Revenue for the three months ended March 31, 2026, increased by 8.0% to $704.1 million, up from $651.7 million in the prior year period. Net revenue grew by 3.6% to $584.6 million, with organic net revenue increasing by 1.6% ($8.8 million). Operating income decreased by 47.3% to $9.6 million, down from $18.3 million in Q1 2025. Net loss widened to $13.9 million, compared to a net loss of $5.3 million in Q1 2025. Net loss attributable to Stagwell Inc. common shareholders increased to $13.0 million, from $2.9 million in Q1 2025. Adjusted EBITDA increased by 9.0% to $89.7 million, with the Adjusted EBITDA margin expanding to 15.3% from 14.6% of net revenue. Cash and cash equivalents increased to $114.9 million as of March 31, 2026, from $104.5 million at December 31, 2025. Net cash used in operating activities improved by 55.9% to $26.5 million, primarily due to stronger working capital management. Long-term debt increased to $1.44 billion as of March 31, 2026, from $1.33 billion at December 31, 2025. The company acquired Wavelength Strategy LLC on January 30, 2026, for $10.2 million, including $5.6 million in Class A Common Stock and contingent consideration up to $24.8 million. The Board authorized an extension and a $350.0 million increase to the stock repurchase program, bringing the total authorization to $725.0 million, expiring March 4, 2029. During Q1 2026, 7.3 million shares of Class A Common Stock were repurchased for $44.9 million, with $356.2 million remaining under the program.