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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): February 18, 2026
|
JAKKS PACIFIC, INC. |
| (Exact name of registrant as specified in its charter) |
| Delaware | 001-35448 | 95-4527222 | ||
| (State or other jurisdiction | (Commission File Number) | (IRS Employer | ||
| of incorporation) | 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 or to be 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 February 19, 2026, we issued a press release announcing our fourth quarter and full-year results for 2025. Following the issuance of the press release, on February 19, 2026 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 8.01. Other Events.
On February 18, 2026, our Board of Directors declared a quarterly cash dividend of $0.25 per common share. The dividend will be payable on March 30, 2026 to shareholders of record at the close of business on February 27, 2026. A copy of such release is annexed hereto as Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit | Description | |
| 10.1 | February 19, 2026 Press Release | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
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: February 19, 2026 | By: | /s/ JOHN L. KIMBLE |
| John L. Kimble, CFO | ||
Exhibit 10.1
JAKKS PACIFIC REPORTS FOURTH QUARTER AND FULL-YEAR 2025 FINANCIAL RESULTS
Q4 in line with expectations with bottom-line growth; Board approves cash dividend.
Santa Monica, California, February 19, 2026 – JAKKS Pacific, Inc. (Nasdaq: JAKK) today reported financial results for the fourth quarter and fiscal year ended December 31, 2025.
Fourth Quarter 2025
| ● | Net sales were $127.1 million, a year-over-year decrease of 3% |
| ○ | Toys/Consumer Products net sales were $118.0 million, essentially flat to $118.2 million last year |
| ○ | Costumes net sales were $9.1 million, a year-over-year decrease of 28% |
| ● | Gross margin of 31.0%, up 380 basis points vs. Q4 2024 |
| ● | Gross profit of $39.4 million, up 11% compared to $35.6 million in Q4 2024 |
| ● | Operating loss of $8.6 million in Q4 2025, an improvement of $6.1 million vs. a loss of $14.7 million in Q4 2024 | |
| ● | Net loss attributable to common stockholders of $5.3 million or $0.47 per diluted share, compared to net loss attributable to common stockholders of $9.1 million or $0.83 per diluted share in Q4 2024 | |
| ● | Adjusted net loss attributable to common stockholders (a non-GAAP measure) of $2.0 million or $0.18 per diluted share, compared to adjusted net loss attributable to common stockholders of $7.4 million or $0.67 per diluted share in Q4 2024 |
| ● | Adjusted EBITDA (a non-GAAP measure) of $(3.8) million vs. $(10.2) million in Q4 2024, an improvement of $6.3 million |
Full-Year 2025
| ● | Net sales were $570.7 million compared to $691.0 million last year, a 17% decrease |
| ○ | Toys/Consumer Products net sales were $461.9 million, a year-over-year decrease of 19% |
| ○ | Costumes net sales were $108.7 million, a year-over-year decrease of 10% |
| ● | Gross margin of 32.4% compared to 30.8% last year |
| ● | Gross profit of $185.1 million, down 13% compared to $213.0 million last year |
| ● | Operating income of $14.2 million compared to $39.7 million last year: a 64% decrease |
| ● | Net income attributable to common stockholders of $9.9 million, down from a net income attributable to common stockholders of $35.3 million in 2024 |
| ● | Adjusted net income attributable to common stockholders of $18.6 million ($1.62 per diluted share), down from adjusted net income attributable to common stockholders of $42.6 million ($3.79 per diluted share) in 2024 |
| ● | Adjusted EBITDA of $35.4 million, down from $59.3 million in 2024 |
| ● | Cash returned to shareholders of $11.2 million, $1 per common share. |
| ● | End of year cash and cash equivalents of $54.1 million, down from $70.1 million in 2024 |
Management Commentary
“We are pleased with everything we accomplished as 2025 draws to a close. I think when we look back, we’ll see it as a very important year in the history of our company,” said Stephen Berman, Chairman and CEO of JAKKS Pacific. “On the surface, the downward pressure on the full-year financials from tariff policy might be all that some people can see now. What I also reflect upon, however, is the number of areas where we nonetheless made substantial progress towards longer-term goals despite that disruption. We elevated and broadened our relationships with existing factories, licensors and customers, with a global worldview. We also made substantial progress expanding our relationship portfolio in anticipation of a new strategic initiative set to launch in 2027. We were transparent with our shareholders about our perspective on market dynamics and the resulting challenges. We followed through with what we said we would do, refusing to chase topline sales at the expense of bottom-line margin. And we completed our first full year as a cash dividend payer, returning $1 per share in dividends back to our shareholders as we maintained our debt-free balance sheet. We feel we are leaving 2025 stronger than we left 2024 and are excited about 2026’s potential.
