JAKKS Pacific Reports Second Quarter 2022 Financial Results

Highest Q2 Net Sales and Operating Income in Company History

JAKKS Pacific, Inc. (NASDAQ: JAKK) today reported financial results for the second quarter ended June 30, 2022.

Second Quarter 2022 Overview

  • Net sales were $220.4 million, a year-over-year increase of 96.2%
    • Toys/Consumer Products were $148.9 million, a year-over-year increase of 82.6%
    • Costumes were $71.6 million, a year-over-year increase of 132.2%
  • Gross margin of 27.6%, down 77 basis points vs. Q2 2021
  • Operating income of $23.7 million (10.7% of net sales) vs. $1.8 million (1.6% of net sales) in Q2 2021
  • Net income attributable to common stockholders of $26.2 million or $2.61 per diluted share, compared to a net loss attributable to common stockholders of $15.4 million or $2.48 per share in Q2 2021
  • Adjusted net income attributable to common stockholders (a non-GAAP measure) of $21.1 million or $2.10 per diluted share, compared to an adjusted net loss attributable to common stockholders of $2.3 million or $0.38 per share in Q2 2021
  • Adjusted EBITDA (a non-GAAP measure) of $27.1 million, vs. $5.0 million in Q2 2021

Management Commentary

“Our past quarter’s results are extremely gratifying,” said Stephen Berman, CEO of JAKKS Pacific. “The teams collaborated and executed at the highest level – chasing exceptional demand for our product, and relentlessly engaging with our manufacturers, customers and vendors to set everyone up for a great back-part of the year. We’re excited to continue to delight our consumers with a tremendous offering across our toy, consumer product and Halloween ranges, both on-shelf and on-line, and in the US and internationally.

“During the quarter we continued to see solid consumer demand across most of our major toy businesses, especially with Disney’s Encanto™ and Sega’s Sonic the Hedgehog®. Our Costume business shipped over $71 million, the highest Q2 shipment level since Disguise joined JAKKS in 2008. Despite the continuation of supply-chain cost pressures, we nonetheless recorded our first profitable second quarter in 10 years. We have also accelerated our importation of product to support the second half of the year and mitigate our traffic at the ports during the peak season.

“We’re pleased to share that we utilized some of the proceeds of our recent results to make an optional $10 million pay-down against our long-term debt, mitigating some of the impact rising interest rates have on our cash interest expense.”

Second Quarter 2022 Results

Net sales for the second quarter of 2022 were $220.4 million up 96% versus $112.4 million last year. The Toys/Consumer Products segment sales were up 83% globally (92% North America; 38% International) and sales of Disguise costumes were up 132% compared to last year (>100% North America; >250% International).

Year-to-date Toys/Consumer Products sales were up 61% compared to 2021. Year-to-date the Costumes segment was up 134% compared to 2021.

Total shipments for the first-half of the year exceeded $300 million for the first time in the company’s history.

Trailing twelve months net income of $55.5 million, compared to a net loss of $18.0 million in the twelve months ended June 30, 2021. Trailing twelve months adjusted EBITDA of $75.7 million (9.9% of net sales) up 54% from $49.1 million (8.7% of net sales) in the trailing twelve months ended June 30, 2021.

Balance Sheet Highlights

The Company’s cash and cash equivalents (including restricted cash) totaled $62.3 million as of June 30, 2022 compared to $38.3 million as of June 30, 2021, and $45.3 million as of December 31, 2021.

Total debt was $84.9 million, compared to $129.3 million as of June 30, 2021, and $95.5 million as of December 31, 2021. Total debt includes the amount outstanding under the Company's term loan, net of unamortized discounts.

Working capital (not including cash) totaled $54.4 million, up from $7.5 million a year ago. Inventory was a meaningful driver of the increase, totaling $123.7 million, of which $36.3 million was in-transit to our distribution centers, compared to $60.6 million in total inventory as of June 30, 2021.

