Stagwell (STGW) 10-Q2 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 29, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 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	Q1
Amendment Flag	false
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		117,581,272
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
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Revenues	$ 670,059	$ 622,444
Operating expenses:
Cost of services	444,526	413,898
Office and general expenses	163,343	158,836
Depreciation and amortization	34,836	33,477
Impairment and other losses	1,500	0
Costs and Expenses, Total	644,205	606,211
Operating Income (Loss), Total	25,854	16,233
Other income (expense):
Interest expense, net	(20,965)	(18,189)
Foreign exchange, net	(2,258)	(670)
Other, net	(1,267)	220
Nonoperating Income (Expense), Total	(24,490)	(18,639)
Income (loss) before income taxes and equity in earnings of non-consolidated affiliates	1,364	(2,406)
Income tax expense	2,585	236
Loss before equity in earnings of non-consolidated affiliates	(1,221)	(2,642)
Equity in income (loss) of non-consolidated affiliates	508	(227)
Net loss	(713)	(2,869)
Net (income) loss attributable to noncontrolling and redeemable noncontrolling interests	(569)	4,258
Net income (loss) attributable to Stagwell Inc. common shareholders	$ (1,282)	$ 1,389
Earnings Per Share [Abstract]
Earnings per share, basic	$ (0.01)	$ 0.01
Earnings per share, diluted	$ (0.01)	$ 0
Weighted Average Number Of Shares Outstanding For Basic and Diluted [Abstract]
Weighted Average Number of Shares Outstanding, Basic	112,633	125,199
Weighted Average Number of Shares Outstanding, Diluted	116,405	289,806

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Comprehensive income (loss)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (713)	$ (2,869)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income (loss) - Foreign currency translation adjustment	(7,146)	4,447
Comprehensive income (loss) for the period	(7,859)	1,578
Comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests	3,713	2,036
Comprehensive income (loss) attributable to Stagwell Inc. common shareholders	$ (4,146)	$ 3,614

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 129,824	$ 119,737
Accounts receivable, net	744,287	697,178
Expenditures billable to clients	111,721	114,097
Other current assets	119,215	94,054
Total Current Assets	1,105,047	1,025,066
Fixed assets, net	77,215	77,825
Operating Lease, Right-of-Use Asset	241,709	254,278
Goodwill	1,495,313	1,498,815
Other intangible assets, net	800,691	818,220
Other assets	95,144	92,843
Total Assets	3,815,119	3,767,047
Current Liabilities
Accounts payable	437,021	414,980
Accrued media	270,491	291,777
Accruals and other liabilities	194,967	233,046
Advance billings	302,484	301,674
Current portion of lease liabilities - operating leases	64,039	65,899
Current portion of deferred acquisition consideration	64,907	66,953
Total Current Liabilities	1,333,909	1,374,329
Long-term debt	1,269,527	1,145,828
Long-term portion of deferred acquisition consideration	35,897	34,105
Long-term lease liabilities - operating leases	271,380	281,307
Deferred tax liabilities, net	38,856	40,509
Other liabilities	56,655	54,905
Total Liabilities	3,006,224	2,930,983
Redeemable Noncontrolling Interests	11,305	10,792
Commitments and Contingencies
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Paid-in capital	333,896	348,494
Retained earnings	19,618	21,148
Accumulated other comprehensive loss	(15,931)	(13,067)
Stagwell Inc. Shareholders’ Equity	337,700	356,695
Noncontrolling interests	459,890	468,577
Total Shareholders’ Equity	797,590	825,272
Liabilities and Equity, Total	3,815,119	3,767,047
Common Class A and Common Class B
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Common shares	115	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	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (713)	$ (2,869)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Stock-based compensation	16,116	12,004
Depreciation and amortization	34,836	33,477
Operating Lease, Right-of-Use Asset, Amortization Expense	20,912	19,520
Impairment and other losses	1,500	0
Deferred income taxes	(655)	(714)
Adjustment To Deferred Acquisition Consideration	154	4,088
Other, net	292	(1,527)
Changes in working capital:
Accounts receivable	(42,976)	(12,425)
Expenditures billable to clients	6,681	(4,173)
Other assets	(19,584)	(5,986)
Accounts payable	22,206	(48,841)
Accrued expenses and other liabilities	(63,856)	(52,334)
Advance billings	(6,124)	(2,986)
Increase (Decrease) in Operating Lease Liability	(21,660)	(22,347)
Deferred acquisition related payments	(250)	0
Net Cash Provided by (Used in) Operating Activities, Total	(53,121)	(85,113)
Cash flows from investing activities:
Capital expenditures	(5,439)	(3,435)
Acquisitions, net of cash acquired	(11,673)	(220)
Capitalized software	(8,794)	(6,735)
Other	(218)	(425)
Net Cash Provided by (Used in) Investing Activities, Total	(26,124)	(10,815)
Cash flows from financing activities:
Repayment of borrowings under revolving credit facility	(417,000)	(426,500)
Proceeds from borrowings under revolving credit facility	540,000	476,500
Shares repurchased and cancelled	(29,698)	(26,129)
Distributions to noncontrolling interests	(559)	(10,948)
Payment of deferred consideration	(1,657)	0
Net Cash Provided by (Used in) Financing Activities, Total	91,086	12,923
Effect of exchange rate changes on cash and cash equivalents	(1,754)	945
Net increase (decrease) in cash and cash equivalents	10,087	(82,060)
Cash and cash equivalents at beginning of period	119,737	220,589
Cash and cash equivalents at end of period	129,824	138,529
Supplemental Cash Flow Information:
Cash income taxes paid	8,535	15,107
Cash interest paid	35,253	$ 33,459
Non-cash investing and financing activities:
Acquisitions of business	6,139
Noncash or Part Noncash Acquisition, Noncontrolling Interest Acquired	10,167
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued	$ 341

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Common Class A & B	Stagwell Inc. Shareholders' Equity	Common Shares Common Class A & B	Common Shares Class C	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
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	1,389
Net income (loss)	1,389		1,389				1,389
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(1,715)								(4,258)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(2,869)
Other Comprehensive Income (Loss), Net of Tax	(4,447)		(2,225)					(2,225)	2,222
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,578)		(3,614)				(1,389)	(2,225)	(2,036)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(8,025)								(8,025)
Stockholders Equity, Increase (Decrease) Form Change In Redemption Value Of Noncontrolling Interest, Value	(1,076)		(1,076)				(1,076)
Restricted Awards Granted or Vested (in shares)		1,838,000
Stock Issued During Period, Value, Restricted Stock Award, Gross				$ (2)		(2)
Shares acquired and cancelled (in shares)				(3,766,000)
Stock Repurchased and Retired During Period, Value	(26,129)		(26,129)	$ (4)		(26,125)
Stock-based compensation	7,392		7,392			7,392
Stock Issued During Period, Value, Conversion of Units			3,273			3,273			(3,273)
Other	(577)		(640)				(640)		(1,217)
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]
Income attributable to noncontrolling interests	(4,258)
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss) Attributable to Parent	(1,282)
Net income (loss)			(1,282)				(1,282)
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	224								569
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(713)
Other Comprehensive Income (Loss), Net of Tax	7,146		2,864					2,864	(4,282)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	7,859		4,146				1,282	2,864	(3,713)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders									(10,226)
Reduction of noncontrolling and redeemable noncontrolling interest	8,482		(1,744)			(1,744)
Changes in redemption value	(250)
Stockholders Equity, Increase (Decrease) Form Change In Redemption Value Of Noncontrolling Interest, Value	250		250				250
Restricted Awards Granted or Vested (in shares)				151,000
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited				18,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ (254)		(254)	$ 0		254
Shares acquired and cancelled (in shares)	(4,000,000)			(4,828,000)
Stock Repurchased and Retired During Period, Value	$ (30,586)		(30,586)	$ (5)		(30,581)
Stock-based compensation	13,550		13,550			13,550
Change in ownership held by Class C holders	0		6,047			(6,047)			6,047
Stock Issued During Period, Value, Acquisitions	6,139		6,139	$ 1		6,138
Stock Issued During Period, Shares, Acquisitions				993,000
Other, Shares				52,000
Other	(448)		347	$ (1)		344	2		(795)
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]
Income attributable to noncontrolling interests	$ 569

