Advantage Solutions

May 10, 2023

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Mar 31, 2023

Advantage Solutions Q1 2023 Earnings Report

Advantage Solutions' first quarter performance in 2023 showed revenue growth but a decrease in profitability.

Key Takeaways

Advantage Solutions reported a 10.6% increase in revenue to $1.0 billion for Q1 2023, driven by growth in both the Sales and Marketing segments. However, the company experienced an operating loss of $8.3 million and a net loss of $47.7 million, with Adjusted EBITDA decreasing by 4.8% to $92.1 million.

Revenues increased by 10.6% year-over-year to $1.012 billion, or 12.1% excluding foreign exchange impacts.

Operating loss was $8.3 million, a decrease of $31.3 million compared to the prior year's operating income of $23.0 million.

Net loss was $47.7 million, a decrease of $65.2 million compared to the prior year's net income of $17.5 million.

Adjusted EBITDA decreased by 4.8% to $92.1 million.