Advantage Solutions Inc.

Listed Company

ADVCIK 0001776661NasdaqAcceleratedServices-Business Services, NecFY ends Dec 31

Period

FY 2025

Revenue

$3.54B

Net Income

$-227.74M

Total Assets

$2.79B

Equity

$553.96M

Shares Out

327.51M

Op. Cash Flow

$61.53M

Business

Advantage Solutions Inc. provides omni-channel business solutions to consumer-packaged goods companies and retailers, acting as a strategic partner to increase sales and operational efficiency. It offers brokerage (headquarter sales), retail merchandising, in-store and digital sampling, omni-commerce marketing, private brand development, supply chain and logistics, analytics and retail media services. The company operates through three primary segments — Branded Services, Experiential Services and Retailer Services — delivering integrated sales, merchandising, marketing and advisory capabilities. Its services reach brands and retailers across physical and digital retail channels nationwide and internationally through direct retailer relationships and field teams.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	3,543	3,566	3,900	3,646	3,602
Cost of revenues (exclusive of depreciation and amortization shown separately below)	3,048	3,059	3,415	3,173	2,964
Selling, general, and administrative expenses	276	325	250	175	168
Impairment of goodwill and indefinite-lived asset	204	275	44	1,573	0
Depreciation and amortization	202	205	209	216	240
Income from investment in European joint venture and other	−7	−2	−5	—	—
Gain on legal matters	−26	0	0	—	—
Gain on divestitures and deconsolidation of subsidiaries	−28	0	−59	—	—
Total operating expenses	3,669	3,861	3,854	5,140	3,372
Operating (loss) income from continuing operations	−126	−295	47	−1,494	230
Change in fair value of warrant liabilities	−83,000	−584,000	−286,000	−21	955,000
Interest expense, net	139	147	166	104	—
Total other expenses, net	139	146	165	83	139
Loss from continuing operations before benefit from income taxes	−265	−441	−119	−1,577	91
Benefit from income taxes from continuing operations	−38	−63	−38	−158	34
Net loss from continuing operations	−228	−378	−81	−1,419	58
Net income from discontinued operations, net of tax	0	54	21	41	—
Net loss	−228	−325	−60	−1,377	—
Less: net income from continuing operations attributable to noncontrolling interest, net of tax	0	0	2	4	—
Less: net income from discontinued operations attributable to noncontrolling interest, net of tax	0	2	594,000	−546,000	—
Net loss attributable to stockholders of Advantage Solutions Inc.	−228	−327	−63	−1,381	54
Basic loss per common share from continuing operations attributable to stockholders of Advantage Solutions Inc.	−0.7	−1.18	−0.26	−4.46	—
Basic income per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc.	0	0.16	0.06	0.13	—
Diluted loss per common share from continuing operations attributable to stockholders of Advantage Solutions Inc.	−0.7	−1.18	−0.26	−4.46	—
Diluted income per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc.	0	0.16	0.06	0.13	—
Basic	325	322	324	319	318
Diluted	325	322	324	319	321
Foreign currency translation adjustments	12	−9	6	−14	−5
Total comprehensive loss attributable to stockholders of Advantage Solutions Inc.	−216	−336	−58	−1,395	49

