Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 82

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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21.8)(16.3)%

The cost of revenues for the three month period ended March 29, 2025 decreased by $20.2 or 15.1%. The decrease of product cost of revenues of $19.7 for the three month period ended March 29, 2025 is in line with the decline in product revenues. The decrease in service cost of revenues of $0.5 for the three month period ended March 29, 2025 similar to the change in revenue with slight betterment in margin rate due to product mix with the acquisition of T.M.C.

Operating Expenses - Selling and marketing

Selling and marketing expenses decreased $0.8 or 4.8% for the three month period ended March 29, 2025. The decrease for the three month period is due to a decrease in employee related expenses as a result of a decline in revenue and implementation of our restructuring plan announced in fiscal 2024.

Operating Expenses - General and administrative

General and administrative expenses increased $2.3 or 6.7% for the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024. The increase for the three months is attributable to higher share-based compensation of $2.1 as a result of strategic grants to retain certain key employees and higher amortization expense of $0.9 as a result of the acquisition of T.M.C. These cost increases are partially offset by a reduction in costs as a result of the restructuring plan announced in fiscal 2024.

Income from Operations

Income from operations decreased by $31.1 or 55.3% for the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024 primarily due to a decrease in revenue yielding a decline in margin.

38

INTERNATIONAL

Results of Operations - Janus International - 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$%REVENUEProduct revenues$11.7 $8.9 $2.8 31.5 %Service revenues9.5 5.8 3.7 63.8 %Total revenues$21.2 $14.7 $6.5