Company: STGW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000876883-25-000034
Chunk: 112

Company: Stagwell Inc
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 112
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million, primarily due to an increase in Net revenue partially offset by an increase in expenses, as discussed above.

48

Communications

The components of operating results for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 were as follows: 

Three Months Ended September 30,20252024Change(dollars in thousands)$%Revenue$144,947 $184,665 $(39,718)(21.5)%Operating ExpensesCost of services99,977 124,354 (24,377)(19.6)%Office and general expenses19,391 29,804 (10,413)(34.9)%Depreciation and amortization6,363 4,473 1,890 42.3 %Impairment and other losses222 — 222 100.0 %$125,953 $158,631 $(32,678)(20.6)%Operating Income$18,994 $26,034 $(7,040)(27.0)%

Three 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