Jakks Pacific Reports Fourth Quarter and Full-Year 2023 Financial Results
Full-year Gross Profit Dollars up 6% vs. 2022; Third Consecutive Annual Increase
Santa Monica, CA — Jakks Pacific reported financial results for the fourth quarter ended December 31, 2023.
Fourth Quarter 2023
- Net sales were $127.4 million, a year-over-year decrease of 3%
- Gross margin of 26.5%, up 480 basis points vs. Q4 2022, led by improved landed product cost and reduced inventory obsolescence expense
- Gross profit of $33.7 million, up 18% compared to $28.6 million in Q4 2022
- Net loss attributable to common stockholders of $11.3 million (or $1.12 per diluted share), compared to net income attributable to common stockholders of $37.6 million or ($3.66 per diluted share) in Q4 2022
- Adjusted net loss attributable to common stockholders (a non-GAAP measure) of $10.5 million (or $1.04 per diluted share), compared to adjusted net loss attributable to common stockholders of $13.9 million (or $1.42 per diluted share) in Q4 2022
- Adjusted EBITDA (a non-GAAP measure) of $(10.9) million vs. $(12.1) million in Q4 2022
- Net sales were $711.6 million compared to $796.2 million last year, an 11% decrease
- Gross margin of 31.4% compared to 26.5% last year
- Gross profit of $223.4 million, up 6% compared to $211.3 million last year, and the highest dollar level since 2015
- Operating income of $59.1 million compared to $61.0 million last year; a 3% decrease
- Net income attributable to common stockholders of $36.9 million, down from a net income attributable to common stockholders of $90.0 million in 2022
- Adjusted net income attributable to common stockholders of $48.9 million ($4.62 per diluted share), up from adjusted net income attributable to common stockholders of $43.6 million ($4.29 per diluted share) in 2022
- Adjusted EBITDA of $75.7 million, down 1% versus $76.4 million in 2022
- Cash flows provided by operating activities of $66.4 million, down from $86.1 million in 2022
- Cash used in financing activities of $70.4 million, eliminating all long-term debt in the first half of 2023
- End of year cash and cash equivalents of $72.6 million, down from $85.5 million in 2022
Management Commentary
“For the third consecutive year we have met or exceeded our key financial full-year targets,” said Stephen Berman, CEO of JAKKS Pacific. “The year began with the challenge of revenue comparisons with a 2022 hit-driven blockbuster product line, but we also saw opportunities for gross margin improvements with a normalized supply chain. Gross and operating margins improved year-over-year despite a $80+ million decline in Net Sales, generating over $66 million in operating cash flow for the year.
“The holiday toy season came late this year, but we were pleased with the results. Two of our top three US Toys/Consumer Products customers achieved positive year-over-year retail sales results in Q4 despite challenging comparisons from the prior year. Our aggregate end-of-year inventory at retail at those three accounts is also down by a high single digit percentage compared to last year. Although customers are tentatively moving into the new year, we believe our core businesses remain on solid footing.”
Fourth Quarter and Full-Year 2023 Results
Net sales for the fourth quarter of 2023 were $127.4 million, down 3% versus $131.9 million last year. The Toys/Consumer Products segment sales were up 1% globally (flat in North America; 7% International) and sales of Costumes were down 40% compared to last year (-54% North America; -20% International).
Full-year Toys/Consumer Products sales were down 10% compared to 2022. The Costumes segment was down 12% vs. 2022, as customers continue to recalibrate to post-COVID levels. Our 2023 Costumes performance was nonetheless 22% higher than 2021.
Balance Sheet Highlights
The Company’s cash and cash equivalents (including restricted cash) totaled $72.6 million as of December 31, 2023, compared to $85.5 million as of December 31, 2022.
Total debt was zero, compared to $67.2 million as of December 31, 2022. Total debt as of December 31, 2022, included the amount outstanding under the Company’s term loan, net of unamortized discounts and issuance costs.