Basis of Presentation and Recen

Basis of Presentation and Recent Developments	3 Months Ended
Basis of Presentation and Recent Developments	Mar. 31, 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 first 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 April 3, 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, par value $0.001 per share (the “Class A Common Stock”), at the Company’s discretion. On April 5, 2024, the Company acquired PROS Agency (“PROS”), for 26.5 million Brazilian reals (“R$”) (approximately $5 million) of which R$21.2 million (approximately $4 million) was paid in cash and R$5.3 million (approximately $1 million) in 182,256 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 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 Class A Common Stock at the Company’s discretion.

Acquisitions and Dispositions

Acquisitions and Dispositions	3 Months Ended
Acquisitions and Dispositions	Mar. 31, 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”), 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 income (loss) for the three months ended March 31, 2024 would not be materially different from the actual revenue and net income (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 March 31, 2023 (dollars in thousands) Revenue $ 630,838 Net loss $ (2,121) Revenue and Net income attributable to Epiphany, included within the Unaudited Consolidated Statements of Operations for the three months ended March 31, 2024 was $13.4 million and less than $0.1 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 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 $8.0 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. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On April 25, 2023, the Company acquired Huskies, Ltd. (“Huskies”), for €5.2 million (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. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. 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 and a reconciliation to the amounts reported on the Unaudited Consolidated Balance Sheet as of March 31, 2024 and Consolidated Balance Sheet as of December 31, 2023: March 31, December 31, 2023 (dollars in thousands) Beginning balance $ 101,058 $ 161,323 Payments (1) (1,907) (97,447) Adjustments to deferred acquisition consideration (2) 1,796 14,303 Additions (3) — 22,172 Currency translation adjustment (142) 680 Other (1) 27 Ending balance (4) $ 100,804 $ 101,058 (1) Includes deferred acquisition consideration payments settled in shares of Class A Common Stock of $32.8 million for the period ended 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 defer 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	3 Months Ended
Revenue	Mar. 31, 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 months ended March 31, 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 March 31, Principal Capabilities Reportable Segment 2024 2023 (dollars in thousands) Digital Transformation All segments $ 195,763 $ 185,515 Creativity and Communications All segments 291,653 263,882 Performance Media and Data Brand Performance Network 77,016 67,974 Consumer Insights and Strategy Integrated Agencies Network 45,769 49,255 Stagwell Marketing Cloud Group All segments 59,858 55,818 $ 670,059 $ 622,444 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 months ended March 31, 2024 and 2023: Three Months Ended March 31, Geographical Location Reportable Segment 2024 2023 (dollars in thousands) United States All $ 561,317 $ 514,828 United Kingdom All 37,761 33,133 Other All 70,981 74,483 $ 670,059 $ 622,444 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 $186.6 million and $141.9 million as of March 31, 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 $111.7 million and $114.1 million as of March 31, 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 March 31, 2024 and December 31, 2023 were $302.5 million and $301.7 million, respectively. The increase in Advance billings of $0.8 million for the three months ended March 31, 2024 was primarily driven by $185.8 million of revenue recognized that was included in the Advance billings balances as of December 31, 2023, the incurrence of third-party costs, offset by 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 three months ended March 31, 2024 were not materially impacted by write offs, impairment losses or any other factors. Unsatisfied Performance Obligations The majority of our contracts are for periods of one year or less. For those contracts with a term of more than one year, we had $93.4 million of unsatisfied performance obligations as of March 31, 2024 of which we expect to recognize approximately 76% in 2024, 23% in 2025 and 1% in 2026.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	5. Earnings (Loss) Per Share The following table set forth the computations of basic and diluted loss per common share for the three months ended March 31, 2024 (amounts in thousands, except per share amounts): Three Months Ended March 31, 2024 Loss Per Share - Basic Numerator: Net loss $ (713) Net loss attributable to Class C shareholders 1,047 Net income attributable to other equity interest holders (1,616) Net income attributable to noncontrolling and redeemable noncontrolling interests (569) Net loss attributable to Stagwell Inc. common shareholders $ (1,282) Denominator: Weighted average number of common shares outstanding 112,633 Loss Per Share - Basic $ (0.01) Loss Per Share - Diluted Numerator: Net loss attributable to Stagwell Inc. common shareholders $ (1,282) Adjustment to net loss: Fair value adjustment for deferred acquisition obligations (net of income tax expense) (224) $ (1,506) Denominator: Basic - Weighted Average number of common shares outstanding 112,633 Dilutive shares: Class A Shares to settle deferred acquisition obligations 3,772 Dilutive - Weighted average number of common shares outstanding 116,405 Loss Per Share - Diluted $ (0.01) Anti-dilutive: Class C Shares 151,649 Stock Appreciation Rights and Restricted Awards 4,531 Employee Stock Purchase Plan shares 49 The following table sets forth the computations of basic and diluted earnings per common share for the three months ended March 31, 2023: Three Months Ended March 31, 2023 Earnings Per Share - Basic (amounts in thousands, except per share amounts) Numerator: Net loss $ (2,869) Net loss attributable to Class C shareholders 1,963 Net loss attributable to other equity interest holders 2,295 Net loss attributable to noncontrolling and redeemable noncontrolling interests $ 4,258 Net income attributable to Stagwell Inc. common shareholders $ 1,389 Denominator: Weighted Average number of common shares outstanding 125,199 Earnings Per Share - Basic $ 0.01 Earnings Per Share - Diluted Numerator: Net income attributable to Stagwell Inc. common shareholders $ 1,389 Net loss attributable to Class C shareholders (1,963) $ (574) Denominator: Basic - Weighted Average number of common shares outstanding 125,199 Dilutive shares: Stock appreciation right awards 1,929 Restricted share and restricted unit awards 1,769 Class C Shares 160,909 Dilutive - Weighted average number of common shares outstanding 289,806 Earnings Per Share - Diluted $ — Restricted stock awards of 4.6 million and 0.7 million as of March 31, 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	3 Months Ended
Deferred Acquisition Consideration	Mar. 31, 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”), 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 income (loss) for the three months ended March 31, 2024 would not be materially different from the actual revenue and net income (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 March 31, 2023 (dollars in thousands) Revenue $ 630,838 Net loss $ (2,121) Revenue and Net income attributable to Epiphany, included within the Unaudited Consolidated Statements of Operations for the three months ended March 31, 2024 was $13.4 million and less than $0.1 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 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 $8.0 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. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. On April 25, 2023, the Company acquired Huskies, Ltd. (“Huskies”), for €5.2 million (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. The purchase price accounting is not yet final as the Company may still make adjustments due to changes in post-closing adjustments. 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 and a reconciliation to the amounts reported on the Unaudited Consolidated Balance Sheet as of March 31, 2024 and Consolidated Balance Sheet as of December 31, 2023: March 31, December 31, 2023 (dollars in thousands) Beginning balance $ 101,058 $ 161,323 Payments (1) (1,907) (97,447) Adjustments to deferred acquisition consideration (2) 1,796 14,303 Additions (3) — 22,172 Currency translation adjustment (142) 680 Other (1) 27 Ending balance (4) $ 100,804 $ 101,058 (1) Includes deferred acquisition consideration payments settled in shares of Class A Common Stock of $32.8 million for the period ended 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 defer 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	3 Months Ended
Leases	Mar. 31, 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 March 31, 2024, the Company entered into two operating leases for which the commencement date has not yet occurred primarily because of the premises being prepared for occupancy by the landlord. Accordingly, these two leases represent an obligation of the Company that is not reflected within the Unaudited Consolidated Balance Sheet as of March 31, 2024. The aggregate future liability related to these leases is $2.9 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 months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Lease Cost: (dollars in thousands) Operating lease cost $ 20,946 $ 19,578 Variable lease cost 5,937 4,561 Sublease rental income (2,480) (3,052) Total lease cost $ 24,403 $ 21,087 Additional information: Cash paid for amounts included in the measurement of lease liabilities for operating leases Operating cash flows $ 21,660 $ 22,347 Right-of-use lease assets obtained in exchange for operating lease liabilities and other non-cash adjustments (1) $ 5,967 $ 2,135 (1) Includes Right-of-use lease assets obtained in exchange for operating lease liabilities related to acquisitions. As of March 31, 2024, the weighted average remaining lease term was 6.3 years and the weighted average discount rate was 5.5%. 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 three months ended March 31, 2024, the company ceased using certain office space and as such recognized a charge of $1.5 million to reduce the carrying value of one of its right-of-use lease assets and related leasehold improvements. The right-of-use lease assets and related leasehold improvements related to an agency 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 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 March 31, 2024 and their reconciliation to the corresponding lease liabilities: Maturity Analysis (dollars in thousands) 2024 $ 57,800 2025 69,480 2026 58,473 2027 52,943 2028 49,738 Thereafter 113,932 Total 402,366 Less: Present value discount (66,947) Lease liability $ 335,419

