Exhibit 99.1




Delivered strong double-digit year over year growth in revenues and Adjusted EBITDA

Completed business combination with Juniper Industrial Holdings and began trading on the New York Stock Exchange

Announced highly strategic acquisition of DBCI, a leading complementary specialty building products solutions provider

TEMPLE, GA, August 10, 2021 – Janus International Group, Inc. (NYSE: JBI) (“Janus” or the “Company”), a leading provider of cutting-edge access control technologies and building product solutions for the self-storage and other commercial and industrial sectors, today announced financial results for the second quarter of 2021.

Second Quarter 2021 Highlights



Revenues of $174.2 million, a 42.5% increase compared to the second quarter of 2020, driven primarily by strong performance in the commercial (69% increase quarter over quarter) and R3 —self storage (62% increase quarter over quarter) sales channels, which was partially bolstered by COVID-related recoveries across all end markets.



Net income of $1.1 million, a decrease from $11.0 million in the second quarter of 2020. The year over year decrease was driven primarily by costs related to the consummation of the completed business combination, increased raw material, labor and logistics costs and higher income taxes.



Adjusted net income (defined as net income plus the corresponding add-backs shown in the Adjusted EBITDA reconciliation tables below) of $17.3 million, an increase from $11.3 million in the second quarter of 2020. The year over year increase was driven primarily by higher revenue and lower interest expense, partially offset by increased raw material, labor and logistics costs coupled with higher income tax expense.



Adjusted EBITDA of $35.9 million, a 26.0% increase compared to the second quarter of 2020, driven by higher revenues, partially offset by inflationary pressures from raw materials, labor, logistics, and strategic investments to support growth. The Company has taken actions to offset the inflationary effects through both commercial and cost containment initiatives. The Company also experienced incremental costs associated with being a public company, keeping employees safe as a result of COVID-19, higher headcount due to strategic investments behind the new Facilitate initiatives, and the continued build out of the Nokē Smart Entry ground game and customer service department.



Operating cash flow of $44.8 million modestly declined from the second quarter of 2020 reflecting investments in working capital to support the continued growth of the business.

Ramey Jackson, Chief Executive Officer, stated, “The second quarter of 2021 was a transformative period for Janus, where we executed on our business plan while simultaneously closing our merger with Juniper Industrial Holdings to become a publicly traded company. Our top line and EBITDA growth reflect our strong position in our improving end markets. And while we were impacted by the same inflationary pressures the entire industry has seen in raw material, labor and logistics, Janus has taken actions to offset the inflationary effects through commercial and cost containment initiatives that we expect will positively impact our results over the coming quarters.”

Mr. Jackson continued, “Janus continues to be well positioned with a combination of best in class products in the self-storage industry and an exciting mix of technology-driven new products for further growth. The demand outlook for our products in self-storage and the commercial and industrial markets remains strong.



Now that we are a public company, we are even better positioned to execute on all of these value-enhancing opportunities. We also look to grow via opportunistic M&A, as highlighted by our recently announced agreement to acquire DBCI, a leading provider of steel roll-up doors and building products. We are particularly excited about this acquisition, which is expected to complement our product offerings and begin positively contributing to our results upon its expected closing in the third quarter of 2021.”

2021 Financial Outlook:

Based on the Company’s current business outlook, excluding the DBCI acquisition, Janus is providing the following 2021 guidance:



Revenue in a range of $672 million to $692 million.



Management Adjusted EBITDA in a range of $156 million to $162 million.

These preliminary results are derived from preliminary internal financial information and are subject to revision. The estimates set forth above were prepared by the Company’s management and are based upon a number of assumptions. See “Forward-Looking Statements.”

As part of this release, Janus is providing an Adjusted EBITDA reconciliation that compares the company’s previously released outlook (on a “Management Adjusted EBITDA” basis) to the Adjusted EBITDA reported in public filings. Management Adjusted EBITDA excludes sponsor management fees, acquisition expenses, Nokē-related startup costs, and other non-recurring expenses. Beginning in full-year 2022, the company expects there to be minimal ongoing differences between Adjusted EBITDA and Management Adjusted EBITDA and therefore currently anticipates reporting only Adjusted EBITDA for 2022 and beyond.

