ADVANTAGE SOLUTIONS INC., 10-Q filed on 11/6/2025
Quarterly Report
v3.25.3
Cover Page - shares
 9 Months Ended
Sep. 30, 2025
Nov. 04, 2025
Document Information [Line Items]    
Entity Registrant Name Advantage Solutions Inc.  
Entity Central Index Key 0001776661  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Type 10-Q  
Document Period End Date Sep. 30, 2025  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2025  
Document Quarterly Report true  
Document Transition Report false  
Entity Current Reporting Status Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business false  
Entity Shell Company false  
Entity Emerging Growth Company false  
Entity File Number 001-38990  
Entity Interactive Data Current Yes  
Entity Incorporation State Country Code DE  
Entity Common Stock, Shares Outstanding   326,271,915
Entity Tax Identification Number 83-4629508  
Title of 12(b) Security Class A common stock, $0.0001 par value per share  
Trading Symbol ADV  
Security Exchange Name NASDAQ  
Entity Address, Address Line One 7676 Forsyth Boulevard.  
Entity Address, Address Line Two Fifth Floor  
Entity Address, City or Town St. Louis  
Entity Address, State or Province MO  
Entity Address, Postal Zip Code 63105  
City Area Code 314  
Local Phone Number 655-9333  
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 201,137 $ 205,233
Restricted cash 12,111 15,518
Accounts receivable, net of allowance for expected credit losses of $16,811 and $13,047, respectively 635,353 603,069
Prepaid expenses and other current assets 95,279 86,918
Total current assets 943,880 910,738
Property and equipment, net 100,809 97,763
Goodwill 477,021 477,021
Other intangible assets, net 1,203,881 1,332,578
Investments in unconsolidated affiliates 232,382 226,510
Other assets 35,549 61,907
Total assets 2,993,522 3,106,517
Current liabilities    
Current portion of long-term debt 13,250 13,250
Accounts payable 167,222 158,485
Accrued compensation and benefits 98,785 129,486
Other accrued expenses 119,798 134,677
Deferred revenues 29,828 24,164
Total current liabilities 428,883 460,062
Long-term debt, net of current portion 1,662,158 1,686,690
Deferred income tax liabilities 137,287 146,889
Other long-term liabilities 56,695 64,141
Total liabilities 2,285,023 2,357,782
Commitments and contingencies (Note 9)
Equity attributable to stockholders of Advantage Solutions Inc.    
Common stock, $0.0001 par value, 3,290,000,000 shares authorized; 325,964,565 and 320,773,096 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 33 32
Additional paid in capital 3,482,842 3,466,221
Accumulated deficit (2,707,617) (2,641,612)
Loans to Karman Topco L.P. (7,512) (7,029)
Accumulated other comprehensive loss (5,362) (15,861)
Treasury stock, at cost; 12,894,517 and 12,400,075 shares as of June 30, 2025 and December 31, 2024, respectively (53,885) (53,016)
Total stockholders' equity 708,499 748,735
Total liabilities and stockholders' equity $ 2,993,522 $ 3,106,517
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Accounts receivable, net of allowances $ 16,811 $ 13,047
Common stock, par or stated value per share $ 0.0001 $ 0.0001
Common stock, shares authorized 3,290,000,000 3,290,000,000
Common stock, shares issued 325,964,565 320,773,096
Common stock, shares outstanding 325,964,565 320,773,096
Treasury stock, common, shares 12,894,517 12,400,075
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues $ 915,012 $ 939,270 $ 2,610,511 $ 2,674,039
Cost of revenues (exclusive of depreciation and amortization shown separately below) 776,421 794,958 2,246,107 2,298,139
Selling, general, and administrative expenses 57,568 98,438 191,090 250,377
Impairment of goodwill 0 0 0 99,670
Depreciation and amortization 50,743 51,866 151,802 152,931
Income from equity method investments (1,408) (2,815) (5,566) (2,692)
Gain on divestitures (8,472) 0 (8,472) 0
Total operating expenses 874,852 942,447 2,574,961 2,798,425
Operating income (loss) from continuing operations 40,160 (3,177) 35,550 (124,386)
Other expenses (income):        
Change in fair value of warrant liabilities (109) 40 (83) (359)
Interest expense, net 34,954 38,969 105,128 114,484
Total other expenses, net 34,845 39,009 105,045 114,125
Income (loss) from continuing operations before benefit from income taxes 5,315 (42,186) (69,495) (238,511)
Benefit from income taxes from continuing operations (15,250) (4,866) (3,490) (38,042)
Net income (loss) from continuing operations 20,565 (37,320) (66,005) (200,469)
Net (loss) income from discontinued operations, net of tax 0 (5,456) 0 53,743
Net income (loss) 20,565 (42,776) (66,005) (146,726)
Less: net income from discontinued operations attributable to noncontrolling interest, net of tax 0 0 0 2,192
Net income (loss) attributable to stockholders of Advantage Solutions Inc. $ 20,565 $ (42,776) $ (66,005) $ (148,918)
Net income (loss) per common share:        
Basic income (loss) per common share from continuing operations attributable to stockholders of Advantage Solutions Inc. $ 0.06 $ (0.12) $ (0.2) $ (0.62)
Basic (loss) income per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc. 0 (0.02) 0 0.17
Diluted net income (loss) per share:        
Diluted income (loss) per common share from continuing operations attributable to stockholders of Advantage Solutions Inc. 0.06 (0.12) (0.2) (0.62)
Diluted (loss) income per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc. $ 0 $ (0.02) $ 0 $ 0.17
Weighted-average number of common shares:        
Basic 325,921,176 321,080,571 323,988,621 321,774,115
Diluted 339,847,197 321,080,571 323,988,621 321,774,115
Comprehensive Income (Loss):        
Net Income (Loss) $ 20,565 $ (42,776) $ (66,005) $ (148,918)
Other comprehensive income (loss), net of tax:        
Foreign currency translation adjustments (3,668) 8,132 10,499 3,075
Total comprehensive income (loss) attributable to stockholders of Advantage Solutions Inc. $ 16,897 $ (34,644) $ (55,506) $ (145,843)
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Common Stock [Member]
Treasury Stock
Additional Paid-in Capital
Accumulated Deficit
Loans to Parent
Accumulated Other Comprehensive Income Loss
Advantage Solutions Inc. Stockholders' Equity
Noncontrolling Interest
Beginning Balance at Dec. 31, 2023 $ 1,104,077 $ 32 $ (18,949) $ 3,449,261 $ (2,314,650) $ (6,387) $ (3,945) $ 1,105,362 $ (1,285)
Beginning Balance, Shares at Dec. 31, 2023   322,235,261              
Beginning Balance, Shares at Dec. 31, 2023     3,600,075            
Net (loss) income (146,726)             (148,918)  
Net Income (Loss) (148,918)       (148,918)       2,192
Foreign currency translation adjustments 3,148           3,075 3,075 73
Total comprehensive (loss) income (143,578)             (145,843) 2,265
Interest on loans to Karman Topco L.P. (481)         (481)   (481)  
Purchase of treasury stock (34,067)   $ (34,067)         (34,067)  
Purchase of treasury stock, shares   (8,800,000) 8,800,000            
Equity-based compensation of Karman Topco L.P. (658)     (658)       (658)  
Shares issued under 2020 Employee Stock Purchase Plan 2,294     2,294       2,294  
Shares issued under 2020 Employee Stock Purchase Plan, Shares   983,808              
Payments for taxes related to net share settlement under 2020 Incentive Award Plan (11,663)     (11,663)       (11,663)  
Shares issued under 2020 Incentive Award Plan, Shares   5,999,014              
Sale of a business (3,411)           (2,431) (2,431) (980)
Stock-based compensation expense 20,018     20,018       20,018  
Ending Balance at Sep. 30, 2024 932,531 $ 32 $ (53,016) 3,459,252 (2,463,568) (6,868) (3,301) 932,531 0
Ending Balance, Shares at Sep. 30, 2024   320,418,083              
Ending Balance, Shares at Sep. 30, 2024     12,400,075            
Beginning Balance at Jun. 30, 2024 973,734 $ 32 $ (39,724) 3,452,358 (2,420,792) (6,707) (11,433)    
Beginning Balance, Shares at Jun. 30, 2024   323,020,596              
Beginning Balance, Shares at Jun. 30, 2024     8,875,170            
Net Income (Loss) (42,776)       (42,776)        
Foreign currency translation adjustments 8,132           8,132    
Total comprehensive (loss) income (34,644)                
Interest on loans to Karman Topco L.P. (161)         (161)      
Purchase of treasury stock (13,292)   $ (13,292)            
Purchase of treasury stock, shares   (3,524,905) 3,524,905            
Equity-based compensation of Karman Topco L.P. (178)     (178)          
Shares issued under 2020 Employee Stock Purchase Plan 1,123     1,123          
Shares issued under 2020 Employee Stock Purchase Plan, Shares   401,854              
Payments for taxes related to net share settlement under 2020 Incentive Award Plan (550)     (550)          
Shares issued under 2020 Incentive Award Plan, Shares   520,538              
Stock-based compensation expense 6,499     6,499          
Ending Balance at Sep. 30, 2024 932,531 $ 32 $ (53,016) 3,459,252 (2,463,568) (6,868) (3,301) $ 932,531 $ 0
Ending Balance, Shares at Sep. 30, 2024   320,418,083              
Ending Balance, Shares at Sep. 30, 2024     12,400,075            
Beginning Balance at Dec. 31, 2024 $ 748,735 $ 32 $ (53,016) 3,466,221 (2,641,612) (7,029) (15,861)    
Beginning Balance, Shares at Dec. 31, 2024   320,773,096              
Beginning Balance, Shares at Dec. 31, 2024 12,400,075   12,400,075            
Net (loss) income $ (66,005)                
Net Income (Loss) (66,005)       (66,005)        
Foreign currency translation adjustments 10,499           10,499    
Total comprehensive (loss) income (55,506)                
Interest on loans to Karman Topco L.P. (483)         (483)      
Purchase of treasury stock (869)   $ (869)            
Purchase of treasury stock, shares   (494,442) 494,442            
Equity-based compensation of Karman Topco L.P. (1,524)     (1,524)          
Shares issued under 2020 Employee Stock Purchase Plan 1,838     1,838          
Shares issued under 2020 Employee Stock Purchase Plan, Shares   1,089,303              
Payments for taxes related to net share settlement under 2020 Incentive Award Plan (3,698)     (3,698)          
Shares issued under 2020 Incentive Award Plan 1 $ 1              
Shares issued under 2020 Incentive Award Plan, Shares   4,596,608              
Stock-based compensation expense 20,005     20,005          
Ending Balance at Sep. 30, 2025 $ 708,499 $ 33 $ (53,885) 3,482,842 (2,707,617) (7,512) (5,362)    
Ending Balance, Shares at Sep. 30, 2025   325,964,565              
Ending Balance, Shares at Sep. 30, 2025 12,894,517   12,894,517            
Beginning Balance at Jun. 30, 2025 $ 683,574 $ 33 $ (53,885) 3,474,653 (2,728,182) (7,351) (1,694)    
Beginning Balance, Shares at Jun. 30, 2025   325,164,802              
Beginning Balance, Shares at Jun. 30, 2025     12,894,517            
Net (loss) income 20,565                
Net Income (Loss) 20,565       20,565        
Foreign currency translation adjustments (3,668)           (3,668)    
Total comprehensive (loss) income 16,897                
Interest on loans to Karman Topco L.P. (161)         (161)      
Shares issued under 2020 Employee Stock Purchase Plan 845     845          
Shares issued under 2020 Employee Stock Purchase Plan, Shares   711,314              
Payments for taxes related to net share settlement under 2020 Incentive Award Plan (74)     (74)          
Shares issued under 2020 Incentive Award Plan, Shares   88,449              
Stock-based compensation expense 7,418     7,418          
Ending Balance at Sep. 30, 2025 $ 708,499 $ 33 $ (53,885) $ 3,482,842 $ (2,707,617) $ (7,512) $ (5,362)    
Ending Balance, Shares at Sep. 30, 2025   325,964,565              
Ending Balance, Shares at Sep. 30, 2025 12,894,517   12,894,517            
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss from continuing operations $ (66,005) $ (200,469)
Adjustments to reconcile net loss to net cash provided by operating activities    
Non-cash mark-to-market adjustments on derivatives and non-cash interest expense (2,131) 1,664
Deferred financing fees related to repricing of long-term debt 0 1,079
Amortization of deferred financing fees 5,272 5,137
Impairment of goodwill 0 99,670
Depreciation and amortization 151,802 152,931
Change in fair value of warrant liability (83) (359)
Fair value adjustments related to contingent consideration 0 1,678
Deferred income taxes (9,757) (16,241)
Equity-based compensation of Karman Topco L.P. (1,524) (658)
Stock-based compensation 20,483 24,224
Income from equity method investments (5,566) (2,692)
Distribution received from equity method investments 0 3,289
Gain on divestitures (8,472) 0
Gain on repurchases of Senior Secured Notes and Term Loan Facility debt (1,624) (9,141)
Loss on disposal of property and equipment 325 775
Changes in operating assets and liabilities, net of effects from divestitures:    
Accounts receivable, net (30,077) (9,550)
Prepaid expenses and other assets (1,901) 30,567
Accounts payable 10,160 25,435
Accrued compensation and benefits (32,860) (43,849)
Deferred revenues 6,239 2,992
Other accrued expenses and other liabilities (18,379) 11,527
Net cash provided by operating activities 15,902 78,009
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investments in unconsolidated affiliates (3,623) (13,932)
Purchase of property and equipment (28,662) (50,358)
Proceeds from divestitures, net of cash received 18,612 275,717
Net cash (used in) provided by investing activities (13,673) 211,427
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings under lines of credit 90,000 0
Payments on lines of credit (90,000) 0
Principal payments on long-term debt (9,938) (9,938)
Repurchases of Senior Secured Notes and Term Loan Facility debt (18,243) (147,122)
Debt issuance costs 0 (971)
Deferred consideration paid for purchases in unconsolidated affiliates (1,500) 0
Deferred proceeds received from sale of Jun Group and contingent consideration payments 22,500 (5,655)
Proceeds from issuance of common stock 1,838 2,294
Payments for taxes related to net share settlement under 2020 Incentive Award Plan (3,698) (11,663)
Purchase of treasury stock (869) (34,067)
Net cash used in financing activities (9,910) (207,122)
Net effect of foreign currency changes on cash, cash equivalents and restricted cash 178 (1,405)
Net change in cash, cash equivalents and restricted cash (7,503) 80,909
Cash, cash equivalents and restricted cash, beginning of period 220,751 131,560
Cash, cash equivalents and restricted cash, end of period 213,248 212,469
SUPPLEMENTAL CASH FLOW INFORMATION    
Purchases of property and equipment recorded in accounts payable and accrued expenses $ 4,841 $ 4,650
v3.25.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 20,565 $ (42,776) $ (66,005) $ (148,918)
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Organization and Significant Accounting Policies
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Significant Accounting Policies

