Janus International Group, Inc.

Previous wording

•Results of Operations: This section provides an analysis of our results of operations for the three and six month periods ended July 4, 2026 and June 28, 2025.

Current wording

•Results of Operations: This section provides an analysis of our results of operations for the three and nine month periods ended October 3, 2026 and September 27, 2025.

Previous wording

•Liquidity and Capital Resources: This section provides a discussion of our financial condition and an analysis of our cash flows for the six month periods ended July 4, 2026 and June 28, 2025. This section also provides a discussion of our contractual obligations, other purchase commitments and customer credit risk that existed at July 4, 2026, as well as a discussion of our ability to fund our future commitments and ongoing operating activities through internal and external sources of capital.

Current wording

•Liquidity and Capital Resources: This section provides a discussion of our financial condition and an analysis of our cash flows for the nine month periods ended October 3, 2026 and September 27, 2025. This section also provides a discussion of our contractual obligations, other purchase commitments and customer credit risk that existed at October 3, 2026, as well as a discussion of our ability to fund our future commitments and ongoing operating activities through internal and external sources of capital.

Previous wording

•Adjusted EBITDA as a percentage of revenues was 17.2% for the three month period ended July 4, 2026 compared to 21.5% for the three month period ended June 28, 2025.

Current wording

•Adjusted EBITDA as a percentage of revenues was 16.0% for the three month period ended October 3, 2026 compared to 19.9% for the three month period ended September 27, 2025.

Previous wording

•Cash flows provided by operations of $24.4 were generated for the three month period ended July 4, 2026 compared to $51.4 cash flows provided by operations for the three month period ended June 28, 2025.

Current wording

•Cash flows provided by operations of $34.0 were generated for the three month period ended October 3, 2026 compared to $15.0 cash flows provided by operations for the three month period ended September 27, 2025.

Previous wording

•Common stock worth $1.9 was repurchased in the three months ended July 4, 2026, which consisted of 367,096 shares, as part of our share repurchase program. We have $63.1 in remaining capacity under our share repurchase program.

Current wording

•Repurchased common stock worth $25.3 in the three months ended October 3, 2026, which consisted of 4,977,659 shares, as part of our share repurchase program. We have $38.1 in remaining capacity under our share repurchase program.

Previous wording

Janus North America is comprised of Corporate, Janus Core (inclusive of our BETCO, Kiwi, and DBCI branded offerings), Janus Door, Janus Canada, Steel Door Depot, ASTA, NOKE, ACT, and T.M.C. Janus North America produces and provides various fabricated components such as commercial and self-storage doors, walls, hallway systems and building components used primarily by owners or builders of self-storage facilities and also offers installation services along with the products. Janus North America represents approximately 85% to 95% of the Company’s revenue.

Current wording

Janus North America is comprised of Corporate, Janus Core (inclusive of our BETCO, Kiwi II, and DBCI branded offerings), Janus Door, Janus Canada, Steel Door Depot, ASTA, NOKE, ACT, and T.M.C. Janus North America produces and provides various fabricated components such as commercial and self-storage doors, walls, hallway systems and building components used primarily by owners or builders of self-storage facilities and also offers installation services along with the products. Janus North America represents approximately 85% to 95% of the Company’s revenue.

Previous wording

On January 8, 2026, through our wholly owned subsidiary Janus Core, we acquired 100% of the business operations (such transaction, the “Kiwi II Acquisition”) of Kiwi II Construction, Inc., a California corporation, Kiwi II East Inc., a Tennessee corporation, and Metal Tech, Inc., a California corporation, (collectively, the “Kiwi II Sellers”). Pursuant to the asset purchase agreement for such acquisition, we acquired substantially all the assets of the Kiwi II Sellers related to the business of designing, supplying, and constructing self-storage facilities and manufacturing certain components used in those facilities for a total cash consideration of $98.8.

