Stagwell (STGW) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 25, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-13718
Entity Registrant Name	Stagwell Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-1390679
Entity Address, Address Line One	One World Trade Center, Floor 65
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10007
City Area Code	646
Local Phone Number	429-1800
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	STGW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000876883
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		111,731,103
Common Class C
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		151,648,741

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Revenues	$ 671,168	$ 632,265	$ 1,341,227	$ 1,254,709
Operating expenses:
Cost of services	438,912	402,431	883,438	816,329
Office and general expenses	168,133	162,522	331,476	321,358
Depreciation and amortization	42,001	35,488	76,837	68,965
Impairment and other losses	215	10,562	1,715	10,562
Costs and Expenses, Total	649,261	611,003	1,293,466	1,217,214
Operating Income (Loss), Total	21,907	21,262	47,761	37,495
Other income (expense):
Interest expense, net	(23,533)	(23,680)	(44,498)	(41,869)
Foreign exchange, net	(1,355)	(1,478)	(3,613)	(2,148)
Other, net	193	(416)	(1,074)	(196)
Nonoperating Income (Expense), Total	(24,695)	(25,574)	(49,185)	(44,213)
Loss before income taxes and equity in earnings of non-consolidated affiliates	(2,788)	(4,312)	(1,424)	(6,718)
Income tax expense	1,165	437	3,750	673
Loss before equity in earnings of non-consolidated affiliates	(3,953)	(4,749)	(5,174)	(7,391)
Equity in income (loss) of non-consolidated affiliates	(1)	(216)	507	(443)
Net loss	(3,954)	(4,965)	(4,667)	(7,834)
Net loss attributable to noncontrolling and redeemable noncontrolling interests	989	1,771	420	6,029
Net loss attributable to Stagwell Inc. common shareholders	$ (2,965)	$ (3,194)	$ (4,247)	$ (1,805)
Earnings Per Share [Abstract]
Earnings per share, basic	$ (0.03)	$ (0.03)	$ (0.04)	$ (0.01)
Earnings per share, diluted	$ (0.03)	$ (0.03)	$ (0.04)	$ (0.01)
Weighted Average Number Of Shares Outstanding For Basic and Diluted [Abstract]
Weighted Average Number of Shares Outstanding, Basic	113,484	115,400	113,059	120,272
Weighted Average Number of Shares Outstanding, Diluted	113,484	115,400	113,059	120,272

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Comprehensive income (loss)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (3,954)	$ (4,965)	$ (4,667)	$ (7,834)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income (loss) - Foreign currency translation adjustment	(5,479)	2,945	(12,625)	7,392
Comprehensive loss for the period	(9,433)	(2,020)	(17,292)	(442)
Comprehensive (income) loss attributable to the noncontrolling and redeemable noncontrolling interests	4,469	(1,158)	8,182	878
Comprehensive income (loss) attributable to Stagwell Inc. common shareholders	$ (4,964)	$ (3,178)	$ (9,110)	$ 436

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 136,078	$ 119,737
Accounts receivable, net	732,236	697,178
Expenditures billable to clients	126,144	114,097
Other current assets	105,951	94,054
Total Current Assets	1,100,409	1,025,066
Fixed assets, net	78,829	77,825
Operating Lease, Right-of-Use Asset	234,340	254,278
Goodwill	1,504,650	1,498,815
Other intangible assets, net	778,181	818,220
Other assets	96,271	92,843
Total Assets	3,792,680	3,767,047
Current Liabilities
Accounts payable	388,819	414,980
Accrued media	218,625	291,777
Accruals and other liabilities	205,644	233,046
Advance billings	320,547	301,674
Current portion of lease liabilities - operating leases	63,908	65,899
Current portion of deferred acquisition consideration	24,045	66,953
Total Current Liabilities	1,221,588	1,374,329
Long-term debt	1,422,226	1,145,828
Long-term portion of deferred acquisition consideration	46,996	34,105
Long-term lease liabilities - operating leases	262,760	281,307
Deferred tax liabilities, net	41,720	40,509
Other liabilities	56,359	54,905
Total Liabilities	3,051,649	2,930,983
Redeemable Noncontrolling Interests	11,107	10,792
Commitments and Contingencies
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Paid-in capital	292,616	348,494
Retained earnings	16,771	21,148
Accumulated other comprehensive loss	(17,931)	(13,067)
Stagwell Inc. Shareholders’ Equity	291,570	356,695
Noncontrolling interests	438,354	468,577
Total Shareholders’ Equity	729,924	825,272
Liabilities and Equity, Total	3,792,680	3,767,047
Common Class A and Common Class B
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Common shares	112	118
Common Class C
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Common shares	$ 2	$ 2

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (4,667)	$ (7,834)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Stock-based compensation	21,991	22,550
Depreciation and amortization	76,837	68,965
Operating Lease, Right-of-Use Asset, Amortization Expense	39,534	38,517
Impairment and other losses	1,715	10,562
Deferred income taxes	3,797	(639)
Adjustment To Deferred Acquisition Consideration	7,390	4,480
Other, net	3,850	(3,284)
Changes in working capital:
Accounts receivable	(30,157)	4,255
Expenditures billable to clients	(6,516)	(13,180)
Other assets	(5,776)	4,117
Accounts payable	(28,576)	(20,217)
Accrued expenses and other liabilities	(114,353)	(172,159)
Advance billings	12,092	(32,795)
Increase (Decrease) in Operating Lease Liability	(41,924)	(44,272)
Deferred acquisition related payments	(2,855)	(3,212)
Net Cash Provided by (Used in) Operating Activities, Total	(67,618)	(144,146)
Cash flows from investing activities:
Capital expenditures	(13,990)	(7,953)
Acquisitions, net of cash acquired	(20,350)	(4,965)
Capitalized software	(17,076)	(10,356)
Other	(767)	(6,844)
Net Cash Provided by (Used in) Investing Activities, Total	(52,183)	(30,118)
Cash flows from financing activities:
Repayment of borrowings under revolving credit facility	(761,000)	(800,500)
Proceeds from borrowings under revolving credit facility	1,036,000	1,102,500
Shares repurchased and cancelled	(86,934)	(199,363)
Distributions to noncontrolling interests	(22,483)	(15,408)
Payment of deferred consideration	(23,963)	(28,558)
Payments to Acquire Additional Interest in Subsidiaries	(3,316)
Debt issuance costs		(150)
Net Cash Provided by (Used in) Financing Activities, Total	138,304	58,521
Effect of exchange rate changes on cash and cash equivalents	(2,162)	438
Net increase (decrease) in cash and cash equivalents	16,341	(115,305)
Cash and cash equivalents at beginning of period	119,737	220,589
Cash and cash equivalents at end of period	136,078	105,284
Supplemental Cash Flow Information:
Cash income taxes paid	10,636	23,154
Cash interest paid	42,444	36,475
Non-cash investing and financing activities:
Acquisitions of business	7,193
Noncash or Part Noncash Acquisition, Noncontrolling Interest Acquired	10,167
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued	341
Non-cash payment on deferred acquisition	$ 18,208	$ 20,119

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Common Class A & B	Parent [Member]	Common Shares Common Class A & B	Common Shares Class C	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Balance (in shares) at Dec. 31, 2022				131,724,000	160,909,000
Balance at Dec. 31, 2022	$ 928,814		$ 498,650	$ 132	$ 2	$ 491,899	$ 22,095	$ (15,478)	$ 430,164
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss) Attributable to Parent	(1,805)
Net loss			(1,805)				(1,805)
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(2,515)								(6,029)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(7,834)
Other Comprehensive Income (Loss), Net of Tax	7,392		2,241					2,241	(5,151)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(442)		436				(1,805)	2,241	878
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(11,009)								(11,009)
Stockholders Equity, Increase (Decrease) Form Change In Redemption Value Of Noncontrolling Interest, Value	(2,941)		(2,941)				(2,941)
Restricted Awards Granted or Vested (in shares)		2,977,000
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited				13,000
Stock Issued During Period, Value, Restricted Stock Award, Gross				$ 3		3
Shares acquired and cancelled (in shares)				(30,762,000)
Stock Repurchased and Retired During Period, Value	(200,353)		(200,353)	$ (31)		(200,322)
Stock-based compensation	16,833		16,833			16,833
Change in ownership held by Class C holders			14,382			14,382			(14,382)
Stock Issued During Period, Value, Acquisitions	20,119		20,119	$ 3		20,116
Stock Issued During Period, Shares, Acquisitions				2,853,000
Stock Issued During Period, Value, Conversion of Units				$ (9)		(9)
Conversion of shares (in shares)				(9,260,000)	(9,260,000)
Stockholders' Equity, Other	3,076		(5,250)			(4,612)	(638)		(2,174)
Balance (in shares) at Jun. 30, 2023				116,039,000	151,649,000
Balance at Jun. 30, 2023	753,827		318,994	$ 116	$ 2	309,520	22,593	(13,237)	434,833
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income attributable to noncontrolling interests	(6,029)
Balance (in shares) at Dec. 31, 2022				131,724,000	160,909,000
Balance at Dec. 31, 2022	928,814		498,650	$ 132	$ 2	491,899	22,095	(15,478)	430,164
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in redemption value	(442)
Balance (in shares) at Dec. 31, 2023				118,469,000	151,649,000
Balance at Dec. 31, 2023	825,272		356,695	$ 118	$ 2	348,494	21,148	(13,067)	468,577
Balance (in shares) at Mar. 31, 2023				129,796,000	160,909,000
Balance at Mar. 31, 2023	905,283		480,690	$ 130	$ 2	469,891	23,920	(13,253)	424,593
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss) Attributable to Parent	(3,194)
Net loss			(3,194)				(3,194)
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(800)								(1,771)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(4,965)
Other Comprehensive Income (Loss), Net of Tax	2,945		16					16	(2,929)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(2,020)		(3,178)				(3,194)	16	(1,158)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(2,984)								(2,984)
Stockholders Equity, Increase (Decrease) Form Change In Redemption Value Of Noncontrolling Interest, Value	(1,865)		(1,865)				(1,865)
Restricted Awards Granted or Vested (in shares)				1,139,000
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited				13,000
Stock Issued During Period, Value, Restricted Stock Award, Gross				$ 1		1
Shares acquired and cancelled (in shares)				(26,996,000)
Stock Repurchased and Retired During Period, Value	(174,223)		(174,223)	$ (27)		(174,196)
Stock-based compensation	9,440		9,440			9,440
Change in ownership held by Class C holders	0		(11,109)			11,109			(11,109)
Stock Issued During Period, Value, Acquisitions	20,119		20,119	$ 3		20,116
Stock Issued During Period, Shares, Acquisitions				2,853,000
Stock Issued During Period, Value, Conversion of Units				$ (9)		(9)
Conversion of shares (in shares)				(9,260,000)	(9,260,000)
Stockholders' Equity, Other	(3,653)		(4,610)			(4,612)	2		957
Balance (in shares) at Jun. 30, 2023				116,039,000	151,649,000
Balance at Jun. 30, 2023	753,827		318,994	$ 116	$ 2	309,520	22,593	(13,237)	434,833
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income attributable to noncontrolling interests	(1,771)
Balance (in shares) at Dec. 31, 2023				118,469,000	151,649,000
Balance at Dec. 31, 2023	825,272		356,695	$ 118	$ 2	348,494	21,148	(13,067)	468,577
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss) Attributable to Parent	(4,247)
Net loss			(4,247)				(4,247)
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	1,986								(420)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(4,667)
Other Comprehensive Income (Loss), Net of Tax	(12,625)		(4,863)					(4,863)	7,762
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(17,292)		(9,110)				(4,247)	(4,863)	8,182
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(21,074)								(21,074)
Reduction of noncontrolling and redeemable noncontrolling interest	(13,295)		(3,069)			(3,069)			(10,226)
Changes in redemption value	(135)
Stockholders Equity, Increase (Decrease) Form Change In Redemption Value Of Noncontrolling Interest, Value	135		135				135
Restricted Awards Granted or Vested (in shares)				3,101,000
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited				84,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 531		531	$ 3		528
Shares acquired and cancelled (in shares)	(11,800,000)			(13,804,000)
Stock Repurchased and Retired During Period, Value	$ (87,275)		(87,275)	$ (14)		(87,261)
Stock-based compensation	19,008		19,008			19,008
Change in ownership held by Class C holders	0		(10,828)			10,828			(10,828)
Stock Issued During Period, Value, Acquisitions	25,404		25,404	$ 4		25,400
Stock Issued During Period, Shares, Acquisitions				4,231,000
Other, Shares				52,000
Stockholders' Equity, Other	(1,220)		349	$ (1)		344	5	(1)	(1,569)
Balance (in shares) at Jun. 30, 2024				111,965,000	151,649,000
Balance at Jun. 30, 2024	729,924		291,570	$ 112	$ 2	292,616	16,771	(17,931)	438,354
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income attributable to noncontrolling interests	(420)
Balance (in shares) at Mar. 31, 2024				114,819,000	151,649,000
Balance at Mar. 31, 2024	797,590		337,700	$ 115	$ 2	333,896	19,618	(15,931)	459,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss) Attributable to Parent	(2,965)
Net loss			(2,965)				(2,965)
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(1,762)								(989)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(3,954)
Other Comprehensive Income (Loss), Net of Tax	(5,479)		(1,999)					(1,999)	3,480
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(9,433)		(4,964)				(2,965)	(1,999)	4,469
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(21,074)								(21,074)
Reduction of noncontrolling and redeemable noncontrolling interest	(4,813)		(4,813)			(4,813)
Stockholders Equity, Increase (Decrease) Form Change In Redemption Value Of Noncontrolling Interest, Value	(115)		(115)				(115)
Restricted Awards Granted or Vested (in shares)				2,950,000
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited				66,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	277		277	$ 3		274
Shares acquired and cancelled (in shares)				(8,976,000)
Stock Repurchased and Retired During Period, Value	(56,689)		(56,689)	$ (9)		(56,680)
Stock-based compensation	5,458		5,458			5,458
Change in ownership held by Class C holders	0		(4,781)			4,781			4,781
Stock Issued During Period, Value, Acquisitions	19,265		19,265	$ 3		19,262
Stock Issued During Period, Shares, Acquisitions				3,238,000
Stockholders' Equity, Other	(772)		2				3	(1)	(774)
Balance (in shares) at Jun. 30, 2024				111,965,000	151,649,000
Balance at Jun. 30, 2024	729,924		$ 291,570	$ 112	$ 2	$ 292,616	$ 16,771	$ (17,931)	$ 438,354
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income attributable to noncontrolling interests	$ (989)

