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Stock impact report

JAKKS Pacific Reports First Quarter 2024 Financial Results [Yahoo! Finance]

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: Yahoo! Finance
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 year Gross margin of 23.4%, down 580 basis points vs. Q1 2023, led by higher inventory obsolescence expense, and retailer markdowns Gross profit of $21.1 million, down $10.4 million compared to $31.4 million in Q1 2023 Operating loss of $21.3 million, compared to an operating loss of $4.4 million in Q1 2023 Adjusted 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 2023 Adjusted EBITDA (a non-GAAP measure) of $(17.2) million vs. $(1.1) million in Q1 2023 Management Commentary “The beginning of the year at JAKKS is always our smallest shipping quarter and is focused on taking stock of the just concluded holiday season, solidifying our full-year Show less Read more
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