v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Three Months Ended September 30, 2026
Marketing ServicesDigital TransformationMedia & CommerceCommunicationsThe Marketing CloudTotal
(dollars in thousands)
Revenue (1)
$255,445 $127,176 $176,857 $210,913 $55,825 $826,216 
Billable costs37,764 8,517 18,113 87,229 142 151,765 
Staff costs126,795 73,620 95,403 59,939 16,572 372,329 
Administrative costs24,677 6,830 26,650 13,432 5,291 76,880 
Unbillable and other costs, net (2)
24,254 71 16,917 2,455 9,165 52,862 
Adjusted EBITDA41,955 38,138 19,774 47,858 24,655 172,380 
Corporate, eliminations and other
(27,544)
Total Consolidated Adjusted EBITDA144,836 
Stock-based compensation28,920 
Depreciation and amortization48,300 
Deferred acquisition consideration7,675 
Impairment and other losses1,028 
Other items, net10,854 
Operating income48,059 
Other income (expenses):
Interest expense, net(23,993)
Foreign exchange, net2,244 
Other, net2,526 
(19,223)
Income before income taxes and equity in earnings of non-consolidated affiliates28,836 
Income tax expense10,882 
Income before equity in earnings of non-consolidated affiliates17,954 
Equity in income of non-consolidated affiliates442 
Net income18,396 
Net income attributable to noncontrolling and redeemable noncontrolling interests(277)
Net income attributable to Stagwell Inc. common shareholders$18,119 
(1) Total consolidated revenue of $816.0 million reflects revenue generated by the Other business components and intercompany elimination of $10.2 million.
(2) For each reportable segment, Unbillable and other costs, net include costs to fulfill customer contract requirements such as research and subscription related costs, audience measurement, data and analytics, panels and survey costs, amortization of capitalized software marketed externally, and also includes travel related expenses.
Nine Months Ended September 30, 2026
Marketing ServicesDigital TransformationMedia & CommerceCommunicationsThe Marketing CloudTotal
(dollars in thousands)
Revenue (1)
$786,650 $349,756 $534,561 $552,767 $110,963 $2,334,697 
Billable costs113,980 23,722 68,801 219,894 160 426,557 
Staff costs390,338 208,901 291,338 178,086 51,460 1,120,123 
Administrative costs74,036 20,966 74,902 40,634 18,003 228,541 
Unbillable and other costs, net (2)
75,327 381 45,820 6,291 23,962 151,781 
Adjusted EBITDA132,969 95,786 53,700 107,862 17,378 407,695 
Corporate, eliminations and other
(64,487)
Total Consolidated Adjusted EBITDA343,208 
Stock-based compensation61,735 
Depreciation and amortization136,395 
Deferred acquisition consideration26,766 
Impairment and other losses1,219 
Other items, net47,846 
Operating income69,247 
Other income (expenses):
Interest expense, net(69,587)
Foreign exchange, net(172)
Other, net3,394 
(66,365)
Income before income taxes and equity in earnings of non-consolidated affiliates2,882 
Income tax expense7,646 
Loss before equity in earnings of non-consolidated affiliates(4,764)
Equity in income of non-consolidated affiliates512 
Net loss(4,252)
Net loss attributable to noncontrolling and redeemable noncontrolling interests1,282 
Net loss attributable to Stagwell Inc. common shareholders$(2,970)
(1) Total consolidated revenue of $2,306.5 million reflects revenue generated by the Other business components and intercompany elimination of $28.2 million.
(2) For each reportable segment, Unbillable and other costs, net include costs to fulfill customer contract requirements such as research and subscription related costs, audience measurement, data and analytics, panels and survey costs, amortization of capitalized software marketed externally, and also includes travel related expenses.
Three Months Ended September 30, 2025
Marketing ServicesDigital TransformationMedia & CommerceCommunicationsThe Marketing CloudTotal
(dollars in thousands)
Revenue (1)
$291,089 $104,445 $183,112 $145,086 $26,576 $750,308 
Billable costs51,128 8,334 20,570 48,455 5 128,492 
Staff costs138,310 62,845 98,212 56,650 17,969 373,986 
Administrative costs26,835 6,981 24,225 12,516 3,068 73,625 
Unbillable and other costs, net (2)
17,187 401 15,554 2,344 6,898 42,384 
Adjusted EBITDA57,629 25,884 24,551 25,121 (1,364)131,821 
Corporate, eliminations and other
(15,834)
Total Consolidated Adjusted EBITDA115,987 
Stock-based compensation12,646 
Depreciation and amortization44,260 
Deferred acquisition consideration(13,348)
Impairment and other losses466 
Other items, net11,050 
Operating income60,913 
Other expenses:
Interest expense, net(25,196)
Foreign exchange, net(366)
Other, net(2,032)
(27,594)
Income before income taxes and equity in earnings of non-consolidated affiliates33,319 
Income tax expense9,555 
Income before equity in earnings of non-consolidated affiliates23,764 
Equity in loss of non-consolidated affiliates(1)
Net income23,763 
Net loss attributable to noncontrolling and redeemable noncontrolling interests856 
Net income attributable to Stagwell Inc. common shareholders$24,619 
(1) Total consolidated revenue of $743.0 million reflects an intercompany elimination of $7.3 million.
(2) For each reportable segment, Unbillable and other costs, net include costs to fulfill customer contract requirements such as research and subscription related costs, audience measurement, data and analytics, panels and survey costs, amortization of capitalized software marketed externally, and also includes travel related expenses.
Nine Months Ended September 30, 2025
Marketing ServicesDigital TransformationMedia & CommerceCommunicationsThe Marketing CloudTotal
(dollars in thousands)
Revenue (1)
$817,294 $294,301 $509,416 $420,556 $77,380 $2,118,947 
Billable costs124,534 17,210 49,505 135,109 16 326,374 
Staff costs401,036 186,972 291,228 172,273 52,001 1,103,510 
Administrative costs83,338 19,599 70,963 37,042 11,582 222,524 
Unbillable and other costs, net (2)
61,801 1,178 44,486 7,103 18,399 132,967 
Adjusted EBITDA146,585 69,342 53,234 69,029 (4,618)333,572 
Corporate, eliminations and other
(41,001)
Total Consolidated Adjusted EBITDA292,571 
Stock-based compensation44,143 
Depreciation and amortization127,635 
Deferred acquisition consideration(9,911)
Impairment and other losses466 
Other items, net27,868 
Operating income102,370 
Other expenses:
Interest expense, net(72,007)
Foreign exchange, net(484)
Other, net(2,143)
(74,634)
Income before income taxes and equity in earnings of non-consolidated affiliates27,736 
Income tax expense13,950 
Income before equity in earnings of non-consolidated affiliates13,786 
Equity in income of non-consolidated affiliates18 
Net income13,804 
Net loss attributable to noncontrolling and redeemable noncontrolling interests2,637 
Net income attributable to Stagwell Inc. common shareholders$16,441 
(1) Total consolidated revenue of $2,101.6 million reflects an intercompany elimination of $17.4 million.
(2) For each reportable segment, Unbillable and other costs, net include costs to fulfill customer contract requirements such as research and subscription related costs, audience measurement, data and analytics, panels and survey costs, amortization of capitalized software marketed externally, and also includes travel related expenses.