Company: CRAI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001053706-25-000020
Chunk: 54

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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Weighted average shares outstanding — diluted6,753 6,911 6,807 6,961 Net income per share:Basic$1.81 $0.96 $4.47 $2.93 Diluted$1.79 $0.94 $4.42 $2.90 

For the fiscal quarter and fiscal year-to-date period ended June 28, 2025, the anti-dilutive share-based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding amounted to 5,229 and 1,283 shares, respectively. There were no anti-dilutive share-based awards for the fiscal quarter and fiscal year-to-date period ended June 29, 2024. 

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

8. Fair Value of Financial Instruments

As of June 28, 2025 and December 28, 2024, CRA did not have any financial instruments measured at fair value on a recurring basis. CRA had no contingent consideration obligations during the fiscal quarter and fiscal year-to-date period ended June 28, 2025. The contingent consideration liability pertained to estimated future contingent consideration payments related to the acquisition of bioStrategies Group, Inc. during fiscal 2022. 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 bank. The Credit Agreement provides CRA with a $250.0 million revolving credit facility, which may be decreased at CRA's option to $200.0 million during the period from July 16 in a year through January 15 in the next year. Additionally, for the period from January 16 to July 15 of each calendar year, CRA may elect to not increase the revolving credit facility to $250