Current wording

On January 8, 2026, through our wholly owned subsidiary Janus Core, we acquired 100% of the business operations (such transaction, the “Kiwi II Acquisition”) of Kiwi II Construction, Inc., a California corporation, Kiwi II East Inc., a Tennessee corporation, and Metal Tech, Inc., a California corporation, (collectively, the “Kiwi II Sellers”). Pursuant to the asset purchase agreement for such acquisition, we acquired substantially all the assets of the Kiwi II Sellers related to the business of designing, supplying, and constructing self-storage facilities and manufacturing certain components used in those facilities for total cash consideration of $98.9.

Previous wording

Human capital is one of the main cost drivers of our manufacturing, selling, and administrative processes. As a result, we believe that headcount generally provides a reflection of our operational status, indicating whether the business is expanding or contracting. As of July 4, 2026 and June 28, 2025, our headcount was 1,950 employees (including 367 temporary employees) and 2,257 employees (including 410 temporary employees), respectively.

Current wording

Human capital is one of the main cost drivers of our manufacturing, selling, and administrative processes. As a result, we believe that headcount generally provides a reflection of our operational status, indicating whether the business is expanding or contracting. As of October 3, 2026 and September 27, 2025, our headcount was 2,008 employees (including 400 temporary employees) and 2,306 employees (including 453 temporary employees), respectively.

Previous wording

The Unaudited Condensed Consolidated Financial Statements have been derived from the accounts of Janus and its wholly owned subsidiaries. Our fiscal year follows a 4-4-5 calendar which divides a year into four quarters of 13 weeks, grouped into two 4-week “months” and one 5-week “month.” The major advantage of a 4-4-5 calendar is that the end date of the period is always the same day of the week, making manufacturing planning easier as every period is the same length. Every fifth or sixth year will require a 53rd week. As a result, some reporting periods are not as comparable as other reporting periods. Our most recent 53 week year was fiscal 2025.

Current wording

and one 5-week “month.” The major advantage of a 4-4-5 calendar is that the end date of the period is always the same day of the week, making manufacturing planning easier as every period is the same length. Every fifth or sixth year will require a 53rd week. As a result, some reporting periods are not as comparable as other reporting periods. Our most recent 53 week year was fiscal 2025.

Previous wording

Product Revenues. Product revenues represent the revenue from the sale of products, including steel roll-up and swing doors, rolling steel doors, steel structures, as well as hallway systems and facility and door automation technologies for commercial and self-storage customers. Product revenue is recognized upon transfer of control to the customer, which generally takes place at the point of destination. Product revenues also include all revenues affiliated with erecting a self-storage facility for our customers, which is recognized over time, over the life of the contract, which is generally less than a year. We expect our product revenue may vary from period to period based on, among other things, the timing and size of orders and delivery of products and the impact of significant transactions. Revenues are monitored and analyzed as a function of sales reporting within the following sales channels: new construction, R3, and commercial and other.

Current wording

Product Revenues. Product revenues represent the revenue from the sale of products, including steel roll-up and swing doors, rolling steel doors, steel structures, as well as hallway systems and facility and door automation technologies for commercial and self-storage customers. Product revenue is recognized upon transfer of control to the customer, which generally takes place at the point of destination. Product revenues also include all revenues affiliated with erecting a self-storage facility for our customers, which is recognized over time over the life of the contract and is based on the status of one performance obligation, which is generally less than a year. We expect our product revenue may vary from period to period based on, among other things, the timing and size of orders and delivery of products and the impact of significant transactions. Revenues are monitored and analyzed as a function of sales reporting within the following sales channels: new construction, R3, and commercial and other.

Previous wording

Service Revenues. Service revenues reflect installation services to customers for facilities, including steel roll-up and swing doors, hallway systems, and relocatable storage units, which are recognized over time based on the satisfaction of our performance obligation. We are highly integrated with customers at every phase of a project, including facility planning/design, construction, access control, and the R3 of damaged, or end-of-life products or rebranding of facilities due to market consolidation. Service revenues also include software license revenue generated through our Nokē Smart Entry platform and trucking terminal renovation, construction, remodeling, and maintenance services to provided to certain trucking customers. Revenues are monitored and analyzed as a function of sales reporting within the following sales channels: new construction, R3, and commercial and other.