Basis of Presentation and Recen

Basis of Presentation and Recent Developments	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recent Developments	1. Business and Basis of Presentation Stagwell Inc. (the “Company,” “we,” or “Stagwell”), incorporated under the laws of Delaware, conducts its business through its networks and its portfolio of marketing services firms (“Brands”), which provide marketing and business solutions that realize the potential of combining data and creativity. Stagwell’s strategy is to build, grow and acquire market-leading businesses that deliver the modern suite of services that marketers need to thrive in a rapidly evolving business environment. The accompanying Unaudited Consolidated Financial Statements include the accounts of Stagwell and its subsidiaries. Stagwell has prepared the unaudited consolidated interim financial statements included herein in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for reporting interim financial information on Form 10-Q. Accordingly, pursuant to these rules, the footnotes do not include certain information and disclosures. The preparation of financial statements in conformity with GAAP requires us to make judgments, assumptions and estimates about current and future results of operations and cash flows that affect the amounts reported and disclosed. Actual results could differ from these estimates and assumptions. The consolidated reports for interim periods are not necessarily indicative of results for the full year and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”). The accompanying financial statements reflect all adjustments, consisting of normal recurring accruals, which in the opinion of management are necessary for a fair statement, in all material respects, of the information contained therein. Intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to the prior year financial information to conform to the current year presentation. Revision of Previously Issued Unaudited Consolidated Financial Statements In connection with the preparation of the consolidated financial statements during 2023, the Company identified the following errors in the areas of income taxes, noncontrolling interests, and accumulated other comprehensive loss related to its previously filed 2022 annual consolidated financial statements. • In the first quarter of 2023, we identified an error related to foreign currency gains and losses not being allocated from Accumulated other comprehensive loss to noncontrolling interest shareholders. Noncontrolling interests and Accumulated other comprehensive loss was overstated by $23.5 million. There was no impact to Total Shareholders’ Equity as of December 31, 2022. Also, we identified a $2.1 million understatement of income tax expense, and overstatement to income tax payable (Accruals and Other Liabilities) and deferred tax asset (Other Current Assets) of $2.4 million and $4.5 million, respectively, relating to an error in the calculation of valuation allowances. These errors were originally corrected within the first quarter of 2023 as management determined the errors were not material to the quarterly financial statements as of and for the three months ended March 31, 2023. • In the second quarter of 2023, we identified an error related to an understatement of income tax expense and income tax payable (Accruals and Other Liabilities) by $5.3 million due to incorrect applications of tax payments. The Company also identified a misclassification of $12.9 million as a result of improper netting of income tax receivables (Other Current Assets) and payables (Accruals and Other Liabilities). This error resulted in an incremental $7.3 million misclassification of income tax receivables and payables as of March 31, 2023, which was originally corrected within the second quarter of 2023 as management determined the errors were not material to the quarterly financial statements as of and for the three and six months ended June 30, 2023. • In the fourth quarter of 2023, we identified an incremental $10.4 million understatement of tax expense as well as balance sheet misclassification between income tax accounts included within Other Current Assets, Other Assets, Accruals and Other Liabilities, and Deferred Tax Liabilities. These errors were related to the incorrect applications of tax payments, and the incorrect calculation of deferred tax balances for items mainly associated with interest expense, intangible assets, fixed assets, state tax, basis adjustment for partnership, and the related valuation allowance. We also identified an error in our tax receivable agreement (“TRA”) liability calculation which resulted in a $2.1 million overstatement of other expenses and of Other Liabilities. As a result of the above, the Company’s previously filed second quarter of 2023 interim consolidated financial statements have been revised. See Note 17 of the Notes included herein for additional information. The remaining 2023 interim financial statements will be presented as revised when such financial statements are issued. Recent Developments On July 19, 2024, the Company acquired L.D.R.S. Group Ltd. (“Leaders”), for $3.8 million, of which $2.9 million was paid in cash and $0.9 million in 135,010 shares of the Company’s Class A Common stock, par value $0.001 per share (“Class A Common Stock”) subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of $6.6 million, partially subject to continued employment and meeting certain future earnings targets, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Acquisitions and Dispositions	Acquisitions 2024 Acquisitions Acquisition of Team Epiphany On January 2, 2024, the Company acquired Team Epiphany, LLC (“Epiphany”), a consumer marketing company, for $15.8 million, of which $10.8 million was paid in cash and $5.0 million in 797,916 shares of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of $17.0 million, subject to continued employment and meeting certain future earnings targets, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The consideration has been allocated to the assets acquired and assumed liabilities of Epiphany based upon fair values. The preliminary purchase price allocation is as follows: Amount (dollars in thousands) Cash and cash equivalents $ 1,095 Accounts receivable, net 8,677 Expenditures billable to clients 4,823 Other current assets 402 Right-of-use lease assets 2,788 Fixed assets 184 Identifiable intangible assets 4,316 Accounts payable (1,086) Accruals and other liabilities (664) Advance billings (8,808) Current portion of lease liabilities - operating leases (516) Long-term lease liabilities - operating leases (2,600) Net assets assumed 8,611 Goodwill 7,237 Purchase price consideration $ 15,848 The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Epiphany. Goodwill of $7.2 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is deductible for income tax purposes. Intangible assets consist of trade names and customer relationships. We amortize purchased intangible assets on a straight-line basis over their respective useful lives. The weighted average life of the total acquired identifiable intangible assets is three years. The following table presents the details of identifiable intangible assets acquired: Estimated Fair Value Estimated Useful Life in Years (dollars in thousands) Customer relationships $ 3,767 3 Trade names 549 3 Total acquired intangible assets $ 4,316 Pro Forma Financial Information The unaudited pro forma information for the periods set forth below gives effect to the acquisition as if it occurred as of January 1, 2023. The pro forma revenue and net loss for the three and six months ended June 30, 2024 would not be materially different from the actual revenue and net loss reported. The pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time. Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 (dollars in thousands) Revenue $ 642,126 $ 1,272,964 Net loss $ (3,852) $ (5,973) Revenue attributable to Epiphany, included within the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024 was $10.3 million and $23.7 million, respectively. Net income attributable to Epiphany, included within the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024 was $0.6 million and $0.7 million, respectively. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. Other 2024 Acquisitions On April 5, 2024, the Company acquired PROS Agency (“PROS”), for 42.1 million Brazilian reals (“R$”) (approximately $9 million) of which R$23.3 million (approximately $5 million) was paid in cash, R$5.3 million (approximately $1 million) was paid in 182,256 shares of Class A Common Stock, and R$13.5 million (approximately $3 million) was attributed to contingent consideration which is considered part of the purchase price. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of R$72.5 million (approximately $14 million), partially subject to continued employment, and meeting certain future earnings targets, of which a portion may be settled in shares of the Company’s Class A Common Stock, at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of PROS and expected growth related to new customer relationships. Goodwill of $5.5 million was assigned to the Communications Network reportable segment. The goodwill is not fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On April 4, 2024, the Company acquired What’s Next Partners (“WNP”), for 4.3 million Euros (“€”) (approximately $5 million) in cash. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of €8.5 million (approximately $9 million), partially subject to continued employment and meeting certain future earnings targets, of which a portion may be settled in shares of the Company’s Class A Common Stock, at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of WNP and expected growth related to new customer relationships. Goodwill of $5.4 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is not fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On March 1, 2024, the Company acquired Sidekick Live Limited (“Sidekick”), for 4.6 million British pounds (“£”) (approximately $6 million) of which £3.6 million (approximately $5 million) was paid in cash, £0.1 million (approximately $0.2 million) was incurred as a certain payable to sellers, and £0.9 million (approximately $1 million) in 195,431 shares of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of £8.0 million (approximately $10 million), subject to continued employment requirements and meeting certain future earnings targets, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was mainly recorded as goodwill, which is primarily attributable to the assembled workforce of Sidekick and expected growth related to new customer relationships. Goodwill of $2.0 million was assigned to the Communications Network reportable segment. The goodwill is not fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. 2023 Acquisitions On November 1, 2023, the Company acquired Movers and Shakers LLC (“Movers and Shakers”), a digital creative company, for $14.7 million, of which $10.2 million was paid in cash and $4.5 million in 1.0 million shares of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of $35.0 million, subject to meeting certain future earnings targets and continued employment, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Movers and Shakers and expected growth related to new customer relationships. Goodwill of $8.2 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On October 2, 2023, the Company acquired Left Field Labs LLC (“LFL”), a digital experience design and strategy company, for $13.2 million, of which $9.4 million was paid in cash and $3.8 million in 825,402 of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of $51.0 million, subject to continued employment and meeting certain future earnings targets, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of LFL and expected growth related to new customer relationships. Goodwill of $7.9 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On July 3, 2023, the Company acquired Tinsel Experiential Design LLC (“Tinsel”), a marketing and design company, for $2.5 million in cash consideration, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration, subject to continued employment, and meeting certain future earnings targets. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Tinsel and expected growth related to new customer relationships. Goodwill of $1.6 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is fully deductible for income tax purposes. On April 25, 2023, the Company acquired Huskies, Ltd. (“Huskies”), for 5.2 million Euros (“€”) (approximately $6 million) of cash consideration, of which €0.9 million (approximately $1 million) is deferred, subject to post-closing adjustments. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Huskies and expected growth related to new customer relationships and geographic expansion. Goodwill of $2.6 million was assigned to the Brand Performance Network reportable segment. The goodwill is non-deductible for income tax purposes. 2023 Dispositions On October 31, 2023, the Company sold ConcentricLife (“Concentric”), which was included in Integrated Agencies Network, to a strategic buyer for $245.0 million in cash resulting in a pre-tax gain of $94.5 million. The gain was recognized within Gain on sale of business within the Consolidated Statements of Operations. The divestiture did not represent a strategic shift that would have a major effect on the Company’s consolidated results of operations, and therefore its results of operations were not reported as discontinued operations. 6. Deferred Acquisition Consideration Deferred acquisition consideration on the Unaudited Consolidated Balance Sheet consists of deferred obligations related to contingent and fixed purchase price payments, and contingent and fixed retention payments tied to continued employment of specific personnel. Arrangements that are not contingent upon future employment are initially measured at the acquisition date fair value and are remeasured at each reporting period within Office and general expenses on the Unaudited Consolidated Statements of Operations. Arrangements that are contingent upon future employment are expensed as earned over the respective vesting (employment) period within Office and general expenses on the Unaudited Consolidated Statements of Operations. The following table presents changes in deferred acquisition consideration for the six months ended June 30, 2024 and the year ended December 31, 2023 and a reconciliation to the amounts reported on the Unaudited Consolidated Balance Sheet as of June 30, 2024 and Consolidated Balance Sheet as of December 31, 2023: June 30, December 31, 2023 (dollars in thousands) Beginning balance $ 101,058 $ 161,323 Payments (1) (45,028) (97,447) Adjustments to deferred acquisition consideration (2) 11,244 14,303 Additions (3) 4,220 22,172 Currency translation adjustment (453) 680 Other — 27 Ending balance (4) $ 71,041 $ 101,058 (1) Includes deferred acquisition consideration payments settled in shares of Class A Common Stock of $18.2 million and $32.8 million, respectively, for the period ended June 30, 2024 and December 31, 2023. (2) Adjustments to deferred acquisition consideration contains fair value changes from the Company’s initial estimates of deferred acquisition payments and accretion of expense as awards are earned over the vesting period. (3) In 2021, the Company entered into an agreement to purchase the remaining 26.7% interest in Targeted Victory it did not previously own. The agreement provided for the purchase of 50% of the interest on October 1, 2021 (paid in October 2023) and 50% on July 31, 2023 (payable in October 2025 with a seller’s right to modify the performance period and defer payment until October 2027). In connection with the purchase, the estimated amount payable in October 2025, was reclassified from redeemable noncontrolling interest to deferred acquisition consideration in 2023. (4)

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	4. Revenue Disaggregated Revenue Data The Company provides a broad range of services to a large base of clients across the full spectrum of verticals globally. The primary source of revenue is from Brand arrangements in the form of fees for services performed, commissions, and from performance incentives or bonuses. Certain clients may engage with the Company in various geographic locations, across multiple disciplines, and through multiple Brands. Representation of a client rarely means that Stagwell handles marketing communications for all Brands or product lines of the client in every geographical location. The Company’s Brands often cooperate with one another through referrals and the sharing of both services and expertise, which enables Stagwell to service clients’ varied marketing needs by crafting custom integrated solutions. The following table presents revenue disaggregated by our principal capabilities for the three and six months ended June 30, 2024 and 2023. We reclassified certain brands into the Stagwell Marketing Cloud Group (software-as-a-service and data-as-a-service tools for in-house marketers) principal capability in the third quarter of 2023. All prior periods presented have been revised to reflect these changes. Three Months Ended June 30, Six Months Ended June 30, Principal Capabilities Reportable Segment 2024 2023 2024 2023 (dollars in thousands) Digital Transformation All segments $ 163,472 $ 160,067 $ 359,235 $ 345,582 Creativity and Communications All segments 316,761 291,290 608,414 555,172 Performance Media and Data Integrated Agencies Network and Brand Performance Network 78,411 74,975 155,427 142,949 Consumer Insights and Strategy Integrated Agencies Network 47,717 48,765 93,486 98,020 Stagwell Marketing Cloud Group All segments 64,807 57,168 124,665 112,986 $ 671,168 $ 632,265 $ 1,341,227 $ 1,254,709 Stagwell’s Brands are located in the United States and United Kingdom, and more than 32 other countries around the world. The Company continues to expand its global footprint to support clients in international markets. Historically, some clients have responded to weakening economic conditions with reductions to their marketing budgets, which included discretionary components that are easier to reduce in the short term than other operating expenses. The following table presents revenue disaggregated by geography for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, Geographical Location Reportable Segment 2024 2023 2024 2023 (dollars in thousands) United States All $ 551,080 $ 513,265 $ 1,114,730 $ 1,031,033 United Kingdom All 40,515 42,805 78,276 75,212 Other All 79,573 76,195 148,221 148,464 $ 671,168 $ 632,265 $ 1,341,227 $ 1,254,709 Contract Assets and Liabilities Contract assets consist of fees and reimbursable outside vendor costs incurred on behalf of clients when providing advertising, marketing and corporate communications services that have not yet been invoiced to clients. Such amounts are invoiced to clients at various times over the course of providing services. In arrangements in which we are acting as principal, contract assets are included as a component of Accounts receivable on the Unaudited Consolidated Balance Sheet. These assets were $181.7 million and $141.9 million as of June 30, 2024 and December 31, 2023, respectively. In arrangements in which we are acting as agent, contract assets are included on the Unaudited Consolidated Balance Sheet as Expenditures billable to clients. These assets were $126.1 million and $114.1 million as of June 30, 2024 and December 31, 2023, respectively. Contract liabilities represent advanced billings to customers for fees and reimbursements of third-party costs, whether we act as principal or agent. Such fees and reimbursements of third-party costs are classified as Advance billings on the Company’s Unaudited Consolidated Balance Sheet. In arrangements in which we are acting as an agent, the recognition related to the contract liability is presented on a net basis within the Unaudited Consolidated Statements of Operations. Advance billings at June 30, 2024 and December 31, 2023 were $320.5 million and $301.7 million, respectively. The change in Advance billings of $18.9 million for the six months ended June 30, 2024 was primarily driven by $245.0 million of revenue recognized that was included in the Advance billings balances as of December 31, 2023, the incurrence of third-party costs, and cash payments received or due in advance of satisfying our performance obligations. The Company acquired $5.5 million in contact assets and $8.8 million in contact liabilities in connection with the acquisition of Epiphany. See Note 3 of the Notes included herein for additional information related to this acquisition. Changes in the contract asset and liability balances during the six months ended June 30, 2024 were not materially impacted by write offs, impairment losses or any other factors. Unsatisfied Performance Obligations

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	5. Earnings (Loss) Per Share The following table sets forth the computations of basic and diluted loss per common share for the three and six months ended June 30, 2024 (amounts in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2024 Loss Per Share - Basic and Diluted Numerator: Net loss $ (3,954) $ (4,667) Net loss attributable to Class C shareholders 2,535 3,582 Net income attributable to other equity interest holders (1,546) (3,162) Net loss attributable to noncontrolling and redeemable noncontrolling interests 989 420 Net loss attributable to Stagwell Inc. common shareholders $ (2,965) $ (4,247) Denominator: Weighted average number of common shares outstanding 113,484 113,059 Loss Per Share - Basic and Diluted $ (0.03) $ (0.04) Anti-dilutive: Class C Shares 151,649 151,649 Stock Appreciation Rights and Restricted Awards 4,177 3,641 Class A Shares to settle deferred acquisition obligations 2,810 2,851 Employee Stock Purchase Plan shares 39 39 The following table sets forth the computations of basic and diluted loss per common share for the three months ended June 30, 2023 (amounts in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2023 2023 Loss Per Share - Basic and Diluted Numerator: Net loss $ (4,965) $ (7,834) Net loss attributable to Class C shareholders 771 2,734 Net loss attributable to other equity interest holders 1,000 3,295 Net loss attributable to noncontrolling and redeemable noncontrolling interests $ 1,771 $ 6,029 Net loss attributable to Stagwell Inc. common shareholders $ (3,194) $ (1,805) Denominator: Weighted Average number of common shares outstanding 115,400 120,272 Loss Per Share - Basic and Diluted $ (0.03) $ (0.01) Anti-dilutive: Class C Shares 155,821 158,351 Stock Appreciation Rights and Restricted Awards 4,416 4,736 Class A Shares to settle deferred acquisition obligations 4,719 4,620 Restricted stock awards of 4.6 million and 3.7 million as of June 30, 2024 and 2023, respectively, were excluded from the computation of diluted earnings (loss) per common share because the performance contingencies necessary for vesting were not met as of the reporting date.

