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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 


 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 31, 2024

 

JAKKS PACIFIC, INC.

(Exact name of registrant as specified in its charter)

 

Delaware 

 

0-28104

 

95-4527222

(State or other jurisdiction
of incorporation)

 

(Commission

File Number)

 

(IRS Employer
Identification No.)

 

2951 28th Street, Santa Monica, California

90405

(Address of principal executive offices)

(Zip Code)

 

Registrant’s telephone number, including area code: (424) 268-9444

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, $.001 par value

JAKK

NASDAQ Global Select Market

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

   

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

   

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

   

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 



 

Item 2.02. Results of Operations and Financial Condition.

 

On July 31, 2024, we issued a press release announcing our second quarter and first half results for 2024. Following the issuance of the press release, on July 31, 2024 at 5:00 p.m. ET / 2:00 p.m. PT, we will host a teleconference and webcast for analysts, investors, media and others to discuss the results and other business topics. Such financial information included in the Exhibit attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. 

 

Item 9.01. Financial Statements and Exhibits

 

(d)         Exhibits

 

Exhibit

Description

99.1

July 31, 2024 Second Quarter and First Half 2024 Earnings Press Release

104

Cover Page Interactive Data File (formatted as Inline XBRL)

 



 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

JAKKS PACIFIC, INC.

   

Dated: July 31, 2024

 
 

By: /s/ JOHN KIMBLE                 

John Kimble, CFO

 

 
false 0001009829 0001009829 2024-07-31 2024-07-31
EX-99.1 2 ex_706257.htm EXHIBIT 99.1 ex_706257.htm

Exhibit 99.1

 
jp-logo.jpg

JAKKS PACIFIC REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS

 

Gross Margin Rate Improves 130 Basis Points vs. Prior Year

 

SANTA MONICA, Calif., July 31, 2024 – JAKKS Pacific, Inc. (NASDAQ: JAKK) today reported financial results for the second quarter ended June 30, 2024.

 

First-half net sales for JAKKS Pacific, Inc. were $238.7 million, a year-over-year decrease of 13.0%, primarily attributable to a lack of new content-related product launches, which occurred in the first half of last year.

 

Second Quarter 2024 Overview

 

Net sales were $148.6 million, a year-over-year decrease of 11.0%

 

o

Toys/Consumer Products net sales were $104.6 million, a year-over-year decrease of 11.3%

 

o

Costumes net sales were $44.0 million, a year-over-year decrease of 10.1%

 

Gross profit was $47.6 million, a year-over-year decrease of 7.1% from $51.2 million

 

Gross margin was 32.0%, up 130 basis points vs. Q2 2023

 

Operating income was $7.6 million (5.1% of net sales) vs. $16.4 million (9.9% of net sales) in Q2 2023

 

Net income attributable to common stockholders was $5.3 million or $0.47 per diluted share, compared to net income attributable to common stockholders of $6.1 million or $0.58 per share in Q2 2023

 

Adjusted net income attributable to common stockholders (a non-GAAP measure) was $7.3 million or $0.65 per diluted share, compared to an adjusted net income attributable to common stockholders of $13.3 million or $1.26 per diluted share in Q2 2023

 

Adjusted EBITDA (a non-GAAP measure) was $12.3 million, vs. $20.7 million in Q2 2023

 

Trailing twelve month adjusted EBITDA was $51.2 million (7.6% of net sales) down 23% from $66.9 million (9.2% of net sales) in the trailing twelve months ended June 2023

 

Management Commentary

“The first half of 2024 closes with our delivering solid results anchored by our evergreen business of time-tested toy categories and play patterns,” said Stephen Berman, CEO of JAKKS Pacific, Inc. “A lack of new content releases created unfavorable topline comparisons with prior year, but our base business continued to perform and adapt in an ever-changing marketplace.

 

“We are pleased with our progress to date and our positioning and preparation for the new product we’re shipping in the latter half of the year. Exciting new launches supporting Moana 2, releasing in theatres this November, and Sonic the Hedgehog™ 3, releasing in theaters this December will be the cornerstones of the broad retail support we have secured with our top customers globally. We are also in the middle of the exciting initial launch of our new line of products inspired by “The Simpsons,” the launch of our Authentic Brands Group business as well as several other new IP and category extensions.”

 







 

Second Quarter 2024 Highlights

The Dolls, Role-Play/Dress-Up division generated net sales of $63.6 million, up 6.6% from $59.7 million last year. The Action Play & Collectibles division generated net sales of $36.6 million, down 30.5% from $52.6 million last year.