Inventory was $52.6 million, compared to $80.6 million as of December 31, 2022, a reduction of 35%.
| JAKKS Pacific, Inc. and Subsidiaries | |||||||||||||
| Condensed Consolidated Balance Sheets (Unaudited) | |||||||||||||
| December 31, | |||||||||||||
| 2023 | 2022 | ||||||||||||
| (In thousands) | |||||||||||||
| Assets | |||||||||||||
| Current assets: | |||||||||||||
| Cash and cash equivalents | $ | 72,350 | $ | 85,297 | |||||||||
| Restricted cash | 204 | 193 | |||||||||||
| Accounts receivable, net | 123,797 | 102,771 | |||||||||||
| Inventory | 52,647 | 80,619 | |||||||||||
| Prepaid expenses and other assets | 6,374 | 6,331 | |||||||||||
| Total current assets | 255,372 | 275,211 | |||||||||||
| Property and equipment | 135,956 | 130,437 | |||||||||||
| Less accumulated depreciation and amortization | 121,357 | 115,575 | |||||||||||
| Property and equipment, net | 14,599 | 14,862 | |||||||||||
| Operating lease right-of-use assets, net | 23,592 | 19,913 | |||||||||||
| Deferred income tax assets, net | 68,143 | 57,804 | |||||||||||
| Goodwill | 35,083 | 35,083 | |||||||||||
| Intangibles and other assets, net | 2,162 | 2,469 | |||||||||||
| Total assets | $ | 398,951 | $ | 405,342 | |||||||||
| Liabilities, Preferred Stock and Stockholders’ Equity | |||||||||||||
| Current liabilities: | |||||||||||||
| Accounts payable | $ | 42,177 | $ | 33,687 | |||||||||
| Accounts payable – Meisheng (related party) | 12,259 | 9,820 | |||||||||||
| Accrued expenses | 45,102 | 37,998 | |||||||||||
| Reserve for sales returns and allowances | 38,531 | 51,877 | |||||||||||
| Income taxes payable | 3,785 | 8,165 | |||||||||||
| Short term operating lease liabilities | 7,380 | 10,746 | |||||||||||
| Short term debt, net | – | 25,529 | |||||||||||
| Total current liabilities | 149,234 | 177,822 | |||||||||||
| Long term operating lease liabilities | 16,666 | 9,863 | |||||||||||
| Accrued expenses – long term | 3,746 | – | |||||||||||
| Debt, non-current portion, net | – | 41,622 | |||||||||||
| Preferred stock derivative liability | 29,947 | 21,918 | |||||||||||
| Income taxes payable | 3,245 | 2,929 | |||||||||||
| Deferred income tax liabilities, net | – | – | |||||||||||
| Total liabilities | 202,838 | 254,154 | |||||||||||
| Preferred stock accrued dividends | 5,992 | 4,490 | |||||||||||
| Stockholders’ equity: | |||||||||||||
| Common stock, $.001 par value | 10 | 10 | |||||||||||
| Additional paid-in capital | 278,642 | 275,187 | |||||||||||
| Accumulated deficit | (73,612 | ) | (112,018 | ) | |||||||||
| Accumulated other comprehensive loss | (15,627 | ) | (17,482 | ) | |||||||||
| Total JAKKS Pacific, Inc. stockholders’ equity | 189,413 | 145,697 | |||||||||||
| Non-controlling interests | 708 | 1,001 | |||||||||||
| Total stockholders’ equity | 190,121 | 146,698 | |||||||||||
| Total liabilities, preferred stock and stockholders’ equity | $ | 398,951 | $ | 405,342 | |||||||||
