Janus International Group, Inc.

Janus International Group, Inc.

Condensed Consolidated Balance Sheets

(amounts in millions, except share and per share data - Unaudited)

Janus International Group, Inc.

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income

(amounts in millions, except share and per share data - Unaudited)

See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements.

Janus International Group, Inc.

Condensed Consolidated Statements of Changes in Stockholders’ Equity

(amounts in millions, except share data - Unaudited)

Janus International Group, Inc.

Condensed Consolidated Statements of Changes in Stockholders’ Equity

(amounts in millions, except share data - Unaudited)

Total shares issued are the aggregate of Common Stock outstanding and Treasury Shares.

(dollar amounts in millions, except per share data)

1. Nature of Operations

Janus International Group, Inc. is a holding company incorporated in Delaware. References to “Janus,” “Group,” “Company,” “we,” “our” or “us” refer to Janus International Group, Inc. and its consolidated subsidiaries. We are a global manufacturer, supplier, and provider of turn-key self-storage, commercial, and industrial building solutions. We provide facility and door automation and access control technologies, roll up and swing doors, hallway systems, relocatable storage “MASS” (Moveable Additional Storage Structures) units, and trucking terminal renovation, remodeling, and maintenance services, among other solutions, to serve several U.S. and international locations. We work with our customers throughout every phase of a project by providing solutions, including facility planning and design, construction, technology, and the restoration, rebuilding, and replacement (“R3”) of self-storage facilities and damaged or end-of-life products.

We are headquartered in Temple, Georgia, with operations in the United States of America (“United States” or “U.S.”), United Kingdom (“U.K.”), Australia, France, Spain, Canada, Poland, China, and India. Janus International Group, Inc. is a holding company with no operations other than global management of certain operating entities, including Janus International Group, LLC. Janus Intermediate, LLC is a holding company with no other operations, cash flows, material assets, or liabilities other than the equity interests held in Janus International Group, LLC. We provide products and services through ourtwo operating and reportable segments, which are based on the geographic region of our operations: (i) Janus North America and (ii) Janus International. Our Janus North America segment is comprised of Janus International Group, LLC (“Janus Core”), together with each of its operating subsidiaries, Nokē, Inc. (“NOKE”), Asta Industries, Inc. (“ASTA”), Access Control Technologies, LLC (“ACT”), Janus Door, LLC (“Janus Door”), Steel Door Depot.com, LLC (“Steel Door Depot”), Janus International Canada, Ltd. (“Janus Canada”), and Terminal Door, LLC (“Terminal Door”). Janus Core includes our Kiwi II Construction, BETCO, and DBCI branded offerings. Our Janus International segment is comprised of Janus International Europe Holdings Ltd. (“Janus Europe Holdings”) and its subsidiaries, Janus International Australia Pty Ltd (“Janus Australia”), Janus International Europe Ltd (“Janus Europe”), Janus International France SARL (“Janus France”), and Janus International Poland sp. z.o.o (“Janus Poland”), whose production and sales are largely in Europe, the U.K., and Australia. Our common stock currently trades on the New York Stock Exchange under the symbol “JBI”.

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the applicable rules and regulations of the SEC. These Unaudited Condensed Consolidated Financial Statements do not include all information required by U.S. GAAP for complete financial statements and should be read in conjunction with the Audited Consolidated Financial Statements and notes that are included in the Company’s Annual Report on Form 10-K, for the year ended January 3, 2026. In our opinion, all normal and recurring adjustments that we consider necessary for a fair financial statement presentation have been made. The dollar amounts in the Notes to Unaudited Condensed Consolidated Financial Statements are shown in U.S. dollars and presented in millions and rounded to the nearest tenth of a million, unless otherwise noted, except for share and per share amounts.

Principles of Consolidation

The Unaudited Condensed Consolidated Financial Statements include our accounts and those of our wholly owned subsidiaries. Our joint ventures are accounted for under the equity method of accounting. All significant intercompany accounts and transactions have been eliminated in consolidation.

Reclassifications

Certain items have been reclassified in the prior year financial statements to conform to the presentation and classifications used in the current

year.

During 2026, we made a voluntary change in the presentation of certain contracts within our International segment that were previously classified as service revenue and service cost of revenues to product revenue and product cost of revenues. We believe the reclassification is a better depiction of how the business is managed and aligns with the global presentation of these types of contracts. We have reflected the changes in the currently reported figures for the three and nine month periods ended October 3, 2026 and have applied the changes retrospectively to the previously reported figures shown in the tables below for the three and nine month periods ended September 27, 2025. This change had no impact on our previously reported total revenues, cost of revenues, net income, gross profit, income from operations, earnings per share, retained earnings, net assets or cash flows.