Use of Non-GAAP Financial Information

In addition to the preliminary results reported in accordance with U.S. GAAP included in this release, the Company has provided certain non-GAAP financial information including Adjusted EBITDA which is a non-GAAP metric that excludes various items that are detailed in the financial tables and accompanying footnotes reconciling GAAP to non-GAAP results contained in this release. Management believes that the presentation of these non-GAAP financial measures provides useful information to investors because the information may allow investors to better evaluate ongoing business performance and certain components of the Company’s results. In addition, the Company believes that the presentation of these financial measures enhances an investor’s ability to make period-to-period comparisons of the Company’s operating results. This information should be considered in addition to the results presented in accordance with GAAP, and should not be considered a substitute for the GAAP results. The Company has reconciled the non-GAAP financial information included in this release to the nearest GAAP measures. See the attached “Reconciliation of Non-GAAP Financial Information.” “Total liquidity” is calculated as cash and cash equivalents, plus availability under the Company’s $67.5 million revolving credit facility.

Conference Call Live Webcast

JAKKS Pacific, Inc. invites analysts, investors and media to listen to the teleconference scheduled for 5:00 p.m. ET / 2:00 p.m. PT on July 27, 2022. A live webcast of the call will be available on the “Investor Relations” page of the Company’s website at www.jakks.com/investors. To access the call by phone, please go to this link (registration link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at (www.jakks.com/investors).

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include: Creepy Crawlers®, Eyeclops®, Fly Wheel®, Perfectly Cute®, ReDo Skateboard Co.®, WeeeDo™, Xtreme Power®, Disguise®, Maui®, Moose Mountain®, Kids Only!®; a wide range of entertainment-inspired products featuring premier licensed properties; and C’est Moi®, a New Generation of Clean Beauty®. Through JAKKS Cares, the company’s commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).

Forward Looking Statements

This press release may contain “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS Pacific's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, or that the Recapitalization transaction or any future transactions will result in future growth or success of JAKKS. The “forward-looking statements” contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

 

 

 

 

 

2022

 

 

 

2021

 

 

 

2021

 

 

(In thousands)
Assets
Current assets:
Cash and cash equivalents

$

62,283

 

$

37,511

 

$

44,521

 

Restricted cash

 

-

 

 

830

 

 

811

 

Accounts receivable, net

 

164,020

 

 

107,898

 

 

147,394

 

Inventory

 

123,666

 

 

60,580

 

 

83,954

 

Prepaid expenses and other assets

 

14,519

 

 

32,495

 

 

10,877

 

Total current assets

 

364,488

 

 

239,314

 

 

287,557

 

 
Property and equipment

 

128,844

 

 

118,804

 

 

121,945

 

Less accumulated depreciation and amortization

 

112,601

 

 

104,147

 

 

108,796

 

Property and equipment, net

 

16,243

 

 

14,657

 

 

13,149

 

 
Operating lease right-of-use assets, net

 

24,584

 

 

20,688

 

 

16,950

 

Goodwill

 

35,083

 

 

35,083

 

 

35,083

 

Intangibles and other assets, net

 

3,239

 

 

5,389

 

 

4,308

 

Total assets

$

443,637

 

$

315,131

 

$

357,047

 

 
 
Liabilities, Preferred Stock and Stockholders' Equity
 
Current liabilities:
Accounts payable

$

86,660

 

$

49,206

 

$

50,237

 

Accounts payable - Meisheng (related party)

 

42,254

 

 

19,603

 

 

15,894

 

Accrued expenses

 

58,189

 

 

37,573

 

 

47,071

 

Reserve for sales returns and allowances

 

45,625

 

 

42,282

 

 

46,285

 

Income taxes payable

 

2,333

 

 

703

 

 

1,004

 

Short term operating lease liabilities

 

10,239

 

 

10,481

 

 

10,477

 

Short term debt, net

 

2,475

 

 

33,596

 

 

2,104

 

Total current liabilities

 

247,775

 

 

193,444

 

 

173,072

 

 
Long term operating lease liabilities

 

15,406

 

 

12,276

 

 

8,039

 

Debt, non-current portion, net

 

82,453

 

 

95,735

 

 

93,415

 

Preferred stock derivative liability

 

15,898

 

 

16,976

 

 

21,282

 

Income taxes payable

 

215

 

 

215

 

 

215

 

Deferred income taxes, net

 

51

 

 

123

 

 

51

 

Total liabilities

 

361,798

 

 

318,769

 

 

296,074

 

 
Preferred stock accrued dividends

 

3,771

 

