JAKKS Pacific 2026 年第二季度财报：玩具/消费产品部门净销售额增长 21.3%

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark one)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 001-35448

JAKKS Pacific, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware 95-4527222

(State or Other Jurisdiction of

Incorporation or Organization) (I.R.S. Employer

Identification No.)

2951 28th Street Santa Monica, California 90405

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code: (424) 268-9444

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☒

Non-accelerated filer ☐ Smaller reporting company ☒

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Securities registered pursuant to Section 12(g) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock $.001 Par Value JAKK The NASDAQ Global Select Market

The number of shares outstanding of the issuer’s common stock is 11,445,012 as of July 31, 2026.

JAKKS PACIFIC, INC. AND SUBSIDIARIES

TABLE OF CONTENTS TO QUARTERLY REPORT ON FORM 10-Q

QUARTER ENDED JUNE 30, 2026

ITEMS IN FORM 10-Q

Part I FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited) 3

Condensed Consolidated Balance Sheets 3

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 4

Condensed Consolidated Statements of Stockholders’ Equity 5

Condensed Consolidated Statements of Cash Flows 6

Notes to Condensed Consolidated Financial Statements 7

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 19

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Item 4. Controls and Procedures 23

Part II OTHER INFORMATION

Item 1. Legal Proceedings 24

Item 1A. Risk Factors 24

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds None

Item 3. Defaults Upon Senior Securities None

Item 4. Mine Safety Disclosures None

Item 5. Other Information None

Item 6. Exhibits 24

Signatures 25

Exhibit 31.1

Exhibit 31.2

Exhibit 32.1

Exhibit 32.2

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

JAKKS PACIFIC, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

June 30, December 31,

2026 2025

(Unaudited)

Assets

Current assets

Cash and cash equivalents $ 59,513 $ 52,197

Restricted cash 1,132 1,869

Accounts receivable, net of allowance for credit losses of $5,100 and $5,103 at June 30, 2026 and December 31, 2025, respectively 141,272 138,341

Inventory, net 58,272 59,805

Prepaid expenses and other assets 17,899 16,873

Total current assets 278,088 269,085

Property and equipment

Office furniture and equipment 11,413 10,189

Molds and tooling 141,236 134,771

Leasehold improvements 7,289 7,264

Total 159,938 152,224

Less accumulated depreciation and amortization 136,725 133,216

Property and equipment, net 23,213 19,008

Operating lease right-of-use assets, net 40,890 46,776

Other long-term assets 1,751 2,682

Deferred income tax assets, net 69,587 69,569

Goodwill 34,964 35,077

Total assets $ 448,493 $ 442,197

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable $ 69,737 $ 55,558

Accrued expenses 47,145 43,076

Reserve for sales returns and allowances 30,849 33,569

Income taxes payable — 2,119

Short-term operating lease liabilities 14,406 13,784

Total current liabilities 162,137 148,106

Long-term operating lease liabilities 32,218 39,578

Accrued expenses – long term 5,288 4,463

Income taxes payable 975 945

Total liabilities 200,618 193,092

Stockholders’ Equity

Common stock, $0.001 par value; 100,000,000 shares authorized; 11,445,012 and 11,342,981 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 11 11

Additional paid-in capital 307,218 302,408

Accumulated deficit (45,160 ) (41,021 )

Accumulated other comprehensive loss (14,194 ) (12,293 )

Total stockholders’ equity 247,875 249,105

Total liabilities and stockholders’ equity $ 448,493 $ 442,197

See accompanying notes to condensed consolidated financial statements.