1. Organization and Significant Accounting Policies

Advantage Solutions Inc. (the “Company”) is a provider of outsourced solutions to consumer goods companies and retailers. The Company’s Class A common stock is listed on the Nasdaq Global Select Market under the symbol “ADV” and warrants to purchase the Class A common stock at an exercise price of $11.50 per share were listed on the Nasdaq Global Select Market under the symbol “ADVWW”.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. The unaudited condensed consolidated financial statements do not include all of the information required by accounting principles generally accepted in the United States (“GAAP”). The Condensed Consolidated Balance Sheet at December 31, 2024 was derived from the audited Consolidated Balance Sheet at that date and does not include all the disclosures required by GAAP. In the opinion of management, all adjustments which are of a normal recurring nature and necessary for a fair statement of the results as of September 30, 2025 and for the three and nine months ended September 30, 2025 and 2024 have been reflected in the condensed consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2024 and the related footnotes thereto. Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period.

As of January 1, 2024, the Company reorganized its portfolio of businesses into a new, simplified structure that more closely aligns its business capabilities with economic buyers. The Company's revised operating and reportable segments consist of Branded Services, Experiential Services, and Retailer Services. As a result of this reorganization, the Company identified non-core businesses for disposition (“Divestiture Plan”). In the first quarter of fiscal year 2024, the Company determined its Divestiture Plan met the criteria for discontinued operations as it represented a strategic shift that had a major effect on the Company’s operations and financial results. As such, the results of businesses meeting the criteria to be classified as held for sale or disposed of in accordance with the Company’s Divestiture Plan were reclassified to discontinued operations.

The notes to the condensed consolidated financial statements are presented on a continuing operations basis unless otherwise noted. Refer to Note 2—Discontinued Operations for additional information on the Company’s discontinued operations.

Revenue Recognition

The Company recognizes revenue when control of promised goods or services is transferred to the client in an amount that reflects the consideration that the Company expects to be entitled to in exchange for such goods or services. Substantially all of the Company’s contracts with clients involve the transfer of a service to the client, which represents a performance obligation that is satisfied over time because the client simultaneously receives and consumes the benefits of the services provided. In most cases, the contracts provide for a performance obligation that is comprised of a series of distinct services that are substantially the same and that have the same pattern of transfer (i.e., distinct days of service). For these contracts, the Company allocates the ratable portion of the consideration based on the services provided in each period of service to such period.

Revenues related to the Branded Services segment are primarily recognized in the form of commissions, fee-for-service and cost-plus fees for providing headquarter relationship management, execution of merchandising strategies and omni-commerce marketing services. Revenues within the Branded Services segment are further disaggregated between brokerage services, branded merchandising services and omni-commerce marketing services. Brokerage services revenues are primarily outsourced sales and services for branded consumer goods manufacturers at retailer headquarters, in-store and online. Branded merchandising services relate to merchandising in-store and online for branded consumer goods manufacturers. Omni-commerce marketing services primarily relate to digital and field marketing services.

Experiential Services segment revenues are primarily recognized in the form of fee-for-service and cost-plus fees for providing in-store, digital sampling and demonstrations, where the Company manages highly customized, large-scale sampling programs for leading brands and retailers.

Retailer Services segment revenues are primarily recognized in the form of commissions, fee-for-service and cost-plus fees for providing consulting services related to private brand development, the execution of merchandising strategies and marketing strategies within retailer locations, including retail media networks and analyzing shopper behavior. Revenues within the Retailer Services segment are further disaggregated between advisory services, retailer merchandising services and agency services to retailers. Advisory services primarily consist of consulting services related to private brand development. Retailer merchandising services primarily relate to the execution of merchandising strategies. Agency services primarily consist of providing marketing strategies within retail locations.

Disaggregated revenues were as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Branded Services

 

 

 

 

 

 

 

 

 

 

 

 

Brokerage services

 

$

105,313

 

 

$

123,965

 

 

$

311,292

 

 

$

373,961

 

Branded merchandising services

 

 

102,197

 

 

 

106,018

 

 

 

307,261

 

 

 

319,791

 

Omni-commerce marketing services

 

 

81,294

 

 

 

101,374

 

 

 

255,313

 

 

 

289,000

 

Total Branded Services revenues

 

$

288,804

 

 

$

331,357

 

 

$

873,866

 

 

$

982,752

 

Experiential Services

 

 

 

 

 

 

 

 

 

 

 

 

Experiential services

 

$

377,707

 

 

$

342,731

 

 

$

1,039,433

 

 

$

969,590

 

Total Experiential Services revenues

 

$

377,707

 

 

$

342,731

 

 

$

1,039,433

 

 

$

969,590

 

Retailer Services

 

 

 

 

 

 

 

 

 

 

 

 

Retail merchandising services

 

$

181,419

 

 

$

189,002

 

 

$

534,773

 

 

$

543,700

 

Advisory services

 

 

52,472

 

 

 

59,039

 

 

 

116,742

 

 

 

129,831

 

Agency services

 

 

14,610

 

 

 

17,141

 

 

 

45,697

 

 

 

48,166

 

Total Retailer Services revenues

 

$

248,501

 

 

$

265,182

 

 

$

697,212

 

 

$

721,697

 

Total revenues

 

$

915,012

 

 

$

939,270

 

 

$

2,610,511

 

 

$

2,674,039

 

Deferred revenues represent cash payments that are received in advance of the Company’s satisfaction of the applicable obligation and are included in Deferred revenues in the Condensed Consolidated Balance Sheets. Deferred revenues are recognized as revenues when the related services are performed for the client. Revenues recognized during the three and nine months ended September 30, 2025 that were included in Deferred revenues as of December 31, 2024 were $4.3 million and $20.1 million, respectively. Revenues recognized during the three and nine months ended September 30, 2024 included in Deferred revenues as of December 31, 2023 were $1.3 million and $18.1 million, respectively.

Accounting Standards Recently Issued but Not Yet Adopted by the Company

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires entities to expand their existing income tax disclosures, specifically related to the rate reconciliation and income taxes paid. The standard is effective for the Company’s annual report for fiscal year 2025. The new standard is expected to be applied prospectively, but retrospective application is permitted. The Company will adopt this standard prospectively for the year ending December 31, 2025. The adoption of this update is expected to impact only the Company’s disclosures and is not expected to have a material impact on the consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), and in January 2025, the FASB issued ASU 2025-01, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). ASU 2024-03 requires

public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03, as clarified by ASU 2025-01, is effective for the Company beginning in fiscal year 2026 and interim periods within fiscal year 2027, with early adoption permitted. The new standard is expected to be applied prospectively, but retrospective application is permitted. The Company is currently evaluating the impact of ASU 2024-03 on the consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), which modernizes the accounting for internal-use software costs to reflect incremental and iterative development methods. The amendments remove prescriptive development stages and require capitalization of software costs once management has authorized and committed to funding the project and it is probable the project will be completed and the software will be used as intended. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, including interim periods within those years, with early adoption permitted and application on a prospective, modified retrospective, or retrospective basis. The Company is currently evaluating the impact of ASU 2025-06 on the consolidated financial statements and related disclosures.

Other new accounting pronouncements recently issued or newly effective were not applicable to the Company, did not have a material impact on the condensed consolidated financial statements or are not expected to have a material impact on the condensed consolidated financial statements.
v3.25.3
Discontinued Operations
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Discontinued Operations

2. Discontinued Operations

2024 Divestitures

As discussed in Note 1—Organization and Significant Accounting Policies, as a result of a reorganization effectuated on January 1, 2024, the Company initiated its Divestiture Plan of certain non-core businesses for disposition. On January 31, 2024, and as part of this plan, the Company sold a collection of foodservice businesses. As part of the sale, the foodservice businesses were combined with an entity owned by the buyer, with the Company receiving approximately $91.0 million, subject to working capital adjustments and an ongoing 7.5% interest in the combined business. The ongoing ownership interest represents a continuing involvement which the Company has determined represents an equity method investment. Upon the close of the transaction, the retained 7.5% interest was recognized at fair value of $8.4 million, valued using unobservable inputs (i.e., Level 3 inputs), primarily discounted cash flows. The investment was reported in “Investments in unconsolidated affiliates” on the Condensed Consolidated Balance Sheets and equity income (loss) reported in “Income from equity method investments” on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2025 and 2024.

During the three months ended September 30, 2025, the Company sold its remaining 7.5% ownership interest in the combined foodservice business for $18.6 million in cash proceeds, resulting in a gain of $8.5 million. The sale of the remaining ownership interest did not represent a strategic shift that had (or will have) a major effect on the Company’s operations or financial results as contemplated by ASC 205-20, Presentation of Financial Statements—Discontinued Operations. Accordingly, the related results and gain on sale are presented as a component of continuing operations, with the gain recognized in “Gain on divestiture” within the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

During the nine months ended September 30, 2024, the Company sold two agencies in the Branded Services segment, one agency in the Experiential Services segment and one agency in the Retailer Services segment for a total of $65.2 million including estimated working capital adjustments. As a result, the Company recorded a gain from these divestitures of $70.2 million as a component of “Net income (loss) from discontinued operations, net of tax” in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Proceeds from the sales were classified as cash provided by investing activities from continuing operations in the Condensed Consolidated Statements of Cash Flows.

On July 31, 2024, the Company completed the sale of the Jun Group business, included in the Branded Services segment, in exchange for proceeds of approximately $185.0 million less any adjustments. The Company received approximately $130.0 million in cash upon completion of the sale. As part of the purchase agreement, the buyer agreed to remit the remaining consideration to the Company in two additional installments after the completion of the sale.

During the three months ended September 30, 2025, the Company received approximately $22.5 million in cash for the first installment. As of September 30, 2025, the second installment of approximately $27.5 million is reflected in “Prepaid expenses and other current assets” in the Condensed Consolidated Balance Sheets.

The following table presents the summarized statements of operations of discontinued operations.

(in thousands)

 

Three Months Ended
September 30, 2024

 

 

Nine Months Ended
September 30, 2024

 

Revenues

 

$

6,509

 

 

$

80,017

 

Cost of revenues (exclusive of depreciation and amortization shown separately below)

 

 

4,077

 

 

 

59,605

 

Selling, general, and administrative expenses

 

 

3,238

 

 

 

15,816

 

Gain on divestitures

 

 

(25,065

)

 

 

(95,261

)

Depreciation and amortization

 

 

204

 

 

 

4,695

 

Total operating expenses

 

 

(17,546

)

 

 

(15,145

)

Operating income from discontinued operations

 

 

24,055

 

 

 

95,162

 

Other expenses:

 

 

 

 

 

 

Interest expense

 

 

—

 

 

 

48

 

Total other expenses

 

 

—

 

 

 

48

 

Income before income taxes from discontinued operations

 

 

24,055

 

 

 

95,114

 

Provision for income taxes from discontinued operations

 

 

29,511

 

 

 

41,371

 

Net income from discontinued operations, net of tax

 

 

(5,456

)

 

 

53,743

 

Less: net income from discontinued operations attributable to noncontrolling interest, net of tax

 

 

—

 

 

 

2,192

 

Net income from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

(5,456

)

 

$

51,551

 

 

The following table provides a summary of the cash flows from discontinued operations:

 

(in thousands)

 

Nine Months Ended
September 30, 2024

 

Net cash provided by operating activities from discontinued operations

 

$

6,437

 

Net cash used in investing activities from discontinued operations

 

 

(7,304

)

Net cash used in financing activities from discontinued operations

 

 

(4,362

)

Net effect of foreign currency changes on cash from discontinued operations

 

 

(412

)

Net change in cash, cash equivalents and restricted cash from discontinued operations

 

$

(5,641

)
v3.25.3
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

3. Goodwill and Intangible Assets

The carrying amount of goodwill as of September 30, 2025 and December 31, 2024 was $477.0 million. Accumulated impairment losses related to goodwill were $2.3 billion as of September 30, 2025 and December 31, 2024.

