Company: STGW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000876883-25-000034
Chunk: 20

Company: Stagwell Inc
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 20
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 Months Ended September 30,20252024Change(dollars in thousands)$%Net Revenue$96,492 $112,563 $(16,071)(14.3)%Billable costs 48,455 72,102 (23,647)(32.8)%Revenue144,947 184,665 (39,718)(21.5)%Billable costs48,455 72,102 (23,647)(32.8)%Staff costs56,650 55,518 1,132 2.0 %Administrative costs12,516 11,668 848 7.3 %Unbillable and other costs, net2,245 2,848 (603)(21.2)%Adjusted EBITDA25,081 42,529 (17,448)(41.0)%Stock-based compensation1,594 3,394 (1,800)(53.0)%Depreciation and amortization6,363 4,473 1,890 42.3 %Deferred acquisition consideration(3,716)6,778 (10,494)(154.8)%Impairment and other losses222 — 222 100.0 %Other items, net1,624 1,850 (226)(12.2)%Operating Income$18,994 $26,034 $(7,040)(27.0)%

Revenue

Revenue for the three months ended September 30, 2025 was $144.9 million, compared to $184.7 million for the three months ended September 30, 2024, a decrease of $39.7 million. 

49

Net Revenue

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

Net Revenue - Components of ChangeChangeThree Months Ended September 30, 2024Foreign CurrencyNet Acquisitions (Divestitures)OrganicTotal ChangeThree Months Ended September 30, 2025OrganicTotal(dollars in thousands)Communications$112,563 $214 $7,291 $(23,576)$(16,071)$96,492 (20.9)%(14.3)%Component % change0.2 %6.5 %(20.9)%(14.3)%

The decrease in organic