JBIMEDIUM SIGNALFINANCIAL10-K

JBI shows deteriorating profitability with operating income down 24% and significantly reduced cash position, while expanding operations and reducing share buybacks.

The company is experiencing margin pressure with gross profit declining 14% and operating income falling 24%, suggesting operational challenges or pricing pressures. The 71% drop in cash combined with increased interest expense indicates potential liquidity concerns and higher debt burden.

Comparing 2026-03-04 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

JBI's financial performance weakened significantly with operating income declining 24% to $111.5M and net income falling 24% to $53.8M, while gross profit dropped 14% indicating margin compression. The balance sheet shows stress with cash plummeting 71% to just $13.2M and interest expense surging 43% to $60.0M, though stockholders' equity grew 10%. The company dramatically reduced share buybacks from $78.8M to $15.9M while increasing capital expenditures, suggesting a shift toward preserving cash and investing in growth despite current profitability pressures.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
-79.8%
$78.8M→$15.9M

Buyback activity reduced 79.8% — capital being redeployed elsewhere or cash conservation underway.

Cash & Equivalents
Balance Sheet
-70.8%
$45.3M→$13.2M

Cash declined 70.8% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Interest Expense
P&L
+42.7%
$42.0M→$60.0M

Interest expense surged 42.7% — significant debt increase or rising rates materially impacting earnings.

Capital Expenditure
Cash Flow
+26.9%
$20.1M→$25.5M

Capex increased 26.9% — ongoing investment in capacity or infrastructure for future growth.

Operating Income
P&L
-23.9%
$146.6M→$111.5M

Operating profitability softening — costs rising faster than revenue, watch for margin recovery plan.

Net Income
P&L
-23.6%
$70.4M→$53.8M

Net income declined 23.6% — review whether driven by operations, interest costs, or non-recurring items.

Accounts Receivable
Balance Sheet
-21%
$136.5M→$107.9M

Receivables declined — improved collection efficiency or conservative revenue recognition.

Gross Profit
P&L
-13.8%
$397.8M→$343.0M

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Current Liabilities
Balance Sheet
-12.8%
$136.8M→$119.3M

Current liabilities reduced — improved short-term financial position and working capital health.

Stockholders Equity
Balance Sheet
+10.4%
$518.8M→$572.5M

Equity base grew 10.4% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-03-04
PRIOR — 2025-02-26
ADDED
As of February 27, 2026, 138,858,171 shares of the Registrant s common stock were issued and outstanding.
trade policy and the imposition of tariffs could negatively impact our business, financial condition, and results of operations.
Our past growth may not be indicative of our future growth, and we may not be able to maintain or increase our revenue in future periods.
( we, us, Group, Janus or the Company ), headquartered in Temple, Georgia with eleven domestic and three international manufacturing facilities is a leading global manufacturer, supplier, and provider of turn-key self-storage, commercial, and industrial building solutions including: roll up and swing doors, hallway systems, single- and multi-story steel buildings, building components, relocatable storage MASS (Moveable Additional Storage Structures) units, facility and door automation technologies, and trucking terminal renovation, construction, remodeling, and maintenance services.
Over the past 20 years, we have expanded our operations to serve several U.S.
We serve the market for exterior and interior building solutions through both institutional REITs and non-institutional operators.
REITs comprise approximately 35 to 40% of the overall self-storage market by square footage, and have grown significantly over the past decade and at a higher rate than the non-institutional market.
We are led by our Chief Executive Officer, Ramey Jackson, who has been with us since 2002 and has extensive experience in the industry.
Jackson is supported by a management team that has a long track record of demonstrating an ability to produce robust and consistent organic and inorganic growth.
Acquisitions Kiwi II Asset Acquisition On January 8, 2026, through our wholly owned subsidiary Janus International Group, LLC, we acquired the business operations (such transaction, the Kiwi Acquisition ) of Kiwi II Construction Inc., a California corporation, Kiwi II East, Inc., a Tennessee corporation, Metal Tech, Inc., a California corporation (collectively, the Kiwi Sellers ).
REMOVED
As of February 21, 2025, 140,310,733 shares of the Registrant s common stock were issued and outstanding.
Our business strategy relies in part on acquisitions to sustain our growth.
Our past growth may not be indicative of our future growth, and our revenue growth rate may decline in the future.
Changes in trade policies, including the imposition of tariffs, could negatively impact our business, financial condition, and results of operations.
( we, us, Group, Janus or the Company ), headquartered in Temple, Georgia with ten domestic and three international manufacturing facilities is a leading global manufacturer, supplier, and provider of turn-key self-storage, commercial, and industrial building solutions including: roll up and swing doors, hallway systems, relocatable storage units, and facility and door automation technologies.
The Company provides facility and door automation and access control technologies, roll-up and swing doors, hallway systems, and relocatable storage MASS (Moveable Additional Storage Structures) units (among other solutions).
Over the past 20 years, Janus has expanded its operations to serve several U.S.
The Company serves the market for interior building solutions through both institutional REITs and non-institutional operators.
REITs comprise approximately 35% of the overall self-storage market, and have grown significantly over the past decade and at a higher rate than the non-institutional market.
Janus is led by our Chief Executive Officer, Ramey Jackson, who has been with the Company since 2002 and has extensive experience in the industry.
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