EX-99.1 4 ex_486670.htm EXHIBIT 99.1 ex_486670.htm

Exhibit 99.1

 

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JAKKS PACIFIC REPORTS FOURTH QUARTER AND FULL-YEAR 2022 FINANCIAL RESULTS

 

SECOND CONSECUTIVE YEAR OF 20+% SALES GROWTH

LONG-TERM DEBT REDUCED 55% YEAR-OVER-YEAR

 

SANTA MONICA, California, March 9, 2023 – JAKKS Pacific, Inc. [NASDAQ: JAKK] today reported financial results for the fourth quarter ended December 31, 2022.

 

Fourth Quarter 2022

 

Net sales were $131.9 million compared to $188.0 million last year; a 30% decrease

 

Gross margin of 21.7%, negatively impacted by lower capitalization of warehouse costs, higher tooling amortization, obsolete inventory and royalty expense, offset by lower inbound freight expenses

 

A valuation allowance release against a deferred tax asset generated a $52.6 million non-cash gain

 

Net income attributable to common stockholders of $38.9 million, up from a net loss attributable to common stockholders of $3.5 million in Q4 2021

 

Adjusted net loss attributable to common stockholders of $14.0 million, down from adjusted net income attributable to common stockholders of $1.3 million in Q4 2021

 

Adjusted EBITDA of $(12.1) million, down from $5.0 million in Q4 2021.

 

Full-Year 2022

 

Net sales were $796.2 million compared to $621.1 million last year; a 28% increase

 

Gross margin of 26.5% compared to 29.5% last year

 

Operating income of $61.0 million compared to $38.8 million last year; a 57% increase

 

Net income attributable to common stockholders of $91.3 million, up from a net loss attributable to common stockholders of $7.3 million in 2021

 

Adjusted EBITDA of $76.4 million up 55% versus $49.2 million in 2021

 

Adjusted net income attributable to common stockholders of $43.4 million ($4.28 per diluted share), up from adjusted net income attributable to common stockholders of $23.6 million ($2.59 per diluted share) in 2021

 

Cash flows provided by operating activities of $86.1 million, compared to cash flows used in operating activities of $5.9 million in 2021

 

o

 Cash flow sweep loan provision will reduce debt by $23.1 million in Q1 2023

 

Management Commentary

“2022 exceeded our expectations with a second consecutive year of 20+% sales growth and, more importantly, strong retail sell-through for our customers” said Stephen Berman, JAKKS Pacific’s Chairman and CEO. “In addition to a couple of strong successes, we saw solid results from the majority of our product lines. We shipped an exceptional amount of product in a compressed time-window resulting in higher-than-average costs in our domestic fulfilment operations in the back half of the year, suppressing our full-year margins. In Q4, and in the new year, we focused on resetting our inventory position and warehouse capacity and feel well-positioned for the new year. Our North American business grew 27% on a full-year basis, and our International business grew by 38%.

 

“We have a great line-up of new introductions in 2023. We’re launching and extending some of our own brands, in addition to introducing new product lines in association with film and TV releases throughout the year. Although we anticipate the business reverting to its more traditional second-half seasonality, our focus on prioritizing FOB sales continues, which results in shipments earlier in the year as compared with other companies. We are also working diligently to capture year-over-year margin improvement opportunities both on product and in the supply-chain.”

 

 

 

Fourth Quarter and Full-Year Results

Net sales for the fourth quarter 2022 were $131.9 million, down 30% versus $188.0 million last year. The decrease was anticipated given customers ordering product earlier than the traditional seasonality, in addition to a late shipment in Q3 2021 creating an atypically high Q4 2021 sales level. Net sales in the Toys/Consumer Products segment were down 34% globally, 34% in North America and 35% in International. For the full year, North America Toys/Consumer Products was up 26% and International was up 28%. Net sales in the Costumes segment increased 61% compared to Q4 2021 and were up 38% for the full year. Our Top 10 markets all achieved sales growth year-over-year.

