Company: STGW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000876883-25-000034
Chunk: 205

Company: Stagwell Inc
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 205
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 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$479,648 $521,963 $(42,315)(8.1)%Operating ExpensesCost of services289,048 323,772 (34,724)(10.7)%Office and general expenses155,030 144,796 10,234 7.1 %Depreciation and amortization21,626 24,149 (2,523)(10.4)%$465,704 $492,717 $(27,013)(5.5)%Operating Income$13,944 $29,246 $(15,302)(52.3)%

Nine Months Ended September 30,20252024Change(dollars in thousands)$%Net Revenue$431,855 $439,783 $(7,928)(1.8)%Billable costs 47,793 82,180 (34,387)(41.8)%Revenue479,648 521,963 (42,315)(8.1)%Billable costs47,793 82,180 (34,387)(41.8)%Staff costs269,318 265,576 3,742 1.4 %Administrative costs67,097 61,509 5,588 9.1 %Unbillable and other costs, net43,833 46,244 (2,411)(5.2)%Adjusted EBITDA51,607 66,454 (14,847)(22.3)%Stock-based compensation3,065 4,399 (1,334)(30.3)%Depreciation and amortization21,626 24,149 (2,523)(10.4)%Deferred acquisition consideration2,942 (6,453)9,395 NMOther items, net10,030 15,113 (5,083)(33.6)%Operating Income$13,944 $29,246 $(15,302)(52.3)%

Revenue

Revenue for the nine months ended September 30, 2025 was $479.6 million, compared to $522.0 million for the nine months ended September 30, 2024, a decrease of