Company Announcements

JAKKS Pacific Reports Fourth Quarter and Full-Year 2022 Financial Results

Second Consecutive Year of 20+% Sales Growth

Long-term Debt Reduced 55% Year-over-year

SANTA MONICA, Calif.--(BUSINESS WIRE)--Mar. 9, 2023-- JAKKS Pacific, Inc. [NASDAQ: JAKK] today reported financial results for thefourth quarter ended December 31, 2022.

Fourth Quarter 2022

  • Net sales were $131.9 million compared to $188.0 million last year; a 30% decrease
  • Gross margin of 21.7%, negatively impacted by lower capitalization of warehouse costs, higher tooling amortization, obsolete inventory and royalty expense, offset by lower inbound freight expenses
  • A valuation allowance release against a deferred tax asset generated a $52.6 million non-cash gain
  • Net income attributable to common stockholders of $38.9 million, up from a net loss attributable to common stockholders of $3.5 million in Q4 2021
  • Adjusted net loss attributable to common stockholders of $14.0 million, down from adjusted net income attributable to common stockholders of $1.3 million in Q4 2021
  • Adjusted EBITDA of $(12.1) million, down from $5.0 million in Q4 2021.

Full-Year 2022

  • Net sales were $796.2 million compared to $621.1 million last year; a 28% increase
  • Gross margin of 26.5% compared to 29.5% last year
  • Operating income of $61.0 million compared to $38.8 million last year; a 57% increase
  • Net income attributable to common stockholders of $91.3 million, up from a net loss attributable to common stockholders of $7.3 million in 2021
  • Adjusted EBITDA of $76.4 million up 55% versus $49.2 million in 2021
  • Adjusted net income attributable to common stockholders of $43.4 million ($4.28 per diluted share), up from adjusted net income attributable to common stockholders of $23.6 million ($2.59 per diluted share) in 2021
  • Cash flows provided by operating activities of $86.1 million, compared to cash flows used in operating activities of $5.9 million in 2021
    • Cash flow sweep loan provision will reduce debt by $23.1 million in Q1 2023

Management Commentary

“2022 exceeded our expectations with a second consecutive year of 20+% sales growth and, more importantly, strong retail sell-through for our customers,” said Stephen Berman, JAKKS Pacific’s Chairman and CEO. “In addition to a couple of strong successes, we saw solid results from the majority of our product lines. We shipped an exceptional amount of product in a compressed time-window resulting in higher-than-average costs in our domestic fulfilment operations in the back half of the year, suppressing our full-year margins. In Q4, and in the new year, we focused on resetting our inventory position and warehouse capacity and feel well-positioned for the new year. Our North American business grew 27% on a full-year basis, and our International business grew by 38%.

“We have a great line-up of new introductions in 2023. We’re launching and extending some of our own brands, in addition to introducing new product lines in association with film and TV releases throughout the year. Although we anticipate the business reverting to its more traditional second-half seasonality, our focus on prioritizing FOB sales continues, which results in shipments earlier in the year as compared with other companies. We are also working diligently to capture year-over-year margin improvement opportunities both on product and in the supply-chain.”

Fourth Quarter and Full-Year Results

Net sales for the fourth quarter 2022 were $131.9 million, down 30% versus $188.0 million last year. The decrease was anticipated given customers ordering product earlier than the traditional seasonality, in addition to a late shipment in Q3 2021 creating an atypically high Q4 2021 sales level. Net sales in the Toys/Consumer Products segment were down 34% globally, 34% in North America and 35% in International. For the full year, North America Toys/Consumer Products was up 26% and International was up 28%. Net sales in the Costumes segment increased 61% compared to Q4 2021 and were up 38% for the full year. Our Top 10 markets all achieved sales growth year-over-year.

