jakkspacif20240228_8k.htm


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 29, 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 (see General Instruction A.2. below):

 

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 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 29, 2024, we issued a press release announcing our fourth quarter and full year results for 2023. Following the issuance of the press release, on February 29, 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

February 29, 2024 Fourth Quarter and Full Year 2023 Earnings 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 29, 2024         

By:

/s/ JOHN KIMBLE

 
   

John Kimble, CFO

 
       

 

 
false 0001009829 0001009829 2024-02-29 2024-02-29
ex_632477.htm

Exhibit 99.1

 

https://cdn.kscope.io/55a1c042032cb7bb61d0fce7697a3d3d-jp-logo_3.jpg

 

JAKKS PACIFIC REPORTS FOURTH QUARTER AND FULL-YEAR 2023 FINANCIAL RESULTS

Full-year Gross Profit Dollars up 6% vs. 2022; Third Consecutive Annual Increase

 

SANTA MONICA, California, February 29, 2024 – JAKKS Pacific, Inc. (NASDAQ: JAKK) today reported financial results for the fourth quarter ended December 31, 2023.

 

Fourth Quarter 2023

 

Net sales were $127.4 million, a year-over-year decrease of 3%

 

Gross margin of 26.5%, up 480 basis points vs. Q4 2022, led by improved landed product cost and reduced inventory obsolescence expense

 

Gross profit of $33.7 million, up 18% compared to $28.6 million in Q4 2022

 

Net loss attributable to common stockholders of $11.3 million (or $1.12 per diluted share), compared to net income attributable to common stockholders of $37.6 million or ($3.66 per diluted share) in Q4 2022

 

Adjusted net loss attributable to common stockholders (a non-GAAP measure) of $10.5 million (or $1.04 per diluted share), compared to adjusted net loss attributable to common stockholders of $13.9 million (or $1.42 per diluted share) in Q4 2022

 

Adjusted EBITDA (a non-GAAP measure) of $(10.9) million vs. $(12.1) million in Q4 2022

 

Full-Year 2023

 

Net sales were $711.6 million compared to $796.2 million last year, an 11% decrease

 

Gross margin of 31.4% compared to 26.5% last year

 

Gross profit of $223.4 million, up 6% compared to $211.3 million last year, and the highest dollar level since 2015

 

Operating income of $59.1 million compared to $61.0 million last year; a 3% decrease

 

Net income attributable to common stockholders of $36.9 million, down from a net income attributable to common stockholders of $90.0 million in 2022

 

Adjusted net income attributable to common stockholders of $48.9 million ($4.62 per diluted share), up from adjusted net income attributable to common stockholders of $43.6 million ($4.29 per diluted share) in 2022

 

Adjusted EBITDA of $75.7 million, down 1% versus $76.4 million in 2022

 

Cash flows provided by operating activities of $66.4 million, down from $86.1 million in 2022

 

Cash used in financing activities of $70.4 million, eliminating all long-term debt in the first half of 2023

 

End of year cash and cash equivalents of $72.6 million, down from $85.5 million in 2022

 

 

Management Commentary

“For the third consecutive year we have met or exceeded our key financial full-year targets” said Stephen Berman, CEO of JAKKS Pacific. “The year began with the challenge of revenue comparisons with a 2022 hit-driven blockbuster product line, but we also saw opportunities for gross margin improvements with a normalized supply chain. Gross and operating margins improved year-over-year despite a $80+ million decline in Net Sales, generating over $66 million in operating cash flow for the year.

 

“The holiday toy season came late this year, but we were pleased with the results. Two of our top three US Toys/Consumer Products customers achieved positive year-over-year retail sales results in Q4 despite challenging comparisons from the prior year. Our aggregate end-of-year inventory at retail at those three accounts is also down by a high single digit percentage compared to last year. Although customers are tentatively moving into the new year, we believe our core businesses remain on solid footing.

 

 

 

 

Fourth Quarter and Full-Year 2023 Results

Net sales for the fourth quarter of 2023 were $127.4 million, down 3% versus $131.9 million last year. The Toys/Consumer Products segment sales were up 1% globally (flat in North America; 7% International) and sales of Costumes were down 40% compared to last year (-54% North America; -20% International).

 

Full-year Toys/Consumer Products sales were down 10% compared to 2022. The Costumes segment was down 12% vs. 2022, as customers continue to recalibrate to post-COVID levels. Our 2023 Costumes performance was nonetheless 22% higher than 2021.

