Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 109

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 109
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 substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis.

33

Revenue

(dollar amounts in millions)Year EndedVarianceVariance BreakdownDecember 28, 2024December 30, 2023$%Acquisition RevenueOrganic GrowthOrganic Growth %Product revenues$779.4 $909.8 $(130.4)(14.3)%$— $(130.4)(14.3)%Service revenues184.4 156.6 27.8 17.8 %27.2 $0.6 0.4 %Total$963.8 $1,066.4 $(102.6)(9.6)%$27.2 $(129.8)(12.2)%

Total revenue declined $102.6 for the year ended December 28, 2024 compared to the year ended December 30, 2023. The organic revenue decline for the year ended December 28, 2024 is substantially attributed to a decline in volume associated with customer deferrals of projects based on macroeconomic uncertainty and the interest rate environment. The organic decline was partially offset by $27.2 in inorganic revenue from the T.M.C. Acquisition.

The following table and discussion compares Janus’s revenues by sales channel:

Year EndedYear EndedVariance(dollar amounts in millions)December 28, 2024% of revenuesDecember 30, 2023% of revenues$%New Construction - Self Storage$416.3 43.2 %$394.9 37.0 %$21.4 5.4 %R3 - Self Storage245.7 25.5 %334.9 31.4 %(89.2)(26.6)%Commercial and Other301.8 31.3 %336.6 31.6 %(34.8)(10.3)%Total$963.8 100.0 %$1,066.4 100.0 %$(102.6)(9.6)%

New construction revenues increased by $21.4 or 5.4% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The increase in the year ended December 28, 2024 is primarily due to elevated occupancy rates and continued demand in the first half of the year.

R3