Advantage Solutions Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
ADV$32.29-2.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands, except share and per share data) | 2024 | 2023 | 2024 | 2023 |
| Revenues | $939,270 | $1,019,706 | $2,674,039 | $2,908,177 |
| Cost of revenues (exclusive of depreciation and amortization shown separately below) | 794,958 | 892,347 | 2,298,139 | 2,552,642 |
| Selling, general, and administrative expenses | 98,438 | 68,291 | 250,377 | 172,172 |
| Impairment of goodwill and indefinite-lived assets | — | — | 99,670 | — |
| Depreciation and amortization | 51,866 | 52,415 | 152,931 | 157,436 |
| Loss from equity method investments | (2,815) | — | (2,692) | — |
| Total operating expenses | 942,447 | 1,013,053 | 2,798,425 | 2,882,250 |
| Operating (loss) income from continuing operations | (3,177) | 6,653 | (124,386) | 25,927 |
| Other expenses (income): | ||||
| Change in fair value of warrant liabilities | 40 | 587 | (359) | 587 |
| Interest expense, net | 38,969 | 42,275 | 114,484 | 119,883 |
| Total other expenses, net | 39,009 | 42,862 | 114,125 | 120,470 |
| Loss from continuing operations before income taxes | (42,186) | (36,209) | (238,511) | (94,543) |
| Benefit from income taxes from continuing operations | (4,866) | (6,577) | (38,042) | (15,994) |
| Net loss from continuing operations | (37,320) | (29,632) | (200,469) | (78,549) |
| Net (loss) income from discontinued operations, net of tax | (5,456) | 7,050 | 53,743 | 443 |
| Net loss | (42,776) | (22,582) | (146,726) | (78,106) |
| Less: net (loss) from continuing operations attributable to noncontrolling interest, net of tax | — | 1,437 | — | 2,346 |
| Less: net (loss) from discontinued operations attributable to noncontrolling interest, net of tax | — | 319 | 2,192 | 235 |
| Net loss attributable to stockholders of Advantage Solutions Inc. | $(42,776) | $(24,338) | $(148,918) | $(80,687) |
| Net loss per common share: | ||||
| Basic loss per common share from continuing operations | $(0.12) | $(0.09) | $(0.62) | $(0.24) |
| Basic (loss) earnings per common share from discontinued operations | $(0.02) | $0.02 | $0.17 | $0.00 |
| Basic loss per common share attributable to stockholders of Advantage Solutions Inc. | $(0.13) | $(0.07) | $(0.46) | $(0.25) |
| Diluted net loss per share: | ||||
| Diluted loss per common share from continuing operations | $(0.12) | $(0.09) | $(0.62) | $(0.24) |
| Diluted (loss) earnings per common share from discontinued operations | $(0.02) | $0.02 | $0.17 | $0.00 |
| Diluted loss per common share attributable to stockholders of Advantage Solutions Inc. | $(0.13) | $(0.07) | $(0.46) | $(0.25) |
| Weighted-average number of common shares: | ||||
| Basic | 321,080,571 | 324,706,866 | 321,774,115 | 323,353,308 |
| Diluted | 321,080,571 | 324,706,866 | 321,774,115 | 323,353,308 |
Comprehensive Loss:
| Net loss attributable to stockholders of Advantage Solutions Inc. | $(42,776) | $(24,338) | $(148,918) | $(80,687) |
|---|---|---|---|---|
| Other comprehensive income (loss), net of tax: | ||||
| Foreign currency translation adjustments | 8,132 | (5,709) | 3,075 | (463) |
| Total comprehensive loss attributable to stockholders of Advantage Solutions Inc. | $(34,644) | $(30,047) | $(145,843) | $(81,150) |
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