Company: STGW
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000876883-25-000024
Chunk: 138

Company: Stagwell Inc
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 138
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 in thousands)Cash and cash equivalents$2,723 Accounts receivable, net9,354 Other current assets575 Right-of-use lease assets5,911 Fixed assets429 Identifiable intangible assets36,833 Other assets140 Accounts payable(2,808)Accruals and other liabilities(6,998)Advance billings(951)Current portion of lease liabilities - operating leases(1,071)Long-term lease liabilities - operating leases(5,400)Deferred tax liabilities, net(10,500)Other liabilities(406)Net assets assumed27,831 Goodwill34,583 Purchase price consideration$62,414 The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Unicepta. Goodwill of $34.6 million was assigned to the Stagwell Marketing Cloud Group reported within All Other. The goodwill is not deductible for income tax purposes. Intangible assets consist of trade names, customer relationships, and developed technology. We amortize purchased intangible assets on a straight-line basis over their respective useful lives. The weighted average life of the total acquired identifiable intangible assets is 10 years. The following table presents the details of identifiable intangible assets acquired:Estimated Fair ValueEstimated Useful Life in Years(dollars in thousands)Customer relationships$22,083 12Trade names5,417 10Developed Technology9,333 5Total acquired intangible assets$36,833 The unaudited pro forma information presents the combined results of operations of the Company and Unicepta 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, 2024Six Months Ended June 30, 2024(dollars in thousands)Revenue$684,630 $1,367,875 Net loss$(5,275)$(8,855)

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Revenue attributable to Unicepta, included within the Unaudited Consolidated Statements of Operations for the three and six months ended June