 

A release of a deferred tax asset valuation allowance created a non-cash gain of $52.6 million in the quarter. Net income attributable to common stockholders increased to $38.9 million, or $3.79 per diluted share, compared to a net loss attributable to common stockholders of $3.5 million, or $0.37 per diluted share for the fourth quarter of 2021. Adjusting out the gain on the valuation allowance and other customary adjustments led to an adjusted net loss attributable to common stockholders (a non-GAAP measure) of $14.0 million, or $1.44 per diluted share in the fourth quarter of 2022 versus adjusted net income attributable to common stockholders of $1.3 million or $0.14 per diluted share in the fourth quarter of 2021. On a full-year basis, net income attributable to common stockholders improved to $91.3 million versus a net loss attributable to common stockholders of $7.3 million in 2021. Full-year adjusted net income attributable to common stockholders was $43.4 million, or $4.28 per diluted share, compared to a 2021 adjusted net income attributable to common stockholders of $23.6 million, or $2.59 per diluted share. See note below on “Use of Non-GAAP Financial Information.”

 

Adjusted EBITDA (a non-GAAP measure) for full-year 2022 grew to $76.4 million (9.6% of net sales), the highest full-year level of Adjusted EBITDA dollars and margin since 2010.

 

Cash and Cash Equivalents; Debt

The Company’s cash and cash equivalents (including restricted cash) totaled $85.5 million as of December 31, 2022, compared to $45.3 million as of December 31, 2021. The cash flow sweep provision of the Company’s Term Loan triggers a mandatory paydown of $23.1 million based on full-year results. That amount is now reclassified to short-term debt on the 12/31/2022 balance sheet, in addition to this year’s scheduled principal amortization. Separately, in January 2023, the company used a portion of its cash-on-hand to make an optional pay-down of its long-term debt of $15 million, incurring $150K in pre-payment penalties. As we have made the sweep payment upon finalizing our financials, the current payoff balance of our Term Loan is $30.8 million. Cash and cash equivalents (including restricted cash) total $40.2 million as of March 3, 2023. The company currently has no draw on its asset-based loan.

 

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 earnings per share and Adjusted EBITDA which are non-GAAP metrics that exclude 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.” “Liquidity” is calculated as cash and cash equivalents, including restricted cash, 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 March 9, 2023. 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 Perfectly Cute™, Ami-Amis™, ReDo™ Skateboard Co, AirTitans®, Disguise®, JAKKS Wild Games™, Moose Mountain®, Maui®, SportsZone™, Fly Wheels™, 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 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.

 

CONTACT:

 

JAKKS Pacific Investor Relations

 

(424) 268-9567

Lucas Natalini

investors@jakks.net

 

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

 

   

December 31,

 
   

2022

   

2021

 
   

(In thousands)

 

Assets

 

Current assets:

               

Cash and cash equivalents

  $ 85,297     $ 44,521  

Restricted cash

    193       811  

Accounts receivable, net

    102,771       147,394  

Inventory

    80,619       83,954  

Prepaid expenses and other assets

    6,331       10,877  

Total current assets

    275,211       287,557  
                 

Property and equipment

    130,437       121,945  

Less accumulated depreciation and amortization

    115,575       108,796  

Property and equipment, net

    14,862       13,149  
                 

Operating lease right-of-use assets, net

    19,913       16,950  

Deferred income tax assets, net

    51,762       -  

Goodwill

    35,083       35,083  

Intangibles and other assets, net

    2,469       4,308  

Total assets

  $ 399,300     $ 357,047  
                 
Liabilities, Preferred Stock and Stockholders' Equity                
                 

Current liabilities:

               

Accounts payable

  $ 33,687     $ 50,237  

Accounts payable - Meisheng (related party)

    9,820       15,894  

Accrued expenses

    37,999       47,071  

Reserve for sales returns and allowances

    51,877       46,285  

Income taxes payable

    3,648       1,004  

Short term operating lease liabilities

    10,746       10,477  

Short term debt, net

    25,529       2,104  

Total current liabilities

    173,306       173,072  
                 

Long term operating lease liabilities

    9,863       8,039  

Debt, non-current portion, net

    41,622       93,415  

Preferred stock derivative liability

    21,918       21,282  

Income taxes payable

    114       215  

Deferred income tax liabilities, net

    -       51  

Total liabilities

    246,823       296,074  
                 

Preferred stock accrued dividends

    4,490       3,074  
                 

Stockholders' equity:

               

Common stock, $.001 par value

    10       10  

Additional paid-in capital

    275,187       272,941  

Accumulated deficit

    (110,729 )     (203,431 )

Accumulated other comprehensive loss

    (17,482 )     (12,952 )