Deferred Acquisition Considerat

Deferred Acquisition Consideration	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Deferred Acquisition Consideration	Acquisitions 2024 Acquisitions Acquisition of Team Epiphany On January 2, 2024, the Company acquired Team Epiphany, LLC (“Epiphany”), a consumer marketing company, for $15.8 million, of which $10.8 million was paid in cash and $5.0 million in 797,916 shares of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of $17.0 million, subject to continued employment and meeting certain future earnings targets, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The consideration has been allocated to the assets acquired and assumed liabilities of Epiphany based upon fair values. The preliminary purchase price allocation is as follows: Amount (dollars in thousands) Cash and cash equivalents $ 1,095 Accounts receivable, net 8,677 Expenditures billable to clients 4,823 Other current assets 402 Right-of-use lease assets 2,788 Fixed assets 184 Identifiable intangible assets 4,316 Accounts payable (1,086) Accruals and other liabilities (664) Advance billings (8,808) Current portion of lease liabilities - operating leases (516) Long-term lease liabilities - operating leases (2,600) Net assets assumed 8,611 Goodwill 7,237 Purchase price consideration $ 15,848 The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Epiphany. Goodwill of $7.2 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is deductible for income tax purposes. Intangible assets consist of trade names and customer relationships. We amortize purchased intangible assets on a straight-line basis over their respective useful lives. The weighted average life of the total acquired identifiable intangible assets is three years. The following table presents the details of identifiable intangible assets acquired: Estimated Fair Value Estimated Useful Life in Years (dollars in thousands) Customer relationships $ 3,767 3 Trade names 549 3 Total acquired intangible assets $ 4,316 Pro Forma Financial Information The unaudited pro forma information for the periods set forth below gives effect to the acquisition as if it occurred as of January 1, 2023. The pro forma revenue and net loss for the three and six months ended June 30, 2024 would not be materially different from the actual revenue and net loss reported. The pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time. Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 (dollars in thousands) Revenue $ 642,126 $ 1,272,964 Net loss $ (3,852) $ (5,973) Revenue attributable to Epiphany, included within the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024 was $10.3 million and $23.7 million, respectively. Net income attributable to Epiphany, included within the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024 was $0.6 million and $0.7 million, respectively. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. Other 2024 Acquisitions On April 5, 2024, the Company acquired PROS Agency (“PROS”), for 42.1 million Brazilian reals (“R$”) (approximately $9 million) of which R$23.3 million (approximately $5 million) was paid in cash, R$5.3 million (approximately $1 million) was paid in 182,256 shares of Class A Common Stock, and R$13.5 million (approximately $3 million) was attributed to contingent consideration which is considered part of the purchase price. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of R$72.5 million (approximately $14 million), partially subject to continued employment, and meeting certain future earnings targets, of which a portion may be settled in shares of the Company’s Class A Common Stock, at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of PROS and expected growth related to new customer relationships. Goodwill of $5.5 million was assigned to the Communications Network reportable segment. The goodwill is not fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On April 4, 2024, the Company acquired What’s Next Partners (“WNP”), for 4.3 million Euros (“€”) (approximately $5 million) in cash. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of €8.5 million (approximately $9 million), partially subject to continued employment and meeting certain future earnings targets, of which a portion may be settled in shares of the Company’s Class A Common Stock, at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of WNP and expected growth related to new customer relationships. Goodwill of $5.4 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is not fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On March 1, 2024, the Company acquired Sidekick Live Limited (“Sidekick”), for 4.6 million British pounds (“£”) (approximately $6 million) of which £3.6 million (approximately $5 million) was paid in cash, £0.1 million (approximately $0.2 million) was incurred as a certain payable to sellers, and £0.9 million (approximately $1 million) in 195,431 shares of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of £8.0 million (approximately $10 million), subject to continued employment requirements and meeting certain future earnings targets, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was mainly recorded as goodwill, which is primarily attributable to the assembled workforce of Sidekick and expected growth related to new customer relationships. Goodwill of $2.0 million was assigned to the Communications Network reportable segment. The goodwill is not fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. 2023 Acquisitions On November 1, 2023, the Company acquired Movers and Shakers LLC (“Movers and Shakers”), a digital creative company, for $14.7 million, of which $10.2 million was paid in cash and $4.5 million in 1.0 million shares of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of $35.0 million, subject to meeting certain future earnings targets and continued employment, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Movers and Shakers and expected growth related to new customer relationships. Goodwill of $8.2 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On October 2, 2023, the Company acquired Left Field Labs LLC (“LFL”), a digital experience design and strategy company, for $13.2 million, of which $9.4 million was paid in cash and $3.8 million in 825,402 of Class A Common Stock, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration up to a maximum value of $51.0 million, subject to continued employment and meeting certain future earnings targets, of which a portion may be settled in shares of Class A Common Stock at the Company’s discretion. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of LFL and expected growth related to new customer relationships. Goodwill of $7.9 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is fully deductible for income tax purposes. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On July 3, 2023, the Company acquired Tinsel Experiential Design LLC (“Tinsel”), a marketing and design company, for $2.5 million in cash consideration, subject to post-closing adjustments. In connection with the acquisition, the sellers are entitled to contingent consideration, subject to continued employment, and meeting certain future earnings targets. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Tinsel and expected growth related to new customer relationships. Goodwill of $1.6 million was assigned to the Integrated Agencies Network reportable segment. The goodwill is fully deductible for income tax purposes. On April 25, 2023, the Company acquired Huskies, Ltd. (“Huskies”), for 5.2 million Euros (“€”) (approximately $6 million) of cash consideration, of which €0.9 million (approximately $1 million) is deferred, subject to post-closing adjustments. The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributable to the assembled workforce of Huskies and expected growth related to new customer relationships and geographic expansion. Goodwill of $2.6 million was assigned to the Brand Performance Network reportable segment. The goodwill is non-deductible for income tax purposes. 2023 Dispositions On October 31, 2023, the Company sold ConcentricLife (“Concentric”), which was included in Integrated Agencies Network, to a strategic buyer for $245.0 million in cash resulting in a pre-tax gain of $94.5 million. The gain was recognized within Gain on sale of business within the Consolidated Statements of Operations. The divestiture did not represent a strategic shift that would have a major effect on the Company’s consolidated results of operations, and therefore its results of operations were not reported as discontinued operations. 6. Deferred Acquisition Consideration Deferred acquisition consideration on the Unaudited Consolidated Balance Sheet consists of deferred obligations related to contingent and fixed purchase price payments, and contingent and fixed retention payments tied to continued employment of specific personnel. Arrangements that are not contingent upon future employment are initially measured at the acquisition date fair value and are remeasured at each reporting period within Office and general expenses on the Unaudited Consolidated Statements of Operations. Arrangements that are contingent upon future employment are expensed as earned over the respective vesting (employment) period within Office and general expenses on the Unaudited Consolidated Statements of Operations. The following table presents changes in deferred acquisition consideration for the six months ended June 30, 2024 and the year ended December 31, 2023 and a reconciliation to the amounts reported on the Unaudited Consolidated Balance Sheet as of June 30, 2024 and Consolidated Balance Sheet as of December 31, 2023: June 30, December 31, 2023 (dollars in thousands) Beginning balance $ 101,058 $ 161,323 Payments (1) (45,028) (97,447) Adjustments to deferred acquisition consideration (2) 11,244 14,303 Additions (3) 4,220 22,172 Currency translation adjustment (453) 680 Other — 27 Ending balance (4) $ 71,041 $ 101,058 (1) Includes deferred acquisition consideration payments settled in shares of Class A Common Stock of $18.2 million and $32.8 million, respectively, for the period ended June 30, 2024 and December 31, 2023. (2) Adjustments to deferred acquisition consideration contains fair value changes from the Company’s initial estimates of deferred acquisition payments and accretion of expense as awards are earned over the vesting period. (3) In 2021, the Company entered into an agreement to purchase the remaining 26.7% interest in Targeted Victory it did not previously own. The agreement provided for the purchase of 50% of the interest on October 1, 2021 (paid in October 2023) and 50% on July 31, 2023 (payable in October 2025 with a seller’s right to modify the performance period and defer payment until October 2027). In connection with the purchase, the estimated amount payable in October 2025, was reclassified from redeemable noncontrolling interest to deferred acquisition consideration in 2023. (4)

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	7. Leases The Company leases office space in North America, Europe, Asia, South America, Africa, and Australia. This space is primarily used for office and administrative purposes by the Company’s employees in performing professional services. These leases are classified as operating leases and expire between years 2024 through 2034. The Company’s finance leases are immaterial. Lease costs are recognized in the Unaudited Consolidated Statements of Operations over the lease term on a straight-line basis. Leasehold improvements are depreciated on a straight-line basis over the lesser of the term of the related lease or the estimated useful life of the asset. Some of the Company’s leases include options to extend or renew the leases through 2044. The renewal and extension options are not included in the lease term as the Company is not reasonably certain that it will exercise its option. From time to time, the Company enters into sublease arrangements with unrelated third parties. These subleases are classified as operating leases and expire between years 2024 through 2032. Sublease income is recognized over the lease term on a straight-line basis. Currently, the Company subleases office space in North America and Europe. As of June 30, 2024, the Company had entered into three operating leases for which the commencement date had not yet occurred primarily because of the premises being prepared for occupancy by the landlord. Accordingly, these three leases represent an obligation of the Company that is not reflected within the Unaudited Consolidated Balance Sheet as of June 30, 2024. The aggregate future liability related to these leases was $0.7 million. The discount rate used for leases accounted for under ASC 842 is the Company’s collateralized credit adjusted borrowing rate. The following table presents lease costs and other quantitative information for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Lease Cost: (dollars in thousands) Operating lease cost $ 18,702 $ 18,950 $ 39,648 $ 38,528 Variable lease cost 5,889 5,657 11,826 10,218 Sublease rental income (1,935) (2,564) (4,415) (5,616) Total lease cost $ 22,656 $ 22,043 $ 47,059 $ 43,130 Additional information: Cash paid for amounts included in the measurement of lease liabilities for operating leases Operating cash flows $ 22,159 $ 21,925 $ 43,819 $ 44,272 Right-of-use lease assets obtained in exchange for operating lease liabilities and other non-cash adjustments (1) $ 7,171 $ 4,401 $ 13,138 $ 6,536 (1) Includes Right-of-use lease assets obtained in exchange for operating lease liabilities related to acquisitions. As of June 30, 2024, the weighted average remaining lease term was 6.1 years and the weighted average discount rate was 5.6%. Operating lease expense is included in Office and general expenses in the Unaudited Consolidated Statements of Operations. The Company’s lease expense for leases with a term of 12 months or less is immaterial. In the six months ended June 30, 2024, the Company ceased using certain office space and as such recognized a charge of $1.7 million to reduce the carrying value of two of its right-of-use lease assets and related leasehold improvements. The right-of-use lease assets and related leasehold improvements were related to an agency within the Integrated Agencies Network and to Corporate. In each of the three and six months ended June 30, 2023, the Company recorded a charge of $9.2 million to reduce the carrying value of two of its right-of-use assets and related leasehold improvements. The right-of-use lease assets were related to agencies within the Integrated Agencies Network. With regard to the aforementioned impairments, the Company evaluated the facts and circumstances related to the use of the assets which indicated that they may not be recoverable. Using estimated and actual sublease income to develop expected future cash flows, it was determined that the fair value of the assets were less than their carrying value. The impairment charge is included in Impairment and other losses within the Unaudited Consolidated Statements of Operations. The following table presents minimum future rental payments under the Company’s leases as of June 30, 2024 and their reconciliation to the corresponding lease liabilities: Maturity Analysis (dollars in thousands) 2024 $ 38,383 2025 72,438 2026 60,464 2027 53,925 2028 50,295 Thereafter 114,627 Total 390,132 Less: Present value discount (63,464) Lease liability $ 326,668

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	8. Debt As of June 30, 2024 and December 31, 2023, the Company’s indebtedness was comprised as follows: June 30, December 31, (dollars in thousands) Credit Agreement $ 334,000 $ 59,000 5.625% Notes 1,100,000 1,100,000 Debt issuance costs (11,774) (13,172) 5.625% Notes, net of debt issuance costs 1,088,226 1,086,828 Total long-term debt $ 1,422,226 $ 1,145,828 Interest expense related to long-term debt included in Interest expense, net on the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024, was $23.2 million and $43.5 million, respectively, and for the three and six months ended June 30, 2023 was $22.4 million and $40.6 million, respectively. The amortization of debt issuance costs included in Interest expense, net on the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024 was $0.7 million and $1.4 million, respectively, and for the three and six months ended June 30, 2023 was $1.2 million and $1.8 million, respectively. Revolving Credit Agreement The Company is party to a senior secured revolving credit facility with a five-year maturity with a syndicate of banks (the “Credit Agreement”). The Credit Agreement provides revolving commitments of up to $640.0 million and permits restricted payments for share repurchases or redemptions from certain of its stockholders in an aggregate principal amount of up to $150.0 million. The Credit Agreement contains a number of financial and nonfinancial covenants and is guaranteed by substantially all of our present and future subsidiaries, subject to customary exceptions. The Company was in compliance with all covenants as of June 30, 2024. A portion of the Credit Agreement in an amount not to exceed $50.0 million is available for the issuance of standby letters of credit. As of June 30, 2024 and December 31, 2023, the Company had issued undrawn outstanding letters of credit of $15.5 million and $16.2 million, respectively. Senior Notes The Company had $1.1 billion aggregate principal amount of 5.625% senior notes (“5.625% Notes”) outstanding as of June 30, 2024. The 5.625% Notes are due August 15, 2029 and bear annual interest of 5.625% to be paid semiannually on February 15 and August 15 of each year. The 5.625% Notes are also subject to certain covenants, customary events of default, including cross-payment default and cross-acceleration provisions. The Company was in compliance with all covenants as of June 30, 2024.

