Company: STGW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000876883-25-000017
Chunk: 136

Company: Stagwell Inc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 136
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553 137,605 (50,052)(36.4)%Revenue651,740670,059(18,319)(2.7)%Billable costs87,553 137,605 (50,052)(36.4)%Staff costs368,262 342,157 26,105 7.6 %Administrative costs75,109 67,163 7,946 11.8 %Unbillable and other costs, net40,234 32,818 7,416 22.6 %Adjusted EBITDA80,582 90,316 (9,734)(10.8)%Stock-based compensation11,543 16,116 (4,573)(28.4)%Depreciation and amortization42,006 34,836 7,170 20.6 %Deferred acquisition consideration6,657 154 6,503 NMImpairment and other losses— 1,500 (1,500)(100.0)%Other items, net2,091 11,856 (9,765)(82.4)%Operating Income (1)$18,285 $25,854 $(7,569)(29.3)%(1) See the Results of Operations section above for a reconciliation of Operating Income to Net income (loss) attributable to Stagwell Inc. common shareholders.

Revenue

Revenue for the three months ended March 31, 2025 was $651.7 million, compared to $670.1 million for the three months ended March 31, 2024, a decrease of $18.3 million.

36

Net Revenue

Net revenue for the three months ended March 31, 2025 was $564.2 million, compared to $532.5 million for the three months ended March 31, 2024, an increase of $31.7 million or 6.0%, primarily driven by the acquisitions of What’s Next Partners (“WNP”), PROS Agency (“PROS”), Consulum (Cayman) Limited (“Consulum”), and UNICEPTA Holding GmbH (“Unicepta”).

The geographic mix in Net revenue for the three months ended March 31, 2025 and 2024 was as follows:

Three Months Ended March 31, 20252024(dollars in thousands)United States$440,565 $434,502 United Kingdom36,304 37,153