Company: STGW
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000876883-25-000009
Chunk: 7

Company: Stagwell Inc
Filing Date: 2025-03-11
Form: 10-K
Item: Item 7
Chunk 7
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060 Other items, net49,196 45,147 Adjusted EBITDA$410,787 $360,139 (1) Non-operating items includes items within the Statements of Operations, below Operating Income, and above Net income (loss) attributable to Stagwell Inc. common shareholders. 

33

YEAR ENDED DECEMBER 31, 2024 COMPARED TO YEAR ENDED DECEMBER 31, 2023

Consolidated Results of Operations 

The components of operating results for the year ended December 31, 2024, compared to the year ended December 31, 2023, were as follows: 

Year Ended December 31,20242023Change(dollars in thousands)$%Revenue$2,841,216 $2,527,177 $314,039 12.4 %Operating ExpensesCost of services1,842,978 1,621,174 221,804 13.7 %Office and general expenses711,803 661,250 50,553 7.6 %Depreciation and amortization151,652 142,831 8,821 6.2 %Impairment and other losses1,715 11,395 (9,680)(84.9)%$2,708,148 $2,436,650 $271,498 11.1 %Operating Income$133,068 $90,527 $42,541 47.0 %

Year Ended December 31,20242023Change(dollars in thousands)$%Net Revenue$2,296,662 $2,152,454 $144,208 6.7 %Billable costs 544,554 374,723 169,831 45.3 %Revenue2,841,2162,527,177314,039 12.4 %Billable costs544,554 374,723 169,831 45.3 %Staff costs1,449,706 1,389,168 60,538 4.4 %Administrative costs281,707 259,780 21,927 8.4 %Unbillable and other costs, net154,462 143,367 11,095 7.7 %Adjusted EBITDA410,787 360,139 50,648 14.1 %Stock