 

For the first half, North America was down 8%, attributable to the impact of lower contribution from product lines launched in support of new entertainment content and lower Costume sales. International was down 31%, primarily due to orders slipping into the following quarter due to logistics-related issues but also negatively impacted by the content slate comparison with the prior year.

 

Balance Sheet Highlights

The Company’s cash and cash equivalents (including restricted cash) totaled $17.9 million as of June 30, 2024, compared to $32.4 million as of June 30, 2023, and $72.6 million as of December 31, 2023.

 

Inventory totaled $51.3 million as of June 30, 2024, compared to $65.1 million as of June 30, 2023, and $52.6 million as of December 31, 2023.

 

Use of Non-GAAP Financial Information and Reconciliation of GAAP to Non-GAAP measures:

In addition to the preliminary results reported in accordance with U.S. GAAP included in this release, the Company has provided certain non-GAAP financial information including Adjusted EBITDA and Adjusted Net Income (Loss) which are non-GAAP metrics that exclude various items that are detailed in the financial tables and accompanying footnotes reconciling GAAP to non-GAAP results contained in this release. These schedules provide certain information regarding Adjusted EBITDA and Adjusted Net Income (Loss), which may be considered non-GAAP financial measures under the rules of the Securities and Exchange Commission. The non-GAAP financial measures included in the press release are reconciled to the corresponding GAAP financial measures below, as required under the rules of the Securities and Exchange Commission regarding the use of non-GAAP financial measures.

 

We define Adjusted EBITDA as income (loss) from operations before depreciation, amortization and adjusted for certain non-recurring and non-cash charges, such as reorganization expenses and restricted stock compensation expense. Net income (loss) is similarly adjusted and tax-effected to arrive at Adjusted Net Income (Loss). Adjusted EBITDA and Adjusted Net Income (Loss) are not recognized financial measures under GAAP, but we believe that they are useful in measuring our operating performance.

 

Management believes that the presentation of these non-GAAP financial measures provides useful information to investors because the information may allow investors to better evaluate ongoing business performance and certain components of the Company’s results. In addition, the Company believes that the presentation of these financial measures enhances an investor’s ability to make period-to-period comparisons of the Company’s operating results.

 

Investors should not consider these measures in isolation or as a substitute for net income, operating income, or any other measure for determining the Company’s operating performance that is calculated in accordance with GAAP. This information should be considered in addition to the results presented in accordance with GAAP and should not be considered a substitute for the GAAP results. The Company has reconciled the non-GAAP financial information included in this release to the nearest GAAP measures. In addition, because these measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies.

 







 

Conference Call Live Webcast

JAKKS Pacific, Inc. invites analysts, investors and media to listen to the teleconference scheduled for 5:00 p.m. ET / 2:00 p.m. PT on July 31, 2024. A live webcast of the call will be available on the “Investor Relations” page of the Company’s website at www.jakks.com/investors. To access the call by phone, please go to this link (2Q24 Registration link) and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call several minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at (www.jakks.com/investors).

 

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include: AirTitans®, Disguise®, Fly Wheels®, JAKKS Wild Games®, Moose Mountain®, Maui®, Perfectly Cute®, ReDo® Skateboard Co., Sky Ball®, SportsZone™, Xtreme Power Dozer®, WeeeDo®, and Wild Manes™ as well as a wide range of entertainment-inspired products featuring premier licensed properties. Through our products and our charitable donations, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkspacific.toys), Twitter (@jakkstoys) and Facebook (@jakkspacific.toys).

 

Forward Looking Statements

This press release may contain “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS Pacific's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, or that any future transactions will result in future growth or success of JAKKS. The “forward-looking statements” contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

 

CONTACT:

JAKKS Pacific Investor Relations

(424) 268-9567

Lucas Natalini, investors@jakks.net

 



 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

 

   

June 30,

   

December 31,

 
   

2024

   

2023

   

2023

 
   

(In thousands)

 

Assets

         

Current assets:

                       