Use of Estimates in the Consolidated Financial Statements

The preparation of Unaudited Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Items subject to such estimates and assumptions include, but are not limited to, income taxes and the effective tax rates, inventory basis adjustments, the fair value of assets, liabilities, and assumptions related to business combinations, the recognition and valuation of share-based compensation arrangements, the useful lives of property, plant, and equipment, the useful lives of intangible assets, the commencement date of leases, the incremental borrowing rate used to calculate lease liabilities, estimated progress toward completion for certain revenue contracts, allowance for credit losses, fair values and impairment of intangible assets and goodwill.

Significant Accounting Policies

Our significant accounting policies have not changed materially from those described in our Annual Report on Form 10-K for the fiscal year ended January 3, 2026.

Cash and Cash Equivalents

Cash and cash equivalents include short-term highly liquid investments that are readily convertible to known amounts of cash and have maturities of three months or less from the date of purchase. Interest income on cash equivalents is offset against interest expense on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. Interest income was $0.8 and $1.6 for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and $2.4 and $3.9 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively.

Accounts Receivable and Allowance for Credit Losses

Accounts receivable primarily arise from the sale of products and services to customers. Accounts receivable are recorded at the invoiced amount and do not bear interest. Additionally, accounts receivable are stated at estimated net realizable value, net of allowance for credit losses, which is based on our assessment of the collectability of customer accounts.

The activity for the allowance for credit losses during the nine month periods ended October 3, 2026 and September 27, 2025 is as follows:

Revenue Recognition

We recognize revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers” (“ASC 606”). We account for a contract with a customer when both parties have approved the contract and are committed to perform their respective obligations, each party’s rights and payment terms can be identified, the contract has commercial substance, and it is probable that we will collect substantially all of the consideration to which we are entitled.

Revenue is recognized when, or as, performance obligations are satisfied by transferring control of a promised good or service to a customer. A performance obligation is a promise to transfer a distinct good or service to the customer and is the unit of account.

Our performance obligations primarily include:

•Product revenues – Product revenues are recognized at a point in time when control transfers to the customer or over time as the steel structure is being constructed at the customer site.

•Service revenues – Service revenues are recognized over time as the customer simultaneously receives and consumes the benefits provided by the Company. Service revenues include certain construction, installation, and remodeling services. It also includes subscription services that are recognized over time as customers receive continuous access to the software and technical support.

Revenues transferred at a point-in-time accounted for 61% and 66% of total revenues for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and 59% and 67% of total revenues for the nine month periods ended October 3, 2026 and September 27, 2025, respectively.

Revenues transferred over time accounted for 39% and 34% of total revenues for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and 41% and 33% of total revenues for the nine month periods ended October 3, 2026 and September 27, 2025, respectively.

We enter into certain contracts with customers that may include multiple performance obligations. For contracts with multiple performance obligations, the transaction price is allocated based on the standalone selling price.

For certain revenue recognized over time, we utilize the cost-to-cost input method as it provides the most accurate measure of when goods and services are transferred to the customer. Under this method, we estimate the costs to complete individual contracts and recognize revenue proportionately to the total contract price deemed complete, based on the relationship of costs incurred to date to total anticipated costs.

For performance obligations that are not complete at the reporting date, we recognize contract assets or contract liabilities. Contract assets include unbilled receivables and revenues in excess of billings and represent the rights to consideration in exchange for goods or services that we have transferred to a customer. Unbilled receivables arise when revenue is recognized at a point in time before invoicing, representing an unconditional right to payment subject primarily to the passage of time. Revenues in excess of billings result from over-time revenue recognition, where we have an unconditional right to payment. Both unbilled receivables and revenues in excess of billings are recognized as accounts receivable when billed. Contract liabilities result from performance obligations recognized over time and represent the net balance of billings that already occurred in excess of revenue that was recognized. If a down payment is received from a customer before a project becomes active, it is recorded as a customer deposit within accrued expenses and other current liabilities.

Our payment terms are generally up to 90 days on an open account. These payment terms are customary for the industry and, in some cases, may include early payment incentives. Our contracts typically have durations of less than one year and do not contain significant financing components. We have elected to account for shipping and handling as activities to fulfill the promise to transfer the good rather than a promised service. As a result, shipping and handling costs are recorded as expenses in the same period the revenue is recognized. Sales taxes collected from customers are excluded from revenue and recorded as a liability until remitted to the appropriate tax authorities. Additionally, commissions paid to internal and external sales representatives for obtaining contracts are expensed as incurred, as our contracts are generally short-term in nature.

