Cimpress plc Files 2024 10-K: Financials and Commitments

TL;DR

Cimpress 10-K out: $7.2B assets, $6.6B liabilities. Debt due 2028. Looks stable.

AI Summary

Cimpress plc filed its 2024 10-K report on August 9, 2024, detailing its financial performance for the fiscal year ending June 30, 2024. The company, incorporated in L2, reported total assets of $7,219 million and total liabilities of $6,630 million. Key financial instruments include debt maturing in 2028 and various financial commitments extending to 2026.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Cimpress plc's financial health, including its asset base, liabilities, and significant debt obligations, crucial for assessing the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The company has significant liabilities and debt obligations, which could pose a risk if not managed effectively.

Key Numbers

• $7.2B — Total Assets (Represents the company's total resources as of June 30, 2024.)
• $6.6B — Total Liabilities (Indicates the company's total obligations as of June 30, 2024.)
• 2028-04-30 — Debt Maturity (Highlights a significant long-term financial commitment.)

Key Players & Entities

• CIMPRESS plc (company) — Filer of the 10-K report
• 20240630 (date) — Fiscal year end date
• 20240809 (date) — Filing date of the 10-K
• $7,219 million (dollar_amount) — Total assets reported
• $6,630 million (dollar_amount) — Total liabilities reported
• 2028-04-30 (date) — Maturity date for a significant debt

FAQ

Key Financial Figures

• $0 — wn substantially over our history, from $0 in 1995 to $0.2 billion of revenue in f
• $0.2 billion — ly over our history, from $0 in 1995 to $0.2 billion of revenue in fiscal year 2006, the yea
• $3.3 billion — came a publicly traded company, then to $3.3 billion of revenue in fiscal year 2024. As we h
• $100 billion — e four product categories below is over $100 billion annually in North America, Europe and A
• $25 billion — pportunity is estimated to be more than $25 billion per year. Large format products such
• $35 billion — pportunity is estimated to be more than $35 billion per year. Promotional products, appar
• $15 billion — pportunity is estimated to be more than $15 billion per year. The market for small format
• $6 billion — at small businesses spend approximately $6 billion annually on design services in these tw

Filing Documents

• cmpr-20240630.htm (10-K) — 2646KB
• ex45descriptionofregistere.htm (EX-4.5) — 6KB
• ex1024rkeaneemploymentagmt.htm (EX-10.24) — 19KB
• ex211subsidiariesofcimpres.htm (EX-21.1) — 35KB
• ex23163024.htm (EX-23.1) — 2KB
• ex31163024.htm (EX-31.1) — 9KB
• ex31263024.htm (EX-31.2) — 9KB
• ex32163024.htm (EX-32.1) — 7KB
• cmpr-20240630_g1.jpg (GRAPHIC) — 26KB
• cmpr-20240630_g10.jpg (GRAPHIC) — 209KB
• cmpr-20240630_g11.jpg (GRAPHIC) — 12KB
• cmpr-20240630_g12.jpg (GRAPHIC) — 11KB
• cmpr-20240630_g13.jpg (GRAPHIC) — 19KB
• cmpr-20240630_g14.jpg (GRAPHIC) — 72KB
• cmpr-20240630_g2.jpg (GRAPHIC) — 327KB
• cmpr-20240630_g3.jpg (GRAPHIC) — 9KB
• cmpr-20240630_g4.jpg (GRAPHIC) — 168KB
• cmpr-20240630_g5.jpg (GRAPHIC) — 47KB
• cmpr-20240630_g6.jpg (GRAPHIC) — 138KB
• cmpr-20240630_g7.jpg (GRAPHIC) — 28KB
• cmpr-20240630_g8.jpg (GRAPHIC) — 44KB
• cmpr-20240630_g9.jpg (GRAPHIC) — 160KB
• 0001262976-24-000064.txt ( ) — 18397KB
• cmpr-20240630.xsd (EX-101.SCH) — 60KB
• cmpr-20240630_cal.xml (EX-101.CAL) — 82KB
• cmpr-20240630_def.xml (EX-101.DEF) — 778KB
• cmpr-20240630_lab.xml (EX-101.LAB) — 1236KB
• cmpr-20240630_pre.xml (EX-101.PRE) — 952KB
• cmpr-20240630_htm.xml (XML) — 2683KB

Risk Factors 13

Item 1A. Risk Factors 13

Unresolved Staff Comments 24

Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 25

Properties 25

Item 2. Properties 25

Legal Proceedings 26

Item 3. Legal Proceedings 26

Mine Safety Disclosure 26

Item 4. Mine Safety Disclosure 26 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issued Purchases of Equity Securities 26

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issued Purchases of Equity Securities 26

[Reserved] 27

Item 6. [Reserved] 27

Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk 43

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 43

Financial Statements and Supplementary Data 45

Item 8. Financial Statements and Supplementary Data 45

Changes in and Disagreements with Accountants and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants and Financial Disclosure 97

Controls and Procedures 97

Item 9A. Controls and Procedures 97

Other Information 98

Item 9B. Other Information 98

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 98

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 98 Part III

Directors, Executive Officers and Corporate Governance 98

Item 10. Directors, Executive Officers and Corporate Governance 98

Executive Compensation 98

Item 11. Executive Compensation 98

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 98

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 98

Certain Relationships and Related Transactions, and Director Independence 98

Item 13. Certain Relationships and Related Transactions, and Director Independence 98

Principal Accountant Fees and Services 98

Item 14. Principal Accountant Fees and Services 98 Part IV

Exhibits and Financial Statement Schedules 99

Item 15. Exhibits and Financial Statement Schedules 99

Form 10-K Summary

Item 16. Form 10-K Summary 100 Signatures 101 PART I

Business

Item 1. Business Overview & Strategy Cimpress is a strategically focused collection of businesses that specialize in print mass customization, through which we deliver large volumes of individually small-sized customized orders of printed materials and related products. Our products and services include a broad range of marketing materials, business cards, signage, promotional products, logo apparel, packaging, books and magazines, wall decor, photo merchandise, invitations and announcements, design and digital marketing services, and other categories. Mass customization is a core element of the business model of each Cimpress business and is a competitive strategy that seeks to produce goods and services to meet individual customer needs with near mass production efficiency. We discuss mass customization in more detail further below. We have grown substantially over our history, from $0 in 1995 to $0.2 billion of revenue in fiscal year 2006, the year when we became a publicly traded company, then to $3.3 billion of revenue in fiscal year 2024. As we have grown we have achieved important benefits of scale. Our strategy is to invest in and build customer-focused, entrepreneurial print mass customization businesses for the long term, which we manage in a decentralized, autonomous manner. We drive competitive advantage across Cimpress through a select few shared strategic capabilities that have the greatest potential to create Cimpress-wide value. We limit all other central activities to only those which absolutely must be performed centrally. We believe this decentralized structure is beneficial in many ways as it enables our businesses to be more customer focused, to make better decisions faster, to manage a holistic cross-functional value chain required to serve customers well, to be more agile, to be held more accountable for driving investment returns, and to understand where we are successful and where we are not. This structure delegates responsibility, auth

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View this 10-K filing on SEC EDGAR