During the second quarter of 2024, the Company determined a triggering event occurred and an impairment assessment was warranted for the Branded Agencies reporting unit goodwill due to the pending sale of one of the businesses that comprised a substantial portion of the assets, liabilities and prospective cash flows of the Branded Agencies reporting unit. As a result of the impairment test performed, the Company recognized a non-cash goodwill impairment charge of $99.7 million related to the Company's Branded Agencies reporting unit goodwill during the nine months ended September 30, 2024, which has been reflected in “Impairment of goodwill” in the Condensed Consolidated Statements of Comprehensive Income (Loss). As a result of this charge, an immaterial amount of goodwill remains in this reporting unit.

The following tables set forth information for intangible assets:

 

 

 

 

September 30, 2025

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment Charges

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,256,367

 

 

$

1,681,588

 

 

$

—

 

 

$

574,779

 

Trade names

 

10 years

 

 

88,600

 

 

 

68,998

 

 

 

—

 

 

 

19,602

 

Total finite-lived intangible assets

 

 

 

 

2,344,967

 

 

 

1,750,586

 

 

 

—

 

 

 

594,381

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

 

 

 

1,480,000

 

 

 

—

 

 

 

870,500

 

 

 

609,500

 

Total other intangible assets

 

 

 

$

3,824,967

 

 

$

1,750,586

 

 

$

870,500

 

 

$

1,203,881

 

 

 

 

 

 

December 31, 2024

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment Charges

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,256,382

 

 

$

1,559,551

 

 

$

—

 

 

$

696,831

 

Trade names

 

10 years

 

 

88,600

 

 

 

62,353

 

 

 

—

 

 

 

26,247

 

Total finite-lived intangible assets

 

 

2,344,982

 

 

 

1,621,904

 

 

 

—

 

 

 

723,078

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

 

 

 

1,480,000

 

 

 

—

 

 

 

870,500

 

 

 

609,500

 

Total other intangible assets

 

$

3,824,982

 

 

$

1,621,904

 

 

$

870,500

 

 

$

1,332,578

 

 

Amortization of intangible assets was $42.9 million and $44.5 million for the three months ended September 30, 2025 and 2024, respectively, and $128.8 million and $133.0 million for the nine months ended September 30, 2025 and 2024, respectively.

v3.25.3
Debt
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt

4. Debt

(in thousands)

September 30, 2025

 

 

December 31, 2024

 

Term Loan Facility due 2027

$

1,096,058

 

 

$

1,105,995

 

6.5% Senior Secured Notes due 2028

 

595,087

 

 

 

615,087

 

Total long-term debt

 

1,691,145

 

 

 

1,721,082

 

Less: current portion

 

13,250

 

 

 

13,250

 

Less: debt issuance costs

 

15,737

 

 

 

21,142

 

Long-term debt, net of current portion

$

1,662,158

 

 

$

1,686,690

 

In April 2024, the Company amended its secured first lien term loan credit facility (as may be amended from time to time, the “Term Loan Facility”) to reduce the applicable interest rate margin (a) from 4.50% to 4.25% for SOFR loans or (b) from 3.50% to 3.25% for base rate loans. The Term Loan Facility bears interest at a floating rate of Term SOFR plus an applicable margin of 4.25% per annum, subject to an additional spread adjustment on SOFR ranging from 0.11% to 0.26%. Interest on the 6.5% Senior Secured Notes due 2028 (the “Notes”) is payable semi-annually in arrears at a rate of 6.50% per annum.

The Company was in compliance with all of its affirmative and negative covenants under the Term Loan Facility and Notes as of September 30, 2025. The Company is required to repay the principal under the Term Loan Facility in the greater amount of its excess cash flow, as such term is defined in the agreement governing the Term Loan Facility, or $13.3 million, per annum, in quarterly payments. The Company made the minimum quarterly principal payments of

$3.3 million and $9.9 million during the three and nine months ended September 30, 2025 and 2024, respectively. No payments under the excess cash flow calculation were required in such periods.

The Company voluntarily repurchased an aggregate of $20.0 million principal amount of the Notes during the first quarter of 2025 and recognized a gain on the repurchase of $1.8 million. The Company did not make any voluntary repurchases during the second and third fiscal quarters of 2025. The Company voluntarily repurchased an aggregate of $50.4 million and $127.9 million principal amount of the Notes during the three and nine months ended September 30, 2024, respectively, and recognized a gain on the repurchase of $3.5 million and $8.6 million for the three and nine months ended September 30, 2024, respectively. Gains on the repurchase of the Notes were recognized as a component of “Interest expense, net” in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for all periods presented.

The Company voluntarily repurchased an aggregate of $29.8 million principal amount of its Term Loan Facility during the three and nine months ended September 30, 2024. The Company recognized a gain on the repurchases of $0.5 million for the three and nine months ended September 30, 2024 as a component of “Interest expense, net” in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The Company did not make any voluntary repurchases of the Term Loan Facility during the three and nine months ended September 30, 2025.

As of September 30, 2025, the Company had no borrowings under its senior secured asset-based revolving credit facility in an aggregate principal amount of up to $500.0 million, subject to borrowing base capacity (as may be amended from time to time, the “Revolving Credit Facility”). All borrowings under the Revolving Credit Facility are subject to the satisfaction of certain customary conditions. Borrowings under the Revolving Credit Facility bear interest at a floating rate, which at the option of the Company may be either (i) a base rate or Canadian Prime Rate plus an applicable margin of 0.75%, 1.00%, or 1.25% per annum or (ii) Term SOFR or Alternative Currency Spread plus an applicable margin of 1.75%, 2.00% or 2.25% per annum. The Company is required to pay a commitment fee ranging from 0.250% to 0.375% per annum in respect of the average daily unused commitments under the Revolving Credit Facility.

v3.25.3
Fair Value of Financial Instruments
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

5. Fair Value of Financial Instruments

The Company measures fair value based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based on a three-tier hierarchy that prioritizes the inputs used to measure fair value. These tiers include: Level 1, defined as observable inputs, such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The following table sets forth the Company’s financial assets and liabilities measured on a recurring basis at fair value, categorized by input level within the fair value hierarchy.

 

 

September 30, 2025

 

(in thousands)

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

670

 

 

$

—

 

 

$

670

 

 

$

—

 

Total liabilities measured at fair value

 

$

670

 

 

$

—

 

 

$

670

 

 

$

—

 

 

 

 

December 31, 2024

 

(in thousands)

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

796

 

 

$

—

 

 

$

796

 

 

$

—

 

Total assets measured at fair value

 

$

796

 

 

$

—

 

 

$

796

 

 

$

—

 

 

Interest Rate Cap Agreements

The Company has interest rate collar contracts with an aggregate notional value of principal of $700.0 million as of September 30, 2025, from various financial institutions to manage the Company’s exposure to interest rate movements on variable rate credit facilities. The interest rate collar contracts will mature on April 5, 2026, 2027 and 2028.

As of September 30, 2025, the fair value of the Company’s outstanding interest collars of $0.7 million was included in “Other long-term liabilities” in the Condensed Consolidated Balance Sheets. As of December 31, 2024 the fair value of the Company’s outstanding interest rate caps and collars of $0.8 million was included in “Other assets” in the Condensed Consolidated Balance Sheets. Changes in fair value of the Company's outstanding interest rate caps and collars are recognized as a component of “Interest expense, net” in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

During the three months ended September 30, 2025 and 2024, the Company recorded a gain of $0.5 million and a loss of $3.7 million, respectively, within “Interest expense, net,” related to changes in the fair value of its derivative instruments. During the nine months ended September 30, 2025 and 2024, the Company recorded a loss of $1.5 million and a gain of $1.7 million, respectively, within “Interest expense, net”, related to changes in the fair value of its derivative instruments.

Long-term Debt

The following tables set forth the carrying values and fair values of the Company’s financial liabilities measured on a recurring basis, categorized by input level within the fair value hierarchy:

(in thousands)

 

Carrying Value

 

 

Fair Value
(Level 2)

 

Balance at September 30, 2025

 

 

 

 

 

 

Term Loan Facility

 

$

1,096,058

 

 

$

1,121,094

 

Notes

 

 

595,087

 

 

 

606,363

 

Total long-term debt

 

$

1,691,145

 

 

$

1,727,457

 

 

(in thousands)

 

Carrying Value

 

 

Fair Value
(Level 2)

 

Balance at December 31, 2024

 

 

 

 

 

 

Term Loan Facility

 

$

1,105,995

 

 

$

1,153,346

 

Notes

 

 

615,087

 

 

 

612,533

 

Total long-term debt

 

$

1,721,082

 

 

$

1,765,879

 
v3.25.3
Related Party Transactions
 9 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
Related Party Transactions

6. Related Party Transactions

An officer of the Company serves as a member of the board of directors of a client of the Company. The Company recognized $1.2 million and $1.3 million of revenues from such client during each of the three months ended September 30, 2025 and 2024, respectively. The Company recognized $3.7 million and $3.9 million of revenues from such client during each of the nine months ended September 30, 2025 and 2024, respectively. Accounts receivable from this client were $0.8 million and $0.4 million as of September 30, 2025 and December 31, 2024, respectively.

Prior to April 1, 2025, a member of the board of directors of the Company served as an officer of a client of the Company. The Company recognized $2.0 million of revenues from such client during the three months ended September 30, 2024. The Company recognized $2.2 million of revenues from such client during the three months ended March 31, 2025. Following that period, the member of the Company’s board of directors ceased serving as an officer of the client. The Company recognized $5.9 million of revenues from such client during the nine months ended September 30, 2024. Accounts receivable from this client was $0.2 million as of December 31, 2024.

Unconsolidated Affiliates

During the three months ended September 30, 2025 and 2024, the Company recognized revenues of an immaterial amount and $2.7 million, respectively, from its investment in unconsolidated affiliates. During the nine months ended September 30, 2025 and 2024, the Company recognized revenues of $3.7 million and $14.0 million, respectively, from its investment in unconsolidated affiliates. Accounts receivable from transactions with unconsolidated affiliates were $0.8 million and $0.9 million as of September 30, 2025 and December 31, 2024, respectively.
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

7. Income Taxes

The Company had a negative effective tax rate of 287.0% and an effective tax rate of 5.0% for the three and nine months ended September 30, 2025, respectively, compared to effective tax rates of 11.5% and 15.9% for the corresponding periods in 2024.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBB”) was signed into law, introducing significant amendments to the U.S. federal tax code. As a result of this legislation, the Company recorded a discrete income tax benefit of $2.7 million during the three months ended September 30, 2025, related to the remeasurement of the deferred tax asset on interest expense carryforwards and the corresponding adjustment to the valuation allowance. The effective tax rate for the three and nine months ended September 30, 2025 differed from the U.S. federal statutory rate primarily due to the change of a valuation allowance on disallowed interest expense carryforwards. The change in the valuation allowance reflects the impact of newly enacted tax legislation.

The effective tax rate for the three and nine months ended September 30, 2024 differed from the statutory rate primarily due to the non-deductible goodwill impairment recognized during that period.
v3.25.3
Segments
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segments

8. Segments

The Company’s reportable segments, consisting of Branded Services, Experiential Services, and Retailer Services, are the segments of the Company for which separate financial information are evaluated regularly by the Company’s Chief Operating Decision Maker (“CODM”), a position currently held by the Company's Chief Executive Officer, in deciding how to allocate resources and in assessing performance.

The CODM utilizes segment operating income to assess the performance and allocate resources to each segment. The CODM is not provided asset information by reportable segment.

Discontinued operations are not included in the applicable reportable segments. Refer to Note 2—Discontinued Operations.