 

2,397

 

 

3,074

 

 
Stockholders' equity:
Common stock, $.001 par value

 

10

 

 

7

 

 

10

 

Additional paid-in capital

 

273,625

 

 

241,405

 

 

272,941

 

Accumulated deficit

 

(180,680

)

 

(236,593

)

 

(203,431

)

Accumulated other comprehensive loss

 

(15,765

)

 

(12,124

)

 

(12,952

)

Total JAKKS Pacific, Inc. stockholders' equity

 

77,190

 

 

(7,305

)

 

56,568

 

Non-controlling interests

 

878

 

 

1,270

 

 

1,331

 

Total stockholders' equity

 

78,068

 

 

(6,035

)

 

57,899

 

Total liabilities, preferred stock and stockholders' equity

$

443,637

 

$

315,131

 

$

357,047

 

 
 

Supplemental Balance Sheet and Cash Flow Data (Unaudited)

June 30,

Key Balance Sheet Data:

 

2022

 

 

2021

 

 
Accounts receivable, net days of sales outstanding (DSO)

 

68

 

 

87

 

Inventory turnover (DSI)

 

71

 

 

69

 

 
Six Months Ended June 30,
Condensed Cash Flow Data:

 

2022

 

 

2021

 

(In thousands)
Cash flows provided by (used in) operating activities

$

36,549

 

$

(18,531

)

Cash flows used in investing activities

 

(5,274

)

 

(3,693

)

Cash flows used in financing activities and other

 

(14,324

)

 

(32,128

)

Increase/(decrease) in cash, cash equivalents and restricted cash

$

16,951

 

$

(54,352

)

 
Capital expenditures

$

(5,276

)

$

(3,725

)

 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

 

 

 

2022

 

 

 

2021

 

Δ (%)

 

 

2022

 

 

 

2021

 

 

Δ (%)

(In thousands, except per share data)

(In thousands, except per share data)

 
   
Net sales

$

220,422

 

$

112,352

 

96

%

$

341,303

 

 

$

196,195

 

 

74

%

Less: Cost of sales    
Cost of goods

 

121,850

 

 

61,489

 

98

 

 

193,908

 

 

 

105,538

 

 

84

 

Royalty expense

 

35,704

 

 

16,784

 

113

 

 

53,394

 

 

 

29,295

 

 

82

 

Amortization of tools and molds

 

1,978

 

 

2,182

 

(9

)

 

3,194

 

 

 

3,371

 

 

(5

)

Cost of sales

 

159,532

 

 

80,455

 

98

 

 

250,496

 

 

 

138,204

 

 

81

 

Gross profit

 

60,890

 

 

31,897

 

91

 

 

90,807

 

 

 

57,991

 

 

57

 

Direct selling expenses

 

6,838

 

 

6,286

 

9

 

 

11,740

 

 

 

13,088

 

 

(10

)

General and administrative expenses

 

29,514

 

 

23,193

 

27

 

 

54,667

 

 

 

44,604

 

 

23

 

Depreciation and amortization

 

578

 

 

597

 

(3

)

 

1,174

 

 

 

1,201

 

 

(2

)

Selling, general and administrative expenses

 

36,930

 

 

30,076

 

23

 

 

67,581

 

 

 

58,893

 

 

15

 

Intangibles impairment

 

300

 

 

-

 

nm

 

300

 

 

 

-

 

  nm
Income (loss) from operations

 

23,660

 

 

1,821

 

1,199

 

 

22,926

 

 

 

(902

)

  nm
Other income (expense):    
Other income (expense), net

 

183

 

 

72

 

154

 

 

269

 

 

 

127

 

 

112

 

Change in fair value of convertible senior notes

 

-

 

 

(3,797

)

(100

)

 

-

 

 

 

(12,844

)

 

(100

)

Change in fair value of preferred stock derivative liability

 

6,029

 

 

(1,539

)

nm

 

5,384

 

 

 

(8,914

)

  nm
Loss on debt extinguishment

 

-

 

 

(7,351

)

(100

)

 

-

 

 

 

(7,351

)

 

(100

)

Interest income

 

6

 

 

4

 

50

 

 

9

 

 

 

6

 

 

50

 

Interest expense

 

(2,337

)

 

