noodls browser compatibility check

The security settings of your browser are blocking the execution of scripts.

To use noodls, javascript support must be enabled. Please change your browser's security settings to enable javascript.

If you have changed your browser's security settings, you can click here.

related announcements

News

SEC - U.S. Securities and Exchange[...]

Litigation Releases (Anthony Joseph Cataldo)
United States Attorney's Office[...]

Fort Gibson Resident Pleads Guilty To Bank Fraud
U.S. Department of Justice

Acting AG Blanche and Acting ATF Director Cekada Announce Changes to[...]

Company News

Cimpress plc

04/30/2026 | Press release | Distributed by Public on 04/29/2026 14:06

Q3 Fiscal Year 2026 Financial and Operating Metrics

About Non-GAAP Financial Measur

ABOUT NON-GAAP FINANCIAL MEASURES: To supplement Cimpress' consolidated financial statements presented in accordance with U.S. generally accepted accounting principles, or GAAP, Cimpress has used the following measures defined as non-GAAP financial measures by Securities and Exchange Commission, or SEC, rules: Constant-currency revenue growth, organic constant-currency revenue growth, contribution profit, contribution margin, adjusted EBITDA, adjusted free cash flow, cash interest, net, consolidated net leverage ratio, and senior secured net leverage ratio: •Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year period's average exchange rate for each currency to the U.S. dollar. •Organic constant-currency revenue growth excludes the impact of currency as defined above, as well as revenue from acquisitions and divestitures made during the past twelve months for each period presented, including Depositphotos/VistaCreate revenue from Q2 FY2022 through Q1 FY2023, and the revenue from several small acquired businesses for the first year after acquisition. •Contribution profit is revenue less cost of revenue and advertising and payment processing fees. Contribution margin is calculated as contribution profit divided by reported revenue. •Adjusted EBITDA is net income plus the following items; income tax expense (benefit); loss (gain) on early extinguishment of debt; interest expense, net; other income, net; depreciation and amortization; share-based compensation expense; restructuring-related charges and certain impairments and other adjustments. In addition, we adjust to include the effect of certain items that were previously added back as part of other income, net, which includes proceeds from insurance recoveries and realized gains or losses on currency derivatives that are intended to hedge our adjusted EBITDA exposure to foreign currencies for which we do not apply hedge accounting. •Adjusted free cash flow is defined as net cash provided by (used in) operating activities less purchases of property, plant and equipment, purchases of intangible assets not related to acquisitions, and capitalization of software and website development costs, plus payment of contingent consideration in excess of acquisition-date fair value, gains on proceeds from insurance, and proceeds from the sale of assets. •Cash interest, net is cash paid for interest, less cash received for interest. •Consolidated net leverage ratio is adjusted net debt as defined by our credit agreement divided by consolidated EBITDA as defined by our credit agreement. Adjusted net debt as defined by our credit agreement is calculated as our total debt outstanding, plus capital lease liabilities and minus cash and cash equivalents. Consolidated EBITDA as defined by our credit agreement is Adjusted EBITDA, as described above, plus additional adjustments primarily for non-cash/non-recurring items specified in our credit agreement, as well as the pro forma effect of certain cost-saving measures or material acquisitions for the trailing twelve month period. •Senior secured net leverage ratio is adjusted first lien debt as defined by our credit agreement divided by consolidated EBITDA as defined by our credit agreement. Adjusted first lien debt as defined by our credit agreement is total debt outstanding, plus capital lease liabilities, minus cash and cash equivalents, minus high yield notes. See "consolidated net leverage ratio" above for information regarding consolidated EBITDA as defined by our credit agreement. These non-GAAP financial measures are provided to enhance investors' understanding of our current operating results from the underlying and ongoing business, and of our credit risk and availability of capital, for the same reasons they are used by management. For example, for acquisitions we believe excluding the costs related to the purchase of a business (such as amortization of acquired intangible assets, contingent consideration, or impairment of goodwill) provides further insight into the performance of the underlying acquired business in addition to that provided by our GAAP net income. We do not, nor do we suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of Non-GAAP Financial Measures" included at the end of this document. The tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliation between these financial measures.

Statement of Income and Margin

Consolidated Statement of Income and Margin Metrics1 In $ thousands, except share count and per share data
	FY 2004	FY 2005	FY 2006	FY 2007	FY 2008	FY 2009	FY 2010	FY 2011	FY 2012	FY 2013	FY 2014	FY 2015	Q1 16	Q2 16	Q3 16	Q4 16	FY 2016	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
STATEMENT OF INCOME:	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	(Sep 15)	(Dec 15)	(Mar 16)	(Jun 16)	Total	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
Revenue	$58,784	$90,885	$152,149	$255,933	$400,657	$515,826	$670,035	$817,009	$1,020,269	$1,167,478	$1,270,236	$1,494,206	$375,748	$496,274	$436,817	$479,205	$1,788,044	$443,713	$576,851	$550,585	$564,256	$2,135,405	$563,284	$762,054	$636,069	$631,134	$2,592,541	$588,981	$825,567	$661,814	$674,714	$2,751,076	$633,959	$820,333	$597,960	$429,106	$2,481,358	$586,500	$780,904	$573,362	$635,195	$2,575,961	$657,599	$849,716	$657,412	$722,828	$2,887,555	$703,415	$845,202	$742,164	$788,846	$3,079,627	$757,294	$921,363	$780,588	$832,611	$3,291,856	$804,969	$939,159	$789,468	$869,483	$3,403,079	$863,277	$1,042,202	$886,209	$2,791,688
Cost of revenue5	23,837	36,528	49,858	89,971	154,122	191,944	240,195	287,806	355,205	400,293	451,093	568,572	157,170	197,462	196,911	222,097	773,640	213,050	276,366	268,482	279,077	1,036,975	283,755	360,285	319,209	316,550	1,279,799	302,471	411,496	342,700	344,677	1,401,344	325,665	394,018	309,598	219,590	1,248,871	298,844	380,738	296,533	323,774	1,299,889	338,989	423,937	347,452	382,348	1,492,726	377,735	455,393	394,908	412,589	1,640,625	398,783	463,423	404,668	428,188	1,695,062	422,736	489,256	416,960	456,683	1,785,635	460,476	554,484	477,012	1,491,972
Gross profit	34,947	54,357	102,291	165,962	246,535	323,882	429,840	529,203	665,064	767,185	819,143	925,634	218,578	298,812	239,906	257,108	1,014,404	230,663	300,485	282,103	285,179	1,098,430	279,529	401,769	316,860	314,584	1,312,742	286,510	414,071	319,114	330,037	1,349,732	308,294	426,315	288,362	209,516	1,232,487	287,656	400,166	276,829	311,421	1,276,072	318,610	425,779	309,960	340,480	1,394,829	325,680	389,809	347,256	376,257	1,439,002	358,511	457,940	375,920	404,423	1,596,794	382,233	449,903	372,508	412,800	1,617,444	402,801	487,718	409,197	1,299,716
Technology and development expense5	8,515	10,839	15,628	27,176	44,828	60,921	78,387	93,626	129,162	164,859	176,344	186,770	48,513	49,424	54,597	57,546	210,080	59,010	56,282	63,236	64,702	243,230	62,103	59,228	61,267	63,160	245,758	58,178	56,707	59,656	62,256	236,797	63,167	64,427	67,693	57,965	253,252	58,489	65,036	62,572	66,963	253,060	67,277	70,267	75,291	80,010	292,845	74,475	77,723	78,287	71,772	302,257	74,330	79,961	83,790	83,887	321,968	81,861	82,878	83,112	86,184	334,035	84,886	89,077	86,890	260,853
Marketing and selling expense5	19,138	32,372	51,174	87,887	127,975	159,143	216,574	271,838	375,538	446,116	440,311	472,079	114,714	135,426	124,655	133,707	508,502	132,668	151,358	167,284	159,622	610,932	166,093	200,785	179,591	168,185	714,654	181,673	210,661	170,202	151,327	713,863	160,917	173,336	148,803	90,985	574,041	138,150	182,322	154,472	173,447	648,391	174,697	208,616	194,618	211,310	789,241	200,930	205,148	187,234	180,658	773,970	192,188	211,843	191,591	194,250	789,872	203,847	223,861	193,316	192,994	814,018	210,398	246,161	208,516	665,075
General and administrative expense5	3,968	5,813	16,624	23,694	32,572	42,236	58,031	70,659	105,190	110,086	116,574	142,996	33,281	36,655	36,532	39,376	145,844	56,580	48,161	45,730	57,098	207,569	38,778	44,988	44,103	49,089	176,958	41,176	40,216	37,753	43,507	162,652	43,623	51,910	45,148	42,373	183,054	41,812	42,979	62,358	48,503	195,652	46,548	46,726	50,888	53,183	197,345	54,072	49,791	52,578	52,805	209,246	48,341	48,793	54,254	54,349	205,737	51,932	56,936	50,549	59,114	218,531	53,996	60,196	58,922	173,114
Loss on contract termination	-	21,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of acquired intangibles3	-	-	-	-	-	-	-	-	-	-	-	24,263	9,714	9,588	10,812	10,449	40,563	10,213	9,879	13,450	12,603	46,145	12,633	12,558	12,941	11,749	49,881	11,301	14,846	14,022	13,087	53,256	13,018	13,150	12,693	12,925	51,786	13,305	13,453	13,506	13,554	53,818	13,458	13,882	14,180	12,977	54,497	12,350	12,362	11,239	10,903	46,854	9,886	9,181	6,919	5,457	31,443	5,155	5,116	4,524	4,267	19,062	4,252	2,883	2,887	10,022
Restructuring expense5	-	-	-	-	-	-	-	-	-	-	-	3,202	271	110	-	-	381	-	1,100	24,790	810	26,700	854	11,501	2,331	550	15,236	170	1,026	7,866	2,992	12,054	2,190	1,897	919	8,537	13,543	(86)	2,182	(382)	(73)	1,641	(309)	307	3,420	10,185	13,603	1,820	11,207	30,115	615	43,757	(334)	483	128	146	423	99	163	466	4,800	5,528	298	1,305	2,813	4,416
Gain on sale of subsidiaries	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(47,545)	-	-	-	(47,545)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of goodwill and acquired intangible assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,841	-	30,841	-	-	9,556	-	9,556	-	-	-	-	-	-	-	-	7,503	7,503	-	-	100,842	-	100,842	-	-	-	-	-	-	-	-	-	-	-	-	-	5,609	5,609	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total costs and expenses (incl. cost of revenue)	55,458	106,552	133,284	228,728	359,497	454,244	593,187	723,929	965,095	1,121,354	1,184,322	1,397,882	363,663	428,665	454,348	463,175	1,709,851	471,521	543,146	592,528	573,912	2,181,107	516,671	689,345	619,442	609,283	2,434,741	594,969	734,952	632,199	625,349	2,587,469	608,580	698,738	685,696	432,375	2,425,389	550,514	686,710	589,059	626,168	2,452,451	640,660	763,735	685,849	750,013	2,840,257	721,382	811,624	754,361	734,951	3,022,318	723,194	813,684	741,350	766,277	3,044,505	765,630	858,210	748,927	804,042	3,176,809	814,306	954,106	837,040	2,605,452
Income (loss) from operations	3,326	(15,667)	18,865	27,205	41,160	61,582	76,848	93,080	55,174	46,124	85,914	96,324	12,085	67,609	(17,531)	16,030	78,193	(27,808)	33,705	(41,943)	(9,656)	(45,702)	46,613	72,709	16,627	21,851	157,800	(5,988)	90,615	29,615	49,365	163,607	25,379	121,595	(87,736)	(3,269)	55,969	35,986	94,194	(15,697)	9,027	123,510	16,939	85,981	(28,437)	(27,185)	47,298	(17,967)	33,578	(12,197)	53,895	57,309	34,100	107,679	39,238	66,334	247,351	39,339	80,949	40,541	65,441	226,270	48,971	88,096	49,169	186,236
Other income (expense), net	47	(78)	2,409	(45)	427	(803)	(1,491)	(2,197)	2,350	(63)	(21,630)	20,134	9,242	7,690	(9,003)	18,169	26,098	(2,132)	30,549	(6,582)	(11,473)	10,362	(16,312)	(7,732)	(1,558)	4,570	(21,032)	10,252	9,629	(2,495)	9,090	26,476	15,674	(9,040)	22,537	(6,297)	22,874	(8,754)	(17,198)	9,785	(3,186)	(19,353)	13,170	12,839	12,321	23,133	61,463	27,397	(17,392)	1,377	7,116	18,498	6,419	(391)	(3,651)	(794)	1,583	(11,492)	31,678	(9,441)	(24,327)	(13,582)	3,453	1,728	2,580	7,761
Interest (expense), net4	(83)	(390)	(1,256)	2,863	2,505	324	(343)	239	(1,679)	(5,329)	(7,674)	(16,705)	(8,126)	(10,160)	(10,091)	(9,819)	(38,196)	(9,904)	(9,631)	(11,584)	(12,858)	(43,977)	(13,082)	(12,529)	(12,652)	(14,780)	(53,043)	(13,777)	(16,808)	(16,787)	(15,799)	(63,171)	(15,087)	(15,701)	(17,262)	(27,790)	(75,840)	(30,516)	(30,141)	(29,002)	(29,709)	(119,368)	(25,688)	(25,369)	(24,247)	(24,126)	(99,430)	(24,806)	(28,597)	(30,515)	(28,875)	(112,793)	(29,200)	(30,588)	(30,158)	(29,876)	(119,822)	(31,415)	(29,165)	(26,995)	(27,656)	(115,231)	(28,066)	(26,997)	(25,397)	(80,460)
Gain (loss) on early extinguishment of debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(17,359)	(17,359)	-	-	-	-	-	-	-	-	-	-	-	-	-	(48,343)	(48,343)	-	-	-	-	-	-	-	-	6,764	6,764	1,372	349	-	(2,387)	(666)	179	(696)	19	-	(498)	-	-	-	-
Income (loss) before income taxes	3,290	(16,135)	20,018	30,023	44,092	61,103	75,014	91,122	55,845	40,732	56,610	99,753	13,201	65,139	(36,625)	24,380	66,095	(39,844)	54,623	(60,109)	(33,987)	(79,317)	17,219	52,448	2,417	(5,718)	66,366	(9,513)	83,436	10,333	42,656	126,912	25,966	96,854	(82,461)	(37,356)	3,003	(3,284)	46,855	(34,914)	(72,211)	(63,554)	4,421	73,451	(40,363)	(28,178)	9,331	(15,376)	(12,411)	(41,335)	38,900	(30,222)	12,691	77,049	5,429	33,277	128,446	(3,389)	82,766	4,124	13,458	96,959	24,358	62,827	26,352	113,537
Income tax provision (benefit)	(150)	84	783	2,880	4,261	5,417	7,273	9,013	11,851	9,387	10,590	10,441	3,179	6,148	(854)	7,211	15,684	(9,814)	19,601	(17,431)	526	(7,118)	(6,187)	21,825	4,019	(79)	19,578	5,481	14,399	4,091	9,461	33,432	6,115	(93,795)	1,039	5,649	(80,992)	6,794	12,954	3,927	(4,772)	18,903	9,381	17,298	29,529	3,693	59,901	9,365	126,129	8,475	11,524	155,493	8,122	16,795	10,610	(84,889)	(49,362)	8,995	21,151	12,144	41,817	84,107	17,838	13,337	11,709	42,884
Loss in equity interests	-	-	-	-	-	-	-	-	-	1,910	2,704	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss)	3,440	(16,219)	19,235	27,143	39,831	55,686	67,741	82,109	43,994	29,435	43,316	89,312	10,022	58,991	(35,771)	17,169	50,411	(30,030)	35,022	(42,678)	(34,513)	(72,199)	23,406	30,623	(1,602)	(5,639)	46,788	(14,994)	69,037	6,242	33,195	93,480	19,851	190,649	(83,500)	(43,005)	83,995	(10,078)	33,901	(38,841)	(67,439)	(82,457)	(4,960)	56,153	(69,892)	(31,871)	(50,570)	(24,741)	(138,540)	(49,810)	27,376	(185,715)	4,569	60,254	(5,181)	118,166	177,808	(12,384)	61,615	(8,020)	(28,359)	12,852	6,520	49,490	14,643	70,653
Net (income) loss attributable to noncontrolling interest	-	-	-	-	-	-	-	-	-	-	380	2,900	749	328	3,100	(239)	3,938	927	6	(256)	(189)	488	(43)	(688)	(663)	(1,661)	(3,055)	355	(23)	288	952	1,572	180	(426)	(1,384)	1,000	(630)	(677)	(1,614)	(209)	(272)	(2,772)	(1,738)	(1,364)	(1,925)	1,266	(3,761)	(700)	(1,460)	484	1,413	(263)	(15)	(2,149)	1,203	(3,165)	(4,126)	(165)	(558)	(218)	3,041	2,100	1,117	(146)	(804)	167
Net income (loss) attributable to Cimpress plc	$414	($21,032)	$19,235	$27,143	$39,831	$55,686	$67,741	$82,109	$43,994	$29,435	$43,696	$92,212	$10,771	$59,319	($32,671)	$16,930	$54,349	($29,103)	$35,028	($42,934)	($34,702)	($71,711)	$23,363	$29,935	($2,265)	($7,300)	$43,733	($14,639)	$69,014	$6,530	$34,147	$95,052	$20,031	$190,223	($84,884)	($42,005)	$83,365	($10,755)	$32,287	($39,050)	($67,711)	($85,229)	($6,698)	$54,789	($71,817)	($30,605)	($54,331)	($25,441)	($140,000)	($49,326)	$28,789	($185,978)	$4,554	$58,105	($3,978)	$115,001	$173,682	($12,549)	$61,057	($8,238)	($25,318)	$14,952	$7,637	$49,344	$13,839	$70,820
Diluted net income (loss) per share	$0.03	($1.85)	$0.45	$0.60	$0.87	$1.25	$1.49	$1.83	$1.13	$0.85	$1.28	$2.73	$0.32	$1.81	($1.04)	$0.51	$1.64	($0.92)	$1.07	($1.38)	($1.11)	($2.29)	$0.72	$0.93	($0.07)	($0.24)	$1.36	($0.47)	$2.17	$0.21	$1.09	$3.00	$0.66	$6.81	($3.26)	($1.62)	$3.00	($0.41)	$1.22	($1.50)	($2.60)	($3.28)	($0.26)	$2.08	($2.75)	($1.17)	($2.08)	($0.97)	($5.34)	($1.88)	$1.08	($7.08)	$0.17	$2.14	($0.15)	$4.33	$6.43	($0.50)	$2.36	($0.33)	($1.02)	$0.58	$0.30	$1.95	$0.55	$2.81
Weighted average shares outstanding - diluted (basic in loss case)	12,539,644	11,358,575	42,624,689	45,364,257	46,016,364	44,634,191	45,336,561	44,951,199	38,953,179	34,472,004	34,239,909	33,816,498	33,757,378	32,735,447	31,343,711	32,996,473	33,049,454	31,570,824	32,614,013	31,103,388	31,195,625	31,291,581	32,332,162	32,319,022	30,724,018	30,812,113	32,220,401	30,883,617	31,820,497	31,514,793	31,305,201	31,662,705	30,529,472	27,916,759	26,024,229	25,880,081	27,773,286	25,945,998	26,384,460	26,003,675	26,033,525	25,996,572	26,072,249	26,402,703	26,102,610	26,108,034	26,094,842	26,178,818	26,234,747	26,268,301	26,617,054	26,252,860	27,079,455	27,179,073	26,216,216	26,569,804	27,004,687	25,167,845	25,906,151	24,834,409	24,723,205	25,636,865	25,051,742	25,299,521	25,185,220	25,180,347
MARGIN METRICS:
Gross profit as a percent of revenue	59.4 %	59.8 %	67.2 %	64.8 %	61.5 %	62.8 %	64.2 %	64.8 %	65.2 %	65.7 %	64.5 %	61.9 %	58.2 %	60.2 %	54.9 %	53.7 %	56.7 %	52.0 %	52.1 %	51.2 %	50.5 %	51.4 %	49.6 %	52.7 %	49.8 %	49.8 %	50.6 %	48.6 %	50.2 %	48.2 %	48.9 %	49.1 %	48.6 %	52.0 %	48.2 %	48.8 %	49.7 %	49.0 %	50.9 %	47.8 %	48.6 %	49.2 %	48.5 %	50.1 %	47.1 %	47.1 %	48.3 %	46.3 %	46.1 %	46.8 %	47.7 %	46.7 %	47.3 %	49.7 %	48.2 %	48.6 %	48.5 %	47.5 %	47.9 %	47.2 %	47.5 %	47.5 %	46.7 %	46.8 %	46.2 %	46.6 %
Contribution profit as a percent of revenue2	38.3 %	45.0 %	42.1 %	40.0 %	41.3 %	40.5 %	40.5 %	40.5 %	38.2 %	39.1 %	41.5 %	41.0 %	37.8 %	41.3 %	36.3 %	36.1 %	37.9 %	32.5 %	34.1 %	31.4 %	32.9 %	32.8 %	31.0 %	34.3 %	31.2 %	32.6 %	32.4 %	27.7 %	32.3 %	31.8 %	35.4 %	31.9 %	32.3 %	38.6 %	33.7 %	38.6 %	35.8 %	35.5 %	36.7 %	33.0 %	33.4 %	34.8 %	33.2 %	35.2 %	30.6 %	29.7 %	32.3 %	29.0 %	30.6 %	31.8 %	33.8 %	31.4 %	31.2 %	34.6 %	33.3 %	34.3 %	33.4 %	31.5 %	32.2 %	32.3 %	34.4 %	32.7 %	31.5 %	31.3 %	32.4 %	31.7 %
Operating income (loss) as a percent of revenue	5.7 %	(17.2)%	12.4 %	10.6 %	10.3 %	11.9 %	11.5 %	11.4 %	5.4 %	4.0 %	6.8 %	6.4 %	3.2 %	13.6 %	(4.0)%	3.3 %	4.4 %	(6.3)%	5.8 %	(7.6)%	(1.7)%	(2.1)%	8.3 %	9.5 %	2.6 %	3.5 %	6.1 %	(1.0)%	11.0 %	4.5 %	7.3 %	5.9 %	4.0 %	14.8 %	(14.7)%	(0.8)%	2.3 %	6.1 %	12.0 %	(2.7)%	1.4 %	4.8 %	2.6 %	10.1 %	(4.3)%	(3.8)%	1.6 %	(2.6)%	4.0 %	(1.6)%	6.8 %	1.9 %	4.5 %	11.7 %	5.0 %	8.0 %	7.5 %	4.9 %	8.6 %	5.1 %	7.5 %	6.6 %	5.7 %	8.5 %	5.5 %	6.7 %
Net income (loss) attributable to Cimpress plc as a percent of revenue	0.7 %	(23.1)%	12.6 %	10.6 %	9.9 %	10.8 %	10.1 %	10.0 %	4.3 %	2.5 %	3.4 %	6.0 %	2.7 %	11.9 %	(8.2)%	3.6 %	2.8 %	(6.8)%	6.1 %	(7.8)%	(6.2)%	(3.4)%	4.1 %	3.9 %	(0.4)%	(1.2)%	1.7 %	(2.5)%	8.4 %	1.0 %	5.1 %	3.5 %	3.2 %	23.2 %	(14.2)%	(9.8)%	3.4 %	(1.8)%	4.1 %	(6.7)%	(10.7)%	(3.3)%	(1.0)%	6.4 %	(10.9)%	(4.2)%	(1.9)%	(3.6)%	(16.6)%	(6.6)%	3.6 %	(6.0)%	0.6 %	6.3 %	(0.5)%	13.8 %	5.3 %	(1.6)%	6.5 %	(1.0)%	(2.9)%	0.4 %	0.9 %	4.7 %	1.6 %	2.5 %
1 Quarterly results are unaudited and when added together, may not equal annual results due to rounding. 2 Contribution margin is defined as revenue minus the cost of revenue, the cost of advertising and payment processing, as a percent of total revenue. Historical consolidated advertising expense and payment processing is in the "Operating Metrics" tab of this spreadsheet. 3 During the third quarter of FY2017 we changed the presentation of amortization expense for acquired intangible assets. The expense was previously classified within each of the respective expense lines of our consolidated statement of operations and now is presented as a separate financial statement line item, "Amortization of acquired intangible assets". Periods presented before FY2015 were not recast to reflect this change. 4 During Q1 FY2020, we adopted the new lease accounting standard, ASC 842, which resulted in a change in classification of our Waltham, Massachusetts build-to-suit lease from a finance lease to an operating lease. For the periods from Q1 FY2016 through Q4 FY2019, we presented approximately $28.7 million of expense associated with this lease within interest expense, net. Due to the change in lease classification during Q1 FY2020, we now recognize the impact of all expense related to the lease within operating expenses. We did not recast the prior periods to reflect this change in classification. 5 The amounts in the table above include share-based compensation (SBC) as follows:
Cost of revenue	N/A	N/A	$79	$427	$755	$745	$840	$686	$329	$398	$251	$78	$26	$28	$3	$15	$72	$43	$75	$91	$80	$289	$40	$95	$105	$121	$361	$115	$163	$42	$135	$455	$88	$97	$66	$235	$486	$100	$34	$99	$154	$387	$116	$127	$137	$158	$538	$193	$176	$42	$63	$474	$167	$229	$245	$179	$820	$223	$208	$168	$204	$803	$211	$216	$202	$629
Technology and development expense	N/A	N/A	596	2,184	4,108	5,053	5,790	4,178	5,171	9,209	7,041	4,139	1,330	1,422	1,606	1,534	5,892	2,325	3,118	1,123	2,158	8,724	1,856	2,818	3,242	2,664	10,580	2,208	(1,528)	1,320	1,765	3,765	1,734	2,043	2,014	3,212	9,003	2,191	1,215	2,284	3,373	9,063	2,903	3,355	3,397	3,927	13,582	3,041	4,267	2,500	3,194	13,002	4,209	5,700	5,692	5,268	20,869	5,096	4,962	4,400	5,257	19,715	4,941	5,515	4,930	15,386
Marketing and selling expense	N/A	N/A	159	3,176	3,722	4,021	4,965	3,841	2,692	6,354	5,082	1,952	411	425	387	368	1,591	820	1,480	1,242	1,315	4,857	985	1,858	2,138	1,702	6,683	1,363	(1,877)	1,187	520	1,193	(1,311)	533	1,145	2,336	2,703	1,685	754	1,808	2,700	6,947	2,677	2,798	2,961	2,946	11,382	2,459	1,752	(323)	1,805	5,693	2,218	3,089	3,318	3,055	11,680	1,715	2,502	2,317	2,513	9,047	2,686	2,898	2,508	8,092
General and administrative expense	N/A	N/A	4,016	2,978	6,162	9,654	10,785	12,972	17,221	16,967	15,412	17,906	4,423	4,191	3,957	3,702	16,273	8,383	6,604	4,084	9,429	28,500	3,928	8,037	7,289	12,261	31,515	5,230	522	1,955	5,175	12,882	4,239	5,652	5,683	5,487	21,061	4,307	3,240	5,354	7,736	20,637	5,310	6,225	6,209	6,520	24,264	4,782	5,352	5,023	5,356	20,513	5,859	8,631	9,142	8,583	32,215	8,599	6,701	5,799	8,215	29,314	6,955	8,202	6,990	22,147
Restructuring expense	N/A	N/A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,257	-	6,257	103	506	718	-	1,327	-	-	3,250	171	3,421	664	108	(16)	865	1,621	-	-	-	-	-	-	-	-	-	-	156	493	1,492	299	2,440	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total share-based compensation expense	N/A	N/A	$4,850	$8,765	$14,747	$19,473	$22,380	$21,677	$25,413	$32,928	$27,786	$24,075	$6,190	$6,066	$5,953	$5,619	$23,828	$11,571	$11,277	$12,797	$12,982	$48,627	$6,912	$13,314	$13,492	$16,748	$50,466	$8,916	($2,720)	$7,754	$7,766	$21,716	$5,414	$8,433	$8,892	$12,135	$34,874	$8,283	$5,243	$9,545	$13,963	$37,034	$11,006	$12,505	$12,704	$13,551	$49,766	$10,631	$12,040	$8,734	$10,717	$42,122	$12,453	$17,649	$18,397	$17,085	$65,584	$15,633	$14,373	$12,684	$16,189	$58,879	$14,793	$16,831	$14,630	$46,254