Product Warranties

We record a liability for product warranties at the time of the related sale of goods. The liability is estimated using historical warranty experience, projected claim rates and expected costs per claim. We adjust our liability for specific warranty matters when they become known and the exposure can be estimated. Product failure rates as well as material usage and labor costs incurred in correcting a product failure affect our warranty liabilities. If actual costs differ from estimated costs, we must make a revision to the warranty liability. Generally, we offer warranties ranging betweenone andthree years for our products with the exception of warranties for roofing at one of our business units, where we offer warranties of up to 10 years.

The activity related to product warranty liabilities recorded in accrued expenses and other current liabilities during the nine month periods ended October 3, 2026 and September 27, 2025, is as follows:

(dollar amounts in millions)

Fair Value Measurement

We use valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. A three-tiered hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value. This hierarchy requires that we use observable market data, when available, and minimize the use of unobservable inputs when determining fair value:

•Level 1, observable inputs such as quoted prices in active markets;

•Level 2, inputs other than the quoted prices in active markets that are observable either directly or indirectly;

•Level 3, unobservable inputs in which there is little or no market data, which requires that the Company develop its own assumptions.

The fair value of cash and cash equivalents, accounts receivable less allowance for credit losses, and accounts payable approximate the carrying amounts due to the short-term maturities of these instruments. The fair value of our debt is estimated using fair value-based risk measurements that are indirectly observable, such as credit risk that falls within Level 2 of the Fair Value hierarchy. Our debt approximates its carrying amount as of October 3, 2026 and January 3, 2026 due to its variable interest rate that is tied to the current Secured Overnight Financing Rate (“SOFR”) rate plus an applicable margin (see Notes 9 and 10 to our Unaudited Condensed Consolidated Financial Statements in this Form 10-Q for a further discussion of our debt).

Concentrations of Risk

Financial instruments that are potentially subject to concentration of credit risk consist primarily of cash and accounts receivable. We maintain cash in bank deposit accounts that, at times, may exceed the insured limits of the local country. We have not experienced any losses in such accounts. We sell our products and services mainly in the United States of America, Europe and Australia. We perform ongoing evaluations of our customers’ financial condition and limit the amount of credit extended when deemed necessary. We generally do not require our customers to provide collateral or other security to support accounts receivable.

For the three and nine month periods ended October 3, 2026, there were no customers that represented more than 10% of accounts receivable or more than 10% of revenues. For the three month period ended October 3, 2026, we had one vendor that accounted for 14% of all raw material and finished goods purchases. This vendor provides raw materials to us which can be sourced by alternative vendors should the need arise.

Segments

We manage our operations throughtwo operating and reportable segments: Janus North America and Janus International. These segments align our product and service offerings based on the geographic location between North America and International locations, which is consistent with how our Chief Operating Decision Maker (“CODM”) reviews and evaluates our operations. The CODM allocates resources and evaluates the financial performance of each operating segment. Our segments are strategic businesses that are managed separately because each one develops, manufactures and markets distinct products and services. Refer to Note 17, Segments Information, for further details.

Governmental Grants

We account for the receipt of governmental grants, including various tax credits in accordance with International Accounting Standards (“IAS”) 20, as there is no prevailing specific U.S. GAAP guidance. Grants are recognized in our financial statements on a systematic basis over the period that we incur the related costs that the grants are intended to compensate. We account for income related grants, by presenting them as other income or deduct them from the associated expense, such as a payroll tax credit. We account for asset-related grants by presenting them as either deferred income or by deducting the grant from the asset's carrying amount. We recognize governmental grants in the financial statements when reasonable assurance of two qualifications are met, that being 1) that the conditions of the grant are met and 2) we determine it probable that the grant will be received. For the nine months ended October 3, 2026, we have recognized approximately $4.0 in governmental grants as a reduction to “General and administrative expenses” in our Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income.

Tariff Refunds

Commencing in February 2025, the U.S. government implemented tariffs of at least 10% on goods imported from nearly all countries pursuant to the International Emergency Economic Powers Act (“IEEPA”). In February 2026, the U.S. Supreme Court ruled that these tariffs imposed under IEEPA were invalid. Subsequently, the U.S. Court of International Trade ruled that the collected tariffs in question must be refunded in accordance with the law. The U.S. Customs and Border Protection has issued an official notice and launched a special tariff refund program to facilitate such refunds. We have initiated the process of requesting refunds for IEEPA tariffs paid. We applied the loss recovery model and determined the expected receipt of the refund of the previously paid IEEPA tariffs is probable. We have received $1.6 to date, which was recorded in the nine month period ended October 3, 2026 as a reduction to “Product cost of revenues” in our Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income.

Recently Issued Accounting Pronouncements

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures” (“ASU 2024-03”). ASU 2024-03 is intended to improve disclosures about a public business entity’s expense and provide more detailed information to investors about the types of expenses in commonly presented expense captions. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the potential impact of this guidance on our disclosures.