The tables below summarize revenues, significant expenses and operating income (loss) by reportable segment:

 

Three Months Ended September 30, 2025

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

288,804

 

 

$

377,707

 

 

$

248,501

 

 

$

915,012

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

155,481

 

 

 

175,298

 

 

 

149,345

 

 

 

480,124

 

Reimbursable expenses1

 

30,767

 

 

 

103,363

 

 

 

—

 

 

 

134,130

 

Other segment items2

 

72,753

 

 

 

67,390

 

 

 

79,592

 

 

 

219,735

 

Depreciation and amortization

 

31,487

 

 

 

10,744

 

 

 

8,512

 

 

 

50,743

 

Income from equity method investments

 

(1,408

)

 

 

—

 

 

 

—

 

 

 

(1,408

)

Gain on divestiture

 

(8,472

)

 

 

—

 

 

 

—

 

 

 

(8,472

)

Total segment operating expenses from continuing operations

 

280,608

 

 

 

356,795

 

 

 

237,449

 

 

 

874,852

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

8,196

 

 

$

20,912

 

 

$

11,052

 

 

$

40,160

 

 

 

Three Months Ended September 30, 2024

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

331,357

 

 

$

342,731

 

 

$

265,182

 

 

$

939,270

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

172,948

 

 

 

181,871

 

 

 

160,408

 

 

 

515,227

 

Reimbursable expenses1

 

48,072

 

 

 

92,084

 

 

 

—

 

 

 

140,156

 

Other segment items2

 

92,275

 

 

 

57,900

 

 

 

87,838

 

 

 

238,013

 

Depreciation and amortization

 

33,087

 

 

 

10,289

 

 

 

8,490

 

 

 

51,866

 

Income from equity method investments

 

(2,815

)

 

 

—

 

 

 

—

 

 

 

(2,815

)

Total segment operating expenses from continuing operations

 

343,567

 

 

 

342,144

 

 

 

256,736

 

 

 

942,447

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

(12,210

)

 

$

587

 

 

$

8,446

 

 

$

(3,177

)

 

 

 

Nine Months Ended September 30, 2025

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

873,866

 

 

$

1,039,433

 

 

$

697,212

 

 

$

2,610,511

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

482,040

 

 

 

500,800

 

 

 

448,665

 

 

 

1,431,505

 

Reimbursable expenses1

 

102,272

 

 

 

295,597

 

 

 

—

 

 

 

397,869

 

Other segment items2

 

226,747

 

 

 

182,804

 

 

 

198,272

 

 

 

607,823

 

Depreciation and amortization

 

94,511

 

 

 

31,965

 

 

 

25,326

 

 

 

151,802

 

Income from equity method investments

 

(5,566

)

 

 

—

 

 

 

—

 

 

 

(5,566

)

Gain on divestiture

 

(8,472

)

 

 

—

 

 

 

—

 

 

 

(8,472

)

Total segment operating expenses from continuing operations

 

891,532

 

 

 

1,011,166

 

 

 

672,263

 

 

 

2,574,961

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

(17,666

)

 

$

28,267

 

 

$

24,949

 

 

$

35,550

 

 

 

Nine Months Ended September 30, 2024

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

982,752

 

 

$

969,590

 

 

$

721,697

 

 

$

2,674,039

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

552,891

 

 

 

527,367

 

 

 

475,086

 

 

 

1,555,344

 

Reimbursable expenses1

 

132,907

 

 

 

258,570

 

 

 

—

 

 

 

391,477

 

Other segment items2

 

244,183

 

 

 

149,031

 

 

 

208,481

 

 

 

601,695

 

Impairment of goodwill

 

99,670

 

 

 

—

 

 

 

—

 

 

 

99,670

 

Depreciation and amortization

 

97,401

 

 

 

31,224

 

 

 

24,306

 

 

 

152,931

 

Loss from equity method investments

 

(2,692

)

 

 

—

 

 

 

—

 

 

 

(2,692

)

Total segment operating expenses from continuing operations

 

1,124,360

 

 

 

966,192

 

 

 

707,873

 

 

 

2,798,425

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

(141,608

)

 

$

3,398

 

 

$

13,824

 

 

$

(124,386

)

 

 

 

 

(1) Reimbursable expenses are costs incurred in the delivery of services to the Company's clients that the client has agreed to reimburse, including media, sample, retailer fees and other marketing and production costs.

(2) The “other segment items” category primarily consists of costs incurred in the execution of service obligations, including supplies, technology, and other direct expenses such as travel and indirect general and administrative expenses such as professional fees. These costs align with the segment-level information regularly provided to the CODM and represent the difference between revenue and the significant expense categories above in determining segment profitability.
v3.25.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

9. Commitments and Contingencies

Litigation

The Company is involved in various legal matters that arise in the ordinary course of its business. Some of these legal matters purport or may be determined to be class and/or representative actions under the California Labor Code and Private Attorneys General Act, or seek substantial damages, or penalties. The Company has accrued amounts in connection with certain legal matters, including with respect to certain of the matters described below. There can be no assurance, however, that these accruals will be sufficient to cover such matters or other legal matters or that such matters or other legal matters will not materially or adversely affect the Company’s financial position, liquidity, or results of operations.

In April 2018, the Company acquired the business of Take 5 Media Group (“Take 5”). As a result of an investigation into that business in 2019 that identified certain misconduct, the Company terminated all operations of Take 5 in July 2019 and offered refunds to clients of collected revenues attributable to the period after the Company’s acquisition. The Company refers to the foregoing as the “Take 5 Matter.” The Company voluntarily disclosed to the United States federal government certain misconduct occurring at Take 5. In October 2022, an arbitrator made a final award in favor of the Company. In October 2025, the Company entered into an agreement with one of the beneficial owners (and certain other parties) that provides for payments of certain specified amounts to the Company. The Company is currently unable to estimate if or when it will be able to collect any amounts from any of the beneficial owners. The Take 5 Matter may result in additional litigation against the Company, including lawsuits from clients, or governmental investigations, which may expose the Company to potential liability in excess of the amounts being offered by the Company as refunds to Take 5 clients.

In the ordinary course of business, the Company is required to provide financial commitments in the form of surety bonds to third parties as a guarantee of its performance on and its compliance with certain obligations. If the Company were to fail to perform or comply with these obligations, any draws upon surety bonds issued on its behalf would then trigger the Company's payment obligation to the surety bond issuer. The Company has outstanding surety bonds issued for its benefits of $15.0 million as of September 30, 2025 and December 31, 2024.
v3.25.3
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

10. Stock-Based Compensation

The Company has issued nonqualified stock options, restricted stock units (“RSUs”), and performance restricted stock units (“PSUs”) under the Advantage Solutions Inc. 2020 Incentive Award Plan, as amended and restated (the “Plan”). The Company’s restricted stock units and performance restricted stock units, as described below, are expensed based on the fair value at the grant date. The Company recognized stock-based compensation expense as follows:

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands)

2025

 

 

2024

 

 

2025

 

 

2024

 

Restricted stock-based unit awards

$

5,970

 

 

$

5,121

 

 

$

14,168

 

 

$

14,265

 

Other share-based awards

 

1,445

 

 

 

3,022

 

 

 

6,315

 

 

 

9,959

 

Total stock-based compensation before tax

 

7,415

 

 

 

8,143

 

 

 

20,483

 

 

 

24,224

 

Tax benefit

 

(1,491

)

 

 

(1,429

)

 

 

(3,635

)

 

 

(4,038

)

Total stock-based compensation expense included in net income (loss)

$

5,924

 

 

$

6,714

 

 

$

16,848

 

 

$

20,186

 

Performance Restricted Stock Units

PSUs granted in fiscal years 2025 and 2024 cliff-vest after three years at a rate ranging from 0% to 200% subject to achievement of certain financial performance criteria over the same three years based on measurements of the Company’s Adjusted EBITDA margin and cash earnings, both terms as defined in the award agreement, and the recipient's continued service to the Company. Financial performance is measured at the conclusion of each fiscal year of the vesting period by the Human Capital Committee (“HCC”). The number of PSUs that ultimately vest is further modified based on the Company’s total shareholder return (“TSR”) relative to a defined peer group over the same performance period (which adjustment imposes a floor or a cap on the total number of PSUs that are eligible to vest based on the Company’s relative total shareholder return ranking). Following completion of the performance period and determination of achievement levels, the HCC approves the final number of PSUs vested and settled in shares of the

Company’s Class A common stock. During the first quarter of 2025, the HCC determined the year one achievement percentage for PSUs granted in fiscal year 2024 to be 128.3% with two years remaining in the performance period. No achievement assessment has been determined for awards granted in 2025 as the Company has not completed any performance periods in the measurement period.

PSUs granted in fiscal year 2023 vest over a three year period at a rate ranging from 0% to 150% subject to achievement of certain financial performance criteria based on the Company’s revenues and Adjusted EBITDA targets, both terms as defined in the award agreement, over the 2023 fiscal year, and the recipient’s continued service to the Company. During the first quarter of 2024, the HCC determined that the achievement percentage for the 2023 grants was 150%. This achievement percentage is subject to downward adjustment in fiscal years 2024 and 2025 by the HCC if the Company does not maintain above target performance.

The fair value of PSU grants was equal to the closing price of the Company’s stock on the date of the applicable grant. The following table presents the number of PSUs that would potentially be issued upon achievement of performance criteria at threshold, target and maximum. The maximum potential expense if the maximum achievement level were met for these awards has been provided in the table below. Recognition of expense associated with performance-based stock is not permitted until achievement of the performance targets are probable of occurring.
 

Year Granted

 

Number of
Shares
Threshold

 

 

Number of
Shares
Target

 

 

Number of
Shares
Maximum

 

 

Weighted Average Grant Date Fair Value Per Share

 

 

Maximum Remaining Unrecognized Compensation Expense

 

 

Weighted-average remaining requisite service periods

 

2025

 

 

464,057

 

 

 

3,712,457

 

 

 

7,424,915

 

 

$

1.31

 

 

$

5,977,758

 

 

 

2.6 years

 

2024

 

 

138,369

 

 

 

1,106,955

 

 

 

1,949,348

 

 

$

3.38

 

 

$

1,897,716

 

 

 

1.6 years

 

2023

 

 

3,520,652

 

 

 

3,520,652

 

 

 

5,280,978

 

 

$

2.12

 

 

$

2,099,122

 

 

 

0.7 years

 

The following table summarizes the PSU activity for the nine months ended September 30, 2025:

 

 

Performance Share Units

 

 

Weighted Average Grant
Date Fair Value

 

Outstanding at January 1, 2025

 

 

6,770,840

 

 

$

2.56

 

Granted

 

 

4,005,531

 

 

$

1.30

 

Distributed

 

 

(1,564,802

)

 

$

2.32

 

Forfeited

 

 

(1,159,926

)

 

$

2.22

 

PSU performance adjustment (1)

 

 

288,421

 

 

$

4.33

 

Outstanding at September 30, 2025 (2)

 

 

8,340,064

 

 

$

2.05

 

 

 

 

 

(1) The number of PSUs outstanding was adjusted during the first quarter of fiscal year 2025, to reflect the 128.3% achievement level approved by the HCC for fiscal year 2024.

(2) PSU award activity is presented at target until the period in which the HCC approves the achievement percentages, at which point the awards are adjusted accordingly, subject to additional performance requirements and service-based vesting conditions.

Restricted Stock Units

RSUs are subject to the recipient’s continued service to the Company. RSUs are generally scheduled to vest over three years and are subject to the provisions of the agreement under the Plan.

 

 

 

During the nine months ended September 30, 2025, the following activities involving RSUs occurred under the Plan:

 

 

 

Number of RSUs

 

 

Weighted Average Grant
Date Fair Value

 

Outstanding at January 1, 2025

 

 

11,817,446

 

 

$

3.28

 

Granted

 

 

20,823,178

 

 

$

1.30

 

Distributed

 

 

(5,283,871

)

 

$

3.37

 

Forfeited

 

 

(3,102,533

)

 

$

2.04

 

Outstanding at September 30, 2025

 

 

24,254,220

 

 

$

1.72

 

 

As of September 30, 2025, the total remaining unrecognized compensation cost related to RSUs amounted to $22.2 million, which is expected to be amortized over the weighted-average remaining requisite service periods of 2.2 years.

Stock Options

During the nine months ended September 30, 2025, the following activities involving stock options occurred under the Plan:

 

 

Stock Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life

 

 

Aggregate Intrinsic Value
(in thousands)

 

Outstanding at January 1, 2025

 

 

20,433,018

 

 

$

5.75

 

 

 

 

 

 

 

Granted

 

 

7,216,054

 

 

$

1.31

 

 

 

 

 

 

 

Forfeited

 

 

(1,811,428

)

 

$

6.59

 

 

 

 

 

 

 

Cancelled/Expired

 

 

(146,373

)

 

$

2.83

 

 

 

 

 

 

 

Outstanding at September 30, 2025

 

 

25,691,271

 

 

$

4.46

 

 

 

6.6 years

 

 

$

1,559

 

Exercisable at September 30, 2025

 

 

7,746,630

 

 

$

3.28

 

 

 

6.2 years

 

 

$

—

 

 

As of September 30, 2025, the Company had approximately $6.4 million of total unrecognized compensation expense related to stock options, net of forfeitures, which the Company expects to recognize over a weighted-average period of approximately 2.2 years. There were no options exercised during the three and nine months ended September 30, 2025 and 2024.

v3.25.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

11. Earnings Per Share

The Company calculates earnings per share using a dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income attributable to stockholders of the Company by the weighted-average shares of common stock outstanding without the consideration for potential dilutive shares of common stock. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of performance stock units, restricted stock units, public and private placement warrants, the employee stock purchase plan and stock options. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding and the potential dilutive shares of common stock for the period determined using the treasury stock method. During periods of net loss, diluted loss per share is equal to basic loss per share because the antidilutive effect of potential common shares is disregarded.

 

 

 

 

 

The following is a reconciliation of basic and diluted earnings per common share:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands, except share and earnings per share data)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic earnings per share computation:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to stockholders of Advantage Solutions Inc.

 

$

20,565

 

 

$

(37,320

)

 

$

(66,005

)

 

$

(200,469

)

Net (loss) income from discontinued operations, net of tax

 

 

—

 

 

 

(5,456

)

 

 

—

 

 

 

53,743

 

Less: net income from discontinued operations attributable to noncontrolling interest, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,192

 

Net (loss) income from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

—

 

 

$

(5,456

)

 

$

—

 

 

$

51,551

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares - basic

 

 

325,921,176

 

 

 

321,080,571

 

 

 

323,988,621

 

 

 

321,774,115

 

Basic income (loss) per common share from continuing operations attributable to stockholders of Advantage Solutions Inc.

 

$

0.06

 

 

$

(0.12

)

 

$

(0.20

)

 

$

(0.62

)

Basic (loss) earnings per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

—

 

 

$

(0.02

)

 

$

—

 

 

$

0.17

 

Diluted earnings per share computation:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to stockholders of Advantage Solutions Inc.