Conference Call and Webcast

The Company will host a conference call and webcast to review second quarter results, discuss recent events and conduct a question-and-answer session on Tuesday, August 10, 2021, at 10:00 a.m. Eastern time. The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company’s website at www.janusintl.com. For those unable to access the webcast, the conference call will be accessible domestically or internationally, by dialing 1-877-407-0789 or 1-201-689-8562, respectively. Upon dialing in, please request to join the Janus International Group Second Quarter 2021 Earnings Conference Call. To access the replay of the call, dial 1-844-512-2921 (Domestic) and 1-412-317-6671 (International) with pass code 13722239.

About Janus International Group

Janus International Group, Inc. (www.JanusIntl.com) is a global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including: roll-up and swing doors, hallway systems, re-locatable storage units and facility and door automation technologies. The Janus team operates out of several U.S. locations and six locations internationally.

Forward Looking Statements

Certain statements in this communication, including the estimated guidance provided under “2021 Financial Outlook” herein, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this communication are forward-looking statements, including, but not limited to statements regarding Janus’ positioning in the industry to strengthen its pipeline and deliver on its objectives and Janus’ belief regarding the demand outlook for Janus’ products and the strength of the industrials markets. When used in this communication, words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions, as they relate to the management team, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Janus’ management, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements.



In addition to factors previously disclosed in Janus’ reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks of the self-storage industry; (ii) the highly competitive nature of the self-storage industry and Janus’ ability to compete therein;; and (iii) the risk that the demand outlook for Janus’ products may not be as strong as anticipated.

There can be no assurance that the events, results, trends or guidance regarding financial outlook identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Janus is not under any obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Janus and is not intended to form the basis of an investment decision in Janus. All subsequent written and oral forward-looking statements concerning Janus or other matters and attributable to Janus or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and under the heading “Risk Factors” in Janus’ final prospectus filed with the SEC on August 6, 2021 and in Janus’ other filings.

Non-GAAP Financial Measure

Janus uses 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.

Adjusted EBITDA is a non-GAAP financial measure used by Janus to evaluate its operating performance, generate future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. Accordingly, Janus believes Adjusted EBITDA provides useful information to investors and others in understanding and evaluating Janus’ operating results in the same manner as its management and board of directors and in comparison with Janus’ peer group companies. In addition, Adjusted EBITDA provides useful measures for period-to-period comparisons of Janus’ business, as they remove the effect of certain non-recurring events and other non-recurring charges, such as acquisitions, and certain variable or non-recurring charges. Adjusted EBITDA is defined as net income excluding interest expense, income taxes, depreciation expense, amortization, and other non-operational, non-recurring items.

Adjusted EBITDA should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA rather than net income (loss), which is the nearest GAAP equivalent of Adjusted EBITDA. These limitations include that the non-GAAP financial measures: exclude depreciation and amortization, and although these are non-cash expenses, the assets being depreciated may be replaced in the future; do not reflect interest expense, or the cash requirements necessary to service interest on debt, which reduces cash available; do not reflect the provision for or benefit from income tax that may result in payments that reduce cash



available; exclude non-recurring items (i.e., the extinguishment of debt); and may not be comparable to similar non-GAAP financial measures used by other companies, because the expenses and other items that Janus excludes in the calculation of these non-GAAP financial measures may differ from the expenses and other items, if any, that other companies may exclude from these non-GAAP financial measures when they report their operating results. Because of these limitations, these non-GAAP financial measures should be considered along with other operating and financial performance measures presented in accordance with GAAP.



Janus International Group, Inc.

Consolidated Statements of Operations and Comprehensive Income (Loss)


     Three Months Ended     Six Months Ended  
     June 26, 2021     June 27, 2020     June 26, 2021     June 27, 2020  
     (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)  



Sales of product

   $ 140,556,306   $ 95,425,815   $ 262,252,532   $ 203,536,725

Sales of services

     33,626,083     26,803,808     64,754,124     56,506,693













Total revenue

     174,182,389     122,229,623     327,006,657     260,043,418

Cost of Sales

     114,987,977     77,449,920     214,518,947     167,180,130














     59,194,412     44,779,703     112,487,710     92,863,288



Selling and marketing

     10,382,169     7,717,283     19,840,296     17,977,566

General and administrative

     34,471,523     16,931,440     54,057,831     34,566,666













Operating Expenses

     44,853,692     24,648,723     73,898,127     52,544,232














     14,340,720     20,130,980     38,589,583     40,319,056

Interest expense

     (7,475,727     (8,737,328     (15,601,797     (18,678,476

Other income (expense)