In December 2025, the FASB issued ASU No. 2025-10, "Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities" (“ASU 2025-10”). The FASB issued ASU 2025-10 to establish authoritative guidance on the accounting for government grants received by business entities. ASU 2025-10 is effective for our annual periods beginning after December 15, 2028. Early adoption is permitted. We are currently assessing the potential impact of this guidance on our consolidated financial statements and disclosures.

Although there are several other new accounting pronouncements issued or proposed by the FASB, which have been adopted or will be adopted as applicable, we do not believe any of these accounting pronouncements have had or will have a material impact on our consolidated financial position or results of operations.

3. Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using actual costs determined on a first-in, first-out basis or average cost. Labor and overhead costs associated with inventory produced are capitalized into inventories. The major components of inventories are as follows for the periods presented:

4. Property, Plant, and Equipment, net

Property, plant, and equipment, net are as follows for the periods presented:

Depreciation expense included in cost of revenues was approximately $2.3 for each of the three month periods ended October 3, 2026 and September 27, 2025 and $7.2 and $6.4 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively. Depreciation expense included in operating expenses was $1.3 and $0.9 for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and $3.6 and $2.7 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively.

5. Leases

We primarily lease certain office and manufacturing facilities, as well as vehicles, copiers, and other equipment. These leases generally have an original lease term between 1 year and 20 years, and some include multiple options to extend (generally in increments of 5 to 10 years). Lease agreements generally do not include material variable lease payments, residual value guarantees, or restrictive covenants.

The components of right-of-use assets and lease liabilities were as follows for the periods presented:

The components of lease expense were as follows for the periods presented:

Other information related to leases was as follows for the periods presented:

As of October 3, 2026, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:

As of October 3, 2026, future minimum repayments of finance leases were as follows:

Sublease

During the three month period ended October 3, 2026, we entered into a sublease agreement for the entirety of our leased ASTA Houston manufacturing facility that covers the entirety of the original lease term through 2034. We remain the primary obligor under the original lease agreement and we classified the sublease agreement as an operating lease under ASC 842. Sublease income during the three and nine month periods ended October 3, 2026 was $0.1 and was recorded within cost of revenues in the Unaudited Condensed Consolidated Statement of Operations.

As of October 3, 2026, future minimum sublease income was as follows:

6. Business Combination

Kiwi II Asset Acquisition

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. We accounted for this acquisition as a business combination. There were no material measurement period adjustments made during the three and nine months ended October 3, 2026. Acquisition-related costs were expensed as incurred in fiscal 2025 and were not material.

The following tables summarize the fair value of consideration transferred and the recognized amount of identified assets acquired, and liabilities assumed at the date of acquisition:

We recognized goodwill related to the Kiwi II Acquisition of $44.4. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expected synergies and economies of scale, none of which qualify for recognition as a separate intangible asset. The goodwill is expected to be deductible for tax purposes.

The following table sets forth the components of identifiable intangible assets acquired as of the date of the Kiwi II Acquisition, and the related weighted average amortization period:

Results of Acquired Operations

The results of the acquired operations of Kiwi II have been included in our Unaudited Condensed Consolidated Financial Statements since the acquisition date of January 8, 2026.

For the period from July 5, 2026 through October 3, 2026 and from January 8, 2026 through October 3, 2026, Kiwi II contributed revenues of $10.7 and $48.0 and net loss of $10.8 and $16.1, respectively, inclusive of amortization of acquired identified intangible assets and impairment of goodwill. We did not present pro-forma revenues or net income for the prior three and nine month periods ended September 27, 2025 as we consider these to be immaterial.

7. Acquired Intangible Assets and Goodwill

Intangible assets acquired in a business combination are recognized at fair value and amortized over their estimated useful lives. The carrying amount and accumulated amortization of recognized intangible assets are as follows for the periods presented:

Changes in the gross carrying amount of recognized intangible assets are due to the Kiwi II acquisition, BETCO reclassification and translation adjustments and include a loss of $0.2 and a gain of $1.0 for the periods ended October 3, 2026 and January 3, 2026, respectively. The amortization of intangible assets is included in general and administrative expense on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. Amortization expense was approximately $15.1 and $8.3 for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and was approximately $39.1 and $24.8 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively.

Change in Useful Lives of Intangible Assets

BETCO

During the quarter ended October 3, 2026, we changed the useful life of our BETCO tradename, which had previously been classified as an indefinite-lived intangible asset. As a result of our ongoing integration initiatives and branding strategy, we concluded that a foreseeable limit now exists on the period over which the tradename is expected to contribute to future cash flows. In accordance with Accounting Standards Codification (“ASC”) 350 Goodwill and Other, we evaluated the tradename for impairment immediately prior to the change in classification and determined the tradename was not impaired. Following the assessment, we changed the BETCO tradename’s classification to a definite life and we will amortize the remaining $5.4 carrying value over a period ofthree years. Amortization expense associated with this tradename was $0.5 during each of the three and nine month periods ended October 3, 2026.