 

$

20,565

 

 

$

(37,320

)

 

$

(66,005

)

 

$

(200,469

)

Net (loss) income from discontinued operations, net of tax

 

 

—

 

 

 

(5,456

)

 

 

—

 

 

 

53,743

 

Less: net income from discontinued operations attributable to noncontrolling interest, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,192

 

Net (loss) income from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

—

 

 

$

(5,456

)

 

$

—

 

 

$

51,551

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

325,921,176

 

 

 

321,080,571

 

 

 

323,988,621

 

 

 

321,774,115

 

Performance stock units

 

 

3,727,256

 

 

 

—

 

 

 

—

 

 

 

—

 

Restricted stock units

 

 

9,880,861

 

 

 

—

 

 

 

—

 

 

 

—

 

Employee stock purchase plan and stock options

 

 

317,904

 

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average common shares - diluted

 

 

339,847,197

 

 

 

321,080,571

 

 

 

323,988,621

 

 

 

321,774,115

 

Diluted income (loss) per common share from continuing operations

 

$

0.06

 

 

$

(0.12

)

 

$

(0.20

)

 

$

(0.62

)

Diluted (loss) income per common share from discontinued operations

 

$

—

 

 

$

(0.02

)

 

$

—

 

 

$

0.17

 

The Company had 18,578,321 warrants to purchase Class A common stock at $11.50 per share outstanding at September 30, 2025 and 2024, which have been excluded from the calculation of diluted earnings per common share, as the weighted average market price of the common stock during the three and nine months ended September 30, 2025 and 2024 did not exceed the exercise price of the warrants.

In accordance with the treasury stock method the weighted average shares outstanding assuming dilution include the incremental effect of stock-based awards, except when such effect would be antidilutive. Stock-based awards of 10.3 million weighted-average shares were outstanding for the nine months ended September 30, 2025, but were not included in the computation of diluted (loss) earnings per common share because the net loss position of the Company made them antidilutive. Stock-based awards of 13.9 million and 16.6 million weighted-average shares were outstanding for the three and nine months ended September 30, 2024, but were not included in the computation of diluted loss per common share because the net loss position of the Company made them antidilutive.
v3.25.3
Subsequent Events
 9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

12. Subsequent Events

On October 28, 2025, the Company’s public and private placement warrants expired in accordance with their contractual terms. No warrants were exercised during the period from October 1, 2025 through October 28, 2025

. As of the expiration date, the warrants had no intrinsic value and a fair value of zero. Accordingly, the Company’s liability balance related to the warrants was fully extinguished subsequent to September 30, 2025.

v3.25.3
Organization and Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. The unaudited condensed consolidated financial statements do not include all of the information required by accounting principles generally accepted in the United States (“GAAP”). The Condensed Consolidated Balance Sheet at December 31, 2024 was derived from the audited Consolidated Balance Sheet at that date and does not include all the disclosures required by GAAP. In the opinion of management, all adjustments which are of a normal recurring nature and necessary for a fair statement of the results as of September 30, 2025 and for the three and nine months ended September 30, 2025 and 2024 have been reflected in the condensed consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2024 and the related footnotes thereto. Operating results for the three and nine months ended September 30, 2025 are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period.

As of January 1, 2024, the Company reorganized its portfolio of businesses into a new, simplified structure that more closely aligns its business capabilities with economic buyers. The Company's revised operating and reportable segments consist of Branded Services, Experiential Services, and Retailer Services. As a result of this reorganization, the Company identified non-core businesses for disposition (“Divestiture Plan”). In the first quarter of fiscal year 2024, the Company determined its Divestiture Plan met the criteria for discontinued operations as it represented a strategic shift that had a major effect on the Company’s operations and financial results. As such, the results of businesses meeting the criteria to be classified as held for sale or disposed of in accordance with the Company’s Divestiture Plan were reclassified to discontinued operations.

The notes to the condensed consolidated financial statements are presented on a continuing operations basis unless otherwise noted. Refer to Note 2—Discontinued Operations for additional information on the Company’s discontinued operations.
Revenue Recognition

Revenue Recognition

The Company recognizes revenue when control of promised goods or services is transferred to the client in an amount that reflects the consideration that the Company expects to be entitled to in exchange for such goods or services. Substantially all of the Company’s contracts with clients involve the transfer of a service to the client, which represents a performance obligation that is satisfied over time because the client simultaneously receives and consumes the benefits of the services provided. In most cases, the contracts provide for a performance obligation that is comprised of a series of distinct services that are substantially the same and that have the same pattern of transfer (i.e., distinct days of service). For these contracts, the Company allocates the ratable portion of the consideration based on the services provided in each period of service to such period.

Revenues related to the Branded Services segment are primarily recognized in the form of commissions, fee-for-service and cost-plus fees for providing headquarter relationship management, execution of merchandising strategies and omni-commerce marketing services. Revenues within the Branded Services segment are further disaggregated between brokerage services, branded merchandising services and omni-commerce marketing services. Brokerage services revenues are primarily outsourced sales and services for branded consumer goods manufacturers at retailer headquarters, in-store and online. Branded merchandising services relate to merchandising in-store and online for branded consumer goods manufacturers. Omni-commerce marketing services primarily relate to digital and field marketing services.

Experiential Services segment revenues are primarily recognized in the form of fee-for-service and cost-plus fees for providing in-store, digital sampling and demonstrations, where the Company manages highly customized, large-scale sampling programs for leading brands and retailers.

Retailer Services segment revenues are primarily recognized in the form of commissions, fee-for-service and cost-plus fees for providing consulting services related to private brand development, the execution of merchandising strategies and marketing strategies within retailer locations, including retail media networks and analyzing shopper behavior. Revenues within the Retailer Services segment are further disaggregated between advisory services, retailer merchandising services and agency services to retailers. Advisory services primarily consist of consulting services related to private brand development. Retailer merchandising services primarily relate to the execution of merchandising strategies. Agency services primarily consist of providing marketing strategies within retail locations.

Disaggregated revenues were as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Branded Services

 

 

 

 

 

 

 

 

 

 

 

 

Brokerage services

 

$

105,313

 

 

$

123,965

 

 

$

311,292

 

 

$

373,961

 

Branded merchandising services

 

 

102,197

 

 

 

106,018

 

 

 

307,261

 

 

 

319,791

 

Omni-commerce marketing services

 

 

81,294

 

 

 

101,374

 

 

 

255,313

 

 

 

289,000

 

Total Branded Services revenues

 

$

288,804

 

 

$

331,357

 

 

$

873,866

 

 

$

982,752

 

Experiential Services

 

 

 

 

 

 

 

 

 

 

 

 

Experiential services

 

$

377,707

 

 

$

342,731

 

 

$

1,039,433

 

 

$

969,590

 

Total Experiential Services revenues

 

$

377,707

 

 

$

342,731

 

 

$

1,039,433

 

 

$

969,590

 

Retailer Services

 

 

 

 

 

 

 

 

 

 

 

 

Retail merchandising services

 

$

181,419

 

 

$

189,002

 

 

$

534,773

 

 

$

543,700

 

Advisory services

 

 

52,472

 

 

 

59,039

 

 

 

116,742

 

 

 

129,831

 

Agency services

 

 

14,610

 

 

 

17,141

 

 

 

45,697

 

 

 

48,166

 

Total Retailer Services revenues

 

$

248,501

 

 

$

265,182

 

 

$

697,212

 

 

$

721,697

 

Total revenues

 

$

915,012

 

 

$

939,270

 

 

$

2,610,511

 

 

$

2,674,039

 

Deferred revenues represent cash payments that are received in advance of the Company’s satisfaction of the applicable obligation and are included in Deferred revenues in the Condensed Consolidated Balance Sheets. Deferred revenues are recognized as revenues when the related services are performed for the client. Revenues recognized during the three and nine months ended September 30, 2025 that were included in Deferred revenues as of December 31, 2024 were $4.3 million and $20.1 million, respectively. Revenues recognized during the three and nine months ended September 30, 2024 included in Deferred revenues as of December 31, 2023 were $1.3 million and $18.1 million, respectively.
Accounting Standards Recently Issued but Not Yet Adopted by the Company

Accounting Standards Recently Issued but Not Yet Adopted by the Company

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires entities to expand their existing income tax disclosures, specifically related to the rate reconciliation and income taxes paid. The standard is effective for the Company’s annual report for fiscal year 2025. The new standard is expected to be applied prospectively, but retrospective application is permitted. The Company will adopt this standard prospectively for the year ending December 31, 2025. The adoption of this update is expected to impact only the Company’s disclosures and is not expected to have a material impact on the consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), and in January 2025, the FASB issued ASU 2025-01, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). ASU 2024-03 requires

public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03, as clarified by ASU 2025-01, is effective for the Company beginning in fiscal year 2026 and interim periods within fiscal year 2027, with early adoption permitted. The new standard is expected to be applied prospectively, but retrospective application is permitted. The Company is currently evaluating the impact of ASU 2024-03 on the consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), which modernizes the accounting for internal-use software costs to reflect incremental and iterative development methods. The amendments remove prescriptive development stages and require capitalization of software costs once management has authorized and committed to funding the project and it is probable the project will be completed and the software will be used as intended. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, including interim periods within those years, with early adoption permitted and application on a prospective, modified retrospective, or retrospective basis. The Company is currently evaluating the impact of ASU 2025-06 on the consolidated financial statements and related disclosures.

Other new accounting pronouncements recently issued or newly effective were not applicable to the Company, did not have a material impact on the condensed consolidated financial statements or are not expected to have a material impact on the condensed consolidated financial statements.
v3.25.3
Organization and Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Disaggregation of Revenue

Disaggregated revenues were as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Branded Services

 

 

 

 

 

 

 

 

 

 

 

 

Brokerage services

 

$

105,313

 

 

$

123,965

 

 

$

311,292

 

 

$

373,961

 

Branded merchandising services

 

 

102,197

 

 

 

106,018

 

 

 

307,261

 

 

 

319,791

 

Omni-commerce marketing services

 

 

81,294

 

 

 

101,374

 

 

 

255,313

 

 

 

289,000

 

Total Branded Services revenues

 

$

288,804

 

 

$

331,357

 

 

$

873,866

 

 

$

982,752

 

Experiential Services

 

 

 

 

 

 

 

 

 

 

 

 

Experiential services

 

$

377,707

 

 

$

342,731

 

 

$

1,039,433

 

 

$

969,590

 

Total Experiential Services revenues

 

$

377,707

 

 

$

342,731

 

 

$

1,039,433

 

 

$

969,590

 

Retailer Services

 

 

 

 

 

 

 

 

 

 

 

 

Retail merchandising services

 

$

181,419

 

 

$

189,002

 

 

$

534,773

 

 

$

543,700

 

Advisory services

 

 

52,472

 

 

 

59,039

 

 

 

116,742

 

 

 

129,831

 

Agency services

 

 

14,610

 

 

 

17,141

 

 

 

45,697

 

 

 

48,166

 

Total Retailer Services revenues

 

$

248,501

 

 

$

265,182

 

 

$

697,212

 

 

$

721,697

 

Total revenues

 

$

915,012

 

 

$

939,270

 

 

$

2,610,511

 

 

$

2,674,039

 
v3.25.3
Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2025
Discontinued Operation, Additional Disclosures [Abstract]  
Schedule of Discontinued Operations

The following table presents the summarized statements of operations of discontinued operations.

(in thousands)

 

Three Months Ended
September 30, 2024

 

 

Nine Months Ended
September 30, 2024

 

Revenues

 

$

6,509

 

 

$

80,017

 

Cost of revenues (exclusive of depreciation and amortization shown separately below)

 

 

4,077

 

 

 

59,605

 

Selling, general, and administrative expenses

 

 

3,238

 

 

 

15,816

 

Gain on divestitures

 

 

(25,065

)

 

 

(95,261

)

Depreciation and amortization

 

 

204

 

 

 

4,695

 

Total operating expenses

 

 

(17,546

)

 

 

(15,145

)

Operating income from discontinued operations

 

 

24,055

 

 

 

95,162

 

Other expenses:

 

 

 

 

 

 

Interest expense

 

 

—

 

 

 

48

 

Total other expenses

 

 

—

 

 

 

48

 

Income before income taxes from discontinued operations

 

 

24,055

 

 

 

95,114

 

Provision for income taxes from discontinued operations

 

 

29,511

 

 

 

41,371

 

Net income from discontinued operations, net of tax

 

 

(5,456

)

 

 

53,743

 

Less: net income from discontinued operations attributable to noncontrolling interest, net of tax

 

 

—

 

 

 

2,192

 

Net income from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

(5,456

)

 

$

51,551

 

 

The following table provides a summary of the cash flows from discontinued operations:

 

(in thousands)

 

Nine Months Ended
September 30, 2024

 

Net cash provided by operating activities from discontinued operations

 

$

6,437

 

Net cash used in investing activities from discontinued operations

 

 

(7,304

)

Net cash used in financing activities from discontinued operations

 

 

(4,362

)

Net effect of foreign currency changes on cash from discontinued operations

 

 

(412

)

Net change in cash, cash equivalents and restricted cash from discontinued operations

 

$

(5,641

)
v3.25.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

The following tables set forth information for intangible assets:

 

 

 

 

September 30, 2025

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment Charges

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,256,367

 

 

$

1,681,588

 

 

$

—

 

 

$

574,779

 

Trade names

 

10 years

 

 

88,600

 

 

 

68,998

 

 

 

—

 

 

 

19,602

 

Total finite-lived intangible assets

 

 

 

 

2,344,967

 

 

 

1,750,586

 

 

 

—

 

 

 

594,381

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

 

 

 

1,480,000

 

 

 

