| Revenue Recognition Contract balances as of March 29, 2025 were as follows:
|
|
|
|
|
|
(dollar amounts in millions) |
|
Revenues in excess of billings at March 29, 2025 |
$ |
17.7 |
|
Unbilled receivables at March 29, 2025 |
10.5 |
|
Contract assets at March 29, 2025 |
$ |
28.2 |
|
|
|
Revenues in excess of billings at December 28, 2024 |
$ |
16.2 |
|
Unbilled receivables at December 28, 2024 |
7.0 |
|
Contract assets at December 28, 2024 |
$ |
23.2 |
|
|
|
Contract liabilities at December 28, 2024 |
$ |
17.9 |
|
Contract liabilities at March 29, 2025 |
$ |
17.9 |
|
During the quarter ended March 29, 2025, the Company recognized revenue of approximately $9.0 related to contract liabilities at December 28, 2024.
Disaggregation of Revenue
The principal categories we use to disaggregate revenues are by timing and sales channel of revenue recognition. The following disaggregation of revenues depicts the Company’s reportable segment revenues by timing and sales channel of revenue recognition for the three month periods ended March 29, 2025 and March 30, 2024:
Revenue by Timing of Revenue Recognition
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in millions) |
|
Three Months Ended |
Reportable Segments by Timing of Revenue Recognition |
|
March 29, 2025 |
|
March 30, 2024 |
Janus North America |
|
|
|
|
| Product revenues transferred at a point in time |
|
$ |
143.1 |
|
|
$ |
174.2 |
|
| Product revenues transferred over time |
|
12.9 |
|
|
32.7 |
|
| Service revenues transferred over time |
|
34.7 |
|
|
33.6 |
|
|
|
$ |
190.7 |
|
|
$ |
240.5 |
|
Janus International |
|
|
|
|
| Product revenues transferred at a point in time |
|
$ |
11.7 |
|
|
$ |
8.9 |
|
| Service revenues transferred over time |
|
9.5 |
|
|
5.8 |
|
|
|
$ |
21.2 |
|
|
$ |
14.7 |
|
| Eliminations |
|
(1.4) |
|
|
(0.7) |
|
Total Revenue |
|
$ |
210.5
|
|
|
$ |
254.5
|
|
Revenue by Sales Channel
|
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in millions) |
Three Months Ended |
Reportable Segments by Sales Channel Revenue Recognition |
March 29, 2025 |
|
March 30, 2024 |
Janus North America |
|
|
|
Self-storage - new construction |
$ |
67.0 |
|
|
$ |
104.2 |
|
Self-storage - R3 |
55.7 |
|
|
68.3 |
|
Commercial and others |
68.0 |
|
|
68.0 |
|
|
$ |
190.7 |
|
|
$ |
240.5 |
|
Janus International |
|
|
|
Self-storage - new construction |
$ |
19.9 |
|
|
$ |
12.4 |
|
Self-storage - R3 |
1.3 |
|
|
2.3 |
|
|
$ |
21.2 |
|
|
$ |
14.7 |
|
| Eliminations |
(1.4) |
|
|
(0.7) |
|
Total Revenue |
$ |
210.5
|
|
|
$ |
254.5
|
|
|