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Advantage Solutions Inc. obtained stockholder approval to amend its charter and implement a 1-for-25 reverse stock split of its Class A common stock. Proposal 1 passed with 289,434,910 votes for and 1,760,882 against, while an adjournment Proposal 2 also received approval.
Following the special meeting, the Board set the reverse split to become effective on March 26, 2026 at 5:00 p.m. ET, with split-adjusted trading beginning March 27, 2026 under the symbol ADV and new CUSIP 00791N 201. Every 25 shares will automatically convert into one share, with cash paid in lieu of fractional shares based on the March 26, 2026 Nasdaq closing price.
Advantage Solutions Inc. director James M. Kilts made an open-market purchase of 16,759 shares of Class A Common Stock. The shares were bought at a weighted-average price of $0.6996 per share, in multiple trades ranging from $0.6965 to $0.70.
Following this transaction, Kilts directly holds 1,532,106 shares of Advantage Solutions Class A Common Stock. The filing notes he can provide full details of the number of shares purchased at each individual price within the reported range upon request.
Advantage Solutions Inc. Chief Financial Officer Christopher Growe reported an open-market purchase of 50,000 shares of Class A common stock on March 6, 2026 at a weighted-average price of $0.6048 per share through a family trust.
Following this transaction, indirect holdings through the family trust totaled 244,021 shares, and direct holdings of Class A common stock stood at 402,109 shares. The purchase price reflects multiple trades within a range from $0.59 to $0.616 per share.
Advantage Solutions Inc. Chief Executive Officer David A. Peacock reported an open-market purchase of 200,000 shares of Class A common stock. The weighted-average price was $0.6439 per share, with individual trades between $0.62 and $0.65, bringing his direct holdings to 3,701,366 shares.
Advantage Solutions Inc. reported mixed fourth-quarter and full-year 2025 results, combining modest revenue movement with improved losses and strong cash generation. Q4 revenues were $932.1 million, up 4.5% year over year, while full-year revenues were $3,542.6 million, down 0.7% from 2024. The company posted a Q4 net loss of $161.7 million and a full-year net loss of $227.7 million, both narrower than the prior year, largely despite significant goodwill and intangible impairments.
Adjusted EBITDA was $87.7 million for Q4, down 7.3%, and $331.8 million for 2025, down 6.8%, with margins of 9.4%. Experiential Services delivered strong growth in revenue and Adjusted EBITDA, offset by declines in Branded and Retailer Services. Cash increased to $240.9 million at year-end, supported by $223.3 million of 2025 Adjusted Unlevered Free Cash Flow, equal to 67.3% of Adjusted EBITDA, and divestiture proceeds.
Net debt was $1.45 billion, resulting in a 4.4x Net Debt to last-twelve-month Adjusted EBITDA ratio. Management highlighted non-core divestitures generating roughly $55 million of proceeds, ongoing debt refinancing to extend maturities toward 2030, and an upcoming reverse stock split. For 2026, the company guides revenues to be flat to up low single digits and Adjusted EBITDA to be flat to down mid-single digits, with Adjusted Unlevered Free Cash Flow expected between $250 million and $275 million and net free cash flow conversion of about 25% of EBITDA.
Advantage Solutions Inc. director Yao Xiaofeng filed an initial ownership report on Form 3. This filing establishes their status as a director and discloses that there are no insider share purchases, sales, acquisitions, or dispositions reported in this filing.
Advantage Solutions Inc. director Thomas Brian Turner filed an initial statement of beneficial ownership on Form 3. This filing establishes his status as a director and records his equity position with the company, but it does not report any stock purchases, sales, or other transactions.
Advantage Solutions Inc. reported changes to its board of directors. Cameron Breitner and Adam Nebesar resigned from the board effective February 20, 2026. To fill these vacancies, the board appointed Thomas Turner as a Class I director and Xiaofeng “Frank” Yao as a Class II director, with terms running until the 2027 and 2028 annual stockholder meetings, respectively, unless they leave earlier.
Turner is a Senior Managing Director at CVC Advisors (U.S.) Inc., and Yao is President and Chief Commercial Officer of VXI Global Solutions, LLC and formerly a Managing Director at Bain Capital Private Equity. Both were designated under an existing stockholders agreement by affiliates CVC ASM Holdco, L.P. and BC Eagle Holdings, L.P. They will not receive the company’s standard non‑employee director compensation and have no disclosed related‑party transactions or family relationships with current directors or executives.
Advantage Solutions Inc. is asking stockholders at a March 16, 2026 virtual special meeting to approve a reverse stock split of its Class A common stock at a ratio between 1‑for‑10 and 1‑for‑25, with the exact ratio and timing set later by the Board.
The company has received a Nasdaq notice for failing to meet the $1.00 minimum bid price and views the reverse split as a way to help regain compliance, support future capital raising, and potentially broaden investor interest. The split would proportionally reduce outstanding shares and equity awards, while adjusting authorized common and preferred shares so there are relatively more authorized but unissued shares available for future use.
Stockholders are also being asked to approve a possible adjournment of the meeting to allow more time to solicit votes if support for the reverse split is initially insufficient. Holders of 327,507,690 shares of common stock as of February 6, 2026 may vote, one vote per share, via Internet, phone, mail, or during the virtual meeting.
Advantage Solutions Inc. entered a Transaction Support Agreement with holders of approximately 59.2% of its 6.50% Senior Secured Notes due 2028 and 54.3% of its existing term loans to pursue transactions that extend the maturities of its debt. These include exchanging Existing Notes for new 9.000% Senior Secured Notes due 2030 plus cash, and offering new term loans in exchange for existing term loans, with targeted completion by March 26, 2026. The company also launched a related exchange offer and consent solicitation and is working on an ABL facility extension. Preliminary 2025 results show estimated revenue of $3.5–$3.55 billion (about 1% lower than 2024), an operating loss from continuing operations of $120–$130 million (a 58% improvement versus 2024) and Adjusted EBITDA from Continuing Operations of $328–$333 million (about 7% below 2024).