Advantage Solutions Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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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.
Jun 30, 2025 · Filed Aug 7, 2025
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 June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands, except share and per share data) | 2025 | 2024 | 2025 | 2024 |
| Revenues | $873,707 | $873,357 | $1,695,499 | $1,734,769 |
| Cost of revenues (exclusive of depreciation and amortization shown separately below) | 746,932 | 751,337 | 1,469,686 | 1,503,181 |
| Selling, general, and administrative expenses | 68,657 | 62,858 | 133,522 | 151,939 |
| Impairment of goodwill and indefinite-lived asset | — | 99,670 | — | 99,670 |
| Depreciation and amortization | 50,698 | 51,317 | 101,059 | 101,065 |
| (Income) loss from equity method investments | (2,591) | (566) | (4,158) | 123 |
| Total operating expenses | 863,696 | 964,616 | 1,700,109 | 1,855,978 |
| Operating income (loss) from continuing operations | 10,011 | (91,259) | (4,610) | (121,209) |
| Other expenses: | ||||
| Change in fair value of warrant liabilities | 16 | (686) | 26 | (399) |
| Interest expense, net | 35,814 | 39,754 | 70,174 | 75,515 |
| Total other expenses, net | 35,830 | 39,068 | 70,200 | 75,116 |
| Loss from continuing operations before provision for (benefit from) income taxes | (25,819) | (130,327) | (74,810) | (196,325) |
| Provision for (benefit from) income taxes from continuing operations | 4,621 | (17,311) | 11,760 | (33,176) |
| Net loss from continuing operations | (30,440) | (113,016) | (86,570) | (163,149) |
| Net income from discontinued operations, net of tax | — | 12,181 | — | 59,199 |
| Net loss | $(30,440) | $(100,835) | $(86,570) | $(103,950) |
| Less: net income from discontinued operations attributable to noncontrolling interest, net of tax | — | — | — | 2,192 |
| Net loss attributable to stockholders of Advantage Solutions Inc. | $(30,440) | $(100,835) | $(86,570) | $(106,142) |
| Net loss per common share: | ||||
| Basic loss per common share from continuing operations attributable to stockholders of Advantage Solutions Inc. | $(0.09) | $(0.35) | $(0.27) | $(0.51) |
| Basic earnings per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc. | $— | $0.04 | $— | $0.18 |
| Diluted net loss per share: | ||||
| Diluted loss per common share from continuing operations attributable to stockholders of Advantage Solutions Inc. | $(0.09) | $(0.35) | $(0.27) | $(0.51) |
| Diluted earnings per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc. | $— | $0.04 | $— | $0.18 |
| Weighted-average number of common shares: | ||||
| Basic | 324,314,678 | 322,791,242 | 323,006,328 | 322,124,698 |
| Diluted | 324,314,678 | 322,791,242 | 323,006,328 | 322,124,698 |
| Comprehensive Income (Loss): | ||||
|---|---|---|---|---|
| Net loss | $(30,440) | $(100,835) | $(86,570) | $(106,142) |
| Other comprehensive income (loss), net of tax: | ||||
| Foreign currency translation adjustments | 13,365 | (2,340) | 14,167 | (5,057) |
| Total comprehensive loss attributable to stockholders of Advantage Solutions Inc. | $(17,075) | $(103,175) | $(72,403) | $(111,199) |
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
| Accumulated | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Additional · Other · Total | |||||||||
| Common Stock · Treasury Stock · Paid-in · Accumulated · Loans to · Comprehensive · Stockholders' | |||||||||
| (in thousands, except share data) | Shares | Amount | Shares | Amount | Capital | Deficit | Topco | Loss | Equity |
| Balance at April 1, 2025 | 323,265,272 | $32 | 12,894,517 | $(53,885) | $3,469,419 | $(2,697,742) | $(7,190) | $(15,059) | $695,575 |
| Comprehensive loss | |||||||||
| Net loss | — | — | — | — | — | (30,440) | — | — | (30,440) |
| Foreign currency translation adjustments | — | — | — | — | — | — | — | 13,365 | 13,365 |
| Total comprehensive loss | — | — | — | — | — | — | — | — | (17,075) |
| Interest on loans to Karman Topco L.P. | — | — | — | — | — | — | (161) | — | (161) |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | — | — | — | — | (1,228) | — | — | — | (1,228) |
| Shares issued under 2020 Incentive Award Plan | 1,899,530 | 1 | — | — | — | — | — | — | 1 |
| Stock-based compensation expense | — | — | — | — | 6,462 | — | — | — | 6,462 |
| Balance at June 30, 2025 | 325,164,802 | $33 | 12,894,517 | $(53,885) | $3,474,653 | $(2,728,182) | $(7,351) | $(1,694) | $683,574 |
| Accumulated · Advantage | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Additional · Other · Solutions Inc. · Total | |||||||||||
| Common Stock · Treasury Stock · Paid-in · Accumulated · Loans to · Comprehensive · Stockholders' · Noncontrolling · Stockholders' | |||||||||||
| (in thousands, except share data) | Shares | Amount | Shares | Amount | Capital | Deficit | Topco | Loss | Equity | Interest | Equity |