| Supplemental Balance Sheet and Cash Flow Data (Unaudited) | |||||||||||||
| December 31, | |||||||||||||
| Key Balance Sheet Data: | 2023 | 2022 | |||||||||||
| Accounts receivable days sales outstanding (DSO) | 89 | 72 | |||||||||||
| Inventory turnover (DSI) | 52 | 72 | |||||||||||
| Twelve Months Ended December 31, |
|||||||||||||
| Condensed Cash Flow Data: | 2023 | 2022 | |||||||||||
| Cash flows provided by operating activities | $ | 66,404 | $ | 86,099 | |||||||||
| Cash flows used in investing activities | (8,907 | ) | (10,387 | ) | |||||||||
| Cash flows used in financing activities and other | (70,433 | ) | (35,554 | ) | |||||||||
| Increase (Decrease) in cash, cash equivalents and restricted cash | $ | (12,936 | ) | $ | 40,158 | ||||||||
| Capital expenditures | $ | (8,906 | ) | $ | (10,389 | ) | |||||||
| JAKKS Pacific, Inc. and Subsidiaries | |||||||||||||||||||||||||
| Condensed Consolidated Statements of Operations (Unaudited) | |||||||||||||||||||||||||
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
||||||||||||||||||||||||
| 2023 | 2022 | Δ (%) | 2023 | 2022 | Δ (%) | ||||||||||||||||||||
| (In thousands, except per share data) | (In thousands, except per share data) | ||||||||||||||||||||||||
| Net sales | $ | 127,396 | $ | 131,886 | (3 | )% | $ | 711,557 | $ | 796,187 | (11 | )% | |||||||||||||
| Less: Cost of sales | |||||||||||||||||||||||||
| Cost of goods | 68,866 | 81,355 | (15 | ) | 362,378 | 449,597 | (19 | ) | |||||||||||||||||
| Royalty expense | 22,533 | 20,371 | 11 | 117,607 | 126,633 | (7 | ) | ||||||||||||||||||
| Amortization of tools and molds | 2,264 | 1,592 | 42 | 8,219 | 8,671 | (5 | ) | ||||||||||||||||||
| Cost of sales | 93,663 | 103,318 | (9 | ) | 488,204 | 584,901 | (17 | ) | |||||||||||||||||
| Gross profit | 33,733 | 28,568 | 18 | 223,353 | 211,286 | 6 | |||||||||||||||||||
| Direct selling expenses | 14,582 | 13,153 | 11 | 36,987 | 33,290 | 11 | |||||||||||||||||||
| General and administrative expenses | 34,401 | 30,752 | 12 | 126,893 | 114,819 | 11 | |||||||||||||||||||
| Depreciation and amortization | 90 | 360 | (75 | ) | 366 | 1,907 | (81 | ) | |||||||||||||||||
| Selling, general and administrative expenses | 49,073 | 44,265 | 11 | 164,246 | 150,016 | 9 | |||||||||||||||||||
| Intangibles impairment | – | – | – | – | 300 | nm | |||||||||||||||||||
| Income from operations | (15,340 | ) | (15,697 | ) | (2 | ) | 59,107 | 60,970 | (3 | ) | |||||||||||||||
| Other income (expense): | |||||||||||||||||||||||||
| Loss from joint ventures | – | – | – | (565 | ) | – | nm | ||||||||||||||||||
| Other income (expense), net | 139 | 277 | (50 | ) | 563 | 797 | (29 | ) | |||||||||||||||||
| Change in fair value of preferred stock derivative liability | (1,361 | ) | 1,429 | nm | (8,029 | ) | (636 | ) | nm | ||||||||||||||||
| Loss on debt extinguishment | – | – | – | (1,023 | ) | – | nm | ||||||||||||||||||
| Interest income | 757 | 63 | nm | 1,344 | 127 | nm | |||||||||||||||||||