 

 

Balance Sheet Highlights

The Company’s cash and cash equivalents (including restricted cash) totaled $72.6 million as of December 31, 2023, compared to $85.5 million as of December 31, 2022.

 

Total debt was zero, compared to $67.2 million as of December 31, 2022. Total debt as of December 31, 2022, included the amount outstanding under the Company's term loan, net of unamortized discounts and issuance costs.

 

Inventory was $52.6 million, compared to $80.6 million as of December 31, 2022, a reduction of 35%.

 

 

Use of Non-GAAP Financial Information

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 which is a non-GAAP metric that excludes various items that are detailed in the financial tables and accompanying footnotes reconciling GAAP to non-GAAP results contained in this release. 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. 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. See the attached “Reconciliation of Non-GAAP Financial Information.” “Total liquidity” is calculated as cash and cash equivalents, plus availability under the Company’s $67.5 million revolving credit facility.

 

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 29, 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 (4Q23 Registration link) , and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call five 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®, Ami Amis™, Disguise®, Fly Wheels®, JAKKS Wild Games™, Moose Mountain®, Maui®, Perfectly Cute®, ReDo® Skateboard Co., Sky Ball®, SportsZone™, Xtreme Power Dozer®, and WeeeDo®, 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 the Recapitalization transaction 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

 

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

 

   

December 31,

 
   

2023

   

2022

 
   

(In thousands)

 

Assets

         

Current assets:

               

Cash and cash equivalents

  $ 72,350     $ 85,297  

Restricted cash

    204       193  

Accounts receivable, net

    123,797       102,771  

Inventory

    52,647       80,619  

Prepaid expenses and other assets

    6,374       6,331  

Total current assets

    255,372       275,211  
                 

Property and equipment

    135,956       130,437  

Less accumulated depreciation and amortization

    121,357       115,575  

Property and equipment, net

    14,599       14,862  
                 

Operating lease right-of-use assets, net

    23,592       19,913  

Deferred income tax assets, net

    68,143       57,804  

Goodwill

    35,083       35,083  

Intangibles and other assets, net

    2,162       2,469  

Total assets

  $ 398,951     $ 405,342  
                 
 Liabilities, Preferred Stock and Stockholders' Equity                
                 

Current liabilities:

               

Accounts payable

  $ 42,177     $ 33,687  

Accounts payable - Meisheng (related party)

    12,259       9,820  

Accrued expenses

    45,102       37,998  

Reserve for sales returns and allowances

    38,531       51,877  

Income taxes payable

    3,785       8,165  

Short term operating lease liabilities

    7,380       10,746  

Short term debt, net

    -       25,529  

Total current liabilities

    149,234       177,822  
                 

Long term operating lease liabilities

    16,666       9,863  

Accrued expenses - long term

    3,746       -  

Debt, non-current portion, net

    -       41,622  

Preferred stock derivative liability

    29,947       21,918  

Income taxes payable

    3,245       2,929  

Deferred income tax liabilities, net

    -       -  

Total liabilities

    202,838       254,154  
                 

Preferred stock accrued dividends

    5,992       4,490  
                 

Stockholders' equity:

               

Common stock, $.001 par value

    10       10  

Additional paid-in capital

    278,642       275,187  

Accumulated deficit

    (73,612 )     (112,018 )

Accumulated other comprehensive loss

    (15,627 )     (17,482 )

Total JAKKS Pacific, Inc. stockholders' equity

    189,413       145,697  

Non-controlling interests

    708       1,001  

Total stockholders' equity

    190,121       146,698  

Total liabilities, preferred stock and stockholders' equity

  $ 398,951     $ 405,342  

 

 

 

 

Supplemental Balance Sheet and Cash Flow Data (Unaudited)

 

   

December 31,

 

Key Balance Sheet Data:

 

2023

   

2022

 
                 

Accounts receivable days sales outstanding (DSO)

    89       72  

Inventory turnover (DSI)

    52       72  

 

   

Twelve Months Ended
December 31,

 
                 

Condensed Cash Flow Data:

 

2023

   

2022

 
                 

Cash flows provided by operating activities

  $ 66,404     $ 86,099  

Cash flows used in investing activities

    (8,907 )     (10,387 )

Cash flows used in financing activities and other

    (70,433 )     (35,554 )

Increase (Decrease) in cash, cash equivalents and restricted cash

  $ (12,936 )   $ 40,158  
                 

Capital expenditures

  $ (8,906 )   $ (10,389 )

