JAKKS Pacific concluded 2024 with a 3% increase in Q4 net sales to $130.7 million, driven by strong Costume sales. Despite an operating loss, the company improved its financial position, becoming debt-free and initiating a quarterly cash dividend, reflecting optimism for future growth.
Net sales for Q4 2024 increased by 3% year-over-year to $130.7 million.
Gross profit for Q4 2024 rose by 5% to $35.6 million, with gross margin improving by 70 basis points to 27.2%.
The company reported a net loss attributable to common stockholders of $9.1 million, or $0.83 per diluted share, an improvement from the prior year.
JAKKS Pacific became a debt-free company and initiated a quarterly cash dividend of 25 cents per share, payable March 31, 2025.
JAKKS Pacific is optimistic about its future, aiming to maintain its quarterly dividend and leverage its debt-free status for continued success, focusing on international expansion and product diversification.
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