Our fourth quarter results were roughly in line with our expectations. The significant customer order disruptions of Q2 and Q3 driven by rapidly changing tariff policy abated in Q4 and allowed for a slightly more predictable environment. Our Toy/Consumer Products division net sales were roughly flat in Q4, at $118.0 million, down 0.2% from prior year and down 0.5% from 2023. Costumes were down, although in one of its smaller quarters of the year, but enough to bring total company sales down 2.8% from prior year to $127.1 million, or roughly flat to our 2023 Q4 sales of $127.4 million. Gross margins improved in the quarter vs. last year and finished the full year at 32.4%, our highest full-year number in fifteen years. Adjusted EBITDA in the quarter improved vs prior year, lifting full-year Adjusted EBITDA to $35.4 million.”
Other Financial Highlights
Sales in the United States were down 8% in the quarter and 24% on a full-year basis compared to the previous year. Sales outside of the United States were up 10% in the quarter, and up 6% for the full year outside the United States, led by Europe.
Inventory was $59.8 million as of December 31, 2025, compared to $52.8 million as of December 31, 2024, driven primarily by our expanded warehouse network in the European Union.
The Board of Directors has declared a quarterly dividend of $0.25 per share on the company’s common stock, payable March 30, 2026, to shareholders of record February 27, 2026
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) that exclude various items that are detailed in the financial tables and accompanying footnotes reconciling GAAP to non-GAAP results contained in this release. 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, enhance an overall understanding of the Company’s past financial performance, and provides useful information to the investor by comparing our performance across reporting periods on a consistent basis. 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. 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.
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. See “Use of Non-GAAP Financial Information” for additional disclosures with respect to the use of non-GAAP financial information.
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 February 19, 2026. 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 (4Q25 Registration link), and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen 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, costumes and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include Disguise®, Fly Wheels®, Charming®, KidTopia®, Moose Mountain®, Maui®, ReDo® Skateboard Co., Sky Ball®, and Xtreme Power Dozer® as well as a wide range of entertainment-inspired products featuring premier licensed properties. Through their products and 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), X (@jakkstoys), YouTube (@JAKKSPacific), Facebook (@jakkspacific.toys) and LinkedIn (JAKKS Pacific).
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, tariff policy and pricing, or 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)
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| (In thousands) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 52,197 | $ | 69,936 | ||||
| Restricted cash | 1,869 | 201 | ||||||
| Accounts receivable, net | 138,341 | 131,629 | ||||||
| Inventory | 59,805 | 52,780 | ||||||
| Prepaid expenses and other assets | 16,873 | 14,141 | ||||||
| Total current assets | 269,085 | 268,687 | ||||||
| Property and equipment | 152,224 | 142,623 | ||||||
| Less accumulated depreciation and amortization | 133,216 | 126,981 | ||||||
| Property and equipment, net | 19,008 | 15,642 | ||||||
| Operating lease right-of-use assets, net | 46,776 | 53,254 | ||||||
| Deferred income tax assets, net | 69,569 | 70,394 | ||||||
| Goodwill | 35,077 | 35,111 | ||||||
| Other long-term assets | 2,682 | 1,781 | ||||||
| Total assets | $ | 442,197 | $ | 444,869 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 55,558 | $ | 42,560 | ||||
| Accounts payable - Meisheng (related party) | - | 13,461 | ||||||
| Accrued expenses | 43,076 | 48,456 | ||||||
| Reserve for sales returns and allowances | 33,569 | 35,817 | ||||||
| Income taxes payable | 2,119 | 1,035 | ||||||
| Short term operating lease liabilities | 13,784 | 8,091 | ||||||
| Total current liabilities | 148,106 | 149,420 | ||||||
| Long term operating lease liabilities | 39,578 | 48,433 | ||||||
| Accrued expenses - long term | 4,463 | 2,563 | ||||||
| Income taxes payable | 945 | 3,620 | ||||||
| Total liabilities | 193,092 | 204,036 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock, $.001 par value | 11 | 11 | ||||||
| Additional paid-in capital | 302,408 | 297,198 | ||||||
| Accumulated deficit | (41,021 | ) | (39,692 | ) | ||||
| Accumulated other comprehensive loss | (12,293 | ) | (17,184 | ) | ||||
| Total JAKKS Pacific, Inc. stockholders’ equity | 249,105 | 240,333 | ||||||
| Non-controlling interests | - | 500 | ||||||
| Total stockholders’ equity | 249,105 | 240,833 | ||||||
| Total liabilities and stockholders’ equity | $ | 442,197 | $ | 444,869 | ||||
Supplemental Balance Sheet and Cash Flow Data (Unaudited)
| December 31, | ||||||||
| Key Balance Sheet Data: | 2025 | 2024 | ||||||
| Accounts receivable days sales outstanding (DSO) | 100 | 93 | ||||||
| Inventory turnover (DSI) | 63 | 51 | ||||||
| Twelve Months Ended December 31, |
||||||||
| Condensed Cash Flow Data: | 2025 | 2024 | ||||||
| Cash flows from operating activities | $ | 8,492 | $ | 38,947 | ||||
| Cash flows used in investing activities | (12,344 | ) | (12,889 | ) | ||||
| Cash flows used in financing activities and other | (12,219 | ) | (28,475 | ) | ||||
| Decrease in cash, cash equivalents and restricted cash | $ | (16,071 | ) | $ | (2,417 | ) | ||
| Capital expenditures | $ | (9,563 | ) | $ | (11,246 | ) | ||
JAKKS Pacific, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations (Unaudited)
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||||||||||||
| 2025 | 2024 | Δ (%) | 2025 | 2024 | Δ (%) | |||||||||||||||||||
| (In thousands, except per share data) |
(In thousands, except per share data) |
|||||||||||||||||||||||
| Net sales | $ | 127,114 | $ | 130,741 | (3 | )% | $ | 570,671 | $ | 691,042 | (17 | )% | ||||||||||||
| Less: Cost of sales | ||||||||||||||||||||||||
| Cost of goods | 65,265 | 72,373 | (10 | ) | 283,521 | 361,563 | (22 | ) | ||||||||||||||||
| Royalty expense | 20,605 | 20,623 | (0 | ) | 92,381 | 106,804 | (14 | ) | ||||||||||||||||
| Amortization of tools and molds | 1,843 | 2,192 | (16 | ) | 9,689 | 9,654 | 0 | |||||||||||||||||