| Interest expense | (710 | ) | (2,294 | ) | (69 | ) | (6,451 | ) | (11,183 | ) | (42 | ) | |||||||||||||
| Income (loss) before provision for (benefit from) income taxes | (16,515 | ) | (16,222 | ) | 2 | 44,946 | 50,075 | (10 | ) | ||||||||||||||||
| Provision for (benefit from) income taxes | (5,643 | ) | (54,331 | ) | (90 | ) | 6,833 | (41,008 | ) | nm | |||||||||||||||
| Net income (loss) | (10,872 | ) | 38,109 | nm | 38,113 | 91,083 | (58 | ) | |||||||||||||||||
| Net income (loss) loss attributable to non-controlling interests | (4 | ) | 140 | nm | (293 | ) | (330 | ) | (11 | ) | |||||||||||||||
| Net income (loss) attributable to JAKKS Pacific, Inc. | $ | (10,868 | ) | $ | 37,969 | nm | % | $ | 38,406 | $ | 91,413 | (58 | )% | ||||||||||||
| Net income (loss) attributable to common stockholders | $ | (11,252 | ) | $ | 37,607 | nm | % | $ | 36,904 | $ | 89,997 | (59 | )% | ||||||||||||
| Earnings (loss) per share – basic | $ | (1.12 | ) | $ | 3.86 | $ | 3.70 | $ | 9.33 | ||||||||||||||||
| Shares used in earnings (loss) per share – basic | 10,084 | 9,732 | 9,962 | 9,651 | |||||||||||||||||||||
| Earnings (loss) per share – diluted | $ | (1.12 | ) | $ | 3.66 | $ | 3.48 | $ | 8.86 | ||||||||||||||||
| Shares used in earnings (loss) per share – diluted | 10,084 | 10,263 | 10,590 | 10,155 | |||||||||||||||||||||
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
||||||||||||||||||||||||
| 2023 | 2022 | Δ bps | 2023 | 2022 | Δ bps | ||||||||||||||||||||
| Fav/(Unfav) | Fav/(Unfav) | ||||||||||||||||||||||||
| Net sales | 100.0 | % | 100.0 | % | – | 100.0 | % | 100.0 | % | – | |||||||||||||||
| Less: Cost of sales | |||||||||||||||||||||||||
| Cost of goods | 54.0 | 61.7 | 770 | 50.9 | 56.5 | 560 | |||||||||||||||||||
| Royalty expense | 17.7 | 15.4 | (230 | ) | 16.5 | 15.9 | (60 | ) | |||||||||||||||||
| Amortization of tools and molds | 1.8 | 1.2 | (60 | ) | 1.2 | 1.1 | (10 | ) | |||||||||||||||||
| Cost of sales | 73.5 | 78.3 | 480 | 68.6 | 73.5 | 490 | |||||||||||||||||||
| Gross profit | 26.5 | 21.7 | 480 | 31.4 | 26.5 | 490 | |||||||||||||||||||
| Direct selling expenses | 11.4 | 10.0 | (140 | ) | 5.2 | 4.2 | (100 | ) | |||||||||||||||||
| General and administrative expenses | 27.0 | 23.3 | (370 | ) | 17.8 | 14.4 | (340 | ) | |||||||||||||||||
| Depreciation and amortization | 0.1 | 0.3 | 20 | 0.1 | 0.2 | 10 | |||||||||||||||||||
| Selling, general and administrative expenses | 38.5 | 33.6 | (490 | ) | 23.1 | 18.8 | (430 | ) | |||||||||||||||||
| Intangibles impairment | – | – | – | – | – | – | |||||||||||||||||||
| Income from operations | (12.0 | ) | (11.9 | ) | (10 | ) | 8.3 | 7.7 | 60 | ||||||||||||||||
| Other income (expense): | |||||||||||||||||||||||||
| Loss from joint ventures | – | – | (0.1 | ) | – | ||||||||||||||||||||
| Other income (expense), net | 0.1 | 0.2 | 0.1 | 0.1 | |||||||||||||||||||||
| Change in fair value of preferred stock derivative liability | (1.1 | ) | 1.1 | (1.1 | ) | (0.1 | ) | ||||||||||||||||||
