JAKKS Pacific Q1 net sales $107.5M (-11% YoY); net loss widens to $5.7M, but gross margin improves 450 bps

JAKKS PACIFIC INC

Net sales $107.5M (-11% vs $120.9M Q1 2022); gross margin 29.2% (+450 bps); gross profit $31.4M (+5%).
Net loss attributable to common stockholders $5.7M ($0.58/share) vs $4.2M loss ($0.43) in Q1 2022.
Adjusted EBITDA negative $1.1M vs positive $1.9M; TTM adjusted EBITDA $73.3M (+37% from $53.6M).
International segment grew: Toys/Consumer Products +7% to $20.0M, Costumes +64% to $3.0M; Latin America strong.
Long-term debt reduced to under $30M during Q1; temporary warehouse costs drove SG&A higher.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

JAKKS PACIFIC INC reported the first quarter ended March 31, 2023 results: revenue Net sales were $107.5 million, net income Net loss attributable to common stockholders was $5.7 million, EPS $0.58 per basic and diluted share.

Period: the first quarter ended March 31, 2023
Revenue: Net sales were $107.5 million
Net income: Net loss attributable to common stockholders was $5.7 million
EPS: $0.58 per basic and diluted share
Result: reported results

Exact text from the filing

April 27, 2023 – JAKKS Pacific, Inc. [NASDAQ: JAKK] today reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 Overview: ● Net sales were $107.5 million, down 11% compared to $120.9 million in Q1 2022 ● Back-to-back $100+ million net sales Q1s for the first time since 2008-2009 ● Gross margin of 29.2%, up 450 basis points vs. Q1

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Source: SEC EDGAR

accession 0001185185-23-000415

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