| Cost of sales | 87,713 | 95,188 | (8 | ) | 385,591 | 478,021 | (19 | ) | ||||||||||||||||
| Gross profit | 39,401 | 35,553 | 11 | 185,080 | 213,021 | (13 | ) | |||||||||||||||||
| Direct selling expenses | 15,519 | 18,201 | (15 | ) | 36,858 | 40,105 | (8 | ) | ||||||||||||||||
| General and administrative expenses | 32,325 | 31,953 | 1 | 133,460 | 132,840 | 0 | ||||||||||||||||||
| Depreciation and amortization | 162 | 117 | 38 | 544 | 392 | 39 | ||||||||||||||||||
| Selling, general and administrative expenses | 48,006 | 50,271 | (5 | ) | 170,862 | 173,337 | (1 | ) | ||||||||||||||||
| Income (loss) from operations | (8,605 | ) | (14,718 | ) | (42 | ) | 14,218 | 39,684 | (64 | ) | ||||||||||||||
| Other income (expense): | ||||||||||||||||||||||||
| Loss from joint ventures | - | - | - | - | - | - | ||||||||||||||||||
| Other income (expense), net | 32 | 8 | 300 | 450 | 302 | 49 | ||||||||||||||||||
| Change in fair value of preferred stock derivative liability | - | - | - | - | - | - | ||||||||||||||||||
| Loss on debt extinguishment | (9 | ) | - | nm | (427 | ) | - | nm | ||||||||||||||||
| Interest income | 163 | 308 | (47 | ) | 995 | 841 | 18 | |||||||||||||||||
| Interest expense | (69 | ) | (157 | ) | (56 | ) | (471 | ) | (1,095 | ) | (57 | ) | ||||||||||||
| Income (loss) before provision for (benefit from) income taxes | (8,488 | ) | (14,559 | ) | (42 | ) | 14,765 | 39,732 | (63 | ) | ||||||||||||||
| Provision for (benefit from) income taxes | (3,168 | ) | (5,446 | ) | (42 | ) | 4,894 | 5,532 | (12 | ) | ||||||||||||||
| Net income (loss) | (5,320 | ) | (9,113 | ) | (42 | ) | 9,871 | 34,200 | (71 | ) | ||||||||||||||
| Net income (loss) attributable to non-controlling interests | - | - | - | - | 280 | nm | ||||||||||||||||||
| Net income (loss) attributable to JAKKS Pacific, Inc. | $ | (5,320 | ) | $ | (9,113 | ) | (42 | )% | $ | 9,871 | $ | 33,920 | (71 | )% | ||||||||||
| Net income (loss) attributable to common stockholders | $ | (5,320 | ) | $ | (9,113 | ) | (42 | )% | $ | 9,871 | $ | 35,250 | (72 | )% | ||||||||||
| Earnings (loss) per share - basic | $ | (0.47 | ) | $ | (0.83 | ) | $ | 0.88 | $ | 3.27 | ||||||||||||||
| Shares used in earnings (loss) per share - basic | 11,282 | 11,008 | 11,190 | 10,781 | ||||||||||||||||||||
| Earnings (loss) per share - diluted | $ | (0.47 | ) | $ | (0.83 | ) | $ | 0.86 | $ | 3.14 | ||||||||||||||
| Shares used in earnings (loss) per share - diluted | 11,282 | 11,008 | 11,491 | 11,226 | ||||||||||||||||||||
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||||||||||||
| 2025 | 2024 | Δ bps | 2025 | 2024 | Δ bps | |||||||||||||||||||
| Fav/(Unfav) | Fav/(Unfav) | |||||||||||||||||||||||
| Net sales | 100.0 | % | 100.0 | % | - | 100.0 | % | 100.0 | % | - | ||||||||||||||
| Less: Cost of sales | ||||||||||||||||||||||||
| Cost of goods | 51.4 | 55.3 | 390 | 49.7 | 52.3 | 260 | ||||||||||||||||||
| Royalty expense | 16.2 | 15.8 | (40 | ) | 16.2 | 15.5 | (70 | ) | ||||||||||||||||
| Amortization of tools and molds | 1.4 | 1.7 | 30.0 | 1.7 | 1.4 | (30 | ) | |||||||||||||||||
| Cost of sales | 69.0 | 72.8 | 380 | 67.6 | 69.2 | 160 | ||||||||||||||||||
| Gross profit | 31.0 | 27.2 | 380 | 32.4 | 30.8 | 160 | ||||||||||||||||||
| Direct selling expenses | 12.2 | 13.9 | 170 | 6.4 | 5.8 | (60 | ) | |||||||||||||||||