Noke

During the quarter ended October 3, 2026, we changed the useful life of our Noke software development intangible assets that were acquired in 2018 as part of the business combination. These assets had an initial 15 year useful life; and the 7.5 year remaining useful life was condensed to 18 months as of the beginning of our fiscal third quarter. At the time of reassessment, these assets had a carrying value of $8.7. Incremental amortization expense associated with this change in useful life of these assets was $1.2 during each of the three month and nine month periods ended October 3, 2026.

As a result of these changes in useful lives, during the three and nine month periods ended October 3, 2026, we incurred an increase in amortization of $1.7, which resulted in a corresponding increase in net loss or a $0.01 in basic and diluted EPS.

Goodwill

The changes in the carrying amounts of goodwill are as follows for the periods presented:

Goodwill and Indefinite-Life Intangible Impairment

We test goodwill and indefinite lived intangibles for impairment on an annual basis and between annual tests if an event occurs or circumstances change (a “triggering event”) that would more likely than not reduce the fair value of a reporting unit below its carrying value. We considered the decline in overall operating results to date, unfavorable changes in forecasted results, and other macroeconomic factors as indicators that an impairment loss may have occurred. Therefore, we performed an interim quantitative impairment assessment using a combination of the discounted cash flow method and guideline public company method as of October 3, 2026, for each of our reporting units, as well as our indefinite-lived intangible assets using the relief-from-royalty method. We applied our best estimates for assumptions regarding future revenues, anticipated margins, discount rates, and long-term growth rates to estimate the fair value of our reporting units.

Based on the results of this assessment, the estimated fair value of our BETCO and Kiwi II reporting units were determined to be less than their respective carrying values. As such, we recognized goodwill impairment charges of $5.0 to our BETCO reporting unit and $7.4 to our Kiwi II reporting unit during the three and nine month periods ended October 3, 2026. Following the impairment, the carrying value of goodwill associated with our BETCO and Kiwi II reporting units were $17.7 and $37.0, respectively. We also determined that our DBCI and ACT tradename indefinite-lived intangible asset fair values were less than their respective carrying values. As such, we recognized impairment charges of $5.9 on our DBCI and ACT tradenames. Following the impairment, the carrying value of our DBCI tradename was $4.1 and our ACT tradename had a carrying value ofzero.

We identified two reporting units’ goodwill balances for which the fair values were not substantially in excess of their carrying value. Our Janus Core reporting unit had a fair value in excess of its carrying value of $257.3 by 18.0%. Our TMC reporting unit had a fair value in excess of its carrying value of $53.9, by 18.1%. We identified one tradename for which the fair value was not substantially in excess of its carrying value. Our Janus Core tradename had a fair value in excess of its carrying value of $66.8, by 12.3%.

8. Accrued Expenses and Other Current Liabilities

Accrued Expenses and Other Current Liabilities are summarized as follows for the periods presented:

(1)Other liabilities as of October 3, 2026 and January 3, 2026 consist of property tax, credit card, and various other accruals.

9. Line of Credit

2023 ABL Credit and Guarantee Agreement- 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 interest rate on the facility is based on a base rate, unless we choose an Adjusted Term SOFR Rate (as defined in the 2023 LOC Agreement). If the Adjusted Term SOFR Rate is elected, the interest rate is equal to the Adjusted Term SOFR Rate, which includes a 10 basis points flat CSA, plus the SOFR Margin (as defined in the 2023 LOC Agreement) of either 1.25%,1.50%, or 1.75%, based on the Average Excess Availability (as defined in the 2023 LOC Agreement). As of October 3, 2026, the SOFR Margin Rate was 1.50%. As of October 3, 2026 and January 3, 2026, the interest rate in effect for the facility was 5.35% and 5.42%, respectively. The line of credit is collateralized by accounts receivable and inventories. We accrue an unused commitment fee to the administrative agent at the varying rate of 0.25% to 0.38%, based on the unused portion of the maximum commitment, as defined in the 2023 LOC Agreement.

Amortization of deferred financing fees of approximately $0.1 was recognized for each of the three month periods ended October 3, 2026 and September 27, 2025 and $0.2 was recognized for each of the nine month periods ended October 3, 2026 and September 27, 2025. The unamortized portion of the fees as of October 3, 2026 and January 3, 2026, was approximately $0.5 and $0.6, respectively. There wereno borrowings outstanding on the line of credit as of October 3, 2026 and January 3, 2026.

