Company: CRAI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001053706-25-000029
Chunk: 51

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 51
---
 contract, a contract liability is recorded. Contract liabilities are recognized as revenue after performance obligations have been satisfied and all revenue recognition criteria have been met. Contract liabilities are included in deferred revenue and other liabilities in the condensed consolidated balance sheets. The following table presents the closing balances of CRA's contract liabilities (in thousands):September 27,2025December 28,2024December 30,2023Contract liabilities$2,371 $7,340 $6,037 

11

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

CRA recognized the following revenue that was included in the contract liabilities balance as of the opening of the respective period or for performance obligations satisfied in previous periods (in thousands):Fiscal Quarter EndedFiscal Year-to-DatePeriod EndedSeptember 27,2025September 28,2024September 27,2025September 28,2024Amounts included in contract liabilities at the beginning of the period$1,673 $1,656 $7,084 $5,686 Performance obligations satisfied in previous periods$4,480 $2,650 $3,025 $3,557 

3. Forgivable Loans

In order to attract and retain highly skilled professionals, CRA may issue forgivable loans to employees and non-employee experts, certain of which may be denominated in local currencies. A portion of these loans is collateralized. The forgivable loans have terms that are generally between two and eight years with interest rates currently between 0.43% and 5.12%. The principal amount of forgivable loans and accrued interest is forgiven by CRA over the term of the loans, so long as the employee or non-employee expert continues employment or affiliation with CRA and complies with certain contractual requirements. During the fiscal year-to-date period ended September 27, 2025 and fiscal year 2024 there were no balances due under these loans for which the full principal and interest were not forgiven or not collected upon termination of employment or affiliation with CRA. The forgiveness of the principal amount of the loans is recorded as compensation over the service period, which is consistent with the term of the loans. The following table presents forgivable loan activity for the respective periods (in thousands):September 27,2025December 28,2024Beginning balance$55,492 $53,941 Advances70,338 45,494