A release of a deferred tax asset valuation allowance created a non-cash gain of $52.6 million in the quarter. Net income attributable to common stockholders increased to $38.9 million, or $3.79 per diluted share, compared to a net loss attributable to common stockholders of $3.5 million, or $0.37 per diluted share for the fourth quarter of 2021. Adjusting out the gain on the valuation allowance and other customary adjustments led to an adjusted net loss attributable to common stockholders (a non-GAAP measure) of $14.0 million, or $1.44 per diluted share in the fourth quarter of 2022 versus adjusted net income attributable to common stockholders of $1.3 million or $0.14 per diluted share in the fourth quarter of 2021. On a full-year basis, net income attributable to common stockholders improved to $91.3 million versus a net loss attributable to common stockholders of $7.3 million in 2021. Full-year adjusted net income attributable to common stockholders was $43.4 million, or $4.28 per diluted share, compared to a 2021 adjusted net income attributable to common stockholders of $23.6 million, or $2.59 per diluted share. See note below on “Use of Non-GAAP Financial Information.”

Adjusted EBITDA (a non-GAAP measure) for full-year 2022 grew to $76.4 million (9.6% of net sales), the highest full-year level of Adjusted EBITDA dollars and margin since 2010.

Cash and Cash Equivalents; Debt

The Company’s cash and cash equivalents (including restricted cash) totaled $85.5 million as of December 31, 2022, compared to $45.3 million as of December 31, 2021. The cash flow sweep provision of the Company’s Term Loan triggers a mandatory paydown of $23.1 million based on full-year results. That amount is now reclassified to short-term debt on the 12/31/2022 balance sheet, in addition to this year’s scheduled principal amortization. Separately, in January 2023, the company used a portion of its cash-on-hand to make an optional pay-down of its long-term debt of $15 million, incurring $150K in pre-payment penalties. As we have made the sweep payment upon finalizing our financials, the current payoff balance of our Term Loan is $30.8 million. Cash and cash equivalents (including restricted cash) total $40.2 million as of March 3, 2023. The company currently has no draw on its asset-based loan.

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 earnings per share and Adjusted EBITDA 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. 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.” “Liquidity” is calculated as cash and cash equivalents, including restricted cash, 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 March 9, 2023. 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 (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 and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include Perfectly Cute™, Ami-Amis™, ReDo™ Skateboard Co, AirTitans®, Disguise®, JAKKS Wild Games™, Moose Mountain®, Maui®, SportsZone™, Fly Wheels™, Kids Only!®; a wide range of entertainment-inspired products featuring premier licensed properties; and C’est Moi™, a new generation of clean beauty. Through JAKKS Cares, the company’s commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (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 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.

JAKKS Pacific, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
 
December 31,

2022

2021

(In thousands)
Assets
Current assets:
Cash and cash equivalents

$

85,297

 

$

44,521

 

Restricted cash

 

193

 

 

811

 

Accounts receivable, net

 

102,771

 

 

147,394

 

Inventory

 

80,619

 

 

83,954

 

Prepaid expenses and other assets

 

6,331

 

 

10,877

 

Total current assets

 

275,211

 

 

287,557

 

 
Property and equipment

 

130,437

 

 

121,945

 

Less accumulated depreciation and amortization

 

115,575

 

 

108,796

 

Property and equipment, net

 

14,862

 

 

13,149

 

 
Operating lease right-of-use assets, net

 

19,913

 

 

16,950

 

Deferred income tax assets, net

 

51,762

 

 

-

 

Goodwill

 

35,083

 

 

35,083

 

Intangibles and other assets, net

 

2,469

 

 

4,308

 

Total assets

$

399,300

 

$

357,047

 

 
 
Liabilities, Preferred Stock and Stockholders' Equity
 
Current liabilities:
Accounts payable

$

33,687

 

$

50,237

 

Accounts payable - Meisheng (related party)

 

9,820

 

 

15,894

 

Accrued expenses

 

37,999

 

 

47,071

 

Reserve for sales returns and allowances

 

51,877

 

 

46,285

 

Income taxes payable

 

3,648

 

 

1,004

 

Short term operating lease liabilities

 

10,746

 

 

10,477

 

Short term debt, net

 

25,529

 

 

2,104

 

Total current liabilities

 

173,306

 

 

173,072

 

 
Long term operating lease liabilities

 

9,863

 

 

8,039

 

Debt, non-current portion, net

 

41,622

 

 

93,415

 

Preferred stock derivative liability

 

21,918

 

 

21,282

 

Income taxes payable

 

114

 

 

215

 

Deferred income tax liabilities, net

 

-

 

 

51

 

Total liabilities

 