     (920,003     23,884     (2,478,869     99,211

Change in fair value of derivative warrant liabilities

     (1,928,500           (1,928,500      













Other Expense, Net

     (10,324,230     (8,713,444     (20,009,166     (18,579,265














     4,016,490     11,417,535     18,580,417     21,739,791

Provision for Income Taxes

     2,893,283     400,067     2,738,389     770,292














   $ 1,123,207   $ 11,017,468   $ 15,842,028   $ 20,969,499













Other Comprehensive Income (Loss)

     (37,082     (226,575     273,686     (3,758,060














   $ 1,086,125   $ 10,790,893   $ 16,115,714   $ 17,211,439













Net income attributable to common stockholders

   $ 1,123,207   $ 11,017,468   $ 15,842,028   $ 20,969,499













Weighted-average shares outstanding, basic and diluted (Note 15)



     81,009,261     65,819,588     73,577,447     66,876,683


     81,624,496     65,819,588     73,879,851     66,876,683

Net income per share, basic and diluted (Note 15)



   $ 0.01   $ 0.17   $ 0.22   $ 0.31


   $ 0.01   $ 0.17   $ 0.21   $ 0.31



Janus International Group, Inc.

Consolidated Balance Sheets


     June 26,     December 26,  
     2021     2020  



Current Assets



   $ 15,287,621   $ 45,254,655

Accounts receivable, less allowance for doubtful accounts; $3,819,000 and $4,485,000, at June 26, 2021 and December 26, 2020, respectively

     79,557,005     75,135,295

Costs and estimated earnings in excess of billing on uncompleted contracts

     16,614,552     11,398,934

Inventory, net

     36,289,253     25,281,521

Prepaid expenses

     8,443,195     5,949,711

Other current assets

     2,322,802     5,192,386







Total current assets

   $ 158,514,428   $ 168,212,502

Property and equipment, net

     31,682,826     30,970,507

Customer relationships, net

     297,563,142     309,472,398

Tradename and trademarks

     85,819,442     85,597,528

Other intangibles, net

     16,627,892     17,387,745


     260,275,193     259,422,822

Deferred tax asset

     78,435,843     —    

Other assets

     1,759,222     2,415,243







Total assets

   $ 930,677,988   $ 873,478,745









Current Liabilities


Accounts payable

   $ 45,316,067   $ 29,889,057

Billing in excess of costs and estimated earnings on uncompleted contracts

     21,612,809     21,525,319

Current maturities of long-term debt

     6,346,071     6,523,417

Other accrued expenses

     48,357,979     37,164,627







Total current liabilities

   $ 121,632,926   $ 95,102,420

Long-term debt, net

     557,574,245     617,604,254

Deferred tax liability

     14,577,682     15,268,131

Derivative warrant liability

     39,077,500     —    

Other long-term liabilities

     2,885,875     4,631,115







Total liabilities

   $ 735,748,228   $ 732,605,920









Common Stock, 825,000,000 shares authorized, $.0001 par value, 138,384,250 and 66,145,633 shares issued and outstanding at June 26, 2021 and December 26, 2020, respectively

     13,838     6,615

Additional paid in capital

     231,406,515     189,298,544

Accumulated other comprehensive income (loss)

     46,526     (227,160

Accumulated deficit

     (36,537,119     (48,205,174







Total stockholders’ equity

   $ 194,929,760   $  140,872,825







Total liabilities and stockholders’ equity

   $ 930,677,988   $ 873,478,745









Janus International Group, Inc.