Current wording

Service Revenues. Service revenues reflect installation services to customers for facilities, including steel roll-up and swing doors, hallway systems, and relocatable storage units, which are recognized over time based on the satisfaction of our performance obligation. We are highly integrated with customers at every phase of a project, including facility planning/design, construction, access control, and the R3 of damaged, or end-of-life products or rebranding of facilities due to market consolidation. Service revenues also include software as a service (“SaaS”) fees, which are recurring revenues generated through our Nokē Smart Entry platform and trucking terminal renovation, construction, remodeling, and maintenance services provided to certain trucking customers. Revenues are monitored and analyzed as a function of sales reporting within the following sales channels: new construction, R3, and commercial and other.

Previous wording

Product Cost of Revenues. Product costs of revenues includes the manufacturing cost of our steel roll-up and swing doors, rolling steel doors, steel structures, and hallway systems which primarily consists of amounts paid to our third-party contract suppliers and personnel-related costs directly associated with manufacturing operations, depreciation on certain assets, as well as other overhead and indirect costs. Our product cost of revenues includes warranty costs, excess and obsolete inventory charges, shipping costs, cost of spare or replacement parts, and an allocated portion of overhead costs, including depreciation. Product costs of revenues also include all costs affiliated with erecting a self-storage facility for our customers. We expect our product cost of revenues to correlate with our product revenues.

Current wording

Product Cost of Revenues. Product cost of revenues includes the manufacturing cost of our steel roll-up and swing doors, rolling steel doors, steel structures, and hallway systems which primarily consists of amounts paid to our third-party contract suppliers and personnel-related costs directly associated with manufacturing operations, depreciation on certain assets, as well as other overhead and indirect costs. Our product cost of revenues includes warranty costs, excess and obsolete inventory charges, shipping costs, cost of spare or replacement parts, and an allocated portion of overhead costs, including depreciation. Product costs of revenues also include all costs affiliated with erecting a self-storage facility for our customers. We expect our product cost of revenues to correlate with our product revenues.

Previous wording

The following tables set forth key performance measures for the three and six month periods ended July 4, 2026 and June 28, 2025:

Current wording

The following tables set forth key performance measures for the three and nine month periods ended October 3, 2026 and September 27, 2025:

Previous wording

Adjusted EBITDA decreased by $8.8 or 18.0% and by $14.2 or 16.2% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025. Adjusted EBITDA as a percentage of revenue decreased by 4.3% and 3.9% for the three and six month periods ended July 4, 2026, respectively. These decreases were primarily attributable to a decline in organic revenues from pricing pressures in conjunction with loss of leverage on our fixed costs as well as higher steel prices. (See “Non-GAAP Financial Measures” section).

Current wording

Adjusted EBITDA decreased by $9.6 or 22.0% and by $23.8 or 18.2% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025. Adjusted EBITDA as a percentage of revenue decreased by 3.9% for each of the three and nine month periods ended October 3, 2026. These decreases were primarily attributable to a decline in organic revenues from pricing pressures in conjunction with loss of leverage on our fixed costs as well as higher steel prices. (See “Non-GAAP Financial Measures” section).

Previous wording

Our largest individual raw material expenditure is steel coils. Fluctuations in the prices of steel coil are generally beyond our control and have a direct impact on the financial results. We enter into agreements with large suppliers in order to lock in steel coil prices for part of our production needs. These agreements are renewed annually and partially mitigate the potential impacts of short-term steel coil price fluctuations. These arrangements allow us to purchase quantities of product within specified ranges as outlined in the contracts.

Current wording

Our largest individual raw material expenditure is steel coils. Fluctuations in the prices of steel coil are generally beyond our control and have a direct impact on the financial results. We enter into agreements with large suppliers in order to lock in steel coil prices for part of our production needs. These agreements are renewed annually and partially mitigate the potential impacts of short-term steel coil price fluctuations. These arrangements allow us to purchase quantities of product within specified ranges as outlined in the agreements.