246,823

 

 

296,074

 

 
Preferred stock accrued dividends

 

4,490

 

 

3,074

 

 
Stockholders' equity:
Common stock, $.001 par value

 

10

 

 

10

 

Additional paid-in capital

 

275,187

 

 

272,941

 

Accumulated deficit

 

(110,729

)

 

(203,431

)

Accumulated other comprehensive loss

 

(17,482

)

 

(12,952

)

Total JAKKS Pacific, Inc. stockholders' equity

 

146,986

 

 

56,568

 

Non-controlling interests

 

1,001

 

 

1,331

 

Total stockholders' equity

 

147,987

 

 

57,899

 

Total liabilities, preferred stock and stockholders' equity

$

399,300

 

$

357,047

 

 
 
Supplemental Balance Sheet and Cash Flow Data (Unaudited)
 
December 31,
Key Balance Sheet Data:

2022

2021

 
Accounts receivable days sales outstanding (DSO)

 

72

 

 

72

 

Inventory turnover (DSI)

 

72

 

 

56

 

 
 

Twelve Months Ended

December 31,

Condensed Cash Flow Data:

2022

2021

(In thousands)
Cash flows provided by (used in) operating activities

$

86,098

 

$

(5,879

)

Cash flows used in investing activities

 

(10,387

)

 

(8,189

)

Cash flows used in financing activities and other

 

(35,554

)

 

(33,293

)

Increase/(decrease) in cash, cash equivalents and restricted cash

$

40,157

 

$

(47,361

)

 
Capital expenditures

$

(10,389

)

$

(8,221

)

JAKKS Pacific, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations (Unaudited)
 

Three Months Ended

December 31,

 

Twelve Months Ended

December 31,

 

2022

2021

Δ (%)

2022

2021

Δ (%)

(In thousands, except

per share data)

 

(In thousands, except

per share data)

 

 
Net sales

$

131,886

 

$

187,964

 

(30

)%

$

796,187

 

$

621,116

 

28

%

Less: Cost of sales
Cost of goods

 

81,355

 

 

111,497

 

(27

)

 

449,597

 

 

343,130

 

31

 

Royalty expense

 

20,371

 

 

25,641

 

(21

)

 

126,633

 

 

87,187

 

45

 

Amortization of tools and molds

 

1,592

 

 

784

 

103

 

 

8,671

 

 

7,842

 

11

 

Cost of sales

 

103,318

 

 

137,922

 

(25

)

 

584,901

 

 

438,159

 

33

 

Gross profit

 

28,568

 

 

50,042

 

(43

)

 

211,286

 

 

182,957

 

15

 

Direct selling expenses

 

13,153

 

 

19,252

 

(32

)

 

33,290

 

 

43,069

 

(23

)

General and administrative expenses

 

30,752

 

 

27,262

 

13

 

 

114,819

 

 

98,712

 

16

 

Depreciation and amortization

 

360

 

 

602

 

(40

)

 

1,907

 

 

2,409

 

(21

)

Selling, general and administrative expenses

 

44,265

 

 

47,116

 

(6

)

 

150,016

 

 

144,190

 

4

 

Intangibles impairment

 

-

 

 

-

 

-

 

 

300

 

 

-

 

nm

 

Income (loss) from operations

 

(15,697

)

 

2,926

 

nm

 

 

60,970

 

 

38,767

 

57

 

Other income (expense):
Other income (expense), net

 

277

 

 

190

 

46

 

 

797

 

 

446

 

79

 

Change in fair value of convertible senior notes

 

-

 

 

76

 

nm

 

 

-

 

 

(16,419

)

nm

 

Change in fair value of preferred stock derivative liability

 

1,429

 

 

(4,207

)

nm

 

 

(636

)

 

(13,220

)

(95

)

Gain on loan forgiveness

 

-

 

 

-

 

-

 

 

-

 

 

6,206

 

nm

 

Loss on debt extinguishment

 

-

 

 

-

 

-

 

 

-

 

 

(7,351

)

nm

 

Interest income

 

63

 

 

3

 

nm

 

 

127

 

 

13

 

nm

 

Interest expense

 

(2,294

)

 

(2,201

)

4

 

 

(11,183

)

