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v3.21.2

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Revenue: | (Dollars in Thousands)
Integrated Agencies Network | $ | 288,479 |  |  | $ | 55,293 |  |  | $ | 441,229 |  |  | $ | 163,540 |
Media Network | 103,418 |  |  | 60,777 |  |  | 235,539 |  |  | 185,714 |
Communications Network | 67,348 |  |  | 106,909 |  |  | 157,794 |  |  | 210,100 |
All Other | $ | 7,389 |  |  | $ | 5,118 |  |  | $ | 22,874 |  |  | $ | 15,616 |
Total Revenue | $ | 466,634 |  |  | $ | 228,097 |  |  | $ | 857,436 |  |  | $ | 574,970 |
Adjusted EBITDA: |  |  |  |  |  |  |
Integrated Agencies Network | $ | 68,356 |  |  | $ | 11,270 |  |  | $ | 100,960 |  |  | $ | 28,913 |
Media Network | 15,371 |  |  | 8,131 |  |  | 29,789 |  |  | 14,993 |
Communications Network | 10,312 |  |  | 20,231 |  |  | 28,302 |  |  | 39,139 |
All Other | 419 |  |  | (193) |  |  | (1,316) |  |  | (749) |
Corporate | (6,940) |  |  | (2,316) |  |  | (7,656) |  |  | (3,325) |
Total Adjusted EBITDA | $ | 87,518 |  |  | $ | 37,123 |  |  | $ | 150,079 |  |  | $ | 78,971 |
Depreciation and amortization | $ | (24,790) |  |  | $ | (9,974) |  |  | $ | (46,122) |  |  | $ | (29,838) |
Impairment and other losses | (14,926) |  |  | — |  |  | (14,926) |  |  | — |
Stock-based compensation | (53,465) |  |  | — |  |  | (53,465) |  |  | — |
Deferred acquisition consideration | (3,422) |  |  | (149) |  |  | (9,456) |  |  | (1,270) |
Other items, net | (10,549) |  |  | (554) |  |  | (15,298) |  |  | (2,976) |
Total Operating Income (Loss) | $ | (19,634) |  |  | $ | 26,446 |  |  | $ | 10,812 |  |  | $ | 44,887 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
| (Dollars in Thousands)
Other Income (expenses): |  |  |  |  |  |  |
Interest expense, net | $ | (11,912) |  |  | $ | (1,778) |  |  | $ | (15,197) |  |  | $ | (4,665) |
Foreign exchange, net | (893) |  |  | (856) |  |  | (1,955) |  |  | 794 |
Gain on sale of business and other, net | 45,621 |  |  | 263 |  |  | 46,806 |  |  | 948 |
Income before income taxes and equity in earnings of non-consolidated affiliates | 13,182 |  |  | 24,075 |  |  | 40,466 |  |  | 41,964 |
Income tax expense | 5,183 |  |  | 2,618 |  |  | 9,205 |  |  | 3,211 |
Income before equity in earnings of non-consolidated affiliates | 7,999 |  |  | 21,457 |  |  | 31,261 |  |  | 38,753 |
Equity in losses (income) of non-consolidated affiliates | (76) |  |  | (35) |  |  | (75) |  |  | 7 |
Net income | 7,923 |  |  | 21,422 |  |  | 31,186 |  |  | 38,760 |
Net income attributable to noncontrolling and redeemable noncontrolling interests | (9,994) |  |  | (3,614) |  |  | (10,987) |  |  | (4,636) |
Net income (loss) attributable to Stagwell Inc. common shareholders | $ | (2,071) |  |  | $ | 17,808 |  |  | $ | 20,199 |  |  | $ | 34,124 |
Depreciation and amortization: |  |  |  |  |  |  |
Integrated Agencies Network | $ | 14,396 |  |  | $ | 2,292 |  |  | $ | 19,816 |  |  | $ | 6,715 |
Media Network | 6,597 |  |  | 4,903 |  |  | 17,041 |  |  | 14,751 |
Communications Network | 2,110 |  |  | 1,455 |  |  | 5,087 |  |  | 4,210 |
All Other | 493 |  |  | 815 |  |  | 2,013 |  |  | 2,696 |
Corporate | 1,194 |  |  | 509 |  |  | 2,165 |  |  | 1,466 |
Total | $ | 24,790 |  |  | $ | 9,974 |  |  | $ | 46,122 |  |  | $ | 29,838 |
Stock-based compensation: |  |  |  |  |  |  |
Integrated Agencies Network | $ | 32,443 |  |  | $ | — |  |  | $ | 32,443 |  |  | $ | — |
Media Network | 2,608 |  |  | — |  |  | 2,608 |  |  | — |
Communications Network | 15,384 |  |  | — |  |  | 15,384 |  |  | — |
All Other | 16 |  |  | — |  |  | 16 |  |  | — |
Corporate | 3,014 |  |  | — |  |  | 3,014 |  |  | — |
Total | $ | 53,465 |  |  | $ | — |  |  | $ | 53,465 |  |  | $ | — |

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