(4,370

)

(47

)

 

(4,539

)

 

 

(9,245

)

 

(51

)

Income (loss) before provision for (benefit from) income taxes

 

27,541

 

 

(15,160

)

nm

 

24,049

 

 

 

(39,123

)

  nm
Provision for (benefit from) income taxes

 

1,334

 

 

(100

)

nm

 

1,751

 

 

 

(12

)

  nm
Net income (loss)

 

26,207

 

 

(15,060

)

nm

 

22,298

 

 

 

(39,111

)

  nm
Net income (loss) attributable to non-controlling interests

 

(353

)

 

24

 

nm

 

(453

)

 

 

59

 

  nm
Net income (loss) attributable to JAKKS Pacific, Inc.

$

26,560

 

$

(15,084

)

nm%

$

22,751

 

 

$

(39,170

)

  nm%
Net income (loss) attributable to common stockholders

$

26,209

 

$

(15,415

)

nm%

$

22,054

 

 

$

(39,827

)

  nm%
Earnings (loss) per share - basic

$

2.73

 

$

(2.48

)

$

2.30

 

 

$

(6.86

)

 
Shares used in earnings (loss) per share - basic

 

9,588

 

 

6,220

 

 

9,588

 

 

 

5,802

 

 
Earnings (loss) per share - diluted

$

2.61

 

$

(2.48

)

$

2.21

 

 

$

(6.86

)

 
Shares used in earnings (loss) per share - diluted

 

10,037

 

 

6,220

 

 

9,978

 

 

 

5,802

 

 
   
   

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

 

2021

 

Δ bps

 

 

2022

 

 

 

2021

 

 

Δ bps

Fav/(Unfav)

   

Fav/(Unfav)

Net sales

 

100.0

 

%

 

100.0

%

-

 

 

100.0

%

 

 

100.0

%

 

-

 

Less: Cost of sales    
Cost of goods

 

55.3

 

 

54.7

 

(55

)

 

56.8

 

 

 

53.7

 

 

(302

)

Royalty expense

 

16.2

 

 

15.0

 

(126

)

 

15.6

 

 

 

15.0

 

 

(71

)

Amortization of tools and molds

 

0.9

 

 

1.9

 

104

 

 

1.0

 

 

 

1.7

 

 

78

 

Cost of sales

 

72.4

 

 

71.6

 

(77

)

 

73.4

 

 

 

70.4

 

 

(295

)

Gross profit

 

27.6

 

 

28.4

 

(77

)

 

26.6

 

 

 

29.6

 

 

(295

)

Direct selling expenses

 

3.1

 

 

5.6

 

249

 

 

3.4

 

 

 

6.7

 

 

323

 

General and administrative expenses

 

13.4

 

 

20.7

 

725

 

 

16.1

 

 

 

22.7

 

 

672

 

Depreciation and amortization

 

0.3

 

 

0.5

 

27

 

 

0.3

 

 

 

0.6

 

 

27

 

Selling, general and administrative expenses

 

16.8

 

 

26.8

 

1,002

 

 

19.8

 

 

 

30.0

 

 

1,022

 

Intangibles impairment

 

0.1

 

 

-

 

nm

 

0.1

 

 

 

-

 

  nm
Income (loss) from operations

 

10.7

 

 

1.6

 

911

 

 

6.7

 

 

 

(0.4

)

  nm
Other income (expense):    
Other income (expense), net

 

0.1

 

 

0.1

 

 

-

 

 

 

-

 

 
Change in fair value of convertible senior notes

 

-

 

 

(3.4

)

 

-

 

 

 

(6.6

)

 
Change in fair value of preferred stock derivative liability

 

2.7

 

 

(1.4

)

 

1.6

 

 

 

(4.5

)

 
Loss on debt extinguishment

 

-

 

 

(6.5

)

 

-

 

 

 

(3.8

)

 
Interest income

 

-

 

 

-

 

 

-

 

 

 

-

 

 
Interest expense

 

(1.1

)

 

(3.9

)

 

(1.3

)

 

 

(4.7

)

 
Income (loss) before provision for (benefit from) income taxes

 

12.4

 

 

(13.5

)

 

7.0

 

 

 

(20.0

)

 
Provision for (benefit from) income taxes

 

0.6

 

 

(0.1

)

 

0.4

 

 

 

-

 

 
Net income (loss)

 

11.8

 

 

(13.4

)

 

6.6

 

 

 

(20.0

)

 
Net income (loss) attributable to non-controlling interests

 

(0.2

)

 

-

 

 

(0.1

)

 

 

-

 

 
Net income (loss) attributable to JAKKS Pacific, Inc.