As of October 3, 2026, and January 3, 2026, we maintained one letter of credit totaling approximately $0.5 and $0.4, respectively, on which there were no balances due. The amount available on the line of credit as of October 3, 2026 and January 3, 2026 was approximately $73.8 and $66.1, respectively.

10. Long-Term Debt

Long-term debt consists of the following for the periods presented:

Notes Payable - First Lien - On April 30, 2024, we completed a repricing pursuant to Amendment No. 7 (the “Repricing Amendment”) to the First Lien Credit and Guarantee Agreement, dated as of February 12, 2018 (as amended to date, the “First Lien Term Loan”). The Repricing Amendment reduced the applicable interest rate margins on the $600.0 First Lien Term Loan from 2.00% to 1.50% for the term loans bearing interest at rates based on the base rate, and from 3.00% to 2.50% for the term loans bearing interest at rates based on the secured overnight financing rate. In addition to the change in the applicable margin rate, we are no longer subject to a CSA rate of 0.10%.

On February 2, 2026, we completed a repricing pursuant to Amendment No. 8 (the “2026 Repricing Amendment”) to the First Lien Term Loan. The 2026 Repricing Amendment reduces the applicable interest rate margins on the First Lien’s term loans by 50 basis points to 1.00% (for the term loans bearing interest at rates based on the base rate) and to 2.00% (for the term loans bearing interest at rates based on the secured overnight financing rate).

Interest is payable in arrears (with respect to Base Rate loans) or at the end of an interest period selected by us (with respect to SOFR loans). The outstanding loan balance is to be repaid on a quarterly basis in an amount equal to 0.25% of the original balance of the amended loan, with the remaining principal due on the maturity date of August 3, 2030. The debt is secured by substantially all of our business assets. There are no prepayment penalties if we make voluntary prepayments on the outstanding principal balance. The interest rate on the First Lien Term Loan as of October 3, 2026 was 5.75%.

We wrote off $1.0 of unamortized debt financing costs associated with the First Lien Term Loan prior to the 2026 Repricing Amendment that were deemed extinguished and recognized within “Loss on extinguishment and modification of debt” on the Unaudited Condensed Consolidated Statement of Operations and Comprehensive (Loss) Income. In conjunction with the 2026 Repricing Amendment, we incurred $1.1 of costs from third parties that did not qualify for capitalization of deferred financing costs, and were expensed within “Loss on extinguishment and modification of debt” on the Unaudited Condensed Consolidated Statement of Operations and Comprehensive (Loss) Income.

During the three month period ended October 3, 2026, we made a voluntary prepayment of $30.0 toward the First Lien Term Loan. We used cash on hand to make the voluntary prepayment. As a result of the prepayment, we expensed an additional $0.3 of the unamortized debt issuance costs that were being amortized over the expected life of the loan.

Amortization of deferred loan costs is included in interest expense on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. Amortization of approximately $0.6 and $1.4 was recognized for the three and nine month periods ended October 3, 2026, respectively, as a component of interest expense. Amortization of approximately $0.4 and $1.9 was recognized for the three and nine month periods ended September 27, 2025, respectively, as a component of interest expense. These amounts are inclusive of the additional costs affiliated with voluntary prepayment of principal balances.

11. Equity Compensation

2021 Omnibus Incentive Plan

We maintain our 2021 Omnibus Incentive Plan (the “Plan”) under which we grant share-based awards to eligible directors, officers and employees in order to attract, retain, and reward such individuals and strengthen the mutuality of interest between such individuals and our stockholders. The Plan allows us to issue and grant 15,125,000 shares.

We measure compensation expense for share-based awards in accordance with ASC Topic 718, “Compensation – Stock Compensation” (“ASC 718”). During the three month period ended October 3, 2026, we granted share-based awards including restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”) under the Plan. The grant date fair value of RSUs and PSUs is equal to the closing price of our common stock on either: (i) the date of grant; or (ii) the previous trading day, depending on the level of administration required. Forfeitures are recognized as they occur. Unvested RSUs, PSUs, or stock options are forfeited upon a “Termination of Service,” as defined in the Plan, or as otherwise provided in the applicable award agreement or determined by the Compensation Committee of the Board of Directors (the “Compensation Committee”). Share-based compensation expense is recognized straight-line over the respective vesting periods, reduced for actual forfeitures and is included in general and administrative expense in the accompanying Consolidated Statement of Operations and Comprehensive Income.

In connection with the equity awards, the share-based compensation expense was $3.7 and $3.5 for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and $12.2 and $11.9 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively. The income tax benefit from share-based compensation was $1.4 and $0.4 for the three month periods ended October 3, 2026 and September 27, 2025, and $2.6 and $1.3 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively.