Cash and cash equivalents

  $ 17,700     $ 32,228     $ 72,350  

Restricted cash

    202       203       204  

Accounts receivable, net

    140,006       132,479       123,797  

Inventory

    51,327       65,059       52,647  

Prepaid expenses and other assets

    26,457       11,227       6,374  

Total current assets

    235,692       241,196       255,372  
                         

Property and equipment

    141,326       134,091       135,956  

Less accumulated depreciation and amortization

    124,580       116,813       121,357  

Property and equipment, net

    16,746       17,278       14,599  
                         

Operating lease right-of-use assets, net

    20,667       15,249       23,592  

Deferred income tax assets, net

    68,141       57,804       68,143  

Goodwill

    35,029       35,083       35,083  

Other long-term assets

    1,976       2,331       2,162  

Total assets

  $ 378,251     $ 368,941     $ 398,951  
                         
                         

Liabilities, Preferred Stock and Stockholders' Equity

                 
                         

Current liabilities:

                       

Accounts payable

  $ 55,368     $ 57,768     $ 42,177  

Accounts payable - Meisheng (related party)

    19,130       18,612       12,259  

Accrued expenses

    45,026       46,448       45,102  

Reserve for sales returns and allowances

    29,456       37,851       38,531  

Income taxes payable

    -       5,808       3,785  

Short term operating lease liabilities

    7,777       9,226       7,380  

Short term debt, net

    5,000       -       -  

Total current liabilities

    161,757       175,713       149,234  
                         

Long term operating lease liabilities

    14,859       6,220       16,666  

Accrued expenses - long term

    2,299       -       3,746  

Preferred stock derivative liability

    -       27,793       29,947  

Income taxes payable

    3,441       2,971       3,245  

Total liabilities

    182,356       212,697       202,838  
                         

Preferred stock accrued dividends

    -       5,230       5,992  
                         

Stockholders' equity:

                       

Common stock, $.001 par value

    11       10       10  

Additional paid-in capital

    294,543       277,178       278,642  

Accumulated deficit

    (82,851 )     (110,876 )     (73,612 )

Accumulated other comprehensive loss

    (16,308 )     (16,021 )     (15,627 )

Total JAKKS Pacific, Inc. stockholders' equity

    195,395       150,291       189,413  

Non-controlling interests

    500       723       708  

Total stockholders' equity

    195,895       151,014       190,121  

Total liabilities, preferred stock and stockholders' equity

  $ 378,251     $ 368,941     $ 398,951  

 







 

Supplemental Balance Sheet and Cash Flow Data (Unaudited)

 

   

June 30,

 

Key Balance Sheet Data:

 

2024

   

2023

 
                 

Accounts receivable days sales outstanding (DSO)

    86       72  

Inventory turnover (DSI)

    46       51  
                 
   

Six Months Ended
June 30,

 
                 

Condensed Cash Flow Data:

 

2024

   

2023

 
                 

Cash flows provided by (used in) operating activities

  $ (27,665 )   $ 20,805  

Cash flows used in investing activities

    (6,174 )     (4,893 )

Cash flows used in financing activities and other

    (20,813 )     (68,971 )

Increase in cash, cash equivalents and restricted cash

  $ (54,652 )   $ (53,059 )
                 

Capital expenditures

  $ (4,627 )   $ (4,918 )

 



 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

 

   

Three Months Ended June 30,

           

Six Months Ended June 30,

         
   

2024

   

2023

   

Δ (%)

   

2024

   

2023

   

Δ (%)

 
   

(In thousands, except per share data)

           

(In thousands, except per share data)

         
                                                 

Net sales

  $ 148,619     $ 166,933       (11 )%   $ 238,695     $ 274,417       (13 )%

Less: Cost of sales

                                               

Cost of goods

    76,599       86,156       (11 )     130,420       144,460       (10 )

Royalty expense

    22,394       27,279       (18 )     36,170       43,933       (18 )

Amortization of tools and molds

    2,041       2,300       (11 )     3,468       3,389       2  

Cost of sales

    101,034       115,735       (13 )     170,058       191,782       (11 )

Gross profit

    47,585       51,198       (7 )     68,637       82,635       (17 )

Direct selling expenses

    6,255       3,980       57       14,352       11,721       22  

General and administrative expenses

    33,594       30,677       10       67,786       58,671       16  

Depreciation and amortization

    93       93       -       180       195       (8 )

Selling, general and administrative expenses

    39,942       34,750       15       82,318       70,587       17  

Income (loss) from operations

    7,643       16,448       (54 )     (13,681 )     12,048       nm  

Other income (expense):

                                               

Loss from joint ventures

    -       (565 )     nm       -       (565 )     nm  

Other income (expense), net

    72       38       89       210       476       (56 )