 

12.0

 

%

 

(13.4

)%

 

6.7

%

 

 

(20.0

)%

 
Net income (loss) attributable to common stockholders

 

11.9

 

%

 

(13.7

)%

 

6.5

%

 

 

(20.3

)%

 

 

 

   

 

JAKKS Pacific, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Information (Unaudited)

Reconciliation of GAAP to Non-GAAP measures:

This press release and accompanying schedules provide certain information regarding Adjusted EBITDA and Adjusted Net Income (Loss), which may be considered non-GAAP financial measures under the rules of the Securities and Exchange Commission. The non-GAAP financial measures included in the press release are reconciled to the corresponding GAAP financial measures below, as required under the rules of the Securities and Exchange Commission regarding the use of non-GAAP financial measures. We define Adjusted EBITDA as income (loss) from operations before depreciation, amortization and adjusted for certain non-recurring and non-cash charges, such as reorganization expenses and restricted stock compensation expense. Net income (loss) is similarly adjusted and tax-effected to arrive at Adjusted Net Income (Loss). Adjusted EBITDA and Adjusted Net Income (Loss) are not recognized financial measures under GAAP, but we believe that they are useful in measuring our operating performance. We believe that the use of the non-GAAP financial measures enhances an overall understanding of the Company’s past financial performance, and provides useful information to the investor by comparing our performance across reporting periods on a consistent basis.

Investors should not consider these measures in isolation or as a substitute for net income, operating income, or any other measure for determining the Company’s operating performance that is calculated in accordance with GAAP. In addition, because these measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies.

Three Months Ended June 30,

 

 

 

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

 

2021

 

 

Δ ($)

 

 

 

 

2022

 

 

 

2021

 

 

Δ ($)

(In thousands, except per share data)   (In thousands, except per share data)  
EBITDA and Adjusted EBITDA        
Net income (loss)

$

26,207

 

 

$

(15,060

)

 

$

41,267

 

$

22,298

 

 

$

(39,111

)

 

$

61,409

 

Interest expense

 

2,337

 

 

 

4,370

 

 

 

(2,033

)

 

4,539

 

 

 

9,245

 

 

 

(4,706

)

Interest income

 

(6

)

 

 

(4

)

 

 

(2

)

 

(9

)

 

 

(6

)

 

 

(3

)

Provision for (benefit from) income taxes

 

1,334

 

 

 

(100

)

 

 

1,434

 

 

1,751

 

 

 

(12

)

 

 

1,763

 

Depreciation and amortization

 

2,556

 

 

 

2,779

 

 

 

(223

)

 

4,368

 

 

 

4,572

 

 

 

(204

)

EBITDA

 

32,428

 

 

 

(8,015

)

 

 

40,443

 

 

32,947

 

 

 

(25,312

)

 

 

58,259

 

Adjustments:        
Other (income) expense, net

 

(183

)

 

 

(72

)

 

 

(111

)

 

(269

)

 

 

(127

)

 

 

(142

)

Restricted stock compensation expense

 

1,155

 

 

 

383

 

 

 

772

 

 

2,025

 

 

 

765

 

 

 

1,260

 

Change in fair value of convertible senior notes

 

-

 

 

 

3,797

 

 

 

(3,797

)

 

-

 

 

 

12,844

 

 

 

(12,844

)

Change in fair value of preferred stock derivative liability

 

(6,029

)

 

 

1,539

 

 

 

(7,568

)

 

(5,384

)

 

 

8,914

 

 

 

(14,298

)

Employee Retention Credit/Gov't Employment Support

 

(249

)

 

 

-

 

 

 

(249

)

 

(249

)

 

 

(1,900

)

 

 

1,651

 

Loss on debt extinguishment

 

-

 

 

 

7,351

 

 

 

(7,351

)

 

-

 

 

 

7,351

 