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	8. Debt As of March 31, 2024 and December 31, 2023, the Company’s indebtedness was comprised as follows: March 31, December 31, (dollars in thousands) Credit Agreement $ 182,000 $ 59,000 5.625% Notes 1,100,000 1,100,000 Debt issuance costs (12,473) (13,172) 5.625% Notes, net of debt issuance costs 1,087,527 1,086,828 Total long-term debt $ 1,269,527 $ 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 months ended March 31, 2024 and 2023, was $20.4 million and $18.3 million, respectively. The amortization of debt issuance costs included in Interest expense, net on the Unaudited Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 was $0.7 million and $0.6 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 March 31, 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 March 31, 2024 and December 31, 2023, the Company had issued undrawn outstanding letters of credit of $15.8 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 March 31, 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 March 31, 2024.

Noncontrolling and Redeemable N

Noncontrolling and Redeemable Noncontrolling Interests	3 Months Ended
Noncontrolling and Redeemable Noncontrolling Interests	Mar. 31, 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 months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 (dollars in thousands) Net loss attributable to Class C shareholders $ (1,047) $ (1,963) Net income attributable to other equity interest holders 823 248 Net loss attributable to noncontrolling interests (224) (1,715) Net income (loss) attributable to redeemable noncontrolling interests 793 (2,543) Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests $ 569 $ (4,258) The following table presents noncontrolling interests between Class C shareholders and other equity interest holders as of March 31, 2024 and December 31, 2023: March 31, December 31, (dollars in thousands) Noncontrolling interest of Class C shareholders $ 436,899 $ 436,215 Noncontrolling interest of other equity interest holders (1) 22,991 32,362 Total noncontrolling interests $ 459,890 $ 468,577 (1) In January 2024, the Company entered into an agreement to purchase the remaining 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: March 31, December 31, (dollars in thousands) Beginning balance $ 10,792 $ 39,111 Redemptions (1) — (22,172) Distributions (559) (5,800) Changes in redemption value 250 442 Net income (loss) attributable to redeemable noncontrolling interests 793 (634) Other 29 (155) Ending balance $ 11,305 $ 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. The redeemable noncontrolling interest of $11.3 million as of March 31, 2024, consists of $7.8 million, assuming that the subsidiaries meet certain performance metrics, and $3.5 million upon termination of such owner’s employment with the applicable subsidiary or death. 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 months ended March 31, 2024 and 2023. Comprehensive Income (Loss) Attributable to Noncontrolling and Redeemable Noncontrolling Interests For the three months ended March 31, 2024, comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests was $3.7 million, which consists of $0.6 million of net income and $4.3 million of other comprehensive loss. For the three months ended March 31, 2023, comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests was $2.0 million, which consists of $4.3 million of net loss and $2.2 million of other comprehensive income.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	3 Months Ended
Commitments, Contingencies and Guarantees	Mar. 31, 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 March 31, 2024, the Company had $15.8 million of undrawn letters of credit outstanding. See Note 8 of the Notes included herein for additional information. The Company entered into two operating leases for which the commencement date has not yet occurred as of March 31, 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 March 31, 2024, the Company estimates its future minimum commitments under these non-cancellable agreements to be: $5.2 million for the remainder of 2024, and $6.9 million, $4.2 million, $3.0 million, $3.1 million and $3.8 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 March 31, 2024, the Company estimates its future minimum commitments under this agreement to be: $5.5 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	3 Months Ended
Share Capital	Mar. 31, 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 114.8 million shares were issued and outstanding as of March 31, 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 March 31, 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 OpCo (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 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 three months ended March 31, 2024, 4.0 million shares of Class A Common Stock were repurchased pursuant to the Repurchase Program at an aggregate value, excluding fees, of $24.6 million. These shares were repurchased at an average price of $6.11 per share. The remaining value of shares of Class A Common Stock permitted to be repurchased under the Repurchase Program was $114.0 million as of March 31, 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 2.9 million as of March 31, 2024.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value (dollars in thousands) 5.625% Notes $ 1,100,000 $ 1,002,496 $ 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 March 31, 2024, the discount rate used to measure these liabilities ranged from 9.1% 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 March 31, 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	3 Months Ended
Supplemental Information	Mar. 31, 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 months ended March 31, 2024 and 2023 was $12.8 million and $7.4 million, 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 $19.8 million and $20.3 million at March 31, 2024 and December 31, 2023, respectively, and is included as a component of Accruals and other liabilities and Other liabilities on the Unaudited Consolidated Balance Sheet. Stock-based compensation recognized for these awards was $1.7 million and $4.6 million for the three months ended March 31, 2024 and 2023, respectively. 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 $69.8 million and $56.2 million for the three months ended March 31, 2024 and 2023, respectively. The amount collected and due to the third parties under these arrangements was $3.7 million as of March 31, 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 $0.9 million and $1.0 million for the three months ended March 31, 2024 and 2023, respectively.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 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 March 31, 2024 of $2.6 million (on a pre-tax income of $1.4 million resulting in an effective tax rate of 189.5%) compared to income tax expense of $0.2 million (on pre-tax loss of $2.4 million resulting in an effective tax rate of (9.8)%) for the three months ended March 31, 2023. The difference in the effective tax rate of 189.5% in the three months ended March 31, 2024, as compared to (9.8)% in the three months ended March 31, 2023, is due to the change in the pretax income, a reduction in benefit from the disregarded entity structure, and an increase in non-deductible share-based compensation, offset by uncertain tax positions added 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	3 Months Ended
Related Party Transactions	Mar. 31, 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 March 31, March 31, December 31, Services 2024 2023 (dollars in thousands) Marketing and advertising services (1) $455 and Continuous (6) $ — $ 694 $ — $ 1,518 Marketing and advertising services (2) $3,576 and Continuous (6) 110 106 3,050 4,381 Marketing and website development services (3) $1,963 and Continuous (6) 755 778 146 694 Polling services (4) $2,636 460 89 644 160 Polling services (5) $1,039 104 39 88 39 Total $ 1,429 $ 1,706 $ 3,928 $ 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) 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 March 31, 2024 and Consolidated Balance Sheet as of December 31, 2023, respectively. The Company recognized less than $0.1 million and less than $0.1 million for the three months ended March 31, 2024 and 2023, respectively, of interest income within Interest expense, net on its 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 $0.2 million of related party expense for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 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 $0.2 million and $0.3 million of revenue for the three months ended March 31, 2024 and 2023, respectively. No revenue was due from the related party as of March 31, 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 March 31, 2024. As of December 31, 2023, $0.7 million was due to the related party.

