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

Company: Stagwell Inc
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 25
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 $89,540 $12,830 14.3 %(1) See the Results of Operations section above for a reconciliation of Operating Income to Net income (loss) attributable to Stagwell Inc. common shareholders.

Revenue

Revenue for the nine months ended September 30, 2025 was $2,101.6 million, compared to $2,052.5 million for the nine months ended September 30, 2024, an increase of $49.0 million.

53

Net Revenue

The components of the fluctuations in net revenue for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 were as follows: 

Net Revenue - Components of ChangeChangeNine Months Ended September 30, 2024Foreign CurrencyNet Acquisitions (Divestitures)OrganicTotal ChangeNine Months Ended September 30, 2025OrganicTotal(dollars in thousands)Marketing Services$658,175 $1,473 $2,916 $52,303 $56,692 $714,867 7.9 %8.6 %Digital Transformation239,613 (275)8,196 27,444 35,365 274,978 11.5 %14.8 %Media & Commerce439,783 1,651 2,675 (12,254)(7,928)431,855 (2.8)%(1.8)%Communications303,890 162 29,002 (47,948)(18,784)285,106 (15.8)%(6.2)%The Marketing Cloud25,823 455 53,523 (1,032)52,946 78,769 (4.0)%NMEliminations(245)— — (8,492)(8,492)(8,737)NMNM$1,667,039 $3,466 $96,312 $10,021 $109,799 $1,776,838 0.6 %6.6 %Component % change0.2 %5.8 %0.6 %6.6 %

For the nine months ended September 30, 2025, organic net revenue increased by $10.0 million, or 0.6%. The increase was primarily attributable to new wins and increased spending by clients in