TTM Variable and Fixed Cost Com

Variable and Fixed Cost Commentary1 In $USD millions except percentages
	As of
	March 31, 2026
TTM Total Revenue	$ 3,661
	TTM Expenses	% of revenue	Depreciation, Amortization and Impairment	Share-Based Compensation	Expenses excluding D&A, Impairment and SBC	% of Revenue (ex. D&A, Impairment and SBC)	Variable/Fixed Commentary
COGS	$ 1,949	53.2 %	$ 59	$ 1	$ 1,889	51.6 %
Materials, shipping, third-party fulfillers	$ 1,377	37.6 %			$ 1,377	37.6 %	These costs are variable and fluctuate based on volume.
Labor	$ 340	9.3 %		$ 1	$ 339	9.3 %	Includes direct (~80%) and indirect (~20%) labor. Direct labor is managed relative to demand so operates like a variable cost but requires an action to affect that change.
Overhead and other fixed cost	$ 232	6.3 %	$ 59		$ 172	4.7 %	While there is some fluctuation with volume, these are primarily fixed costs such as utilities, maintenance, repairs, lease costs and training.
Marketing and selling	$ 858	23.4 %	$ 5	$ 11	$ 843	23.0 %
External advertising	$ 464	12.7 %			$ 464	12.7 %	A portion of performance marketing is variable but all of these costs can be increased or decreased based on demand with two exceptions: (1) pre-committed media buying for television which is a fixed cost but not material (pre-commitment usually about 2-3 weeks); (2) certain direct mail spend where spend was already made such as production of mailings or buying of lists, both of which would be a sunk cost from a cash perspective.
Payment processing	$ 64	1.7 %			$ 64	1.7 %	These costs are variable and fluctuate based on volume.
Customer services and telesales labor	$ 113	3.1 %		$ 1	$ 113	3.1 %	The vast majority of this is managed relative to demand so operates like a variable cost but requires an action to affect that change.
Other (internal marketing and related costs, third party costs including agencies and consulting, etc.)	$ 217	5.9 %	$ 5	$ 10	$ 202	5.5 %	These are fixed costs, although they include significant discretionary spend.
Technology and development	$ 347	9.5 %	$ 64	$ 21	$ 263	7.2 %	These are fixed costs, although they include significant discretionary spend.
General and administrative	$ 232	6.3 %	$ 5	$ 30	$ 197	5.4 %	These are fixed costs, although they include significant discretionary spend.
Amortization of acquired intangibles	$ 14	0.4 %	$ 14	$ -	$ -	- %	N/A
Restructuring expense	$ 9	0.3 %	$ -	$ -	$ 9	0.3 %	These expenses are event-driven.
Impairment of goodwill and intangible assets	$ -	- %	$ -	$ -	$ -	- %	N/A
Total Expenses	$ 3,409	93.1 %	$ 147	$ 62	$ 3,200	87.4 %
1 This is a breakdown of our cost base with commentary to provide further visibility of variable and fixed costs. All figures are based on the trailing-twelve-month period ended March 31, 2026 as reported.
Note: values may not sum to total due to rounding.

Adjusted EBITDA (Non-GAAP)