 

(14,104

)

(21

)

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

 

(16,222

)

 

(3,213

)

405

 

 

50,075

 

 

(5,662

)

nm

 

Provision for (benefit from) income taxes

 

(55,620

)

 

(60

)

nm

 

 

(42,297

)

 

226

 

nm

 

Net income (loss)

 

39,398

 

 

(3,153

)

nm

 

 

92,372

 

 

(5,888

)

nm

 

Net income (loss) attributable to non-controlling interests

 

140

 

 

19

 

nm

 

 

(330

)

 

120

 

nm

 

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

$

39,258

 

$

(3,172

)

nm

%

$

92,702

 

$

(6,008

)

nm

%

Net income (loss) attributable to common stockholders

$

38,896

 

$

(3,513

)

nm

%

$

91,286

 

$

(7,342

)

nm

%

Earnings (loss) per share - basic

$

4.00

 

$

(0.37

)

$

9.46

 

$

(0.98

)

Shares used in earnings (loss) per share - basic

 

9,732

 

 

9,511

 

 

9,651

 

 

7,498

 

Earnings (loss) per share - diluted

$

3.79

 

$

(0.37

)

$

8.99

 

$

(0.98

)

Shares used in earnings (loss) per share - diluted

 

10,263

 

 

9,511

 

 

10,155

 

 

7,498

 

 

Three Months Ended

December 31,

 

Twelve Months Ended

December 31,

 

2022

2021

Δ bps

2022

2021

Δ bps

 

 

Fav/(Unfav)

 

 

Fav/(Unfav)

Net sales

 

100.0

%

 

100.0

%

-

 

 

100.0

%

 

100.0

%

-

 

Less: Cost of sales
Cost of goods

 

61.7

 

 

59.3

 

(240

)

 

56.5

 

 

55.2

 

(130

)

Royalty expense

 

15.4

 

 

13.6

 

(180

)

 

15.9

 

 

14.0

 

(190

)

Amortization of tools and molds

 

1.2

 

 

0.5

 

(70

)

 

1.1

 

 

1.3

 

20

 

Cost of sales

 

78.3

 

 

73.4

 

(490

)

 

73.5

 

 

70.5

 

(300

)

Gross profit

 

21.7

 

 

26.6

 

(490

)

 

26.5

 

 

29.5

 

(300

)

Direct selling expenses

 

10.0

 

 

10.2

 

20

 

 

4.2

 

 

6.9

 

270

 

General and administrative expenses

 

23.3

 

 

14.5

 

(880

)

 

14.4

 

 

15.9

 

150

 

Depreciation and amortization

 

0.3

 

 

0.3

 

-

 

 

0.2

 

 

0.4

 

20

 

Selling, general and administrative expenses

 

33.6

 

 

25.0

 

(860

)

 

18.8

 

 

23.2

 

440

 

Intangibles impairment

 

-

 

 

-

 

-

 

 

-

 

 

-

 

-

 

Income (loss) from operations

 

(11.9

)

 

1.6

 

(1,350

)

 

7.7

 

 

6.3

 

140

 

Other income (expense):
Other income (expense), net

 

0.2

 

 

0.1

 

 

0.1

 

 

-

 

Change in fair value of convertible senior notes

 

-

 

 

-

 

 

-

 

 

(2.6

)

Change in fair value of preferred stock derivative liability

 

1.1

 

 

(2.2

)

 

(0.1

)

 

(2.1

)

Gain on loan forgiveness

 

-

 

 

-

 

 

-

 

 

1.0

 

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

(1.2

)

Interest income

 

-

 

 

-

 

 

-

 

 

-

 

Interest expense

 

(1.7

)

 

(1.2

)

 

(1.4

)

 

(2.3

)

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

 

(12.3

)

 

(1.7

)

 

6.3

 

 

(0.9

)

Provision for (benefit from) income taxes

 

(42.2

)

 

-

 

 

(5.3

)

 

-

 

Net income (loss)

 

29.9

 

 

(1.7

)

 

11.6

 

 

(0.9

)

Net income (loss) attributable to non-controlling interests

 

0.1

 

 

-

 

 

-

 

 

-

 

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

 

29.8

%

 

(1.7

)%

 