| General and administrative expenses | 25.5 | 24.5 | (100 | ) | 23.4 | 19.2 | (420 | ) | ||||||||||||||||
| Depreciation and amortization | 0.1 | 0.1 | - | 0.1 | 0.1 | - | ||||||||||||||||||
| Selling, general and administrative expenses | 37.8 | 38.5 | 70 | 29.9 | 25.1 | (480 | ) | |||||||||||||||||
| Income (loss) from operations | (6.8 | ) | (11.3 | ) | 450 | 2.5 | 5.7 | (320 | ) | |||||||||||||||
| Other income (expense): | ||||||||||||||||||||||||
| Loss from joint ventures | - | - | - | - | ||||||||||||||||||||
| Other income (expense), net | - | - | 0.1 | 0.1 | ||||||||||||||||||||
| Change in fair value of preferred stock derivative liability | - | - | - | - | ||||||||||||||||||||
| Loss on debt extinguishment | - | - | (0.1 | ) | - | |||||||||||||||||||
| Interest income | 0.1 | 0.2 | 0.2 | 0.1 | ||||||||||||||||||||
| Interest expense | - | (0.1 | ) | (0.1 | ) | (0.2 | ) | |||||||||||||||||
| Income (loss) before provision for (benefit from) income taxes | (6.7 | ) | (11.2 | ) | 2.6 | 5.7 | ||||||||||||||||||
| Provision for (benefit from) income taxes | (2.5 | ) | (4.2 | ) | 0.9 | 0.8 | ||||||||||||||||||
| Net income (loss) | (4.2 | ) | (7.0 | ) | 1.7 | 4.9 | ||||||||||||||||||
| Net income (loss) attributable to non-controlling interests | - | - | - | - | ||||||||||||||||||||
| Net income (loss) attributable to JAKKS Pacific, Inc. | (4.2 | )% | (7.0 | )% | 1.7 | % | 4.9 | % | ||||||||||||||||
| Net income (loss) attributable to common stockholders | (4.2 | )% | (7.0 | )% | 1.7 | % | 5.1 | % | ||||||||||||||||
JAKKS Pacific, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Information (Unaudited)
| Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||
| 2025 | 2024 | Δ ($) | 2025 | 2024 | Δ ($) | |||||||||||||||||||
| (In thousands) | (In thousands) | |||||||||||||||||||||||
| EBITDA and Adjusted EBITDA | ||||||||||||||||||||||||
| Net income (loss) | $ | (5,320 | ) | $ | (9,113 | ) | $ | 3,793 | $ | 9,871 | $ | 34,200 | $ | (24,329 | ) | |||||||||
| Interest expense | 69 | 157 | (88 | ) | 471 | 1,095 | (624 | ) | ||||||||||||||||
| Interest income | (163 | ) | (308 | ) | 145 | (995 | ) | (841 | ) | (154 | ) | |||||||||||||
| Provision for (benefit from) income taxes | (3,168 | ) | (5,446 | ) | 2,278 | 4,894 | 5,532 | (638 | ) | |||||||||||||||
| Depreciation and amortization | 2,005 | 2,309 | (304 | ) | 10,233 | 10,046 | 187 | |||||||||||||||||
| EBITDA | (6,577 | ) | (12,401 | ) | 5,824 | 24,474 | 50,032 | (25,558 | ) | |||||||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Other (income) expense, net | (32 | ) | (8 | ) | (24 | ) | (450 | ) | (302 | ) | (148 | ) | ||||||||||||
| Restricted stock compensation expense | 2,781 | 2,255 | 526 | 10,913 | 9,535 | 1,378 | ||||||||||||||||||
| Loss on debt extinguishment | 9 | - | 9 | 427 | - | 427 | ||||||||||||||||||
| Adjusted EBITDA | $ | (3,819 | ) | $ | (10,154 | ) | $ | 6,335 | $ | 35,364 | $ | 59,265 | $ | (23,901 | ) | |||||||||
| Adjusted EBITDA/Net sales % | (3.0 | )% | (7.8 | )% | 480 bps | 6.2 | % | 8.6 | % | -240 bps | ||||||||||||||
| Trailing Twelve Months Ended December 31, |
||||||||||||
| 2025 | 2024 | Δ ($) | ||||||||||
| (In thousands) | ||||||||||||
| TTM EBITDA and TTM Adjusted EBITDA | ||||||||||||
| TTM net income | $ | 9,871 | $ | 34,200 | $ | (24,329 | ) | |||||
| Interest expense | 471 | 1,095 | (624 | ) | ||||||||
