Company: STGW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000876883-25-000017
Chunk: 143

Company: Stagwell Inc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 143
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 driven by a decrease in Operating Income, as discussed above.

Communications 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$87,628 $93,746 $(6,118)(6.5)%Operating ExpensesCost of services58,456 58,504 (48)(0.1)%Office and general expenses19,449 16,075 3,374 21.0 %Depreciation and amortization5,175 2,894 2,281 78.8 %$83,080 $77,473 $5,607 7.2 %Operating Income$4,548 $16,273 $(11,725)(72.1)%

42

Three Months Ended March 31,20252024Change(dollars in thousands)$%Net Revenue$66,998 $67,488 $(490)(0.7)%Billable costs 20,630 26,258 (5,628)(21.4)%Revenue87,628 93,746 (6,118)(6.5)%Billable costs20,630 26,258 (5,628)(21.4)%Staff costs44,577 39,264 5,313 13.5 %Administrative costs10,174 8,704 1,470 16.9 %Unbillable and other costs, net490 136 354 260.3 %Adjusted EBITDA11,757 19,384 (7,627)(39.3)%Stock-based compensation693 1,049 (356)(33.9)%Depreciation and amortization5,175 2,894 2,281 78.8 %Deferred acquisition consideration1,213 (1,114)2,327 (208.9)%Other items, net128 282 (154)(54.6)%Operating Income$4,548 $16,273 $(11,725)(72.1)%

Revenue

Revenue for the three months ended March 31, 2025 was $87.6 million, compared to $93.7 million for the three months ended March 31, 2024