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

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 7
Chunk 10
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 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.

Revenues (Dollar amounts in table in millions)

Three Months EndedVarianceVariance BreakdownMarch 29, 2025March 30, 2024$%Acquisition RevenueOrganic GrowthOrganic Growth %Product revenues (1)$166.3 $215.1 $(48.8)(22.7)%$— $(48.8)(22.7)%Service revenues44.2 39.4 4.8 12.2 %3.5 $1.3 3.3 %Total$210.5 $254.5 $(44.0)(17.3)%$3.5 $(47.5)(18.7)%

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

Total revenue decreased by $44.0 or 17.3% for the three month period ended March 29, 2025 compared to the three month period ended March 30, 2024. The organic revenue decline for the three ended March 29, 2025, as a result of the continuation of the volume decline associated with uncertainty in the macroeconomic environment and customer liquidity challenges, causing some customers to adjust project timing which started late in the second fiscal quarter of 2024. The organic decline was partially offset by $3.5 in inorganic revenue from the T.M.C. Acquisition, for the period ended March 29, 2025.

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

(dollar amounts in table in millions)Three Months EndedVarianceConsolidatedMarch 29, 2025% of salesMarch 30, 2024% of sales$%Self-storage - new construction $86.9 41.3 %$116.6 45.8 %$(29.7)(25.5)%Self-storage - R357.0 27.1 %70.6 27.7 %(13.6)(19.3)%Total self-storage143.9 68.4 %