Reconciliation of Adjusted EBITDA1 In $ thousands except leverage ratios
	FY 2006	FY 2007	FY 2008		FY 2009		FY 2010		FY 2011		FY 2012		FY 2013		FY 2014		FY 2015		Q1 16	Q2 16	Q3 16	Q4 16	FY 2016	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	Total	Total	Total		Total		Total		Total		Total		Total		Total		Total		(Sep 15)	(Dec 15)	(Mar 16)	(Jun 16)	Total	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
Net income (loss)	$19,235	$27,143	$39,831		$55,686		$67,741		$82,109		$43,994		$29,435		$43,316		$89,312		$10,022	$58,991	($35,771)	$17,169	$50,411	($30,030)	$35,022	($42,678)	($34,513)	($72,199)	$23,406	$30,623	($1,602)	($5,639)	$46,788	($14,994)	$69,037	$6,242	$33,195	$93,480	$19,851	$190,649	($83,500)	($43,005)	$83,995	($10,078)	$33,901	($38,841)	($67,439)	($82,457)	($4,960)	$56,153	($69,892)	($31,871)	($50,570)	($24,741)	($138,540)	($49,810)	$27,376	($185,715)	$4,569	$60,254	($5,181)	$118,166	$177,808	($12,384)	$61,615	($8,020)	($28,359)	$12,852	$6,520	$49,490	$14,643	$70,653
Income tax (benefit) expense	783	2,880	4,261		5,417		7,273		9,013		11,851		9,387		10,590		10,441		3,179	6,148	(854)	7,211	15,684	(9,814)	19,601	(17,431)	526	(7,118)	(6,187)	21,825	4,019	(79)	19,578	5,481	14,399	4,091	9,461	33,432	6,115	(93,795)	1,039	5,649	(80,992)	6,794	12,954	3,927	(4,772)	18,903	9,381	17,298	29,529	3,693	59,901	9,365	126,129	8,475	11,524	155,493	8,122	16,795	10,610	(84,889)	(49,362)	8,995	21,151	12,144	41,817	$84,107	17,838	13,337	11,709	$42,884
Loss (gain) on early extinguishment of debt	-	-	-		-		-		-		-		-		-		-		-	-	-	-	-	-	-	-	-	-	-	-	-	17,359	17,359	-	-	-	-	-	-	-	-	-	-	-	-	-	48,343	48,343	-	-	-	-	-	-	-	-	(6,764)	(6,764)	(1,372)	(349)	-	2,387	666	(179)	696	(19)	-	$498	-	-	-	$-
Interest expense, net	1,256	(2,863)	(2,505)	0	(324)	0	343	0	(239)	0	1,679	0	5,329	0	7,674	0	16,705	0	8,126	10,160	10,091	9,819	38,196	9,904	9,631	11,584	12,858	43,977	13,082	12,529	12,652	14,780	53,043	13,777	16,808	16,787	15,799	63,171	15,087	15,701	17,262	27,790	75,840	30,516	30,141	29,002	29,709	119,368	25,688	25,369	24,247	24,126	99,430	24,806	28,597	30,515	28,875	112,793	29,200	30,588	30,158	29,876	119,822	31,415	29,165	26,995	27,656	$115,231	28,066	26,997	25,397	$80,460
Loss in equity interests	-	-	-		-		-		-		-		1,910		2,704		-		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$-	-	-	-	$-
Other income, net	(2,409)	45	(427)		803	0	1,491		2,197	0	(2,350)	0	63	0	21,630	0	(20,134)	0	(9,242)	(7,690)	9,003	(18,169)	(26,098)	2,132	(30,549)	6,582	11,473	(10,362)	16,312	7,732	1,558	(4,570)	21,032	(10,252)	(9,629)	2,495	(9,090)	(26,476)	(15,674)	9,040	(22,537)	6,297	(22,874)	8,754	17,198	(9,785)	3,186	19,353	(13,170)	(12,839)	(12,321)	(23,133)	(61,463)	(27,397)	17,392	(1,377)	(7,116)	(18,498)	(6,419)	391	3,651	794	(1,583)	11,492	(31,678)	9,441	24,327	$13,582	(3,453)	(1,728)	(2,580)	($7,761)
GAAP operating income (loss)	18,865	27,205	41,160		61,582		76,848		93,080		55,174		46,124		85,914		96,324		12,085	67,609	(17,531)	16,030	78,193	(27,808)	33,705	(41,943)	(9,656)	(45,702)	46,613	72,709	16,627	21,851	157,800	(5,988)	90,615	29,615	49,365	163,607	25,379	121,595	(87,736)	(3,269)	55,969	35,986	94,194	(15,697)	9,027	123,510	16,939	85,981	(28,437)	(27,185)	47,298	(17,967)	33,578	(12,197)	53,895	57,309	34,100	107,679	39,238	66,334	247,351	39,339	80,949	40,541	65,441	$226,270	48,971	88,096	49,169	$186,236
Depreciation and amortization2	7,786	14,874	25,193		35,713		44,367		50,627		59,427		64,325		72,282		97,487		30,226	31,805	34,561	35,527	132,119	35,541	36,977	44,522	42,616	159,656	42,384	41,299	43,437	41,885	169,005	40,718	44,502	44,055	43,682	172,957	42,535	42,356	41,840	41,212	167,943	42,290	43,597	42,809	44,516	173,212	44,432	45,314	43,651	42,284	175,681	40,942	40,874	39,751	40,861	162,428	39,942	39,089	37,072	35,661	151,764	35,546	35,211	34,300	36,074	141,131	36,618	36,618	37,406	110,642
Waltham, MA lease depreciation adjustment	-	-	-		-		-		-		-		-		-		-		(328)	(1,045)	(1,030)	(1,030)	(3,433)	(1,030)	(1,030)	(1,030)	(1,030)	(4,120)	(1,030)	(1,030)	(1,030)	(1,030)	(4,120)	(1,030)	(1,030)	(1,030)	(1,030)	(4,120)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense3	4,850	8,765	14,747		19,473		22,380		21,677		25,413		32,928		27,786		24,075		6,190	6,066	5,897	5,619	23,772	11,571	11,277	6,541	12,982	42,371	6,809	12,808	12,774	16,748	49,139	8,916	(2,720)	4,504	7,596	18,296	4,750	8,325	8,908	11,269	33,252	8,283	5,243	9,545	13,963	37,034	11,006	12,505	12,704	13,551	49,766	10,475	11,547	7,242	10,418	39,682	12,453	17,649	18,397	17,085	65,584	15,633	14,373	12,684	16,189	58,879	14,793	16,831	14,630	46,254
Proceeds from insurance	-	-	-		-		-		-		-		-		-		-		1,584	1,553	-	824	3,961	650	-	157	-	807	-	377	299	-	676	-	-	-	-	-	-	-	-	-	-	-	-	122	-	122	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense associated with Waltham, MA lease	-	-	-		-		-		-		-		-		-		-		(350)	(2,001)	(1,975)	(1,961)	(6,287)	(1,970)	(1,956)	(1,897)	(1,904)	(7,727)	(1,911)	(1,896)	(1,838)	(1,844)	(7,489)	(1,849)	(1,833)	(1,775)	(1,779)	(7,236)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earn-out related charges	-	-	-		-		-		-		-		-		2,192		15,276		289	3,413	883	1,793	6,378	16,247	7,010	4,882	12,245	40,384	1,137	1,254	-	-	2,391	-	-	-	-	-	-	-	-	(54)	(54)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Certain impairments and other adjustments	-	-	-		-		920		-		-		-		-		-		-	3,022	37,582	1,216	41,820	-	-	9,556	-	9,556	(1)	498	868	1,528	2,893	(87)	65	786	9,936	10,700	(176)	936	101,976	1,857	104,593	783	(215)	20,563	(678)	20,453	(780)	(2,713)	277	(6,493)	(9,709)	3,456	(925)	(549)	4,950	6,932	525	589	(328)	368	1,154	(614)	1,183	2,369	2,415	5,353	727	539	(534)	732
Gain on purchase or sale of subsidiaries	-	-	-		-		-		-		-		-		-		-		-	-	-	-	-	-	-	-	-	-	(48,380)	-	-	435	(47,945)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring related charges	-	-	-		-		-		-		-		-		-		2,528		271	110	-	-	381	-	1,100	24,790	810	26,700	854	11,501	2,331	550	15,236	170	1,026	7,866	2,992	12,054	2,190	1,897	919	8,537	13,543	(86)	2,182	(382)	(73)	1,641	(309)	307	3,420	10,185	13,603	1,820	11,207	30,115	615	43,757	(334)	483	128	146	423	99	163	466	4,800	5,528	298	1,305	2,813	4,416
Realized gains (losses) on currency derivatives	-	-	-		-		-		-		-		29		(7,048)		7,450		316	3,319	1,391	837	5,863	1,888	6,839	4,591	3,156	16,474	(634)	(3,513)	(4,811)	(2,487)	(11,445)	1,607	7,446	4,836	6,400	20,289	4,838	10,408	5,001	4,286	24,533	1,217	(1,578)	(1,936)	(4,557)	(6,854)	(3,672)	674	2,011	5,411	4,424	6,869	14,901	4,783	3,171	29,724	2,050	945	(349)	(240)	2,406	(2,232)	375	340	(2,477)	(3,994)	(2,692)	(4,546)	(2,959)	(10,197)
Adjusted EBITDA1,4	$31,501	$50,844	$81,100		$116,768		$144,515		$165,384		$140,014		$143,406		$181,126		$243,140		$50,283	$113,851	$59,778	$58,855	$282,767	$35,089	$93,922	$50,169	$59,219	$238,399	$45,841	$134,007	$68,657	$77,636	$326,141	$42,457	$138,071	$88,857	$117,162	$386,547	$79,516	$185,517	$70,908	$63,838	$399,779	$88,473	$143,423	$55,024	$62,198	$349,118	$67,616	$142,068	$33,626	$37,753	$281,063	$45,595	$111,182	$69,145	$113,910	$339,832	$88,736	$166,434	$94,158	$119,354	$468,682	$87,771	$132,254	$90,700	$122,442	$433,167	$98,715	$138,843	$100,525	$338,083
Adjusted EBITDA as percent of total revenue	21 %	20 %	20 %		23 %		22 %		20 %		14 %		12 %		14 %		16 %		13 %	23 %	14 %	12 %	16 %	8 %	16 %	9 %	10 %	11 %	8 %	18 %	11 %	12 %	13 %	7 %	17 %	13 %	17 %	14 %	13 %	23 %	12 %	15 %	16 %	15 %	18 %	10 %	10 %	14 %	10 %	17 %	5 %	5 %	10 %	6 %	13 %	9 %	14 %	11 %	12 %	18 %	12 %	14 %	14 %	11 %	14 %	11 %	14 %	13 %	11 %	13 %	11 %	12 %
1 This spreadsheet uses the definition of Adjusted EBITDA as outlined above and therefore does not include the pro-forma impact of acquisitions; however, the senior unsecured notes' covenants allow for the inclusion of pro-forma impacts to Adjusted EBITDA.
2 Depreciation and amortization in this reconciliation prior to 2018 may be slightly different than depreciation and amortization on our cash flow statement to avoid double counting software amortization already captured in SBC.
3 SBC expense in this reconciliation excludes any portion already included in restructuring-related charges to avoid double counting.
4 Adjusted EBITDA includes 100% of the results of our consolidated subsidiaries and therefore does not give effect to Adjusted EBITDA attributable to noncontrolling interests. This is to most closely align to our debt covenant and cash flow reporting.
Note: values may not sum to total due to rounding.
Reference:
Consolidated revenue	$152,149	$255,933	$400,657		$515,826		$670,035		$817,009		$1,020,269		$1,167,478		$1,270,236		$1,494,206		$375,748	$496,274	$436,817	$479,205	$1,788,044	$443,713	$576,851	$550,585	$564,256	$2,135,405	$563,284	$762,054	$636,069	$631,134	$2,592,541	$588,981	$825,567	$661,814	$674,714	$2,751,076	$633,959	$820,333	$597,960	$429,106	$2,481,358	$586,500	$780,904	$573,362	$635,195	$2,575,961	$657,599	$849,716	$657,412	$722,828	$2,887,555	$703,415	$845,202	$742,164	$788,846	$3,079,627	$757,294	$921,363	$780,588	$832,611	$3,291,856	$804,969	$939,159	$789,468	$869,483	$3,403,079	$863,277	$1,042,202	$886,209	$2,791,688

