Company: JBI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001839839-25-000150
Chunk: 91

Company: Janus International Group, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 7
Chunk 91
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 accounts which resulted in interest income of $1.6 and $3.9 for the three and nine month periods ended September 27, 2025, respectively. (See “Liquidity and Capital Resources” section).

Income Taxes

Income tax expense increased by $2.8 or 84.8% from $3.3 for the three month period ended September 28, 2024 to $6.1 for the three months ended September 27, 2025. Income tax expense decreased by $6.2 or 26.6% from $23.3 for the nine month period ended September 28, 2024 to $17.1 for the nine month period ended September 27, 2025. The changes for both periods are primarily due to the change in income before taxes.

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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.

Gross profit and Adjusted EBITDA are the measures of profit and loss that our Chief Operating Decision Maker (“CODM”) uses to evaluate the financial performance of the business and as the basis for resource allocation, performance reviews and compensation. Adjusted EBITDA is defined as net income excluding interest expense, income taxes, depreciation, amortization, and other non-operational, non-recurring items. The CODM uses Adjusted EBITDA, a non-GAAP financial measure, as a primary performance metric to assess operating performance, develop future operating plans, and make strategic decisions related to operating expenses and resource allocation, among others. The segment discussion that follows describes the significant factors contributing to the changes in results for each segment included in net earnings.

Results of Operations - Janus North America

For the three and nine month periods ended September 27, 2025 compared to the three and nine month periods ended September 28, 2024

Three Months EndedVariance(dollar amounts in millions)September 27, 2025September 28, 2024$%REVENUESProduct revenues$159.5 $164.5 $(5.0)(3.0)%Service revenues32.3 44.6 (12.3)(27.6)%Total revenues$191.8 $209.1 $(17.3)(8.3)%Product cost of revenues93.1 93.9