| Interest income | (995 | ) | (841 | ) | (154 | ) | ||||||
| Provision for income taxes | 4,894 | 5,532 | (638 | ) | ||||||||
| Depreciation and amortization | 10,233 | 10,046 | 187 | |||||||||
| TTM EBITDA | 24,474 | 50,032 | (25,558 | ) | ||||||||
| Adjustments: | ||||||||||||
| Other (income) expense, net | (450 | ) | (302 | ) | (148 | ) | ||||||
| Restricted stock compensation expense | 10,913 | 9,535 | 1,378 | |||||||||
| Change in fair value of preferred stock derivative liability | - | - | - | |||||||||
| Loss on debt extinguishment | 427 | - | 427 | |||||||||
| TTM Adjusted EBITDA | $ | 35,364 | $ | 59,265 | $ | (23,901 | ) | |||||
| TTM Adjusted EBITDA/TTM Net sales % | 6.2 | % | 8.6 | % | -240 bps | |||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||
| 2025 | 2024 | Δ ($) | 2025 | 2024 | Δ ($) | |||||||||||||||||||
| (In thousands, except per share data) | (In thousands, except per share data) | |||||||||||||||||||||||
| Adjusted net income (loss) attributable to common stockholders | ||||||||||||||||||||||||
| Net income (loss) attributable to common stockholders | $ | (5,320 | ) | $ | (9,113 | ) | $ | 3,793 | $ | 9,871 | $ | 35,250 | $ | (25,379 | ) | |||||||||
| Restricted stock compensation expense | 2,781 | 2,255 | 526 | 10,913 | 9,535 | 1,378 | ||||||||||||||||||
| Loss on debt extinguishment | 9 | - | 9 | 427 | - | 427 | ||||||||||||||||||
| Tax impact of additional charges | 521 | (544 | ) | 1,065 | (2,632 | ) | (2,225 | ) | (407 | ) | ||||||||||||||
| Adjusted net income (loss) attributable to common stockholders | $ | (2,009 | ) | $ | (7,402 | ) | $ | 5,393 | $ | 18,579 | $ | 42,560 | $ | (23,981 | ) | |||||||||
| Adjusted earnings (loss) per share - basic | $ | (0.18 | ) | $ | (0.67 | ) | $ | 0.49 | $ | 1.66 | $ | 3.95 | $ | (2.29 | ) | |||||||||
| Shares used in adjusted earnings (loss) per share - basic | 11,282 | 11,008 | 274 | 11,190 | 10,781 | 409 | ||||||||||||||||||
| Adjusted earnings (loss) per share - diluted | $ | (0.18 | ) | $ | (0.67 | ) | $ | 0.49 | $ | 1.62 | $ | 3.79 | $ | (2.17 | ) | |||||||||
| Shares used in adjusted earnings (loss) per share - diluted | 11,282 | 11,008 | 274 | 11,491 | 11,226 | 265 | ||||||||||||||||||
JAKKS Pacific, Inc. and Subsidiaries
Net Sales by Division and Geographic Region
| (In thousands) | QTD Q4 | (In thousands) | YTD Q4 | |||||||||||||||||||||||||||||||||||||||
| Divisions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
Divisions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
|||||||||||||||||||||||||||||||
| Toys/Consumer Products | $ | 118,040 | $ | 118,233 | $ | 118,855 | -0.2 | % | -0.5 | % | Toys/Consumer Products | $ | 461,937 | $ | 570,018 | $ | 580,687 | -19.0 | % | -1.8 | % | |||||||||||||||||||||
| Dolls, Role-Play/Dress-Up | 48,806 | 62,603 | 73,272 | -22.0 | % | -14.6 | % | Dolls, Role-Play/Dress-Up | 242,763 | 313,679 | 319,962 | -22.6 | % | -2.0 | % | |||||||||||||||||||||||||||
| Action Play & Collectibles | 56,229 | 47,209 | 35,312 | 19.1 | % | 33.7 | % | Action Play & Collectibles | 181,962 | 215,521 | 219,446 | -15.6 | % | -1.8 | % | |||||||||||||||||||||||||||
| Outdoor/Seasonal Toys | 13,005 | 8,421 | 10,272 | 54.4 | % | -18.0 | % | Outdoor/Seasonal Toys | 37,212 | 40,818 | 41,279 | -8.8 | % | -1.1 | % | |||||||||||||||||||||||||||
