Company: STGW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000876883-25-000034
Chunk: 37

Company: Stagwell Inc
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 37
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 from acquired entities.

The decrease in Office and general expenses of $10.2 million was primarily attributable to a decrease in Deferred acquisition consideration.

63

Deferred acquisition consideration decreased by $14.0 million, primarily attributable to a decrease in the fair value of a certain Brand, partially offset by an increase in the fair value of certain Brands.

Depreciation and amortization increased by $5.8 million, primarily attributable to the inclusion of costs from acquired entities.

Adjusted EBITDA decreased by $30.6 million, primarily due to a decrease in Operating Income, as discussed above.

The Marketing Cloud

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

Nine Months Ended September 30,20252024Change(dollars in thousands)$%Revenue$78,785 $25,823 $52,962 205.1 %Operating ExpensesCost of services40,539 13,811 26,728 193.5 %Office and general expenses35,939 23,225 12,714 54.7 %Depreciation and amortization17,436 9,309 8,127 87.3 %Impairment and other losses244 — 244 100.0 %$94,158 $46,345 $47,813 103.2 %Operating Loss$(15,373)$(20,522)$5,149 (25.1)%

Nine Months Ended September 30,20252024Change(dollars in thousands)$%Net Revenue$78,769 $25,823 $52,946 205.0 %Billable costs 16 — 16 100.0 %Revenue78,785 25,823 52,962 205.1 %Billable costs16 — 16 100.0 %Staff costs53,683 21,024 32,659 155.3 %Administrative costs13,531 9,659 3,872 40.1 %Unbillable and other costs, net17,178 5,547 11,631 209.7 %Adjusted EBITDA(5,623)(10,407)4,784 (46.0)%Stock-based compensation541 648 (107)(16.5)%Depreciation and