Interim Reporting

9 Months Ended

Sep. 30, 2024

Quarterly Financial Information Disclosure [Abstract]

17. Revision of previously issued Unaudited Consolidated Financial Statements for the third quarter of 2023

The following table presents selected unaudited revised financial information for the nine months ended September 30, 2023, in connection with the revision detailed in Note 1 included herein. There were no changes to previously issued cash flows generated from (used by) operating, investing, or financing activities for any of the impacted periods. The quarterly interim consolidated balance sheet was only impacted by the effects of the balance sheet adjustments discussed in Note 1 of the Notes included herein. For the nine months ended September 30, 2023, we have included the line items that were impacted by the correction of errors originally adjusted as out-of-period in the 2023 interim financial statements.

The impact of the revision on the previously issued unaudited quarterly financial information is as follows:


Unaudited Consolidated Statements of Operations and
Unaudited Consolidated Statements of Comprehensive Income (Loss)
	Nine Months Ended September 30, 2023
	As reported		Adjustment		As revised
Income tax expense	$	12,425	$	(7,428)	$	4,997
Loss before equity in earnings of non-consolidated affiliates	(11,698)		7,428		(4,270)
Net loss	(12,145)		7,428		(4,717)
Net loss attributable to noncontrolling and redeemable noncontrolling interests	8,548		(4,983)		3,565
Net loss attributable to Stagwell Inc. common shareholders	(3,597)		2,445		(1,152)

Earnings (Loss) Per Common Share
Basic	(0.03)		0.02		(0.01)
Diluted	(0.03)		0.02		(0.01)

Other comprehensive loss - foreign currency translation adjustment	(6,153)		29		(6,124)
Other comprehensive loss	(6,153)		29		(6,124)
Comprehensive loss for the period	(18,298)		7,457		(10,841)
Comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests	34,829		(28,468)		6,361
Comprehensive income (loss) attributable to Stagwell Inc. common shareholders	16,531		(21,011)		(4,480)