3

JAKKS PACIFIC, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(In thousands, except per share data)

Three Months Ended

June 30,

(Unaudited) Six Months Ended

June 30,

(Unaudited)

2026 2025 2026 2025

Net sales $ 139,238 $ 119,094 $ 245,914 $ 232,347

Cost of sales:

Cost of goods 68,773 58,784 120,960 113,410

Royalty expense 23,072 19,509 39,985 37,677

Amortization of tools and molds 2,432 1,778 4,402 3,224

Cost of sales 94,277 80,071 165,347 154,311

Gross profit 44,961 39,023 80,567 78,036

Direct selling expenses 8,500 6,710 16,664 15,406

General and administrative expenses 36,442 34,974 69,306 68,935

Depreciation and amortization 161 122 313 235

Selling, general and administrative expenses 45,103 41,806 86,283 84,576

Loss from operations (142 ) (2,783 ) (5,716 ) (6,540 )

Other income (expense), net 6,976 25 7,001 30

Loss on debt extinguishment — (417 ) — (417 )

Interest income 788 395 1,268 757

Interest expense (55 ) (145 ) (115 ) (300 )

Income (loss) before provision for (benefit from) income taxes 7,567 (2,925 ) 2,438 (6,470 )

Provision for (benefit from) income taxes 1,704 (606 ) 855 (1,769 )

Net income (loss) 5,863 (2,319 ) 1,583 (4,701 )

Earnings (loss) per share - basic $ 0.51 $ (0.21 ) $ 0.14 $ (0.42 )

Shares used in earnings (loss) per share - basic 11,445 11,146 11,444 11,146

Earnings (loss) per share - diluted $ 0.49 $ (0.21 ) $ 0.13 $ (0.42 )

Shares used in earnings (loss) per share - diluted 11,872 11,146 11,803 11,146

Comprehensive income (loss) $ 5,763 $ 1,318 $ (318 ) $ (436 )

See accompanying notes to condensed consolidated financial statements.

4

JAKKS PACIFIC, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands)

Three and Six Months Ended June 30, 2026

(Unaudited)

Accumulated JAKKS

Additional Other Pacific, Inc. Non- Total

Common Paid-in Accumulated Comprehensive Stockholders’ Controlling Stockholders’

Stock Capital Deficit Loss Equity Interests Equity

Balance, December 31, 2025 $ 11 $ 302,408 $ (41,021 ) $ (12,293 ) $ 249,105 $ — $ 249,105

Share-based compensation expense — 3,081 — — 3,081 — 3,081

Repurchase of common stock for employee tax withholding — (1,260 ) — — (1,260 ) — (1,260 )

Cash dividend declared, $0.25 per share — — (2,861 ) — (2,861 ) — (2,861 )

Net loss — — (4,280 ) — (4,280 ) — (4,280 )

Foreign currency translation adjustment — — — (1,801 ) (1,801 ) — (1,801 )

Balance, March 31, 2026 11 304,229 (48,162 ) (14,094 ) 241,984 — 241,984

Share-based compensation expense — 2,998 — — 2,998 — 2,998

Repurchase of common stock for employee tax withholding — (9 ) — — (9 ) — (9 )

Cash dividend declared, $0.25 per share — — (2,861 ) — (2,861 ) — (2,861 )

Net income — — 5,863 — 5,863 — 5,863

Foreign currency translation adjustment — — — (100 ) (100 ) — (100 )

Balance, June 30, 2026 $ 11 $ 307,218 $ (45,160 ) $ (14,194 ) $ 247,875 $ — $ 247,875

Three and Six Months Ended June 30, 2025

(Unaudited)

Accumulated JAKKS

Additional Other Pacific, Inc. Non- Total

Common Paid-in Accumulated Comprehensive Stockholders’ Controlling Stockholders’

Stock Capital Deficit Loss Equity Interests Equity

Balance, December 31, 2024 $ 11 $ 297,198 $ (39,692 ) $ (17,184 ) $ 240,333 $ 500 $ 240,833

Share-based compensation expense — 2,552 — — 2,552 — 2,552

Repurchase of common stock for employee tax withholding — (3,819 ) — — (3,819 ) — (3,819 )

Cash dividend declared, $0.25 per share — — (2,786 ) — (2,786 ) — (2,786 )

Net loss — — (2,382 ) — (2,382 ) — (2,382 )

Foreign currency translation adjustment — — — 628 628 — 628

Balance, March 31, 2025 11 295,931 (44,860 ) (16,556 ) 234,526 500 235,026

Share-based compensation expense — 3,188 — — 3,188 — 3,188

Repurchase of common stock for employee tax withholding — (9 ) — — (9 ) — (9 )

Cash dividend declared, $0.25 per share — — (2,786 ) — (2,786 ) — (2,786 )

Net loss — — (2,319 ) — (2,319 ) — (2,319 )

Foreign currency translation adjustment — — — 3,637 3,637 — 3,637

Balance, June 30, 2025 $ 11 $ 299,110 $ (49,965 ) $ (12,919 ) $ 236,237 $ 500 $ 236,737

See accompanying notes to condensed consolidated financial statements.

5

JAKKS PACIFIC, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

Six Months Ended

June 30,

(Unaudited)

2026 2025

Cash flows from operating activities

Net income (loss) $ 1,583 $ (4,701 )

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Provision for credit losses 137 422

Depreciation and amortization 4,715 3,459

Write-off and amortization of debt issuance costs 40 450

Share-based compensation expense 6,079 5,740

Loss on disposal of property and equipment — 31

Deferred income taxes (18 ) —

Changes in operating assets and liabilities:

Accounts receivable (3,068 ) 6,718

Inventory 1,533 (19,031 )

Prepaid expenses and other assets 406 (6,826 )

Accounts payable 15,363 6,252

Accrued expenses 4,215 (2,878 )

Reserve for sales returns and allowances (2,720 ) (6,701 )

Income taxes payable (2,089 ) (2,610 )

Other liabilities (27 ) 3,744

Total adjustments 24,566 (11,230 )

Net cash provided by (used in) operating activities 26,149 (15,931 )

Cash flows from investing activities

Purchases of property and equipment (10,104 ) (4,470 )

Investments in employee deferred compensation trusts (428 ) (1,545 )

Net cash used in investing activities (10,532 ) (6,015 )

Cash flows from financing activities

Repurchase of common stock for employee tax withholding (1,269 ) (3,828 )

Cash dividend paid (5,722 ) (5,572 )

Payments for deferred issuance costs (146 ) —

Net cash used in financing activities (7,137 ) (9,400 )

Net increase (decrease) in cash, cash equivalents and restricted cash 8,480 (31,346 )

Effect of foreign currency translation (1,901 ) 4,265

Cash, cash equivalents and restricted cash, beginning of period 54,066 70,137

Cash, cash equivalents and restricted cash, end of period $ 60,645 $ 43,056

Supplemental disclosures of cash flow information:

Cash paid for income taxes, net $ (3,314 ) $ 2,199

Cash paid for interest $ 7 $ —

The Company received income tax refunds of $7.1 million and $6 thousand during the six months ended June 30, 2026 and 2025, respectively, and has included these amounts in cash paid during the period for income taxes, net.

Supplemental disclosures of non-cash activities:

During the six months ended June 30, 2026 and 2025, the lease liability increased by $0.1 million and $2.5 million respectively, with a corresponding increase to the ROU asset.

As of June 30, 2026 and 2025, there was $5.9 million and $6.1 million, respectively, of property and equipment purchases included in accounts payable.

See accompanying notes to condensed consolidated financial statements.

6

JAKKS PACIFIC, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

June 30, 2026

Note 1 — Basis of Presentation

The accompanying unaudited interim condensed consolidated financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. However, the Company believes that the disclosures are adequate to prevent the information presented from being misleading. These financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K, which contains audited financial information for each of the three years in the period ended December 31, 2025.

The information provided in this report reflects all adjustments (consisting solely of normal recurring items) that are, in the opinion of management, necessary to present fairly the financial position and the results of operations for the periods presented. Interim results are not necessarily, especially given seasonality, indicative of results to be expected for a full year.