Previous wording

Some of our products, components, and raw materials may be impacted by recent tariff announcements and restrictions on trade. On February 10, 2025, President Trump issued an executive order re-imposing 25% tariffs on steel imports from all sources under Section 232, effective March 12, 2025, ending country and product exemptions. Effective June 4, 2025, the tariffs on steel imports were increased to 50% for all countries other than the U.K. On February 20, 2026, the U.S. Supreme Court ruled that tariffs under the International Emergency Economic Powers Act (“IEEPA”) are unlawful. The Trump Administration responded by immediately revoking tariffs implemented under IEEPA and imposing a new 10% global tariff pursuant to Section 122 of the Trade Act of 1974, effective February 24, 2026 for a period of 150 days. While we cannot fully predict the impact of potential new tariffs on global trade and economic growth, we believe that our regional presence, strong customer relationships, and strategic approach to supplying raw materials for our operations positions us well to manage through these challenges. We actively monitor the regulatory environment and continue to make adjustments whenever necessary. Most of our steel strategically comes from domestic suppliers. We plan to continue to invest in our key strategic growth objectives while closely managing our cost structure and seeking alternative sources of supply to further reduce the impact of tariffs as appropriate. See Item 1A. Risk Factors – “Changes in U.S. trade policy and the imposition of tariffs could negatively impact our business, financial condition, and results of operations” in our Annual Report on Form 10-K for the year ended on January 3, 2026 for a further discussion on risks associated with tariffs and trade restrictions.

Current wording

Some of our products, components, and raw materials may be impacted by recent tariff announcements and restrictions on trade. On February 10, 2025, President Trump issued an executive order re-imposing 25% tariffs on steel imports from all sources under Section 232, effective March 12, 2025, ending country and product exemptions. Effective June 4, 2025, the tariffs on steel imports were increased to 50% for all countries other than the U.K. On February 20, 2026, the U.S. Supreme Court ruled that tariffs under the International Emergency Economic Powers Act (“IEEPA”) are unlawful. The Trump Administration responded by immediately revoking tariffs implemented under IEEPA and imposing a new 10% global tariff pursuant to Section 122 of the Trade Act of 1974, effective February 24, 2026 for a period of 150 days. While we cannot fully predict the impact of potential new tariffs on global trade and economic growth, we believe that our regional presence, strong customer relationships, and strategic approach to supplying raw materials for our operations positions us well to manage through these challenges. We actively monitor the regulatory environment and continue to make adjustments whenever necessary. Strategically, most of our steel comes from domestic suppliers. We plan to continue to invest in our key strategic growth objectives while closely managing our cost structure and seeking alternative sources of supply to further reduce the impact of tariffs as appropriate. See Item 1A. Risk Factors – “Changes in U.S. trade policy and the imposition of tariffs could negatively impact our business, financial condition, and results of operations” in our Annual Report on Form 10-K for the year ended on January 3, 2026 for a further discussion on risks associated with tariffs and trade restrictions.

Previous wording

The period to period comparisons of our results of operations have been prepared using the historical periods included in our Unaudited Condensed Consolidated Financial Statements. The following discussion should be read in conjunction with the Unaudited Condensed Consolidated Financial Statements and related notes included elsewhere in this document. The following tables set forth our results of operations for the periods presented in dollars and as a percentage of total revenue.

Current wording

Condensed Consolidated Financial Statements. The following discussion should be read in conjunction with the Unaudited Condensed Consolidated Financial Statements and related notes included elsewhere in this document. The following tables set forth our results of operations for the periods presented in dollars and as a percentage of total revenue.

Previous wording

R3 revenues increased by $3.5 or 6.6% and by $3.7 or 3.3% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025 driven by increases in door replacements and redevelopment activity, as well as increases in conversion and expansion activity.

Current wording

R3 revenues decreased by $6.1 or 10.6% and by $2.3 or 1.4% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025 driven by decreases in door replacements and redevelopment activity, as well as decreases in conversion and expansion activity as a result of elevated interest rates and higher input costs.

Previous wording

Commercial and other revenues decreased by $17.2 or 21.2% and by $17.9 or 12.1% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, driven by continued softness in demand for commercial sheet doors and project delays, partially offset by strength in rolling steel.

Current wording

Commercial and other revenues increased by $1.5 or 2.3% and decreased by $16.6 or 7.8% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025. The increase in the three month period was driven by freight terminal activity. The decrease in the nine month period was driven by continued softness in demand for commercial sheet doors partially offset by strength in rolling steel.

Previous wording

Total cost of revenues increased by $18.3 or 13.6% and by $37.2 or 14.1% for the three and six month periods ended July 4, 2026, respectively, compared to the three and six month periods ended June 28, 2025. The increases in product cost of revenues of $20.5 and $41.0 for the three and six month periods ended July 4, 2026, respectively, were primarily attributable to the Kiwi II acquisition as well as higher steel prices and freight costs on the organic business. The $2.2 and $3.8 decreases in service cost of revenues for the three and six month periods ended July 4, 2026 were primarily attributable to the decline in service revenues.

Current wording

Total cost of revenues increased by $9.0 or 6.7% and by $46.2 or 11.6% for the three and nine month periods ended October 3, 2026, respectively, compared to the three and nine month periods ended September 27, 2025. The increases in product cost of revenues for the three and nine month periods were primarily attributable to the Kiwi II acquisition as well as higher steel prices and freight costs, which were partially offset by declines in volume in our organic business. The increases in service cost of revenues for the three and nine month periods ended October 3, 2026 were generally aligned with the change in service revenues.

Previous wording

General and administrative expenses increased $2.2 or 6.0% and $6.5 or 8.9% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, respectively. The increase for the three and six month periods is primarily attributable to non-cash amortization expense related to the Kiwi II Acquisition, which were offset by decreases in employee related costs from the organic business from our ongoing restructuring initiatives.

Current wording

General and administrative expenses increased $4.8 or 12.3% and $11.0 or 9.2% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, respectively. The increases for the three and nine month periods were primarily attributable to non-cash amortization expense related to the Kiwi II Acquisition and the shortened lives of certain intangible assets along with increased facility costs, which were partially offset by decreases in employee related costs within the organic business from our ongoing restructuring initiatives.

Previous wording

Income tax expense decreased by $4.0 or 62.5% and by $6.3 or 57.3% for the three and six month periods ended July 4, 2026. The changes for both periods are primarily attributable to the decrease in income before taxes.

Current wording

Income tax expense decreased by $6.4 or 104.9% and by $12.7 or 74.3% for the three and nine month periods ended October 3, 2026. The changes for both periods are primarily attributable to the decrease in income before taxes.

Previous wording

The $10.0 or 48.3% and $20.6 or 65.4% decrease in net income for three and six month periods ended July 4, 2026 as compared to the three and six month periods ended June 28, 2025, respectively, is primarily attributable to declines in organic revenues along with increases in cost of revenues and operating expenses for the three and six month periods ended July 4, 2026.

Current wording

The $28.5 or 187.5% and $49.1 or 105.1% change in net loss for the three and nine month periods ended October 3, 2026 as compared to net income in the three and nine month periods ended September 27, 2025, respectively, is primarily attributable to declines in organic revenues along with increases in cost of revenues and operating expenses, as well as $18.3 in non-cash impairment for the three and nine month periods ended October 3, 2026.

Previous wording

R3 sales increased by $4.5 or 9.1% and by $3.9 or 3.6% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025. The R3 sales increase was driven by increases in door replacements and redevelopment activity, as well as increases in conversion and expansion activity.

Current wording

R3 sales decreased by $4.0 or 7.4% and by $0.1 or 0.1% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025. The R3 sales decrease was driven by decreases in door replacements and redevelopment activity, as well as decreases in conversion and expansion activity as a result of elevated interest rates and higher input costs.

Previous wording

Commercial and other sales decreased by $17.3 or 21.1% and $19.0 or 12.6% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, respectively. These decreases were driven by continued softness in demand for commercial sheet doors and project delays, partially offset by strength in rolling steel.

