Advantage Solutions Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, showing mixed performance. For the fourth quarter, revenues from continuing operations decreased to $892.3 million from $991.9 million in the prior year, and the net loss was $177.9 million compared to a net loss of $2.7 million year-over-year.
For the full fiscal year 2024, revenues from continuing operations were $3,566.3 million, down from $3,900.1 million in 2023. The net loss for the full year was $378.4 million, compared to a net loss of $81.2 million in the prior year.
Despite the GAAP declines, the company reported Adjusted EBITDA of $356 million for the full year, representing 0.2% organic growth. Adjusted Unlevered Free Cash Flow was $335 million, with a conversion rate of approximately 90%. The net leverage ratio stood at 4.0x.
Management stated that transformation initiatives continue to strengthen the company, with progress on modernizing technology, including the North America ERP system going live in Q1 2025 and Phase 2 for international operations completing in April 2025. The company expects growth in revenues and Adjusted EBITDA in 2025.
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