The condensed consolidated financial statements include the accounts of JAKKS Pacific, Inc. and its wholly-owned subsidiaries (collectively, “the Company”).

In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The new guidance improves disclosures about a public business entity’s expenses by requiring disaggregated disclosures of certain types of expenses, including purchases of inventory, employee compensation, depreciation, intangible amortization and depletion, as applicable, for each income statement caption that includes those expenses. In addition, the standard will require entities to define and disclose total selling expenses. The standard is effective for public business entities such as the Company for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted, and entities may apply the standard prospectively or retrospectively. The Company is currently evaluating the impact of adopting this standard on its condensed consolidated financial statements and related disclosures.

In July 2025, the FASB issued ASU 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets.” The new guidance provides a practical expedient in developing reasonable and supportable forecasts when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. Entities that elect the practical expedient may assume that current conditions as of the balance sheet date do not change for the remaining life of the respective assets. The amendments will be effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption was permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. The Company adopted this standard as of January 1, 2026. The adoption of this standard did not have a material impact on its condensed consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” The new guidance removes all references to prescriptive and sequential software development stages (referred to as “project stages”) throughout Subtopic 350-40. Therefore, an entity is required to start capitalizing software costs when both of the following occur: 1. Management has authorized and committed to funding the software project and 2. It is probable that the project will be completed and the software will be used to perform the function intended (referred to as the “probable-to-complete recognition threshold”). In evaluating the probable-to-complete recognition threshold, an entity is required to consider whether there is significant uncertainty associated with the development activities of the software (referred to as “significant development uncertainty”). The amendments will be effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating the impact of adopting this standard on its condensed consolidated financial statements and related disclosures.

No other accounting pronouncements were issued or adopted for the three and six months ended June 30, 2026 that materially impacted the Company.

7

JAKKS PACIFIC, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

June 30, 2026

Note 2 — Business Segments, Geographic Data and Sales by Major Customers

The Company is a worldwide producer and marketer of children’s toys and other consumer products, principally engaged in the design, development, production, marketing and distribution of its diverse portfolio of products. The Company’s segments are (i) Toys/Consumer Products (“TCP”) and (ii) Costumes.

The Toys/Consumer Products segment includes action figures, vehicles, play sets, plush products, dolls, electronic products, construction toys, infant and pre-school toys, child-sized and hand-held role play toys and everyday costume play, foot-to-floor ride-on vehicles, wagons, novelty toys, seasonal and outdoor products, kids’ indoor and outdoor furniture, and related products.

The Costumes segment, under its Disguise branding, designs, develops, markets and sells a wide range of every-day and special occasion dress-up costumes and related accessories in support of Halloween, Carnival, Children’s Day, Book Day/Week, and every-day/any-day costume play.

The Company’s Chief Executive Officer and Chief Financial Officer have been identified jointly as the Chief Operating Decision Maker (“CODM”). The CODM manages and allocates resources on a segment basis. The determination of the two segments is consistent with the financial information regularly reviewed by the CODM for purposes of evaluating performance. Results are regularly reviewed in comparison with current budget, prior forecast, prior year and recent years’ performance in that quarter.

Segment performance is measured at the gross profit and operating income (loss) level. All sales are made to external customers and general corporate expenses have been attributed to the segments based upon relative sales volumes. Segment assets are primarily comprised of accounts receivable and inventories, net of applicable reserves and allowances, goodwill and other assets. Certain assets which are not tracked by operating segment and/or that benefit multiple operating segments have been allocated on the same basis.

Results are not necessarily those which would be achieved if each segment was an unaffiliated business enterprise. Information by segment and a reconciliation to reported amounts for the three and six months ended June 30, 2026 and 2025 and as of June 30, 2026 and December 31, 2025 are as follows (in thousands):

Three Months Ended June 30,

2026 2025

TCP Costumes Total TCP Costumes Total