—

 

 

 

870,500

 

 

 

609,500

 

Total other intangible assets

 

 

 

$

3,824,967

 

 

$

1,750,586

 

 

$

870,500

 

 

$

1,203,881

 

 

 

 

 

 

December 31, 2024

 

(amounts in thousands)

 

Weighted Average Useful Life

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Accumulated
Impairment Charges

 

 

Net Carrying
Value

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Client relationships

 

14 years

 

$

2,256,382

 

 

$

1,559,551

 

 

$

—

 

 

$

696,831

 

Trade names

 

10 years

 

 

88,600

 

 

 

62,353

 

 

 

—

 

 

 

26,247

 

Total finite-lived intangible assets

 

 

2,344,982

 

 

 

1,621,904

 

 

 

—

 

 

 

723,078

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

 

 

 

1,480,000

 

 

 

—

 

 

 

870,500

 

 

 

609,500

 

Total other intangible assets

 

$

3,824,982

 

 

$

1,621,904

 

 

$

870,500

 

 

$

1,332,578

 

 
v3.25.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Summary of Long term Debt, Net of Current Portion

(in thousands)

September 30, 2025

 

 

December 31, 2024

 

Term Loan Facility due 2027

$

1,096,058

 

 

$

1,105,995

 

6.5% Senior Secured Notes due 2028

 

595,087

 

 

 

615,087

 

Total long-term debt

 

1,691,145

 

 

 

1,721,082

 

Less: current portion

 

13,250

 

 

 

13,250

 

Less: debt issuance costs

 

15,737

 

 

 

21,142

 

Long-term debt, net of current portion

$

1,662,158

 

 

$

1,686,690

 
v3.25.3
Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Summary of Financial Liabilities Measured on Recurring Basis

The following tables set forth the carrying values and fair values of the Company’s financial liabilities measured on a recurring basis, categorized by input level within the fair value hierarchy:

(in thousands)

 

Carrying Value

 

 

Fair Value
(Level 2)

 

Balance at September 30, 2025

 

 

 

 

 

 

Term Loan Facility

 

$

1,096,058

 

 

$

1,121,094

 

Notes

 

 

595,087

 

 

 

606,363

 

Total long-term debt

 

$

1,691,145

 

 

$

1,727,457

 

 

(in thousands)

 

Carrying Value

 

 

Fair Value
(Level 2)

 

Balance at December 31, 2024

 

 

 

 

 

 

Term Loan Facility

 

$

1,105,995

 

 

$

1,153,346

 

Notes

 

 

615,087

 

 

 

612,533

 

Total long-term debt

 

$

1,721,082

 

 

$

1,765,879

 
Fair Value, Recurring [Member]  
Summary of Financial Assets and Liabilities Measured on Recurring Basis

The following table sets forth the Company’s financial assets and liabilities measured on a recurring basis at fair value, categorized by input level within the fair value hierarchy.

 

 

September 30, 2025

 

(in thousands)

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

670

 

 

$

—

 

 

$

670

 

 

$

—

 

Total liabilities measured at fair value

 

$

670

 

 

$

—

 

 

$

670

 

 

$

—

 

 

 

 

December 31, 2024

 

(in thousands)

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

796

 

 

$

—

 

 

$

796

 

 

$

—

 

Total assets measured at fair value

 

$

796

 

 

$

—

 

 

$

796

 

 

$

—

 

 
v3.25.3
Segments (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Summary of Revenues, Significant Expenses and Operating Income (Loss) by Segment

The tables below summarize revenues, significant expenses and operating income (loss) by reportable segment:

 

Three Months Ended September 30, 2025

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

288,804

 

 

$

377,707

 

 

$

248,501

 

 

$

915,012

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

155,481

 

 

 

175,298

 

 

 

149,345

 

 

 

480,124

 

Reimbursable expenses1

 

30,767

 

 

 

103,363

 

 

 

—

 

 

 

134,130

 

Other segment items2

 

72,753

 

 

 

67,390

 

 

 

79,592

 

 

 

219,735

 

Depreciation and amortization

 

31,487

 

 

 

10,744

 

 

 

8,512

 

 

 

50,743

 

Income from equity method investments

 

(1,408

)

 

 

—

 

 

 

—

 

 

 

(1,408

)

Gain on divestiture

 

(8,472

)

 

 

—

 

 

 

—

 

 

 

(8,472

)

Total segment operating expenses from continuing operations

 

280,608

 

 

 

356,795

 

 

 

237,449

 

 

 

874,852

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

8,196

 

 

$

20,912

 

 

$

11,052

 

 

$

40,160

 

 

 

Three Months Ended September 30, 2024

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

331,357

 

 

$

342,731

 

 

$

265,182

 

 

$

939,270

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

172,948

 

 

 

181,871

 

 

 

160,408

 

 

 

515,227

 

Reimbursable expenses1

 

48,072

 

 

 

92,084

 

 

 

—

 

 

 

140,156

 

Other segment items2

 

92,275

 

 

 

57,900

 

 

 

87,838

 

 

 

238,013

 

Depreciation and amortization

 

33,087

 

 

 

10,289

 

 

 

8,490

 

 

 

51,866

 

Income from equity method investments

 

(2,815

)

 

 

—

 

 

 

—

 

 

 

(2,815

)

Total segment operating expenses from continuing operations

 

343,567

 

 

 

342,144

 

 

 

256,736

 

 

 

942,447

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

(12,210

)

 

$

587

 

 

$

8,446

 

 

$

(3,177

)

 

 

 

Nine Months Ended September 30, 2025

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

873,866

 

 

$

1,039,433

 

 

$

697,212

 

 

$

2,610,511

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

482,040

 

 

 

500,800

 

 

 

448,665

 

 

 

1,431,505

 

Reimbursable expenses1

 

102,272

 

 

 

295,597

 

 

 

—

 

 

 

397,869

 

Other segment items2

 

226,747

 

 

 

182,804

 

 

 

198,272

 

 

 

607,823

 

Depreciation and amortization

 

94,511

 

 

 

31,965

 

 

 

25,326

 

 

 

151,802

 

Income from equity method investments

 

(5,566

)

 

 

—

 

 

 

—

 

 

 

(5,566

)

Gain on divestiture

 

(8,472

)

 

 

—

 

 

 

—

 

 

 

(8,472

)

Total segment operating expenses from continuing operations

 

891,532

 

 

 

1,011,166

 

 

 

672,263

 

 

 

2,574,961

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

(17,666

)

 

$

28,267

 

 

$

24,949

 

 

$

35,550

 

 

 

Nine Months Ended September 30, 2024

 

(in thousands)

Branded Services

 

 

Experiential Services

 

 

Retailer Services

 

 

Total Company

 

Revenues

$

982,752

 

 

$

969,590

 

 

$

721,697

 

 

$

2,674,039

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

552,891

 

 

 

527,367

 

 

 

475,086

 

 

 

1,555,344

 

Reimbursable expenses1

 

132,907

 

 

 

258,570

 

 

 

—

 

 

 

391,477

 

Other segment items2

 

244,183

 

 

 

149,031

 

 

 

208,481

 

 

 

601,695

 

Impairment of goodwill

 

99,670

 

 

 

—

 

 

 

—

 

 

 

99,670

 

Depreciation and amortization

 

97,401

 

 

 

31,224

 

 

 

24,306

 

 

 

152,931

 

Loss from equity method investments

 

(2,692

)

 

 

—

 

 

 

—

 

 

 

(2,692

)

Total segment operating expenses from continuing operations

 

1,124,360

 

 

 

966,192

 

 

 

707,873

 

 

 

2,798,425

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating (loss) income from continuing operations

$

(141,608

)

 

$

3,398

 

 

$

13,824

 

 

$

(124,386

)

 

 

 

 

(1) Reimbursable expenses are costs incurred in the delivery of services to the Company's clients that the client has agreed to reimburse, including media, sample, retailer fees and other marketing and production costs.

(2) The “other segment items” category primarily consists of costs incurred in the execution of service obligations, including supplies, technology, and other direct expenses such as travel and indirect general and administrative expenses such as professional fees. These costs align with the segment-level information regularly provided to the CODM and represent the difference between revenue and the significant expense categories above in determining segment profitability.
v3.25.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
Schedule of stock-based compensation expense and equity-based compensation expense The Company recognized stock-based compensation expense as follows:

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands)

2025

 

 

2024

 

 

2025

 

 

2024

 

Restricted stock-based unit awards

$

5,970

 

 

$

5,121

 

 

$

14,168

 

 

$

14,265

 

Other share-based awards

 

1,445

 

 

 

3,022

 

 

 

6,315

 

 

 

9,959

 

Total stock-based compensation before tax

 

7,415

 

 

 

8,143

 

 

 

20,483

 

 

 

24,224

 

Tax benefit

 

(1,491

)

 

 

(1,429

)

 

 

(3,635

)

 

 

(4,038

)

Total stock-based compensation expense included in net income (loss)

$

5,924

 

 

$

6,714

 

 

$

16,848

 

 

$

20,186

 
Summary of Performance Stock Units The following table presents the number of PSUs that would potentially be issued upon achievement of performance criteria at threshold, target and maximum. The maximum potential expense if the maximum achievement level were met for these awards has been provided in the table below. Recognition of expense associated with performance-based stock is not permitted until achievement of the performance targets are probable of occurring.

Year Granted

 

Number of
Shares
Threshold

 

 

Number of
Shares
Target

 

 

Number of
Shares
Maximum

 

 

Weighted Average Grant Date Fair Value Per Share

 

 

Maximum Remaining Unrecognized Compensation Expense

 

 

Weighted-average remaining requisite service periods

 

2025

 

 

464,057

 

 

 

3,712,457

 

 

 

7,424,915

 

 

$

1.31

 

 

$

5,977,758

 

 

 

2.6 years

 

2024

 

 

138,369

 

 

 

1,106,955

 

 

 

1,949,348

 

 

$

3.38

 

 

$

1,897,716

 

 

 

1.6 years

 

2023

 

 

3,520,652

 

 

 

3,520,652

 

 

 

5,280,978

 

 

$

2.12

 

 

$

2,099,122

 

 

 

0.7 years

 
Employee Stock Option [Member]  
Summary of stock option plan activity

During the nine months ended September 30, 2025, the following activities involving stock options occurred under the Plan:

 

 

Stock Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life

 

 

Aggregate Intrinsic Value
(in thousands)

 

Outstanding at January 1, 2025

 

 

20,433,018

 

 

$

5.75

 

 

 

 

 

 

 

Granted

 

 

7,216,054

 

 

$

1.31

 

 

 

 

 

 

 

Forfeited

 

 

(1,811,428

)

 

$

6.59

 

 

 

 

 

 

 

Cancelled/Expired

 

 

(146,373

)

 

$

2.83

 

 

 

 

 

 

 

Outstanding at September 30, 2025

 

 

25,691,271

 

 

$

4.46

 

 

 

6.6 years

 

 

$

1,559

 

Exercisable at September 30, 2025

 

 

7,746,630

 

 

$

3.28

 

 

 

6.2 years

 

 

$

—

 
PSU [Member]  
Summary of stock option plan activity

The following table summarizes the PSU activity for the nine months ended September 30, 2025:

 

 

Performance Share Units

 

 

Weighted Average Grant
Date Fair Value

 

Outstanding at January 1, 2025

 

 

6,770,840

 

 

$

2.56

 

Granted

 

 

4,005,531

 

 

$

1.30

 

Distributed

 

 

(1,564,802

)

 

$

2.32

 

Forfeited

 

 

(1,159,926

)

 

$

2.22

 

PSU performance adjustment (1)

 

 

288,421

 

 

$

4.33

 

Outstanding at September 30, 2025 (2)

 

 

8,340,064

 

 

$

2.05

 

 

 

 

 

(1) The number of PSUs outstanding was adjusted during the first quarter of fiscal year 2025, to reflect the 128.3% achievement level approved by the HCC for fiscal year 2024.

(2) PSU award activity is presented at target until the period in which the HCC approves the achievement percentages, at which point the awards are adjusted accordingly, subject to additional performance requirements and service-based vesting conditions.
Restricted Stock Units (RSUs) [Member]  
Summary of stock option plan activity

During the nine months ended September 30, 2025, the following activities involving RSUs occurred under the Plan:

 

 

 

Number of RSUs

 

 

Weighted Average Grant
Date Fair Value

 

Outstanding at January 1, 2025

 

 

11,817,446

 

 

$

3.28

 

Granted

 

 

20,823,178

 

 

$

1.30

 

Distributed

 

 

(5,283,871

)

 

$

3.37

 

Forfeited

 

 

(3,102,533

)

 

$

2.04

 

Outstanding at September 30, 2025

 

 

24,254,220

 

 

$

1.72

 

 
v3.25.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Summary of Reconciliation of Basic and Diluted Earnings Per Common Share

The following is a reconciliation of basic and diluted earnings per common share:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands, except share and earnings per share data)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic earnings per share computation:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to stockholders of Advantage Solutions Inc.

 

$

20,565

 

 

$

(37,320

)

 

$

(66,005

)

 

$

(200,469

)

Net (loss) income from discontinued operations, net of tax

 

 

—

 

 

 

(5,456

)

 

 

—

 

 

 

53,743

 

Less: net income from discontinued operations attributable to noncontrolling interest, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,192

 

Net (loss) income from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

—

 

 

$

(5,456

)

 

$

—

 

 

$

51,551

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares - basic

 

 

325,921,176

 

 

 

321,080,571

 

 

 

323,988,621

 

 

 

321,774,115

 

Basic income (loss) per common share from continuing operations attributable to stockholders of Advantage Solutions Inc.