Consolidated Statements of Cash Flows


     Six Months Ended  
     June 26, 2021     June 27, 2020  
     (Unaudited)     (Unaudited)  

Cash Flows Provided By Operating Activities


Net income

   $ 15,842,028   $ 20,969,499

Adjustments to reconcile net income to net cash provided by operating activities



     2,979,336     2,832,701

Intangible amortization

     13,622,957     13,395,767

Deferred finance fee amortization

     1,486,634     1,609,125

Share based compensation

     2,111,099     57,659

Loss on extinguishment of debt

     2,414,854     —    

Change in fair value of contingent consideration

     686,700     —    

Loss on sale of assets

     43,091     18,487

Change in fair value of derivative warrant liabilities

     1,928,500     —    

Undistributed (earnings) losses of affiliate

     (105,107     12,125

Deferred income taxes

     (767,658     —    

Changes in operating assets and liabilities


Accounts receivable

     (4,421,710     2,114,772

Costs and estimated earnings in excess of billings and billings in excess of costs and estimated earnings on uncompleted contracts

     (5,215,618     8,717,983

Prepaid expenses and other current assets

     (2,945,823     (2,498,675


     (11,007,730     (655,990

Accounts payable

     15,393,047     441,237

Other accrued expenses

     14,116,513     2,076,616

Other assets and long-term liabilities

     (1,338,231     1,442,694







Net Cash Provided By Operating Activities

     44,822,882     50,534,000







Cash Flows Used In Investing Activities


Proceeds from sale of equipment

     79,409     6,083

Purchases of property and equipment

     (3,992,533     (3,801,552

Cash paid for acquisition, net of cash acquired

     (1,564,957     (4,592,779







Net Cash Used In Investing Activities

     (5,478,081     (8,388,248







Cash Flows Used In Financing Activities


Distributions to Janus Midco LLC unitholders

     (4,173,973     (339,982

Principal payments on long-term debt

     (63,238,000     (4,205,693

Proceeds from merger

     334,873,727     —    

Proceeds from PIPE

     250,000,000     —    

Payments for transaction costs, net

     (44,489,256     —    

Payments to Janus Midco, LLC unitholders at the business combination

     (541,710,278     —    

Payments for deferred financing fees

     (765,090     —    







Cash Used In Financing Activities

   $ (69,502,870   $ (4,545,675







Effect of exchange rate changes on cash and cash equivalents

     191,035     (1,091,444







Net (Decrease) Increase in Cash and Cash Equivalents

   $ (29,967,034   $ 36,508,633







Cash and Cash Equivalents, Beginning of Fiscal Year

   $ 45,254,655   $ 19,905,598







Cash and Cash Equivalents as of June 26, 2021 and June 27, 2020

   $ 15,287,621   $ 56,414,231







Supplemental Cash Flows Information


Interest paid

   $ 16,847,651   $ 12,233,825

Income taxes paid

   $ 773,608   $ 537,810

Fair value of earnout

   $ 686,700   $ —  

Fair value of warrants

   $ 1,928,500   $ —  



Janus International Group, Inc.

Reconciliation of Net Income to Adjusted EBITDA


     Three Months               
     Period ended
June 26,
     Period ended
June 27,
     $     %  

Net Income

   $ 1,123,207    $ 11,017,468    $ (9,894,262     (89.8 )% 

Interest Expense

     7,475,727      8,737,328      (1,261,601     (14.4 )% 

Income Taxes

     2,893,283        400,067      2,493,216     623.2


     1,506,337      1,402,779      103,558     7.4


     6,790,812      6,686,217      104,595     1.6














   $ 19,789,366    $ 28,243,859    $ (8,454,494     (29.9 )% 

Loss (gain) on extinguishment of debt(2)

     993,562      —          993,562     —  

COVID-19 related expenses(3)

     12,808        265,738      (252,930     (95.2 )% 

Transaction related expenses(4)

     10,398,423        —          10,398,423     —  

Facility relocation(5)

     50,692        —          50,692     —  

Share-based compensation(6)

     2,059,223      —          2,059,223     —  

Change in fair value of contingent consideration(7)

     686,700      —          686,700     —  

Change in fair value of derivative warrant liabilities(8)

     1,928,500      —          1,928,500     —  













Adjusted EBITDA

   $ 35,919,274    $ 28,509,597    $ 7,409,676     26.0














     Six Months               
     Period ended
June 26,
     Period ended
June 27,
     $     %  

Net Income

   $ 15,842,028    $ 20,969,499    $ (5,127,471     (24.5 )% 

Interest Expense

     15,601,797      18,678,476      (3,076,679     (16.5 )% 

Income Taxes

     2,738,389        770,292        1,968,097     255.5


     2,979,336      2,832,701      146,635     5.2


     13,622,957      13,395,767      227,190     1.7














   $ 50,784,507    $ 56,646,735    $ (5,862,228     (10.3 )% 

BETCO transition fee(1)