11.6

%

 

(0.9

)%

Net income (loss) attributable to common stockholders

 

29.5

%

 

(1.9

)%

 

11.5

%

 

(1.2

)%

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,

2022

2021

Δ ($)

2022

2021

Δ ($)
(In thousands) (In thousands)
EBITDA and Adjusted EBITDA
Net income (loss)

$

39,398

 

$

(3,153

)

$

42,551

 

$

92,372

 

$

(5,888

)

$

98,260

 

Interest expense

 

2,294

 

 

2,201

 

 

93

 

 

11,183

 

 

14,104

 

 

(2,921

)

Interest income

 

(63

)

 

(3

)

 

(60

)

 

(127

)

 

(13

)

 

(114

)

Provision for (benefit from) income taxes

 

(55,620

)

 

(60

)

 

(55,560

)

 

(42,297

)

 

226

 

 

(42,523

)

Depreciation and amortization

 

1,952

 

 

1,386

 

 

566

 

 

10,578

 

 

10,251

 

 

327

 

EBITDA

 

(12,039

)

 

371

 

 

(12,410

)

 

71,709

 

 

18,680

 

 

53,029

 

Adjustments:
Other (income) expense, net

 

(277

)

 

(190

)

 

(87

)

 

(797

)

 

(446

)

 

(351

)

Restricted stock compensation expense

 

1,646

 

 

713

 

 

933

 

 

5,082

 

 

2,093

 

 

2,989

 

Change in fair value of preferred stock derivative liability

 

(1,429

)

 

4,207

 

 

(5,636

)

 

636

 

 

13,220

 

 

(12,584

)

Change in fair value of convertible senior notes

 

-

 

 

(76

)

 

76

 

 

-

 

 

16,419

 

 

(16,419

)

Employee Retention Credit/gov't employment support

 

-

 

 

-

 

 

-

 

 

(249

)

 

(1,900

)

 

1,651

 

Gain on loan forgiveness

 

-

 

 

-

 

 

-

 

 

-

 

 

(6,206

)

 

6,206

 

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

-

 

 

7,351

 

 

(7,351

)

Adjusted EBITDA

$

(12,099

)

$

5,025

 

$

(17,124

)

$

76,381

 

$

49,211

 

$

27,170

 

Adjusted EBITDA/Net sales %

 

(9.2

)%

 

2.7

%

 

-1190 bps

 

 

9.6

%

 

7.9

%

 

170 bps

 

 
 

Three Months Ended

December 31,

Twelve Months Ended

December 31,

2022

2021

Δ ($)

2022

2021

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

$

38,896

 

$

(3,513

)

$

42,409

 

$

91,286

 

$

(7,342

)

$

98,628

 

Restricted stock compensation expense

 

1,646

 

 

713

 

 

933

 

 

5,082

 

 

2,093

 

 

2,989

 

Change in fair value of preferred stock derivative liability

 

(1,429

)

 

4,207

 

 

(5,636

)

 

636

 

 

13,220

 

 

(12,584

)

Change in fair value of convertible senior notes

 

-

 

 

(76

)

 

76

 

 

-

 

 

16,419

 

 

(16,419

)

Loss on debt extinguishment

 

-

 

 

-

 

 

-

 

 

-

 

 

7,351

 

 

(7,351

)

Gain on loan forgiveness

 

-

 

 

-

 

 

-

 

 

-

 

 

(6,206

)

 

6,206

 

Employee Retention Credit/gov't employment support

 

-

 

 

-

 

 

-

 

 

(249

)

 

(1,900

)

 

1,651

 

2021 BSP Term Loan prepayment penalty

 

-

 

 

-

 

 

-

 

 

525

 

 

-

 

 

525

 

Valuation allowance release

 

(52,644

)

 

-

 

 

(52,644

)

 

(52,644

)

 

-

 

 

(52,644

)

Tax impact of additional charges

 

(511

)

 

-

 

 

(511

)

 

(1,208

)

 

-

 

 

(1,208

)

Adjusted net income (loss) attributable to common stockholders

$

(14,042

)

$

1,331

 

$

(15,373

)

$

43,428

 

$

23,635

 

$

19,793

 

