Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 7

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 7
Chunk 7
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 Measures” below for further discussion of this financial measure, including the reasons why we use such financial measures and reconciliations of such financial measures to the nearest GAAP financial measures.

The following tables set forth key performance measures for the three month periods ended March 29, 2025 and March 30, 2024:

(dollar amounts in tables in millions)Three Months EndedVarianceMarch 29, 2025March 30, 2024$%Total revenue$210.5 $254.5 $(44.0)(17.3)%Adjusted EBITDA$38.4 $66.3 $(27.9)(42.1)%Adjusted EBITDA (% of revenue)18.2 %26.1 %(7.9)%

Total revenue decreased by $44.0 or 17.3% for the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024. The $47.5 of the decline is a decrease in organic revenue for the three month period ended March 29, 2025 as a result of the continuation of the volume decline associated with uncertainty in the macroeconomic environment and customer liquidity challenges, causing some customers to adjust project timing which started late in the second fiscal quarter of 2024. The organic decline was partially offset by $3.5 in inorganic revenue from the T.M.C. Acquisition, for the three month period ended March 29, 2025.

Adjusted EBITDA decreased by $27.9 or 42.1% for the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024, primarily due to decreased margin from the decrease in revenue, as noted above, and a decline from leverage on fixed costs, yielding a lower margin. 

Adjusted EBITDA as a percentage of revenue decreased 790bps for the three month period ended March 29, 2025. The decrease in Adjusted EBITDA in three month period ended March 29, 2025 was primarily due to decline in leverage on fixed costs.

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Factors Affecting the Results of Operations

Key Factors Affecting the Business and Financial Statements

Janus’s management believes our performance and future growth depends on a number of factors that present significant opportunities but also pose risks and challenges.

Factors Affecting Revenues

Janus’s revenues from products sold are driven by economic conditions,