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

 

   

Three Months Ended

December 31,

           

Twelve Months Ended

December 31,

         
   

2023

   

2022

   

Δ (%)

   

2023

   

2022

   

Δ (%)

 
   

(In thousands, except per share data)

           

(In thousands, except per share data)

         
                                                 

Net sales

  $ 127,396     $ 131,886       (3 )%   $ 711,557     $ 796,187       (11 )%

Less: Cost of sales

                                               

Cost of goods

    68,866       81,355       (15 )     362,378       449,597       (19 )

Royalty expense

    22,533       20,371       11       117,607       126,633       (7 )

Amortization of tools and molds

    2,264       1,592       42       8,219       8,671       (5 )

Cost of sales

    93,663       103,318       (9 )     488,204       584,901       (17 )

Gross profit

    33,733       28,568       18       223,353       211,286       6  

Direct selling expenses

    14,582       13,153       11       36,987       33,290       11  

General and administrative expenses

    34,401       30,752       12       126,893       114,819       11  

Depreciation and amortization

    90       360       (75 )     366       1,907       (81 )

Selling, general and administrative expenses

    49,073       44,265       11       164,246       150,016       9  

Intangibles impairment

    -       -       -       -       300       nm  

Income from operations

    (15,340 )     (15,697 )     (2 )     59,107       60,970       (3 )

Other income (expense):

                                               

Loss from joint ventures

    -       -       -       (565 )     -       nm  

Other income (expense), net

    139       277       (50 )     563       797       (29 )

Change in fair value of preferred stock derivative liability

    (1,361 )     1,429       nm       (8,029 )     (636 )     nm  

Loss on debt extinguishment

    -       -       -       (1,023 )     -       nm  

Interest income

    757       63       nm       1,344       127       nm  

Interest expense

    (710 )     (2,294 )     (69 )     (6,451 )     (11,183 )     (42 )

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

    (16,515 )     (16,222 )     2       44,946       50,075       (10 )

Provision for (benefit from) income taxes

    (5,643 )     (54,331 )     (90 )     6,833       (41,008 )     nm  

Net income (loss)

    (10,872 )     38,109       nm       38,113       91,083       (58 )

Net income (loss) loss attributable to non-controlling interests

    (4 )     140       nm       (293 )     (330 )     (11 )

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

  $ (10,868 )   $ 37,969       nm %   $ 38,406     $ 91,413       (58 )%

Net income (loss) attributable to common stockholders

  $ (11,252 )   $ 37,607       nm %   $ 36,904     $ 89,997       (59 )%

Earnings (loss) per share - basic

  $ (1.12 )   $ 3.86             $ 3.70     $ 9.33          

Shares used in earnings (loss) per share - basic

    10,084       9,732               9,962       9,651          

Earnings (loss) per share - diluted

  $ (1.12 )   $ 3.66             $ 3.48     $ 8.86          

Shares used in earnings (loss) per share - diluted

    10,084       10,263               10,590       10,155          

 

 

 

 

   

Three Months Ended

December 31,

           

Twelve Months Ended

December 31,

         
   

2023

   

2022

   

Δ bps

   

2023

   

2022

   

Δ bps

 
                   

Fav/(Unfav)

                   

Fav/(Unfav)

 

Net sales

    100.0 %     100.0 %     -       100.0 %     100.0 %     -  

Less: Cost of sales

                                               

Cost of goods

    54.0       61.7       770       50.9       56.5       560  

Royalty expense

    17.7       15.4       (230 )     16.5       15.9       (60 )

Amortization of tools and molds

    1.8       1.2       (60 )     1.2       1.1       (10 )

Cost of sales

    73.5       78.3       480       68.6       73.5       490  

Gross profit

    26.5       21.7       480       31.4       26.5       490  

Direct selling expenses

    11.4       10.0       (140 )     5.2       4.2       (100 )

General and administrative expenses

    27.0       23.3       (370 )     17.8       14.4       (340 )

Depreciation and amortization

    0.1       0.3       20       0.1       0.2       10  

Selling, general and administrative expenses

    38.5       33.6       (490 )     23.1       18.8       (430 )

Intangibles impairment

    -       -       -       -       -       -  

Income from operations

    (12.0 )     (11.9 )     (10 )     8.3       7.7       60  

Other income (expense):

                                               

Loss from joint ventures

    -       -               (0.1 )     -          

Other income (expense), net

    0.1       0.2               0.1       0.1          

Change in fair value of preferred stock derivative liability

    (1.1 )     1.1               (1.1 )     (0.1 )        