     —          15,000        (15,000     (100.0 )% 

Loss (gain) on extinguishment of debt(2)

     2,414,854      —          2,414,854     —  

COVID-19 related expenses(3)

     209,263        265,738        (56,475     (21.3 )% 

Transaction related expenses(4)

     10,398,423        —          10,398,423     —  

Facility relocation(5)

     67,645        —          67,645     —  

Share-based compensation(6)

     2,059,223      —          2,059,223     —  

Change in fair value of contingent consideration(7)

     686,700      —          686,700     —  

Change in fair value of derivative warrant liabilities(8)

     1,928,500         1,928,500     —  













Adjusted EBITDA

   $ 68,549,115    $ 56,927,473    $ 11,621,642     20.4















Retainer fee paid to former BETCO owner, during the transition to a new President to run the business and related one-time-consulting fee.


Adjustment for loss (gain) on extinguishment of debt regarding the write off of unamortized fees and third-party fees as a result of the debt modification completed in February 2021 and the prepayment of debt in the amount of $61.6 million that occurred on June 7, 2021 in conjunction with the Business Combination. See Liquidity and Capital Resources section.




Expenses which are one-time and non-recurring related to the COVID-19 pandemic. See Impact of COVID-19 section.


Transaction related expenses incurred as a result of the Business Combination on June 7, 2021 which consist of employee bonuses and the transaction cost allocation.


Expenses related to the facility relocation for Steel Storage.


Share-based compensation expense associated with Midco, LLC Class B Common units that fully vested at the date of the Business Combination.


Adjustment related to the change in fair value of contingent consideration related to the earnout of the 2,000,000 common stock shares that were issued and released on June 21, 2021.


Adjustment related to the change in fair value of derivative warrant liabilities for the private placement warrants.

Janus International Group, Inc.

Adjusted EBITDA to Management Adjusted EBITDA Reconciliation

(In millions)


     Twelve Months Ended      Three Months Ended      Twelve Months Ended      Three Months Ended     Twelve Months Ended  
     June 26, 2021      June 26, 2021      March 27, 2021      March 27, 2021     December 26, 2020     December 28,
     December 29, 2018  
     (Unaudited)      (Unaudited)      (Unaudited)      (Unaudited)     (Unaudited)     (Unaudited)      (Unaudited)  

Net Income

   $ 51.1      $ 1.1      $ 62.7      $ 14.7     $ 56.8     $ 34.3      $ 7.6  

Interest Expense

     32.9        7.5        34.2        8.1       36.0       42.6        34.5  

Tax Expense/ (Benefit) (1)

     4.6        2.9        2.0        (0.2     2.1       —          1.8  

Depreciation and Amortization

     33.4        8.3        31.7        8.3       32.9       41.1        63.7  

EBITDA Adjustments (2)

     15.9        16.1        0.5        1.6       (1.6     4.3        6.5  






















Non-GAAP Adjusted EBITDA (3)

     138.0        35.9        131.1        32.6       126.2       122.3        114.1  

Management Fee (4)

     7.3        1.2        7.7        1.8       7.6       7.4        6.1  

Acquisition Expense (5)

     1.2        1.0        0.2        —         0.3       1.1        4.2  

Non-Recurring Other (6)

     3.6        0.4        4.0        0.3       5.2       6.0        —    

Noke Startup (7)

     4.6        1.3        4.4        1.2       4.2       3.5        —    






















Management Adjusted EBITDA

   $ 154.6      $ 39.8      $ 147.4      $ 36.0     $ 143.5     $ 140.3      $ 124.4  



Prior to the SPAC Merger, Janus was registered as an LLC (pass-through tax entity)


Refer to SEC public filings Non-GAAP Financial Measures Section for detailed breakout


Reconciles to SEC reported Adjusted EBITDA


Quarterly management fee paid to unitholders


Transaction expenses associated with recent acquisitions


Consists of other non-recurring items such as professional services and other one-time expenses


One-time expenses associated with Nokē Smart Entry product launch

Investor Contacts, Janus

Rodny Nacier / Dan Scott


(770) 562-6399

Media Contacts, Janus

Bethany Morehouse

Marketing Content Manager, Janus International



Margot Olcay, ICR