Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 110

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 110
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 revenues decreased by $89.2 or 26.6% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The R3 sales decrease was due to project deferrals associated with macroeconomic uncertainty as well as an approximately 33% decline in facility expansion and retail big-box conversion activity.

Commercial and other revenues decreased by $34.8 or 10.3% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The decrease was attributable to a decline in volumes for rolling sheet doors in the carport and shed market, partially offset by $27.2 in inorganic revenue from the T.M.C. Acquisition.

Cost of Revenues 

Year EndedVarianceVariance Breakdown(dollar amounts in millions)December 28, 2024December 30, 2023$%Acquisition CostOrganic GrowthOrganic Growth %Product cost of revenues$442.3 $500.8 $(58.5)(11.7)%$— $(58.5)(11.7)%Service cost of revenues 123.7 115.9 7.86.7 %17.9 $(10.1)(8.7)%Cost of revenues$566.0 $616.7 $(50.7)(8.2)%$17.9 $(68.6)(11.1)%

The cost of revenues decreased $50.7 or 8.2% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The decrease in product cost of revenues of $58.5 for the year ended December 28, 2024 is primarily attributable to the decline in volume. The $7.8 increase in service cost of revenue is primarily attributable to the operational costs of T.M.C., that was acquired in the second quarter of fiscal year 2024.

Operating Expenses - Selling and marketing

Selling and marketing expense increased $2.6 or 4.0% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The increase is primarily the result of an increase in marketing and advertising expenses for strategic purposes. 

Operating Expenses - General and administrative

General and administrative expenses increased by $32.6 or 23.5% for the year ended December 28, 2024 compared to