Company: JBI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001839839-25-000141
Chunk: 16

Company: Janus International Group, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 7
Chunk 16
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 the three and six month periods ended June 28, 2025. 

36

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 six month periods ended June 28, 2025 compared to the three and six month periods ended June 29, 2024:

Three Months EndedVariance(dollar amounts in millions)June 28, 2025June 29, 2024$%REVENUESProduct revenues163.2 $195.4 $(32.2)(16.5)%Service revenues37.1 35.4 1.7 4.8 %Total revenues$200.3 $230.8 $(30.5)(13.2)%Product cost of revenues88.9 107.3 (18.4)(17.1)%Service cost of revenues26.1 19.4 6.7 34.5 %Cost of revenues$115.0 $126.7 $(11.7)(9.2)%GROSS PROFIT$85.3 $104.1 $(18.8)(18.1)%OPERATING EXPENSESSelling and marketing15.4 16.1 (0.7)(4.3)%General and administrative36.7 37.0 (0.3)(0.8)%Operating expenses$52.1 $53.1 $(1.0)(1.9)%INCOME FROM OPERATIONS$33.2 $51