Segment Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 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, 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 March 31, 2024 2023 (dollars in thousands) Revenue: Integrated Agencies Network $ 352,719 $ 341,205 Brand Performance Network 213,962 201,928 Communications Network 93,746 66,459 All Other 9,632 12,852 Total Revenue $ 670,059 $ 622,444 Adjusted EBITDA: Integrated Agencies Network $ 60,108 $ 59,859 Brand Performance Network 27,494 22,948 Communications Network 19,384 4,012 All Other (3,986) (3,805) Corporate (12,684) (10,792) Total Adjusted EBITDA $ 90,316 $ 72,222 Depreciation and amortization $ (34,836) $ (33,477) Impairment and other losses (1,500) — Stock-based compensation (16,116) (12,004) Deferred acquisition consideration (154) (4,088) Other items, net (11,856) (6,420) Total Operating Income $ 25,854 $ 16,233 Other Income (expenses): Interest expense, net $ (20,965) $ (18,189) Foreign exchange, net (2,258) (670) Other, net (1,267) 220 Income (loss) before income taxes and equity in earnings of non-consolidated affiliates 1,364 (2,406) Income tax expense 2,585 236 Loss before equity in earnings of non-consolidated affiliates (1,221) (2,642) Equity in income (loss) of non-consolidated affiliates 508 (227) Net loss (713) (2,869) Net (income) loss attributable to noncontrolling and redeemable noncontrolling interests (569) 4,258 Net income (loss) attributable to Stagwell Inc. common shareholders $ (1,282) $ 1,389 The Company’s long-lived assets (i.e., Right-of-use-lease assets-operating leases and Fixed asset, net) was $318.9 million ($260.4 million in the United States and $58.5 million in all other countries) as of March 31, 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 months ended March 31, 2024 and 2023.

Interim Reporting

Interim Reporting	3 Months Ended
Interim Reporting	Mar. 31, 2024
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	17. Revision of previously issued Unaudited Consolidated Financial Statements for the first quarter of 2023 The following table presents selected unaudited revised financial information for the three months ended March 31, 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 months ended March 31, 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 March 31, 2023 As reported Adjustment As revised Income tax expense $ 2,384 $ (2,148) $ 236 Loss before equity in earnings of non-consolidated affiliates (4,790) 2,148 (2,642) Net loss (5,017) 2,148 (2,869) Net loss attributable to noncontrolling and redeemable noncontrolling interests 5,460 (1,202) 4,258 Net income attributable to Stagwell Inc. common shareholders 443 946 1,389 Earnings (Loss) Per Common Share Basic 0.00 0.01 0.01 Diluted (0.01) 0.01 0.00 Other comprehensive income - foreign currency translation adjustment 4,425 22 4,447 Other comprehensive income 4,425 22 4,447 Comprehensive income (loss) for the period (592) 2,170 1,578 Comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests 26,723 (24,687) 2,036 Comprehensive income attributable to Stagwell Inc. common shareholders 26,131 (22,517) 3,614 Unaudited Consolidated Statements of Shareholders' Equity Three Months Ended March 31, 2023 As reported Adjustment As revised Net income attributable to Stagwell Inc. common shareholders $ 443 $ 946 $ 1,389 Net income (loss) attributable to Noncontrolling Interests (2,917) 1,202 (1,715) Other comprehensive income 25,688 (23,463) 2,225 Other comprehensive income (loss) attributable to Noncontrolling Interests (21,263) 23,485 2,222 Total other comprehensive income $ 4,425 $ 22 $ 4,447

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 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)	3 Months Ended
Acquisitions and Dispositions (Tables)	Mar. 31, 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 March 31, 2023 (dollars in thousands) Revenue $ 630,838 Net loss $ (2,121)

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Mar. 31, 2024
By Location
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	The following table presents revenue disaggregated by geography for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, Geographical Location Reportable Segment 2024 2023 (dollars in thousands) United States All $ 561,317 $ 514,828 United Kingdom All 37,761 33,133 Other All 70,981 74,483 $ 670,059 $ 622,444
Principal Capability
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	The following table presents revenue disaggregated by our principal capabilities for the three months ended March 31, 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 March 31, Principal Capabilities Reportable Segment 2024 2023 (dollars in thousands) Digital Transformation All segments $ 195,763 $ 185,515 Creativity and Communications All segments 291,653 263,882 Performance Media and Data Brand Performance Network 77,016 67,974 Consumer Insights and Strategy Integrated Agencies Network 45,769 49,255 Stagwell Marketing Cloud Group All segments 59,858 55,818 $ 670,059 $ 622,444

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table set forth the computations of basic and diluted loss per common share for the three months ended March 31, 2024 (amounts in thousands, except per share amounts): Three Months Ended March 31, 2024 Loss Per Share - Basic Numerator: Net loss $ (713) Net loss attributable to Class C shareholders 1,047 Net income attributable to other equity interest holders (1,616) Net income attributable to noncontrolling and redeemable noncontrolling interests (569) Net loss attributable to Stagwell Inc. common shareholders $ (1,282) Denominator: Weighted average number of common shares outstanding 112,633 Loss Per Share - Basic $ (0.01) Loss Per Share - Diluted Numerator: Net loss attributable to Stagwell Inc. common shareholders $ (1,282) Adjustment to net loss: Fair value adjustment for deferred acquisition obligations (net of income tax expense) (224) $ (1,506) Denominator: Basic - Weighted Average number of common shares outstanding 112,633 Dilutive shares: Class A Shares to settle deferred acquisition obligations 3,772 Dilutive - Weighted average number of common shares outstanding 116,405 Loss Per Share - Diluted $ (0.01) Anti-dilutive: Class C Shares 151,649 Stock Appreciation Rights and Restricted Awards 4,531 Employee Stock Purchase Plan shares 49 The following table sets forth the computations of basic and diluted earnings per common share for the three months ended March 31, 2023: Three Months Ended March 31, 2023 Earnings Per Share - Basic (amounts in thousands, except per share amounts) Numerator: Net loss $ (2,869) Net loss attributable to Class C shareholders 1,963 Net loss attributable to other equity interest holders 2,295 Net loss attributable to noncontrolling and redeemable noncontrolling interests $ 4,258 Net income attributable to Stagwell Inc. common shareholders $ 1,389 Denominator: Weighted Average number of common shares outstanding 125,199 Earnings Per Share - Basic $ 0.01 Earnings Per Share - Diluted Numerator: Net income attributable to Stagwell Inc. common shareholders $ 1,389 Net loss attributable to Class C shareholders (1,963) $ (574) Denominator: Basic - Weighted Average number of common shares outstanding 125,199 Dilutive shares: Stock appreciation right awards 1,929 Restricted share and restricted unit awards 1,769 Class C Shares 160,909 Dilutive - Weighted average number of common shares outstanding 289,806 Earnings Per Share - Diluted $ —

