Advantage Solutions Inc. is a provider of outsourced sales and marketing services to consumer goods manufacturers and retailers, primarily operating in North America. The company offers retail merchandising, in-store sampling, digital marketing, and private brand development to help clients optimize shelf presence and consumer engagement. It acts as a critical intermediary in the consumer packaged goods ecosystem, bridging the gap between brands and retail channels across physical and digital environments.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Revenues
3,542,642
3,566,324
3,900,125
3,646,342
Cost of revenues (exclusive of depreciation and amortization)
3,048,295
3,059,052
3,415,046
3,173,493
Selling, general, and administrative expenses
276,060
324,596
250,235
175,360
Impairment of goodwill and indefinite-lived assets
203,685
275,170
43,500
1,572,523
Depreciation and amortization
202,258
204,553
208,856
216,046
Income from investment in European joint venture and other
(7,491)
(2,064)
(5,210)
—
Gain on legal matters
(25,716)
—
—
—
Gain on divestitures and deconsolidation of subsidiaries
(27,983)
—
(58,891)
—
Loss on divestitures
—
—
—
2,863
Total operating expenses
3,669,108
3,861,307
3,853,536
5,140,285
Operating (loss) income from continuing operations
(126,466)
(294,983)
46,589
(1,493,943)
Change in fair value of warrant liabilities
(83)
(584)
(286)
(21,236)
Interest expense, net
138,936
146,792
165,734
104,387
Total other expenses, net
138,853
146,208
165,448
83,151
Loss from continuing operations before income taxes
(265,319)
(441,191)
(118,859)
(1,577,094)
Benefit from income taxes from continuing operations
(37,584)
(62,787)
(37,648)
(158,442)
Net loss from continuing operations
(227,735)
(378,404)
(81,211)
(1,418,652)
Net income from discontinued operations, net of tax
—
53,634
20,829
41,350
Net loss
(227,735)
(324,770)
(60,382)
(1,377,302)
Less: net income from continuing operations attributable to noncontrolling interest, net of tax
—
—
2,346
3,757
Less: net income (loss) from discontinued operations attributable to noncontrolling interest, net of tax
—
2,192
594
(546)
Net loss attributable to stockholders of Advantage Solutions Inc.
(227,735)
(326,962)
(63,322)
(1,380,513)
Basic loss per common share from continuing operations
(0.70)
(1.18)
(0.26)
(4.46)
Basic income per common share from discontinued operations
—
0.16
0.06
0.13
Diluted loss per common share from continuing operations
(0.70)
(1.18)
(0.26)
(4.46)
Diluted income per common share from discontinued operations
—
0.16
0.06
0.13
Weighted-average common shares outstanding — basic (thousands)
324,564
321,516
323,678
318,683
Weighted-average common shares outstanding — diluted (thousands)
324,564
321,516
323,678
318,683
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
240,850
205,233
120,839
120,715
Total Cash and Cash Equivalents
240,850
205,233
120,839
120,715
Accounts Receivable
594,999
603,069
659,499
869,000
Total Trade Receivables
594,999
603,069
659,499
869,000
Other Current Assets
136,766
102,436
231,696
167,293
Total Current Assets
972,615
910,738
1,012,034
1,157,008
Net Property, Plant & Equipment
115,858
97,763
64,708
70,898
Net Intangible Assets
993,927
1,332,578
1,551,828
1,897,503
Goodwill
438,900
477,021
710,191
887,949
Long-Term Investments
234,138
226,510
210,829
129,491
Other Long-Term Assets
37,977
61,907
229,733
119,522
Total Assets
2,793,415
3,106,517
3,779,323
4,262,371
Accounts Payable
162,376
158,485
172,894
261,464
Accrued Expenses
226,554
264,163
305,862
287,917
Current Portion of Long-Term Debt
13,250
13,250
13,274
13,991
Unearned Revenue
30,454
24,164
26,598
37,329
Other Current Liabilities
—
—
22,669
—
Total Current Liabilities
432,634
460,062
541,297
600,701
Long-Term Debt
1,660,611
1,686,690
1,848,118
2,022,819
Other Long-Term Liabilities
146,212
211,030
285,831
409,381
Total Long-Term Liabilities
1,806,823
1,897,720
2,133,949
2,432,200
Total Liabilities
2,239,457
2,357,782
2,675,246
3,032,901
Common Stock
33
32
32
32
Treasury Stock
(53,885)
(53,016)
(18,949)
(12,567)
Additional Paid-in Capital
3,488,988
3,466,221
3,449,261
3,408,836
Accumulated Other Comprehensive Income
(11,831)
(22,890)
(10,332)
(25,212)
Retained Earnings
(2,869,347)
(2,641,612)
(2,314,650)
(2,247,109)
Total Common Shareholders' Equity
553,958
748,735
1,105,362
1,123,980
Minority Interests and Other
—
—
—
3,746
Total Shareholders' Equity
553,958
748,735
1,105,362
1,127,726
Total Liabilities and Shareholders' Equity
2,793,415
3,106,517
3,780,608
4,160,627
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(227,735)
(378,404)
(81,211)
(1,418,652)
Depreciation & Amortization
202,258
204,553
208,856
216,046
Share-Based Compensation Expense
25,391
31,742
36,409
28,167
Other Adjustments
116,069
225,387
(93,135)
1,326,879
Changes in Trade Receivables
7,995
51,154
38,899
(85,737)
Changes in Accounts Payable
5,271
(12,918)
(23,066)
(14,164)
Changes in Accrued Expenses
(10,665)
(30,380)
27,458
17,854
Changes in Unearned Revenue
7,335
(2,129)
8,551
(10,930)
Changes in Other Operating Activities
(64,387)
4,090
105,731
45,242
Cash from Operating Activities
61,532
93,095
228,492
104,705
Capital Expenditure
(6,477)
(7,838)
(20,691)
(12,351)
Purchases of Intangible Assets
(46,434)
(47,501)
(20,872)
(20,664)
Purchases of Investments
(3,736)
(13,932)
(3,023)
(775)
Proceeds from Sale of Investments
—
—
4,428
—
Payments for Business Acquisitions
—
—
—
(74,206)
Proceeds from Business Divestments
60,491
275,717
21,108
1,896
Other Investing Activities
—
—
(31,465)
—
Cash from Investing Activities
3,844
206,446
(50,515)
(106,100)
Issuance of Short-Term Debt
90,000
—
99,538
326,090
Repayments of Short-Term Debt
(90,000)
—
(99,102)
(326,968)
Net Issuance / (Repayments) of Short-Term Debt
0
—
436
(878)
Repayments of Long-Term Debt
(31,468)
(160,253)
(169,853)
(13,293)
Net Issuance / (Repayments) of Long-Term Debt
(31,468)
(160,253)
(169,853)
(13,293)
Issuance of Common Shares
1,838
2,294
2,248
3,320
Repurchases of Common Shares
(4,465)
(46,832)
(8,262)
(13,002)
Net Issuance / (Repurchases) of Common Shares
(2,627)
(44,538)
(6,014)
(9,682)
Other Financing Activities
(2,113)
(6,626)
(2,965)
(7,528)
Cash from Financing Activities
(36,208)
(211,417)
(178,396)
(31,381)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
3,068
(4,575)
1,800
(7,872)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash