Annual report [Section 13 and 15(d), not S-K Item 405]

Segments Information

v3.25.4
Segments Information
 12 Months Ended
Jan. 03, 2026
Segment Reporting [Abstract]  
Segments Information
18. Segments Information

We operate and report our results through two 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, BETCO, NOKE, ASTA, ACT, U.S. Door, 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:

(dollar amounts in millions) Janus North
America		 Janus
International		 Intersegment
eliminations		 Total
Year ended January 3, 2026
Revenues $ 783.6  $ 103.9  $ (3.3) $ 884.2 
Cost of revenues 466.7  77.8  (3.3) 541.2 
Gross profit $ 316.9  $ 26.1  $ —  $ 343.0 
Other segment items (1)
(160.3) (14.5) —  (174.8)
Adjusted EBITDA* $ 156.6  $ 11.6  $ —  $ 168.2 
(dollar amounts in millions) Janus North
America		 Janus
International		 Intersegment
eliminations		 Total
Year ended December 28, 2024
Revenues $ 892.6  $ 73.6  $ (2.4) $ 963.8 
Cost of revenues 512.8  55.6  (2.4) 566.0 
Gross profit $ 379.8  $ 18.0  $ —  $ 397.8 
Other segment items (1)
(173.5) (15.8) —  (189.3)
Adjusted EBITDA* $ 206.3  $ 2.2  $ —  $ 208.5 
(dollar amounts in millions) Janus North
America		 Janus
International		 Intersegment
eliminations		 Total
Year ended December 30, 2023
Revenues $ 985.7  $ 82.3  $ (1.6) $ 1,066.4 
Cost of revenues 560.2  58.1  (1.6) 616.7 
Gross profit $ 425.5  $ 24.2  $ —  $ 449.7 
Other segment items (1)
(149.7) (14.4) (164.1)
Adjusted EBITDA* $ 275.8  $ 9.8  $ —  $ 285.6 
(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 income to adjusted EBITDA for the periods presented:

Year Ended
(dollar amounts in millions) January 3, 2026 December 28, 2024 December 30, 2023
Consolidated reconciliation
Net income $ 53.8  $ 70.4  $ 135.7 
Interest, net 36.8  49.6  60.0 
Income taxes 22.6  29.9  47.1 
Depreciation and amortization 46.1  44.0  39.1 
Restructuring & other Adjusted EBITDA adjustments 8.9  14.6  3.7 
Adjusted EBITDA* $ 168.2  $ 208.5  $ 285.6 
* 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:

Year Ended
(dollar amounts in millions) January 3, 2026 December 28, 2024 December 30, 2023
Depreciation expense - cost of revenues
Janus North America $ 7.6  $ 6.9  $ 6.3 
Janus International 1.6  0.9  0.6 
Consolidated depreciation expense - cost of revenues $ 9.2  $ 7.8  $ 6.9 
Depreciation expense - operating expenses
Janus North America $ 3.4  $ 3.8  $ 2.0 
Janus International 0.3  0.4  0.4 
Consolidated depreciation expense - operating expenses $ 3.7  $ 4.2  $ 2.4 
Amortization of intangible assets
Janus North America $ 31.9  $ 30.5  $ 28.4 
Janus International 1.3  1.5  1.4 
Consolidated amortization expense $ 33.2  $ 32.0  $ 29.8 
Purchases of property, plant, and equipment
Janus North America $ 24.5  $ 17.2  $ 15.4 
Janus International 0.6  3.2  3.6 
Consolidated purchases of property, plant, and equipment $ 25.1  $ 20.4  $ 19.0 

(dollar amounts in millions) Janus North
America		 Janus
International		 Intersegment
eliminations		 Total
Year ended January 3, 2026
Product revenues $ 633.6  $ 56.6  $ (3.3) $ 686.9 
Service revenues 150.0  47.3  —  $ 197.3 
Total revenues $ 783.6  $ 103.9  $ (3.3) $ 884.2 
Year ended December 28, 2024
Product revenues $ 738.6  $ 43.2  $ (2.4) $ 779.4 
Service revenues 154.0  30.4  —  $ 184.4 
Total revenues $ 892.6  $ 73.6  $ (2.4) $ 963.8 
Year ended December 30, 2023
Product revenues $ 865.1  $ 46.3  $ (1.6) $ 909.8 
Service revenues 120.6  36.0  $ 156.6 
Total revenues $ 985.7  $ 82.3  $ (1.6) $ 1,066.4 
Year Ended
(dollar amounts in millions)
 January 3, 2026 December 28, 2024 December 30, 2023
Revenues by country
United States $ 779.5  $ 885.6  $ 979.4 
Other 111.3  80.6  88.6 
Eliminations (6.6) (2.4) (1.6)
Total revenues $ 884.2  $ 963.8  $ 1,066.4 

Segment information as of the periods presented is as follows:

(dollar amounts in millions)
 January 3, 2026 December 28, 2024
Identifiable assets
Janus North America $ 1,231.7  $ 1,234.6 
Janus International 73.3  66.7 
Consolidated identifiable assets $ 1,305.0  $ 1,301.3 
Property, plant, and equipment, net
Janus North America $ 58.8  $ 49.0 
Janus International 7.4  7.8 
Consolidated property, plant, and equipment, net $ 66.2  $ 56.8 

(dollar amounts in millions)
 January 3, 2026 December 28, 2024
Long-lived assets(1)
United States $ 450.8  $ 459.9 
Other 29.7  30.1 
Total long-lived assets
$ 480.5  $ 490.0 
(1)Our long-lived assets consist primarily of intangible assets, net, right-of-use assets, net, and property, plant, and equipment, net.