Company: STGW
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000876883-25-000009
Chunk: 6

Company: Stagwell Inc
Filing Date: 2025-03-11
Form: 10-K
Item: Item 7
Chunk 6
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The Company made changes to its internal management and reporting structure in the first quarter of 2024, resulting in a change to its reportable segments (Networks). Specifically, certain agencies previously within the Brand Performance Network 

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are now in the Integrated Agencies Network. Periods presented prior to the first quarter of 2024 have been recast to reflect the reclassification of certain reporting units (Brands) between operating segments.

The following discussion focuses on the operating performance of the Company for the years ended December 31, 2024, and 2023 and the financial condition of the Company as of December 31, 2024.

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Results of Operations:

Year Ended December 31,20242023(dollars in thousands)Revenue:Integrated Agencies Network$1,535,445 $1,418,711 Brand Performance Network751,884 728,174 Communications Network515,140 333,707 All Other38,747 46,585 Total Revenue$2,841,216 $2,527,177 Operating Income$133,068 $90,527 Other Income (Expenses):Interest expense, net$(92,317)$(90,644)Foreign exchange, net(1,656)(2,960)Gain on sale of business— 94,505 Other, net(1,372)(359)Income before income taxes and equity in earnings of non-consolidated affiliates37,723 91,069 Income tax expense13,182 40,557 Income before equity in earnings of non-consolidated affiliates24,541 50,512 Equity in income (loss) of non-consolidated affiliates503 (8,870)Net income25,044 41,642 Net income attributable to noncontrolling and redeemable noncontrolling interests(22,785)(41,508)Net income attributable to Stagwell Inc. common shareholders$2,259 $134 Reconciliation to Adjusted EBITDA:Net income attributable to Stagwell Inc. common shareholders$2,259 $134 Non-operating items (1)130,809 90,393 Operating income133,068 90,527 Depreciation and amortization151,652 142,831 Impairment and other losses1,715 11,395 Stock-based compensation52,161 57,179 Deferred acquisition consideration22,995 13,