Noncontrolling and Redeemable N

Noncontrolling and Redeemable Noncontrolling Interests	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Noncontrolling and Redeemable Noncontrolling Interests	9. Noncontrolling and Redeemable Noncontrolling Interests When acquiring less than 100% ownership of an entity, the Company may enter into agreements that give the Company an option to purchase, or require the Company to purchase, the incremental ownership interests under certain circumstances. Where the option to purchase the incremental ownership is within the Company’s control, the amounts are recorded as Noncontrolling interests within Shareholders’ Equity in the Unaudited Consolidated Balance Sheet. Where the incremental purchase may be required of the Company, the amounts are recorded as Redeemable noncontrolling interests in mezzanine equity in the Unaudited Consolidated Balance Sheet at their estimated acquisition date redemption value and adjusted at each reporting period for changes to their estimated redemption value through Retained earnings (but not less than their initial redemption value), except for foreign currency translation adjustments. The following table presents Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests between Class C shareholders and other equity interest holders for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (dollars in thousands) Net loss attributable to Class C shareholders $ (2,535) $ (771) $ (3,582) $ (2,734) Net income (loss) attributable to other equity interest holders 773 (29) 1,596 219 Net loss attributable to noncontrolling interests $ (1,762) $ (800) $ (1,986) $ (2,515) Net income (loss) attributable to redeemable noncontrolling interests 773 (971) 1,566 (3,514) Net loss attributable to noncontrolling and redeemable noncontrolling interests $ (989) $ (1,771) $ (420) $ (6,029) The following table presents noncontrolling interests between Class C shareholders and other equity interest holders as of June 30, 2024 and December 31, 2023: June 30, December 31, (dollars in thousands) Noncontrolling interest of Class C shareholders $ 416,814 $ 436,215 Noncontrolling interest of other equity interest holders (1) 21,540 32,362 Total noncontrolling interests $ 438,354 $ 468,577 (1) In January 2024, the Company entered into an agreement to purchase the remaining noncontrolling ownership interest in a subsidiary it previously controlled, the consideration for which was a portion of the subsidiary that was transferred to the noncontrolling interest owner. The non-cash purchase resulted in a reduction of the subsidiary noncontrolling interest by approximately $10 million. The following table presents changes in redeemable noncontrolling interests for the six months ended June 30, 2024 and the year ended December 31, 2023: June 30, December 31, (dollars in thousands) Beginning balance $ 10,792 $ 39,111 Redemptions (1) — (22,172) Distributions (1,409) (5,800) Changes in redemption value 135 442 Net income (loss) attributable to redeemable noncontrolling interests 1,566 (634) Other 23 (155) Ending balance $ 11,107 $ 10,792 (1) Redemptions for the year ended December 31, 2023, is associated with redeemable noncontrolling interest of a certain brand we did not previously own. The amount was reclassified as a deferred acquisition contingent obligation (see Note 6). The noncontrolling shareholders’ ability to exercise any such option right is subject to the satisfaction of certain conditions, including conditions requiring notice in advance of exercise and specific employment termination conditions. In addition, these rights cannot be exercised prior to specified staggered exercise dates. The exercise of these rights at their earliest contractual date would result in obligations of the Company to fund the related amounts during 2024 to 2028. It is not determinable, at this time, if or when the owners of these rights will exercise all or a portion of these rights. These adjustments will not impact the calculation of earnings (loss) per share if the redemption values are less than the estimated fair values. As such, there is no related impact on the Company’s earnings (loss) per share calculations for the three and six months ended June 30, 2024 and 2023. Comprehensive Income (Loss) Attributable to Noncontrolling and Redeemable Noncontrolling Interests For the three months ended June 30, 2024, comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests was $4.5 million, which consists of $1.0 million of net loss and $3.5 million of other comprehensive loss. For the six months ended June 30, 2024, comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests was $8.2 million, which consists of $0.4 million of net loss and $7.8 million of other comprehensive loss. For the three months ended June 30, 2023, comprehensive income attributable to the noncontrolling and redeemable noncontrolling interests was $1.2 million, which consists of $1.8 million of net loss and $2.9 million of other comprehensive income. For the six months ended June 30, 2023, comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests was $0.9 million, which consists of $6.0 million of net loss and $5.2 million of other comprehensive income.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	10. Commitments, Contingencies, and Guarantees Legal Proceedings. The Company’s operating entities are involved in legal proceedings and regulatory inquiries of various types. While any litigation or investigation contains an element of uncertainty, the Company has no reason to believe that the outcome of such proceedings or claims will have a material adverse effect on the financial condition or results of operations of the Company. Guarantees . Generally, the Company has indemnified the purchasers of certain assets in the event that a third party asserts a claim against the purchaser that relates to a liability retained by the Company. These types of indemnification guarantees typically extend for a number of years. Historically, the Company has not made any significant indemnification payments under such agreements and no amount has been accrued in the accompanying Unaudited Consolidated Financial Statements with respect to these indemnification guarantees. The Company continues to monitor the conditions that are subject to guarantees and indemnifications to identify whether it is probable that a loss has occurred and would recognize any such losses under any guarantees or indemnifications in the period when those losses are probable and estimable. Commitments. At June 30, 2024, the Company had $15.5 million of undrawn letters of credit outstanding. See Note 8 of the Notes included herein for additional information. The Company entered into three operating leases for which the commencement date has not yet occurred as of June 30, 2024. See Note 7 of the Notes included herein for additional information. In the ordinary course of business, the Company may enter into long-term, non-cancellable contracts with partner associations that include revenue or profit-sharing commitments related to the provision of its services. These contracts may also include provisions that require the partner associations to meet certain performance targets prior to any obligation to the Company. As of June 30, 2024, the Company estimates its future minimum commitments under these non-cancellable agreements to be: $6.0 million for the remainder of 2024, and $9.2 million, $4.1 million, $3.0 million, $3.1 million and $3.9 million for 2025, 2026, 2027, 2028, and thereafter, respectively. The Company has also entered into a certain long-term, non-cancellable contract with a certain vendor for cloud services that requires the Company to commit to minimum spending over the contract term. As of June 30, 2024, the Company estimates its future minimum commitments under this agreement to be: $5.3 million for the remainder of 2024, and $6.9 million, $8.7 million, $10.4 million, $12.7 million and $15.3 million for 2025, 2026, 2027, 2028, and thereafter, respectively.

Share Capital

Share Capital	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Share Capital	11. Share Capital The authorized and outstanding share capital of the Company is below. Class A Common Stock There are 1.0 billion shares of Class A Common Stock authorized, of which 112.0 million shares were issued and outstanding as of June 30, 2024. Each share of Class A Common Stock carries one vote and represents an economic interest in the Company. Class C Common Stock There are 250.0 million shares of Class C Common Stock authorized, par value $0.00001 per share (the “Class C Common Stock”) of which 151.6 million shares were issued and outstanding as of June 30, 2024. Each share of Class C Common Stock carries one vote and does not represent an economic interest in the Company. Each share of Class C Common Stock is paired with a corresponding common unit of Stagwell Global LLC (“OpCo”), the Company’s only operating subsidiary (each such paired share of Class C Common Stock and common unit of OpCo, a “Paired Unit”). Each holder of Paired Units may, at its option, exchange such Paired Units for shares of Class A Common Stock on a one-to-one basis (i.e., one Paired Unit for one share of Class A Common Stock). Class A Common Stock Repurchases The Company may purchase up to an aggregate of $250.0 million of shares of outstanding Class A Common Stock under its stock repurchase program (the “Repurchase Program”). The Repurchase Program, which was last authorized on March 1, 2023, expires on March 1, 2026. Under the Repurchase Program, share repurchases may be made at our discretion from time to time in open market transactions at prevailing market prices, including through trading plans that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, in privately negotiated transactions, or through other means. The timing and number of shares repurchased under the Repurchase Program will depend on a variety of factors, including the performance of our stock price, general market and economic conditions, regulatory requirements, the availability of funds, and other considerations we deem relevant. The Repurchase Program may be suspended, modified or discontinued at any time without prior notice. Our Board of Directors (the “ Board ” ) will review the Repurchase Program periodically and may authorize adjustments of its terms. During the six months ended June 30, 2024, 11.8 million shares of Class A Common Stock were repurchased pursuant to the Repurchase Program at an average price of $6.24 per share, for an aggregate value, excluding fees, of $73.7 million. The shares repurchased include 4 million shares of Class A Common Stock repurchased from certain affiliates of The Goldman Sachs Group, Inc. at a price of $6.34 per share, for an aggregate purchase price of $25.4 million. The remaining value of shares of Class A Common Stock permitted to be repurchased under the Repurchase Program was $64.8 million as of June 30, 2024. Employee Stock Purchase Plan A total of 3.0 million shares of Class A Common Stock are reserved for sale under the Employee Stock Purchase Plan (the “ESPP”) to eligible employees as defined in the plan. Under the ESPP, eligible employees can elect to withhold up to 15% of their earnings, subject to certain maximums, to purchase shares of Class A Common Stock on certain plan-defined dates. The purchase price for each offering period is 92.5% of the fair market value of shares of Class A Common Stock at the end of the offering period. The plan is considered compensatory resulting in the fair value of the discount being expensed over the service period. The total number of shares authorized that remained available to be issued was 2.8 million as of June 30, 2024.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. Fair Value Measurements A fair value measurement assumes a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. The hierarchy for observable and unobservable inputs used to measure fair value into three broad levels are described below: • Level 1 - Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. • Level 2 - Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. • Level 3 - Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. Financial Instruments that are not Measured at Fair Value on a Recurring Basis The following table presents certain information for our financial liability that is not measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value (dollars in thousands) 5.625% Notes $ 1,100,000 $ 1,017,500 $ 1,100,000 $ 1,010,658 The fair value of this instrument is based on quoted market prices in markets that are not active. Therefore, this debt is classified as Level 2 within the fair value hierarchy. Financial Instruments Measured at Fair Value on a Recurring Basis Contingent deferred acquisition consideration (Level 3 fair value measurement) is initially recorded at the acquisition date fair value and adjusted at each reporting period. The estimated liability is determined in accordance with models of each business’ future performance, including revenue growth and free cash flows. These models are dependent upon significant assumptions, such as the growth rate of the earnings of the relevant subsidiary during the contractual period and the discount rate. These growth rates are consistent with the Company’s long-term forecasts. As of June 30, 2024, the discount rate used to measure these liabilities ranged from 8.6% to 9.9%. As these estimates require the use of assumptions about future performance, which are uncertain at the time of estimation, the fair value measurements presented on the Unaudited Consolidated Balance Sheet are subject to material uncertainty. See Note 6 of the Notes included herein for additional information regarding contingent deferred acquisition consideration. As of June 30, 2024 and December 31, 2023, the carrying amount of the Company’s financial instruments, including cash, cash equivalents, accounts receivable and accounts payable, approximated fair value because of their short-term maturity. Non-financial Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Certain non-financial assets are measured at fair value on a nonrecurring basis, primarily goodwill, intangible assets (Level 3 fair value measurements) and right-of-use lease assets (Level 2 fair value measurement). Accordingly, these assets are not measured and adjusted to fair value on an ongoing basis but are subject to periodic evaluations for potential impairment. See Note 7 of the Notes included herein for additional information on right-of-use lease assets.

Supplemental Information

Supplemental Information	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Information	13. Supplemental Information Stock-Based Awards Stock-based compensation recognized for awards authorized under the Company’s employee stock incentive plans during the three and six months ended June 30, 2024 was $6.3 million and $19.1 million, respectively and $12.0 million and $19.4 million during the three and six months ended June 30, 2023, respectively. This was included as a component of stock-based compensation in Office and general expenses and Cost of services within the Unaudited Consolidated Statements of Operations. Certain of the Company’s subsidiaries grant awards to their employees providing them with an equity interest in the respective subsidiary (the “profits interests awards”). The awards generally provide the employee the right, but not the obligation, to sell their profits interest in the subsidiary to the Company based on a performance-based formula and, in certain cases, receive a profit share distribution. The profits interests awards are primarily settled in cash, with certain awards having stock-settlement provisions at the Company’s discretion. The corresponding liability associated with these profits interests awards was $11.8 million and $20.3 million at June 30, 2024 and December 31, 2023, respectively, and is included as a component of Accruals and other liabilities on the Unaudited Consolidated Balance Sheet. The change in the fair value of these awards resulted in a decrease in stock-based compensation for the three and six months ended June 30, 2024 of $2.7 million and $1.0 million, respectively. The change in fair value of these awards resulted in a decrease in stock-based compensation for the three months ended June 30, 2023 of $1.5 million and an increase in stock-based compensation for the six months ended June 30, 2023 of $3.1 million. This was included as a component of stock-based compensation in Cost of services within the Unaudited Consolidated Statements of Operations. Transfer of Accounts Receivable The Company transfers certain of its trade receivable assets to third parties under certain agreements. Per the terms of these agreements, the Company surrenders control over its trade receivables upon transfer. The trade receivables transferred to the third parties were $141.7 million and $101.6 million for the six months ended June 30, 2024 and 2023, respectively. The amount collected and due to the third parties under these arrangements was $2.1 million as of June 30, 2024 and $1.8 million as of December 31, 2023. Fees for these arrangements were recorded in Office and general expenses in the Unaudited Consolidated Statements of Operations and totaled $1.0 million and $1.9 million for the three and six months ended June 30, 2024, respectively, and $0.8 million and $1.8 million for the three and six months ended June 30, 2023, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax Disclosure	14. Income Taxes Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in interim periods. The Company had an income tax expense for the three months ended June 30, 2024 of $1.2 million (on a pre-tax loss of $2.8 million resulting in an effective tax rate of (41.8)% ) compared to income tax expense of $0.4 million (on pre-tax loss of $4.3 million resulting in an effective tax rate of (10.1)% ) for the three months ended June 30, 2023. The difference in the effective tax rate of (41.8)% in the three months ended June 30, 2024, as compared to (10.1)% in the three months ended June 30, 2023, is due to an increase in current losses subject to valuation allowance, a reduction in tax benefit from the disregarded entity structure and tax benefits recognized in 2023 with respect to lease impairments. The Company had an income tax expense for the six months ended June 30, 2024 of $3.8 million (on a pre-tax loss of $1.4 million resulting in an effective tax rate of (263.3)% ) compared to income tax expense of $0.7 million (on pre-tax loss of $6.7 million resulting in an effective tax rate of (10.0)% ) for the six months ended June 30, 2023. The difference in the effective tax rate of (263.3)% in the six months ended June 30, 2024, as compared to (10.0)% in the six months ended June 30, 2023, is primarily due to an increase in current losses subject to valuation allowance, a reduction in tax benefits for share based compensation and tax benefits recognized in 2023 with respect to lease impairments, offset by additions to uncertain tax positions in 2023. The OECD (Organisation for Economic Co-operation and Development) has proposed a global minimum tax of 15% of reported profits (Pillar 2) that has been agreed upon in principle by over 140 countries. During 2023, many countries took steps to incorporate Pillar 2 model rule concepts into their domestic laws. Although the model rules provide a framework for applying the minimum tax, countries may enact Pillar 2 slightly differently than the model rules and on different timelines and may adjust domestic tax incentives in response to Pillar 2. Accordingly, we are still evaluating the potential consequences of Pillar 2 on our longer-term financial position. In 2024, we expect to incur insignificant tax expenses in connection with Pillar 2. Although it is reasonably possible that a change in the balance of unrecognized tax benefits may occur within the next 12 months, based on the information currently available, we do not expect any change to be material to our unaudited consolidated financial statements. Tax Receivables Agreement In connection with the Tax Receivable Agreement (“TRA”), the Company is required to make cash payments to Stagwell Media LP (“Stagwell Media”) equal to 85% of certain U.S. federal, state and local income tax or franchise tax savings, if any, that we actually realize, or in certain circumstances are deemed to realize, as a result of (i) increases in the tax basis of OpCo’s assets resulting from exchanges of Paired Units (defined in Note 11) for shares of Class A Common Stock or cash, as applicable, and (ii) certain other tax benefits related to us making payments under the TRA. The TRA liability is an estimate and actual amounts payable under the TRA could differ from this estimate.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	15. Related Party Transactions In the ordinary course of business, the Company enters into transactions with related parties, including its affiliates. The transactions may range in the nature and value of services underlying the arrangements. The following table presents significant related party transactions where a related party receives services from the Company: Total Transaction Value Revenue Due From Three Months Ended June 30, Six Months Ended June 30, June 30, December 31, Services 2024 2023 2024 2023 (dollars in thousands) Marketing and advertising services (1) $455 $ — $ 444 $ — $ 1,158 $ — $ 1,518 Marketing and advertising services (2) $3,576 and Continuous (7) 831 80 941 186 2,989 4,381 Marketing and website development services (3) $2,657 and Continuous (7) 514 1,133 1,269 1,943 385 694 Polling services (4) $1,986 363 140 823 292 285 160 Polling and public relation services (5) $1,309 194 109 298 166 83 39 Marketing and advertising services (6) $18,000 341 — 341 — 8,000 — Total $ 2,243 $ 1,906 $ 3,672 $ 3,745 $ 11,742 $ 6,792 (1) A member of the Company's Board was the President of a client. This person retired from his position, and is no longer an employee of the client effective January 2, 2024. (2) Brands’ partners and executives either hold a key leadership position in or are on the board of directors of the client. (3) Client has a significant interest in the Company. (4) A family member of the Company’s Chief Executive Officer holds a key leadership position in the client. (5) A family member of the Company’s President holds a key leadership position in the client. (6) Founder of the client has significant interest in the Company. (7) Certain of the contractual arrangements within these transactions were entered into for an indefinite term and are invoiced as services are provided, while others have a fixed definitive contract value. In 2019, a Brand entered into a loan agreement with a related party who holds a minority interest in the Brand. The loan receivable of $0.4 million and $0.8 million due from the third party is included within Other current assets in the Company’s Unaudited Consolidated Balance Sheet as of June 30, 2024 and Consolidated Balance Sheet as of December 31, 2023, respectively. The Company recognized less than $0.1 million of interest income for the three and six months ended June 30, 2024 and June 30, 2023. The interest income was included within Interest expense, net on the Unaudited Consolidated Statements of Operations. In addition, in 2021, the Brand entered into an arrangement to obtain sales and management services from the same third party. Under the arrangement, the Brand has incurred $0.4 million and $0.8 million of related party expense for the three and six months ended June 30, 2024, respectively, and $0.5 million and $0.7 million for the three and six months ended June 30, 2023, respectively. As of June 30, 2024 and December 31, 2023, $0.6 million and $0.6 million, respectively, was due to the third party. In 2018, a Brand entered into an agreement to provide marketing and advertising services to a related party whose partners hold executive leadership positions in the Brand. Under the arrangement, the Brand recognized $0.4 million and $0.6 million of revenue for the three and six months ended June 30, 2024, respectively, and $0.1 million and $0.4 million for the three and six months ended June 30, 2023. No revenue was due from the related party as of June 30, 2024 and December 31, 2023, respectively. In addition, on behalf of the related party, the Brand serves as an agent to transfer funds from one of the related party’s customers to the related party. The Brand does not receive revenue from this arrangement. No funds were due to the related party as of June 30, 2024. As of December 31, 2023, $0.7 million was due to the related party.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	16. Segment Information The Company determines an operating segment if a component (i) engages in business activities from which it earns revenues and incurs expenses, (ii) has discrete financial information, and is (iii) regularly reviewed by the Chief Operating Decision Maker (“CODM”), who is Mark Penn, Chief Executive Officer and Chairman, to make decisions regarding resource allocation for the segment and assess its performance. Once operating segments are identified, the Company performs an analysis to determine if aggregation of operating segments is applicable. This determination is based upon a quantitative analysis of the expected and historic average long-term profitability for each operating segment, together with a qualitative assessment to determine if operating segments have similar operating characteristics. The CODM uses Adjusted EBITDA (defined below) as a key metric, to evaluate the operating and financial performance of a segment, identify trends affecting the segments, develop projections and make strategic business decisions. Adjusted EBITDA is defined as Net income excluding non-operating income or expense to achieve operating income, plus depreciation and amortization, stock-based compensation, deferred acquisition consideration adjustments, and other items. Other items include restructuring costs, acquisition-related expenses, and non-recurring items. The Company made changes to its internal management and reporting structure in the first quarter of 2024, resulting in a change to its reportable segments (Networks). Specifically, certain agencies previously within the Brand Performance Network are now in the Integrated Agencies Network. Periods presented prior to the first quarter of 2024 have been recast to reflect the reclassification of certain reporting units (Brands) between operating segments. The Company has three reportable segments as follows: “Integrated Agencies Network,” “Brand Performance Network” and the “Communications Network.” In addition, the Company combines and discloses operating segments that do not meet the aggregation criteria, and includes the elimination of certain intercompany services, as “All Other.” This segment also includes the elimination of intercompany revenue. The Company also reports corporate expenses, as further detailed below, as “Corporate.” All segments follow the same basis of presentation and accounting policies as those described throughout the Notes included herein. • The Integrated Agencies Network includes five operating segments: the Anomaly Alliance, Constellation, the Doner Partner Network, Code and Theory, and National Research Group. The operating segments offer an array of complementary services spanning our core capabilities of Digital Transformation, Performance Media & Data, Consumer Insights & Strategy, Stagwell Marketing Cloud Group and Creativity & Communications. The Brands included in the operating segments that comprise the Integrated Agencies Network reportable segment are as follows: Anomaly Alliance (Anomaly), Constellation (72andSunny, Crispin LLC, Colle McVoy, Hunter, Instrument, Redscout, Team Enterprises, Harris Insights, Left Field Labs, Movers and Shakers, and Team Epiphany), the Doner Partner Network (Doner, KWT Global, Harris X, Veritas, Doner North, and Yamamoto), Code and Theory, and National Research Group. These operating segments share similar characteristics related to (i) the nature of their services; (ii) the type of clients and the methods used to provide services; and (iii) the extent to which they may be impacted by global economic and geopolitical risks. In addition, these operating segments may occasionally compete with each other for new business or have business move between them. • The Brand Performance Network (“BPN”) is comprised of a single operating segment. BPN includes a unified media and data management structure with omnichannel media placement, creative media consulting, influencer and business-to-business marketing capabilities. Our Brands in this segment aim to provide scaled creative performance through developing and executing sophisticated omnichannel campaign strategies leveraging significant amounts of consumer data. BPN’s Brands provide media solutions such as audience analysis, media planning, and buying across a range of digital and traditional platforms (out-of-home, paid search, social media, lead generation, programmatic, television, broadcast, among others) and includes multichannel Brands Assembly, Brand New Galaxy, Vitro, Forsman & Bodenfors, Goodstuff, Bruce Mau, digital creative & transformation consultancy Gale, B2B specialist Multiview, CX specialists Kenna, and travel media experts Ink. • The Communications Network reportable segment is comprised of a single operating segment, our specialist network that provides advocacy, strategic corporate communications, investor relations, public relations, online fundraising and other services to both corporations and political and advocacy organizations and consists of our Allison brands, SKDK brands, and Targeted Victory brands. • All Other consists of the Company’s digital innovation group and Stagwell Marketing Cloud Group, including Maru and Epicenter, and products such as ARound, PRophet and SmartAssets. • Corporate consists of corporate office expenses incurred in connection with the strategic resources provided to the operating segments, as well as certain other centrally managed expenses that are not fully allocated to the operating segments. These office and general expenses include (i) salaries and related expenses for corporate office employees, including employees dedicated to supporting the operating segments, (ii) occupancy expenses relating to properties occupied by all corporate office employees, (iii) other office and general expenses including professional fees for the financial statement audits and other public company costs, and (iv) certain other professional fees managed by the corporate office. Additional expenses managed by the corporate office that are directly related to the operating segments are allocated to the appropriate reportable segment and the All Other category. Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (dollars in thousands) Revenue: Integrated Agencies Network $ 385,133 $ 365,635 $ 737,852 $ 706,840 Brand Performance Network 177,245 176,733 391,207 378,661 Communications Network 105,570 81,297 199,316 147,756 All Other 3,220 8,600 12,852 21,452 Total Revenue $ 671,168 $ 632,265 $ 1,341,227 $ 1,254,709 Adjusted EBITDA: Integrated Agencies Network $ 67,995 $ 75,106 $ 128,103 $ 134,965 Brand Performance Network 17,706 20,481 45,200 43,429 Communications Network 22,173 14,448 41,557 18,460 All Other (3,149) (2,356) (7,135) (6,161) Corporate (18,622) (16,511) (31,306) (27,303) Total Adjusted EBITDA $ 86,103 $ 91,168 $ 176,419 $ 163,390 Depreciation and amortization $ (42,001) $ (35,488) $ (76,837) $ (68,965) Impairment and other losses (215) (10,562) (1,715) (10,562) Stock-based compensation (5,875) (10,546) (21,991) (22,550) Deferred acquisition consideration (7,236) (392) (7,390) (4,480) Other items, net (8,869) (12,918) (20,725) (19,338) Total Operating Income $ 21,907 $ 21,262 $ 47,761 $ 37,495 Other Income (expenses): Interest expense, net $ (23,533) $ (23,680) $ (44,498) $ (41,869) Foreign exchange, net (1,355) (1,478) (3,613) (2,148) Other, net 193 (416) (1,074) (196) Loss before income taxes and equity in earnings of non-consolidated affiliates (2,788) (4,312) (1,424) (6,718) Income tax expense 1,165 437 3,750 673 Loss before equity in earnings of non-consolidated affiliates (3,953) (4,749) (5,174) (7,391) Equity in income (loss) of non-consolidated affiliates (1) (216) 507 (443) Net loss (3,954) (4,965) (4,667) (7,834) Net loss attributable to noncontrolling and redeemable noncontrolling interests 989 1,771 420 6,029 Net loss attributable to Stagwell Inc. common shareholders $ (2,965) $ (3,194) $ (4,247) $ (1,805) The Company’s long-lived assets (i.e., Right-of-use-lease assets-operating leases and Fixed asset, net) was $313.2 million ($251.3 million in the United States and $61.8 million in all other countries) as of June 30, 2024 and $332.1 million ($268.5 million in the United States and $63.6 million in all other countries) as of December 31, 2023. The Company’s CODM does not use segment assets to allocate resources or to assess performance of the segments and therefore, total segment assets have not been disclosed. See Note 4 of the Notes included herein for a summary of the Company’s revenue by geographic region for the three and six months ended June 30, 2024 and 2023.

Interim Reporting

Interim Reporting	6 Months Ended
	Jun. 30, 2024
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	17. Revision of previously issued Unaudited Consolidated Financial Statements for the second quarter of 2023 The following table presents selected unaudited revised financial information for the three and six months ended June 30, 2023, in connection with the revision detailed in Note 1 included herein. There were no changes to previously issued cash flows generated from (used by) operating, investing, or financing activities for any of the impacted periods. The quarterly interim consolidated balance sheet was only impacted by the effects of the balance sheet adjustments discussed in Note 1 of the Notes included herein. For the three and six months ended June 30, 2023, we have included the line items that were impacted by the correction of errors originally adjusted as out-of-period in the 2023 interim financial statements. The impact of the revision on the previously issued unaudited quarterly financial information is as follows: Unaudited Consolidated Statements of Operations and Unaudited Consolidated Statements of Comprehensive Income (Loss) Three Months Ended June 30, 2023 As reported Adjustment As revised Income tax expense $ 5,717 $ (5,280) $ 437 Loss before equity in earnings of non-consolidated affiliates (10,029) 5,280 (4,749) Net loss (10,245) 5,280 (4,965) Net loss attributable to noncontrolling and redeemable noncontrolling interests 5,552 (3,781) 1,771 Net loss attributable to Stagwell Inc. common shareholders (4,693) 1,499 (3,194) Earnings (Loss) Per Common Share Basic (0.04) 0.01 (0.03) Diluted (0.04) 0.01 (0.03) Other comprehensive income - foreign currency translation adjustment 2,938 7 2,945 Other comprehensive income 2,938 7 2,945 Comprehensive loss for the period (7,307) 5,287 (2,020) Comprehensive (income) loss attributable to the noncontrolling and redeemable noncontrolling interests 2,623 (3,781) (1,158) Comprehensive loss attributable to Stagwell Inc. common shareholders (4,684) 1,506 (3,178) Six Months Ended June 30, 2023 As reported Adjustment As revised Income tax expense $ 8,101 $ (7,428) $ 673 Loss before equity in earnings of non-consolidated affiliates (14,819) 7,428 (7,391) Net loss (15,262) 7,428 (7,834) Net loss attributable to noncontrolling and redeemable noncontrolling interests 11,012 (4,983) 6,029 Net loss attributable to Stagwell Inc. common shareholders (4,250) 2,445 (1,805) Earnings (Loss) Per Common Share Basic (0.04) 0.03 (0.01) Diluted (0.04) 0.03 (0.01) Other comprehensive income - foreign currency translation adjustment 7,363 29 7,392 Other comprehensive income 7,363 29 7,392 Comprehensive loss for the period (7,899) 7,457 (442) Comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests 29,346 (28,468) 878 Comprehensive income attributable to Stagwell Inc. common shareholders 21,447 (21,011) 436

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
New Accounting Pronouncements	2 . New Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures (“ASU 2023-09”), to enhance the transparency and decision usefulness of income tax disclosures by requiring disaggregated information about an entity’s effective tax rate reconciliation, as well as information on taxes paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company is evaluating the impact of the adoption of this guidance on the Company’s financial statements and disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Segment Disclosures (“ASU 2023-07”), to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is evaluating the impact of the new requirements, effective for the Company’s 2024 Financial Statements, to determine the level of disclosure of segment expenses.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The preliminary purchase price allocation is as follows: Amount (dollars in thousands) Cash and cash equivalents $ 1,095 Accounts receivable, net 8,677 Expenditures billable to clients 4,823 Other current assets 402 Right-of-use lease assets 2,788 Fixed assets 184 Identifiable intangible assets 4,316 Accounts payable (1,086) Accruals and other liabilities (664) Advance billings (8,808) Current portion of lease liabilities - operating leases (516) Long-term lease liabilities - operating leases (2,600) Net assets assumed 8,611 Goodwill 7,237 Purchase price consideration $ 15,848
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table presents the details of identifiable intangible assets acquired: Estimated Fair Value Estimated Useful Life in Years (dollars in thousands) Customer relationships $ 3,767 3 Trade names 549 3 Total acquired intangible assets $ 4,316
Business Acquisition, Pro Forma Information	The pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time. Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 (dollars in thousands) Revenue $ 642,126 $ 1,272,964 Net loss $ (3,852) $ (5,973)

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
By Location
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	The following table presents revenue disaggregated by geography for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, Geographical Location Reportable Segment 2024 2023 2024 2023 (dollars in thousands) United States All $ 551,080 $ 513,265 $ 1,114,730 $ 1,031,033 United Kingdom All 40,515 42,805 78,276 75,212 Other All 79,573 76,195 148,221 148,464 $ 671,168 $ 632,265 $ 1,341,227 $ 1,254,709
Principal Capability
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	The following table presents revenue disaggregated by our principal capabilities for the three and six months ended June 30, 2024 and 2023. We reclassified certain brands into the Stagwell Marketing Cloud Group (software-as-a-service and data-as-a-service tools for in-house marketers) principal capability in the third quarter of 2023. All prior periods presented have been revised to reflect these changes. Three Months Ended June 30, Six Months Ended June 30, Principal Capabilities Reportable Segment 2024 2023 2024 2023 (dollars in thousands) Digital Transformation All segments $ 163,472 $ 160,067 $ 359,235 $ 345,582 Creativity and Communications All segments 316,761 291,290 608,414 555,172 Performance Media and Data Integrated Agencies Network and Brand Performance Network 78,411 74,975 155,427 142,949 Consumer Insights and Strategy Integrated Agencies Network 47,717 48,765 93,486 98,020 Stagwell Marketing Cloud Group All segments 64,807 57,168 124,665 112,986 $ 671,168 $ 632,265 $ 1,341,227 $ 1,254,709

