Episode
Pass-Through Revenue: The Money That Was Never Yours, With Carson and Kristen
- Podcast
- The Agency Profit Podcast
- Published
- Jul 15, 2026
- Duration seconds
- 1892
- Processing state
not_requested- Canonical source
- https://parakeeto.com/blog/
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Summary
About this Episode In this episode of the Agency Profit Podcast, Kristen Kelly is joined by fellow Managing Director Carson Pierce to unpack one of the most misunderstood line items on an agency's books: pass-through costs. Drawing from real client cases they've each worked on recently, Kristen and Carson break down the first principles of Agency Gross Income (AGI), the number you get when you strip out money that was never really yours to keep, like media spend, event costs, and certain contractor fees. Together, they walk through cautionary tales of agencies that looked far bigger and more profitable than they actually were, from a "$10 million" events agency that was really a $2 million business to a founder who mistook off-the-books media dollars for cash on hand. From a clear decision tree for classifying contractors to practical tips for making pass-through visible on your P&L, this episode offers a grounded framework for understanding your agency's true size, so you can price, staff, and spend with a much clearer picture of what's actually yours.