JAKKS reports Q1 net sales up 44% to $120.9M, narrows loss; amends credit facility

JAKKS PACIFIC INC

Q1 net sales $120.9M (+44% YoY); highest Q1 since 2008.
Net loss attributable to common $4.2M ($0.43/sh) vs loss $24.4M ($4.54/sh) in Q1 2021.
Adjusted EBITDA turned positive at $1.9M vs negative $2.4M; TTM adjusted EBITDA $53.6M (+36%).
Gross margin fell to 24.7% from 31.1% due to higher ocean freight costs.
Entered First Amendment to credit agreement; minimum cash requirements set at $15M-$20M through Sep 2022.

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