Total JAKKS Pacific, Inc. stockholders' equity

    146,986       56,568  

Non-controlling interests

    1,001       1,331  

Total stockholders' equity

    147,987       57,899  

Total liabilities, preferred stock and stockholders' equity

  $ 399,300     $ 357,047  

 

 

 

Supplemental Balance Sheet and Cash Flow Data (Unaudited)

 
   

December 31,

 

Key Balance Sheet Data:

 

2022

   

2021

 
                 

Accounts receivable days sales outstanding (DSO)

    72       72  

Inventory turnover (DSI)

    72       56  

 

   

Twelve Months Ended December 31,

 
                 

Condensed Cash Flow Data:

 

2022

   

2021

 
   

(In thousands)

 

Cash flows provided by (used in) operating activities

  $ 86,098     $ (5,879 )

Cash flows used in investing activities

    (10,387 )     (8,189 )

Cash flows used in financing activities and other

    (35,554 )     (33,293 )

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

  $ 40,157     $ (47,361 )
                 

Capital expenditures

  $ (10,389 )   $ (8,221 )

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

 

   

Three Months Ended December 31,

           

Twelve Months Ended December 31,

         
   

2022

   

2021

   

Δ (%)

   

2022

   

2021

   

Δ (%)

 
   

(In thousands, except per share data)

           

(In thousands, except per share data)

         
                                                 

Net sales

  $ 131,886     $ 187,964       (30

)%

  $ 796,187     $ 621,116       28

%

Less: Cost of sales

                                               

Cost of goods

    81,355       111,497       (27 )     449,597       343,130       31  

Royalty expense

    20,371       25,641       (21 )     126,633       87,187       45  

Amortization of tools and molds

    1,592       784       103       8,671       7,842       11  

Cost of sales

    103,318       137,922       (25 )     584,901       438,159       33  

Gross profit

    28,568       50,042       (43 )     211,286       182,957       15  

Direct selling expenses

    13,153       19,252       (32 )     33,290       43,069       (23 )

General and administrative expenses

    30,752       27,262       13       114,819       98,712       16  

Depreciation and amortization

    360       602       (40 )     1,907       2,409       (21 )

Selling, general and administrative expenses

    44,265       47,116       (6 )     150,016       144,190       4  

Intangibles impairment

    -       -       -       300       -       nm  

Income (loss) from operations

    (15,697 )     2,926       nm       60,970       38,767       57  

Other income (expense):

                                               

Other income (expense), net

    277       190       46       797       446       79  

Change in fair value of convertible senior notes

    -       76       nm       -       (16,419 )     nm  

Change in fair value of preferred stock derivative liability

    1,429       (4,207 )     nm       (636 )     (13,220 )     (95 )

Gain on loan forgiveness

    -       -       -       -       6,206       nm  

Loss on debt extinguishment

    -       -       -       -       (7,351 )     nm  

Interest income

    63       3       nm       127       13       nm  

Interest expense

    (2,294 )     (2,201 )     4       (11,183 )     (14,104 )     (21 )

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

    (16,222 )     (3,213 )     405       50,075       (5,662 )     nm  

Provision for (benefit from) income taxes

    (55,620 )     (60 )     nm       (42,297 )     226       nm  

Net income (loss)

    39,398       (3,153 )     nm       92,372       (5,888 )     nm  

Net income (loss) attributable to non-controlling interests

    140       19       nm       (330 )     120       nm  

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

  $ 39,258     $ (3,172 )     nm

%

  $ 92,702     $ (6,008 )     nm

%

Net income (loss) attributable to common stockholders

  $ 38,896     $ (3,513 )     nm

%

  $ 91,286     $ (7,342 )     nm

%

Earnings (loss) per share - basic

  $ 4.00     $ (0.37 )           $ 9.46     $ (0.98 )        

Shares used in earnings (loss) per share - basic

    9,732       9,511               9,651       7,498          

Earnings (loss) per share - diluted

  $ 3.79     $ (0.37 )           $ 8.99     $ (0.98 )        

Shares used in earnings (loss) per share - diluted

    10,263       9,511               10,155       7,498          

 

 

 

   

Three Months Ended December 31,

           

Twelve Months Ended December 31,

         
   

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

    61.7       59.3       (240 )     56.5       55.2       (130 )

Royalty expense

    15.4       13.6       (180 )     15.9       14.0       (190 )

