Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 13

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 7
Chunk 13
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 net income for the three month period ended March 29, 2025 as compared to the three month period ended March 30, 2024 is largely due to a decrease in revenues and increase in operating expenses partially offset by a decrease in cost of revenues for the three month period ended March 29, 2025. 

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Segment Results of Operations

We operate in and report financial results for two segments: Janus North America and Janus International with the following sales channels: self-storage - new construction, self-storage - R3, and commercial and other.

Segment operating income is the measure of profit and loss that our Chief Operating Decision Maker uses to evaluate the financial performance of the business and as the basis for resource allocation, performance reviews, and compensation. For these reasons, we believe that segment operating income represents the most relevant measure of segment profit and loss. Our Chief Operating Decision Maker may exclude certain charges or gains, such as corporate charges and other special charges, to arrive at a segment operating income that is a more meaningful measure of profit and loss upon which to base our operating decisions. We define segment operating margin as segment operating income as a percentage of the segment’s net revenues. The segment discussion that follows describes the significant factors contributing to the changes in results for each segment included in Results of Operations.

Results of Operations - Janus North America

For the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024:

(dollar amounts in tables in millions)Three Months EndedVarianceMarch 29, 2025March 30, 2024$%REVENUESProduct revenues$156.0 $206.9 $(50.9)(24.6)%Service revenues34.7 33.6 1.1 3.3 %Total revenues$190.7 $240.5 $(49.8)(20.7)%Product cost of revenues89.4 109.1 (19.7)(18.1)%Service cost of revenues23.9 24.4 (0.5)(2.0)%Cost of revenues$113.3 $133.5 $(20.2)(15.1)%GROSS PROFIT$77.4 $107.0 $(29.6)(27.7)%OPERATING EXPENSESSelling and marketing15.8 16.6 (0.8)(4.8)%General and administrative36.