| Loss on debt extinguishment | – | – | (0.1 | ) | – | ||||||||||||||||||||
| Interest income | 0.6 | – | 0.2 | – | |||||||||||||||||||||
| Interest expense | (0.6 | ) | (1.7 | ) | (0.9 | ) | (1.4 | ) | |||||||||||||||||
| Income (loss) before provision for (benefit from) income taxes | (13.0 | ) | (12.3 | ) | 6.4 | 6.3 | |||||||||||||||||||
| Provision for (benefit from) income taxes | (4.5 | ) | (41.2 | ) | 1.0 | (5.2 | ) | ||||||||||||||||||
| Net income (loss) | (8.5 | ) | 28.9 | 5.4 | 11.5 | ||||||||||||||||||||
| Net income (loss) loss attributable to non-controlling interests | – | 0.1 | – | – | |||||||||||||||||||||
| Net income (loss) attributable to JAKKS Pacific, Inc. | (8.5 | )% | 28.8 | % | 5.4 | % | 11.5 | % | |||||||||||||||||
| Net income (loss) attributable to common stockholders | (8.8 | )% | 28.5 | % | 5.2 | % | 11.3 | % | |||||||||||||||||
| JAKKS Pacific, Inc. and Subsidiaries |
| Reconciliation of Non-GAAP Financial Information (Unaudited) |
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||||||||||||||
| 2023 | 2022 | Δ ($) | 2023 | 2022 | Δ ($) | |||||||||||||||||||||
| (In thousands) | (In thousands) | |||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA | ||||||||||||||||||||||||||
| Net income | $ | (10,872 | ) | $ | 38,109 | $ | (48,981 | ) | $ | 38,113 | $ | 91,083 | $ | (52,970 | ) | |||||||||||
| Interest expense | 710 | 2,294 | (1,584 | ) | 6,451 | 11,183 | (4,732 | ) | ||||||||||||||||||
| Interest income | (757 | ) | (63 | ) | (694 | ) | (1,344 | ) | (127 | ) | (1,217 | ) | ||||||||||||||
| Provision for income taxes | (5,643 | ) | (54,331 | ) | 48,688 | 6,833 | (41,008 | ) | 47,841 | |||||||||||||||||
| Depreciation and amortization | 2,354 | 1,952 | 402 | 10,336 | 10,578 | (242 | ) | |||||||||||||||||||
| EBITDA | (14,208 | ) | (12,039 | ) | (2,169 | ) | 60,389 | 71,709 | (11,320 | ) | ||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||||
| Loss from joint ventures (JAKKS Pacific, Inc. – 51%) | – | – | – | 276 | – | 276 | ||||||||||||||||||||
| Loss from joint ventures (Meisheng – 49%) | – | – | – | 289 | – | 289 | ||||||||||||||||||||
| Other (income) expense, net | (139 | ) | (277 | ) | 138 | (563 | ) | (797 | ) | 234 | ||||||||||||||||
| Restricted stock compensation expense | 2,057 | 1,646 | 411 | 8,027 | 5,082 | 2,945 | ||||||||||||||||||||
| Change in fair value of preferred stock derivative liability | 1,361 | (1,429 | ) | 2,790 | 8,029 | 636 | 7,393 | |||||||||||||||||||
| Employee Retention Credit/gov’t employment support | – | – | – | – | (249 | ) | 249 | |||||||||||||||||||
| Molds and tooling capitalization | – | – | – | (1,751 | ) | – | (1,751 | ) | ||||||||||||||||||
| Loss on debt extinguishment | – | – | – | 1,023 | – | 1,023 | ||||||||||||||||||||
| Adjusted EBITDA | $ | (10,929 | ) | $ | (12,099 | ) | $ | 1,170 | $ | 75,719 | $ | 76,381 | $ | (662 | ) | |||||||||||