 

$

0.06

 

 

$

(0.12

)

 

$

(0.20

)

 

$

(0.62

)

Basic (loss) earnings per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

—

 

 

$

(0.02

)

 

$

—

 

 

$

0.17

 

Diluted earnings per share computation:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to stockholders of Advantage Solutions Inc.

 

$

20,565

 

 

$

(37,320

)

 

$

(66,005

)

 

$

(200,469

)

Net (loss) income from discontinued operations, net of tax

 

 

—

 

 

 

(5,456

)

 

 

—

 

 

 

53,743

 

Less: net income from discontinued operations attributable to noncontrolling interest, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,192

 

Net (loss) income from discontinued operations attributable to stockholders of Advantage Solutions Inc.

 

$

—

 

 

$

(5,456

)

 

$

—

 

 

$

51,551

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

325,921,176

 

 

 

321,080,571

 

 

 

323,988,621

 

 

 

321,774,115

 

Performance stock units

 

 

3,727,256

 

 

 

—

 

 

 

—

 

 

 

—

 

Restricted stock units

 

 

9,880,861

 

 

 

—

 

 

 

—

 

 

 

—

 

Employee stock purchase plan and stock options

 

 

317,904

 

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average common shares - diluted

 

 

339,847,197

 

 

 

321,080,571

 

 

 

323,988,621

 

 

 

321,774,115

 

Diluted income (loss) per common share from continuing operations

 

$

0.06

 

 

$

(0.12

)

 

$

(0.20

)

 

$

(0.62

)

Diluted (loss) income per common share from discontinued operations

 

$

—

 

 

$

(0.02

)

 

$

—

 

 