Change in fair value of preferred stock derivative liability

    -       (6,022 )     nm       -       (5,875 )     nm  

Loss on debt extinguishment

    -       (1,023 )     nm       -       (1,023 )     nm  

Interest income

    88       86       2       464       203       129  

Interest expense

    (256 )     (1,302 )     (80 )     (399 )     (4,305 )     (91 )

Income (loss) before provision for (benefit from) income taxes

    7,547       7,660       (1 )     (13,406 )     959       nm  

Provision for (benefit from) income taxes

    2,281       1,478       54       (4,447 )     95       nm  

Net income (loss)

    5,266       6,182       (15 )     (8,959 )     864       nm  

Net income (loss) attributable to non-controlling interests

    -       (273 )     nm       280       (278 )     nm  

Net income (loss) attributable to JAKKS Pacific, Inc.

  $ 5,266     $ 6,455       (18 )%   $ (9,239 )   $ 1,142       nm %

Net income (loss) attributable to common stockholders

  $ 5,266     $ 6,082       (13 )%   $ (7,909 )   $ 402       nm %

Earnings (loss) per share - basic

  $ 0.49     $ 0.62             $ (0.75 )   $ 0.04          

Shares used in earnings (loss) per share - basic

    10,801       9,871               10,577       9,871          

Earnings (loss) per share - diluted

  $ 0.47     $ 0.58             $ (0.75 )   $ 0.04          

Shares used in earnings (loss) per share - diluted

    11,245       10,532               10,577       10,428          

 



 

 

   

Three Months Ended June 30,

           

Six Months Ended June 30,

         
   

2024

   

2023

   

Δ bps

   

2024

   

2023

   

Δ bps

 
                   

Fav/(Unfav)

                   

Fav/(Unfav)

 

Net sales

    100.0 %     100.0 %     -       100.0 %     100.0 %     -  

Less: Cost of sales

                                               

Cost of goods

    51.5       51.6       10       54.5       52.6       (190 )

Royalty expense

    15.1       16.3       120       15.2       16.0       80  

Amortization of tools and molds

    1.4       1.4       -       1.5       1.3       (20 )

Cost of sales

    68.0       69.3       130       71.2       69.9       (130 )

Gross profit

    32.0       30.7       130       28.8       30.1       (130 )

Direct selling expenses

    4.2       2.4       (180 )     6.0       4.3       (170 )

General and administrative expenses

    22.6       18.3       (430 )     28.4       21.3       (710 )

Depreciation and amortization

    0.1       0.1       -       0.1       0.1       -  

Selling, general and administrative expenses

    26.9       20.8       (610 )     34.5       25.7       (880 )

Income (loss) from operations

    5.1       9.9       (480 )     (5.7 )     4.4       (1,010 )

Other income (expense):

                                               

Loss from joint ventures

    -       (0.3 )             -       (0.2 )        

Other income (expense), net

    -       -               0.1       0.2          

Change in fair value of preferred stock derivative liability

    -       (3.6 )             -       (2.1 )        

Loss on debt extinguishment

    -       (0.6 )             -       (0.4 )        

Interest income

    0.1       -               0.2       0.1          

Interest expense

    (0.2 )     (0.8 )             (0.2 )     (1.6 )        

Income (loss) before provision for (benefit from) income taxes

    5.0       4.6               (5.6 )     0.4          

Provision for (benefit from) income taxes

    1.5       0.9               (1.8 )     -          

Net income (loss)

    3.5       3.7               (3.8 )     0.4          

Net income (loss) attributable to non-controlling interests

    -       (0.2 )             0.1       (0.1 )        

Net income (loss) attributable to JAKKS Pacific, Inc.

    3.5 %     3.9 %             (3.9 )%     0.5 %        

Net income (loss) attributable to common stockholders

    3.5 %     3.6 %             (3.3 )%     0.1 %        

 



 

JAKKS Pacific, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Information (Unaudited)

 

   

Three Months Ended June 30,

            Six Months Ended June 30,          
   

2024

   

2023

   

Δ ($)

   

2024

   

2023

   

Δ ($)

 
   

(In thousands)

            (In thousands)          

EBITDA and Adjusted EBITDA

                                               

Net income (loss)

  $ 5,266     $ 6,182     $ (916 )   $ (8,959 )   $ 864     $ (9,823 )

Interest expense

    256       1,302       (1,046 )     399       4,305       (3,906 )

Interest income

    (88 )     (86 )     (2 )     (464 )     (203 )     (261 )