| Costumes | $ | 9,074 | $ | 12,508 | $ | 8,541 | -27.5 | % | 46.4 | % | Costumes | $ | 108,734 | $ | 121,024 | $ | 130,870 | -10.2 | % | -7.5 | % | |||||||||||||||||||||
| Total | $ | 127,114 | $ | 130,741 | $ | 127,396 | -2.8 | % | 2.6 | % | Total | $ | 570,671 | $ | 691,042 | $ | 711,557 | -17.4 | % | -2.9 | % | |||||||||||||||||||||
| (In thousands) | QTD Q4 | (In thousands) | YTD Q4 | |||||||||||||||||||||||||||||||||||||||
| Regions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
Regions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
|||||||||||||||||||||||||||||||
| United States | $ | 86,155 | $ | 93,468 | $ | 96,304 | -7.8 | % | -2.9 | % | United States | $ | 416,605 | $ | 545,013 | $ | 557,865 | -23.6 | % | -2.3 | % | |||||||||||||||||||||
| Europe | 25,504 | 25,359 | 17,988 | 0.6 | % | 41.0 | % | Europe | 81,379 | 71,392 | 76,464 | 14.0 | % | -6.6 | % | |||||||||||||||||||||||||||
| Latin America | 8,849 | 4,292 | 4,434 | 106.2 | % | -3.2 | % | Latin America | 36,421 | 38,159 | 32,024 | -4.6 | % | 19.2 | % | |||||||||||||||||||||||||||
| Canada | 3,084 | 4,257 | 4,686 | -27.6 | % | -9.2 | % | Canada | 24,426 | 20,983 | 26,992 | 16.4 | % | -22.3 | % | |||||||||||||||||||||||||||
| Asia | 1,388 | 1,523 | 2,140 | -8.9 | % | -28.8 | % | Asia | 4,982 | 6,101 | 8,543 | -18.3 | % | -28.6 | % | |||||||||||||||||||||||||||
| Australia & New Zealand | 1,228 | 1,116 | 1,486 | 10.0 | % | -24.9 | % | Australia & New Zealand | 4,953 | 7,409 | 7,542 | -33.1 | % | -1.8 | % | |||||||||||||||||||||||||||
| Middle East & Africa | 906 | 726 | 358 | 24.8 | % | 102.8 | % | Middle East & Africa | 1,905 | 1,985 | 2,127 | -4.0 | % | -6.7 | % | |||||||||||||||||||||||||||
| Total | $ | 127,114 | $ | 130,741 | $ | 127,396 | -2.8 | % | 2.6 | % | Total | $ | 570,671 | $ | 691,042 | $ | 711,557 | -17.4 | % | -2.9 | % | |||||||||||||||||||||
| (In thousands) | QTD Q4 | (In thousands) | YTD Q4 | |||||||||||||||||||||||||||||||||||||||
| Regions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
Regions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
|||||||||||||||||||||||||||||||
| North America | $ | 89,239 | $ | 97,725 | $ | 100,990 | -8.7 | % | -3.2 | % | North America | $ | 441,031 | $ | 565,996 | $ | 584,857 | -22.1 | % | -3.2 | % | |||||||||||||||||||||
| International | 37,875 | 33,016 | 26,406 | 14.7 | % | 25.0 | % | International | 129,640 | 125,046 | 126,700 | 3.7 | % | -1.3 | % | |||||||||||||||||||||||||||
| Total | $ | 127,114 | $ | 130,741 | $ | 127,396 | -2.8 | % | 2.6 | % | Total | $ | 570,671 | $ | 691,042 | $ | 711,557 | -17.4 | % | -2.9 | % | |||||||||||||||||||||
| (In thousands) | QTD Q4 | (In thousands) | YTD Q4 | |||||||||||||||||||||||||||||||||||||||
| Regions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
Regions | 2025 | 2024 | 2023 | % Change 2025 v 2024 |
% Change 2024 v 2023 |
|||||||||||||||||||||||||||||||
| United States | $ | 86,155 | $ | 93,468 | $ | 96,304 | -7.8 | % | -2.9 | % | United States | $ | 416,605 | $ | 545,013 | $ | 557,865 | -23.6 | % | -2.3 | % | |||||||||||||||||||||
| Rest of World | 40,959 | 37,273 | 31,092 | 9.9 | % | 19.9 | % | Rest of World | 154,066 | 146,029 | 153,692 | 5.5 | % | -5.0 | % | |||||||||||||||||||||||||||
| Total | $ | 127,114 | $ | 130,741 | $ | 127,396 | -2.8 | % | 2.6 | % | Total | $ | 570,671 | $ | 691,042 | $ | 711,557 | -17.4 | % | -2.9 | % | |||||||||||||||||||||