Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 116

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 116
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 $91.3 or 38.4% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The decrease is primarily due to a decline in sales volume and fixed cost leverage, the intangible asset impairment charge and the increase in general and administrative expenses.

Adjusted EBITDA

Adjusted EBITDA decreased by $69.5 or 25.2% for the year ended December 28, 2024 compared to the year ended December 30, 2023, primarily due to a decrease in revenue yielding a decline in gross profit of $45.7 with an increase in general and administrative costs largely attributed to the provision of expected credit losses reserves of $15.7. 

37

Results of Operations - Janus International

For the year ended December 28, 2024 compared to the year ended December 30, 2023

(dollar amounts in millions)Year EndedVarianceDecember 28, 2024December 30, 2023$%REVENUEProduct revenues$43.2 $46.3 $(3.1)(6.7)%                Services revenues30.4 36.0 (5.6)(15.6)%Total revenue$73.6 $82.3 $(8.7)(10.6)%Product cost of revenues33.3 31.7 1.6 5.0 %Service cost of revenues22.3 26.4 (4.1)(15.5)%Cost of revenues$55.6 $58.1 $(2.5)(4.3)%GROSS PROFIT$18.0 $24.2 $(6.2)(25.6)%OPERATING EXPENSESelling and marketing4.5 3.3 1.2 36.4 %General and administrative13.5 13.1 0.4 3.1 %Operating Expenses$18.0 $16.4 $1.6 9.8 %INCOME FROM OPERATIONS$— $7.8 $(7.8)(100.0)%Adjusted EBITDA*$2.2 $9.8 $(7.6)(77.6)%

*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