Adjusted earnings (loss) per share - basic

$

(1.44

)

$

0.14

 

$

(1.58

)

$

4.50

 

$

3.15

 

$

1.35

 

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

 

9,732

 

 

9,511

 

 

221

 

 

9,651

 

 

7,498

 

 

2,153

 

Adjusted earnings (loss) per share - diluted

$

(1.44

)

$

0.14

 

$

(1.58

)

$

4.28

 

$

2.59

 

$

1.69

 

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

 

9,732

 

 

9,762

 

 

(30

)

 

10,155

 

 

9,365

 

 

790

 

JAKKS Pacific, Inc. and Subsidiaries
Net Sales by Division and Geographic Region
 
(In thousands) QTD Q4 (In thousands) FY 2022
Divisions

2022

2021

2020

% Change

2022 v 2021

% Change

2021 v 2020

 

Divisions

2022

2021

2020

% Change

2022 v 2021

% Change

2021 v 2020

Toys/Consumer Products

$117,727

$179,152

$121,034

-34.3%

48.0%

Toys/Consumer Products

$647,317

$513,517

$427,122

26.1%

20.2%

Dolls, Role-Play/Dress Up

68,937

116,877

72,970

-41.0%

60.2%

Dolls, Role-Play/Dress Up

423,581

323,360

275,154

31.0%

17.5%

Action Play & Collectibles

38,909

41,164

26,609

-5.5%

54.7%

Action Play & Collectibles

173,529

114,778

80,560

51.2%

42.5%

Outdoor/Seasonal Toys

9,881

21,111

21,455

-53.2%

-1.6%

Outdoor/Seasonal Toys

50,207

75,379

71,408

-33.4%

5.6%

Costumes

14,159

8,812

7,233

60.7%

21.8%

Costumes

148,870

107,599

88,750

38.4%

21.2%

Total

$131,886

$187,964

$128,267

-29.8%

46.5%

Total

$796,187

$621,116

$515,872

28.2%

20.4%

 
 
 
(In thousands) QTD Q4 (In thousands) FY 2022
Regions

2022

2021

2020

% Change

2022 v 2021

% Change

2021 v 2020

 

Regions

2022

2021

2020

% Change

2022 v 2021

% Change

2021 v 2020

United States

$100,907

$148,876

$100,224

-32.2%

48.5%

United States

$644,295

$512,193

$421,222

25.8%

21.6%

Europe

19,437

22,322

17,461

-12.9%

27.8%

Europe

85,348

60,425

51,885

41.2%

16.5%

Canada

4,795

5,596

3,931

-14.3%

42.4%

Canada

26,515

17,999

18,486

47.3%

-2.6%

Latin America

2,626

4,483

1,148

-41.4%

290.5%

Latin America

18,338

12,606

7,734

45.5%

63.0%

Asia

1,698

3,018

2,309

-43.7%

30.7%

Asia

10,431

9,232

8,285

13.0%

11.4%

Australia & New Zealand

1,822

2,496

1,526

-27.0%

63.6%

Australia & New Zealand

8,836

6,423

5,795

37.6%

10.8%

Middle East & Africa

601

1,173

1,668

-48.8%

-29.7%

Middle East & Africa

2,424

2,238

2,465

8.3%

-9.2%

Total

$131,886

$187,964

$128,267

-29.8%

46.5%

Total

$796,187

$621,116

$515,872

28.2%

20.4%

 
 
(In thousands) QTD Q4 (In thousands) FY 2022
Regions

2022

2021

2020

% Change

2022 v 2021

% Change

2021 v 2020

 

Regions

2022

2021

2020

% Change

2022 v 2021

% Change

2021 v 2020

North America

$105,702

$154,472

$104,155

-31.6%

48.3%

North America

$670,810

$530,192

$439,708

26.5%

20.6%

International

26,184

33,492

24,112

-21.8%

38.9%

International

125,377

90,924

76,164

37.9%

19.4%

Total

$131,886

$187,964

$128,267

-29.8%

46.5%

Total

$796,187

$621,116

$515,872

28.2%

20.4%

 

JAKKS Pacific Investor Relations
(424) 268-9567
Lucas Natalini
investors@jakks.net

Source: JAKKS Pacific, Inc.