| Adjusted EBITDA/Net sales % | (8.6 | )% | (9.2 | )% | 60 bps | 10.6 | % | 9.6 | % | 100 bps | ||||||||||||||||
| JAKKS Pacific, Inc. and Subsidiaries | ||||||||||||||||||||||||||
| Reconciliation of Non-GAAP Financial Information (Unaudited) | ||||||||||||||||||||||||||
| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||||||||||||||
| 2023 | 2022 | Δ ($) | 2023 | 2022 | Δ ($) | |||||||||||||||||||||
| (In thousands, except per share data) | (In thousands, except per share data) | |||||||||||||||||||||||||
| Adjusted net income (loss) attributable to common stockholders | ||||||||||||||||||||||||||
| Net income (loss) attributable to common stockholders | $ | (11,252 | ) | $ | 37,607 | $ | (48,859 | ) | $ | 36,904 | $ | 89,997 | $ | (53,093 | ) | |||||||||||
| Restricted stock compensation expense | 2,057 | 1,646 | 411 | 8,027 | 5,082 | 2,945 | ||||||||||||||||||||
| Change in fair value of preferred stock derivative liability | 1,361 | (1,429 | ) | 2,790 | 8,029 | 636 | 7,393 | |||||||||||||||||||
| Loss on debt extinguishment | – | – | – | 1,023 | – | 1,023 | ||||||||||||||||||||
| Employee Retention Credit/gov’t employment support | – | – | – | – | (249 | ) | 249 | |||||||||||||||||||
| Loss from joint ventures (JAKKS Pacific, Inc. – 51%) | – | – | – | 276 | – | 276 | ||||||||||||||||||||
| 2021 BSP Term Loan prepayment penalty | – | – | – | 150 | 525 | (375 | ) | |||||||||||||||||||
| Molds and Tooling capitalization | – | – | – | (1,751 | ) | – | (1,751 | ) | ||||||||||||||||||
| Valuation allowance release/adjustments | (2,577 | ) | (51,178 | ) | 48,601 | (2,577 | ) | (51,178 | ) | 48,601 | ||||||||||||||||
| Tax impact of additional charges | (96 | ) | (511 | ) | 415 | (1,175 | ) | (1,208 | ) | 33 | ||||||||||||||||
| Adjusted net income (loss) attributable to common stockholders | $ | (10,507 | ) | $ | (13,865 | ) | $ | 3,358 | $ | 48,906 | $ | 43,605 | $ | 5,301 | ||||||||||||
| Adjusted earnings (loss) per share – basic | $ | (1.04 | ) | $ | (1.42 | ) | $ | 0.38 | $ | 4.91 | $ | 4.52 | $ | 0.39 | ||||||||||||
| Shares used in adjusted earnings (loss) per share – basic | 10,084 | 9,732 | 352 | 9,962 | 9,651 | 311 | ||||||||||||||||||||
| Adjusted earnings (loss) per share – diluted | $ | (1.04 | ) | $ | (1.42 | ) | $ | 0.38 | $ | 4.62 | $ | 4.29 | $ | 0.32 | ||||||||||||
| Shares used in adjusted earnings (loss) per share – diluted | 10,084 | 9,732 | 352 | 10,590 | 10,155 | 435 | ||||||||||||||||||||
| JAKKS Pacific, Inc. and Subsidiaries | |||||||||||||||||||||||
| Net Sales by Division and Geographic Region | |||||||||||||||||||||||
| (In thousands) | QTD Q4 | (In thousands) | FY | ||||||||||||||||||||
| Divisions | 2023 | 2022 | 2021 | % Change 2023 v 2022 |
% Change 2022 v 2021 |
Divisions | 2023 | 2022 | 2021 | % Change 2023 v 2022 |
% Change 2022 v 2021 |
||||||||||||
| Toys/Consumer Products | $ | 118,855 | $ | 117,727 | $ | 179,152 | 1.0 | % | -34.3 | % | Toys/Consumer Products | $ | 580,686 | $ | 647,317 | $ | 513,517 | -10.3 | % | 26.1 | % | ||
