Cimpress plc 10-Q: Assets $7.7B, Liabilities $7.2B

TL;DR

Cimpress 10-Q: Assets $7.7B, Liabilities $7.2B. Revenue $42.7M. Still holding $100M debt.

AI Summary

Cimpress plc filed its 10-Q for the period ending December 31, 2024. The company reported total assets of $7.727 billion and total liabilities of $7.219 billion. Key financial figures include $100 million in long-term debt and $42.789 million in revenue for the reported period.

Why It Matters

This filing provides a snapshot of Cimpress plc's financial health, detailing its assets, liabilities, and revenue, which are crucial for investors to assess the company's performance and stability.

Risk Assessment

Risk Level: medium — The company has a significant amount of liabilities relative to its assets, and a substantial portion of its debt is long-term, indicating potential financial leverage risks.

Key Numbers

• $7.727B — Total Assets (Indicates the total value of resources owned by the company.)
• $7.219B — Total Liabilities (Represents the company's total obligations to external parties.)
• $100.0M — Long-Term Debt (Shows the amount of debt due in more than one year, indicating financial leverage.)
• $42.79M — Revenue (Measures the income generated from the company's primary business activities.)

Key Players & Entities

• CIMPRESS plc (company) — Filer of the 10-Q report
• December 31, 2024 (date) — End of the reporting period
• $7.727 billion (dollar_amount) — Total assets reported
• $7.219 billion (dollar_amount) — Total liabilities reported
• $100,000,000 (dollar_amount) — Long-term debt
• $42,789,205 (dollar_amount) — Revenue for the period

FAQ

Key Financial Figures

• $7,727 — counts receivable, net of allowances of $7,727 and $7,219, respectively 58,863 64,576
• $7,219 — ivable, net of allowances of $7,727 and $7,219, respectively 58,863 64,576 Inventory

Filing Documents

• cmpr-20241231.htm (10-Q) — 1776KB
• ex311123124.htm (EX-31.1) — 9KB
• ex312123124.htm (EX-31.2) — 9KB
• ex321123124.htm (EX-32.1) — 7KB
• 0001262976-25-000011.txt ( ) — 9680KB
• cmpr-20241231.xsd (EX-101.SCH) — 39KB
• cmpr-20241231_cal.xml (EX-101.CAL) — 75KB
• cmpr-20241231_def.xml (EX-101.DEF) — 446KB
• cmpr-20241231_lab.xml (EX-101.LAB) — 777KB
• cmpr-20241231_pre.xml (EX-101.PRE) — 561KB
• cmpr-20241231_htm.xml (XML) — 1739KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1 Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024 1 Consolidated Statements of Operations for the three and six months ended December 31, 2024 and 2023 2 Consolidated Statements of Comprehensive Income for the three and six months ended December 31, 2024 and 2023 3 Consolidated Statements of Shareholders' Deficit for the three and six months ended December 31, 2024 and 2023 4 Consolidated Statements of Cash Flows for the six months ended December 31, 2024 and 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

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 27

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 41

OTHER INFORMATION

PART II OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

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

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45

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) December 31, 2024 June 30, 2024 Assets Current assets: Cash and cash equivalents $ 224,429 $ 203,775 Marketable securities — 4,500 Accounts receivable, net of allowances of $7,727 and $7,219, respectively 58,863 64,576 Inventory 103,313 97,016 Prepaid expenses and other current assets 109,035 88,112 Total current assets 495,640 457,979 Property, plant and equipment, net 278,510 265,177 Operating lease assets, net 78,461 78,681 Software and website development costs, net 92,180 92,212 Deferred tax assets 90,227 95,059 Goodwill 777,608 787,138 Intangible assets, net 65,940 76,560 Other assets 39,352 39,351 Total assets $ 1,917,918 $ 1,892,157 Liabilities, noncontrolling interests and shareholders' deficit Current liabilities: Accounts payable $ 340,916 $ 326,656 Accrued expenses 285,084 245,931 Deferred revenue 48,379 46,118 Short-term debt 9,625 12,488 Operating lease liabilities, current 19,814 19,634 Other current liabilities 23,952 13,136 Total current liabilities 727,770 663,963 Deferred tax liabilities 22,898 24,701 Long-term debt 1,579,213 1,591,807 Operating lease liabilities, non-current 62,645 61,895 Other liabilities 60,372 76,305 Total liabilities 2,452,898 2,418,671 Commitments and contingencies (Note 12) Redeemable noncontrolling interests (Note 10) 18,710 22,998 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; 42,789,205 and 43,051,269 shares issued, respectively; 24,817,958 and 25,080,022 shares outstanding, respectively 601 604 Treasury shares, at cost, 17,971,247 shares for both periods presented ( 1,363,550 ) ( 1,363,550 ) Additional paid-in capital 576,881 570,283 Retained earnings 277,562 272,881 Accumulated o

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. 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 significant estimates are associated with the ongoing evaluation of the recoverability of our lon

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