Current wording

Commercial and other sales increased by $1.0 or 1.5% and decreased by $18.1 or 8.4% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, respectively. The increase in the three month period was driven by freight terminal activity. The decrease in the nine month period was driven by continued softness in demand for commercial sheet doors partially offset by strength in rolling steel.

Previous wording

The $15.6 or 13.6% and $28.5 or 12.5% increase in cost of revenues for the three and six month periods periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, respectively, were primarily attributable to the Kiwi II acquisition as well as higher steel prices and freight costs on the organic business. The $2.1 and $3.8 decreases in service cost of revenues for the three and six month periods ended July 4, 2026 was primarily attributable to the decline in service revenue.

Current wording

The $7.4 or 6.5% and $35.9 or 10.5% increase in cost of revenues for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, respectively, were primarily attributable to the Kiwi II acquisition as well as higher steel prices and freight costs, which were partially offset by declines in volume in our organic business. The $5.2 and $1.4 increases in service cost of revenues for the three and nine month periods ended October 3, 2026 were generally aligned with the change in service revenues.

Previous wording

General and administrative expenses increased $1.7 or 4.2% and $6.2 or 7.7% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, respectively. The increase for the three and six month periods is primarily attributable to non-cash amortization expense related to the Kiwi II Acquisition, which were offset by decreases in employee related costs from the organic business from our ongoing restructuring initiatives.

Current wording

General and administrative expenses increased $5.6 or 16.2% and $12.1 or 11.2% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, respectively. The increases for the three and nine month periods were primarily attributable to non-cash amortization expense related to the Kiwi II Acquisition and increased facility costs which were partially offset by decreases in employee related costs from the organic business from our ongoing restructuring initiatives.

Previous wording

Income from operations decreased by $15.9 or 47.9% and by $28.8 or 49.4% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, respectively. These decreases were primarily attributable to declines in gross margins and operating expenses for the three and six month periods ended July 4, 2026.

Current wording

(Loss) income from operations decreased by $36.2 or 130.2% and by $65.0 or 75.5% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, respectively. These decreases were primarily attributable to declines in gross margins as well as increases in operating expenses and $18.3 in non-cash impairment for the three and nine month periods ended October 3, 2026.

Previous wording

Adjusted EBITDA decreased by $8.4 or 18.8% and by $13.8 or 16.9% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, primarily attributable to declines in organic revenue from pricing pressures in conjunction with loss of leverage on our fixed costs.

Current wording

Adjusted EBITDA decreased by $10.9 or 26.7% and by $24.7 or 20.1% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, primarily attributable to the continuation of organic volume declines associated with uncertainty in the macroeconomic environment, sustained elevated interest rates, along with lower housing churn.

Previous wording

Results of Operations - Janus International - For the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025:

Current wording

Results of Operations - Janus International - For the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025:

Previous wording

Revenues increased $2.7 or 9.5% and $8.8 or 17.7% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025. The increase for the three month period ended July 4, 2026 is due to an increase in volume as well as favorable currency activity compared to the prior year. The increase for the six month period is due to an increase in volume as compared to prior year.

Current wording

Revenues increased $1.7 or 6.0% and $10.5 or 13.5% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025. These increases are due to an increase in volume as well as favorable currency activity compared to the prior year.

Previous wording

The following table illustrates the revenues by sales channel for the three and six month periods ended July 4, 2026 and June 28, 2025.

Current wording

The following table illustrates the revenues by sales channel for the three and nine month periods ended October 3, 2026 and September 27, 2025.

Previous wording

New construction sales increased by $3.7 or 14.7% and $8.9 or 19.8% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, respectively. These increases are due to increased volume as compared to prior year.

Current wording

New construction sales increased by $3.8 or 15.2% and $12.7 or 18.1% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, respectively. These increases are due to increased volume as compared to prior year.

Previous wording

Cost of revenues increased by $2.6 or 12.7% and $7.7 or 20.7% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025, respectively. The change in cost of revenues is driven by the aforementioned changes in revenue.

Current wording

Cost of revenues increased by $1.1 or 5.3% and $8.8 or 15.1% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025, respectively. The change in cost of revenues is driven by the aforementioned changes in revenue.