Segment Revenue

Segment Revenue1 In $ thousands except where noted
	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sept 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
REVENUE:
VistaPrint3	$294,062	$391,401	$330,848	$329,810	$1,346,121	$326,286	$439,332	$366,627	$366,896	$1,499,141	$345,320	$443,940	$358,660	$360,402	$1,508,322	$343,171	$433,305	$316,310	$244,505	$1,337,291	$329,291	$431,076	$321,965	$345,923	$1,428,255	$349,480	$448,114	$349,216	$368,099	$1,514,909	$369,644	$438,138	$396,856	$410,366	$1,615,004	$396,890	$485,496	$418,119	$442,158	$1,742,663	$429,576	$497,742	$430,726	$466,502	$1,824,546	$454,909	$532,827	$460,368	$1,448,104
as % of revenue	66 %	68 %	60 %	58 %	63 %	58 %	58 %	58 %	58 %	58 %	59 %	54 %	54 %	53 %	55 %	54 %	53 %	53 %	57%	54%	56 %	56 %	57 %	55 %	56 %	53 %	53 %	53 %	51 %	52 %	53 %	52 %	53 %	52 %	52 %	52 %	53 %	54 %	53 %	53 %	53 %	53 %	55 %	54 %	54 %	53 %	51 %	52 %	52 %
PrintBrothers3	$72,853	82,549	77,117	85,669	318,188	91,874	107,366	103,685	107,851	410,776	101,389	116,314	109,305	116,979	443,987	109,290	126,617	109,496	72,518	417,921	100,112	121,806	93,997	105,851	421,766	125,357	137,694	119,960	143,941	526,952	132,810	148,799	139,711	157,757	579,077	152,579	165,558	150,685	170,782	639,604	160,424	174,516	155,989	178,258	669,187	184,711	219,903	203,077	607,691
as % of revenue	16 %	14 %	14 %	15 %	15 %	16 %	14 %	16 %	17 %	16 %	17 %	14 %	16 %	17 %	16 %	17 %	15 %	18 %	17%	17%	17 %	15 %	16 %	17 %	16 %	19 %	16 %	18 %	20 %	18 %	19 %	18 %	19 %	20 %	19 %	20 %	18 %	19 %	21 %	19 %	20 %	19 %	20 %	21 %	20 %	21 %	21 %	23 %	22 %
The Print Group3	$59,104	69,839	65,359	76,123	270,425	68,612	85,631	80,463	85,767	320,473	71,000	87,740	79,027	88,105	325,872	72,258	87,699	68,537	46,720	275,214	66,437	76,204	59,945	72,948	275,534	72,820	90,130	75,361	91,279	329,590	76,090	88,197	84,569	94,278	343,134	79,489	92,218	87,149	96,191	355,047	84,202	98,962	89,698	106,411	379,273	96,710	115,150	107,242	319,102
as % of revenue	13 %	12 %	12 %	13 %	13 %	12 %	11 %	13 %	14 %	12 %	12 %	11 %	12 %	13 %	12 %	11 %	11 %	11 %	11%	11%	11 %	10 %	10 %	11 %	11 %	11 %	11 %	11 %	13 %	11 %	11 %	10 %	11 %	12 %	11 %	10 %	10 %	11 %	12 %	11 %	10 %	11 %	11 %	12 %	11 %	11 %	11 %	12 %	11 %
National Pen3	N/A	N/A	58,828	53,884	112,712	59,717	126,098	81,545	65,906	333,266	65,971	132,951	79,721	69,766	348,409	70,163	127,985	68,362	32,964	299,474	67,649	114,692	62,220	68,967	313,528	69,264	124,717	72,243	75,608	341,832	81,656	120,590	81,053	82,890	366,189	86,909	130,178	88,718	83,712	389,517	93,590	131,495	88,396	93,757	407,238	103,209	150,914	96,986	351,109
as % of revenue	N/A	N/A	11 %	10 %	5 %	11 %	17 %	13 %	10 %	13 %	11 %	16 %	12 %	10 %	13 %	11 %	16 %	11 %	8%	12%	12 %	15 %	11 %	11 %	12 %	11 %	15 %	11 %	10 %	12 %	12 %	14 %	11 %	11 %	12 %	11 %	14 %	11 %	10 %	12 %	12 %	14 %	11 %	11 %	12 %	12 %	14 %	11 %	13 %
All Other Businesses3	$18,807	34,469	19,983	20,390	93,649	18,704	7,498	6,998	7,030	40,230	7,715	48,256	38,016	42,215	136,202	42,276	49,774	39,237	42,502	173,789	43,478	55,365	44,062	49,133	192,038	47,871	57,719	48,486	51,786	205,862	51,837	60,000	49,036	52,595	213,468	51,929	60,467	49,354	54,970	216,720	57,240	60,433	51,247	58,955	227,875	61,742	67,177	60,527	189,446
as % of revenue	4 %	6 %	4 %	4 %	4 %	3 %	1 %	1 %	1 %	2 %	1 %	6 %	6 %	6 %	5 %	7 %	6 %	7 %	10%	7%	7 %	7 %	8 %	8 %	7 %	7 %	7 %	7 %	7 %	7 %	7 %	7 %	7 %	7 %	7 %	7 %	7 %	6 %	7 %	7 %	7 %	6 %	6 %	7 %	7 %	7 %	6 %	7 %	7 %
Inter-segment eliminations*3	($1,113)	(1,407)	(1,550)	(1,620)	(5,690)	(1,909)	(3,871)	(3,249)	(2,316)	(11,345)	(2,414)	(3,634)	(2,915)	(2,753)	(11,716)	(3,199)	(5,047)	(3,982)	(10,103)	(22,331)	(20,467)	(18,239)	(8,827)	(7,627)	(55,160)	(7,193)	(8,658)	(7,854)	(7,885)	(31,590)	(8,622)	(10,522)	(9,061)	(9,040)	(37,245)	(10,502)	(12,554)	(13,436)	(15,201)	(51,694)	(20,063)	(23,989)	(26,588)	(34,400)	(105,040)	(38,004)	(43,769)	(41,991)	(123,764)
Total revenue	$443,713	576,851	550,585	564,256	2,135,405	$563,284	$762,054	$636,069	$631,134	$2,592,541	$588,981	$825,567	$661,814	$674,714	$2,751,076	$633,959	$820,333	$597,960	$429,106	$2,481,358	$586,500	$780,904	$573,362	$635,195	$2,575,961	$657,599	$849,716	$657,412	$722,828	$2,887,555	$703,415	$845,202	$742,164	$788,846	$3,079,627	$757,294	$921,363	$780,588	$832,611	$3,291,856	$804,969	$939,159	$789,468	$869,483	$3,403,079	$863,277	$1,042,202	$886,209	$2,791,688
*INTER-SEGMENT REVENUE:
VistaPrint3	$1,113	$1,407	$1,550	$1,620	$5,690	$1,039	$1,896	$1,736	$958	$5,629	$1,250	$2,088	$1,279	$1,233	$5,851	$1,328	$2,525	$1,607	$720	$6,180	$422	$671	$611	$634	$2,338	$702	$1,105	$1,550	$12	$3,370	$785	$904	$484	$521	$2,694	$538	$785	$487	$568	$2,379	$985	$718	$739	$1,103	$3,546	$1,452	$2,455	$2,209	$6,116
PrintBrothers3	-	-	-	-	-	424	596	480	569	2,068	358	353	242	273	1,226	243	329	250	112	934	171	242	166	241	820	229	521	607	371	1,728	428	711	524	697	2,360	1,037	1,180	1,132	1,349	4,699	1,055	1,079	974	1,969	5,078	3,262	3,979	3,001	10,242
The Print Group3	-	-	-	-	-	-	354	228	109	691	58	439	112	187	796	432	986	920	3,656	5,994	6,059	6,861	2,409	1,975	17,304	1,665	2,534	1,476	1,600	7,275	1,099	1,906	1,472	1,644	6,121	1,686	2,192	1,617	1,932	7,428	3,294	6,951	7,075	10,150	27,470	10,549	13,984	14,235	38,768
National Pen3	N/A	N/A	-	-	-	446	1,024	805	681	2,956	750	754	1,280	945	3,729	981	966	981	4,878	7,806	13,076	9,737	5,079	4,013	31,905	3,842	3,715	3,143	4,199	14,898	4,713	5,452	5,125	4,429	19,718	5,060	5,435	6,675	6,620	23,791	7,853	6,783	7,968	9,742	32,346	11,174	12,223	9,847	33,244
All Other Businesses3	-	-	-	-	-	-	-	-	-	-	-	-	-	112	112	215	241	224	737	1,417	739	728	562	764	2,793	755	783	1,078	1,703	4,319	1,598	1,549	1,457	1,749	6,352	2,180	2,961	3,524	4,733	13,398	6,874	8,458	9,832	11,436	36,600	11,567	11,128	12,699	35,394
Total inter-segment revenue3	$1,113	$1,407	$1,550	$1,620	$5,690	$1,909	$3,870	$3,249	$2,317	$11,345	$2,416	$3,634	$2,913	$2,750	$11,713	$3,199	$5,047	$3,982	$10,103	$22,331	$20,467	$18,239	$8,827	$7,627	$55,160	$7,193	$8,658	$7,854	$7,885	$31,590	$8,622	$10,522	$9,061	$9,040	$37,245	$10,502	$12,554	$13,436	$15,201	$51,694	$20,063	$23,989	$26,588	$34,400	$105,040	$38,004	$43,769	$41,991	$123,764
SEGMENT REVENUE BY GEOGRAPHIC REGION2:
VistaPrint3
North America	N/A	N/A	N/A	N/A	$917,125	$227,010	$276,264	$249,749	$260,751	$1,013,774	$246,121	$285,304	$250,229	$259,274	$1,040,928	$247,085	$284,345	$222,294	$174,944	$928,668	$233,998	$277,365	$224,047	$249,500	$984,910	$253,940	$296,575	$245,303	$267,572	$1,063,390	$273,658	$298,698	$284,457	$298,187	$1,155,000	$289,055	$325,693	$296,718	$320,661	$1,232,126	$309,175	$326,538	$301,789	$328,667	$1,266,169	$317,720	$344,627	$313,395	$975,742
Europe	N/A	N/A	N/A	N/A	340,286	76,674	132,495	92,881	84,092	386,142	76,670	130,731	86,332	80,034	373,767	74,458	121,143	74,335	55,303	325,239	75,344	$128,870	75,704	74,628	354,546	73,161	121,471	80,945	77,698	353,275	72,795	112,698	90,332	90,419	366,244	85,407	131,138	99,381	98,481	414,407	95,657	140,852	105,425	112,235	454,169	109,482	154,581	119,035	383,098
Other	N/A	N/A	N/A	N/A	83,020	21,563	28,677	22,261	21,095	93,596	21,279	25,816	20,821	19,860	87,776	20,300	25,292	18,074	13,538	77,204	19,527	$24,170	21,603	21,161	86,461	21,677	28,963	21,418	22,816	94,874	22,406	25,838	21,583	21,239	91,066	21,890	27,880	21,533	22,448	93,751	23,759	29,633	22,775	24,496	100,663	26,255	31,164	25,729	83,148
Inter-segment revenue3	N/A	N/A	N/A	N/A	5,690	1,039	1,896	1,736	958	5,629	1,250	2,088	1,279	1,233	5,851	1,328	2,525	1,607	720	6,180	422	671	611	634	2,338	702	1,105	1,550	12	3,370	785	904	484	521	2,694	538	785	487	568	2,379	985	718	739	1,103	3,546	1,452	2,455	2,209	6,116
Total segment revenue3	N/A	N/A	N/A	N/A	$1,346,121	$326,286	$439,332	$366,627	$366,896	$1,499,141	$345,320	$443,939	$358,661	$360,401	$1,508,321	$343,171	$433,305	$316,310	$244,505	$1,337,291	$329,291	$431,076	$321,965	$345,923	$1,428,255	$349,480	$448,114	$349,216	$368,099	$1,514,909	$369,644	$438,138	$396,856	$410,366	$1,615,004	$396,890	$485,496	$418,119	$442,158	$1,742,663	$429,576	$497,742	$430,726	$466,502	$1,824,546	$454,909	$532,827	$460,368	$1,448,104
PrintBrothers3
North America	N/A	N/A	N/A	N/A	N/A	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-
Europe	N/A	N/A	N/A	N/A	$318,188	91,450	106,770	103,205	107,283	408,708	101,031	115,960	109,062	116,706	442,760	109,047	126,288	109,246	72,406	416,987	99,941	121,564	93,831	105,610	420,946	125,128	137,173	119,353	143,570	525,224	132,382	148,088	139,187	157,060	576,717	151,542	164,378	149,553	169,433	634,905	159,369	173,437	155,015	176,289	664,109	181,449	215,924	200,076	597,449
Other	N/A	N/A	N/A	N/A	N/A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inter-segment revenue3	N/A	N/A	N/A	N/A	N/A	424	596	480	569	2,069	358	353	242	273	1,227	243	329	250	112	934	171	242	166	241	820	229	521	607	371	1,728	428	711	524	697	2,360	1,037	1,180	1,132	1,349	4,699	1,055	1,079	974	1,969	5,078	3,262	3,979	3,001	10,242
Total segment revenue3	N/A	N/A	N/A	N/A	$318,188	$91,874	$107,366	$103,685	$107,852	$410,777	$101,389	$116,313	$109,304	$116,979	$443,985	$109,290	$126,617	$109,496	$72,518	$417,921	$100,112	$121,806	$93,997	$105,851	$421,766	$125,357	$137,694	$119,960	$143,941	$526,952	$132,810	$148,799	$139,711	$157,757	$579,077	$152,579	$165,558	$150,685	$170,782	$639,604	$160,424	$174,516	$155,989	$178,258	$669,187	$184,711	$219,903	$203,077	$607,691
The Print Group3
North America	N/A	N/A	N/A	N/A	$2,063	$1,016	$1,079	$45	($5)	$2,136	($0)	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$-	$140	$140	$618	$913	$797	$2,328
Europe	N/A	N/A	N/A	N/A	268,362	67,596	84,198	80,190	85,663	317,646	70,944	87,302	78,914	87,918	325,076	71,826	86,713	67,617	43,064	269,220	60,378	69,343	57,536	70,973	258,230	71,155	87,596	73,885	89,679	322,315	74,991	86,291	83,097	92,634	337,013	77,803	90,026	85,532	94,259	347,619	80,908	92,011	82,623	96,121	351,663	85,543	100,253	92,210	278,006
Other	N/A	N/A	N/A	N/A	N/A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inter-segment revenue3	N/A	N/A	N/A	N/A	N/A	-	354	228	109	691	58	439	112	187	796	432	986	920	3,656	5,994	6,059	6,861	2,409	1,975	17,304	1,665	2,534	1,476	1,600	7,275	1,099	1,906	1,472	1,644	6,121	1,686	2,192	1,617	1,932	7,428	3,294	6,951	7,075	10,150	27,470	10,549	13,984	14,235	38,768
Total segment revenue3	N/A	N/A	N/A	N/A	$270,425	$68,612	$85,631	$80,463	$85,767	$320,473	$71,002	$87,741	$79,026	$88,105	325,874	72,258	87,699	68,537	46,720	$275,214	$66,437	$76,204	$59,945	$72,948	$275,534	$72,820	$90,130	$75,361	$91,279	$329,590	$76,090	$88,197	$84,569	$94,278	$343,134	$79,489	$92,218	$87,149	$96,191	$355,047	$84,202	$98,962	$89,698	$106,411	$379,273	$96,710	$115,150	$107,242	$319,102
National Pen3
North America	N/A	N/A	N/A	N/A	$62,614	$35,001	$55,286	$40,813	$39,646	$170,746	$38,558	$57,348	$41,697	$41,822	$179,425	$41,542	$54,400	$41,093	$17,597	$154,632	$30,321	$48,678	$33,398	$42,460	$154,857	$41,038	$57,976	$43,483	$50,558	$193,055	$49,447	$62,209	$50,937	$54,099	$216,692	$52,735	$59,229	$51,932	$51,429	$215,325	$52,288	$58,486	$49,708	$52,611	$213,093	$53,431	$60,254	$50,478	$164,163
Europe	N/A	N/A	N/A	N/A	39,693	19,459	60,820	31,983	20,091	132,353	21,036	62,473	29,895	20,977	134,381	22,313	60,887	21,146	7,700	112,046	20,604	47,578	19,731	18,091	106,004	20,851	53,797	21,876	17,297	113,821	24,945	50,799	23,811	22,452	122,007	27,737	63,483	28,928	24,557	144,705	32,007	64,702	29,586	30,060	156,355	36,951	76,194	35,145	148,290
Other	N/A	N/A	N/A	N/A	10,405	4,812	8,968	7,944	5,489	27,213	5,627	12,376	6,849	6,022	30,874	5,327	11,732	5,142	2,789	24,990	3,648	8,699	4,012	4,403	20,762	3,533	9,229	3,741	3,554	20,058	2,552	2,130	1,180	1,910	7,772	1,377	2,031	1,183	1,106	5,697	1,442	1,524	1,134	1,344	5,444	1,653	2,243	1,516	5,412
Inter-segment revenue3	N/A	N/A	N/A	N/A	N/A	446	1,024	805	681	2,956	750	754	1,280	945	3,729	981	966	981	4,878	7,806	13,076	9,737	5,079	4,013	31,905	3,842	3,715	3,143	4,199	14,898	4,713	5,452	5,125	4,429	19,718	5,060	5,435	6,675	6,620	23,791	7,853	6,783	7,968	9,742	32,346	11,174	12,223	9,847	33,244
Total segment revenue3	N/A	N/A	N/A	N/A	$112,712	$59,718	$126,098	$81,545	$65,907	$333,268	$65,971	$132,951	$79,721	$69,766	$348,409	$70,163	$127,985	$68,362	$32,964	$299,474	$67,649	$114,692	$62,220	$68,967	$313,528	$69,264	$124,717	$72,243	$75,608	$341,832	$81,656	$120,590	$81,053	$82,890	$366,189	$86,909	$130,178	$88,718	$83,712	$389,517	$93,590	$131,495	$88,396	$93,757	$407,238	$103,209	$150,914	$96,986	$351,109
All Other Businesses3
North America	N/A	N/A	N/A	N/A	$-	$1	$5	$819	$893	$1,718	$1,727	$41,911	$32,880	$35,698	$112,216	$35,406	$44,221	$35,040	$39,128	$153,795	$38,944	$49,662	$39,407	$43,385	$171,398	$41,308	$51,035	$42,047	$43,478	$177,868	$43,292	$52,200	$41,524	$44,128	$181,144	$42,214	$50,570	$39,743	$43,490	$176,017	$43,367	$45,731	$35,783	$40,917	$165,798	$41,942	$46,681	$39,280	$127,903
Europe	N/A	N/A	N/A	N/A	78,954	12,678	-	-	-	12,678	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	27	80	133	186	732	716	1,634
Other	N/A	N/A	N/A	N/A	14,695	6,025	7,493	6,180	6,137	25,835	5,987	6,344	5,136	6,404	23,871	6,655	5,312	3,973	2,637	18,577	3,795	4,975	4,093	4,984	17,847	5,808	5,901	5,361	6,605	23,675	6,947	6,251	6,056	6,718	25,972	7,535	6,936	6,087	6,747	27,305	6,999	6,219	5,605	6,522	25,345	8,047	8,636	7,832	24,515
Inter-segment revenue3	N/A	N/A	N/A	N/A	-	-	-	-	-	-	-	-	-	112	112	215	241	224	737	1,417	739	728	562	764	2,793	755	783	1,078	1,703	4,319	1,598	1,549	1,457	1,749	6,352	2,180	2,961	3,524	4,733	13,398	6,874	8,458	9,832	11,436	36,600	11,567	11,128	12,699	35,394
Total segment revenue3	N/A	N/A	N/A	N/A	$93,649	$18,704	$7,498	$6,999	$7,030	$40,231	$7,714	$48,255	$38,016	$42,214	$136,199	$42,276	$49,774	$39,237	$42,502	$173,789	$43,478	$55,365	$44,062	$49,133	$192,038	$47,871	$57,719	$48,486	$51,786	$205,862	$51,837	$60,000	$49,036	$52,595	$213,468	$51,929	$60,467	$49,354	$54,970	$216,720	$57,240	$60,433	$51,247	$58,955	$227,875	$61,742	$67,177	$60,527	$189,446
1 Quarterly results are unaudited and when added together may not equal annual results due to rounding.
2 Segment revenue by geographic region is in USD.
3 During Q1 FY2026, we recast our segment results back to Q1 FY2023 to reflect an update to our previously implemented methodology for inter-segment transactions. Please see our "Guide to Reporting Changes" at ir.cimpress.com for details.