Provision for income taxes

    2,281       1,478       803       (4,447 )     95       (4,542 )

Depreciation and amortization

    2,134       2,393       (259 )     3,648       3,584       64  

EBITDA

    9,849       11,269       (1,420 )     (9,823 )     8,645       (18,468 )

Adjustments:

                                               

Loss from joint ventures (JAKKS Pacific, Inc. - 51%)

    -       292       (292 )     -       287       (287 )

Loss from joint ventures (Meisheng - 49%)

    -       273       (273 )     -       278       (278 )

Other (income) expense, net

    (72 )     (38 )     (34 )     (210 )     (476 )     266  

Restricted stock compensation expense

    2,519       1,856       663       5,094       3,945       1,149  

Change in fair value of preferred stock derivative liability

    -       6,022       (6,022 )     -       5,875       (5,875 )

Loss on debt extinguishment

    -       1,023       (1,023 )     -       1,023       (1,023 )

Adjusted EBITDA

  $ 12,296     $ 20,697     $ (8,401 )   $ (4,939 )   $ 19,577     $ (24,516 )

Adjusted EBITDA/Net sales %

    8.3 %     12.4 %  

-410 bps

      (2.1 )%     7.1 %  

-920 bps

 

 



 

   

Trailing Twelve Months Ended
June 30,

             
   

2024

   

2023

   

Δ ($)

     
   

(In thousands)

             

TTM EBITDA and TTM Adjusted EBITDA

                           

TTM net income

  $ 28,290     $ 69,649     $ (41,359 )    

Interest expense

    2,545       10,949       (8,404 )    

Interest income

    (1,605 )     (321 )     (1,284 )    

Provision for (benefit from) income taxes

    2,291       (42,664 )     44,955      

Depreciation and amortization

    10,400       9,794       606      

TTM EBITDA

    41,921       47,407       (5,486 )    

Adjustments:

                           

Loss from joint ventures (JAKKS Pacific, Inc. - 51%)

    (11 )     287       (298 )    

Loss from joint ventures (Meisheng - 49%)

    11       278       (267 )    

Other (income) expense, net

    (297 )     (1,004 )     707      

Restricted stock compensation expense

    9,176       7,002       2,174      

Change in fair value of preferred stock derivative liability

    2,154       11,895       (9,741 )    

Molds and tooling capitalization

    (1,751 )     -       (1,751 )    

Loss on debt extinguishment

    -       1,023       (1,023 )    

TTM Adjusted EBITDA

  $ 51,203     $ 66,888     $ (15,685 ) (23 )%

TTM Adjusted EBITDA/TTM Net sales %

    7.6 %     9.2 %  

-160 bps

     

 



 

 

   

Three Months Ended June 30,

           

Six Months Ended June 30,

         
   

2024

   

2023

   

Δ ($)

   

2024

   

2023

   

Δ ($)

 
   

(In thousands, except per share data)

           

(In thousands, except per share data)

         

Adjusted net loss attributable to common stockholders

                                               

Net income (loss) attributable to common stockholders

  $ 5,266     $ 6,082     $ (816 )   $ (7,909 )   $ 402     $ (8,311 )

Restricted stock compensation expense

    2,519       1,856       663       5,094       3,945       1,149  

Change in fair value of preferred stock derivative liability

    -       6,022       (6,022 )     -       5,875       (5,875 )

Loss on debt extinguishment

    -       1,023       (1,023 )     -       1,023       (1,023 )

Loss from joint ventures (JAKKS Pacific, Inc. - 51%)

    -       292       (292 )     -       287       (287 )

2021 BSP Term Loan prepayment penalty

    -       -       -       -       150       (150 )

Tax impact of additional charges

    (530 )     (1,979 )     1,449       (1,187 )     (2,347 )     1,160  

Adjusted net income (loss) attributable to common stockholders

  $ 7,255     $ 13,296     $ (6,041 )   $ (4,002 )   $ 9,335     $ (13,337 )

Adjusted earnings (loss) per share - basic & diluted

  $ 0.67     $ 1.35     $ (0.68 )   $ (0.38 )   $ 0.95     $ (1.33 )

Shares used in adjusted earnings (loss) per share - basic

    10,801       9,871       930       10,577       9,871       706  

Adjusted earnings (loss) per share - diluted

  $ 0.65     $ 1.26     $ (0.61 )   $ (0.38 )   $ 0.90     $ (1.28 )