| Dolls, Role-Play/Dress Up | 73,272 | 68,937 | 116,877 | 6.3 | % | -41.0 | % | Dolls, Role-Play/Dress Up | 319,962 | 423,581 | 323,360 | -24.5 | % | 31.0 | % | ||||||||
| Action Play & Collectibles | 35,312 | 38,909 | 41,164 | -9.2 | % | -5.5 | % | Action Play & Collectibles | 219,446 | 173,529 | 114,778 | 26.5 | % | 51.2 | % | ||||||||
| Outdoor/Seasonal Toys | 10,272 | 9,881 | 21,111 | 4.0 | % | -53.2 | % | Outdoor/Seasonal Toys | 41,279 | 50,207 | 75,379 | -17.8 | % | -33.4 | % | ||||||||
| Costumes | $ | 8,541 | $ | 14,159 | $ | 8,812 | -39.7 | % | 60.7 | % | Costumes | 130,870 | 148,870 | 107,599 | -12.1 | % | 38.4 | % | |||||
| Total | $ | 127,396 | $ | 131,886 | $ | 187,964 | -3.4 | % | -29.8 | % | Total | $ | 711,557 | $ | 796,187 | $ | 621,116 | -10.6 | % | 28.2 | % | ||
| (In thousands) | QTD Q4 | (In thousands) | FY | ||||||||||||||||||||
| Regions | 2023 | 2022 | 2021 | % Change 2023 v 2022 |
% Change 2022 v 2021 |
Regions | 2023 | 2022 | 2021 | % Change 2023 v 2022 |
% Change 2022 v 2021 |
||||||||||||
| United States | $ | 96,304 | $ | 100,907 | $ | 148,876 | -4.6 | % | -32.2 | % | United States | $ | 557,865 | $ | 644,295 | $ | 512,193 | -13.4 | % | 25.8 | % | ||
| Europe | 17,988 | 19,437 | 22,322 | -7.5 | % | -12.9 | % | Europe | 76,464 | 85,348 | 60,425 | -10.4 | % | 41.2 | % | ||||||||
| Latin America | 4,434 | 2,626 | 4,483 | 68.8 | % | -41.4 | % | Latin America | 32,024 | 18,338 | 12,606 | 74.6 | % | 45.5 | % | ||||||||
| Canada | 4,686 | 4,795 | 5,596 | -2.3 | % | -14.3 | % | Canada | 26,992 | 26,515 | 17,999 | 1.8 | % | 47.3 | % | ||||||||
| Asia | 2,140 | 1,698 | 3,018 | 26.0 | % | -43.7 | % | Asia | 8,543 | 10,431 | 9,232 | -18.1 | % | 13.0 | % | ||||||||
| Australia & New Zealand | 1,486 | 1,822 | 2,496 | -18.4 | % | -27.0 | % | Australia & New Zealand | 7,542 | 8,836 | 6,423 | -14.6 | % | 37.6 | % | ||||||||
| Middle East & Africa | 358 | 601 | 1,173 | -40.4 | % | -48.8 | % | Middle East & Africa | 2,127 | 2,424 | 2,238 | -12.3 | % | 8.3 | % | ||||||||
| Total | $ | 127,396 | $ | 131,886 | $ | 187,964 | -3.4 | % | -29.8 | % | Total | $ | 711,557 | $ | 796,187 | $ | 621,116 | -10.6 | % | 28.2 | % | ||
| (In thousands) | QTD Q4 | (In thousands) | FY | ||||||||||||||||||||
| Regions | 2023 | 2022 | 2021 | % Change 2023 v 2022 |
% Change 2022 v 2021 |
Regions | 2023 | 2022 | 2021 | % Change 2023 v 2022 |
% Change 2022 v 2021 |
||||||||||||
| North America | $ | 100,990 | $ | 105,702 | $ | 154,472 | -4.5 | % | -31.6 | % | North America | $ | 584,857 | $ | 670,810 | $ | 530,192 | -12.8 | % | 26.5 | % | ||
| International | 26,406 | 26,184 | 33,492 | 0.8 | % | -21.8 | % | International | 126,700 | 125,377 | 90,924 | 1.1 | % | 37.9 | % | ||||||||
| Total | $ | 127,396 | $ | 131,886 | $ | 187,964 | -3.4 | % | -29.8 | % | Total | $ | 711,557 | $ | 796,187 | $ | 621,116 | -10.6 | % | 28.2 | % | ||
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