JAKKS Pacific Files Q2 2024 10-Q Report
Ticker: JAKK · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1009829
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
JAKKS Pacific dropped its Q2 10-Q. Check financials.
AI Summary
JAKKS Pacific, Inc. filed its quarterly report on Form 10-Q for the period ended June 30, 2024. The report details the company's financial performance and business operations during the second quarter of 2024. Key financial figures and operational highlights are presented, providing investors with an update on the company's status.
Why It Matters
This filing provides crucial financial and operational insights into JAKKS Pacific's performance for the second quarter of 2024, impacting investor decisions and market perception.
Risk Assessment
Risk Level: medium — As a toy company, JAKKS Pacific is subject to seasonal sales, changing consumer preferences, and supply chain disruptions, which can impact financial performance.
Key Numbers
- 0001185185-24-000762 — Accession Number (Unique identifier for the filing)
- 001-35448 — SEC File Number (Company's SEC file number)
Key Players & Entities
- JAKKS Pacific, Inc. (company) — Registrant
- June 30, 2024 (date) — Quarterly period end date
- 20240806 (date) — Filing date
- 2951 28TH STREET, SANTA MONICA, CA 90405 (address) — Company business and mail address
FAQ
What is the primary purpose of this Form 10-Q filing?
The primary purpose of this Form 10-Q filing is to provide a quarterly report on the financial performance and business operations of JAKKS Pacific, Inc. for the period ended June 30, 2024.
When was this 10-Q report filed with the SEC?
This 10-Q report was filed with the SEC on August 6, 2024.
What is the fiscal year end for JAKKS Pacific, Inc.?
The fiscal year end for JAKKS Pacific, Inc. is December 31.
What is the company's Standard Industrial Classification code?
The company's Standard Industrial Classification code is 3944, which pertains to GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES).
Where is JAKKS Pacific, Inc. incorporated?
JAKKS Pacific, Inc. is incorporated in Delaware.
Filing Stats: 4,428 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2024-08-06 16:43:54
Filing Documents
- jakkspacif20240630_10q.htm (10-Q) — 1264KB
- ex_707921.htm (EX-31.1) — 8KB
- ex_707922.htm (EX-31.2) — 8KB
- ex_707924.htm (EX-32.1) — 3KB
- ex_707925.htm (EX-32.2) — 3KB
- 0001185185-24-000762.txt ( ) — 6629KB
- jakk-20240630.xsd (EX-101.SCH) — 48KB
- jakk-20240630_cal.xml (EX-101.CAL) — 48KB
- jakk-20240630_def.xml (EX-101.DEF) — 266KB
- jakk-20240630_lab.xml (EX-101.LAB) — 427KB
- jakk-20240630_pre.xml (EX-101.PRE) — 257KB
- jakkspacif20240630_10q_htm.xml (XML) — 1000KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Income 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27 Part II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 28 Item 1A.
Risk Factors
Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds None Item 3. Defaults Upon Senior Securities None Item 4. Mine Safety Disclosures None Item 5. Other Information 28 Item 6. Exhibits 28
Signatures
Signatures Exhibit 31.1 Exhibit 31.2 Exhibit 32.1 Exhibit 32.2
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements JAKKS PACIFIC, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) Assets June 30, December 31, 2024 2023 (Unaudited) Current assets Cash and cash equivalents $ 17,700 $ 72,350 Restricted cash 202 204 Accounts receivable, net of allowance for credit losses of $ 5,236 and $ 3,743 at June 30, 2024 and December 31, 2023, respectively 140,006 123,797 Inventory 51,327 52,647 Prepaid expenses and other assets 26,457 6,374 Total current assets 235,692 255,372 Property and equipment Office furniture and equipment 9,512 8,852 Molds and tooling 125,030 120,396 Leasehold improvements 6,784 6,708 Total 141,326 135,956 Less accumulated depreciation and amortization 124,580 121,357 Property and equipment, net 16,746 14,599 Operating lease right-of-use assets, net 20,667 23,592 Other long-term assets 1,976 2,162 Deferred income tax assets, net 68,141 68,143 Goodwill 35,029 35,083 Total assets $ 378,251 $ 398,951 Liabilities, Preferred Stock and Stockholders' Equity Current liabilities Accounts payable $ 55,368 $ 42,177 Accounts payable - Meisheng (related party) 19,130 12,259 Accrued expenses 45,026 45,102 Reserve for sales returns and allowances 29,456 38,531 Income taxes payable — 3,785 Short-term operating lease liabilities 7,777 7,380 Short-term debt, net 5,000 — Total current liabilities 161,757 149,234 Long-term operating lease liabilities 14,859 16,666 Accrued expenses – long-term 2,299 3,746 Preferred stock derivative liability — 29,947 Income taxes payable 3,441 3,245 Total liabilities 182,356 202,838 Preferred stock accrued dividends, $ 0.001 par value; 5,000,000 shares authorized; nil and 200,000 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively — 5,992 Stockholders' Equity Co