Company: STGW
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000876883-25-000024
Chunk: 187

Company: Stagwell Inc
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 187
---
 the second quarter of 2024 associated with stock-based performance awards for which the performance targets were not met.

SIX MONTHS ENDED JUNE 30, 2025 COMPARED TO SIX MONTHS ENDED JUNE 30, 2024

Consolidated Results of Operations 

The components of operating results for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, were as follows: 

Six Months Ended June 30,20252024Change(dollars in thousands)$%Revenue$1,358,558 $1,341,227 $17,331 1.3 %Operating ExpensesCost of services871,303 883,438 (12,135)(1.4)%Office and general expenses362,423 331,476 30,947 9.3 %Depreciation and amortization83,375 76,837 6,538 8.5 %Impairment and other losses— 1,715 (1,715)(100.0)%$1,317,101 $1,293,466 $23,635 1.8 %Operating Income$41,457 $47,761 $(6,304)(13.2)%

53

Six Months Ended June 30,20252024Change(dollars in thousands)$%Net Revenue$1,162,316 $1,086,846 $75,470 6.9 %Billable costs 196,242 254,381 (58,139)(22.9)%Revenue1,358,5581,341,22717,331 1.3 %Billable costs196,242 254,381 (58,139)(22.9)%Staff costs749,532 697,506 52,026 7.5 %Administrative costs150,983 136,697 14,286 10.5 %Unbillable and other costs, net88,364 76,224 12,140 15.9 %Adjusted EBITDA173,437 176,419 (2,982)(1.7)%Stock-based compensation31,497 21,991 9,506 43.2 %Depreciation and amortization83,375 76,837 6,538 8.5 %Deferred acquisition consideration3