Company: STGW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000876883-25-000017
Chunk: 36

Company: Stagwell Inc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 36
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 Operations 

The components of operating results for the three months ended March 31, 2025, compared to the three months ended March 31, 2024, were as follows: 

Three Months Ended March 31,20252024Change(dollars in thousands)$%Revenue$651,740 $670,059 $(18,319)(2.7)%Operating ExpensesCost of services412,087 444,526 (32,439)(7.3)%Office and general expenses179,362 163,343 16,019 9.8 %Depreciation and amortization42,006 34,836 7,170 20.6 %Impairment and other losses— 1,500 (1,500)(100.0)%$633,455 $644,205 $(10,750)(1.7)%Operating Income$18,285 $25,854 $(7,569)(29.3)%

Three Months Ended March 31,20252024Change(dollars in thousands)$%Net Revenue$564,187 $532,454 $31,733 6.0 %Billable costs 87,553 137,605 (50,052)(36.4)%Revenue651,740670,059(18,319)(2.7)%Billable costs87,553 137,605 (50,052)(36.4)%Staff costs368,262 342,157 26,105 7.6 %Administrative costs75,109 67,163 7,946 11.8 %Unbillable and other costs, net40,234 32,818 7,416 22.6 %Adjusted EBITDA80,582 90,316 (9,734)(10.8)%Stock-based compensation11,543 16,116 (4,573)(28.4)%Depreciation and amortization42,006 34,836 7,170 20.6 %Deferred acquisition consideration6,657 154 6,503 NMImpairment and other losses— 1,500 (1,500)(100.0)%Other items, net2,091 11,856 (9,765)(82.4)%Operating Income (1)$18,285 $25,854 $(7,569)(29.3)%(1