Loss on debt extinguishment

    -       -               (0.1 )     -          

Interest income

    0.6       -               0.2       -          

Interest expense

    (0.6 )     (1.7 )             (0.9 )     (1.4 )        

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

    (13.0 )     (12.3 )             6.4       6.3          

Provision for (benefit from) income taxes

    (4.5 )     (41.2 )             1.0       (5.2 )        

Net income (loss)

    (8.5 )     28.9               5.4       11.5          

Net income (loss) loss attributable to non-controlling interests

    -       0.1               -       -          

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

    (8.5 )%     28.8 %             5.4 %     11.5 %        

Net income (loss) attributable to common stockholders

    (8.8 )%     28.5 %             5.2 %     11.3 %        

 

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Information (Unaudited)

 

 

Reconciliation of GAAP to Non-GAAP measures:

 

This press release and accompanying 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. We believe that the use of the non-GAAP financial measures enhances 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.

 

 

   

Three Months Ended

December 31,

           

Twelve Months Ended

December 31,

         
   

2023

   

2022

   

Δ ($)

   

2023

   

2022

   

Δ ($)

 
   

(In thousands)

            (In thousands)          

EBITDA and Adjusted EBITDA

                                               

Net income

  $ (10,872 )   $ 38,109     $ (48,981 )   $ 38,113     $ 91,083     $ (52,970 )

Interest expense

    710       2,294       (1,584 )     6,451       11,183       (4,732 )

Interest income

    (757 )     (63 )     (694 )     (1,344 )     (127 )     (1,217 )

Provision for income taxes

    (5,643 )     (54,331 )     48,688       6,833       (41,008 )     47,841  

Depreciation and amortization

    2,354       1,952       402       10,336       10,578       (242 )

EBITDA

    (14,208 )     (12,039 )     (2,169 )     60,389       71,709       (11,320 )

Adjustments:

                                               

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

    -       -       -       276       -       276  

Loss from joint ventures (Meisheng - 49%)

    -       -       -       289       -       289  

Other (income) expense, net

    (139 )     (277 )     138       (563 )     (797 )     234  

Restricted stock compensation expense

    2,057       1,646       411       8,027       5,082       2,945  

Change in fair value of preferred stock derivative liability

    1,361       (1,429 )     2,790       8,029       636       7,393  

Employee Retention Credit/gov't employment support

    -       -       -       -       (249 )     249  

Molds and tooling capitalization

    -       -       -       (1,751 )     -       (1,751 )

Loss on debt extinguishment

    -       -       -       1,023       -       1,023  

Adjusted EBITDA

  $ (10,929 )   $ (12,099 )   $ 1,170     $ 75,719     $ 76,381     $ (662 )

Adjusted EBITDA/Net sales %

    (8.6 )%     (9.2 )%  

60 bps

      10.6 %     9.6 %  

100 bps

 

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Information (Unaudited)

 

   

Three Months Ended

December 31,

           

Twelve Months Ended

December 31,

         
   

2023

   

2022

   

Δ ($)

   

2023

   

2022

   

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

  $ (11,252 )   $ 37,607     $ (48,859 )   $ 36,904     $ 89,997     $ (53,093 )

Restricted stock compensation expense

    2,057       1,646       411       8,027       5,082       2,945  

Change in fair value of preferred stock derivative liability

    1,361       (1,429 )     2,790       8,029       636       7,393  

Loss on debt extinguishment

    -       -       -       1,023       -       1,023  

Employee Retention Credit/gov't employment support

    -       -       -       -       (249 )     249  

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

    -       -       -       276       -       276  

2021 BSP Term Loan prepayment penalty

    -       -       -       150       525       (375 )

Molds and Tooling capitalization

    -       -       -       (1,751 )     -       (1,751 )

Valuation allowance release/adjustments

    (2,577 )     (51,178 )     48,601       (2,577 )     (51,178 )     48,601  

Tax impact of additional charges

    (96 )     (511 )     415       (1,175 )     (1,208 )     33  

Adjusted net income (loss) attributable to common stockholders

  $ (10,507 )   $ (13,865 )   $ 3,358     $ 48,906     $ 43,605     $ 5,301  

Adjusted earnings (loss) per share - basic

  $ (1.04 )   $ (1.42 )   $ 0.38     $ 4.91     $ 4.52     $ 0.39  

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

    10,084       9,732       352       9,962       9,651       311  

Adjusted earnings (loss) per share - diluted

  $ (1.04 )   $ (1.42 )   $ 0.38     $ 4.62     $ 4.29     $ 0.32  

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

    10,084       9,732       352       10,590       10,155       435  

 

