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Share Name | Share Symbol | Market | Type |
---|---|---|---|
MDC Partners Inc | NASDAQ:MDCA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.42 | 5.36 | 5.45 | 0 | 01:00:00 |
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Year Ended
December 31, |
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2022
|
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2021(3)
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(In thousands, except per share amounts)
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Operating Data | | | | | | | | | | | | | |
Revenues
|
| | | $ | 2,687,792 | | | | | $ | 1,469,363 | | |
Operating Expenses: | | | | | | | | | | | | | |
Cost of services
|
| | | | 1,673,576 | | | | | | 906,856 | | |
Office and general expenses
|
| | | | 601,536 | | | | | | 424,038 | | |
Depreciation and amortization
|
| | | | 131,273 | | | | | | 77,503 | | |
Impairment and other losses
|
| | | | 122,179 | | | | | | 16,240 | | |
| | | | | 2,528,564 | | | | | | 1,424,637 | | |
Operating income
|
| | | | 159,228 | | | | | | 44,726 | | |
Other Income (expenses): | | | | | | | | | | | | | |
Interest expense and finance charge, net
|
| | | | (76,062) | | | | | | (31,894) | | |
Foreign exchange, net
|
| | | | (2,606) | | | | | | (3,332) | | |
Other, net
|
| | | | (7,059) | | | | | | 50,058 | | |
| | | | | (85,727) | | | | | | 14,832 | | |
Income before income taxes and equity in earnings of non-consolidated affiliates
|
| | | | 73,501 | | | | | | 59,558 | | |
Income tax expense
|
| | | | 7,580 | | | | | | 23,398 | | |
Income before equity in earnings of non-consolidated affiliates
|
| | | | 65,921 | | | | | | 36,160 | | |
Equity in (income) losses of non-consolidated affiliates
|
| | | | (79) | | | | | | (240) | | |
Net income
|
| | | | 65,842 | | | | | | 35,920 | | |
Net income attributable to noncontrolling and redeemable noncontrolling
interests |
| | | | (38,573) | | | | | | (14,884) | | |
Net income attributable to Stagwell Inc. common shareholders
|
| | | $ | 27,269 | | | | | $ | 21,036 | | |
Income Per Common Share: | | | | | | | | | | | | | |
Basic | | | | | | | | | | | | | |
Net income (loss) attributable to Stagwell Inc. common shareholders
|
| | | $ | 0.22 | | | | | $ | (0.04) | | |
Diluted | | | | | | | | | | | | | |
Net income (loss) attributable to Stagwell Inc. common shareholders
|
| | | $ | 0.17 | | | | | $ | (0.04) | | |
Weighted Average Number of Common Shares Outstanding | | | | | | | | | | | | | |
Basic
|
| | | | 124,262 | | | | | | 90,426 | | |
Diluted
|
| | | | 296,596 | | | | | | 90,426 | | |
Adjusted EBITDA(1)
|
| | | $ | 451,118 | | | | | $ | 253,652 | | |
Free Cash Flow(2)
|
| | | $ | 269,646 | | | |
| | |
As of
December 31, 2022 |
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| | |
(In thousands)
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Financial Position Data
|
| | | | | | |
Cash and cash equivalents
|
| | | $ | 220,589 | | |
Total assets
|
| | | | 3,993,332 | | |
Long-term debt
|
| | | | 1,184,707 | | |
Deferred acquisition consideration
|
| | | | 161,323 | | |
Total liabilities
|
| | | | 3,009,587 | | |
Redeemable Noncontrolling Interests
|
| | | | 39,111 | | |
Total Shareholders’ Equity
|
| | | | 944,634 | | |
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Year Ended December 31,
|
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2022
|
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2021
|
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(In thousands)
|
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Net income
|
| | | $ | 65,842 | | | | | $ | 35,920 | | | | | ||||
Net income attributable to noncontrolling and redeemable noncontrolling interests
|
| | | | (38,573) | | | | | | (14,884) | | | | | ||||
Net income attributable to Stagwell Inc. common shareholders
|
| | | | 27,269 | | | | | | 21,036 | | | | | ||||
Non-operating items(1)
|
| | | | 131,959 | | | | | | 23,690 | | | | | ||||
Operating income
|
| | | | 159,228 | | | | | | 44,726 | | | | | ||||
Depreciation and amortization
|
| | | | 131,273 | | | | | | 77,503 | | | | | ||||
Impairment and other losses
|
| | | | 122,179 | | | | | | 16,240 | | | | | ||||
Stock-based compensation
|
| | | | 33,152 | | | | | | 75,032 | | | | | ||||
Deferred acquisition consideration
|
| | | | (13,405) | | | | | | 18,721 | | | | | ||||
Other items, net
|
| | | | 18,691 | | | | | | 21,430 | | | | | ||||
Adjusted EBITDA
|
| | | $ | 451,118 | | | | | $ | 253,652 | | | | | ||||
Cash interest paid
|
| | | | (70,935) | | | | | | | | | | | ||||
Capital expenditures and software spend(2)
|
| | | | (34,912) | | | | | | | | | | | ||||
Distributions to minority interests
|
| | | | (13,408) | | | | | | | | | | | ||||
Cash taxes paid
|
| | | | (72,064) | | | | | | | | | | | ||||
Changes in working capital
|
| | | | 9,867 | | | | | | | | | | | ||||
Free Cash Flow
|
| | | $ | 269,646 | | | | | | | | | | |
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Unaudited