Deferred Acquisition Consider_2

Deferred Acquisition Consideration (Tables)	3 Months Ended
Deferred Acquisition Consideration (Tables)	Mar. 31, 2024
Business Combinations [Abstract]
Schedule of Changes in Contingent Deferred Acquisition Consideration	The following table presents changes in deferred acquisition consideration and a reconciliation to the amounts reported on the Unaudited Consolidated Balance Sheet as of March 31, 2024 and Consolidated Balance Sheet as of December 31, 2023: March 31, December 31, 2023 (dollars in thousands) Beginning balance $ 101,058 $ 161,323 Payments (1) (1,907) (97,447) Adjustments to deferred acquisition consideration (2) 1,796 14,303 Additions (3) — 22,172 Currency translation adjustment (142) 680 Other (1) 27 Ending balance (4) $ 100,804 $ 101,058 (1) Includes deferred acquisition consideration payments settled in shares of Class A Common Stock of $32.8 million for the period ended 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 defer 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)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Lease Costs and Other Quantitative Information	The following table presents lease costs and other quantitative information for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Lease Cost: (dollars in thousands) Operating lease cost $ 20,946 $ 19,578 Variable lease cost 5,937 4,561 Sublease rental income (2,480) (3,052) Total lease cost $ 24,403 $ 21,087 Additional information: Cash paid for amounts included in the measurement of lease liabilities for operating leases Operating cash flows $ 21,660 $ 22,347 Right-of-use lease assets obtained in exchange for operating lease liabilities and other non-cash adjustments (1) $ 5,967 $ 2,135 (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 March 31, 2024 and their reconciliation to the corresponding lease liabilities: Maturity Analysis (dollars in thousands) 2024 $ 57,800 2025 69,480 2026 58,473 2027 52,943 2028 49,738 Thereafter 113,932 Total 402,366 Less: Present value discount (66,947) Lease liability $ 335,419

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	As of March 31, 2024 and December 31, 2023, the Company’s indebtedness was comprised as follows: March 31, December 31, (dollars in thousands) Credit Agreement $ 182,000 $ 59,000 5.625% Notes 1,100,000 1,100,000 Debt issuance costs (12,473) (13,172) 5.625% Notes, net of debt issuance costs 1,087,527 1,086,828 Total long-term debt $ 1,269,527 $ 1,145,828

Noncontrolling and Redeemable_2

Noncontrolling and Redeemable Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 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 months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 (dollars in thousands) Net loss attributable to Class C shareholders $ (1,047) $ (1,963) Net income attributable to other equity interest holders 823 248 Net loss attributable to noncontrolling interests (224) (1,715) Net income (loss) attributable to redeemable noncontrolling interests 793 (2,543) Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests $ 569 $ (4,258) The following table presents noncontrolling interests between Class C shareholders and other equity interest holders as of March 31, 2024 and December 31, 2023: March 31, December 31, (dollars in thousands) Noncontrolling interest of Class C shareholders $ 436,899 $ 436,215 Noncontrolling interest of other equity interest holders (1) 22,991 32,362 Total noncontrolling interests $ 459,890 $ 468,577 (1) In January 2024, the Company entered into an agreement to purchase the remaining 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: March 31, December 31, (dollars in thousands) Beginning balance $ 10,792 $ 39,111 Redemptions (1) — (22,172) Distributions (559) (5,800) Changes in redemption value 250 442 Net income (loss) attributable to redeemable noncontrolling interests 793 (634) Other 29 (155) Ending balance $ 11,305 $ 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)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value (dollars in thousands) 5.625% Notes $ 1,100,000 $ 1,002,496 $ 1,100,000 $ 1,010,658

Related Party Disclosures (Tabl

Related Party Disclosures (Tables)	3 Months Ended
Related Party Disclosures (Tables)	Mar. 31, 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 March 31, March 31, December 31, Services 2024 2023 (dollars in thousands) Marketing and advertising services (1) $455 and Continuous (6) $ — $ 694 $ — $ 1,518 Marketing and advertising services (2) $3,576 and Continuous (6) 110 106 3,050 4,381 Marketing and website development services (3) $1,963 and Continuous (6) 755 778 146 694 Polling services (4) $2,636 460 89 644 160 Polling services (5) $1,039 104 39 88 39 Total $ 1,429 $ 1,706 $ 3,928 $ 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) 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 March 31, 2024 and Consolidated Balance Sheet as of December 31, 2023, respectively. The Company recognized less than $0.1 million and less than $0.1 million for the three months ended March 31, 2024 and 2023, respectively, of interest income within Interest expense, net on its 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 $0.2 million of related party expense for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 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 $0.2 million and $0.3 million of revenue for the three months ended March 31, 2024 and 2023, respectively. No revenue was due from the related party as of March 31, 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 ’

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended March 31, 2024 2023 (dollars in thousands) Revenue: Integrated Agencies Network $ 352,719 $ 341,205 Brand Performance Network 213,962 201,928 Communications Network 93,746 66,459 All Other 9,632 12,852 Total Revenue $ 670,059 $ 622,444 Adjusted EBITDA: Integrated Agencies Network $ 60,108 $ 59,859 Brand Performance Network 27,494 22,948 Communications Network 19,384 4,012 All Other (3,986) (3,805) Corporate (12,684) (10,792) Total Adjusted EBITDA $ 90,316 $ 72,222 Depreciation and amortization $ (34,836) $ (33,477) Impairment and other losses (1,500) — Stock-based compensation (16,116) (12,004) Deferred acquisition consideration (154) (4,088) Other items, net (11,856) (6,420) Total Operating Income $ 25,854 $ 16,233 Other Income (expenses): Interest expense, net $ (20,965) $ (18,189) Foreign exchange, net (2,258) (670) Other, net (1,267) 220 Income (loss) before income taxes and equity in earnings of non-consolidated affiliates 1,364 (2,406) Income tax expense 2,585 236 Loss before equity in earnings of non-consolidated affiliates (1,221) (2,642) Equity in income (loss) of non-consolidated affiliates 508 (227) Net loss (713) (2,869) Net (income) loss attributable to noncontrolling and redeemable noncontrolling interests (569) 4,258 Net income (loss) attributable to Stagwell Inc. common shareholders $ (1,282) $ 1,389

Interim Reporting (Tables)