Amortization of tools and molds

    1.2       0.5       (70 )     1.1       1.3       20  

Cost of sales

    78.3       73.4       (490 )     73.5       70.5       (300 )

Gross profit

    21.7       26.6       (490 )     26.5       29.5       (300 )

Direct selling expenses

    10.0       10.2       20       4.2       6.9       270  

General and administrative expenses

    23.3       14.5       (880 )     14.4       15.9       150  

Depreciation and amortization

    0.3       0.3       -       0.2       0.4       20  

Selling, general and administrative expenses

    33.6       25.0       (860 )     18.8       23.2       440  

Intangibles impairment

    -       -       -       -       -       -  

Income (loss) from operations

    (11.9 )     1.6       (1,350 )     7.7       6.3       140  

Other income (expense):

                                               

Other income (expense), net

    0.2       0.1               0.1       -          

Change in fair value of convertible senior notes

    -       -               -       (2.6 )        

Change in fair value of preferred stock derivative liability

    1.1       (2.2 )             (0.1 )     (2.1 )        

Gain on loan forgiveness

    -       -               -       1.0          

Loss on debt extinguishment

    -       -               -       (1.2 )        

Interest income

    -       -               -       -          

Interest expense

    (1.7 )     (1.2 )             (1.4 )     (2.3 )        

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

    (12.3 )     (1.7 )             6.3       (0.9 )        

Provision for (benefit from) income taxes

    (42.2 )     -               (5.3 )     -          

Net income (loss)

    29.9       (1.7 )             11.6       (0.9 )        

Net income (loss) attributable to non-controlling interests

    0.1       -               -       -          

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

    29.8

%

    (1.7

)%

            11.6

%

    (0.9

)%

       

Net income (loss) attributable to common stockholders

    29.5

%

    (1.9

)%

            11.5

%

    (1.2

)%

       

 

 

 

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

December 31,

           

Twelve Months Ended

December 31,

         
   

2022

   

2021

   

Δ ($)

   

2022

   

2021

   

Δ ($)

 
   

(In thousands)

            (In thousands)          

EBITDA and Adjusted EBITDA

                                               

Net income (loss)

  $ 39,398     $ (3,153 )   $ 42,551     $ 92,372     $ (5,888 )   $ 98,260  

Interest expense

    2,294       2,201       93       11,183       14,104       (2,921 )

Interest income

    (63 )     (3 )     (60 )     (127 )     (13 )     (114 )

Provision for (benefit from) income taxes

    (55,620 )     (60 )     (55,560 )     (42,297 )     226       (42,523 )

Depreciation and amortization

    1,952       1,386       566       10,578       10,251       327  

EBITDA

    (12,039 )     371       (12,410 )     71,709       18,680       53,029  

Adjustments:

                                               

Other (income) expense, net

    (277 )     (190 )     (87 )     (797 )     (446 )     (351 )

Restricted stock compensation expense

    1,646       713       933       5,082       2,093       2,989  

Change in fair value of preferred stock derivative liability

    (1,429 )     4,207       (5,636 )     636       13,220       (12,584 )

Change in fair value of convertible senior notes

    -       (76 )     76       -       16,419       (16,419 )

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 )

Adjusted EBITDA

  $ (12,099 )   $ 5,025     $ (17,124 )   $ 76,381     $ 49,211     $ 27,170  

Adjusted EBITDA/Net sales %

    (9.2

)%

    2.7

%

 

-1190 bps

      9.6

%

    7.9

%

 

170 bps

 

 

 

 

   

Three Months Ended

December 31,

           

Twelve Months Ended

December 31,

         
   

2022

   

2021

   

Δ ($)

   

2022

   

2021

   

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

  $ 38,896     $ (3,513 )   $ 42,409     $ 91,286     $ (7,342 )   $ 98,628  

Restricted stock compensation expense

    1,646       713       933       5,082       2,093       2,989  

Change in fair value of preferred stock derivative liability

    (1,429 )     4,207       (5,636 )     636       13,220       (12,584 )

Change in fair value of convertible senior notes

    -       (76 )     76       -       16,419       (16,419 )

Loss on debt extinguishment

    -       -       -       -       7,351       (7,351 )

Gain on loan forgiveness

    -       -       -       -       (6,206 )     6,206  

Employee Retention Credit/gov't employment support

    -       -       -       (249 )     (1,900 )     1,651  

2021 BSP Term Loan prepayment penalty

    -       -       -       525       -       525  

Valuation allowance release

    (52,644 )     -       (52,644 )     (52,644 )     -       (52,644 )

