Company: JBI
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015724
Chunk: 70

Company: Janus International Group, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 70
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, and other non-operational, non-recurring items. 44

TABLE OF CONTENTS

Adjusted EBITDA should not be considered in isolation of, or as an alternative to, measures prepared 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 items that Janus excludes in the calculation of these non-GAAP financial measures may differ from the expenses and other 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 table presents a reconciliation of net income to Adjusted EBITDA for the periods indicated:

| (dollar amounts in millions)                       |     |        Year Ended 
 December 28, 2024 |     |        Year Ended 
 December 30, 2023 |
|:---------------------------------------------------|:----|------------------:|:----|------------------:|
| Net Income                                         |     |             $70.4 |     |            $135.7 |
| Interest expense, net                              |     |              49.6 |     |              60.0 |
| Income taxes                                       |     |              29.9 |     |              47.1 |
| Depreciation                                       |     |              12.0 |     |               9.3 |
| Amortization                                       |     |              32.0 |     |              29.8 |
| EBITDA                                             |     |            $193.9 |     |            $281.9