Interim Reporting (Tables)	3 Months Ended
Interim Reporting (Tables)	Mar. 31, 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 March 31, 2023 As reported Adjustment As revised Income tax expense $ 2,384 $ (2,148) $ 236 Loss before equity in earnings of non-consolidated affiliates (4,790) 2,148 (2,642) Net loss (5,017) 2,148 (2,869) Net loss attributable to noncontrolling and redeemable noncontrolling interests 5,460 (1,202) 4,258 Net income attributable to Stagwell Inc. common shareholders 443 946 1,389 Earnings (Loss) Per Common Share Basic 0.00 0.01 0.01 Diluted (0.01) 0.01 0.00 Other comprehensive income - foreign currency translation adjustment 4,425 22 4,447 Other comprehensive income 4,425 22 4,447 Comprehensive income (loss) for the period (592) 2,170 1,578 Comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests 26,723 (24,687) 2,036 Comprehensive income attributable to Stagwell Inc. common shareholders 26,131 (22,517) 3,614 Unaudited Consolidated Statements of Shareholders' Equity Three Months Ended March 31, 2023 As reported Adjustment As revised Net income attributable to Stagwell Inc. common shareholders $ 443 $ 946 $ 1,389 Net income (loss) attributable to Noncontrolling Interests (2,917) 1,202 (1,715) Other comprehensive income 25,688 (23,463) 2,225 Other comprehensive income (loss) attributable to Noncontrolling Interests (21,263) 23,485 2,222 Total other comprehensive income $ 4,425 $ 22 $ 4,447

Basis of Presentation and Rec_2

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

3 Months Ended

6 Months Ended

Apr. 05, 2024 USD ($) shares

Apr. 05, 2024 BRL (R$) shares

Apr. 03, 2024 USD ($)

Apr. 03, 2024 GBP (£)

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

Mar. 31, 2024 USD ($)

Sep. 30, 2023 USD ($)

Jun. 30, 2023 USD ($)

Jun. 30, 2023

Apr. 05, 2024 BRL (R$)

Apr. 03, 2024 GBP (£)

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

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

Deferred acquisition consideration

$ 10

£ 8

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 1

£ 0.9

What's Next Partners | Subsequent event

Business Acquisition [Line Items]

Aggregate purchase price

$ 5

£ 4.3

Deferred acquisition consideration

$ 9

£ 8.5

PROS Agency | Subsequent event

Business Acquisition [Line Items]

Aggregate purchase price

$ 5

R$ 26.5

Payments to Acquire Businesses, Gross

R$ 21.2

Deferred acquisition consideration

R$ 72.5

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 1

R$ 5.3

PROS Agency | Common Class A | Subsequent event

Business Acquisition [Line Items]

Shares issued by the Company (shares) | shares

182,256

Acquisitions and Dispositions -

Acquisitions and Dispositions - Narrative (Details) $ in Thousands, € in Millions, £ in Millions

3 Months Ended

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 (€)

Mar. 31, 2024 USD ($)

Mar. 31, 2023 USD ($)

Mar. 01, 2024 GBP (£)

Dec. 31, 2023 USD ($)

Business Acquisition [Line Items]

Goodwill

$ 1,495,313

$ 1,498,815

Revenues

670,059

$ 622,444

Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest

$ (713)

$ (2,869)

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

$ 8,000

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

13,400

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

630,838

Business Acquisition, Pro Forma Net Income (Loss)

(2,121)

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

5,000

Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest

$ 100

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

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

$ 1,000

£ 0.9

Business Combination, Consideration Transferred, Liabilities Incurred

$ 200

£ 0.1

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jan. 02, 2024	Dec. 31, 2023	Apr. 25, 2023
Business Acquisition [Line Items]
Advance billings	$ (8,800)
Goodwill	(1,495,313)		$ (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
	Jan. 02, 2024	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Revenues		$ 670,059	$ 622,444
Team Epiphany
Business Combinations [Abstract]
Business Acquisition, Pro Forma Revenue	$ 630,838
Business Acquisition, Pro Forma Net Income (Loss)	(2,121)
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	630,838
Business Acquisition, Pro Forma Net Income (Loss)	(2,121)
Revenues	$ 13,400

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	Mar. 31, 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
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
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 670,059	$ 622,444
United States
Disaggregation of Revenue [Line Items]
Revenues	561,317	514,828
Other
Disaggregation of Revenue [Line Items]
Revenues	70,981	74,483
UNITED KINGDOM
Disaggregation of Revenue [Line Items]
Revenues	37,761	33,133
Digital Transformation
Disaggregation of Revenue [Line Items]
Revenues	195,763	185,515
Creativity and Communications
Disaggregation of Revenue [Line Items]
Revenues	291,653	263,882
Performance Media and Data
Disaggregation of Revenue [Line Items]
Revenues	77,016	67,974
Consumer Insights and Strategy
Disaggregation of Revenue [Line Items]
Revenues	45,769	49,255
Stagwell Marketing Cloud Group
Disaggregation of Revenue [Line Items]
Revenues	$ 59,858	$ 55,818

Revenue - Contract Assets and L

Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Unbilled service fees	$ 186,600	$ 141,900
Unbilled outside vendor costs, billable to clients	111,721	114,097
Advance billings	302,484	$ 301,674
Increase (Decrease) in Advance Billings	800
Contract with Customer, Liability, Revenue Recognized	185,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 93,400
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	76%
Expected timing of satisfaction	3 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	23%
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	1%
Expected timing of satisfaction	1 year

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (713)	$ (2,869)
Net Income (Loss) Attributable to Noncontrolling Interest	(569)	4,258
Net Income (Loss) Attributable to Parent	(1,282)	1,389
Net income available to stockholders, diluted	$ (1,506)	$ (574)
Denominator
Basic weighted average number of common shares outstanding (in shares)	112,633	125,199
Diluted weighted average number of common shares outstanding (in shares)	116,405	289,806
Class of Stock [Line Items]
Basic (in dollars per share)	$ (0.01)	$ 0.01
Diluted (in dollars per share)	$ 0.01	$ 0
Antidilutive securities excluded from computation of earnings per share (shares)	4,600	700
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	$ (713)	$ (2,869)
Income attributable to noncontrolling interests	569	(4,258)
Net Income (Loss) Attributable to Parent	(1,282)	$ 1,389
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities	$ (224)
Weighted Average Number of Shares Outstanding, Basic	112,633	125,199
Incremental Common Shares Attributable to Dilutive Effect of Contingently Issuable Shares	3,772
Net income available to stockholders, diluted	$ (1,506)	$ (574)
Diluted weighted average number of common shares outstanding (in shares)	116,405	289,806
Stagwell Media
Numerator
Net Income (Loss) Attributable to Noncontrolling Interest	$ (1,047)	$ 1,963
Class of Stock [Line Items]
Income attributable to noncontrolling interests	1,047	(1,963)
Stagwell Global
Numerator
Net Income (Loss) Attributable to Noncontrolling Interest	1,616	2,295
Class of Stock [Line Items]
Income attributable to noncontrolling interests	$ (1,616)	$ (2,295)
Common Class C
Class of Stock [Line Items]
Weighted average number diluted shares outstanding adjustment		160,909
Antidilutive securities excluded from computation of earnings per share (shares)	151,649
Stock Appreciation Rights (SARs)
Class of Stock [Line Items]
Weighted average number diluted shares outstanding adjustment		1,929
Antidilutive securities excluded from computation of earnings per share (shares)	4,531
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Weighted average number diluted shares outstanding adjustment		1,769
Employee Stock
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	49

Deferred Acquisition Consider_3

Deferred Acquisition Consideration (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 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	$ 161,323	$ 161,323	$ 161,323
Payments	1,907	97,447
Adjustments to deferred acquisition consideration (2)	1,796	14,303
Additions	0	22,172
Deferred Policy Acquisition Costs, Foreign Currency Translation Gain (Loss)	(142)	680
Other	(1)		$ 27
Ending balance of contingent payments	100,804			101,058
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	100,804			101,058
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0	22,172
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(1,907)	$ (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
Ending balance of contingent payments	56,800			57,500
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	56,800			57,500
Fixed payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance of contingent payments	43,600
Ending balance of contingent payments	44,000			43,600
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	44,000			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
Payments				(32,800)
Ending balance of contingent payments	30,300			29,300
Business Acquisition [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ 30,300			29,300
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements				$ 32,800

