Company: CRAI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001053706-25-000020
Chunk: 17

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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6,561,563 and 6,768,575 shares issued and outstanding, respectively— 1,663 Retained earnings206,485 225,461 Accumulated other comprehensive loss(9,485)(15,051)Total shareholders’ equity197,000 212,073 Total liabilities and shareholders’ equity$606,777 $571,439 

See accompanying notes to the condensed consolidated financial statements.

5

CRA INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

(in thousands)

Fiscal Year-to-Date Period EndedJune 28,2025June 29,2024OPERATING ACTIVITIES:Net income$30,124 $20,229 Adjustments to reconcile net income to net cash used in operating activities:Depreciation and amortization6,941 5,603 Right-of-use asset amortization7,748 7,462 Deferred income taxes(360)(102)Share-based compensation expense2,352 2,396 Bad debt expense (recovery)563 681 Unrealized foreign currency remeasurement (gains) losses, net465 (271)Changes in operating assets and liabilities:Accounts receivable5,161 1,341 Unbilled services(16,532)(19,817)Prepaid expenses and other current assets, and other assets(671)(3,821)Forgivable loans(26,312)(6,083)Incentive cash awards payable6,001 4,796 Accounts payable, accrued expenses, and other liabilities(80,182)(64,488)Lease liabilities(9,440)(9,199)Net cash used in operating activities(74,142)(61,273)INVESTING ACTIVITIES:Purchases of property and equipment(2,163)(3,046)Consideration paid for acquisition— (1,500)Net cash used in investing activities(2,163)(4,546)FINANCING ACTIVITIES:Borrowings under revolving line of credit132,000 93,000 Repayments under revolving line of credit(12,000)(6,000)Tax withholding payments reimbursed by shares(2,809)(1,977)Cash dividends paid(6,858)(5,976)Repurchase of common stock(43,150)(33,348)Net cash provided by financing activities67,183 45,699