Company: STGW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000876883-25-000017
Chunk: 42

Company: Stagwell Inc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 42
---
 revenue, partially offset by an increase in expenses, as discussed above.

Brand Performance Network

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$162,218 $213,962 $(51,744)(24.2)%Operating ExpensesCost of services102,650 139,787 (37,137)(26.6)%Office and general expenses51,765 52,966 (1,201)(2.3)%Depreciation and amortization7,722 7,514 208 2.8 %$162,137 $200,267 $(38,130)(19.0)%Operating Income$81 $13,695 $(13,614)(99.4)%

Three Months Ended March 31,20252024Change(dollars in thousands)$%Net Revenue$146,858 $162,562 $(15,704)(9.7)%Billable costs 15,360 51,400 (36,040)(70.1)%Revenue162,218 213,962 (51,744)(24.2)%Billable costs15,360 51,400 (36,040)(70.1)%Staff costs96,450 98,431 (1,981)(2.0)%Administrative costs23,407 22,071 1,336 6.1 %Unbillable and other costs, net15,458 14,566 892 6.1 %Adjusted EBITDA11,543 27,494 (15,951)(58.0)%Stock-based compensation1,368 2,043 (675)(33.0)%Depreciation and amortization7,722 7,514 208 2.8 %Deferred acquisition consideration(1,282)(777)(505)65.0 %Other items, net3,654 5,019 (1,365)(27.2)%Operating Income$81 $13,695 $(13,614)(99.4)%

Revenue

Revenue for the three months ended March 31, 2025, was $162.2 million, compared to $214.0 million for the three months ended March 31,