The acquisition of toy company Melissa & Doug added USD 40.4 million (GBP 35.4m) to Spin Master’s revenue during the first quarter of 2024.
Revenue was USD 316.2 million (GBP 252.70m) an increase of 16.5% over USD 271.4 million (GBP 217m) in Q1 2023. The figure includes Melissa & Doug revenue of USD 40.4 million (GBP 32m).
Revenue, excluding Melissa & Doug was USD 275.8 million (GBP 221m) an increase of 1.6% from USD 271.4 million (GBP 217m).
“We’ve continued to build on our leadership position in toys through disruptive innovation and have diversified our robust portfolio”
Spin Master Global CEO, Max Rangel
Spin Master’s net loss was USD 54.8 million (GBP 43.8m) in the first quarter of 2024, compared with a loss of USD 1.9 million (GBP 1.5m) a year earlier.
Chief financial officer Mark Segal said: “As expected, toy gross product sales in Q1 2024, excluding Melissa & Doug, were in line with 2023 in what is typically the lowest quarter seasonally for the toy industry. Much of our focus was centred around Melissa & Doug and our consolidated results now include their business.”
Global CEO, Max Rangel, said: “We’ve continued to build on our leadership position in toys through disruptive innovation and have diversified our robust portfolio through incremental licensed partnerships, international expansion, the development of entertainment content, digital games capabilities and compelling acquisitions.”