Constant-Currency Revenue Growt

Reconciliation of Constant-Currency Revenue Growth In $ thousands except where noted
	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
REVENUE GROWTH RECONCILATION BY REPORTABLE SEGMENT:
VistaPrint2
Revenue	$294,062	$391,401	$330,848	$329,810	$1,346,121	$326,286	$439,332	$366,627	$366,896	$1,499,141	$345,320	$443,940	$358,660	$360,402	$1,508,322	$343,171	$433,305	$316,310	$244,505	$1,337,291	$329,291	$431,076	$321,965	$345,923	$1,428,255	$349,480	$448,114	$349,216	$368,099	$1,514,909	$369,644	$438,138	$396,856	$410,366	$1,615,004	$396,890	$485,496	$418,119	$442,158	$1,742,663	$429,576	$497,742	$430,726	$466,502	$1,824,546	$454,909	$532,827	$460,368	$1,448,104
% Change	N/A	N/A	N/A	N/A	N/A	11 %	12 %	11 %	11 %	11 %	6 %	1 %	(2)%	(2)%	1 %	(1)%	(2)%	(12)%	(32)%	(11)%	(4)%	(1)%	2 %	42 %	7 %	6 %	4 %	8 %	6 %	6 %	6 %	(2)%	14 %	11 %	7 %	7 %	11 %	5 %	8 %	8 %	8 %	3 %	3 %	6 %	5 %	6 %	7 %	7 %	7 %
Currency Impact: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	(1)%	(3)%	(4)%	(2)%	(2)%	1 %	2 %	3 %	2 %	2 %	2 %	- %	1 %	1 %	1 %	(1)%	(3)%	(3)%	(5)%	(3)%	(1)%	1 %	2 %	4 %	1 %	4 %	4 %	2 %	1 %	3 %	(1)%	(2)%	- %	- %	(1)%	- %	- %	1 %	(2)%	- %	(1)%	(2)%	(4)%	(3)%
Constant-Currency Revenue Growth	N/A	N/A	N/A	N/A	N/A	10 %	9 %	7 %	9 %	9 %	7 %	3 %	1 %	- %	3 %	1 %	(2)%	(11)%	(31)%	(10)%	(5)%	(4)%	(1)%	37 %	4 %	5 %	5 %	10 %	10 %	7 %	10 %	2 %	16 %	12 %	10 %	6 %	9 %	5 %	8 %	7 %	8 %	3 %	4 %	4 %	5 %	5 %	5 %	3 %	4 %
Impact of Acquisitions/Divestitures: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	(2)%	(4)%	(5)%	(3)%	(3)%	(2)%	(2)%	(2)%	(2)%	(2)%	- %	- %	- %	(1)%	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %
Constant-Currency Revenue Growth Excluding Acquisitions/Divestitures	N/A	N/A	N/A	N/A	N/A	10 %	9 %	7 %	9 %	9 %	7 %	3 %	1 %	- %	3 %	1 %	(2)%	(11)%	(31)%	(10)%	(5)%	(6)%	(5)%	32 %	1 %	2 %	3 %	8 %	8 %	5 %	8 %	2 %	16 %	12 %	9 %	6 %	9 %	5 %	8 %	7 %	8 %	3 %	4 %	4 %	5 %	5 %	5 %	3 %	4 %
PrintBrothers2
Revenue	$72,853	$82,549	$77,117	$85,669	$318,188	$91,874	$107,366	$103,685	$107,851	$410,776	$101,389	$116,314	$109,305	$116,979	$443,987	$109,290	$126,617	$109,496	$72,518	$417,921	$100,112	$121,806	$93,997	$105,851	$421,766	$125,357	$137,694	$119,960	$143,941	$526,952	$132,810	$148,799	$139,711	$157,757	$579,077	$152,579	$165,558	$150,685	$170,782	$639,604	$160,424	$174,516	$155,989	$178,258	$669,187	$184,711	$219,903	$203,077	$607,691
% Change	N/A	N/A	N/A	N/A	N/A	26 %	30 %	35 %	26 %	29 %	10 %	8 %	5 %	8 %	8 %	8 %	9 %	- %	(38)%	(6)%	(8)%	(4)%	(14)%	46 %	1 %	25 %	13 %	28 %	36 %	25 %	6 %	8 %	16 %	10 %	10 %	15 %	11 %	8 %	8 %	10 %	5 %	5 %	4 %	4 %	5 %	15 %	26 %	30 %	24 %
Currency Impact: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	(6)%	(11)%	(18)%	(10)%	(11)%	2 %	4 %	9 %	7 %	5 %	5 %	3 %	3 %	1 %	3 %	(5)%	(7)%	(7)%	(12)%	(7)%	(1)%	5 %	9 %	18 %	8 %	18 %	13 %	6 %	(3)%	8 %	(9)%	(6)%	(2)%	2 %	(3)%	(1)%	1 %	3 %	(5)%	(1)%	(7)%	(10)%	(13)%	(10)%
Constant-Currency Revenue Growth	N/A	N/A	N/A	N/A	N/A	20 %	19 %	17 %	16 %	18 %	12 %	12 %	14 %	15 %	13 %	13 %	12 %	3 %	(37)%	(3)%	(13)%	(11)%	(21)%	34 %	(6)%	24 %	18 %	37 %	54 %	33 %	24 %	21 %	22 %	7 %	18 %	6 %	5 %	6 %	10 %	7 %	4 %	6 %	7 %	(1)%	4 %	8 %	16 %	17 %	14 %
Impact of Acquisitions/Divestitures: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	(4)%	(3)%	(2)%	(2)%	(2)%	- %	- %	- %	(1)%	- %	- %	(1)%	(2)%	(1)%	(1)%	(3)%	- %	- %	(1)%	- %	- %	- %	- %	- %	- %	- %	(1)%	- %	- %	- %	(10)%	(9)%	(7)%
Constant-Currency Revenue Growth Excluding Acquisitions/Divestitures	N/A	N/A	N/A	N/A	N/A	20 %	19 %	17 %	16 %	18 %	12 %	12 %	14 %	15 %	13 %	13 %	8 %	- %	(39)%	(5)%	(15)%	(11)%	(21)%	34 %	(7)%	24 %	18 %	36 %	52 %	32 %	23 %	18 %	22 %	7 %	17 %	6 %	5 %	6 %	10 %	7 %	4 %	6 %	6 %	(1)%	4 %	8 %	6 %	8 %	7 %
The Print Group2
Revenue	$59,104	$69,839	$65,359	$76,123	$270,425	$68,612	$85,631	$80,463	$85,767	$320,473	$71,000	$87,740	$79,027	$88,105	$325,872	$72,258	$87,699	$68,537	$46,720	$275,214	$66,437	$76,204	$59,945	$72,948	$275,534	$72,820	$90,130	$75,361	$91,279	$329,590	$76,090	$88,197	$84,569	$94,278	$343,134	$79,489	$92,218	$87,149	$96,191	$355,047	$84,202	$98,962	$89,698	$106,411	$379,273	$96,710	$115,150	$107,242	$319,102
% Change	N/A	N/A	N/A	N/A	N/A	16 %	23 %	23 %	13 %	19 %	4 %	3 %	(2)%	3 %	2 %	2 %	- %	(13)%	(47)%	(16)%	(8)%	(13)%	(13)%	56 %	0 %	10 %	18 %	26 %	25 %	20 %	4 %	(2)%	12 %	3 %	4 %	4 %	5 %	3 %	2 %	3 %	6 %	7 %	3 %	11 %	7 %	15 %	16 %	20 %	17 %
Currency Impact: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	(5)%	(10)%	(16)%	(9)%	(10)%	1 %	3 %	8 %	6 %	4 %	5 %	3 %	3 %	1 %	3 %	(4)%	(6)%	(7)%	(13)%	(7)%	(2)%	5 %	9 %	17 %	7 %	18 %	12 %	6 %	(2)%	8 %	(7)%	(6)%	(1)%	1 %	(3)%	(1)%	1 %	3 %	(6)%	(1)%	(7)%	(9)%	(12)%	(9)%
Constant-Currency Revenue Growth	N/A	N/A	N/A	N/A	N/A	11 %	13 %	7 %	4 %	9 %	5 %	6 %	6 %	9 %	6 %	7 %	3 %	(10)%	(46)%	(13)%	(12)%	(19)%	(20)%	43 %	(7)%	8 %	23 %	35 %	42 %	27 %	22 %	10 %	18 %	1 %	12 %	(3)%	(1)%	2 %	3 %	0 %	5 %	8 %	6 %	5 %	6 %	8 %	7 %	8 %	8 %
Impact of Acquisitions/Divestitures: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %
Constant-Currency Revenue Growth Excluding Acquisitions/Divestitures	N/A	N/A	N/A	N/A	N/A	11 %	13 %	7 %	4 %	9 %	5 %	6 %	6 %	9 %	6 %	7 %	3 %	(10)%	(46)%	(13)%	(12)%	(19)%	(20)%	43 %	(7)%	8 %	23 %	35 %	42 %	27 %	22 %	10 %	18 %	1 %	12 %	(3)%	(1)%	2 %	3 %	0 %	5 %	8 %	6 %	5 %	6 %	8 %	7 %	8 %	8 %
National Pen2
Revenue	N/A	N/A	$58,828	$53,884	$112,712	$59,717	$126,098	$81,545	$65,906	$333,266	$65,971	$132,951	$79,721	$69,766	$348,409	$70,163	$127,985	$68,362	$32,964	$299,474	$67,649	$114,692	$62,220	$68,967	$313,528	$69,264	$124,717	$72,243	$75,608	$341,832	$81,656	$120,590	$81,053	$82,890	$366,189	$86,909	$130,178	$88,718	$83,712	$389,517	$93,590	$131,495	$88,396	$93,757	$407,238	$103,209	$150,914	$96,986	$351,109
% Change1	N/A	N/A	100 %	100 %	100 %	100 %	100 %	39 %	22 %	196 %	10 %	5 %	(2)%	6 %	5 %	6 %	(4)%	(14)%	(53)%	(14)%	(4)%	(10)%	(9)%	109 %	5 %	2 %	9 %	16 %	10 %	9 %	18 %	(3)%	12 %	10 %	7 %	6 %	8 %	9 %	1 %	6 %	8 %	1 %	- %	12 %	5 %	10 %	15 %	10 %	12 %
Currency Impact: (Favorable)/Unfavorable	N/A	N/A	- %	- %	N/A	- %	- %	(9)%	(3)%	(6)%	1 %	2 %	3 %	2 %	2 %	2 %	1 %	1 %	- %	1 %	(1)%	(3)%	(3)%	(6)%	(3)%	- %	2 %	3 %	4 %	2 %	6 %	6 %	3 %	- %	5 %	(2)%	(3)%	- %	1 %	(1)%	(1)%	- %	1 %	(2)%	(1)%	(2)%	(5)%	(5)%	(4)%
Constant-Currency Revenue Growth	N/A	N/A	100 %	100 %	N/A	100 %	100 %	30 %	19 %	190 %	11 %	7 %	1 %	8 %	7 %	8 %	(3)%	(13)%	(53)%	(13)%	(5)%	(13)%	(12)%	103 %	2 %	2 %	11 %	19 %	14 %	11 %	24 %	3 %	15 %	10 %	12 %	4 %	5 %	9 %	2 %	5 %	7 %	1 %	1 %	10 %	4 %	8 %	10 %	5 %	8 %
Impact of Acquisitions/Divestitures: (Favorable)/Unfavorable	N/A	N/A	(100)%	(100)%	N/A	(100)%	(100)%	- %	- %	(165)%	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %
Constant-Currency Revenue Growth Excluding Acquisitions/Divestitures	N/A	N/A	- %	- %	N/A	- %	- %	30 %	19 %	25 %	11 %	7 %	1 %	8 %	7 %	8 %	(3)%	(13)%	(53)%	(13)%	(5)%	(13)%	(12)%	103 %	2 %	2 %	11 %	19 %	14 %	11 %	24 %	3 %	15 %	10 %	12 %	4 %	5 %	9 %	2 %	5 %	7 %	1 %	1 %	10 %	4 %	8 %	10 %	5 %	8 %
Pro Forma Growth Rates:
Pro Forma Revenue Growth in U.S. Dollars	N/A	N/A	(8)%	(5)%	N/A	(5)%	33 %	N/A	N/A	23 %	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Currency Impact: (Favorable)/Unfavorable	N/A	N/A	3 %	3 %	N/A	(2)%	(5)%	N/A	N/A	(4)%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Pro Forma Revenue Growth in Constant Currency	N/A	N/A	(5)%	(2)%	N/A	(7)%	28 %	N/A	N/A	19 %	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Impact of Discontinued Operations	N/A	N/A	3 %	3 %	N/A	4 %	- %	N/A	N/A	1 %	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Pro Forma Constant-Currency Revenue Growth Excluding Discontinued Operations	N/A	N/A	(2)%	1 %	N/A	(3)%	28 %	N/A	N/A	20 %	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
All Other Businesses2
Revenue	$18,807	$34,469	$19,983	$20,390	$93,649	$18,704	$7,498	$6,998	$7,030	$40,230	$7,715	$48,256	$38,016	$42,215	$136,202	$42,276	$49,774	$39,237	$42,502	$173,789	$43,478	$55,365	$44,062	$49,133	$192,038	$47,871	$57,719	$48,486	$51,786	$205,862	$51,837	$60,000	$49,036	$52,595	$213,468	$51,929	$60,467	$49,354	$54,970	$216,720	$57,240	$60,433	$51,247	$58,955	$227,875	$61,742	$67,177	$60,527	$189,446
% Change	N/A	N/A	N/A	N/A	N/A	(1)%	(78)%	(65)%	(66)%	(57)%	(59)%	544 %	443 %	500 %	239 %	448 %	3 %	3 %	1 %	28 %	3 %	11 %	12 %	16 %	11 %	10 %	4 %	10 %	5 %	7 %	8 %	4 %	1 %	2 %	4 %	- %	1 %	1 %	5 %	2 %	10 %	- %	4 %	7 %	5 %	8 %	11 %	18 %	12 %
Currency Impact: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	(3)%	(1)%	1 %	4 %	- %	8 %	14 %	12 %	9 %	9 %	1 %	1 %	2 %	2 %	1 %	3 %	3 %	3 %	(1)%	1 %	- %	1 %	(1)%	(1)%	- %	- %	(1)%	- %	- %	(0)%	(1)%	(1)%	(1)%	- %	(1)%	2 %	2 %	2 %	1 %	2 %	- %	(1)%	(2)%	(1)%
Constant-Currency Revenue Growth	N/A	N/A	N/A	N/A	N/A	(4)%	(79)%	(64)%	(62)%	(57)%	(51)%	558 %	455 %	509 %	248 %	449 %	4 %	5 %	3 %	29 %	6 %	14 %	15 %	15 %	12 %	10 %	5 %	9 %	4 %	7 %	8 %	3 %	1 %	2 %	4 %	(1)%	- %	- %	5 %	1 %	12 %	2 %	6 %	8 %	7 %	8 %	10 %	16 %	11 %
Impact of Acquisitions/Divestitures: (Favorable)/Unfavorable	N/A	N/A	N/A	N/A	N/A	78 %	95 %	143 %	121 %	111 %	92 %	(546)%	(470)%	(509)%	(241)%	(453)%	- %	- %	1 %	(25)%	- %	- %	- %	(2)%	- %	(5)%	(5)%	(4)%	(1)%	(4)%	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %
Constant-Currency Revenue Growth Excluding Acquisitions/Divestitures	N/A	N/A	N/A	N/A	N/A	74 %	16 %	79 %	59 %	54 %	41 %	12 %	(15)%	- %	7 %	(4)%	4 %	5 %	4 %	4 %	6 %	14 %	15 %	13 %	12 %	5 %	- %	5 %	3 %	3 %	8 %	3 %	1 %	2 %	4 %	(1)%	- %	- %	5 %	1 %	12 %	2 %	6 %	8 %	7 %	8 %	10 %	16 %	11 %
Inter-Segment Eliminations2	($1,113)	($1,407)	($1,550)	($1,620)	($5,690)	($1,909)	($3,871)	($3,249)	($2,316)	($11,345)	($2,414)	($3,634)	($2,915)	($2,753)	($11,716)	($3,199)	($5,047)	($3,982)	($10,103)	($22,331)	($20,467)	($18,239)	($8,827)	($7,627)	($55,160)	($7,193)	($8,658)	($7,854)	($7,885)	($31,590)	($8,622)	($10,522)	($9,061)	($9,040)	($37,245)	($10,502)	($12,554)	($13,436)	($15,201)	($51,694)	($20,063)	($23,989)	($26,588)	($34,400)	($105,040)	($38,004)	($43,769)	($41,991)	($123,764)
Total Revenue
Revenue	$443,713	$576,851	$550,585	$564,256	$2,135,405	$563,284	$762,054	$636,069	$631,134	$2,592,541	$588,981	$825,567	$661,814	$674,714	$2,751,076	$633,959	$820,333	$597,960	$429,106	$2,481,358	$586,500	$780,904	$573,362	$635,195	$2,575,961	$657,599	$849,716	$657,412	$722,828	$2,887,555	$703,415	$845,202	$742,164	$788,846	$3,079,627	$757,294	$921,363	$780,588	$832,611	$3,291,856	$804,969	$939,159	$789,468	$869,483	$3,403,079	$863,277	$1,042,202	$886,209	$2,791,688
% Change	18 %	16 %	26 %	18 %	19 %	27 %	32 %	16 %	12 %	21 %	5 %	8 %	4 %	7 %	6 %	8 %	(1)%	(10)%	(36)%	(10)%	(7)%	(5)%	(4)%	48 %	4 %	12 %	9 %	15 %	14 %	12 %	7 %	(1)%	13 %	9 %	7 %	8 %	9 %	5 %	6 %	7 %	6 %	2 %	1 %	4 %	3 %	7 %	11 %	12 %	10 %
Currency Impact: (Favorable)/Unfavorable	1 %	2 %	2 %	2 %	2 %	(3)%	(5)%	(8)%	(4)%	(4)%	1 %	3 %	5 %	3 %	3 %	2 %	2 %	2 %	1 %	1 %	(2)%	(3)%	(4)%	(6)%	(3)%	(1)%	2 %	4 %	7 %	3 %	8 %	7 %	3 %	- %	4 %	(4)%	(3)%	(1)%	- %	(2)%	- %	- %	2 %	(2)%	(0)%	(3)%	(5)%	(6)%	(4)%
Constant-Currency Revenue Growth	19 %	18 %	28 %	20 %	21 %	24 %	27 %	8 %	8 %	17 %	6 %	11 %	9 %	10 %	9 %	10 %	1 %	(8)%	(35)%	(9)%	(9)%	(8)%	(8)%	42 %	1 %	11 %	11 %	19 %	21 %	15 %	15 %	6 %	16 %	9 %	11 %	4 %	6 %	4 %	6 %	5 %	6 %	2 %	3 %	2 %	3 %	4 %	6 %	6 %	6 %
Impact of Acquisitions/Divestitures: (Favorable)/Unfavorable	(13)%	(10)%	(17)%	(11)%	(13)%	(12)%	(16)%	3 %	3 %	(6)%	2 %	(5)%	(6)%	(5)%	(4)%	(6)%	(1)%	(1)%	(1)%	(2)%	(1)%	(1)%	(2)%	(4)%	(2)%	(2)%	(2)%	(2)%	(2)%	(2)%	(1)%	(1)%	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	(2)%	(2)%	(2)%
Constant-Currency Revenue Growth Excluding Acquisitions/Divestitures	6 %	8 %	11 %	9 %	8 %	12 %	11 %	11 %	11 %	11 %	8 %	6 %	3 %	5 %	5 %	4 %	- %	(9)%	(36)%	(11)%	(10)%	(9)%	(10)%	38 %	(1)%	9 %	9 %	17 %	19 %	13 %	14 %	5 %	16 %	9 %	11 %	4 %	6 %	4 %	6 %	5 %	6 %	2 %	3 %	2 %	3 %	4 %	4 %	4 %	4 %
1 National Pen's reported revenue growth was 100% in Q3 FY2017, Q4 FY2017, Q1 FY2018 and Q2 FY2018 since we did not own this business in the year-ago period.
2 During Q1 FY2026, we recast our segment results back to Q1 FY2023 to reflect an update to our previously implemented methodology for inter-segment transactions. Please see our "Guide to Reporting Changes" at ir.cimpress.com for details.
Note: values may not sum to total due to rounding.

Segment EBITDA & Other

Segment EBITDA & Other1 In $ thousands except where noted
	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
SEGMENT EBITDA (LOSS)2:
VistaPrint	$34,875	$78,874	$49,441	$49,412	$212,602	$46,419	$115,635	$75,050	$72,679	$309,783	$65,540	$102,511	$88,097	$93,549	$349,697	$87,954	$138,814	$74,079	$66,789	$367,636	$90,848	$112,060	$64,295	$57,768	$324,971	$68,955	$92,725	$27,669	$13,814	$203,163	$36,506	$61,808	$66,567	$83,790	$248,671	$81,161	$110,515	$79,690	$87,636	$359,002	$81,142	$97,190	$83,183	$105,999	$367,514	$89,986	$106,960	$88,875	$285,821
as % of segment revenue	12 %	20 %	15 %	15 %	16 %	14 %	26 %	20 %	20 %	21 %	19 %	23 %	25 %	26 %	23 %	26 %	32 %	23 %	27 %	27 %	28 %	26 %	20 %	17 %	23 %	20 %	21 %	8 %	4 %	13 %	10 %	14 %	17 %	20 %	15 %	20 %	23 %	19 %	20 %	21 %	19 %	20 %	19 %	23 %	20 %	20 %	20 %	19 %	20 %
PrintBrothers	8,872	8,849	7,064	8,084	32,869	8,468	11,982	9,114	11,565	41,129	10,571	11,691	8,099	13,113	43,474	10,777	16,459	8,686	3,451	39,373	9,715	16,457	7,560	9,412	43,144	16,283	18,605	12,392	19,494	66,774	15,130	19,808	16,076	20,710	71,724	20,227	28,823	17,243	25,363	91,656	20,194	23,373	17,770	22,178	83,515	25,739	28,281	22,113	76,133
as % of segment revenue	12 %	11 %	9 %	9 %	10 %	9 %	11 %	9 %	11 %	10 %	10 %	10 %	7 %	11 %	10 %	10 %	13 %	8 %	5 %	9 %	10 %	14 %	8 %	9 %	10 %	13 %	14 %	10 %	14 %	13 %	11 %	13 %	12 %	13 %	12 %	13 %	17 %	11 %	15 %	14 %	13 %	13 %	11 %	12 %	12 %	14 %	13 %	11 %	13 %
The Print Group	9,491	12,840	11,058	17,625	51,014	12,223	16,777	15,029	19,500	63,529	11,846	16,368	15,658	20,125	63,997	13,634	18,105	10,934	8,933	51,606	12,183	12,569	6,475	11,899	43,126	14,389	16,358	11,923	15,994	58,664	11,488	12,551	12,662	19,599	56,300	12,569	17,414	17,294	19,470	66,747	18,062	18,905	15,513	19,969	72,449	18,671	23,141	20,052	61,864
as % of segment revenue	16 %	18 %	17 %	23 %	19 %	18 %	20 %	19 %	23 %	20 %	17 %	19 %	20 %	23 %	20 %	19 %	21 %	16 %	19 %	19 %	18 %	16 %	11 %	16 %	16 %	20 %	18 %	16 %	18 %	18 %	15 %	14 %	15 %	21 %	16 %	16 %	19 %	20 %	20 %	19 %	21 %	19 %	17 %	19 %	19 %	19 %	20 %	19 %	19 %
National Pen	N/A	N/A	(1,497)	2,430	933	2,706	19,367	2,136	5,229	29,438	(16,468)	26,634	113	7,020	17,299	(9,850)	28,099	(1,244)	(9,400)	7,605	(10,671)	18,728	(3,324)	6,911	11,644	(8,048)	31,599	(898)	4,192	26,845	(1,306)	24,752	(3,397)	3,559	23,608	(8,649)	25,471	4,353	9,068	30,243	(4,572)	23,373	3,934	9,177	31,912	(2,392)	25,569	6,730	29,907
as % of segment revenue	N/A	N/A	(3)%	5 %	1 %	5 %	15 %	3 %	8 %	9 %	(25)%	20 %	- %	10 %	5 %	(14)%	22 %	(2)%	(29)%	3 %	(16)%	16 %	(5)%	10 %	4 %	(12)%	25 %	(1)%	6 %	8 %	(2)%	21 %	(4)%	4 %	6 %	(10)%	20 %	5 %	11 %	8 %	(5)%	18 %	4 %	10 %	8 %	(2)%	17 %	7 %	9 %
All Other Businesses	(1,705)	5,184	(904)	(1,559)	1,016	(330)	(3,009)	(3,419)	(3,845)	(10,603)	(4,722)	(2,294)	(1,149)	1,848	(6,317)	1,717	3,668	3,187	8,902	17,474	8,609	10,657	6,515	5,926	31,707	4,891	6,264	6,044	6,028	23,227	6,130	5,321	4,991	8,557	24,999	6,544	8,105	4,177	7,098	25,924	6,862	3,785	5,297	6,534	22,478	9,080	4,492	5,345	18,917
as % of segment revenue	(9)%	15 %	(5)%	(8)%	1 %	(2)%	(40)%	(49)%	(55)%	(26)%	(61)%	(5)%	(3)%	4 %	(5)%	4 %	7 %	8 %	21 %	10 %	20 %	19 %	15 %	12 %	17 %	10 %	11 %	12 %	12 %	11 %	12 %	9 %	10 %	16 %	12 %	13 %	13 %	8 %	13 %	12 %	12 %	6 %	10 %	11 %	10 %	15 %	7 %	9 %	10 %
Inter-segment eliminations	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	(3,214)	(3,841)	(3,385)	(3,435)	(13,875)	(4,153)	(4,841)	(5,329)	(6,264)	(20,587)	(8,459)	(10,137)	(11,379)	(14,313)	(44,288)	(15,835)	(17,413)	(17,726)	(50,974)
Total Segment EBITDA3	51,533	105,747	65,162	75,992	298,434	69,486	160,752	97,910	105,128	433,276	66,767	154,910	110,818	135,655	468,150	104,232	205,145	95,642	78,674	483,693	110,684	170,471	81,521	91,916	454,592	96,470	165,551	57,130	59,522	378,671	64,734	120,399	93,514	132,780	411,427	107,699	185,487	117,428	142,371	552,985	113,229	156,489	114,317	149,543	533,580	125,249	171,030	125,389	421,668
Central and corporate costs ex. unallocated SBC2,4	(24,343)	(24,035)	(23,739)	(23,779)	(95,895)	(27,708)	(27,547)	(28,616)	(28,968)	(112,839)	(30,765)	(29,811)	(31,151)	(29,340)	(121,067)	(34,803)	(35,588)	(34,945)	(29,438)	(134,772)	(30,561)	(30,219)	(32,804)	(35,452)	(129,036)	(35,056)	(34,761)	(36,399)	(38,741)	(144,956)	(37,440)	(37,432)	(40,331)	(33,666)	(148,869)	(33,814)	(33,764)	(36,794)	(36,426)	(140,798)	(37,025)	(39,653)	(38,298)	(38,304)	(153,280)	(38,424)	(42,482)	(36,570)	(117,476)
Unallocated SBC4	(1,457)	(5,305)	(2,011)	(4,573)	(13,346)	(2,072)	(7,486)	(8,600)	(7,040)	(25,198)	(4,068)	11,138	(150)	(3,149)	3,771	499	(2,774)	(3,698)	(954)	(6,927)	(1,150)	(494)	(1,302)	(3,672)	(6,618)	(1,131)	(1,901)	(1,820)	(1,991)	(6,843)	957	1,767	3,937	1,207	7,868	348	(3,883)	(4,523)	(3,436)	(11,494)	(1,834)	670	1,657	(2,509)	(2,016)	(211)	(1,990)	35	(2,166)
Exclude: share-based compensation included in segment EBITDA	7,467	10,676	6,165	8,423	32,731	6,769	11,801	12,774	11,003	42,347	8,917	(5,612)	4,504	7,594	15,403	4,750	8,325	8,908	11,269	33,252	8,283	5,243	9,545	13,963	37,034	11,006	12,505	12,704	13,551	49,766	10,475	11,547	7,242	10,418	39,682	12,453	17,649	18,397	17,085	65,584	15,633	14,373	12,684	16,189	58,879	14,793	16,831	14,630	46,254
Include: Realized gains (losses) on certain currency derivatives not included in segment EBITDA	1,888	6,839	4,591	3,156	16,474	(634)	(3,513)	(4,811)	(2,487)	(11,445)	1,607	7,446	4,836	6,400	20,289	4,838	10,408	5,001	4,286	24,533	1,217	(1,578)	(1,936)	(4,557)	(6,854)	(3,672)	674	2,011	5,411	4,424	6,869	14,901	4,783	3,171	29,724	2,050	945	(349)	(240)	2,406	(2,232)	375	340	(2,477)	(3,994)	(2,692)	(4,546)	(2,959)	(10,197)
Adjusted EBITDA	35,089	93,922	50,169	59,219	238,399	45,841	134,007	68,657	77,636	326,141	42,457	138,071	88,857	117,162	386,547	79,516	185,517	70,908	63,838	399,779	88,473	143,423	55,024	62,198	349,118	67,616	142,068	33,626	37,753	281,063	45,595	111,182	69,145	113,910	339,832	88,736	166,434	94,158	119,354	468,682	87,771	132,254	90,700	122,442	433,167	98,715	138,843	100,525	338,083
Depreciation and amortization	(35,541)	(36,977)	(44,522)	(42,616)	(159,656)	(42,384)	(41,299)	(43,437)	(41,885)	(169,005)	(40,718)	(44,502)	(44,055)	(43,682)	(172,957)	(42,535)	(42,356)	(41,840)	(41,212)	(167,943)	(42,290)	(43,597)	(42,809)	(44,516)	(173,212)	(44,432)	(45,314)	(43,651)	(42,284)	(175,681)	(40,942)	(40,874)	(39,751)	(40,861)	(162,428)	(39,942)	(39,089)	(37,072)	(35,661)	(151,764)	(35,546)	(35,211)	(34,300)	(36,074)	(141,131)	(36,618)	(36,618)	(37,406)	(110,642)
Waltham, MA lease depreciation adjustment5	1,030	1,030	1,030	1,030	4,120	1,030	1,030	1,030	1,030	4,120	1,030	1,030	1,030	1,030	4,120	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from insurance	(650)	-	(157)	-	(807)	-	(377)	(299)	-	(676)	-	-	-	-	-	-	-	-	-	-	-	-	(122)	-	(122)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earn-out related charges	(16,247)	(7,010)	(4,882)	(12,245)	(40,384)	(1,137)	(1,254)	-	-	(2,391)	-	-	-	-	-	-	-	-	54	54	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense6	(11,571)	(11,277)	(6,541)	(12,982)	(42,371)	(6,809)	(12,808)	(12,774)	(16,748)	(49,139)	(8,916)	2,720	(4,504)	(7,596)	(18,296)	(4,750)	(8,325)	(8,908)	(11,269)	(33,252)	(8,283)	(5,243)	(9,545)	(13,963)	(37,034)	(11,006)	(12,505)	(12,704)	(13,551)	(49,766)	(10,475)	(11,547)	(7,242)	(10,418)	(39,682)	(12,453)	(17,649)	(18,397)	(17,085)	(65,584)	(15,633)	(14,373)	(12,684)	(16,189)	(58,879)	(14,793)	(16,831)	(14,630)	(46,254)
Certain impairments and other adjustments	-	-	(9,556)	-	(9,556)	1	(498)	(868)	(1,528)	(2,893)	87	(65)	(786)	(9,936)	(10,700)	176	(936)	(101,976)	(1,857)	(104,593)	(783)	215	(20,563)	678	(20,453)	780	2,713	(277)	6,493	9,709	(3,456)	925	549	(4,950)	(6,932)	(525)	(589)	328	(368)	(1,154)	614	(1,183)	(2,369)	(2,415)	(5,353)	(727)	(539)	534	(732)
Restructuring-related charges	-	(1,100)	(24,790)	(810)	(26,700)	(854)	(11,501)	(2,331)	(550)	(15,236)	(170)	(1,026)	(7,866)	(2,992)	(12,054)	(2,190)	(1,897)	(919)	(8,537)	(13,543)	86	(2,182)	382	73	(1,641)	309	(307)	(3,420)	(10,185)	(13,603)	(1,820)	(11,207)	(30,115)	(615)	(43,757)	334	(483)	(128)	(146)	(423)	(99)	(163)	(466)	(4,800)	(5,528)	(298)	(1,305)	(2,813)	(4,416)
Interest expense for Waltham, MA lease5	1,970	1,956	1,897	1,904	7,727	1,911	1,896	1,838	1,844	7,489	1,849	1,833	1,775	1,779	7,236	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on purchase or sale of subsidiaries7	-	-	-	-	-	48,380	-	-	(435)	47,945	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax (expense) benefit	9,814	(19,601)	17,431	(526)	7,118	6,187	(21,825)	(4,019)	79	(19,578)	(5,481)	(14,399)	(4,091)	(9,461)	(33,432)	(6,115)	93,795	(1,039)	(5,649)	80,992	(6,794)	(12,954)	(3,927)	4,772	(18,903)	(9,381)	(17,298)	(29,529)	(3,693)	(59,901)	(9,365)	(126,129)	(8,475)	(11,524)	(155,493)	(8,122)	(16,795)	(10,610)	84,889	49,362	(8,995)	(21,151)	(12,144)	(41,817)	(84,107)	(17,838)	(13,337)	(11,709)	(42,884)
(Loss) gain on early extinguishment of debt	-	-	-	-	-	-	-	-	(17,359)	(17,359)	-	-	-	-	-	-	-	-	-	-	-	-	-	(48,343)	(48,343)	-	-	-	-	-	-	-	-	6,764	6,764	1,372	349	-	(2,387)	(666)	179	(696)	19	-	(498)	-	-	-	-
Interest expense, net	(9,904)	(9,631)	(11,584)	(12,858)	(43,977)	(13,082)	(12,529)	(12,652)	(14,780)	(53,043)	(13,777)	(16,808)	(16,787)	(15,799)	(63,171)	(15,087)	(15,701)	(17,262)	(27,790)	(75,840)	(30,516)	(30,141)	(29,002)	(29,709)	(119,368)	(25,688)	(25,369)	(24,247)	(24,126)	(99,430)	(24,806)	(28,597)	(30,515)	(28,875)	(112,793)	(29,200)	(30,588)	(30,158)	(29,876)	(119,822)	(31,415)	(29,165)	(26,995)	(27,656)	(115,231)	(28,066)	(26,997)	(25,397)	(80,460)
Other income, net	(2,132)	30,549	(6,582)	(11,473)	10,362	(16,312)	(7,732)	(1,558)	4,570	(21,032)	10,252	9,629	(2,495)	9,090	26,476	15,674	(9,040)	22,537	(6,297)	22,874	(8,754)	(17,198)	9,785	(3,186)	(19,353)	13,170	12,839	12,321	23,133	61,463	27,397	(17,392)	1,377	7,116	18,498	6,419	(391)	(3,651)	(794)	1,583	(11,492)	31,678	(9,441)	(24,327)	(13,582)	3,453	1,728	2,580	7,761
Realized (gains) losses on currency derivatives included in other income, net	(1,888)	(6,839)	(4,591)	(3,156)	(16,474)	634	3,513	4,811	2,487	11,445	(1,607)	(7,446)	(4,836)	(6,400)	(20,289)	(4,838)	(10,408)	(5,001)	(4,286)	(24,533)	(1,217)	1,578	1,936	4,557	6,854	3,672	(674)	(2,011)	(5,411)	(4,424)	(6,869)	(14,901)	(4,783)	(3,171)	(29,724)	(2,050)	(945)	349	240	(2,406)	2,232	(375)	(340)	2,477	3,994	2,692	4,546	2,959	10,197
Net income (loss)	($30,030)	$35,022	($42,678)	($34,513)	($72,199)	$23,406	$30,623	($1,602)	($5,639)	$46,788	($14,994)	$69,037	$6,242	$33,195	$93,480	$19,851	$190,649	($83,500)	($43,005)	$83,995	(10,078)	33,901	(38,841)	(67,439)	(82,457)	(4,960)	56,153	(69,892)	(31,871)	(50,570)	(24,741)	(138,540)	(49,810)	27,376	(185,715)	4,569	60,254	(5,181)	118,166	177,808	(12,384)	61,615	(8,020)	(28,359)	12,852	6,520	49,490	14,643	70,653
Net income margin	(7)%	6 %	(8)%	(6)%	(2)%	4 %	4 %	(0)%	(1)%	6 %	(3)%	8 %	1 %	5 %	6 %	3 %	23 %	(14)%	(10)%	2 %	(2)%	4 %	(7)%	(11)%	5 %	(1)%	7 %	(11)%	(4)%	2 %	(4)%	(16)%	(7)%	3 %	2 %	1 %	7 %	(1)%	14 %	8 %	(2)%	7 %	(1)%	(3)%	0 %	1 %	5 %	2 %	3 %
1 Quarterly results are unaudited and when added together may not equal annual results due to rounding. 2 During Q1 FY2026, we recast our segment results back to Q1 FY2023 to reflect an update to our previously implemented methodology for inter-segment transactions, and back to Q1 FY2020 to reflect the transfer of two teams from VistaPrint to our central functions. Please see our "Guide to Reporting Changes" at ir.cimpress.com for details. 5 During Q1 FY2020, we adopted the new lease accounting standard, ASC 842. Our Waltham, MA lease, which was previously classified as build-to-suit, is now classified as an operating lease under the new standard. The Waltham depreciation and interest expense adjustments that were made in comparative periods are no longer made beginning in FY2020, as any impact from the Waltham lease is reflected in operating income. 6 Includes expense recognized for the change in fair value of contingent consideration and compensation expense related to earn-out mechanisms dependent upon continued employment. 7 Includes the impact of the gain on the sale of Albumprinter, as well as a bargain purchase gain as defined by ASC 805-30 for an acquisition in which the identifiable assets acquired and liabilities assumed are greater than the consideration transferred, that was recognized in general and administrative expense in our consolidated statement of operations during the three months ended September 30, 2017.
SEGMENT GROSS PROFIT2:
VistaPrint	$184,340	$236,782	$198,549	$195,176	$814,847	$191,005	$270,215	$217,901	$218,735	$897,856	$199,613	$258,476	$208,230	$212,569	$878,888	$202,106	$267,857	$188,025	$144,363	$802,351	$191,752	$257,827	$182,542	$201,970	$834,091	$201,826	$262,022	$193,284	$207,715	$864,847	$202,969	$233,530	$223,007	$233,832	$893,338	$223,620	$279,355	$236,408	$253,929	$993,312	$237,539	$277,209	$240,268	$263,645	$1,018,661	$252,988	$296,489	$254,872	$804,349
as % of segment revenue	63 %	60 %	60 %	59 %	61 %	63 %	60 %	60 %	59 %	60 %	58 %	58 %	58 %	59 %	58 %	59 %	62 %	59 %	59 %	60 %	58 %	60 %	57 %	58 %	58 %	58 %	58 %	55 %	56 %	57 %	55 %	53 %	56 %	57 %	55 %	56 %	58 %	57 %	57 %	57 %	55 %	56 %	56 %	57 %	56 %	56 %	56 %	55 %	56 %
PrintBrothers	18,530	20,030	19,008	21,340	78,908	21,608	25,823	23,831	27,337	98,599	25,643	28,377	24,773	29,546	108,339	26,802	33,072	24,705	16,085	100,664	24,132	31,512	23,470	24,963	104,077	33,294	35,644	31,408	37,731	138,077	33,904	39,985	36,252	42,720	152,860	41,763	51,714	43,013	51,149	187,639	45,191	50,339	44,836	53,265	193,631	52,575	63,560	57,717	173,853
as % of segment revenue	25 %	24 %	25 %	25 %	25 %	25 %	24 %	25 %	25 %	24 %	25 %	24 %	23 %	25 %	24 %	25 %	26 %	23 %	22 %	24 %	24 %	26 %	25 %	24 %	25 %	27 %	26 %	26 %	26 %	26 %	26 %	27 %	26 %	27 %	26 %	27 %	31 %	29 %	30 %	29 %	28 %	29 %	29 %	30 %	29 %	28 %	29 %	28 %	29 %
The Print Group	19,243	24,825	22,373	28,440	94,881	23,181	30,470	27,297	30,633	111,581	22,872	28,919	26,851	31,915	110,557	23,713	29,820	20,848	15,574	89,955	21,197	25,862	18,586	27,059	92,704	25,891	32,874	24,920	32,084	115,769	24,035	28,458	29,713	37,278	119,484	28,984	33,128	32,936	37,283	132,331	32,112	37,451	33,560	41,330	144,452	35,679	44,251	39,792	119,721
as % of segment revenue	33 %	36 %	34 %	37 %	35 %	33 %	36 %	34 %	37 %	35 %	32 %	33 %	34 %	36 %	34 %	33 %	34 %	30 %	33 %	33 %	32 %	34 %	31 %	37 %	34 %	36 %	36 %	33 %	35 %	35 %	32 %	32 %	35 %	40 %	35 %	36 %	36 %	38 %	39 %	37 %	38 %	38 %	37 %	39 %	38 %	37 %	38 %	37 %	38 %
National Pen	-	-	33,395	30,670	64,065	33,916	74,641	47,193	37,312	193,062	35,649	79,166	43,522	38,639	196,976	38,312	72,641	36,838	11,396	159,187	29,325	56,801	31,934	34,722	152,782	35,742	69,077	38,271	38,962	182,052	44,423	64,704	41,379	41,560	192,067	44,759	71,446	47,478	43,393	207,076	49,937	70,456	43,902	43,604	207,898	49,846	74,801	48,421	173,068
as % of segment revenue	- %	- %	57 %	57 %	57 %	- %	- %	57 %	57 %	58 %	54 %	60 %	55 %	55 %	57 %	55 %	57 %	54 %	35 %	53 %	43 %	50 %	51 %	50 %	49 %	52 %	55 %	53 %	52 %	53 %	54 %	54 %	51 %	50 %	52 %	52 %	55 %	54 %	52 %	53 %	53 %	54 %	50 %	47 %	51 %	48 %	50 %	50 %	49 %
All Other Businesses	8,607	18,897	8,767	9,609	45,880	9,807	946	737	751	12,241	2,830	19,009	15,731	17,421	54,991	17,372	23,043	17,844	22,174	80,433	21,555	28,199	22,070	23,870	95,694	22,292	26,392	22,229	24,714	95,627	23,576	27,162	20,358	24,341	95,436	23,874	27,090	21,401	25,054	97,418	25,946	24,657	20,950	25,350	96,903	27,557	27,517	24,522	79,596
as % of segment revenue	46 %	55 %	44 %	47 %	49 %	46 %	55 %	44 %	47 %	30 %	37 %	39 %	41 %	41 %	40 %	41 %	46 %	45 %	52 %	46 %	50 %	51 %	50 %	49 %	50 %	47 %	46 %	46 %	48 %	46 %	45 %	45 %	42 %	46 %	45 %	46 %	45 %	43 %	46 %	45 %	45 %	41 %	41 %	43 %	43 %	45 %	41 %	41 %	42 %
Corporate & Eliminations	(56)	($50)	$11	($53)	(148)	14	($327)	($100)	($183)	(596)	(97)	$124	$7	($53)	(19)	(13)	($118)	$100	($76)	(107)	(305)	($36)	($1,772)	($1,164)	(3,277)	(435)	($230)	($153)	($727)	(1,545)	(3,227)	($4,030)	($3,453)	($3,474)	(14,184)	(4,489)	(4,793)	(5,317)	(6,385)	(20,983)	(8,492)	(10,208)	(11,008)	(14,394)	(44,101)	(15,845)	($18,900)	(16,127)	(50,872)
Total	$230,664	$300,484	$282,103	$285,182	$1,098,433	$279,531	$401,768	$316,859	$314,585	$1,312,743	$286,510	$414,071	$319,114	$330,037	$1,349,732	$308,292	$426,315	$288,360	$209,516	$1,232,483	$287,656	$400,165	$276,830	$311,420	$1,276,071	$318,610	$425,779	$309,959	$340,479	$1,394,827	$325,680	$389,808	$347,256	$376,256	$1,439,001	$358,511	$457,940	$375,919	$404,423	$1,596,793	$382,233	$449,903	$372,508	$412,800	$1,617,444	$402,801	$487,717	$409,197	$1,299,715
SEGMENT ADVERTISING SPEND:
VistaPrint																															$68,109	$76,604	$57,381	$60,401	$22,559	$57,918	$79,849	$62,815	$70,543	$271,125	$65,128	$86,271	$63,908	$62,947	$278,254	$66,504	$93,546	$66,451	$226,501
as % of segment revenue																															18 %	17 %	14 %	15 %	16 %	15 %	16 %	15 %	16 %	16 %	15 %	17 %	15 %	13 %	15 %	15 %	18 %	14 %	16 %
PrintBrothers																															3,337	4,080	3,871	4,006	2,010	3,995	5,072	4,778	4,914	18,759	5,371	6,657	6,246	7,223	25,497	6,009	7,523	6,619	20,151
as % of segment revenue																															3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	4 %	4 %	4 %	0 %	3 %	3 %	3 %	3 %
The Print Group																															4,731	6,608	6,918	7,486	2,997	6,064	7,375	6,788	7,589	27,816	5,618	7,477	6,933	8,145	28,173	6,100	8,822	7,840	22,762
as % of segment revenue																															6 %	7 %	8 %	8 %	8 %	8 %	8 %	8 %	8 %	8 %	7 %	8 %	8 %	8 %	7 %	6 %	8 %	7 %	7 %
National Pen																															24,533	16,940	21,246	13,807	2,913	30,097	18,735	18,536	10,844	78,212	27,681	19,552	17,600	10,179	75,012	26,596	21,869	15,990	64,455
