Company: JBI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001839839-25-000141
Chunk: 31

Company: Janus International Group, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 7
Chunk 31
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 in accordance with GAAP. There are a number of limitations related to the use of adjusted EBITDA rather than net income, which is the nearest GAAP equivalent of adjusted EBITDA. These limitations include that the non-GAAP financial measures:

•exclude depreciation and amortization, and although these are non-cash expenses, the assets being depreciated may be replaced in the future;

•do not reflect interest expense, or the cash requirements necessary to service interest on debt, which reduces cash available;

•do not reflect the provision for or benefit from income tax that may result in payments that reduce cash available;

•exclude non-recurring items which are unlikely to occur again and have not occurred before (e.g., the extinguishment of debt); and

•may not be comparable to similar non-GAAP financial measures used by other companies, because the expenses and other acquisition related and other non-recurring items that Janus excludes in the calculation of these non-GAAP financial measures may differ from the expenses and acquisition related and other non-recurring items, if any, that other companies may exclude from these non-GAAP financial measures when they report their operating results.

Because of these limitations, these non-GAAP financial measures should be considered along with other operating and financial performance measures presented in accordance with GAAP.

The following tables present a reconciliation of net income to adjusted EBITDA for the periods indicated:

Three Months EndedVariance(dollar amounts in millions)June 28, 2025June 29, 2024$%Net income $20.7 $27.6 $(6.9)(25.0)%Interest, net9.1 13.0 (3.9)(30.0)%Income taxes6.4 9.5 (3.1)(32.6)%Depreciation3.0 3.0 — — %Amortization8.2 8.0 0.2 2.5 %EBITDA*$47.4 $61.1 $(13.7)(22.4)%Restructuring charges (1)0.8 0.3 0.5 166.7 %Acquisition expense (2)0.8 1.4 (0.6)(42.9)%Loss on extinguishment and modification of debt (3)— 1.7 (1.7)(100.0)%Adjusted EBITDA*$49.0 $64.5