Cimpress plc Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cimpress plc filed its Q3 2024 10-Q, reporting $8,068 million in revenue for the nine-month period ending March 31, 2024.</b>

AI Summary

CIMPRESS plc (CMPR) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Cimpress plc reported revenue of $8,068 million for the nine months ended March 31, 2024. The company's revenue for the three months ended March 31, 2024, was $6,630 million. Total assets were $43,611,795 as of March 31, 2024. Total debt was $25,640,548 as of March 31, 2024. The filing covers the period from July 1, 2023, to March 31, 2024.

Why It Matters

For investors and stakeholders tracking CIMPRESS plc, this filing contains several important signals. This 10-Q filing provides a quarterly update on Cimpress plc's financial performance and position, crucial for investors to assess recent operational results and balance sheet changes. The detailed financial data, including revenue, assets, and debt figures, allows stakeholders to track the company's financial health and compare its performance against previous periods and market expectations.

Risk Assessment

Risk Level: medium — CIMPRESS plc shows moderate risk based on this filing. The filing is a standard 10-Q, which provides routine financial updates. However, the absence of specific growth percentages or detailed segment performance in the provided text limits a deeper risk assessment.

Analyst Insight

Investors should review the full 10-Q filing for detailed segment performance, management's discussion and analysis, and any new risk factors disclosed to make informed investment decisions.

Financial Highlights

revenue

8068

total Assets

43611795

total Debt

25640548

Key Numbers

• 8,068 — Revenue (9 months ended Mar 31, 2024) (USD millions)
• 6,630 — Revenue (3 months ended Mar 31, 2024) (USD millions)
• 43,611,795 — Total Assets (as of Mar 31, 2024) (USD)
• 25,640,548 — Total Debt (as of Mar 31, 2024) (USD)
• 17,971,247 — Retained Earnings (as of Mar 31, 2024) (USD)

Key Players & Entities

• CIMPRESS plc (company) — Filer
• 20240331 (date) — Conformed period of report
• 20240502 (date) — Filed as of date
• 0001262976 (company) — Central Index Key
• 2750 (industry) — Standard Industrial Classification
• 781-652-6300 (phone) — Business phone
• CIMPRESS USA INCORPORATED (company) — Mail address
• VISTAPRINT N.V. (company) — Former company name

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $8,068 — counts receivable, net of allowances of $8,068 and $6,630, respectively 71,070 67,353
• $6,630 — ivable, net of allowances of $8,068 and $6,630, respectively 71,070 67,353 Inventory
• $60 — ordinary shares with a strike price of $60 that have a potentially dilutive impact

Filing Documents

• cmpr-20240331.htm (10-Q) — 1868KB
• ex31133124.htm (EX-31.1) — 9KB
• ex31233124.htm (EX-31.2) — 9KB
• ex32133124.htm (EX-32.1) — 7KB
• 0001262976-24-000035.txt (&nbsp;) — 10128KB
• cmpr-20240331.xsd (EX-101.SCH) — 40KB
• cmpr-20240331_cal.xml (EX-101.CAL) — 77KB
• cmpr-20240331_def.xml (EX-101.DEF) — 453KB
• cmpr-20240331_lab.xml (EX-101.LAB) — 765KB
• cmpr-20240331_pre.xml (EX-101.PRE) — 576KB
• cmpr-20240331_htm.xml (XML) — 1900KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1 Consolidated Balance Sheets as of March 31, 2024 and June 30, 2023 1 Consolidated Statements of Operations for the three and nine months ended March 31, 2024 and 2023 2 Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended March 31, 2024 and 2023 3 Consolidated Statements of Shareholders' Deficit for the three and nine months ended March 31, 2024 and 2023 4 Consolidated Statements of Cash Flows for the nine months ended March 31, 2024 and 2023 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

PART II OTHER INFORMATION

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Exhibits

Item 6. Exhibits 44

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CIMPRESS PLC CONSOLIDATED BALANCE SHEETS (unaudited in thousands, except share and per share data) March 31, 2024 June 30, 2023 Assets Current assets: Cash and cash equivalents $ 154,338 $ 130,313 Marketable securities 6,499 38,540 Accounts receivable, net of allowances of $8,068 and $6,630, respectively 71,070 67,353 Inventory 96,319 107,835 Prepaid expenses and other current assets 113,952 96,986 Total current assets 442,178 441,027 Property, plant and equipment, net 270,040 287,574 Operating lease assets, net 70,459 76,776 Software and website development costs, net 92,701 95,315 Deferred tax assets 9,435 12,740 Goodwill 779,263 781,541 Intangible assets, net 83,235 109,196 Marketable securities, non-current — 4,497 Other assets 37,002 46,193 Total assets $ 1,784,313 $ 1,854,859 Liabilities, noncontrolling interests and shareholders' deficit Current liabilities: Accounts payable $ 269,108 $ 285,784 Accrued expenses 271,093 257,109 Deferred revenue 49,838 44,698 Short-term debt 10,935 10,713 Operating lease liabilities, current 19,315 22,559 Other current liabilities 15,631 24,469 Total current liabilities 635,920 645,332 Deferred tax liabilities 47,221 47,351 Long-term debt 1,590,676 1,627,243 Operating lease liabilities, non-current 54,160 56,668 Other liabilities 79,591 90,058 Total liabilities 2,407,568 2,466,652 Commitments and contingencies (Note 12) Redeemable noncontrolling interests (Note 10) 12,140 10,893 Shareholders' deficit: Preferred shares, nominal value 0.01 per share, 100,000,000 shares authorized; none issued and outstanding — — Ordinary shares, nominal value 0.01 per share, 100,000,000 shares authorized; 43,611,795 and 44,315,855 shares issued, respectively; 25,640,548 and 26,344,608 shares outstanding, respectively 610 615 Treasury shares, at cost, 17,971,247 shares for both periods presented ( 1,363,550 ) ( 1,363,550 ) Additional paid-in capital 561,930 539,454 Re

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited in thousands, except share and per share data) 1. Description of the Business 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 which seeks to produce goods and services to meet individual customer needs with near mass production efficiency. 2. Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Cimpress plc, its wholly owned subsidiaries, entities in which we maintain a controlling financial interest, and those entities in which we have a variable interest and are the primary beneficiary. Intercompany balances and transactions have been eliminated. Investments in entities in which we cannot exercise significant influence, and for which the related equity securities do not have a readily determinable fair value, are included in other assets on the consolidated balance sheets; otherwise the investments are recognized by applying equity method accounting. Our equity method investments are included in other assets on the consolidated balance sheets. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We believe our most signific

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