Company: CRAI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001053706-25-000020
Chunk: 22

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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Table of ContentsCRA INTERNATIONAL, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(Unaudited)

ASU requires disclosure, in the notes to the financial statements, specified information about certain costs and expenses including employee compensation, depreciation, and intangible asset amortization. ASU 2024-03, further clarified in ASU 2025-01, Income Statement—Reporting Comprehensive Income—ExpenseDisaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date is effective for CRA for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. CRA 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 ContractJune 28,2025June 29,2024June 28,2025June 29,2024Consulting services revenues:Fixed-price$29,413 $29,292 $59,742 $59,373 Time-and-materials157,465 142,150 308,987 283,857 Total$186,878 $171,442 $368,729 $343,230 Revenues have been attributed to locations based on the location of the legal entity generating the revenues.Fiscal Quarter EndedFiscal Year-to-DatePeriod EndedGeographic BreakdownJune 28,2025June 29,2024June 28,2025June 29,2024Consulting services revenues:United States$151,745 $138,601 $301,458 $280,805 United Kingdom22,463 22,161 45,587