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Net Sales by Division and Geographic Region

 

(In thousands)

QTD Q4

   

(In thousands)

FY

 

Divisions

2023

 

2022

 

2021

 

% Change
2023 v 2022

 

% Change
2022 v 2021

   

Divisions

2023

 

2022

 

2021

 

% Change
2023 v 2022

 

% Change
2022 v 2021

 

 Toys/Consumer Products

$ 118,855   $ 117,727   $ 179,152     1.0 %   -34.3 %  

 Toys/Consumer Products

$ 580,686   $ 647,317   $ 513,517     -10.3 %   26.1 %

  Dolls, Role-Play/Dress Up

  73,272     68,937     116,877     6.3 %   -41.0 %  

  Dolls, Role-Play/Dress Up

  319,962     423,581     323,360     -24.5 %   31.0 %

  Action Play & Collectibles

  35,312     38,909     41,164     -9.2 %   -5.5 %  

  Action Play & Collectibles

  219,446     173,529     114,778     26.5 %   51.2 %

  Outdoor/Seasonal Toys

  10,272     9,881     21,111     4.0 %   -53.2 %  

  Outdoor/Seasonal Toys

  41,279     50,207     75,379     -17.8 %   -33.4 %

 Costumes

$ 8,541   $ 14,159   $ 8,812     -39.7 %   60.7 %  

 Costumes

  130,870     148,870     107,599     -12.1 %   38.4 %

Total

$ 127,396   $ 131,886   $ 187,964     -3.4 %   -29.8 %  

Total

$ 711,557   $ 796,187   $ 621,116     -10.6 %   28.2 %
                                                                 
                                                                 
                                                                 

(In thousands)

QTD Q4

   

(In thousands)

FY

 

Regions

2023

 

2022

 

2021

 

% Change
2023 v 2022

 

% Change
2022 v 2021

   

Regions

2023

 

2022

 

2021

 

% Change
2023 v 2022

 

% Change
2022 v 2021

 

United States

$ 96,304   $ 100,907   $ 148,876     -4.6 %   -32.2 %  

United States

$ 557,865   $ 644,295   $ 512,193     -13.4 %   25.8 %

Europe

  17,988     19,437     22,322     -7.5 %   -12.9 %  

Europe

  76,464     85,348     60,425     -10.4 %   41.2 %

Latin America

  4,434     2,626     4,483     68.8 %   -41.4 %  

Latin America

  32,024     18,338     12,606     74.6 %   45.5 %

Canada

  4,686     4,795     5,596     -2.3 %   -14.3 %  

Canada

  26,992     26,515     17,999     1.8 %   47.3 %

Asia

  2,140     1,698     3,018     26.0 %   -43.7 %  

Asia

  8,543     10,431     9,232     -18.1 %   13.0 %

Australia & New Zealand

  1,486     1,822     2,496     -18.4 %   -27.0 %  

Australia & New Zealand

  7,542     8,836     6,423     -14.6 %   37.6 %

Middle East & Africa

  358     601     1,173     -40.4 %   -48.8 %  

Middle East & Africa

  2,127     2,424     2,238     -12.3 %   8.3 %

Total

$ 127,396   $ 131,886   $ 187,964     -3.4 %   -29.8 %  

Total

$ 711,557   $ 796,187   $ 621,116     -10.6 %   28.2 %
                                                                 
                                                                 

(In thousands)

QTD Q4

   

(In thousands)

FY

 

Regions

2023

 

2022

 

2021

 

% Change
2023 v 2022

 

% Change
2022 v 2021

   

Regions

2023

 

2022

 

2021

 

% Change
2023 v 2022

 

% Change
2022 v 2021

 

North America

$ 100,990   $ 105,702   $ 154,472     -4.5 %   -31.6 %  

North America

$ 584,857   $ 670,810   $ 530,192     -12.8 %   26.5 %

International

  26,406     26,184     33,492     0.8 %   -21.8 %  

International

  126,700     125,377     90,924     1.1 %   37.9 %

Total

$ 127,396   $ 131,886   $ 187,964     -3.4 %   -29.8 %  

Total

$ 711,557   $ 796,187   $ 621,116     -10.6 %   28.2 %