Company: STGW
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000876883-25-000024
Chunk: 60

Company: Stagwell Inc
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 60
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2025.  The consideration has been allocated to the assets acquired and assumed liabilities of ADK based upon fair values. The purchase price accounting is not yet final and the preliminary purchase price allocation is as follows:Amount(dollars in thousands)Cash and cash equivalents$34,200 Accounts receivable, net15,307 Other current assets7,529 Right-of-use lease assets2,100 Fixed assets924 Identifiable intangible assets103 Other assets628 Accounts payable(5,188)Accruals and other liabilities(23,524)Advance billings(3,292)Current portion of lease liabilities - operating leases(1,500)Long-term lease liabilities - operating leases(600)Other liabilities(979)Purchase price consideration$25,708 

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The unaudited pro forma information presents the combined results of operations of the Company and ADK for the periods set forth below giving effect to the acquisition as if it occurred as of January 1, 2024. The pro forma revenue and net loss for the three and six months ended June 30, 2024 would not have been materially different from the actual revenue and net loss reported. The pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time.Three Months Ended June 30,Six Months Ended June 30,2025202420252024(dollars in thousands)Revenue$722,667 $687,264 $1,389,112 $1,373,675 Net Loss$(6,652)$(4,523)$(13,882)$(6,274)Revenue attributable to ADK, included within the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2025, was $6.3 million. Net loss attributable to ADK, included within the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2025, was $0.6 million.  The purchase price accounting is not yet final as the Company has not yet finalized its valuation processes and therefore it may still make adjustments.Acquisition of JetfuelOn May 1, 2025, the Company acquired JetFuel Studio LLC and Powered by JetFuel LLC (collectively, “Jetfuel”), an experiential marketing company, for $22.2 million, of