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v3.22.2

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenue: | (Dollars in Thousands)
Integrated Agencies Network | $ | 378,168 |  |  | $ | 81,639 |  |  | $ | 728,639 |  |  | $ | 150,587 |
Media Network | 194,296 |  |  | 70,560 |  |  | 392,083 |  |  | 134,283 |
Communications Network | 97,770 |  |  | 47,738 |  |  | 189,305 |  |  | 90,446 |
All Other | 2,679 |  |  | 9,623 |  |  | 5,789 |  |  | 15,486 |
Total Revenue | $ | 672,913 |  |  | $ | 209,560 |  |  | $ | 1,315,816 |  |  | $ | 390,802 |
Adjusted EBITDA: |  |  |  |  |  |  |
Integrated Agencies Network | $ | 70,307 |  |  | $ | 19,755 |  |  | $ | 139,696 |  |  | $ | 34,251 |
Media Network | 33,699 |  |  | 9,129 |  |  | 64,947 |  |  | 12,821 |
Communications Network | 17,231 |  |  | 9,962 |  |  | 33,168 |  |  | 17,936 |
All Other | (485) |  |  | 298 |  |  | (609) |  |  | (1,313) |
Corporate | (9,433) |  |  | (426) |  |  | (24,471) |  |  | (1,135) |
Total Adjusted EBITDA | $ | 111,319 |  |  | $ | 38,718 |  |  | $ | 212,731 |  |  | $ | 62,560 |
Depreciation and amortization | $ | (32,231) |  |  | $ | (10,381) |  |  | $ | (63,435) |  |  | $ | (21,331) |
Impairment and other losses | (2,266) |  |  | — |  |  | (2,823) |  |  | — |
Stock-based compensation | (13,131) |  |  | — |  |  | (21,152) |  |  | — |
Deferred acquisition consideration | (13,472) |  |  | (2,098) |  |  | (15,369) |  |  | (6,034) |
Other items, net | (1,887) |  |  | (1,808) |  |  | (6,960) |  |  | (4,749) |
Total Operating Income | $ | 48,332 |  |  | $ | 24,431 |  |  | $ | 102,992 |  |  | $ | 30,446 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (Dollars in Thousands)
Other Income (expenses): |  |  |  |  |  |  |
Interest expense, net | $ | (18,151) |  |  | $ | (1,935) |  |  | $ | (36,880) |  |  | $ | (3,286) |
Foreign exchange, net | 70 |  |  | (385) |  |  | (236) |  |  | (1,062) |
Other, net | (121) |  |  | (101) |  |  | 35 |  |  | 1,184 |
Income before income taxes and equity in earnings of non-consolidated affiliates | 30,130 |  |  | 22,010 |  |  | 65,911 |  |  | 27,282 |
Income tax expense | 5,421 |  |  | 3,348 |  |  | 8,610 |  |  | 4,021 |
Income before equity in earnings of non-consolidated affiliates | 24,709 |  |  | 18,662 |  |  | 57,301 |  |  | 23,261 |
Equity in income (loss) of non-consolidated affiliates | (190) |  |  | (3) |  |  | 840 |  |  | 1 |
Net income | 24,519 |  |  | 18,659 |  |  | 58,141 |  |  | 23,262 |
Net income attributable to noncontrolling and redeemable noncontrolling interests | (14,056) |  |  | (1,314) |  |  | (35,003) |  |  | (1,552) |
Net income attributable to Stagwell Inc. common shareholders | $ | 10,463 |  |  | $ | 17,345 |  |  | $ | 23,138 |  |  | $ | 21,710 |
Depreciation and amortization: |  |  |  |  |  |  |
Integrated Agencies Network | $ | 18,010 |  |  | $ | 2,691 |  |  | $ | 36,890 |  |  | $ | 5,293 |
Media Network | 8,643 |  |  | 5,313 |  |  | 16,839 |  |  | 10,572 |
Communications Network | 2,524 |  |  | 1,395 |  |  | 5,064 |  |  | 2,977 |
All Other | 750 |  |  | 496 |  |  | 1,251 |  |  | 1,518 |
Corporate | 2,304 |  |  | 486 |  |  | 3,391 |  |  | 971 |
Total | $ | 32,231 |  |  | $ | 10,381 |  |  | $ | 63,435 |  |  | $ | 21,331 |
Stock-based compensation |  |  |  |  |  |  |
Integrated Agencies Network | $ | 4,663 |  |  | $ | — |  |  | $ | 9,736 |  |  | $ | — |
Media Network | 4,969 |  |  | — |  |  | 6,229 |  |  | — |
Communications Network | 649 |  |  | — |  |  | 406 |  |  | — |
All Other | — |  |  | — |  |  | 8 |  |  | — |
Corporate | 2,850 |  |  | — |  |  | 4,773 |  |  | — |
Total | $ | 13,131 |  |  | $ | — |  |  | $ | 21,152 |  |  | $ | — |

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