Company: STGW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000876883-25-000017
Chunk: 99

Company: Stagwell Inc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 99
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 Operating Income$18,285 $25,854 Other Income (Expenses):Interest expense, net$(23,356)$(20,965)Foreign exchange, net1,220 (2,258)Other, net249 (1,267)Income (loss) before income taxes and equity in earnings of non-consolidated affiliates(3,602)1,364 Income tax expense1,722 2,585 Loss before equity in earnings of non-consolidated affiliates(5,324)(1,221)Equity in income (loss) of non-consolidated affiliates(1)508 Net loss(5,325)(713)Net (income) loss attributable to noncontrolling and redeemable noncontrolling interests2,408 (569)Net loss attributable to Stagwell Inc. common shareholders$(2,917)$(1,282)Reconciliation to Adjusted EBITDA:Net loss attributable to Stagwell Inc. common shareholders$(2,917)$(1,282)Non-operating items (1)21,202 27,136 Operating income18,285 25,854 Depreciation and amortization42,006 34,836 Impairment and other losses— 1,500 Stock-based compensation11,543 16,116 Deferred acquisition consideration6,657 154 Other items, net2,091 11,856 Adjusted EBITDA$80,582 $90,316 (1) Non-operating items includes items within the Statements of Operations, below Operating Income, and above Net income (loss) attributable to Stagwell Inc. common shareholders. 

35

THREE MONTHS ENDED MARCH 31, 2025 COMPARED TO THREE MONTHS ENDED MARCH 31, 2024

Consolidated Results of Operations 

The components of operating results for the three months ended March 31, 2025, compared to the three months ended March 31, 2024, were as follows: 

Three Months Ended March 31,20252024Change(dollars in thousands)$%Revenue$651,740 $670,059 $(18,319)(2.7)%Operating ExpensesCost of services412,087 444,526 (32,439)(7.3)%Office and general expenses179,362 163,343 16,019 9.8 %Depreciation and amort