JAKKS Pacific fourth quarter and full-year 2024 financial results
JAKKS Pacific reported financial results for the fourth quarter and fiscal year ended December 31, 2024
Fourth Quarter 2024
- Net sales were $130.7 million, a year-over-year increase of 3%
- Toys/Consumer Products net sales were $118.2 million, a year-over-year decrease of 1%
- Costumes net sales were $12.5 million, a year-over-year increase of 46%
- Gross margin of 27.2%, up 70 basis points vs. Q4 2023
- Gross profit of $35.6 million, up 5% compared to $33.7 million in Q4 2023
- Operating loss of $14.7 million in Q4 2024, an improvement of $0.6 million vs. a loss of $15.3 million in Q4 2023
- Net loss attributable to common stockholders of $9.1 million or $0.83 per diluted share, compared to net loss attributable to common stockholders of $11.3 million or $1.12 per diluted share in Q4 2023
- Adjusted net loss attributable to common stockholders (a non-GAAP measure) of $7.4 million or $0.67 per diluted share, compared to adjusted net loss attributable to common stockholders of $10.5 million or $1.04 per diluted share in Q4 2023
- Adjusted EBITDA (a non-GAAP measure) of $(10.2) million vs. $(10.9) million in Q4 2023, an improvement of $0.8 million
Full-Year 2024
- Net sales were $691.0 million compared to $711.6 million last year, a 3% decrease
- Toys/Consumer Products net sales were $570.0 million, a year-over-year decrease of 2%
- Costumes net sales were $121.0 million, a year-over-year decrease of 8%
- Gross margin of 30.8% compared to 31.4% last year
- Gross profit of $213.0 million, down 5% compared to $223.4 million last year
- Operating income of $39.7 million compared to $59.1 million last year; a 33% decrease
- Net income attributable to common stockholders of $35.3 million, down from a net income attributable to common stockholders of $36.9 million in 2023
- Adjusted net income attributable to common stockholders of $42.6 million ($3.79 per diluted share), down from adjusted net income attributable to common stockholders of $48.9 million ($4.62 per diluted share) in 2023
- Adjusted EBITDA of $59.3 million, down from $75.7 million in 2023
- Cash flows provided by operating activities of $38.9 million, down from $66.4 million in 2023
- Cash used in financing activities of $28.5 million, eliminating all preferred shareholders in the first half of 2024
- End of year cash and cash equivalents of $70.1 million, down from $72.6 million in 2023
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