Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 113

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 113
---
45.7)(10.7)%OPERATING EXPENSESelling and marketing63.6 62.2 1.4 2.3%General and administrative157.6 125.4 32.2 25.7%Impairment12.0 — 12.0 100.0%Operating Expenses$233.2 $187.6 $45.6 24.3%INCOME FROM OPERATIONS$146.6 $237.9 $(91.3)(38.4)%Adjusted EBITDA*$206.3 $275.8 $(69.5)(25.2)%

*Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis.

Revenue

(dollar amounts in millions)Year EndedVarianceVariance BreakdownDecember 28, 2024December 30, 2023$%Acquisition RevenueOrganic GrowthOrganic Growth %Product revenues(1)$738.6 $865.1 $(126.5)(14.6)%$— $(126.5)(14.6)%Service revenues154.0 120.6 33.4 27.7 %27.2 $6.2 5.1 %Total revenue$892.6 $985.7 $(93.1)(9.4)%$27.2 $(120.3)(12.2)%

(1) Product revenues include product revenues transferred at a point in time and product revenues transferred over time.

Total revenue declined $93.1 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 North America revenues by sales channel. 

(dollar amounts in millions)Year EndedVarianceDecember 28, 202