Restricted Stock Unit Grants

RSUs are subject to a vesting period betweenone andfour years. RSU activity for the nine month period ended October 3, 2026 is as follows:

(1) This amount includes 1,806,570 RSUs granted in conjunction with the Kiwi II acquisition during the period ended April 4, 2026.

Total compensation expense related to the above awards was approximately $3.4 and $3.1 for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and $11.5 and $9.5 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively. As of October 3, 2026, there was an aggregate of $22.8 of unrecognized expense related to the RSUs granted, which we expect to amortize over a weighted-average period of 2.1 years.

Performance-based Restricted Stock Unit Grants

PSU awards are based on the satisfaction of ourtwo-year orthree-year cumulative financial targets. The number of PSUs that can be earned range from 0% and 200% of the original target number of PSUs. PSUs are subject to atwo-year orthree-year performance cliff-vesting period.

PSU activity for the nine month period ended October 3, 2026 is as follows:

(1)This amount includes 215,845 performance stock units, which are projected to payout at 0% due to performance results from previously-granted PSU awards in fiscal year 2024.

Total compensation expense related to the PSUs was approximately $0.3 and $0.2 for the three month periods ended October 3, 2026 and September 27, 2025, respectively, and $0.7 and $2.1 for the nine month periods ended October 3, 2026 and September 27, 2025, respectively. As of October 3, 2026, there was an aggregate of $2.6 of unrecognized expense related to the PSUs granted, which we expect to amortize over a weighted average period of 1.0 year.

The above table represents PSUs assuming 100% of target payout at the time of the grant for the unvested units.

12. Restructuring

During fiscal year 2024, we initiated a multi-phase restructuring plan to improve our operational efficiencies to support our corporate strategy. We incur costs associated with restructuring initiatives intended to improve operating performance, profitability, and efficiency of business processes. Restructuring expenses include severance costs, relocation costs, recruiting fees affiliated with hiring new personnel, legal costs, gain/loss on disposal of assets on closed facilities, and contract cancellation costs.

We record restructuring charges when they are probable and estimable. Restructuring costs are accrued upon announcement of the facility closure or restructuring event, and the amounts can be reasonably estimated. Restructuring costs are included in cost of revenues and general and administrative expenses on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income.

Our restructuring expenses are comprised of the following for the periods presented:

The following tables summarize the changes in the accrued restructuring balance, which are included in accrued expenses and other current liabilities in the accompanying Unaudited Condensed Consolidated Balance Sheets.

13. Revenue Recognition

Contract balances as of October 3, 2026 and January 3, 2026 were as follows:

During the three and nine month periods ended October 3, 2026, we recognized revenue of approximately $1.1 and $15.0, respectively, related to contract liabilities at January 3, 2026.

Disaggregation of Revenue

We disaggregate revenue by reportable segment and by sales channel of revenue recognition. The following disaggregation of revenue depicts our reportable segment revenues by sales channel of revenue recognition for the periods presented:

Revenue by Sales Channel

14. Income Taxes

We are taxed as a Corporation under Subchapter C in the U.S. We also file in U.S. state and local jurisdictions and in other countries where we have operations. Our effective tax rate is based on pre-tax earnings, enacted U.S. statutory tax rates, non-deductible expenses, and certain tax rate differences between U.S. and foreign jurisdictions. Our foreign subsidiaries file income tax returns in local country jurisdictions as required. The U.K., France, and Australia entities are included on U.S. tax returns as pass-through entities.

We account for income taxes in accordance with FASB ASC 740, “Income Taxes” (“ASC 740”). While we generally measure our income tax provision for interim periods using an estimate of our annual effective tax rate, we measured our income tax provision for the three and nine months ended October 3, 2026 using the actual year-to-date method. We used this method primarily because a small change in our forecasted income (loss) before taxes can have a significant impact on the annualized effective tax rate and we thus believe using the actual year-to-date method for this specific period more accurately reflects our tax provision as is consistent with guidance in ASC 740. Our provision for income taxes consists of provisions for federal, state, and foreign income taxes. Deferred tax liabilities and assets attributable to different tax jurisdictions are not offset in the Unaudited Condensed Consolidated Financial Statements.

During the three month periods ended October 3, 2026 and September 27, 2025, we recorded a total income tax (benefit) provision of approximately $(0.3) and $6.1 on pre-tax (loss) income of $(13.6) and $21.3 resulting in an effective tax rate of 2.2% and 28.6%, respectively. During the nine month periods ended October 3, 2026 and September 27, 2025, we recorded a total income tax provision of approximately $4.4 and $17.1 on pre-tax income of $2.0 and $63.8 resulting in an effective tax rate of 220.0% and 26.8%, respectively. For the three and nine month periods ended October 3, 2026, the effective tax rate was primarily impacted by the impairment of non-deductible goodwill, non-deductible executive compensation, statutory rate differentials and other permanent items. For the three and nine month periods ended September 27, 2025, the effective tax rate was primarily impacted by the change in statutory rate differentials, changes in estimated state income tax and apportionment rates, and permanent differences.