 

 

(7,351

)

Adjusted EBITDA

$

27,122

 

 

$

4,983

 

 

$

22,139

 

$

29,070

 

 

$

2,535

 

 

$

26,535

 

Adjusted EBITDA/Net sales %

 

12.3

%

 

 

4.4

%

 

 

787

 

bps

 

8.5

%

 

 

1.3

%

 

 

723

 

bps
         
TTM EBITDA and TTM Adjusted EBITDA        
TTM Net income (loss)

$

55,521

 

 

$

(17,989

)

 

$

73,510

 

   
Interest expense

 

9,398

 

 

 

19,717

 

 

 

(10,319

)

   
Interest income

 

(16

)

 

 

(11

)

 

 

(5

)

   
Provision for income taxes

 

1,989

 

 

 

175

 

 

 

1,814

 

   
Depreciation and amortization

 

10,047

 

 

 

11,047

 

 

 

(1,000

)

   
TTM EBITDA

 

76,939

 

 

 

12,939

 

 

 

64,000

 

   
Adjustments:        
Other (income) expense, net

 

(588

)

 

 

(374

)

 

 

(214

)

   
Restricted stock compensation expense

 

3,353

 

 

 

2,102

 

 

 

1,251

 

   
Change in fair value of convertible senior notes

 

3,575

 

 

 

15,057

 

 

 

(11,482

)

   
Change in fair value of preferred stock derivative liability

 

(1,078

)

 

 

13,812

 

 

 

(14,890

)

   
Employee Retention Credit/Gov't Employment Support

 

(249

)

 

 

(1,900

)

 

 

1,651

 

   
Gain on loan forgiveness

 

(6,206

)

 

 

-

 

 

 

(6,206

)

   
Loss on debt extinguishment

 

-

 

 

 

7,351

 

 

 

(7,351

)

   
Pandemic related charges

 

-

 

 

 

145

 

 

 

(145

)

   
TTM Adjusted EBITDA

$

75,746

 

 

 

49,132

 

 

$

26,614

 

54

%

   
TTM Adjusted EBITDA/TTM Net sales %

 

9.9

%

 

 

8.7

%

 

 

122

 

bps    
         
Adjusted net income (loss) attributable to common stockholders        
Net income (loss) attributable to common stockholders

$

26,209

 

 

$

(15,415

)

 

$

41,624

 

$

22,054

 

 

$

(39,827

)

 

$

61,881

 

Restricted stock compensation expense

 

1,155

 

 

 

383

 

 

 

772

 

 

2,025

 

 

 

765

 

 

 

1,260

 

Change in fair value of convertible senior notes

 

-

 

 

 

3,797

 

 

 

(3,797

)

 

-

 

 

 

12,844

 

 

 

(12,844

)

Change in fair value of preferred stock derivative liability

 

(6,029

)

 

 

1,539

 

 

 

(7,568

)

 

(5,384

)

 

 

8,914

 

 

 

(14,298

)

Employee Retention Credit/Gov't Employment Support

 

(249

)

 

 

-

 

 

 

(249

)

 

(249

)

 

 

(1,900

)

 

 

1,651

 

Loss on debt extinguishment

 

-

 

 

 

7,351

 

 

 

(7,351

)

 

-

 

 

 

7,351

 

 

 

(7,351

)

Tax impact of additional charges

 

-

 

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

 

-

 

Adjusted net income (loss) attributable to common stockholders

$

21,086

 

 

$

(2,345

)

 

$

23,431

 

$

18,446

 

 

$

(11,853

)

 

$

30,299

 

Adjusted earnings (loss) per share - basic

$

2.20

 

 

$

(0.38

)

 

$

2.58

 

$

1.92

 

 

$

(2.04

)

 

$

3.96

 

Shares used in adjusted earnings (loss) per share - basic

 

9,588

 

 

 

6,220

 

 

 

3,368

 

 

9,588

 

 

 

5,802

 

 

 

3,786

 

Adjusted earnings (loss) per share - diluted

$

2.10

 

 

$

(0.38

)

 

$

2.48

 

$

1.85

 

 

$

(2.04

)

 

$

3.89

 

Shares used in adjusted earnings (loss) per share - diluted

 

10,037

 

��

 