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	241	205	121	118	165
Restricted cash	12	16	16	18	16
Accounts receivable, net of allowance for expected credit losses of $16,771 and $13,047, respectively	595	603	659	869	—
Prepaid expenses and other current assets	125	87	116	149	126
Total current assets	973	911	1,012	1,157	1,104
Property, equipment, and capitalized software, net	116	98	65	71	64
Goodwill	439	477	710	725	2,206
Other intangible assets, net	994	1,333	1,552	1,898	2,288
Investments in unconsolidated affiliates	234	227	211	130	125
Other assets	38	62	44	120	68
Total assets	2,793	3,107	3,779	4,262	5,854
Current portion of long-term debt	13	13	13	14	14
Accounts payable	162	158	173	261	277
Accrued compensation and benefits	121	129	161	155	139
Other accrued expenses	105	135	144	133	164
Deferred revenues	30	24	27	37	50
Total current liabilities	433	460	541	601	646
Long-term debt, net of current portion	1,661	1,687	1,848	2,023	2,029
Deferred income tax liabilities	90	147	204	298	483
Other long-term liabilities	56	64	75	111	92
Total liabilities	2,239	2,358	2,675	3,033	3,272
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, no par value, 10,000,000 shares authorized; none issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	0	0	0	0	0
Common stock, $0.0001 par value, 3,290,000,000 shares authorized; 326,429,909 and 320,773,096 shares issued and outstanding as of December 31, 2025 and 2024, respectively	33,000	32,000	32,000	32,000	32,000
Additional paid in capital	3,489	3,466	3,449	3,409	3,373
Accumulated deficit	−2,869	−2,642	−2,315	−2,247	−867
Loans to Karman Topco L.P.	−8	−7	−6	−6	−6
Accumulated other comprehensive loss	−4	−16	−4	−19	−4
Treasury stock, at cost; 12,894,517 and 12,400,075 shares as of December 31, 2025 and 2024, respectively	−54	−53	−19	−13	−13
Total stockholders' equity	554	749	1,104	1,226	2,580
Total liabilities and stockholders' equity	2,793	3,107	3,779	4,262	5,854

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash adjustments on derivatives and non-cash interest expense (income)	−2	5	−8	—	—
Amortization of deferred financing fees	7	7	8	9	9
Impairment of goodwill and indefinite-lived asset	204	275	44	1,573	0
Fair value adjustments related to contingent consideration	0	2	11	7	6
Deferred income taxes	−58	—	—	—	−10
Equity-based compensation of Karman Topco L.P.	−2	723,000	−3	−7	−15
Stock-based compensation	27	31	39	35	39
Income from investment in European joint venture and other	−7	−2	−6	—	—
Distribution received from equity method investments	2	3	2	2	—
Gain on divestiture and deconsolidation of subsidiaries	−28	0	−59	—	—
Gain on repurchases of Senior Secured Notes and Term Loan Facility debt	−2	−9	−9	0	—
Other	282,000	2	3	−44	−8
Accounts receivable, net	8	51	39	−86	−216
Prepaid expenses and other assets	−31	28	101	15	−14
Accounts payable	5	−13	−23	−14	46
Accrued compensation and benefits	−11	−30	27	18	−2
Deferred revenues	7	−2	9	−11	−3
Other accrued expenses and other liabilities	−33	−24	5	30	−5
Net cash provided by operating activities	62	93	228	105	126
Purchase of investments in unconsolidated affiliates	−4	−14	−3	−775,000	−2
Purchase of property and equipment	−6	−8	−21	−12	−31
Purchase and development of capitalized software	−46	−48	−21	−21	—
Proceeds from divestitures	60	276	21	2	0
Deconsolidation of subsidiaries cash and cash equivalents and restricted cash, net of proceeds	0	0	−31	0	0
Proceeds from sale of investments in unconsolidated affiliates	0	0	4	0	0
Net cash (used in) provided by investing activities	4	206	−51	−106	−76
Borrowings under lines of credit	90	0	100	326	62
Payments on lines of credit	−90	0	−99	−327	−112
Principal payments on long-term debt	−13	−13	−13	−13	−13
Repurchases of Senior Secured Notes and Term Loan Facility debt	−18	−147	−157	0	0
Debt issuance costs	0	−971,000	0	0	—
Deferred consideration paid for purchases in unconsolidated affiliates	−2	0	0	—	—
Contingent consideration payments	0	−6	−2	−13	−10
Proceeds from employee stock purchase plan	2	2	2	—	—
Payments for taxes related to net share settlement of equity awards	−4	−13	−2	—	—
Holdback payments	0	0	−944,000	−11	−4
Redemption of noncontrolling interest	0	0	−154,000	−224,000	−209,000
Purchase of treasury stock	−869,000	−34	−6	0	−13
Net cash used in financing activities	−36	−211	−178	−31	−86
Net effect of foreign currency changes on cash, cash equivalents and restricted cash	3	−5	2	—	—
Net change in cash, cash equivalents and restricted cash	32	84	1	−41	−39

Filings

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