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table sets forth the computations of basic and diluted loss per common share for the three and six months ended June 30, 2024 (amounts in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2024 Loss Per Share - Basic and Diluted Numerator: Net loss $ (3,954) $ (4,667) Net loss attributable to Class C shareholders 2,535 3,582 Net income attributable to other equity interest holders (1,546) (3,162) Net loss attributable to noncontrolling and redeemable noncontrolling interests 989 420 Net loss attributable to Stagwell Inc. common shareholders $ (2,965) $ (4,247) Denominator: Weighted average number of common shares outstanding 113,484 113,059 Loss Per Share - Basic and Diluted $ (0.03) $ (0.04) Anti-dilutive: Class C Shares 151,649 151,649 Stock Appreciation Rights and Restricted Awards 4,177 3,641 Class A Shares to settle deferred acquisition obligations 2,810 2,851 Employee Stock Purchase Plan shares 39 39 The following table sets forth the computations of basic and diluted loss per common share for the three months ended June 30, 2023 (amounts in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2023 2023 Loss Per Share - Basic and Diluted Numerator: Net loss $ (4,965) $ (7,834) Net loss attributable to Class C shareholders 771 2,734 Net loss attributable to other equity interest holders 1,000 3,295 Net loss attributable to noncontrolling and redeemable noncontrolling interests $ 1,771 $ 6,029 Net loss attributable to Stagwell Inc. common shareholders $ (3,194) $ (1,805) Denominator: Weighted Average number of common shares outstanding 115,400 120,272 Loss Per Share - Basic and Diluted $ (0.03) $ (0.01) Anti-dilutive: Class C Shares 155,821 158,351 Stock Appreciation Rights and Restricted Awards 4,416 4,736 Class A Shares to settle deferred acquisition obligations 4,719 4,620

Deferred Acquisition Consider_2

Deferred Acquisition Consideration (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Schedule of Changes in Contingent Deferred Acquisition Consideration	The following table presents changes in deferred acquisition consideration for the six months ended June 30, 2024 and the year ended December 31, 2023 and a reconciliation to the amounts reported on the Unaudited Consolidated Balance Sheet as of June 30, 2024 and Consolidated Balance Sheet as of December 31, 2023: June 30, December 31, 2023 (dollars in thousands) Beginning balance $ 101,058 $ 161,323 Payments (1) (45,028) (97,447) Adjustments to deferred acquisition consideration (2) 11,244 14,303 Additions (3) 4,220 22,172 Currency translation adjustment (453) 680 Other — 27 Ending balance (4) $ 71,041 $ 101,058 (1) Includes deferred acquisition consideration payments settled in shares of Class A Common Stock of $18.2 million and $32.8 million, respectively, for the period ended June 30, 2024 and December 31, 2023. (2) Adjustments to deferred acquisition consideration contains fair value changes from the Company’s initial estimates of deferred acquisition payments and accretion of expense as awards are earned over the vesting period. (3) In 2021, the Company entered into an agreement to purchase the remaining 26.7% interest in Targeted Victory it did not previously own. The agreement provided for the purchase of 50% of the interest on October 1, 2021 (paid in October 2023) and 50% on July 31, 2023 (payable in October 2025 with a seller’s right to modify the performance period and defer payment until October 2027). In connection with the purchase, the estimated amount payable in October 2025, was reclassified from redeemable noncontrolling interest to deferred acquisition consideration in 2023. (4)

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Lease Costs and Other Quantitative Information	The following table presents lease costs and other quantitative information for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Lease Cost: (dollars in thousands) Operating lease cost $ 18,702 $ 18,950 $ 39,648 $ 38,528 Variable lease cost 5,889 5,657 11,826 10,218 Sublease rental income (1,935) (2,564) (4,415) (5,616) Total lease cost $ 22,656 $ 22,043 $ 47,059 $ 43,130 Additional information: Cash paid for amounts included in the measurement of lease liabilities for operating leases Operating cash flows $ 22,159 $ 21,925 $ 43,819 $ 44,272 Right-of-use lease assets obtained in exchange for operating lease liabilities and other non-cash adjustments (1) $ 7,171 $ 4,401 $ 13,138 $ 6,536 (1) Includes Right-of-use lease assets obtained in exchange for operating lease liabilities related to acquisitions.
Minimum Future Rental Payments	The following table presents minimum future rental payments under the Company’s leases as of June 30, 2024 and their reconciliation to the corresponding lease liabilities: Maturity Analysis (dollars in thousands) 2024 $ 38,383 2025 72,438 2026 60,464 2027 53,925 2028 50,295 Thereafter 114,627 Total 390,132 Less: Present value discount (63,464) Lease liability $ 326,668

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	As of June 30, 2024 and December 31, 2023, the Company’s indebtedness was comprised as follows: June 30, December 31, (dollars in thousands) Credit Agreement $ 334,000 $ 59,000 5.625% Notes 1,100,000 1,100,000 Debt issuance costs (11,774) (13,172) 5.625% Notes, net of debt issuance costs 1,088,226 1,086,828 Total long-term debt $ 1,422,226 $ 1,145,828

Noncontrolling and Redeemable_2

Noncontrolling and Redeemable Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Noncontrolling Interest	The following table presents Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests between Class C shareholders and other equity interest holders for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (dollars in thousands) Net loss attributable to Class C shareholders $ (2,535) $ (771) $ (3,582) $ (2,734) Net income (loss) attributable to other equity interest holders 773 (29) 1,596 219 Net loss attributable to noncontrolling interests $ (1,762) $ (800) $ (1,986) $ (2,515) Net income (loss) attributable to redeemable noncontrolling interests 773 (971) 1,566 (3,514) Net loss attributable to noncontrolling and redeemable noncontrolling interests $ (989) $ (1,771) $ (420) $ (6,029) The following table presents noncontrolling interests between Class C shareholders and other equity interest holders as of June 30, 2024 and December 31, 2023: June 30, December 31, (dollars in thousands) Noncontrolling interest of Class C shareholders $ 416,814 $ 436,215 Noncontrolling interest of other equity interest holders (1) 21,540 32,362 Total noncontrolling interests $ 438,354 $ 468,577 (1) In January 2024, the Company entered into an agreement to purchase the remaining noncontrolling ownership interest in a subsidiary it previously controlled, the consideration for which was a portion of the subsidiary that was transferred to the noncontrolling interest owner. The non-cash purchase resulted in a reduction of the subsidiary noncontrolling interest by approximately $10 million.
Redeemable Noncontrolling Interest	The following table presents changes in redeemable noncontrolling interests for the six months ended June 30, 2024 and the year ended December 31, 2023: June 30, December 31, (dollars in thousands) Beginning balance $ 10,792 $ 39,111 Redemptions (1) — (22,172) Distributions (1,409) (5,800) Changes in redemption value 135 442 Net income (loss) attributable to redeemable noncontrolling interests 1,566 (634) Other 23 (155) Ending balance $ 11,107 $ 10,792 (1) Redemptions for the year ended December 31, 2023, is associated with redeemable noncontrolling interest of a certain brand we did not previously own. The amount was reclassified as a deferred acquisition contingent obligation (see Note 6).

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Liability Measured on a Non-recurring Basis	The following table presents certain information for our financial liability that is not measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value (dollars in thousands) 5.625% Notes $ 1,100,000 $ 1,017,500 $ 1,100,000 $ 1,010,658

Related Party Disclosures (Tabl

Related Party Disclosures (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table presents significant related party transactions where a related party receives services from the Company: Total Transaction Value Revenue Due From Three Months Ended June 30, Six Months Ended June 30, June 30, December 31, Services 2024 2023 2024 2023 (dollars in thousands) Marketing and advertising services (1) $455 $ — $ 444 $ — $ 1,158 $ — $ 1,518 Marketing and advertising services (2) $3,576 and Continuous (7) 831 80 941 186 2,989 4,381 Marketing and website development services (3) $2,657 and Continuous (7) 514 1,133 1,269 1,943 385 694 Polling services (4) $1,986 363 140 823 292 285 160 Polling and public relation services (5) $1,309 194 109 298 166 83 39 Marketing and advertising services (6) $18,000 341 — 341 — 8,000 — Total $ 2,243 $ 1,906 $ 3,672 $ 3,745 $ 11,742 $ 6,792 (1) A member of the Company's Board was the President of a client. This person retired from his position, and is no longer an employee of the client effective January 2, 2024. (2) Brands’ partners and executives either hold a key leadership position in or are on the board of directors of the client. (3) Client has a significant interest in the Company. (4) A family member of the Company’s Chief Executive Officer holds a key leadership position in the client. (5) A family member of the Company’s President holds a key leadership position in the client. (6) Founder of the client has significant interest in the Company. (7) Certain of the contractual arrangements within these transactions were entered into for an indefinite term and are invoiced as services are provided, while others have a fixed definitive contract value. In 2019, a Brand entered into a loan agreement with a related party who holds a minority interest in the Brand. The loan receivable of $0.4 million and $0.8 million due from the third party is included within Other current assets in the Company’s Unaudited Consolidated Balance Sheet as of June 30, 2024 and Consolidated Balance Sheet as of December 31, 2023, respectively. The Company recognized less than $0.1 million of interest income for the three and six months ended June 30, 2024 and June 30, 2023. The interest income was included within Interest expense, net on the Unaudited Consolidated Statements of Operations. In addition, in 2021, the Brand entered into an arrangement to obtain sales and management services from the same third party. Under the arrangement, the Brand has incurred $0.4 million and $0.8 million of related party expense for the three and six months ended June 30, 2024, respectively, and $0.5 million and $0.7 million for the three and six months ended June 30, 2023, respectively. As of June 30, 2024 and December 31, 2023, $0.6 million and $0.6 million, respectively, was due to the third party.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (dollars in thousands) Revenue: Integrated Agencies Network $ 385,133 $ 365,635 $ 737,852 $ 706,840 Brand Performance Network 177,245 176,733 391,207 378,661 Communications Network 105,570 81,297 199,316 147,756 All Other 3,220 8,600 12,852 21,452 Total Revenue $ 671,168 $ 632,265 $ 1,341,227 $ 1,254,709 Adjusted EBITDA: Integrated Agencies Network $ 67,995 $ 75,106 $ 128,103 $ 134,965 Brand Performance Network 17,706 20,481 45,200 43,429 Communications Network 22,173 14,448 41,557 18,460 All Other (3,149) (2,356) (7,135) (6,161) Corporate (18,622) (16,511) (31,306) (27,303) Total Adjusted EBITDA $ 86,103 $ 91,168 $ 176,419 $ 163,390 Depreciation and amortization $ (42,001) $ (35,488) $ (76,837) $ (68,965) Impairment and other losses (215) (10,562) (1,715) (10,562) Stock-based compensation (5,875) (10,546) (21,991) (22,550) Deferred acquisition consideration (7,236) (392) (7,390) (4,480) Other items, net (8,869) (12,918) (20,725) (19,338) Total Operating Income $ 21,907 $ 21,262 $ 47,761 $ 37,495 Other Income (expenses): Interest expense, net $ (23,533) $ (23,680) $ (44,498) $ (41,869) Foreign exchange, net (1,355) (1,478) (3,613) (2,148) Other, net 193 (416) (1,074) (196) Loss before income taxes and equity in earnings of non-consolidated affiliates (2,788) (4,312) (1,424) (6,718) Income tax expense 1,165 437 3,750 673 Loss before equity in earnings of non-consolidated affiliates (3,953) (4,749) (5,174) (7,391) Equity in income (loss) of non-consolidated affiliates (1) (216) 507 (443) Net loss (3,954) (4,965) (4,667) (7,834) Net loss attributable to noncontrolling and redeemable noncontrolling interests 989 1,771 420 6,029 Net loss attributable to Stagwell Inc. common shareholders $ (2,965) $ (3,194) $ (4,247) $ (1,805)

Interim Reporting (Tables)

Interim Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	The impact of the revision on the previously issued unaudited quarterly financial information is as follows: Unaudited Consolidated Statements of Operations and Unaudited Consolidated Statements of Comprehensive Income (Loss) Three Months Ended June 30, 2023 As reported Adjustment As revised Income tax expense $ 5,717 $ (5,280) $ 437 Loss before equity in earnings of non-consolidated affiliates (10,029) 5,280 (4,749) Net loss (10,245) 5,280 (4,965) Net loss attributable to noncontrolling and redeemable noncontrolling interests 5,552 (3,781) 1,771 Net loss attributable to Stagwell Inc. common shareholders (4,693) 1,499 (3,194) Earnings (Loss) Per Common Share Basic (0.04) 0.01 (0.03) Diluted (0.04) 0.01 (0.03) Other comprehensive income - foreign currency translation adjustment 2,938 7 2,945 Other comprehensive income 2,938 7 2,945 Comprehensive loss for the period (7,307) 5,287 (2,020) Comprehensive (income) loss attributable to the noncontrolling and redeemable noncontrolling interests 2,623 (3,781) (1,158) Comprehensive loss attributable to Stagwell Inc. common shareholders (4,684) 1,506 (3,178) Six Months Ended June 30, 2023 As reported Adjustment As revised Income tax expense $ 8,101 $ (7,428) $ 673 Loss before equity in earnings of non-consolidated affiliates (14,819) 7,428 (7,391) Net loss (15,262) 7,428 (7,834) Net loss attributable to noncontrolling and redeemable noncontrolling interests 11,012 (4,983) 6,029 Net loss attributable to Stagwell Inc. common shareholders (4,250) 2,445 (1,805) Earnings (Loss) Per Common Share Basic (0.04) 0.03 (0.01) Diluted (0.04) 0.03 (0.01) Other comprehensive income - foreign currency translation adjustment 7,363 29 7,392 Other comprehensive income 7,363 29 7,392 Comprehensive loss for the period (7,899) 7,457 (442) Comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests 29,346 (28,468) 878 Comprehensive income attributable to Stagwell Inc. common shareholders 21,447 (21,011) 436

Basis of Presentation and Rec_2

Basis of Presentation and Recent Developments (Details) € in Millions, £ in Millions, R$ in Millions, $ in Millions

3 Months Ended

9 Months Ended

Jul. 19, 2024 USD ($) shares

Apr. 05, 2024 USD ($) shares

Apr. 05, 2024 BRL (R$) shares

Apr. 04, 2024 USD ($)

Apr. 04, 2024 EUR (€)

Mar. 01, 2024 USD ($) shares

Mar. 01, 2024 GBP (£) shares

Jan. 02, 2024 USD ($) shares

Nov. 01, 2023 USD ($) shares

Oct. 02, 2023 USD ($) shares

Jun. 30, 2024 USD ($)

Dec. 31, 2023 USD ($)

Sep. 30, 2023 USD ($)

Sep. 30, 2023

Apr. 05, 2024 BRL (R$)

Apr. 04, 2024 EUR (€)

Mar. 01, 2024 GBP (£)

Business Acquisition [Line Items]

Income Tax Expense Adjustment

$ 10.4

$ 5.3

$ 7.3

Income Tax Expense Adjustment

$ 10.4

$ 5.3

$ 7.3

income tax expense

Business Acquisition [Line Items]

Immaterial Error Correction

2.1 million

Income tax receivable and payable

Business Acquisition [Line Items]

Immaterial Error Correction

12.9 million

Accumulated Other Comprehensive Income (Loss), Net of Tax

Business Acquisition [Line Items]

Immaterial Error Correction

23.5 million

Income tax payable

Business Acquisition [Line Items]

Immaterial Error Correction

2.4 million

Deferred tax asset

Business Acquisition [Line Items]

Immaterial Error Correction

4.5 million

Tax receivable agreement

Business Acquisition [Line Items]

Immaterial Error Correction

2.1 million

Left Field Labs

Business Acquisition [Line Items]

Aggregate purchase price

$ 13.2

Payments to Acquire Businesses, Gross

$ 9.4

Shares issued by the Company (shares) | shares

825,402

Deferred acquisition consideration

$ 51

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 3.8

Movers and Shakers LLC

Business Acquisition [Line Items]

