Company: STGW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000876883-25-000017
Chunk: 46

Company: Stagwell Inc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 46
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 compared to $9.6 million for the three months ended March 31, 2024, an increase of $14.9 million. 

44

Net Revenue

Net revenue for the three months ended March 31, 2025 was $24.5 million, compared to $9.6 million for the three months ended March 31, 2024, an increase of $14.9 million or 154.7%. The increase was primarily attributable to the acquisition of Unicepta.

Operating Loss

Operating Loss for the three months ended March 31, 2025, was $12.0 million, compared to $6.7 million for the three months ended March 31, 2024, representing an increase of $5.4 million. The increase in Operating Loss was primarily driven by an increase in Net revenue, more than offset by higher Cost of services and Office and general expenses, as detailed below. 

Cost of services increased by $6.9 million primarily attributable to inclusion of costs from acquired entities.

The $11.5 million increase in Office and general expenses was primarily attributable to inclusion of costs from acquired entities as well as higher software license fees.

Adjusted EBITDA decreased by $2.3 million, primarily driven by an increase in Office and general expenses, as discussed above. 

Corporate 

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)$%Staff costs$11,898 $10,107 $1,791 17.7 %Administrative costs1,659 2,577 (918)(35.6)%Adjusted EBITDA(13,557)(12,684)(873)6.9 %Stock-based compensation5,108 3,605 1,503 41.7 %Depreciation and amortization3,444 2,626 818 31.2 %Other items, net244 870 (626)(72.0)%Operating Loss$(22,353)$(19,785)$(2,568)13.0 %

Operating Loss

Operating Loss for the three months ended March 31, 2025, was $22.4 million, compared to $19.8 million for the three months ended March 31, 2024, representing an