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	3 Months Ended
Leases - Additional Information (Details) $ in Millions	Mar. 31, 2024 USD ($) lease
Leases [Abstract]
Number of leases not yet commenced \| lease	2
Leases not yet commenced, liability	$ 2.9
ROU Lease and LHI, Impairment Loss	$ 1.5

Leases - Lease Costs and Other

Leases - Lease Costs and Other Quantitative Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease cost	$ 20,946	$ 19,578
Variable lease cost	5,937	4,561
Sublease rental income	(2,480)	(3,052)
Total lease cost	24,403	21,087
Operating cash flows	21,660	22,347
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 5,967	$ 2,135
Weighted average remaining lease term (in years) - Operating leases	6 years 3 months 18 days
Weighted average discount rate - Operating leases	5.50%

Leases - Minimum Future Rental

Leases - Minimum Future Rental Payments (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 57,800
2026	69,480
2027	58,473
2028	52,943
2029	49,738
Thereafter	113,932
Total	402,366
Less: Present value discount	(66,947)
Lease liability	$ 335,419

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Aug. 20, 2021
Debt [Line Items]
Debt issuance costs	$ (12,473)	$ (13,172)
Total long-term debt	1,269,527	1,145,828
Combined Credit Agreement
Debt [Line Items]
Long-term Debt, Gross	182,000	59,000
5.625% Notes \| Senior Notes
Debt [Line Items]
Long-term Debt, Gross	1,100,000	1,100,000
Total long-term debt	$ 1,087,527	$ 1,086,828
Interest rate, stated percentage			5.625%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Aug. 20, 2021	Aug. 02, 2021
Debt [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 640
Maximum Restricted Payments under Credit Facility	150
Interest and Debt Expense
Debt [Line Items]
Interest expense, long-term debt	20.4	$ 18.3
Amortization of debt issuance costs	0.7	$ 0.6
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	$ 15.8		$ 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		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	$ 224	$ (1,715)
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	(793)	2,543	$ (634)
Income attributable to noncontrolling interests	569	(4,258)
Nonredeemable Noncontrolling Interest	459,890		468,577
Stagwell Global
Noncontrolling Interest [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	823	248
Income attributable to noncontrolling interests	(1,616)	(2,295)
Nonredeemable Noncontrolling Interest	22,991		32,362
Stagwell Media
Noncontrolling Interest [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	(1,047)	(1,963)
Income attributable to noncontrolling interests	1,047	$ (1,963)
Nonredeemable Noncontrolling Interest	$ 436,899		$ 436,215

Noncontrolling and Redeemable_4

Noncontrolling and Redeemable Noncontrolling Interests - Changes in Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Noncontrolling Interest
Beginning Balance	$ 10,792	$ 39,111	$ 39,111
Redemptions (1)	0		(22,172)
Redeemable noncontrolling interest, Distributions	559	5,800
Changes in redemption value	250		442
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	793	(2,543)	634
Other	(29)		(155)
Ending Balance	11,305		$ 10,792
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders		(8,025)
Noncontrolling Interests
Noncontrolling Interest
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(10,226)	$ (8,025)
Noncontrolling Interests \| Stag Tech NCI Transactions
Noncontrolling Interest
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(10,000)
Vesting over period
Noncontrolling Interest
Ending Balance	$ 7,800

Noncontrolling and Redeemable_5

Noncontrolling and Redeemable Noncontrolling Interests (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest, Equity, Fair Value	$ 11,305		$ 10,792	$ 39,111
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	3,713	$ 2,036
Net Income (Loss) Attributable to Noncontrolling Interest	(569)	4,258
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	4,300	$ (2,200)
Reduction of noncontrolling and redeemable noncontrolling interest	(8,482)
Vesting over period
Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest, Equity, Fair Value	7,800
Termination, disability, or death
Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest, Equity, Fair Value	$ 3,500

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Details Textual) $ in Millions	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 5.2
2024	6.9
2025	4.2
2026	3
2027	3.1
Thereafter	3.8
Cloud Purchase Obligation, to be Paid, Year One	5.5
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
	Mar. 31, 2024 USD ($) vote $ / shares shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 shares
Share Capital [Line Items]
Stock Repurchased and Retired During Period, Shares	4,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount \| $	$ 114,000
Stock Repurchased and Retired During Period \| $ / shares	$ 6.11
Stock Repurchase Program, Authorized Amount \| $	$ 250,000
ESPP Maximum Eligible Percentage Withheld			15%
Repurchase of Common Stock under Repurchase Program \| $	24,600
Stock-based compensation \| $	$ 16,116	$ 12,004
Common Class A
Share Capital [Line Items]
Common Stock, Shares Authorized	1,000,000
Common Stock, Shares, Issued	114,800
Common stock, voting rights, number of votes per share \| vote	1
Employee Stock Ownership Plan (ESOP), Shares in ESOP			2,900
Stock Issued During Period, Shares, Employee Stock Ownership Plan	3,000
Common Class C
Share Capital [Line Items]
Common Stock, Shares Authorized	250,000
Common Stock, Shares, Outstanding	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	Mar. 31, 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	$ 1,002,496	$ 1,010,658

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Fair Value, Inputs, Level 3	Mar. 31, 2024
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability, measurement input	0.091
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
Supplemental Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share Capital [Line Items]
Stock-based compensation	$ 16,116	$ 12,004
Trade Receivables Collected and Due to Third Party under Receivable Purchase Agreement	3,700		$ 1,800
Trade Receivable Fees paid to Third Party under Receivable Purchase Agreement	900	1,000
Accounts Receivable, Sale	69,800	56,200
Other Awards
Share Capital [Line Items]
Profit interest award liability	19,800		$ 20,300
Stock Compensation Award
Share Capital [Line Items]
Stock-based compensation	12,800	7,400
Profit interest
Share Capital [Line Items]
Stock-based compensation	$ 1,700	$ 4,600

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Tax Receivable Agreement, Deferred Tax Asset	$ 29,000
Tax Receivable Agreement, Deferred Tax Liability	26,700
Pre-tax income	1,364	$ (2,406)
Income tax expense (benefit)	$ 2,585	$ 236
Effective Income Tax Rate Reconciliation, Percent	189.50%	(9.80%)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Revenue from Related Parties	$ 1,429	$ 1,706
Due from Related Parties	3,928		$ 6,792
Loans and Leases Receivable, Related Parties, Fixed Interest Rate		3.50%
Affiliated entity \| Loan Agreement, Related Party
Related Party Transaction [Line Items]
Interest Income, Related Party	100	$ 100
Notes Receivable, Related Parties	400		800
Affiliated entity \| Marketing and advertising services
Related Party Transaction [Line Items]
Revenue from Related Parties	110	106
Due from Related Parties	3,050		4,381
Related Party Transaction, Expected Amount of Transactions with Related Party	3,576
Affiliated entity \| Sales and management services
Related Party Transaction [Line Items]
Due to Related Parties	600		600
Expenses from transaction with related party	400	200
Immediate family member of management \| Polling Services
Related Party Transaction [Line Items]
Revenue from Related Parties	460	89
Due from Related Parties	644		160
Related Party Transaction, Expected Amount of Transactions with Related Party	2,636
Employee of Subsidiary
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties, Additions	900
Immediate Family Member of Company's President \| Polling Services
Related Party Transaction [Line Items]
Revenue from Related Parties	104	39
Due from Related Parties	88		39
Related Party Transaction, Expected Amount of Transactions with Related Party	1,039
Director \| Marketing and advertising services
Related Party Transaction [Line Items]
Revenue from Related Parties	0	694
Due from Related Parties	0		1,518
Related Party Transaction, Expected Amount of Transactions with Related Party	455
srt_DirectorMember \| Marketing and advertising services
Related Party Transaction [Line Items]
Revenue from Related Parties	200	300
Due to Related Parties			700
Stagwell Affiliate \| Beneficial owner \| Marketing and Website Development Services
Related Party Transaction [Line Items]
Revenue from Related Parties	755	$ 778
Due from Related Parties	146		$ 694
Related Party Transaction, Expected Amount of Transactions with Related Party	$ 1,963