Aggregate purchase price

$ 14.7

Payments to Acquire Businesses, Gross

10.2

Deferred acquisition consideration

35

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 4.5

Movers and Shakers LLC | Common Class A

Business Acquisition [Line Items]

Shares issued by the Company (shares) | shares

1,000,000

Team Epiphany

Business Acquisition [Line Items]

Aggregate purchase price

$ 15.8

Payments to Acquire Businesses, Gross

$ 10.8

Shares issued by the Company (shares) | shares

797,916

Deferred acquisition consideration

$ 17

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 5

Sidekick Live Limited

Business Acquisition [Line Items]

Aggregate purchase price

$ 6

£ 4.6

Payments to Acquire Businesses, Gross

$ 5

£ 3.6

Shares issued by the Company (shares) | shares

195,431

195,431

Deferred acquisition consideration

$ 10

£ 8

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 1

£ 0.9

What's Next Partners

Business Acquisition [Line Items]

Aggregate purchase price

$ 5

€ 4.3

Deferred acquisition consideration

$ 9

€ 8.5

PROS Agency

Business Acquisition [Line Items]

Aggregate purchase price

$ 9

R$ 42.1

Payments to Acquire Businesses, Gross

$ 5

R$ 23.3

Shares issued by the Company (shares) | shares

182,256

182,256

Deferred acquisition consideration

$ 14

R$ 72.5

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 1

R$ 5.3

Leaders | Subsequent event

Business Acquisition [Line Items]

Aggregate purchase price

$ 3.8

Payments to Acquire Businesses, Gross

$ 2.9

Shares issued by the Company (shares) | shares

135,010

Deferred acquisition consideration

$ 6.6

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 0.9

Acquisitions and Dispositions -

Acquisitions and Dispositions - Narrative (Details) $ in Thousands, € in Millions, £ in Millions, R$ in Millions													3 Months Ended		6 Months Ended
	Apr. 05, 2024 USD ($) shares	Apr. 05, 2024 BRL (R$) shares	Apr. 04, 2024 USD ($)	Apr. 04, 2024 EUR (€)	Mar. 01, 2024 USD ($) shares	Mar. 01, 2024 GBP (£) shares	Jan. 02, 2024 USD ($) shares	Nov. 01, 2023 USD ($) shares	Oct. 02, 2023 USD ($) shares	Jul. 03, 2023 USD ($)	Apr. 25, 2023 USD ($)	Apr. 25, 2023 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Apr. 05, 2024 BRL (R$)	Apr. 04, 2024 EUR (€)	Mar. 01, 2024 GBP (£)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill													$ 1,504,650		$ 1,504,650					$ 1,498,815
Revenues													671,168	$ 632,265	1,341,227	$ 1,254,709
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest													(3,954)	(4,965)	(4,667)	(7,834)
Huskies [Member]
Business Acquisition [Line Items]
Aggregate purchase price											$ 6,000	€ 5.2
Goodwill											2,600
Business Combination, Payables to Sellers											$ 1,000	€ 0.9
Tinsel
Business Acquisition [Line Items]
Aggregate purchase price										$ 2,500
Goodwill										$ 1,600
Left Field Labs
Business Acquisition [Line Items]
Aggregate purchase price									$ 13,200
Closing cash payment									9,400
Deferred acquisition consideration									51,000
Goodwill									$ 7,900
Shares issued by the Company (shares) | shares									825,402
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned									$ 3,800
Movers and Shakers LLC
Business Acquisition [Line Items]
Aggregate purchase price								$ 14,700
Closing cash payment								10,200
Deferred acquisition consideration								35,000
Goodwill								8,200
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned								$ 4,500
Movers and Shakers LLC | Common Class A
Business Acquisition [Line Items]
Shares issued by the Company (shares) | shares								1,000,000
Team Epiphany
Business Acquisition [Line Items]
Aggregate purchase price							$ 15,800
Closing cash payment							10,800
Deferred acquisition consideration							$ 17,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life							3 years
Goodwill							$ 7,237
Revenues													10,300		23,700
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net							$ 15,848
Shares issued by the Company (shares) | shares							797,916
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles							$ 4,316
Business Acquisition, Pro Forma Revenue														642,126		1,272,964
Business Acquisition, Pro Forma Net Income (Loss)														$ (3,852)		$ (5,973)
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned							$ 5,000
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest													$ 600		$ 700
Team Epiphany | Customer Relationships
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life							3 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles							$ 3,767
Team Epiphany | Trade Names
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life							3 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles							$ 549
Sidekick Live Limited
Business Acquisition [Line Items]
Aggregate purchase price					$ 6,000	£ 4.6
Closing cash payment					5,000	£ 3.6
Deferred acquisition consideration					10,000														£ 8
Goodwill					$ 2,000
Shares issued by the Company (shares) | shares					195,431	195,431
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned					$ 1,000														£ 0.9
Business Combination, Consideration Transferred, Liabilities Incurred					$ 200	£ 0.1
PROS Agency
Business Acquisition [Line Items]
Aggregate purchase price	$ 9,000	R$ 42.1
Closing cash payment	5,000	R$ 23.3
Deferred acquisition consideration	14,000																R$ 72.5
Goodwill	$ 5,500
Shares issued by the Company (shares) | shares	182,256	182,256
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 1,000																R$ 5.3
What's Next Partners
Business Acquisition [Line Items]
Aggregate purchase price			$ 5,000	€ 4.3
Deferred acquisition consideration			9,000															€ 8.5
Goodwill			$ 5,400

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jan. 02, 2024	Dec. 31, 2023	Apr. 25, 2023
Business Acquisition [Line Items]
Advance billings	$ (8,800)
Goodwill	(1,504,650)		$ (1,498,815)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current, Expenditures Billables	$ 5,500
Huskies [Member]
Business Acquisition [Line Items]
Goodwill				$ (2,600)
Team Epiphany
Business Acquisition [Line Items]
Cash and cash equivalents		$ 1,095
Accounts receivable		8,677
Other current assets		402
Fixed assets		184
Right-of-use lease assets - operating leases		2,788
Identifiable intangible assets		(4,316)
Accounts payable		(1,086)
Accruals and other liabilities		(664)
Advance billings		(8,808)
Current portion of lease liabilities		(516)
Net liabilities assumed		(8,611)
Goodwill		(7,237)
Purchase price consideration		15,848
Long-term portion of lease liabilities		(2,600)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current, Expenditures Billables		$ 4,823

Acquisitions and Dispositions_3

Acquisitions and Dispositions - Intangible Assets Acquired (Details) - Team Epiphany $ in Thousands	Jan. 02, 2024 USD ($)
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 4,316
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Trade Names
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 549
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 3,767
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years

Acquisitions and Dispositions_4

Acquisitions and Dispositions - Pro Forma (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Revenues	$ 671,168	$ 632,265	$ 1,341,227	$ 1,254,709
Team Epiphany
Business Combinations [Abstract]
Business Acquisition, Pro Forma Revenue		642,126		1,272,964
Business Acquisition, Pro Forma Net Income (Loss)		(3,852)		(5,973)
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue		642,126		1,272,964
Business Acquisition, Pro Forma Net Income (Loss)		$ (3,852)		$ (5,973)
Revenues	$ 10,300		$ 23,700

Acquisitions and Dispositions_5

Acquisitions and Dispositions - Disposition (Details) - ConcentricLife - Disposed of by Sale $ in Millions	Oct. 31, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received	$ 245
Other, net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposition of business	$ 94.5

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Millions	Jun. 30, 2024 USD ($) country
Disaggregation of Revenue [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current, Expenditures Billables	$ 5.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Advance Billings	$ 8.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction	1 year
Non-US And UK
Disaggregation of Revenue [Line Items]
Number of countries in which entity operates | country	32

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 671,168	$ 632,265	$ 1,341,227	$ 1,254,709
United States
Disaggregation of Revenue [Line Items]
Revenues	551,080	513,265	1,114,730	1,031,033
Other
Disaggregation of Revenue [Line Items]
Revenues	79,573	76,195	148,221	148,464
UNITED KINGDOM
Disaggregation of Revenue [Line Items]
Revenues	40,515	42,805	78,276	75,212
Digital Transformation
Disaggregation of Revenue [Line Items]
Revenues	163,472	160,067	359,235	345,582
Creativity and Communications
Disaggregation of Revenue [Line Items]
Revenues	316,761	291,290	608,414	555,172
Performance Media and Data
Disaggregation of Revenue [Line Items]
Revenues	78,411	74,975	155,427	142,949
Consumer Insights and Strategy
Disaggregation of Revenue [Line Items]
Revenues	47,717	48,765	93,486	98,020
Stagwell Marketing Cloud Group
Disaggregation of Revenue [Line Items]
Revenues	$ 64,807	$ 57,168	$ 124,665	$ 112,986

Revenue - Contract Assets and L

Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Unbilled service fees	$ 181,700	$ 141,900
Unbilled outside vendor costs, billable to clients	126,144	114,097
Advance billings	320,547	301,674
Increase (Decrease) in Advance Billings	18,900
Contract with Customer, Liability, Revenue Recognized	245,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	88,200
Unbilled service fees	$ 181,700	$ 141,900
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	58%
Expected timing of satisfaction	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	32%
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	10%
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	1%
Expected timing of satisfaction	1 year

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (3,954)	$ (4,965)	$ (4,667)	$ (7,834)
Net Income (Loss) Attributable to Noncontrolling Interest	989	1,771	420	6,029
Net Income (Loss) Attributable to Parent	$ (2,965)	$ (3,194)	$ (4,247)	$ (1,805)
Denominator
Basic weighted average number of common shares outstanding (in shares)	113,484,000	115,400,000	113,059,000	120,272,000
Diluted weighted average number of common shares outstanding (in shares)	113,484,000	115,400,000	113,059,000	120,272,000
Class of Stock [Line Items]
Basic (in dollars per share)	$ (0.03)	$ (0.03)	$ (0.04)	$ (0.01)
Diluted (in dollars per share)	$ 0.03	$ 0.03	$ 0.04	$ 0.01
Antidilutive securities excluded from computation of earnings per share (shares)			4,600,000	3,700,000
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (3,954)	$ (4,965)	$ (4,667)	$ (7,834)
Income attributable to noncontrolling interests	(989)	(1,771)	(420)	(6,029)
Net Income (Loss) Attributable to Parent	$ (2,965)	$ (3,194)	$ (4,247)	$ (1,805)
Weighted Average Number of Shares Outstanding, Basic	113,484,000	115,400,000	113,059,000	120,272,000
Diluted weighted average number of common shares outstanding (in shares)	113,484,000	115,400,000	113,059,000	120,272,000
Stagwell Media
Numerator
Net Income (Loss) Attributable to Noncontrolling Interest	$ (2,535)	$ 771	$ (3,582)	$ 2,734
Class of Stock [Line Items]
Income attributable to noncontrolling interests	2,535	(771)	3,582	(2,734)
Stagwell Global
Numerator
Net Income (Loss) Attributable to Noncontrolling Interest	1,546	1,000	3,162	3,295
Class of Stock [Line Items]
Income attributable to noncontrolling interests	$ (1,546)	$ (1,000)	$ (3,162)	$ (3,295)
Common Class C
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	151,649,000	155,821,000	151,649,000	158,351,000
Stock Appreciation Rights (SARs)
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	4,177,000	4,416,000	3,641,000	4,736,000
Employee Stock
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	39,000		39,000
Stock Appreciation Rights and Restricted Awards
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	2,810,000	4,719,000	2,851,000	4,620,000

Deferred Acquisition Consider_3

Deferred Acquisition Consideration (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jul. 31, 2023	Oct. 01, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance of contingent payments	$ 101,058	$ 101,058	$ 161,323	$ 161,323
Payments		45,028	97,447
Adjustments to deferred acquisition consideration (2)		11,244	14,303
Additions		4,220	22,172
Deferred Policy Acquisition Costs, Foreign Currency Translation Gain (Loss)		(453)	680
Other		0		27
Ending balance of contingent payments		71,041		101,058
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value		71,041		101,058
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases		4,220	22,172
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements		(45,028)	$ (97,447)
Targeted Victory
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired						26.70%
Business Acquisition, Percentage of Voting Interests Acquired, Step One & Two					50%	50%
Contingent Payment
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance of contingent payments	57,500	57,500
Ending balance of contingent payments		69,500		57,500
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value		69,500		57,500
Fixed payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance of contingent payments	43,600	43,600
Ending balance of contingent payments		1,500		43,600
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value		1,500		43,600
Common Class A
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance of contingent payments	29,300	29,300
Payments	(32,800)	(18,200)
Ending balance of contingent payments		16,400		29,300
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value		16,400		$ 29,300
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	$ 32,800	$ 18,200

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) lease	Jun. 30, 2023 USD ($)
Leases [Abstract]
Number of leases not yet commenced | lease	3
Leases not yet commenced, liability	$ 0.7
ROU Lease and LHI, Impairment Loss	$ 1.7	$ 9.2

Leases - Lease Costs and Other

Leases - Lease Costs and Other Quantitative Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 18,702	$ 18,950	$ 39,648	$ 38,528
Variable lease cost	5,889	5,657	11,826	10,218
Sublease rental income	(1,935)	(2,564)	(4,415)	(5,616)
Total lease cost	22,656	22,043	47,059	43,130
Operating cash flows	22,159	21,925	43,819	44,272
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 7,171	$ 4,401	$ 13,138	$ 6,536
Weighted average remaining lease term (in years) - Operating leases	6 years 1 month 6 days		6 years 1 month 6 days
Weighted average discount rate - Operating leases	5.60%		5.60%

Leases - Minimum Future Rental

Leases - Minimum Future Rental Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
2025	$ 38,383
2026	72,438
2027	60,464
2028	53,925
2029	50,295
Thereafter	114,627
Total	390,132
Less: Present value discount	(63,464)
Lease liability	$ 326,668

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Aug. 20, 2021
Debt [Line Items]
Debt issuance costs	$ (11,774)	$ (13,172)
Total long-term debt	1,422,226	1,145,828
Combined Credit Agreement
Debt [Line Items]
Long-term Debt, Gross	334,000	59,000
5.625% Notes | Senior Notes
Debt [Line Items]
Long-term Debt, Gross	1,100,000	1,100,000
Total long-term debt	$ 1,088,226	$ 1,086,828
Interest rate, stated percentage			5.625%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Aug. 20, 2021	Aug. 02, 2021
Debt [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 640		$ 640
Maximum Restricted Payments under Credit Facility	150		150
Interest and Debt Expense
Debt [Line Items]
Interest expense, long-term debt	23.2	$ 22.4	43.5	$ 40.6
Amortization of debt issuance costs	0.7	$ 1.2	1.4	$ 1.8
Secured Debt | Combined Credit Agreement | Revolving Credit Facility
Debt [Line Items]
Long-term debt, term							5 years
Letter of Credit | Combined Credit Agreement | Revolving Credit Facility
Debt [Line Items]
Maximum borrowing capacity	$ 15.5		$ 15.5		$ 16.2
Standby Letters of Credit | Combined Credit Agreement | Revolving Credit Facility
Debt [Line Items]
Maximum borrowing capacity							$ 50
Senior Notes | 5.625% Notes
Debt [Line Items]
Aggregate principal amount						$ 1,100
Interest rate, stated percentage						5.625%

