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ADVANTAGE SOLUTIONS Advantage Solutions Reports Strong First Quarter 2021 Financial Results and Affirms 2021 Outlook Irvine , Calif , May 10 , 2021 - Advantage Solutions Inc. ( NASDAQ : ADV ) ( “ Advantage , " the “ Company , ” “ we ” or “ our ” ) , the leading provider of outsourced sales and marketing services to consumer goods manufacturers and retailers , today reported financial results for its fiscal first quarter ended March 31 , 2021 . " We are proud to report better than expected results for our third straight quarter , ” said Tanya Domier , Chief Executive Officer of Advantage . “ We are helping consumer goods companies and retailers navigate out of COVID , and our service to them has reinforced their trust in our essential sales and marketing services . While portions of our business continue to experience temporary headwinds from the pandemic , we are pleased with improving momentum in the quarter , ” Domier commented . “ Sustained strength in our sales segment and ramping recovery in our marketing segment during the first quarter leave us very confident in delivering on FY 2021 guidance of $ 515 to $ 525 million of Adjusted EBITDA . " " Importantly , I'd like to thank our associates . I couldn't be more proud of the team's passion and performance during these challenging times . Our associates have worked tirelessly to serve clients , customers and communities with critical solutions that help brands and retailers meet today's evolving needs , " Domier added . First Quarter 2021 Highlights Revenues were $ 791.0 million for the first quarter of 2021 , representing a decline of $ 88.4 million , or 10.0 % , from the first quarter of 2020 revenues of $ 879.4 million . Operating income was $ 37.6 million for the first quarter of 2021 , representing growth of $ 6.2 million , or 19.6 % , from the first quarter of 2020 operating income of $ 31.4 million . Net loss was $ 0.5 million for the first quarter of 2021 , representing an improvement of $ 21.2 million , or 97.5 % , from the first quarter of 2020 net loss $ 21.7 million . Adjusted EBITDA was $ 111.4 million for the first quarter of 2021 , representing growth of $ 5.1 million , or 4.8 % , from the first quarter of 2020 Adjusted EBITDA of $ 106.4 million . First quarter 2021 revenues declined $ 88.4 million , or 10.0 % , to $ 791.0 million compared to $ 879.4 million for the first quarter of 2020. The year - over - year decline in revenues was driven by a $ 114.9 million decline in the marketing segment , partially offset by $ 26.5 million of growth in the sales segment . The first quarter's decline in the marketing segment was the result of a COVID - driven dip year - on - year in the Company's in - store sampling business , partially offset by strength in digital agency businesses . The first quarter's growth in the sales segment was driven by still - elevated at - home consumption , new business wins and e - commerce growth . First quarter 2021 operating income grew $ 6.2 million , or 19.6 % , to $ 37.6 million compared to $ 31.4 million for the first quarter of 2020. The year - over - year growth in operating income came from mix- driven improvement in gross margins and prudent management of SG & A expenses . 1