6,220

 

 

 

3,817

 

 

9,978

 

 

 

5,802

 

 

 

4,176

 

JAKKS Pacific, Inc. and Subsidiaries
Net Sales by Division and Geographic Region
 
 
 
(In thousands) QTD Q2 (In thousands) YTD Q2
Divisions

 

2022

 

2021

 

2020

% Change

2022 v 2021



% Change

2021 v 2020

Divisions

 

2022

 

2021

 

2020

% Change

2022 v 2021



% Change

2021 v 2020

Toys/Consumer Products

$

148,860

$

81,538

$

56,214

82.6

%

45.0

%

Toys/Consumer Products

$

259,983

$

161,413

$

118,779

61.1

%

35.9

%

Dolls, Role-Play/Dress Up

 

102,186

 

49,278

 

32,821

107.4

%

50.1

%

Dolls, Role-Play/Dress Up

 

164,192

 

94,433

 

72,895

73.9

%

29.5

%

Action Play & Collectibles

 

37,170

 

19,622

 

10,699

89.4

%

83.4

%

Action Play & Collectibles

 

68,868

 

36,027

 

20,353

91.2

%

77.0

%

Outdoor/Seasonal Toys

 

9,504

 

12,638

 

12,694

-24.8

%

-0.4

%

Outdoor/Seasonal Toys

 

26,923

 

30,953

 

25,531

-13.0

%

21.2

%

Costumes

 

71,562

 

30,814

 

22,544

132.2

%

36.7

%

Costumes

 

81,320

 

34,782

 

26,536

133.8

%

31.1

%

Total

$

220,422

$

112,352

$

78,758

96.2

%

42.7

%

Total

$

341,303

$

196,195

$

145,315

74.0

%

35.0

%

 
 
 
(In thousands) QTD Q2 (In thousands) YTD Q2
Regions

 

2022

 

2021

 

2020

% Change

2022 v 2021



% Change

2021 v 2020

Regions

 

2022

 

2021

 

2020

% Change

2022 v 2021



% Change

2021 v 2020

United States

$

192,484

$

95,265

$

66,777

102.1

%

42.7

%

United States

$

289,534

$

164,181

$

118,695

76.4

%

38.3

%

Europe

 

14,447

 

9,930

 

5,761

45.5

%

72.4

%

Europe

 

27,836

 

17,267

 

13,379

61.2

%

29.1

%

Canada

 

5,537

 

2,208

 

2,684

150.8

%

-17.7

%

Canada

 

8,916

 

4,309

 

5,032

106.9

%

-14.4

%

Latin America

 

3,823

 

1,165

 

1,082

228.2

%

7.7

%

Latin America

 

6,208

 

3,620

 

2,082

71.5

%

73.9

%

Asia

 

2,363

 

2,164

 

1,462

9.2

%

48.0

%

Asia

 

4,439

 

3,579

 

3,232

24.0

%

10.7

%

Australia & New Zealand

 

1,582

 

1,249

 

802

26.7

%

55.7

%

Australia & New Zealand

 

3,073

 

2,437

 

2,333

26.1

%

4.5

%

Middle East & Africa

 

186

 

371

 

190

-49.9

%

95.3

%

Middle East & Africa

 

1,297

 

802

 

562

61.7

%

42.7

%

Total

$

220,422

$

112,352

$

78,758

96.2

%

42.7

%

Total

$

341,303

$

196,195

$

145,315

74.0

%

35.0

%

 
 
(In thousands) QTD Q2 (In thousands) YTD Q2
Regions

 

2022

 

2021

 

2020

% Change

2022 v 2021



% Change

2021 v 2020

Regions

 

2022

 

2021

 

2020

% Change

2022 v 2021



% Change

2021 v 2020

North America

$

198,021

$

97,473

$

69,461

103.2

%

40.3

%

North America

$

298,450

$

168,490

$

123,727

77.1

%

36.2

%

International

 

22,401

 

14,879

 

9,297

50.6

%

60.0

%

International

 

42,853

 

27,705

 

21,588

54.7

%

28.3

%

Total

$

220,422

$

112,352

$

78,758

96.2

%

42.7

%

Total

$

341,303

$

196,195

$

145,315

74.0

%

35.0

%

 

 

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