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Stock impact report

JAKKS Pacific Reports First Quarter 2024 Financial Results

JAKKS Pacific, Inc. (JAKK) 
Last jakks pacific, inc. earnings: 2/19 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: jakks.com/investors
Company Research Source: GlobeNewswire
SANTA MONICA, Calif., April 24, 2024 (GLOBE NEWSWIRE) -- JAKKS Pacific, Inc. (NASDAQ: JAKK) today reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Net sales were $90.1 million, a year-over-year decrease of $17.4 million or 16%, driven by a lack of new film releases vs. prior yearGross margin of 23.4%, down 580 basis points vs. Q1 2023, led by higher inventory obsolescence expense, and retailer markdownsGross profit of $21.1 million, down $10.4 million compared to $31.4 million in Q1 2023Operating loss of $21.3 million, compared to an operating loss of $4.4 million in Q1 2023Adjusted net loss attributable to common stockholders (a non-GAAP measure) of $11.3 million (or $1.09 per diluted share), compared to an adjusted net loss attributable to common stockholders of $4.0 million (or $0.40 per diluted share) in Q1 2023Adjusted EBITDA (a non-GAAP measure) of $(17.2) million vs. $(1.1) million in Q1 2023 Management Commentary“The beginnin Show less Read more
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