Company: STGW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000876883-25-000034
Chunk: 128

Company: Stagwell Inc
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 128
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 $(24,220)(35.6)%

62

Nine Months Ended September 30,20252024Change(dollars in thousands)$%Net Revenue$285,106 $303,890 $(18,784)(6.2)%Billable costs 135,109 170,067 (34,958)(20.6)%Revenue420,215 473,957 (53,742)(11.3)%Billable costs135,109 170,067 (34,958)(20.6)%Staff costs172,273 162,715 9,558 5.9 %Administrative costs37,042 33,689 3,353 10.0 %Unbillable and other costs, net6,910 7,958 (1,048)(13.2)%Adjusted EBITDA68,881 99,528 (30,647)(30.8)%Stock-based compensation6,760 5,467 1,293 23.7 %Depreciation and amortization19,349 13,544 5,805 42.9 %Deferred acquisition consideration(4,879)9,097 (13,976)NMImpairment and other losses222 — 222 100.0 %Other items, net3,686 3,457 229 6.6 %Operating Income$43,743 $67,963 $(24,220)(35.6)%

Revenue

Revenue for the nine months ended September 30, 2025 was $420.2 million compared to $474.0 million for the nine months ended September 30, 2024, a decrease of $53.7 million. 

Net Revenue

The components of the fluctuations in net revenue for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 were as follows: 

Net Revenue - Components of ChangeChangeNine Months Ended September 30, 2024Foreign CurrencyNet Acquisitions (Divestitures)OrganicTotal ChangeNine Months Ended September 30, 2025OrganicTotal(dollars in thousands)Communications$303,890 $162 $29,002 $(47,948)$(18,784)$285,106 (15.8)%(6.2)%Component % change0.1 %9.5 %(15.