JAKKS Pacific Files Q3 2024 10-Q Report
Ticker: JAKK · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 1009829
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
JAKKS Pacific dropped its Q3 10-Q. Check financials for 9/30/24.
AI Summary
JAKKS Pacific, Inc. filed its 10-Q for the quarterly period ended September 30, 2024. The report details the company's financial performance and position as of that date. Key financial data and operational updates are provided for investors and stakeholders.
Why It Matters
This filing provides crucial financial insights into JAKKS Pacific's performance for the third quarter of 2024, impacting investor decisions and market perception.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal risks related to revenue, debt, or market conditions.
Key Players & Entities
- JAKKS PACIFIC INC (company) — Registrant
- September 30, 2024 (date) — Quarterly period end date
- 2951 28TH STREET (address) — Business and mailing address
- SANTA MONICA (city) — Business and mailing city
- CA (state) — Business and mailing state
- 90405 (zip_code) — Business and mailing zip code
- 424-268-9444 (phone_number) — Business phone number
FAQ
What is the filing date of this 10-Q report?
The filing date of this 10-Q report is November 8, 2024.
For what period is JAKKS Pacific, Inc. reporting?
JAKKS Pacific, Inc. is reporting for the quarterly period ended September 30, 2024.
What is the company's state of incorporation?
The company's state of incorporation is Delaware.
What is the IRS Employer Identification Number for JAKKS Pacific, Inc.?
The IRS Employer Identification Number for JAKKS Pacific, Inc. is 95-4527222.
What is the business address of JAKKS Pacific, Inc.?
The business address of JAKKS Pacific, Inc. is 2951 28TH STREET, SANTA MONICA, CA 90405.
Filing Stats: 4,386 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2024-11-08 08:31:15
Filing Documents
- jakkspacif20240930_10q.htm (10-Q) — 1353KB
- ex_743014.htm (EX-31.1) — 9KB
- ex_743015.htm (EX-31.2) — 9KB
- ex_743016.htm (EX-32.1) — 3KB
- ex_743017.htm (EX-32.2) — 3KB
- 0001185185-24-001088.txt ( ) — 6656KB
- jakk-20240930.xsd (EX-101.SCH) — 47KB
- jakk-20240930_cal.xml (EX-101.CAL) — 47KB
- jakk-20240930_def.xml (EX-101.DEF) — 252KB
- jakk-20240930_lab.xml (EX-101.LAB) — 452KB
- jakk-20240930_pre.xml (EX-101.PRE) — 267KB
- jakkspacif20240930_10q_htm.xml (XML) — 1052KB
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 None 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 September 30, December 31, 2024 2023 (Unaudited) Current assets Cash and cash equivalents $ 22,070 $ 72,350 Restricted cash 214 204 Accounts receivable, net of allowance for credit losses of $ 5,400 and $ 3,743 at September 30, 2024 and December 31, 2023, respectively 290,424 123,797 Inventory 63,509 52,647 Prepaid expenses and other assets 8,082 6,374 Total current assets 384,299 255,372 Property and equipment Office furniture and equipment 9,906 8,852 Molds and tooling 127,222 120,396 Leasehold improvements 6,944 6,708 Total 144,072 135,956 Less accumulated depreciation and amortization 128,947 121,357 Property and equipment, net 15,125 14,599 Operating lease right-of-use assets, net 19,242 23,592 Other long-term assets 1,923 2,162 Deferred income tax assets, net 68,187 68,143 Goodwill 35,102 35,083 Total assets $ 523,878 $ 398,951 Liabilities, Preferred Stock and Stockholders' Equity Current liabilities Accounts payable $ 98,928 $ 42,177 Accounts payable - Meisheng (related party) 35,011 12,259 Accrued expenses 71,748 45,102 Reserve for sales returns and allowances 40,837 38,531 Income taxes payable — 3,785 Short-term operating lease liabilities 7,405 7,380 Total current liabilities 253,929 149,234 Long-term operating lease liabilities 14,536 16,666 Accrued expenses – long-term 1,824 3,746 Preferred stock derivative liability — 29,947 Income taxes payable 3,523 3,245 Total liabilities 273,812 202,838 Preferred stock accrued dividends, $ 0.001 par value; 5,000,000 shares authorized; nil and 200,000 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively — 5,992 Stockholders' Equity Common stock, $ 0.001