Company: STGW
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000876883-25-000009
Chunk: 18

Company: Stagwell Inc
Filing Date: 2025-03-11
Form: 10-K
Item: Item 7
Chunk 18
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Revenue515,140 333,707 181,433 54.4 %Billable costs181,345 88,446 92,899 NMStaff costs177,629 159,165 18,464 11.6 %Administrative costs37,057 33,664 3,393 10.1 %Unbillable and other costs, net2,235 613 1,622 NMAdjusted EBITDA116,874 51,819 65,055 NMStock-based compensation3,374 3,334 40 1.2 %Depreciation and amortization14,126 11,016 3,110 28.2 %Deferred acquisition consideration18,770 30 18,740 NMOther items, net3,250 1,535 1,715 NMOperating Income$77,354 $35,904 $41,450 NM

Revenue

Revenue for the year ended December 31, 2024 was $515.1 million, compared to $333.7 million for the year ended December 31, 2023, an increase of $181.4 million. 

42

Net Revenue

The components of the fluctuations in net revenue for the year ended December 31, 2024, compared to the year ended December 31, 2023, were as follows: 

Net Revenue - Components of ChangeChangeYear Ended December 31, 2023Foreign CurrencyNet Acquisitions (Divestitures)OrganicTotal ChangeYear Ended December 31, 2024OrganicTotal(dollars in thousands)Communications Network$245,261$(28)$22,177$66,385$88,534$333,79527.1%36.1%Component % change—%9.0%27.1%36.1%

The increase in organic net revenue was primarily attributable to new clients and increased spending in the retail and public affairs sectors. The public affairs sector gained new clients and increased spending as a result of the current political campaign year. The increase in net acquisitions (divestitures) was primarily driven by the acquisitions of PROS, Sidekick, and Consulum.

Operating Income

Operating Income for the year ended December 31, 2024, was $77.4 million, compared to $35.9 million for the year ended December 31, 2023, representing an increase of $41.