Shares used in adjusted earnings (loss) per share - diluted

    11,245       10,532       713       10,577       10,428       149  

 



 

JAKKS Pacific, Inc. and Subsidiaries

Net Sales by Division and Geographic Region

 

(In thousands)

QTD Q2

   

(In thousands)

YTD Q2

 

Divisions

2024

 

2023

 

2022

 

% Change
2024 v 2023

 

% Change
2023 v 2022

   

Divisions

2024

 

2023

 

2022

 

% Change
2024 v 2023

 

% Change
2023 v 2022

 

 Toys/Consumer Products

$ 104,570   $ 117,934   $ 148,860     -11.3 %   -20.8 %  

 Toys/Consumer Products

$ 187,480   $ 215,827   $ 259,983     -13.1 %   -17.0 %

  Dolls, Role-Play/Dress Up

  63,608     59,669     102,186     6.6 %   -41.6 %  

  Dolls, Role-Play/Dress Up

  104,182     107,512     164,192     -3.1 %   -34.5 %

  Action Play & Collectibles

  36,555     52,571     37,170     -30.5 %   41.4 %  

  Action Play & Collectibles

  69,563     90,417     68,868     -23.1 %   31.3 %

  Outdoor/Seasonal Toys

  4,407     5,694     9,504     -22.6 %   -40.1 %  

  Outdoor/Seasonal Toys

  13,735     17,898     26,923     -23.3 %   -33.5 %

 Costumes

$ 44,049   $ 48,999   $ 71,562     -10.1 %   -31.5 %  

 Costumes

$ 51,215   $ 58,590   $ 81,320     -12.6 %   -28.0 %

Total

$ 148,619   $ 166,933   $ 220,422     -11.0 %   -24.3 %  

Total

$ 238,695   $ 274,417   $ 341,303     -13.0 %   -19.6 %
                                                                 
                                                                 
                                                                 

(In thousands)

QTD Q2

   

(In thousands)

YTD Q2

 

Regions

2024

 

2023

 

2022

 

% Change
2024 v 2023

 

% Change
2023 v 2022

   

Regions

2024

 

2023

 

2022

 

% Change
2024 v 2023

 

% Change
2023 v 2022

 

United States

$ 125,837   $ 136,187   $ 192,484     -7.6 %   -29.2 %  

United States

$ 196,267   $ 216,630   $ 289,534     -9.4 %   -25.2 %

Europe

  10,264     16,638     14,447     -38.3 %   15.2 %  

Europe

  15,999     26,800     27,836     -40.3 %   -3.7 %

Latin America

  3,239     3,067     3,823     5.6 %   -19.8 %  

Latin America

  11,235     12,271     6,208     -8.4 %   97.7 %

Canada

  6,288     6,799     5,537     -7.5 %   22.8 %  

Canada

  9,658     10,853     8,916     -11.0 %   21.7 %

Asia

  1,268     1,831     2,363     -30.7 %   -22.5 %  

Asia

  2,233     3,211     4,439     -30.5 %   -27.7 %

Australia & New Zealand

  1,607     1,756     1,582     -8.5 %   11.0 %  

Australia & New Zealand

  2,953     3,364     3,073     -12.2 %   9.5 %

Middle East & Africa

  116     655     186     -82.3 %   252.2 %  

Middle East & Africa

  350     1,288     1,297     -72.8 %   -0.7 %

Total

$ 148,619   $ 166,933   $ 220,422     -11.0 %   -24.3 %  

Total

$ 238,695   $ 274,417   $ 341,303     -13.0 %   -19.6 %
                                                                 
                                                                 

(In thousands)

QTD Q2

   

(In thousands)

YTD Q2

 

Regions

2024

 

2023

 

2022

 

% Change
2024 v 2023

 

% Change
2023 v 2022

   

Regions

2024

 

2023

 

2022

 

% Change
2024 v 2023

 

% Change
2023 v 2022

 

North America

$ 132,125   $ 142,986   $ 198,021     -7.6 %   -27.8 %  

North America

$ 205,925   $ 227,483   $ 298,450     -9.5 %   -23.8 %

International

  16,494     23,947     22,401     -31.1 %   6.9 %  

International

  32,770     46,934     42,853     -30.2 %   9.5 %

Total

$ 148,619   $ 166,933   $ 220,422     -11.0 %   -24.3 %  

Total

$ 238,695   $ 274,417   $ 341,303     -13.0 %   -19.6 %