$

0.17

 
v3.25.3
Organization and Significant Accounting Policies - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Contract with customers liability revenue recognised $ 4.3 $ 1.3 $ 20.1 $ 18.1
Warrant [Member] | ADV [Member] | ADVWW [Member]        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Class of warrant or right exercise price of warrants or rights     $ 11.5  
v3.25.3
Organization and Significant Accounting Policies - Disaggregation Of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 915,012 $ 939,270 $ 2,610,511 $ 2,674,039
Branded Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 288,804 331,357 873,866 982,752
Branded Services [Member] | Brokerage Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 105,313 123,965 311,292 373,961
Branded Services [Member] | Branded Merchandising Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 102,197 106,018 307,261 319,791
Branded Services [Member] | Omni Commerce Marketing Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 81,294 101,374 255,313 289,000
Experiential Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 377,707 342,731 1,039,433 969,590
Retail Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 248,501 265,182 697,212 721,697
Retail Services [Member] | Retail Merchandising Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 181,419 189,002 534,773 543,700
Retail Services [Member] | Advisory Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 52,472 59,039 116,742 129,831
Retail Services [Member] | Agency Services [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 14,610 $ 17,141 $ 45,697 $ 48,166
v3.25.3
Discontinued Operations - Additional information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 31, 2024
Jan. 31, 2024
Sep. 30, 2025
Sep. 30, 2025
Sep. 30, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from sale         $ 65.2
Retailer Services Segment [Member]          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Gain on divestitures         $ 70.2
Jun Group [Member]          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from sale of productive assets $ 185.0        
Proceeds from sales of business $ 130.0        
Jun Group First Installment [Member]          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from sales of business     $ 22.5    
Jun Group Second Installment [Member]          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from sales of business       $ 27.5  
Foodservice Businesses [Member]          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Percentage of ownership stake sold     7.50%    
Cash proceeds from sale of ownership interest     $ 18.6    
Gain on sale of ownership interest     $ 8.5    
2024 foodservice businesses held for sale [Member]          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]          
Proceeds from sale   $ 91.0      
Percentage of ownership stake sold   7.50%      
Fair value at acquisition   $ 8.4      
v3.25.3
Discontinued Operations - Summary of Statements of Operations of Discontinued Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Gain on divestitures $ (8,472) $ 0 $ (8,472) $ 0
Net income from discontinued operations, net of tax 0 (5,456) 0 53,743
Less: net income from discontinued operations attributable to noncontrolling interest, net of tax 0 0 0 2,192
Net (loss) income from discontinued operations attributable to stockholders of Advantage Solutions Inc. $ 0 (5,456) $ 0 51,551
2024 foodservice businesses held for sale [Member]        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Revenues   6,509   80,017
Cost of revenues (exclusive of depreciation and amortization shown separately below)   4,077   59,605
Selling, general, and administrative expenses   3,238   15,816
Gain on divestitures   (25,065)   (95,261)
Depreciation and amortization   204   4,695
Total operating expenses   (17,546)   (15,145)
Operating income from discontinued operations   24,055   95,162
Interest expense   0   48
Total other expenses   0   48
Income before income taxes from discontinued operations   24,055   95,114
Provision for income taxes from discontinued operations   29,511   41,371
Net income from discontinued operations, net of tax   (5,456)   53,743
Less: net income from discontinued operations attributable to noncontrolling interest, net of tax   0   2,192
Net (loss) income from discontinued operations attributable to stockholders of Advantage Solutions Inc.   $ (5,456)   $ 51,551
v3.25.3
Discontinued Operations - Summary of Cash Flows From Discontinued Operations (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Net effect of foreign currency changes on cash from discontinued operations $ 178 $ (1,405)
2024 foodservice businesses held for sale [Member]    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Net cash provided by operating activities from discontinued operations   6,437
Net cash used in investing activities from discontinued operations   (7,304)
Net cash used in financing activities from discontinued operations   (4,362)
Net effect of foreign currency changes on cash from discontinued operations   (412)
Net change in cash, cash equivalents and restricted cash from discontinued operations   $ (5,641)
v3.25.3
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Goodwill [Line Items]          
Carrying amount of goodwill $ 477,021   $ 477,021   $ 477,021
Accumulated impairment losses 2,300,000   2,300,000   $ 2,300,000
Goodwill impairment 0 $ 0 0 $ 99,670  
Amortization expense $ 42,900 44,500 $ 128,800 $ 133,000  
Branded Agencies [Member]          
Goodwill [Line Items]          
Goodwill impairment   $ 99,700      
v3.25.3
Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Finite-lived Intangible Assets [Roll Forward]    
Gross Carrying Value $ 2,344,967 $ 2,344,982
Accumulated Amortization 1,750,586 1,621,904
Total finite-lived intangible assets 594,381 723,078
Indefinite-lived Intangible Assets [Roll Forward]    
Indefinite-Lived Intangible Assets (Excluding Goodwill) 1,480,000 1,480,000
Indefinite-Lived Trade Names 609,500 609,500
Intangible Assets, Gross (Excluding Goodwill) 3,824,967 3,824,982
Other Intangible Assets Accumulated Amortization 1,750,586 1,621,904
Indefinite Lived Trade Names Impairment Charges 870,500 870,500
Intangible Assets Impairement Charges 870,500 870,500
Intangible Assets, Net (Including Goodwill) $ 1,203,881 $ 1,332,578
Client relationships [Member]    
Finite-lived Intangible Assets [Roll Forward]    
Weighted Average Useful Life 14 years 14 years
Gross Carrying Value $ 2,256,367 $ 2,256,382
Accumulated Amortization 1,681,588 1,559,551
Total finite-lived intangible assets $ 574,779 $ 696,831
Trade name [Member]    
Finite-lived Intangible Assets [Roll Forward]    
Weighted Average Useful Life 10 years 10 years
Gross Carrying Value $ 88,600 $ 88,600
Accumulated Amortization 68,998 62,353
Total finite-lived intangible assets $ 19,602 $ 26,247
v3.25.3
Debt - Summary of Long term Debt, Net of Current Portion (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Debt Disclosure [Line Items]    
Total long-term debt $ 1,691,145 $ 1,721,082
Less: current portion 13,250 13,250
Less: debt issuance costs 15,737 21,142
Long-term debt, net of current portion 1,662,158 1,686,690
Term Loan Facility Due 2027 [Member]    
Debt Disclosure [Line Items]    
Total long-term debt 1,096,058 1,105,995
6.5% Senior Secured Notes Due 2028 [Member]    
Debt Disclosure [Line Items]    
Total long-term debt $ 595,087 $ 615,087
v3.25.3
Debt - Summary of Long term Debt, Net of Current Portion (Parenthetical) (Details)
 9 Months Ended
Sep. 30, 2025
Term Loan Facility Due 2027 [Member]  
Debt Disclosure [Line Items]  
Term loan facility year of maturity 2027
6.5% Senior Secured Notes Due 2028 [Member]  
Debt Disclosure [Line Items]  
Rate of interest 6.50%
Senior secured notes year of maturity 2028
v3.25.3
Debt - Additional Information (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Short-Term Debt [Line Items]            
Repayment of minimum quarterly principal payments         $ 90,000,000 $ 0
Gain on repurchase of debt instrument     $ 1,800,000 $ 3,500,000   8,600,000
Debt instrument repurchased amount $ 0 $ 0 $ 20,000,000 50,400,000   127,900,000
Interest Expense [Member]            
Short-Term Debt [Line Items]            
Gain on repurchase of debt instrument       500,000   500,000
Term Loan Facility [Member]            
Short-Term Debt [Line Items]            
Line of credit facility periodic payment principal         13,300,000  
Repayment of minimum quarterly principal payments $ 3,300,000     3,300,000 $ 9,900,000 9,900,000
Debt instrument terms of interest payment         Interest on the 6.5% Senior Secured Notes due 2028 (the “Notes”) is payable semi-annually in arrears  
Rate of interest 6.50%       6.50%  
Term Loan Facility [Member]            
Short-Term Debt [Line Items]            
Debt instrument repurchased amount $ 0     $ 29,800,000 $ 0 $ 29,800,000
Revolving Credit Facility [Member]            
Short-Term Debt [Line Items]            
Line of credit facility remaining borrowing capacity 0       0  
Line of credit facility, maximum borrowing capacity $ 500,000,000       $ 500,000,000  
Fee Percentage One [Member] | Revolving Credit Facility [Member]            
Short-Term Debt [Line Items]            
Line of credit unused commitment fee percentage         0.25%  
Fee Percentage Two [Member] | Revolving Credit Facility [Member]            
Short-Term Debt [Line Items]            
Line of credit unused commitment fee percentage         0.375%  
Base Rate [Member] | Minimum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         3.50%  
Base Rate [Member] | Maximum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         3.25%  
Floating Rate of Term SOFR [Member] | Term Loan Facility [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         4.25%  
Base Rate or Canadian Prime Rate plus [Member] | Variable Interest Rate Spread One [Member] | Revolving Credit Facility [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         1.00%  
Base Rate or Canadian Prime Rate plus [Member] | Variable Interest Rate Spread One [Member] | Revolving Credit Facility [Member] | Minimum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         0.75%  
Base Rate or Canadian Prime Rate plus [Member] | Variable Interest Rate Spread One [Member] | Revolving Credit Facility [Member] | Maximum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         1.25%  
SOFR or Alternative Currency Spread plus [Member] | Variable Interest Rate Spread One [Member] | Revolving Credit Facility [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         2.00%  
SOFR or Alternative Currency Spread plus [Member] | Variable Interest Rate Spread One [Member] | Revolving Credit Facility [Member] | Minimum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         1.75%  
SOFR or Alternative Currency Spread plus [Member] | Variable Interest Rate Spread One [Member] | Revolving Credit Facility [Member] | Maximum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         2.25%  
SOFR [Member] | Minimum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         4.50%  
SOFR [Member] | Maximum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         4.25%  
SOFR [Member] | Term Loan Facility [Member] | Minimum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         0.11%  
SOFR [Member] | Term Loan Facility [Member] | Maximum [Member]            
Short-Term Debt [Line Items]            
Debt instrument, base rate margin         0.26%  
v3.25.3
Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Assets measured at fair value    
Assets measured at fair value $ 670 $ 796
Derivative Financial Instruments [Member]    
Assets measured at fair value    
Assets measured at fair value 670 796
Quoted Prices in Active Markets (Level 1) [Member]    
Assets measured at fair value    
Assets measured at fair value 0 0
Quoted Prices in Active Markets (Level 1) [Member] | Derivative Financial Instruments [Member]    
Assets measured at fair value    
Assets measured at fair value 0 0
Significant Other Observable Inputs (Level 2) [Member]    
Assets measured at fair value    
Assets measured at fair value 670 796
Significant Other Observable Inputs (Level 2) [Member] | Derivative Financial Instruments [Member]    
Assets measured at fair value    
Assets measured at fair value 670 796
Significant Other Unobservable Inputs (Level 3) [Member]    
Assets measured at fair value    
Assets measured at fair value 0 0
Significant Other Unobservable Inputs (Level 3) [Member] | Derivative Financial Instruments [Member]    
Assets measured at fair value    
Assets measured at fair value $ 0 $ 0
v3.25.3
Fair Value of Financial Instruments - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Interest Rate Cap [Member]          
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]          
Gain (loss) related to changes in fair values of the forward contracts, Statement of Operations and Comprehensive Income [Extensible Enumeration] Interest expense, net Interest expense, net Interest expense, net Interest expense, net  
Gain (loss) related to changes in fair values of the forward contracts $ 0.5 $ (3.7) $ (1.5) $ 1.7  
Derivative, notional amount 700.0   700.0    
Other Long-term Liabilities [Member] | Interest Rate Collar [Member]          
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]          
Fair value of outstanding interest rate caps $ 0.7   $ 0.7    
Other Assets [Member] | Interest Rate Collar [Member]          
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]          
Fair value of outstanding interest rate caps         $ 0.8
v3.25.3
Fair Value of Financial Instruments - Summary of Financial Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Carrying amount $ 1,691,145 $ 1,721,082
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,727,457 1,765,879
Term Loan Credit Facility [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Carrying amount 1,096,058 1,105,995
Term Loan Credit Facility [Member] | Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 1,121,094 1,153,346
Notes [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Carrying amount 595,087 615,087
Notes [Member] | Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 606,363 $ 612,533
v3.25.3
Related Party Transactions - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Related Party Transactions (Textual)            
Revenues $ 915,012   $ 939,270 $ 2,610,511 $ 2,674,039  
Majority-Owned Subsidiary, Nonconsolidated [Member]            
Related Party Transactions (Textual)            
Revenues 2,700   2,700 3,700 14,000  
Accounts receivable from client 800     800   $ 900
Client 1 [Member]            
Related Party Transactions (Textual)            
Revenues 1,200   1,300 3,700 3,900  
Accounts receivable from client $ 800     $ 800   400
Client 2 [Member]            
Related Party Transactions (Textual)            
Revenues   $ 2,200 $ 2,000   $ 5,900  
Accounts receivable from client           $ 200
v3.25.3
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Tax Disclosure [Abstract]        
Effective tax rates from continuing operations, percent (287.00%) 11.50% 5.00% 15.90%
Discrete income tax expense (benefit) $ (2.7)      
v3.25.3
Segments - Additional Information (Details)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] srt:ChiefOperatingOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description The CODM utilizes segment operating income to assess the performance and allocate resources to each segment.
v3.25.3
Segments - Summary of Revenues, Significant Expenses and Operating Income (Loss) by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Revenues $ 915,012 $ 939,270 $ 2,610,511 $ 2,674,039
Compensation and benefits 480,124 515,227 1,431,505 1,555,344
Reimbursable expenses 134,130 140,156 397,869 391,477
Other segment items 219,735 238,013 607,823 601,695
Impairment of goodwill 0 0 0 99,670
Depreciation and amortization 50,743 51,866 151,802 152,931
(Income) loss from equity method investments (1,408) (2,815) (5,566) (2,692)
Gain on divestiture (8,472) 0 (8,472) 0
Total operating expenses 874,852 942,447 2,574,961 2,798,425
Operating income (loss) from continuing operations 40,160 (3,177) 35,550 (124,386)
Branded Services [Member]        
Segment Reporting Information [Line Items]        
Revenues 288,804 331,357 873,866 982,752
Compensation and benefits 155,481 172,948 482,040 552,891
Reimbursable expenses 30,767 48,072 102,272 132,907
Other segment items 72,753 92,275 226,747 244,183
Impairment of goodwill       99,670
Depreciation and amortization 31,487 33,087 94,511 97,401
(Income) loss from equity method investments (1,408) (2,815) (5,566) (2,692)
Gain on divestiture (8,472)   (8,472)  
Total operating expenses 280,608 343,567 891,532 1,124,360
Operating income (loss) from continuing operations 8,196 (12,210) (17,666) (141,608)
Experiential Services [Member]        
Segment Reporting Information [Line Items]        
Revenues 377,707 342,731 1,039,433 969,590
Compensation and benefits 175,298 181,871 500,800 527,367
Reimbursable expenses 103,363 92,084 295,597 258,570
Other segment items 67,390 57,900 182,804 149,031
Depreciation and amortization 10,744 10,289 31,965 31,224
Total operating expenses 356,795 342,144 1,011,166 966,192
Operating income (loss) from continuing operations 20,912 587 28,267 3,398
Retailer Services [Member]        
Segment Reporting Information [Line Items]        
Revenues 248,501 265,182 697,212 721,697
Compensation and benefits 149,345 160,408 448,665 475,086
Other segment items 79,592 87,838 198,272 208,481
Depreciation and amortization 8,512 8,490 25,326 24,306
Total operating expenses 237,449 256,736 672,263 707,873
Operating income (loss) from continuing operations $ 11,052 $ 8,446 $ 24,949 $ 13,824
v3.25.3
Commitments and Contingencies - Additional Information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Surety Bond [Member]    
Commitments And Contingencies [Line Items]    
Surety bonds outstanding $ 15.0 $ 15.0
v3.25.3
Stock-Based Compensation - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Mar. 31, 2024
2020 Incentive Award Plan [Member]          
Unrecognized compensation expense     $ 6.4    
Weighted-average period     2 years 2 months 12 days    
Options exercised 0 0 0 0  
Performance Stock Units [Member]          
Vesting period     3 years    
Performance Restricted Stock Units 2024 and 2025 [Member] | Minimum [Member]          
Vesting percentage     0.00%    
Performance Restricted Stock Units 2024 and 2025 [Member] | Maximum [Member]          
Vesting percentage     200.00%    
Performance stock units 2024 [Member]          
Vesting percentage     128.30%    
Performance stock units 2025 [Member]          
Vesting percentage     0.00%    
Performance stock units 2023 [Member]          
Annual achievement percentage for PSUs granted         150.00%
Performance stock units 2023 [Member] | Minimum [Member]          
Vesting percentage     0.00%    
Performance stock units 2023 [Member] | Maximum [Member]          
Vesting percentage     150.00%    
Restricted Stock Units (RSUs) [Member]          
Vesting period     3 years    
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount $ 22.2   $ 22.2    
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period     2 years 2 months 12 days    
Number of shares, Granted     20,823,178    
Employee Stock Option [Member]          
Weighted-average period     6 years 7 months 6 days    
Number of shares, Granted     7,216,054    
v3.25.3
Stock-Based Compensation - Summary of stock-based compensation expense and equity-based compensation expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Total stock-based compensation before tax     $ 20,483 $ 24,224
2020 Incentive Award Plan [Member]        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Restricted stock-based unit awards $ 5,970 $ 5,121 14,168 14,265
Other share-based awards 1,445 3,022 6,315 9,959
Total stock-based compensation before tax 7,415 8,143 20,483 24,224
Tax benefit (1,491) (1,429) (3,635) (4,038)
Total stock-based compensation expense included in net income (loss) $ 5,924 $ 6,714 $ 16,848 $ 20,186
v3.25.3
Stock-Based Compensation - Summary of Performance restricted Stock Units (Details) - Revenue [Member] - Performance Stock Units Member [Member] - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]      
Number of Shares Threshold   138,369 3,520,652
Number of Shares Target   1,106,955 3,520,652
Number of Shares Maximum   1,949,348 5,280,978
Weighted Average Fair Value Per Share   $ 3.38 $ 2.12
Maximum Remaining Unrecognized Compensation Expense   $ 1,897,716 $ 2,099,122
Weighted-average remaining requisite service periods   1 year 7 months 6 days 8 months 12 days
Forecast [Member]      
Class of Stock [Line Items]      
Number of Shares Threshold 464,057    
Number of Shares Target 3,712,457    
Number of Shares Maximum 7,424,915    
Weighted Average Fair Value Per Share $ 1.31    
Maximum Remaining Unrecognized Compensation Expense $ 5,977,758    
Weighted-average remaining requisite service periods 2 years 7 months 6 days    
v3.25.3
Stock Based Compensation - Summary of PSU Activity (Details) - Performance Shares [Member]
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Beginning balance | shares 6,770,840
Number of shares, Granted | shares 4,005,531
Number of shares, Distributed | shares (1,564,802)
Number of shares, Forfeited | shares (1,159,926)
PSU performance adjustment | shares 288,421 [1]
Ending balance | shares 8,340,064 [2]
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares $ 2.56
Weighted Average Grant Date Fair Value, Granted | $ / shares 1.3
Weighted Average Grant Date Fair Value, Distributed | $ / shares 2.32
Weighted Average Grant Date Fair Value, Forfeited | $ / shares 2.22
Weighted Average Grant Date Fair Value, PSU performance adjustment | $ / shares 4.33 [1]
Weighted Average Grant Date Fair Value, Ending balance | $ / shares $ 2.05 [2]
[1] The number of PSUs outstanding was adjusted during the first quarter of fiscal year 2025, to reflect the 128.3% achievement level approved by the HCC for fiscal year 2024.
[2] PSU award activity is presented at target until the period in which the HCC approves the achievement percentages, at which point the awards are adjusted accordingly, subject to additional performance requirements and service-based vesting conditions.
v3.25.3
Stock Based Compensation - Summary of PSU Activity (Parenthetical) (Details)
Sep. 30, 2025
Performance Shares [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Annual achievement percentage for PSUs granted 128.30%
v3.25.3
Stock-Based Compensation - Summary of Stock Option Plan Activity (Details)
 9 Months Ended
Sep. 30, 2025
USD ($)
$ / shares
shares
Employee Stock Option [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Beginning balance | shares 20,433,018
Number of shares, Granted | shares 7,216,054
Number of shares, Forfeited | shares (1,811,428)
Cancelled/Expired | shares (146,373)
Ending balance | shares 25,691,271
Exercisable | shares 7,746,630
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares $ 5.75
Weighted Average Grant Date Fair Value, Granted | $ / shares 1.31
Weighted Average Grant Date Fair Value, Forfeited | $ / shares 6.59
Weighted Average Grant Date Fair Value, Cancelled/Expired | $ / shares 2.83
Weighted Average Grant Date Fair Value, Ending balance | $ / shares 4.46
Weighted Average Exercise Price, Exercisable | $ / shares $ 3.28
Weighted Average Remaining Contractual Life, Outstanding 6 years 7 months 6 days
Weighted Average Remaining Contractual Life, Exercisable 6 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding | $ $ 1,559
Aggregate Intrinsic Value, Exercisable | $ $ 0
Restricted Stock Units (RSUs) [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Beginning balance | shares 11,817,446
Number of shares, Granted | shares 20,823,178
Number of shares, Distributed | shares (5,283,871)
Number of shares, Forfeited | shares (3,102,533)
Ending balance | shares 24,254,220
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares $ 3.28
Weighted Average Grant Date Fair Value, Granted | $ / shares 1.3
Weighted Average Grant Date Fair Value, Distributed | $ / shares 3.37
Weighted Average Grant Date Fair Value, Forfeited | $ / shares 2.04
Weighted Average Grant Date Fair Value, Ending balance | $ / shares $ 1.72
v3.25.3
Earnings Per Share - Summary of Reconciliation of Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Net income (loss) from continuing operations attributable to stockholders of Advantage Solutions Inc., Basic $ 20,565 $ (37,320) $ (66,005) $ (200,469)
Net (loss) income from discontinued operations, net of tax, Basic 0 (5,456) 0 53,743
Less: net income from discontinued operations attributable to noncontrolling interest, net of tax, Basic 0 0 0 2,192
Net (loss) income from discontinued operations attributable to stockholders of Advantage Solutions Inc. $ 0 $ (5,456) $ 0 $ 51,551
Weighted average common shares - basic 325,921,176 321,080,571 323,988,621 321,774,115
Basic income (loss) per common share from continuing operations attributable to stockholders of Advantage Solutions Inc. $ 0.06 $ (0.12) $ (0.2) $ (0.62)
Basic (loss) earnings per common share from discontinued operations attributable to stockholders of Advantage Solutions Inc. $ 0 $ (0.02) $ 0 $ 0.17
Net income (loss) from continuing operations attributable to stockholders of Advantage Solutions Inc., Diluted $ 20,565 $ (37,320) $ (66,005) $ (200,469)
Net (loss) income from discontinued operations, net of tax, Diluted 0 (5,456) 0 53,743
Less: net income from discontinued operations attributable to noncontrolling interest, net of tax, Diluted 0 0 0 2,192
Net Income (Loss) from Discontinued Operations Available to Common Shareholders, Diluted, Total $ 0 $ (5,456) $ 0 $ 51,551
Weighted average common shares outstanding 325,921,176 321,080,571 323,988,621 321,774,115
Performance stock units 3,727,256 0 0 0
Restricted stock units 9,880,861 0 0 0
Employee stock purchase plan and stock options 317,904 0 0 0
Weighted average common shares - diluted 339,847,197 321,080,571 323,988,621 321,774,115
Diluted income (loss) per common share from continuing operations $ 0.06 $ (0.12) $ (0.2) $ (0.62)
Diluted (loss) income per common share from discontinued operations $ 0 $ (0.02) $ 0 $ 0.17
v3.25.3
Earnings Per Share - Additional Information (Details) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Line Items]      
Antidiluted shares (in shares) 13,900,000 10,300,000 16,600,000
Common Class A [Member] | Private Placement Warrants [Member]      
Earnings Per Share [Line Items]      
Number of warrants or rights outstanding 18,578,321 18,578,321 18,578,321
Class of warrant or right exercise price of warrants or rights $ 11.5 $ 11.5 $ 11.5
v3.25.3
Subsequent Events - Additional Information (Details) - USD ($)
 3 Months Ended 9 Months Ended
Oct. 28, 2025
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Subsequent Event [Line Items]          
Change in fair value of warrant liabilities   $ (109,000) $ 40,000 $ (83,000) $ (359,000)
Subsequent Event [Member] | Warrant [Member]          
Subsequent Event [Line Items]          
Number of warrants exercised 0        
Expiration date warrants Oct. 28, 2025        
Change in fair value of warrant liabilities $ 0        
Warrants intrinsic value $ 0