as % of segment revenue																															30 %	14 %	26 %	17 %	21 %	35 %	14 %	21 %	13 %	20 %	30 %	15 %	20 %	11 %	18 %	26 %	14 %	16 %	18 %
All Other Businesses																															8,054	11,994	8,092	9,689	4,299	9,651	11,868	9,005	10,057	40,581	10,234	11,197	8,400	9,573	39,404	10,574	12,217	9,498	32,289
as % of segment revenue																															16 %	20 %	17 %	18 %	18 %	19 %	20 %	18 %	18 %	19 %	18 %	19 %	16 %	16 %	17 %	17 %	18 %	16 %	17 %
TOTAL SEGMENT ADVERTISING SPEND:																															$108,764	$116,226	$97,508	$95,389	$34,778	$107,725	$122,899	$101,922	$103,947	$436,493	$114,032	$131,154	$103,087	$98,067	$446,340	$115,783	$143,977	$106,398	$366,158
3 SHARE-BASED COMPENSATION INCLUDED IN SEGMENT EBITDA:
VistaPrint	$2,857	$2,609	$2,183	$1,862	$9,511	$2,114	$1,893	$1,730	$1,646	$7,383	$1,892	$1,807	$1,370	$1,083	$6,152	$836	$1,264	$1,131	$3,869	$7,100	$2,364	$1,215	$2,775	$3,811	$10,165	$4,241	$4,625	$4,904	$5,178	$18,948	$5,546	$6,246	$4,615	$5,179	$21,586	$6,270	$6,852	$6,814	$6,634	$26,570	$6,770	$7,541	$7,116	$6,634	$28,061	$7,127	$6,923	$6,976	$21,026
PrintBrothers	60	59	72	62	253	84	79	92	82	337	96	102	97	88	383	84	81	74	313	552	112	59	73	80	324	64	64	65	65	258	48	47	51	48	194	46	197	279	277	799	212	154	170	170	706	175	174	173	522
The Print Group	165	333	126	128	752	157	155	371	(74)	609	160	168	125	116	569	87	75	71	162	395	159	33	196	(9)	379	61	60	58	58	237	47	45	45	46	183	19	19	19	19	76	71	104	103	101	379	157	188	188	533
National Pen	N/A	N/A	49	98	147	139	139	139	126	543	206	206	206	206	824	221	221	224	489	1,155	359	224	184	164	931	104	99	99	99	401	42	42	42	84	210	70	67	67	67	271	76	144	119	123	462	141	149	15	305
All Other Businesses	88	81	74	70	313	50	38	9	23	120	1	67	100	333	501	94	94	94	341	623	209	94	109	116	528	113	113	113	113	452	113	31	31	31	206	19	19	26	32	96	111	80	110	114	415	165	198	197	560
Central and Corporate Costs	4,297	7,594	3,661	6,203	21,755	4,225	9,497	10,433	9,200	33,355	6,562	(7,962)	2,606	5,768	6,974	3,428	6,591	7,315	6,095	23,429	5,080	3,618	6,208	9,801	24,707	6,424	7,545	7,465	8,039	29,473	4,679	5,135	2,458	5,030	17,302	6,029	10,495	11,192	10,056	37,772	8,393	6,350	5,066	9,047	28,856	7,028	9,199	7,081	23,308
Total share-based compensation included in Segment EBITDA8	$7,467	$10,676	$6,165	$8,423	$32,731	$6,769	$11,801	$12,774	$11,003	$42,347	$8,917	($5,612)	$4,504	$7,594	$15,403	$4,750	$8,325	$8,908	$11,269	$33,252	$8,283	$5,243	$9,545	$13,963	$37,034	$11,006	$12,505	$12,703	$13,552	$49,766	$10,475	$11,547	$7,242	$10,418	$39,682	$12,453	$17,649	$18,397	$17,085	$65,584	$15,633	$14,373	$12,684	$16,189	$58,879	$14,793	$16,831	$14,630	$46,254
8 SBC included in segment EBITDA may not sum to total SBC because segment EBITDA excludes restructuring expense, and is therefore excluded from this view as well. Additionally, the accounting value of the Supplemental PSUs (SPSUs) expense or benefit, if any, are included in Central and Corporate Costs.
4 CENTRAL AND CORPORATE COSTS DETAIL:
Corporate costs	$11,779	$13,282	$10,125	$10,008	$45,194	$9,587	$9,381	$9,675	$10,218	$38,861	$10,858	$8,919	$9,807	$8,966	$38,550	$11,982	$12,932	$12,285	$9,042	$46,241	$8,892	$9,973	$10,104	$12,629	$41,598	$11,950	$11,142	$11,912	$12,771	$47,775	$13,064	$12,760	$16,000	$12,182	$54,006	$12,267	$12,116	$12,565	$12,685	$49,633	$13,879	$15,421	$12,580	$12,441	$54,322	$13,672	$15,027	$12,754	$41,453
Central operating costs	8,076	6,928	8,493	8,813	32,310	13,249	13,266	13,788	13,673	53,976	14,599	15,233	15,601	14,967	60,400	17,079	16,699	16,799	14,353	64,930	15,786	13,771	15,315	17,460	62,332	17,743	17,713	18,188	19,339	72,982	18,593	18,750	18,321	18,585	74,249	18,518	18,795	21,034	20,649	78,996	20,024	21,178	22,747	21,621	85,571	19,802	22,785	19,071	61,658
MCP investment	4,488	3,825	5,121	4,958	18,392	4,872	4,900	5,153	5,078	20,003	5,309	5,657	5,743	5,407	22,116	5,742	5,956	5,860	6,043	23,601	5,883	6,475	7,385	5,363	25,106	5,363	5,906	6,299	6,631	24,199	5,783	5,921	6,010	2,899	20,613	3,029	2,853	3,196	3,092	12,170	3,122	3,054	2,970	4,242	13,388	4,950	4,670	4,745	14,365
Unallocated SBC	1,457	5,305	2,011	4,573	13,346	2,072	7,486	8,600	7,040	25,198	4,068	(11,138)	150	3,149	(3,771)	(499)	2,774	3,698	954	6,927	1,150	494	1,302	3,672	6,618	1,131	1,901	1,820	1,991	6,843	(957)	(1,767)	(3,937)	(1,207)	(7,868)	(348)	3,883	4,523	3,436	11,494	1,834	(670)	(1,657)	2,509	2,016	211	1,990	(35)	2,166
Total central and corporate costs	$25,800	$29,340	$25,750	$28,352	$109,242	$29,780	$35,033	$37,216	$36,009	$138,038	$34,834	$18,671	$31,301	$32,489	$117,295	$34,304	$38,362	$38,643	$30,392	$141,699	$31,711	$30,713	$34,106	$39,124	$135,654	$36,187	$36,662	$38,219	$40,732	$151,799	$36,483	$35,665	$36,394	$32,459	$141,001	$33,466	$37,647	$41,317	$39,862	$152,292	$38,859	$38,983	$36,641	$40,813	$155,296	$38,635	$44,472	$36,535	$119,642
DEPRECIATION AND AMORTIZATION9:
VistaPrint	$15,855	$17,217	$19,164	$17,479	$69,715	$18,232	$17,126	$17,704	$17,436	$70,498	$17,024	$16,977	$16,885	$16,431	$67,317	$15,640	$15,042	$14,609	$13,738	$59,029	$13,587	$14,952	$14,881	$15,093	$58,513	$16,403	$17,563	$15,791	$15,732	$65,489	$14,670	$14,193	$14,480	$15,121	$58,464	$14,875	$13,176	$13,040	$13,091	$54,182	$13,055	$13,096	$13,013	$14,030	$53,194	$14,297	$13,811	$14,394	$42,502
as % of segment revenue	5 %	4 %	6 %	5 %	5 %	6 %	4 %	5 %	5 %	5 %	5 %	4 %	5 %	5 %	5 %	5 %	3 %	5 %	6 %	4 %	4 %	3 %	5 %	4 %	4 %	5 %	4 %	5 %	4 %	4 %	4 %	3 %	4 %	4 %	4 %	4 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %	3 %
PrintBrothers	5,688	5,451	5,505	5,515	22,159	6,014	6,230	6,675	6,086	25,005	6,413	5,663	5,364	4,668	22,108	5,255	5,553	5,064	5,138	21,010	5,462	5,509	5,493	5,625	22,089	5,234	5,106	5,466	4,984	20,790	4,773	5,149	4,175	4,038	18,135	3,889	4,024	3,789	3,462	15,164	3,475	3,391	3,107	3,255	13,228	3,571	4,568	4,553	12,692
as % of segment revenue	8 %	7 %	7 %	6 %	7 %	7 %	6 %	6 %	6 %	6 %	6 %	5 %	5 %	4 %	5 %	5 %	4 %	5 %	7 %	5 %	5 %	5 %	6 %	5 %	5 %	4 %	4 %	5 %	3 %	4 %	4 %	3 %	3 %	3 %	3 %	3 %	2 %	3 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %
The Print Group	8,777	8,116	8,646	8,375	33,914	8,706	8,775	9,026	8,087	34,594	7,731	7,687	7,338	6,681	29,437	6,233	6,609	6,083	5,844	24,769	6,581	6,641	6,630	7,214	27,066	6,584	6,612	6,459	6,002	25,657	5,862	5,799	5,269	5,880	22,810	5,822	6,000	6,184	5,400	23,406	5,211	4,889	4,600	5,551	20,251	5,541	5,833	5,952	17,326
as % of segment revenue	15 %	12 %	13 %	11 %	13 %	13 %	10 %	11 %	9 %	11 %	11 %	9 %	9 %	8 %	9 %	9 %	8 %	9 %	13 %	9 %	10 %	9 %	11 %	10 %	10 %	9 %	7 %	9 %	7 %	7 %	8 %	7 %	6 %	6 %	7 %	7 %	7 %	7 %	6 %	7 %	6 %	5 %	5 %	5 %	5 %	6 %	5 %	6 %	5 %
National Pen	N/A	N/A	5,277	4,991	10,268	5,095	5,275	5,372	5,804	21,546	5,124	5,319	5,371	5,828	21,642	5,581	5,523	6,294	6,256	23,654	6,067	6,255	6,304	6,497	25,123	5,908	6,220	5,933	6,200	24,261	5,891	5,795	4,820	4,860	21,366	5,188	4,992	3,228	3,152	16,560	3,246	3,188	3,113	3,115	12,662	3,026	3,113	3,086	9,225
as % of segment revenue	N/A	N/A	9 %	9 %	9 %	9 %	4 %	7 %	9 %	6 %	8 %	4 %	7 %	8 %	6 %	8 %	4 %	9 %	19 %	8 %	9 %	5 %	10 %	9 %	8 %	9 %	5 %	8 %	8 %	7 %	7 %	5 %	6 %	6 %	6 %	6 %	4 %	4 %	4 %	4 %	3 %	2 %	4 %	3 %	3 %	3 %	2 %	3 %	3 %
All Other Businesses	2,520	2,641	1,419	2,702	9,282	807	649	1,137	1,336	3,929	583	5,259	5,905	5,321	17,068	5,973	5,888	6,049	5,845	23,755	5,868	4,391	4,524	5,028	19,811	5,042	4,381	4,519	4,594	18,536	4,516	4,326	4,375	4,477	17,694	4,547	4,509	4,604	4,716	18,376	4,647	4,743	4,936	4,337	18,663	4,398	3,635	3,805	11,838
as % of segment revenue	13 %	8 %	7 %	13 %	10 %	4 %	9 %	16 %	19 %	10 %	8 %	11 %	16 %	13 %	13 %	14 %	12 %	15 %	14 %	14 %	13 %	8 %	10 %	10 %	10 %	11 %	8 %	9 %	9 %	9 %	9 %	7 %	9 %	9 %	8 %	9 %	7 %	9 %	9 %	9 %	8 %	8 %	10 %	7 %	8 %	7 %	5 %	6 %	6 %
Central and Corporate Costs	2,565	3,552	3,392	3,554	13,063	3,530	3,244	3,523	3,136	13,433	3,843	3,597	3,471	5,288	16,199	3,853	3,741	3,741	4,391	15,726	4,725	5,849	4,977	5,059	20,610	5,261	5,432	5,483	4,772	20,948	5,230	5,612	6,632	6,485	23,959	5,621	6,388	6,227	5,840	24,076	5,912	5,904	5,531	5,786	23,133	5,785	5,658	5,616	17,059
as % of segment revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total depreciation and amortization	$35,405	$36,977	$43,403	$42,616	$158,401	$42,384	$41,299	$43,437	$41,885	$169,005	$40,718	$44,502	$44,334	$44,217	$173,771	$42,535	$42,356	$41,840	$41,212	$167,943	$42,290	$43,597	$42,809	$44,516	$173,212	$44,432	$45,314	$43,651	$42,284	$175,681	$40,942	$40,874	$39,751	$40,861	$162,428	$39,942	$39,089	$37,072	$35,661	$151,764	$35,546	$35,211	$34,300	$36,074	$141,131	$36,618	$36,618	$37,406	$110,642
9 ACQUISITION-RELATED AMORTIZATION AND DEPRECIATION INCLUDED IN TOTAL DEPRECIATION AND AMORTIZATION ABOVE:
VistaPrint	$152	$148	$148	$151	$599	$154	$150	$157	$151	$612	$151	$149	$-	$-	$300	$-	$-	$-	$-	$-	$-	$1,499	$1,499	$1,499	$4,497	$1,499	$2,760	$2,758	$3,255	$10,272	$2,479	$2,479	$2,991	$2,588	$10,537	$1,826	$1,187	$1,186	$1,188	$5,387	$1,183	$1,189	$1,052	$968	$4,392	$963	$240	$239	$1,442
PrintBrothers	4,421	4,278	4,222	4,100	17,021	4,381	4,415	4,596	4,358	17,750	4,224	4,147	3,639	3,346	15,356	3,317	3,334	3,315	3,309	13,275	3,496	3,567	3,608	3,464	14,135	3,368	3,267	3,611	3,144	13,390	2,985	3,020	2,122	2,149	10,276	1,934	1,912	1,657	1,319	6,822	1,306	1,269	818	653	4,046	671	793	797	2,261
The Print Group	5,066	5,031	5,033	4,287	19,417	4,558	4,471	4,669	3,733	17,431	3,431	3,342	3,172	2,461	12,406	2,491	2,610	2,147	2,389	9,637	2,531	2,536	2,548	2,592	10,207	2,517	2,443	2,401	1,714	9,075	1,536	1,511	1,588	1,629	6,264	1,613	1,595	1,590	464	5,262	298	290	285	278	1,151	249	231	233	713
National Pen	N/A	N/A	3,549	3,562	7,111	3,574	3,554	3,587	3,555	14,270	3,556	3,547	3,546	3,547	14,196	3,556	3,552	3,565	3,574	14,247	3,612	3,619	3,619	3,612	14,462	3,606	3,602	3,601	3,565	14,374	3,564	3,566	2,751	2,750	12,631	2,750	2,750	750	750	7,000	750	750	750	750	3,000	750	750	750	2,250
All Other Businesses	574	562	556	562	2,254	20	22	22	22	86	7	3,729	3,733	3,800	11,269	3,720	3,719	3,719	3,719	14,877	3,719	2,232	2,232	2,387	10,570	2,468	1,810	1,810	1,808	7,896	1,787	1,787	1,787	1,787	7,148	1,763	1,737	1,736	1,736	6,972	1,618	1,618	1,618	1,618	6,472	1,618	868	868	3,354
Total acquisition-related amortization and depreciation included in total depreciation and amortization above	$10,213	$10,019	$13,508	$12,662	$46,402	$12,687	$12,612	$13,031	$11,819	$50,149	$11,369	$14,914	$14,090	$13,154	$53,527	$13,084	$13,215	$12,746	$12,991	$52,036	$13,358	$13,453	$13,506	$13,554	$53,871	$13,458	$13,882	$14,181	$13,486	$55,007	$12,350	$12,362	$11,239	$10,903	$46,854	$9,886	$9,181	$6,919	$5,457	$31,443	$5,155	$5,116	$4,523	$4,267	$19,061	$4,251	$2,882	$2,887	$10,020
PURCHASES OF PROPERTY, PLANT AND EQUIPMENT:
VistaPrint	$11,599	$8,707	$12,366	$7,872	$40,544	$13,946	$10,932	$4,944	$6,187	$36,009	$12,056	$9,378	$4,718	$6,668	$32,820	$4,505	$6,192	$134	$5,155	$15,986	$1,934	$2,515	$2,411	$5,472	$12,332	$2,478	$7,881	$4,132	$2,707	$17,198	$3,124	$6,445	$3,006	$5,029	$17,604	$3,611	$5,859	$6,488	$3,759	$19,717	$7,526	$9,768	$11,595	$10,957	$39,846	$10,616	$12,959	$18,712	$42,287
as % of segment revenue	4 %	2 %	4 %	2 %	3 %	4 %	2 %	1 %	2 %	2 %	3 %	2 %	1 %	2 %	2 %	1 %	1 %	- %	2 %	1 %	1 %	1 %	1 %	2 %	1 %	1 %	2 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	2 %	1 %	1 %	2 %	2 %	3 %	2 %	2 %	2 %	2 %	4 %	3 %
PrintBrothers	542	847	411	1,512	3,312	1,149	2,870	1,411	1,039	6,469	1,729	647	395	750	3,521	331	668	2,397	919	4,315	925	213	286	2,185	3,609	1,512	1,204	665	407	3,788	708	1,053	2,010	651	4,422	5,152	90	(132)	930	6,040	1,367	1,740	4,416	1,535	9,058	2,404	(796)	1,262	2,870
as % of segment revenue	1 %	1 %	1 %	2 %	1 %	1 %	3 %	1 %	1 %	2 %	2 %	1 %	0 %	1 %	1 %	- %	1 %	2 %	1 %	1 %	1 %	- %	- %	2 %	1 %	1 %	1 %	1 %	- %	1 %	1 %	1 %	1 %	- %	1 %	3 %	- %	- %	1 %	1 %	1 %	1 %	3 %	1 %	1 %	1 %	- %	1 %	0 %
The Print Group	4,258	2,337	2,483	2,485	11,563	2,108	2,863	868	3,927	9,766	1,996	2,787	557	2,568	7,908	4,105	4,889	4,949	3,193	17,136	2,887	3,043	980	4,937	11,847	1,428	5,249	7,560	5,640	19,877	4,819	5,270	3,995	5,599	19,683	8,496	2,547	1,933	2,102	15,078	3,767	8,546	6,559	6,211	25,083	9,090	1,855	8,353	19,298
as % of segment revenue	7 %	3 %	4 %	3 %	4 %	3 %	3 %	1 %	5 %	3 %	3 %	3 %	1 %	3 %	2 %	6 %	6 %	7 %	7 %	7 %	4 %	4 %	2 %	7 %	4 %	2 %	6 %	10 %	6 %	6 %	6 %	6 %	5 %	6 %	6 %	11 %	3 %	2 %	2 %	4 %	4 %	9 %	7 %	6 %	7 %	9 %	2 %	8 %	6 %
National Pen	N/A	N/A	1,013	2,701	3,714	2,490	1,219	1,183	1,673	6,565	4,727	2,308	745	566	8,346	2,016	761	728	1,511	5,016	1,452	1,372	679	100	3,603	1,188	1,023	644	1,477	4,332	1,601	846	889	2,667	6,003	2,669	1,486	313	269	4,737	1,363	1,113	890	332	3,698	2,471	1,359	1,160	4,990
as % of segment revenue	N/A	N/A	2 %	5 %	3 %	4 %	1 %	1 %	3 %	2 %	7 %	2 %	1 %	1 %	2 %	3 %	1 %	1 %	5 %	2 %	2 %	1 %	1 %	- %	1 %	2 %	1 %	1 %	2 %	1 %	2 %	1 %	1 %	3 %	2 %	3 %	1 %	- %	- %	1 %	1 %	1 %	1 %	- %	1 %	2 %	1 %	1 %	1 %
All Other Businesses	2,249	3,502	3,814	1,060	10,625	389	211	151	196	947	285	2,362	12,138	2,211	16,996	1,775	595	1,523	349	4,242	954	1,014	744	2,754	5,466	1,515	2,157	2,130	1,225	7,027	1,068	767	815	2,143	4,793	2,235	1,181	1,455	2,861	7,732	2,511	4,541	848	1,504	9,404	1,564	1,769	1,300	4,633
as % of segment revenue	12 %	10 %	19 %	5 %	10 %	2 %	3 %	2 %	3 %	2 %	4 %	5 %	32 %	5 %	8 %	4 %	1 %	4 %	1 %	2 %	2 %	2 %	2 %	6 %	3 %	3 %	4 %	4 %	2 %	3 %	2 %	1 %	2 %	4 %	2 %	4 %	2 %	3 %	5 %	4 %	4 %	8 %	2 %	3 %	4 %	3 %	3 %	2 %	2 %
Central and Corporate Costs	671	1,548	569	1,608	4,396	375	122	210	467	1,174	233	259	614	(134)	972	1,461	796	813	702	3,772	231	250	846	340	1,667	503	401	472	442	1,818	438	351	281	197	1,267	402	227	413	581	1,623	467	710	484	274	1,935	208	8,034	(7,787)	455
as % of segment revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total purchases of property, plant and equipment	$19,319	$16,941	$20,656	$17,238	$74,154	$20,457	$18,217	$8,767	$13,489	$60,930	$21,026	$17,741	$19,167	$12,629	$70,563	$14,193	$13,901	$10,544	$11,829	$50,467	$8,383	$8,407	$5,946	$15,788	$38,524	$8,624	$17,915	$15,603	$11,898	$54,040	$11,758	$14,732	$10,996	$16,286	$53,772	$22,565	$11,390	$10,470	$10,502	$54,927	$17,001	$26,418	$24,792	$20,813	$89,024	$26,353	$25,180	$23,000	$74,533
CAPITALIZATION OF SOFTWARE AND WEBSITE DEVELOPMENT COSTS:
VistaPrint	$4,216	$5,985	$7,313	$4,399	$21,913	$5,504	$5,036	$6,763	$6,154	$23,457	$6,264	$5,214	$6,084	$5,807	$23,369	$5,422	$4,357	$5,895	$2,707	$18,381	$6,987	$4,429	$10,414	$6,467	$28,297	$7,572	$8,618	$8,235	$6,569	$30,994	$6,635	$5,139	$5,894	$4,891	$22,559	$6,640	$6,050	$6,231	$6,114	$25,035	$6,057	$6,544	$6,838	$7,133	$26,572	$6,563	$6,036	$6,919	$19,518
as % of segment revenue	1 %	2 %	2 %	2 %	2 %	2 %	1 %	2 %	2 %	2 %	2 %	1 %	2 %	2 %	2 %	2 %	1 %	2 %	1 %	1 %	2 %	1 %	3 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	1 %	1 %	1 %	1 %	2 %	1 %	1 %	1 %	1 %	1 %	1 %	2 %	2 %	1 %	1 %	1 %	2 %	1 %
PrintBrothers	263	370	387	1,638	2,658	393	435	532	476	1,836	287	517	437	546	1,787	331	291	90	278	990	406	185	379	495	1,465	232	236	361	310	1,139	389	1,069	104	448	2,010	457	456	521	758	2,192	602	991	852	639	3,084	1,294	884	775	2,953
as % of segment revenue	- %	- %	1 %	2 %	- %	- %	- %	1 %	- %	- %	- %	1 %	1 %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	- %	0 %	- %	- %	- %	- %	0 %	- %	1 %	- %	- %	0 %	- %	- %	- %	- %	0 %	- %	1 %	1 %	- %	0 %	1 %	- %	- %	0 %
The Print Group	181	299	127	908	1,515	381	581	617	595	2,174	495	703	525	604	2,327	451	424	374	235	1,484	230	433	398	542	1,603	426	519	790	684	2,419	490	771	866	870	2,997	694	1,056	891	1,040	3,681	949	1,506	1,198	1,365	5,018	1,245	1,330	1,396	3,971
as % of segment revenue	- %	- %	- %	1 %	- %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	- %	1 %	1 %	1 %	- %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	2 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %
National Pen	N/A	N/A	-	-	-	-	367	302	813	1,482	900	576	1,035	1,113	3,624	836	979	775	700	3,290	714	355	604	1,442	3,115	678	1,053	877	782	3,390	588	512	778	1,035	2,913	805	1,171	1,111	932	4,019	1,100	1,147	1,118	1,071	4,436	1,035	981	968	2,984
as % of segment revenue	N/A	N/A	- %	- %	- %	- %	- %	- %	1 %	- %	1 %	- %	1 %	2 %	1 %	1 %	1 %	1 %	2 %	1 %	1 %	- %	1 %	2 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	- %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %
All Other Businesses	186	180	179	216	761	230	64	59	92	445	90	871	1,098	889	2,948	963	1,116	890	715	3,684	1,061	681	897	1,107	3,746	1,184	1,083	981	849	4,097	924	899	1,008	1,468	4,299	1,187	1,110	1,582	1,537	5,416	1,499	1,757	1,354	1,249	5,859	1,312	1,375	1,231	3,918
as % of segment revenue	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	1 %	2 %	3 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	1 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	2 %	1 %	2 %	3 %	2 %	2 %	2 %	3 %	3 %	3 %	3 %	3 %	3 %	2 %	3 %	2 %	2 %	2 %	2 %
Central and Corporate Costs	3,466	3,964	1,562	1,468	10,460	2,426	2,697	3,089	3,241	11,453	3,197	2,807	3,537	5,056	14,597	4,468	3,779	4,383	3,533	16,163	5,406	5,558	6,184	5,563	22,711	5,547	4,986	6,497	6,228	23,258	6,304	5,526	6,285	4,894	23,009	4,614	4,104	4,699	4,547	17,964	4,364	4,732	4,983	5,045	19,124	5,837	5,418	5,507	16,762
as % of segment revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total capitalization of software and website development costs	$8,312	$10,798	$9,568	$8,629	$37,307	$8,934	$9,180	$11,362	$11,371	$40,847	$11,233	$10,688	$12,716	$14,015	$48,652	$12,471	$10,946	$12,407	$8,168	$43,992	$14,804	$11,641	$18,876	$15,616	$60,937	$15,639	$16,495	$17,741	$15,422	$65,297	$15,330	$13,916	$14,935	$13,606	$57,787	$14,397	$13,947	$15,035	$14,928	$58,307	$14,571	$16,677	$16,343	$16,502	$64,093	$17,286	$16,024	$16,796	$50,106