15. Net (Loss) Income Per Share

Basic net (loss) income per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is computed based on the weighted average number of common stock outstanding plus the effect of dilutive potential common stock outstanding during the period using the treasury stock method. For the three and nine month periods ended October 3, 2026, we reported a net loss, therefore dilutive earnings per share (“EPS”) excluded 121,717 and 231,020 shares, respectively, as their effect would be anti-dilutive. For the three and nine month periods ended September 27, 2025, dilutive potential common shares include stock options and unvested RSUs.

The following table sets forth the computation of basic and diluted EPS attributable to common stockholders for the periods presented:

16. Share Repurchase Program

During 2024, our Board of Directors authorized a share repurchase program, pursuant to which we were authorized to purchase up to $100.0 of our common stock. During 2025, our Board of Directors authorized an increase of $75.0 to our share repurchase program. The repurchase authorization does not have an expiration date and may be terminated by our Board of Directors at any time. As of October 3, 2026, there is $38.1 remaining under the share repurchase program.

The Inflation Reduction Act of 2022 imposes a 1% excise tax on share repurchases in excess of issuances, which is effective for share repurchases completed after December 31, 2022. We reflect the excise tax within equity as part of the repurchase of the common stock.

The following table presents the share repurchase activity for the periods presented:

17. Segments Information

We operate and report our results throughtwo geographic-based reportable segments: Janus North America and Janus International, in accordance with ASC Topic 280, “Segment Reporting”.

•The Janus North America segment is comprised of the following entities: Janus Core, (which includes our Kiwi II Construction, BETCO, and DBCI branded offerings), NOKE, ASTA, ACT, Janus Door, Steel Door Depot, Janus Canada, and Terminal Door.

•The Janus International reportable segment is comprised of Janus Europe Holdings and its subsidiaries with its production and sales located primarily in U.K., Australia, Poland, and France.

This segment structure reflects how the Company’s Chief Executive Officer (“CEO”), who has been identified as the CODM, evaluates performance and allocates resources. Key business strategies, strategic objectives, and competitive decisions are determined at the geographical level (North America and International) rather than by product lines, functional divisions, or business units. The CEO primarily assesses segment performance and allocates resources, including personnel, property, and financial or capital resources, using gross profit and Adjusted EBITDA. Budget-to-actual variances are reviewed monthly to assess performance and allocate resources.

Adjusted EBITDA is defined as net income excluding interest expense, income taxes, depreciation expense, amortization, and other non-operational, non-recurring items. We use Adjusted EBITDA, a non-GAAP financial measure, to assess operating performance, develop future operating plans, and make strategic decisions related to operating expenses and resource allocation, among others.

The following table presents segment revenue, gross profit, and Adjusted EBITDA for the periods presented:

(1)Other segment items included in Adjusted EBITDA primarily include selling and marketing expense and general and administrative expense.

• We use measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis.

The following table presents a reconciliation of reportable segment net (loss) income to Adjusted EBITDA for the periods presented:

• We use measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis.

Segment information for the periods presented is as follows:

Segment information as of the periods presented is as follows:

18. Commitments and Contingencies

Accounting principles generally accepted in the United States of America require disclosure of certain significant estimates and current vulnerabilities due to certain commitments and contingencies. Those matters include the following:

General Litigation

We are subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows.

Self-Insurance

Under our workers’ compensation insurance program, coverage is obtained for catastrophic exposures under which we retain a portion of certain expected losses. We have stop loss workers’ compensation insurance for claims in excess of $0.2 as of both October 3, 2026 and January 3, 2026. Provision for losses expected under this program are recorded based upon estimates of the aggregate liability for claims incurred but not reported, which totaled approximately $0.3 and $0.5 as of October 3, 2026 and January 3, 2026, respectively. The amount of actual losses incurred could differ materially from the estimates reflected in these Unaudited Condensed Consolidated Financial Statements.

Under our health insurance program, coverage is obtained for catastrophic exposures under which we retain a portion of certain expected losses. We have stop loss insurance for claims in excess of $0.4 as of both October 3, 2026 and January 3, 2026. Provision for losses expected under this program are recorded based upon estimates of the aggregate liability for claims incurred but not reported, which totaled approximately $1.0 and $1.7 as of October 3, 2026 and January 3, 2026, respectively. The amount of actual losses incurred could differ materially from the estimates reflected in these Unaudited Condensed Consolidated Financial Statements.