Noncontrolling and Redeemable_3

Noncontrolling and Redeemable Noncontrolling Interests - Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	$ (1,762)	$ (800)	$ 1,986	$ (2,515)
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	773	(971)	1,566	(3,514)	$ 634
Income attributable to noncontrolling interests	(989)	(1,771)	(420)	(6,029)
Nonredeemable Noncontrolling Interest	438,354		438,354		468,577
Stagwell Global
Noncontrolling Interest [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	773	(29)	1,596	219
Income attributable to noncontrolling interests	(1,546)	(1,000)	(3,162)	(3,295)
Nonredeemable Noncontrolling Interest	21,540		21,540		32,362
Stagwell Media
Noncontrolling Interest [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(2,535)	(771)	(3,582)	(2,734)
Income attributable to noncontrolling interests	2,535	$ (771)	3,582	$ (2,734)
Nonredeemable Noncontrolling Interest	$ 416,814		$ 416,814		$ 436,215

Noncontrolling and Redeemable_4

Noncontrolling and Redeemable Noncontrolling Interests - Changes in Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Noncontrolling Interest
Beginning Balance			$ 10,792	$ 39,111	$ 39,111
Redemptions (1)			0		(22,172)
Redeemable noncontrolling interest, Distributions			1,409		5,800
Changes in redemption value			135		442
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	$ (773)	$ 971	(1,566)	3,514	(634)
Other			(23)		(155)
Ending Balance	11,107		11,107		$ 10,792
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(21,074)	(2,984)	(21,074)	(11,009)
Noncontrolling Interest [Member]
Noncontrolling Interest
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	$ (21,074)	$ (2,984)	(21,074)	$ (11,009)
Noncontrolling Interest [Member] | Stag Tech NCI Transactions
Noncontrolling Interest
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders			$ (10,000)

Noncontrolling and Redeemable_5

Noncontrolling and Redeemable Noncontrolling Interests (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	$ 4,469	$ (1,158)	$ 8,182	$ 878
Net Income (Loss) Attributable to Noncontrolling Interest	989	1,771	420	6,029
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	$ 3,500	$ 2,900	$ 7,800	$ (5,200)

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Details Textual) $ in Millions	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 6
2024	9.2
2025	4.1
2026	3
2027	3.1
Thereafter	3.9
Cloud Purchase Obligation, to be Paid, Year One	5.3
Cloud Purchase Obligation, to be Paid, Year Two	6.9
Cloud Purchase Obligation, to be Paid, Year Three	8.7
Cloud Purchase Obligation, to be Paid, Year Four	10.4
Cloud Purchase Obligation, to be Paid, Year Five	12.7
Cloud Purchase Obligation, to be paid, after Year Five	$ 15.3

Share Capital (Details Textual)

Share Capital (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) vote $ / shares shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) vote $ / shares shares	Jun. 30, 2023 USD ($)	Mar. 31, 2024 shares
Share Capital [Line Items]
Stock Repurchased and Retired During Period, Shares			11,800
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $	$ 64,800		$ 64,800
Stock Repurchase Program, Authorized Amount | $	250,000		250,000
ESPP Maximum Eligible Percentage Withheld					15%
Repurchase of Common Stock under Repurchase Program | $			73,700
Stock-based compensation | $	$ 5,875	$ 10,546	$ 21,991	$ 22,550
Stock Repurchased During Period, Per Share | $ / shares	$ 6.24		$ 6.24
The Goldman Sachs Group, Inc.
Share Capital [Line Items]
Stock Repurchased and Retired During Period, Shares			4,000
Repurchase of Common Stock under Repurchase Program | $			$ 25,400
Stock Repurchased During Period, Per Share | $ / shares	$ 6.34		$ 6.34
Common Class A
Share Capital [Line Items]
Common Stock, Shares Authorized	1,000,000		1,000,000
Common Stock, Shares, Issued	112,000		112,000
Common stock, voting rights, number of votes per share | vote	1		1
Employee Stock Ownership Plan (ESOP), Shares in ESOP					2,800
Stock Issued During Period, Shares, Employee Stock Ownership Plan			3,000
Common Class C
Share Capital [Line Items]
Common Stock, Shares Authorized	250,000		250,000
Common Stock, Shares, Outstanding	151,600		151,600

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments not measured at Fair Value on a Recurring Basis (Details) - Senior Notes - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument	$ 1,100,000	$ 1,100,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument	$ 1,017,500	$ 1,010,658

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Fair Value, Inputs, Level 3	Jun. 30, 2024
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability, measurement input	0.086
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability, measurement input	0.099

Supplemental Information (Detai

Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share Capital [Line Items]
Stock-based compensation	$ 5,875	$ 10,546	$ 21,991	$ 22,550
Trade Receivables Collected and Due to Third Party under Receivable Purchase Agreement	2,100		2,100		$ 1,800
Trade Receivable Fees paid to Third Party under Receivable Purchase Agreement	1,000	800	1,900	1,800
Accounts Receivable, Sale			141,700	101,600
Other Awards
Share Capital [Line Items]
Profit interest award liability	11,800		11,800		$ 20,300
Stock Compensation Award
Share Capital [Line Items]
Stock-based compensation	6,300	12,000	19,100	19,400
Profit interest
Share Capital [Line Items]
Stock-based compensation	$ (2,700)	$ (1,500)	$ (1,000)	$ 3,100

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Tax Receivable Agreement, Deferred Tax Asset	$ 29,000		$ 29,000
Tax Receivable Agreement, Deferred Tax Liability	26,700		26,700
Pre-tax income	(2,788)	$ (4,312)	(1,424)	$ (6,718)
Income tax expense (benefit)	$ 1,165	$ 437	$ 3,750	$ 673
Effective Income Tax Rate Reconciliation, Percent	(41.80%)	(10.10%)	(263.30%)	(10.00%)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2023
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties, Fixed Interest Rate		3.50%		3.50%
Revenues	$ 671,168	$ 632,265	$ 1,341,227	$ 1,254,709
Other Assets, Current	105,951		105,951			$ 94,054
Other Liabilities, Noncurrent	56,359		56,359			54,905
Interest and Debt Expense	23,533	23,680	44,498	41,869
Related Party
Related Party Transaction [Line Items]
Revenues	2,243	1,906	3,672	3,745
Other Assets, Current	11,742		11,742			6,792
Affiliated entity | Loan Agreement, Related Party
Related Party Transaction [Line Items]
Other Assets, Current	400		400			800
Interest and Debt Expense	100	100	100	100
Affiliated entity | Marketing and advertising services
Related Party Transaction [Line Items]
Related Party Transaction, Expected Amount of Transactions with Related Party	3,576		3,576
Revenues	831	80	941	186
Other Assets, Current	2,989		2,989			4,381
Affiliated entity | Sales and management services
Related Party Transaction [Line Items]
Operating Expenses	400	500	800	700
Other Liabilities, Noncurrent	600		600			600
Immediate family member of management | Polling Services
Related Party Transaction [Line Items]
Related Party Transaction, Expected Amount of Transactions with Related Party	1,986		1,986
Revenues	363	140	823	292
Other Assets, Current	285		285			160
Employee of Subsidiary
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties, Additions					$ 900
Other Assets, Current	2,700		2,700			2,700
Immediate Family Member of Company's President | Polling and public relation services
Related Party Transaction [Line Items]
Related Party Transaction, Expected Amount of Transactions with Related Party	1,309		1,309
Revenues	194	109	298	166
Other Assets, Current	83		83			39
Director | Marketing and advertising services
Related Party Transaction [Line Items]
Related Party Transaction, Expected Amount of Transactions with Related Party	455		455
Revenues	0	444	0	1,158
Other Assets, Current	0		0			1,518
srt_DirectorMember | Marketing and advertising services
Related Party Transaction [Line Items]
Revenues	400	100	600	400
Other Liabilities, Noncurrent						700
Client Founder | Marketing and advertising services
Related Party Transaction [Line Items]
Related Party Transaction, Expected Amount of Transactions with Related Party	18,000		18,000
Revenues	341	0	341	0
Other Assets, Current	8,000		8,000			0
Stagwell Affiliate | Beneficial owner | Marketing and Website Development Services
Related Party Transaction [Line Items]
Related Party Transaction, Expected Amount of Transactions with Related Party	2,657		2,657
Revenues	514	$ 1,133	1,269	$ 1,943
Other Assets, Current	$ 385		$ 385			$ 694

Segment Information (Details 1)

Segment Information (Details 1) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) reportable_segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | reportable_segment			3
Revenues	$ 671,168	$ 632,265	$ 1,341,227	$ 1,254,709
Adjusted EBITDA	(86,103)	(91,168)	(176,419)	(163,390)
Depreciation, Depletion and Amortization, Nonproduction	(42,001)	(35,488)	(76,837)	(68,965)
Asset Impairment Charges	(215)	(10,562)	(1,715)	(10,562)
Stock-based compensation	(5,875)	(10,546)	(21,991)	(22,550)
Deferred Acquisition Consideration Expense (Income)	(7,236)	(392)	(7,390)	(4,480)
Other items, net	(8,869)	(12,918)	(20,725)	(19,338)
Operating income	21,907	21,262	47,761	37,495
Interest and Debt Expense	(23,533)	(23,680)	(44,498)	(41,869)
Foreign exchange, net	(1,355)	(1,478)	(3,613)	(2,148)
Other Nonoperating Income (Expense)	193	(416)	(1,074)	(196)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(2,788)	(4,312)	(1,424)	(6,718)
Income tax expense	1,165	437	3,750	673
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates	(3,953)	(4,749)	(5,174)	(7,391)
Income (Loss) from Equity Method Investments	(1)	(216)	507	(443)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(3,954)	(4,965)	(4,667)	(7,834)
Net Income (Loss) Attributable to Noncontrolling Interest	989	1,771	420	6,029
Net Income (Loss) Attributable to Parent	(2,965)	(3,194)	(4,247)	(1,805)
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	313,200		313,200		$ 332,100
UNITED STATES
Segment Reporting Information [Line Items]
Revenues	551,080	513,265	1,114,730	1,031,033
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	251,300		251,300		268,500
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	61,800		61,800		$ 63,600
Operating Segments | Integrated Agencies Network
Segment Reporting Information [Line Items]
Revenues	385,133	365,635	737,852	706,840
Adjusted EBITDA	(67,995)	(75,106)	(128,103)	(134,965)
Operating Segments | Brand Performance Network
Segment Reporting Information [Line Items]
Revenues	177,245	176,733	391,207	378,661
Adjusted EBITDA	(17,706)	(20,481)	(45,200)	(43,429)
Operating Segments | Communications Network
Segment Reporting Information [Line Items]
Revenues	105,570	81,297	199,316	147,756
Adjusted EBITDA	(22,173)	(14,448)	(41,557)	(18,460)
Operating Segments | All Other
Segment Reporting Information [Line Items]
Revenues	3,220	8,600	12,852	21,452
Adjusted EBITDA	(3,149)	(2,356)	(7,135)	(6,161)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 18,622	$ 16,511	$ 31,306	$ 27,303

Interim Reporting (Details)

Interim Reporting (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 671,168	$ 632,265	$ 1,341,227	$ 1,254,709
Cost of services	438,912	402,431	883,438	816,329
Income tax expense (benefit)	1,165	437	3,750	673
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates	(3,953)	(4,749)	(5,174)	(7,391)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(3,954)	(4,965)	(4,667)	(7,834)
Income attributable to noncontrolling interests	(989)	(1,771)	(420)	(6,029)
Net Income (Loss) Attributable to Parent	$ (2,965)	$ (3,194)	$ (4,247)	$ (1,805)
Earnings per share, basic	$ (0.03)	$ (0.03)	$ (0.04)	$ (0.01)
Earnings per share, diluted	$ (0.03)	$ (0.03)	$ (0.04)	$ (0.01)
Other comprehensive income (loss) - Foreign currency translation adjustment	$ (5,479)	$ 2,945	$ (12,625)	$ 7,392
Other Comprehensive Income, Other, Net of Tax		2,945		7,392
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(9,433)	(2,020)	(17,292)	(442)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	4,469	(1,158)	8,182	878
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(4,964)	(3,178)	(9,110)	436
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax expense (benefit)	1,165	437	3,750	673
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates	(3,953)	(4,749)	(5,174)	(7,391)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(3,954)	(4,965)	(4,667)	(7,834)
Income attributable to noncontrolling interests	(989)	(1,771)	(420)	(6,029)
Net Income (Loss) Attributable to Parent	$ (2,965)	$ (3,194)	$ (4,247)	$ (1,805)
Earnings per share, basic	$ (0.03)	$ (0.03)	$ (0.04)	$ (0.01)
Earnings per share, diluted	$ (0.03)	$ (0.03)	$ (0.04)	$ (0.01)
Other comprehensive income (loss) - Foreign currency translation adjustment	$ (5,479)	$ 2,945	$ (12,625)	$ 7,392
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(9,433)	(2,020)	(17,292)	(442)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	(4,469)	1,158	(8,182)	(878)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(4,964)	(3,178)	(9,110)	436
Other Comprehensive Income, Other, Net of Tax		2,945		7,392
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(1,762)	(800)	1,986	(2,515)
Other Comprehensive Income (Loss), Net of Tax	5,479	(2,945)	12,625	(7,392)
Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	(2,965)	(3,194)	(4,247)	(1,805)
Noncontrolling Interest [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(989)	(1,771)	(420)	(6,029)
Other Comprehensive Income (Loss), Net of Tax	(3,480)	2,929	(7,762)	5,151
AOCI Attributable to Parent [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other Comprehensive Income (Loss), Net of Tax	$ 1,999	(16)	$ 4,863	(2,241)
Previously Reported
Quarterly Financial Information Disclosure [Abstract]
Income tax expense (benefit)		5,717		8,101
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		(10,029)		(14,819)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		(10,245)		(15,262)
Income attributable to noncontrolling interests		(5,552)		(11,012)
Net Income (Loss) Attributable to Parent		$ (4,693)		$ (4,250)
Earnings per share, basic		$ (0.04)		$ (0.04)
Earnings per share, diluted		$ (0.04)		$ (0.04)
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 2,938		$ 7,363
Other Comprehensive Income, Other, Net of Tax		2,938		7,363
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		7,307		(7,899)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		(2,623)		(29,346)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(4,684)		21,447
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax expense (benefit)		5,717		8,101
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		(10,029)		(14,819)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		(10,245)		(15,262)
Income attributable to noncontrolling interests		(5,552)		(11,012)
Net Income (Loss) Attributable to Parent		$ (4,693)		$ (4,250)
Earnings per share, basic		$ (0.04)		$ (0.04)
Earnings per share, diluted		$ (0.04)		$ (0.04)
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 2,938		$ 7,363
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		7,307		(7,899)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		2,623		29,346
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(4,684)		21,447
Other Comprehensive Income, Other, Net of Tax		2,938		7,363
Restatement Adjustment
Quarterly Financial Information Disclosure [Abstract]
Income tax expense (benefit)		(5,280)		(7,428)
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		5,280		7,428
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		5,280		7,428
Income attributable to noncontrolling interests		3,781		4,983
Net Income (Loss) Attributable to Parent		$ 1,499		$ 2,445
Earnings per share, basic		$ 0.01		$ 0.03
Earnings per share, diluted		$ 0.01		$ 0.03
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 7		$ 29
Other Comprehensive Income, Other, Net of Tax		7		29
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		5,287		7,457
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		(3,781)		(28,468)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		1,506		(21,011)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax expense (benefit)		(5,280)		(7,428)
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		5,280		7,428
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		5,280		7,428
Income attributable to noncontrolling interests		3,781		4,983
Net Income (Loss) Attributable to Parent		$ 1,499		$ 2,445
Earnings per share, basic		$ 0.01		$ 0.03
Earnings per share, diluted		$ 0.01		$ 0.03
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 7		$ 29
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		5,287		7,457
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		3,781		28,468
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		1,506		(21,011)
Other Comprehensive Income, Other, Net of Tax		$ 7		$ 29