Spin Master Reports Q2 Growth

The toy company’s gross product sales also increased 52.2 percent to $283.2 million.

NORTH AMERICA–Spin Master has released its second quarter financial results, reporting a 54.2 percent increase in revenue to $276.7 million.

Excluding revenue from Swimways, which was acquired in Q3 2016, Spin Master’s Q2 revenue grew 37.4 percent.

Spin Master also reported that gross product sales increased 52.2 percent to $283.2 million, compared to $186 million in 2016. Product sales were driven by “Paw Patrol,” Hatchimals and Swimways, which offset declines in The Secret Life of Pets and Angry Birds licensed merchandise. Excluding Swimways, gross product sales grew 35 percent.

Additionally, gross product sales increased 60.3 percent in North America, 32.4 percent in Europe and 42.4 percent in the rest of the world. International gross product sales on a combined basis accounted for 30.9 percent of total gross product sales.

Gross profit also increased 54.4 percent to $141.4 million.

Finally, other revenue, which primarily reflects merchandising royalties and TV distribution income from products marketed by third parties, as well as app revenue from Toca Boca and Sago Mini, increased to $17.6 million from $12.4 million in the year prior. The increase was driven primarily by licensing and merchandising revenue.