secwatch.observer — SEC 8-K summary
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Issuer:     JAKKS PACIFIC INC (JAKK)
CIK:        0001009829
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001185185-23-000197
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

JAKKS Pacific Q4 sales $131.9M, -30% YoY; FY sales +28% to $796.2M; adjusted EBITDA +55%
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- Q4 net sales $131.9M (-30% YoY); adjusted net loss $14.0M ($1.44/share) vs. adjusted net income $1.3M in Q4 2021.
- Full-year net sales $796.2M (+28% YoY); adjusted net income $43.4M ($4.28/share) vs. $23.6M ($2.59) in 2021.
- Full-year adjusted EBITDA $76.4M (+55%); operating cash flow $86.1M; long-term debt reduced 55% YoY.
- Q4 includes $52.6M non-cash deferred tax asset gain; net income $38.9M vs. net loss $3.5M YoY.
- COO Jack McGrath to become President European Operations effective Jan 1, 2024; salary $500K; term to Dec 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009829/000118518523000197/0001185185-23-000197-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009829/000118518523000197/jakkspacif20230309_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-000197

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer