JAKKS PACIFIC INC
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 31, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| (Unaudited) | ||
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income | $15,191 | $43,313 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Provision for credit losses | 785 | 1,687 |
| Depreciation and amortization | 8,228 | 7,737 |
| Write-off and amortization of debt issuance costs | 464 | 237 |
| Share-based compensation expense | 8,132 | 7,280 |
| Loss on disposal of property and equipment | 12 | 115 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (64,935) | (168,314) |
| Inventory | (18,717) | (10,862) |
| Prepaid expenses and other assets | (3,832) | (121) |
| Accounts payable | 27,756 | 56,085 |
| Accounts payable - Meisheng (related party) | (12,706) | 22,382 |
| Accrued expenses | 3,071 | 26,158 |
| Reserve for sales returns and allowances | 1,874 | 2,306 |
| Income taxes payable | 2,466 | (3,507) |
| Deferred income taxes | 2,782 | — |
| Other liabilities | 4,676 | 323 |
| Total adjustments | (39,944) | (58,494) |
| Net cash used in operating activities | (24,753) | (15,181) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (7,850) | (7,344) |
| Investments in employee deferred compensation trusts | (1,820) | (1,647) |
| Proceeds from sale of property and equipment | — | 2 |
| Net cash used in investing activities | (9,670) | (8,989) |
| Cash flows from financing activities | ||
| Repurchase of common stock for employee tax withholding | (4,232) | (6,461) |
| Repayment of credit facility borrowings | (8,000) | (63,000) |
| Proceeds from credit facility borrowings | 8,000 | 63,000 |
| Dividends paid | (8,374) | — |
| Deferred issuance costs | (217) | — |
| Redemption of preferred stock | — | (20,000) |
| Net cash used in financing activities | (12,823) | (26,461) |
| Net decrease in cash, cash equivalents and restricted cash | (47,246) | (50,631) |
| Effect of foreign currency translation | 4,865 | 361 |
| Cash, cash equivalents and restricted cash, beginning of period | 70,137 | 72,554 |
| Cash, cash equivalents and restricted cash, end of period | $27,756 | $22,284 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $29 | $452 |
| Cash paid for income taxes, net | $2,789 | $14,866 |
Supplemental disclosures of non-cash activities:
During the nine months ended September 30, 2025 and 2024, the lease liability increased by $5.1 million and $2.7 million respectively, with a corresponding increase to the ROU asset.
As of September 30, 2025 and 2024, there was $4.2 million and $4.1 million, respectively, of property and equipment purchases included in accounts payable.
As of September 30, 2025, debt issuance costs of $0.1 million associated with the Company’s revolving credit facility with BMO Bank N.A. that was entered into on June 24, 2025 were included in accrued expenses (see Note 5 – Credit Facilities).
On August 8, 2025, the Company deregistered Jakks Pacific Trading Ltd., derecognized the related non-controlling interest of $0.5 million and recognized a liability towards the former non-controlling shareholder of $0.5 million within accrued expenses.
On March 11, 2024, the Company issued $15.0 million in common stock as part of the consideration to redeem the preferred stock derivative liability (see Note 8 – Common Stock and Preferred Stock).
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