INTERNATIONAL, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(Unaudited)

quarter ended March 29, 2025. The following table summarizes the changes in the contingent consideration liability for the fiscal year ended December 28, 2024 (in thousands):Fiscal Year EndedDecember 28, 2024Beginning balance$190 Remeasurement of acquisition-related contingent consideration(190)Accretion— Ending balance$— 

9. Credit Agreement

CRA is party to a Credit Agreement, dated as of August 19, 2022 (as amended, the "Credit Agreement") with Bank of America, N.A., as swingline lender, a letter of credit issuing bank and administrative agent, and with Citizens Bank, N.A., as a letter of credit issuing