Advantage Solutions Inc. has recently released its 10-K report, providing a detailed look at its financial performance and operations for the year ended December 31, 2023. The company operates as a leading business solutions provider to consumer goods manufacturers and retailers, offering a range of sales and marketing services in North America and internationally. In 2023, Advantage Solutions had two reportable segments: sales and marketing, generating 57.9% and 42.1% of total revenues, respectively.
In 2023, the company reported revenues of $4,224.8 million, representing a 4.3% increase from 2022. The operating loss decreased to $76.2 million, and the net loss decreased to $60.3 million. Adjusted net income decreased by 40.1% to $123.8 million, and adjusted EBITDA decreased by 2.7% to $424.3 million.
Several significant events impacted Advantage Solutions' financial results, including the divestiture of foodservice businesses and the deconsolidation of Advantage Smollan Limited (ASL). The company recognized a non-cash intangible asset impairment charge of $43.5 million related to its indefinite-lived sales trade name in 2023.
Advantage Solutions highlighted various factors affecting its business and financial reporting, including organic growth, acquisitions and divestitures, contingent consideration, depreciation and amortization, impairment of goodwill and indefinite-lived assets, foreign exchange fluctuations, and seasonality.
The company assesses its performance by analyzing revenue growth, distinguishing between organic revenues and acquired revenues. Organic revenues exclude the impacts of acquisitions and divestitures, while acquired revenues are tracked separately for financial performance.
For the full picture, make sure to review Advantage Solutions's 10-K report.