Previous wording

General and administrative expenses decreased $0.5 or 13.2% and $0.3 or 4.3% for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025. This is primarily attributable to decreases in employee related costs from our previous restructuring initiatives.

Current wording

General and administrative expenses decreased $0.8 or 17.8% and $1.1 or 9.6% for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025. This is primarily attributable to decreases in employee related costs from our previous restructuring initiatives.

Previous wording

Income from operations increased from $2.8 to $3.3 and from $3.1 to $4.2 for the three and six month periods ended July 4, 2026 compared to the three and six month periods ended June 28, 2025. The increase for the periods is primarily due to an increase in sales volume.

Current wording

Income from operations increased from $1.5 to $2.9 and from $4.6 to $7.1 for the three and nine month periods ended October 3, 2026 compared to the three and nine month periods ended September 27, 2025. The increase for the periods is primarily attributable to an increase in sales volume.

Previous wording

Eliminations include transactions to account for intercompany activity. The eliminations necessary to arrive at consolidated financial information activity for the three and six month periods ended July 4, 2026 and June 28, 2025 are as follows:

Current wording

Eliminations include transactions to account for intercompany activity. The eliminations necessary to arrive at consolidated financial information activity for the three and nine month periods ended October 3, 2026 and September 27, 2025 are as follows:

Previous wording

(1)Represents the original issuance date for the First Lien Credit and Guarantee Agreement, dated as of February 12, 2018 (as amended to date, the “First Lien Term Loan”). Subsequent to the original issuance of the First Lien Term Loan, we have amended the First Lien Term Loan on a number of occasions, including most recently on February 2, 2026 when we completed a repricing pursuant to the 2026 Repricing Amendment described below.

Current wording

(1)Represents the modified issuance date for the First Lien Credit and Guarantee Agreement, originally dated as of February 12, 2018 (as amended to date, the “First Lien Term Loan”). Subsequent to the original issuance of the First Lien Term Loan, we have amended the First Lien Term Loan on a number of occasions, including most recently on February 2, 2026 when we completed a repricing pursuant to the 2026 Repricing Amendment described below.

Previous wording

(2)The interest rate on the 2026 Repricing Amendment as of July 4, 2026, was 5.62%, which is a variable rate based on Adjusted Term SOFR plus an applicable margin percent of 2.00%.

Current wording

(2)The interest rate on the 2026 Repricing Amendment as of October 3, 2026, was 5.75%, which is a variable rate based on Adjusted Term SOFR plus an applicable margin percent of 2.00%.

Previous wording

Line of Credit - We maintain a $125.0 revolving credit facility, pursuant to an ABL Credit and Guarantee Agreement (the “2023 LOC Agreement”). Interest payments with respect to the 2023 LOC Agreement are due in arrears. The maturity date is August 3, 2028. The revolving credit facility bears interest at a floating rate per annum consisting of the SOFR rate plus an applicable margin percent based on excess availability and a 10 basis points flat CSA. There was no outstanding balance on the line of credit as of July 4, 2026. As of July 4, 2026, the interest rate in effect for the facility was 5.22%. The line of credit is secured by accounts receivable and inventories. See Note 9 to our Unaudited Condensed Consolidated Financial Statements in this Form 10-Q for a further discussion.

Current wording

Line of Credit - We maintain a $125.0 revolving credit facility, pursuant to an ABL Credit and Guarantee Agreement (the “2023 LOC Agreement”). Interest payments with respect to the 2023 LOC Agreement are due in arrears. The maturity date is August 3, 2028. The revolving credit facility bears interest at a floating rate per annum consisting of the SOFR rate plus an applicable margin percent based on excess availability and a 10 basis points flat CSA. There was no outstanding balance on the line of credit as of October 3, 2026. As of October 3, 2026, the interest rate in effect for the facility was 5.35%. The line of credit is secured by accounts receivable and inventories. See Note 9 to our Unaudited Condensed Consolidated Financial Statements in this Form 10-Q for a further discussion.