Combined Net Revenue – Year Ended December 31, 2021 |
| |
Components of Change (Unaudited)
|
| |
Net Revenue –
Year Ended December 31, 2022 |
| |
Change (Unaudited)
|
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| | |
Foreign
Currency |
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Net
Acquisitions (Divestitures) |
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Organic
|
| |
Total
Change |
| |
Organic
|
| |
Total
|
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| | |
(In thousands, except percentages)
|
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Integrated Agencies
Network |
| | | $ | 1,142,636 | | | | | $ | (8,327) | | | | | $ | 2,838 | | | | | $ | 110,221 | | | | | $ | 104,732 | | | | | $ | 1,247,368 | | | | | | 9.6% | | | | | | 9.2% | | |
Brand Performance
Network |
| | | | 543,376 | | | | | | (12,305) | | | | | | 38,434 | | | | | | 98,377 | | | | | | 124,506 | | | | | | 667,882 | | | | | | 18.1% | | | | | | 22.9% | | |
Communications Network
|
| | | | 214,829 | | | | | | (970) | | | | | | 2,682 | | | | | | 70,400 | | | | | | 72,112 | | | | | | 286,941 | | | | | | 32.8% | | | | | | 33.6% | | |
All Other
|
| | | | 25,973 | | | | | | (835) | | | | | | (4,633) | | | | | | (543) | | | | | | (6,011) | | | | | | 19,962 | | | | | | (2.1)% | | | | | | (23.1)% | | |
Total
|
| | | $ | 1,926,814 | | | | | $ | (22,437) | | | | | $ | 39,321 | | | | | $ | 278,455 | | | | | $ | 295,339 | | | | | $ | 2,222,153 | | | | | | 14.5% | | | | | | 15.3% | | |
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Beneficial Ownership Prior to this Offering(1)
|
| |
Class A
Shares to Be Sold in the Offering |
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Beneficial Ownership After this Offering(1)
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Name of Selling Stockholder
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Class A
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Class C
|
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% of Total
Voting Power(2) |
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Class A
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Class C
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% of Total
Voting Power(2) |
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Shares
|
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%
|
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Shares
|
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%
|
| |
Shares
|
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%
|
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Shares
|
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%
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Entities affiliated with The Stagwell Group LLC(3)
|
| | | | 26,502,414 | | | | | | 20.1 | | | | | | 160,909,058 | | | | | | 100.0 | | | | | | 64.1 | | | | | | 12,000,000 | | | | | | 14,502,414 | | | | | | 11.0 | | | | | | 160,909,058 | | | | | | 100.0 | | | | | | 60.0 | | |
Entities affiliated with Goldman Sachs(4)
|
| | | | 20,948,746 | | | | | | 15.9 | | | | | | — | | | | | | — | | | | | | 7.2 | | | | | | 4,000,000 | | | | | | 16,948,746 | | | | | | 12.9 | | | | | | — | | | | | | — | | | | | | 5.8 | | |
Name
|
| |
Number
of Shares |
|
Morgan Stanley & Co. LLC
|
| |
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Goldman Sachs & Co. LLC
|
| | | |
SVB Securities LLC
|
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Wells Fargo Securities, LLC
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Rosenblatt Securities Inc.
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| | | |
Total
|
| | | |
| | | | | | | | |
Total
|
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| | |
Per
Share |
| |
No
Exercise |
| |
Full
Exercise |
| |||||||||
Public offering price(1)
|
| | | $ | | | | | $ | | | | | $ | | | |||
Underwriting discounts and commissions to be paid by the selling stockholders(2)
|
| | | $ | | | | | $ | | | | | $ | | | |||
Proceeds, before expenses, to the selling stockholders
|
| | | $ | | | | | $ | | | | | $ | | | |
| | |
Type of
Shareholding |
| |
Shares of Class A
Common Sock Beneficially Owned Prior to the Offering |
| |
Number of
Shares Offered |
| |
Shares of Class A
Common Stock Beneficially Owned After the Offering |
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Name
|
| |
Number
|
| |
Percent
|
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Mark J. Penn
|
| |
Direct
|
| | | | 589,051(1) | | | | | | 589,051 | | | | | | — | | | | | | — | | |
| | |
Indirect
|
| | | | 206,472,465(2) | | | | | | 206,472,465 | | | | | | — | | | | | | — | | |
The Stagwell Group LLC(2)
|
| | | | | | | 206,472,465(2) | | | | | | 206,472,465 | | | | | | — | | | | | | — | | |
Goldman Sachs(3)
|
| | | | | | | 20,961,554(3) | | | | | | 20,948,746 | | | | | | — | | | | | | — | | |
1 Year MDC Partners Chart |
1 Month MDC Partners Chart |
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