Tax impact of additional charges

    (511 )     -       (511 )     (1,208 )     -       (1,208 )

Adjusted net income (loss) attributable to common stockholders

  $ (14,042 )   $ 1,331     $ (15,373 )   $ 43,428     $ 23,635     $ 19,793  

Adjusted earnings (loss) per share - basic

  $ (1.44 )   $ 0.14     $ (1.58 )   $ 4.50     $ 3.15     $ 1.35  

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

    9,732       9,511       221       9,651       7,498       2,153  

Adjusted earnings (loss) per share - diluted

  $ (1.44 )   $ 0.14     $ (1.58 )   $ 4.28     $ 2.59     $ 1.69  

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

    9,732       9,762       (30 )     10,155       9,365       790  

 

 

 

JAKKS Pacific, Inc. and Subsidiaries

Net Sales by Division and Geographic Region
 

(In thousands)

 

QTD Q4

   

(In thousands)

 

FY 2022

 

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

  $ 117,727     $ 179,152     $ 121,034       -34.3 %     48.0 %  

Toys/Consumer Products

  $ 647,317     $ 513,517     $ 427,122       26.1 %     20.2 %

Dolls, Role-Play/Dress Up

    68,937       116,877       72,970       -41.0 %     60.2 %  

Dolls, Role-Play/Dress Up

    423,581       323,360       275,154       31.0 %     17.5 %

Action Play & Collectibles

    38,909       41,164       26,609       -5.5 %     54.7 %  

Action Play & Collectibles

    173,529       114,778       80,560       51.2 %     42.5 %

Outdoor/Seasonal Toys

    9,881       21,111       21,455       -53.2 %     -1.6 %  

Outdoor/Seasonal Toys

    50,207       75,379       71,408       -33.4 %     5.6 %

Costumes

    14,159       8,812       7,233       60.7 %     21.8 %  

Costumes

    148,870       107,599       88,750       38.4 %     21.2 %

Total

  $ 131,886     $ 187,964     $ 128,267       -29.8 %     46.5 %  

Total

  $ 796,187     $ 621,116     $ 515,872       28.2 %     20.4 %

  

(In thousands)

 

QTD Q4

   

(In thousands)

 

FY 2022

 

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

  $ 100,907     $ 148,876     $ 100,224       -32.2 %     48.5 %  

United States

  $ 644,295     $ 512,193     $ 421,222       25.8 %     21.6 %

Europe

    19,437       22,322       17,461       -12.9 %     27.8 %  

Europe

    85,348       60,425       51,885       41.2 %     16.5 %

Canada

    4,795       5,596       3,931       -14.3 %     42.4 %  

Canada

    26,515       17,999       18,486       47.3 %     -2.6 %

Latin America

    2,626       4,483       1,148       -41.4 %     290.5 %  

Latin America

    18,338       12,606       7,734       45.5 %     63.0 %

Asia

    1,698       3,018       2,309       -43.7 %     30.7 %  

Asia

    10,431       9,232       8,285       13.0 %     11.4 %

Australia & New Zealand

    1,822       2,496       1,526       -27.0 %     63.6 %  

Australia & New Zealand

    8,836       6,423       5,795       37.6 %     10.8 %

Middle East & Africa

    601       1,173       1,668       -48.8 %     -29.7 %  

Middle East & Africa

    2,424       2,238       2,465       8.3 %     -9.2 %

Total

  $ 131,886     $ 187,964     $ 128,267       -29.8 %     46.5 %  

Total

  $ 796,187     $ 621,116     $ 515,872       28.2 %     20.4 %

  

(In thousands)

 

QTD Q4

   

(In thousands)

 

FY 2022

 

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

  $ 105,702     $ 154,472     $ 104,155       -31.6 %     48.3 %  

North America

  $ 670,810     $ 530,192     $ 439,708       26.5 %     20.6 %

International

    26,184       33,492       24,112       -21.8 %     38.9 %  

International

    125,377       90,924       76,164       37.9 %     19.4 %

Total

  $ 131,886     $ 187,964     $ 128,267       -29.8 %     46.5 %  

Total

  $ 796,187     $ 621,116     $ 515,872       28.2 %     20.4 %