| Balance at April 1, 2024 | 323,894,143 | $32 | 6,600,075 | $(30,638) | $3,447,038 | $(2,319,957) | $(6,536) | $(6,662) | $1,083,277 | $906 | $1,084,183 |
| Comprehensive (loss) income | |||||||||||
| Net (loss) income | — | — | — | — | — | (100,835) | — | — | (100,835) | — | (100,835) |
| Foreign currency translation adjustments | — | — | — | — | — | — | — | (2,340) | (2,340) | 74 | (2,266) |
| Total comprehensive loss | — | — | — | — | — | — | — | — | (103,175) | 74 | (103,101) |
| Interest on loans to Karman Topco L.P. | — | — | — | — | — | — | (171) | — | (171) | — | (171) |
| Purchase of treasury stock | (2,275,095) | — | 2,275,095 | (9,086) | — | — | — | — | (9,086) | — | (9,086) |
| Equity-based compensation of Karman Topco L.P. | — | — | — | — | (872) | — | — | — | (872) | — | (872) |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | — | — | — | — | (1,425) | — | — | — | (1,425) | — | (1,425) |
| Shares issued under 2020 Incentive Award Plan | 1,401,548 | — | — | — | — | — | — | — | — | — | — |
| Sale of a business | — | — | — | — | — | — | — | (2,431) | (2,431) | (980) | (3,411) |
| Stock-based compensation expense | — | — | — | — | 7,617 | — | — | — | 7,617 | — | 7,617 |
| Balance at June 30, 2024 | 323,020,596 | $32 | 8,875,170 | $(39,724) | $3,452,358 | $(2,420,792) | $(6,707) | $(11,433) | $973,734 | $— | $973,734 |
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
| Accumulated | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Additional · Other · Total | |||||||||
| Common Stock · Treasury Stock · Paid-in · Accumulated · Loans to · Comprehensive · Stockholders' | |||||||||
| (in thousands, except share data) | Shares | Amount | Shares | Amount | Capital | Deficit | Topco | Income (Loss) | Equity |
| Balance at January 1, 2025 | 320,773,096 | $32 | 12,400,075 | $(53,016) | $3,466,221 | $(2,641,612) | $(7,029) | $(15,861) | $748,735 |
| Comprehensive (loss) income | |||||||||
| Net (loss) income | — | — | — | — | — | (86,570) | — | — | (86,570) |
| Foreign currency translation adjustments | — | — | — | — | — | — | — | 14,167 | 14,167 |
| Total comprehensive (loss) income | — | — | — | — | — | — | — | — | (72,403) |
| Interest on loans to Karman Topco L.P. | — | — | — | — | — | — | (322) | — | (322) |
| Purchase of treasury stock | (494,442) | — | 494,442 | (869) | — | — | — | — | (869) |
| Equity-based compensation of Karman Topco L.P. | — | — | — | — | (1,524) | — | — | — | (1,524) |
| Shares issued under 2020 Employee Stock Purchase Plan | 377,989 | — | — | — | 993 | — | — | — | 993 |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | — | — | — | — | (3,624) | — | — | — | (3,624) |
| Shares issued under 2020 Incentive Award Plan | 4,508,159 | 1 | — | — | — | — | — | — | 1 |
| Stock-based compensation expense | — | — | — | — | 12,587 | — | — | — | 12,587 |
| Balance at June 30, 2025 | 325,164,802 | $33 | 12,894,517 | $(53,885) | $3,474,653 | $(2,728,182) | $(7,351) | $(1,694) | $683,574 |
| Accumulated · Advantage | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Additional · Other · Solutions Inc. · Total | |||||||||||
| Common Stock · Treasury Stock · Paid-in · Accumulated · Loans to · Comprehensive · Stockholders' · Noncontrolling · Stockholders' | |||||||||||
| (in thousands, except share data) | Shares | Amount | Shares | Amount | Capital | Deficit | Topco | Income (Loss) | Equity | Interest | Equity |
| Balance at January 1, 2024 | 322,235,261 | $32 | 3,600,075 | $(18,949) | $3,449,261 | $(2,314,650) | $(6,387) | $(3,945) | $1,105,362 | $(1,285) | $1,104,077 |
| Comprehensive (loss) income | |||||||||||
| Net (loss) income | — | — | — | — | — | (106,142) | — | — | (106,142) | 2,192 | (103,950) |
| Foreign currency translation adjustments | — | — | — | — | — | — | — | (5,057) | (5,057) | 73 | (4,984) |
| Total comprehensive (loss) income | — | — | — | — | — | — | — | — | (111,199) | 2,265 | (108,934) |
| Interest on loans to Karman Topco L.P. | — | — | — | — | — | — | (320) | — | (320) | — | (320) |
| Purchase of treasury stock | (5,275,095) | — | 5,275,095 | (20,775) | — | — | — | — | (20,775) | — | (20,775) |
| Equity-based compensation of Karman Topco L.P. | — | — | — | — | (480) | — | — | — | (480) | — | (480) |
| Shares issued under 2020 Employee Stock Purchase Plan | 581,954 | — | — | — | 1,167 | — | — | — | 1,167 | — | 1,167 |
| Payments for taxes related to net share settlement under 2020 Incentive Award Plan | — | — | — | — | (11,113) | — | — | — | (11,113) | — | (11,113) |
| Shares issued under 2020 Incentive Award Plan | 5,478,476 | — | — | — | — | — | — | — | — | — | — |
| Sale of a business | — | — | — | — | — | — | — | (2,431) | (2,431) | (980) | (3,411) |
| Stock-based compensation expense | — | — | — | — | 13,523 | — | — | — | 13,523 | — | 13,523 |
| Balance at June 30, 2024 | 323,020,596 | $32 | 8,875,170 | $(39,724) | $3,452,358 | $(2,420,792) | $(6,707) | $(11,433) | $973,734 | $— | $973,734 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.