Company: STGW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000876883-25-000034
Chunk: 186

Company: Stagwell Inc
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 186
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 thousands)$%Revenue$297,195 $267,675 $29,520 11.0 %Operating ExpensesCost of services191,902 179,668 12,234 6.8 %Office and general expenses54,786 53,447 1,339 2.5 %Depreciation and amortization13,012 13,572 (560)(4.1)%$259,700 $246,687 $13,013 5.3 %Operating Income$37,495 $20,988 $16,507 78.6 %

Three Months Ended September 30,20252024Change(dollars in thousands)$%Net Revenue$246,094 $225,411 $20,683 9.2 %Billable costs 51,101 42,264 8,837 20.9 %Revenue297,195 267,675 29,520 11.0 %Billable costs51,101 42,264 8,837 20.9 %Staff costs144,354 139,694 4,660 3.3 %Administrative costs27,919 26,825 1,094 4.1 %Unbillable and other costs, net17,227 15,435 1,792 11.6 %Adjusted EBITDA56,594 43,457 13,137 30.2 %Stock-based compensation4,346 6,001 (1,655)(27.6)%Depreciation and amortization13,012 13,572 (560)(4.1)%Deferred acquisition consideration(500)(151)(349)231.1 %Other items, net2,241 3,047 (806)(26.5)%Operating Income$37,495 $20,988 $16,507 78.6 %`

Revenue

Revenue for the three months ended September 30, 2025 was $297.2 million, compared to $267.7 million for the three months ended September 30, 2024, an increase of $29.5 million. 

44

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