Janus International (US:JBI)2022-06-03 17:53Company Overview and Strategy - Janus International Group has experienced average annual revenue growth of over 20% since 2010[11] - The company estimates having over 50% share in the fastest-growing institutional self-storage market[11] - A key growth strategy involves increasing share in the commercial door market, with commercial offerings growing approximately 30% annually through organic growth and M&A[42] - The company aims to drive adoption of access control technology, particularly Nokē, in the self-storage market, estimating a total addressable market of over $5.5 billion[45] Financial Performance - Janus reported Q1 2022 revenue of $229.5 million, a 50.2% increase year-over-year[58] - Adjusted EBITDA for Q1 2022 was $44.7 million, a 37% increase, representing a 19.5% margin[58] - The company achieved a free cash flow conversion of adjusted net income of 96% in FY 2021[55] - The company has approximately $106 million in available liquidity as of April 2nd, 2022, including cash and undrawn credit facility capacity[60] Market Position and Growth Drivers - The company estimates that approximately 60% of self-storage facilities are over 20 years old, driving renovation demand[39] - Janus is positioned to benefit from the tight self-storage market, which requires approximately 220 million square feet of new capacity[26]