Segment Information (Details 1)

Segment Information (Details 1) $ in Thousands	3 Months Ended
Segment Information (Details 1) $ in Thousands	Mar. 31, 2024 USD ($) reportable_segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| reportable_segment	3
Revenues	$ 670,059	$ 622,444
Adjusted EBITDA	(90,316)	(72,222)
Depreciation, Depletion and Amortization, Nonproduction	(34,836)	(33,477)
Asset Impairment Charges	(1,500)	0
Stock-based compensation	(16,116)	(12,004)
Deferred Acquisition Consideration Expense (Income)	(154)	(4,088)
Other items, net	(11,856)	(6,420)
Operating income	25,854	16,233
Interest and Debt Expense	(20,965)	(18,189)
Foreign exchange, net	(2,258)	(670)
Other Nonoperating Income (Expense)	(1,267)	220
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	1,364	(2,406)
Income tax expense	2,585	236
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates	(1,221)	(2,642)
Income (Loss) from Equity Method Investments	508	(227)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(713)	(2,869)
Net Income (Loss) Attributable to Noncontrolling Interest	(569)	4,258
Net Income (Loss) Attributable to Parent	(1,282)	1,389
Long-Lived Assets	318,900		$ 332,100
UNITED STATES
Segment Reporting Information [Line Items]
Revenues	561,317	514,828
Long-Lived Assets	260,400		268,500
All other countries
Segment Reporting Information [Line Items]
Long-Lived Assets	58,500		$ 63,600
Operating Segments \| Integrated Agencies Network
Segment Reporting Information [Line Items]
Revenues	352,719	341,205
Adjusted EBITDA	(60,108)	(59,859)
Operating Segments \| Brand Performance Network
Segment Reporting Information [Line Items]
Revenues	213,962	201,928
Adjusted EBITDA	(27,494)	(22,948)
Operating Segments \| Communications Network
Segment Reporting Information [Line Items]
Revenues	93,746	66,459
Adjusted EBITDA	(19,384)	(4,012)
Operating Segments \| All Other
Segment Reporting Information [Line Items]
Revenues	9,632	12,852
Adjusted EBITDA	(3,986)	(3,805)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 12,684	$ 10,792

Interim Reporting (Details)

Interim Reporting (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 670,059	$ 622,444
Cost of services	444,526	413,898
Income tax expense (benefit)	2,585	236
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates	(1,221)	(2,642)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(713)	(2,869)
Income attributable to noncontrolling interests	569	(4,258)
Net Income (Loss) Attributable to Parent	$ (1,282)	$ 1,389
Earnings per share, basic	$ (0.01)	$ 0.01
Earnings per share, diluted	$ (0.01)	$ 0
Other comprehensive income (loss) - Foreign currency translation adjustment	$ (7,146)	$ 4,447
Other Comprehensive Income, Other, Net of Tax		4,447
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(7,859)	1,578
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	3,713	2,036
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(4,146)	3,614
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax expense (benefit)	2,585	236
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates	(1,221)	(2,642)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(713)	(2,869)
Income attributable to noncontrolling interests	569	(4,258)
Net Income (Loss) Attributable to Parent	$ (1,282)	$ 1,389
Earnings per share, basic	$ (0.01)	$ 0.01
Earnings per share, diluted	$ (0.01)	$ 0
Other comprehensive income (loss) - Foreign currency translation adjustment	$ (7,146)	$ 4,447
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(7,859)	1,578
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	(3,713)	(2,036)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(4,146)	3,614
Other Comprehensive Income, Other, Net of Tax		4,447
Net income (loss)		1,389
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	224	(1,715)
Other Comprehensive Income (Loss), Net of Tax	7,146	(4,447)
Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(1,282)	1,389
Noncontrolling Interests
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	569	(4,258)
Other Comprehensive Income (Loss), Net of Tax	(4,282)	2,222
Accumulated Other Comprehensive Loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other Comprehensive Income (Loss), Net of Tax	$ 2,864	(2,225)
Previously Reported
Quarterly Financial Information Disclosure [Abstract]
Income tax expense (benefit)		2,384
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		(4,790)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		(5,017)
Income attributable to noncontrolling interests		(5,460)
Net Income (Loss) Attributable to Parent		$ 443
Earnings per share, basic		$ 0
Earnings per share, diluted		$ (0.01)
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 4,425
Other Comprehensive Income, Other, Net of Tax		4,425
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		592
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		(26,723)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		26,131
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax expense (benefit)		2,384
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		(4,790)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		(5,017)
Income attributable to noncontrolling interests		(5,460)
Net Income (Loss) Attributable to Parent		$ 443
Earnings per share, basic		$ 0
Earnings per share, diluted		$ (0.01)
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 4,425
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		592
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		26,723
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		26,131
Other Comprehensive Income, Other, Net of Tax		4,425
Other Comprehensive Income (Loss), Net of Tax		(4,425)
Previously Reported \| Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		443
Previously Reported \| Noncontrolling Interests
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest		(2,917)
Other Comprehensive Income (Loss), Net of Tax		21,263
Previously Reported \| Accumulated Other Comprehensive Loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other Comprehensive Income (Loss), Net of Tax		(25,688)
Restatement Adjustment
Quarterly Financial Information Disclosure [Abstract]
Income tax expense (benefit)		(2,148)
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		2,148
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		2,148
Income attributable to noncontrolling interests		1,202
Net Income (Loss) Attributable to Parent		$ 946
Earnings per share, basic		$ 0.01
Earnings per share, diluted		$ 0.01
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 22
Other Comprehensive Income, Other, Net of Tax		22
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		2,170
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		(24,687)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(22,517)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax expense (benefit)		(2,148)
Income Loss From Continuing Operations Before Equity In Earnings Of Non-consolidated Affiliates		2,148
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest		2,148
Income attributable to noncontrolling interests		1,202
Net Income (Loss) Attributable to Parent		$ 946
Earnings per share, basic		$ 0.01
Earnings per share, diluted		$ 0.01
Other comprehensive income (loss) - Foreign currency translation adjustment		$ 22
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest		2,170
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest		24,687
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(22,517)
Other Comprehensive Income, Other, Net of Tax		22
Other Comprehensive Income (Loss), Net of Tax		(22)
Restatement Adjustment \| Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		946
Restatement Adjustment \| Noncontrolling Interests
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest		1,202
Other Comprehensive Income (Loss), Net of Tax		(23,485)
Restatement Adjustment \| Accumulated Other Comprehensive Loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other Comprehensive Income (Loss), Net of Tax		$ 23,463