Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 81

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 acquisition for the three month period ended March 29, 2025.

37

The following tables and discussion compares Janus North America sales by sales channel.

(dollar amounts in millions)Three Months EndedVarianceMarch 29, 2025% of Total SalesMarch 30, 2024% of Total Sales$%Self-storage - new construction $67.0 35.1 %$104.2 43.3 %$(37.2)(35.7)%Self-storage - R355.7 29.2 %68.3 28.4 %(12.6)(18.4)%Total self-storage122.7 64.3 %172.5 71.7 %(49.8)(28.9)%Commercial and other68.0 35.7 %68.0 28.3 %— — %Total$190.7 100.0 %$240.5 100.0 %$(49.8)(20.7)%

New construction sales decreased by $37.2 or 35.7% for the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024. The decrease was due to declines in volume associated with macroeconomic uncertainty and sustained high interest rates impacting liquidity, causing some customers to adjust project timing beginning late in the second fiscal quarter of 2024.

R3 sales decreased by $12.6 or 18.4% for the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024. The R3 sales decrease was due to a nearly 50% decline in facility expansion and retail big-box conversion activity.

Cost of Revenues 

(dollar amounts in tables in millions)Three Months EndedVarianceVariance BreakdownMarch 29, 2025March 30, 2024$%Acquisition CostOrganic GrowthOrganic Growth %Product cost of revenues$89.4 $109.1 $(19.7)(18.1)%$— $(19.7)(18.1)%Service cost of revenues23.9 24.4 (0.5)(2.0)%1.6 (2.1)(8.6)%Cost of revenues$113.3 $133.5 $(20.2)(15.1)%$1.6 $(