Cash Flow Statement

Cash Flow Statement1 In $ thousands
	FY 2004	FY 2005	FY 2006	FY 2007	FY 2008	FY 2009	FY 2010	FY 2011	FY 2012	FY 2013	FY 2014	FY 2015	Q1 16	Q2 16	Q3 16	Q4 16	FY 2016	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	(Sep 15)	(Dec 15)	(Mar 16)	(Jun 16)	Total	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
CONSOLIDATED STATEMENTS OF CASH FLOWS:
Operating activities
Net income (loss)	$3,440	($16,219)	$19,235	$27,143	$39,831	$55,686	$67,741	$82,109	$43,994	$29,435	$43,316	$89,312	$10,022	$58,991	($35,771)	$17,169	$50,411	($30,030)	$35,022	($42,678)	($34,513)	($72,199)	$23,406	$30,623	($1,602)	($5,639)	$46,788	($14,994)	$69,037	$6,242	$33,195	$93,480	$19,851	$190,649	($83,500)	($43,005)	$83,995	($10,078)	$33,901	($38,841)	($67,439)	($82,457)	($4,960)	$56,153	($69,892)	($31,871)	($50,570)	($24,741)	($138,540)	($49,810)	$27,376	($185,715)	$4,569	$60,254	($5,181)	$118,166	$177,808	($12,384)	$61,615	($8,020)	($28,359)	$12,852	$6,520	$49,490	$14,643	$70,653
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	4,209	5,902	7,786	14,874	25,193	35,713	44,367	50,627	59,427	64,325	72,282	97,500	30,258	31,805	34,454	35,401	131,918	35,405	36,977	43,402	42,616	158,400	42,384	41,299	43,437	41,885	169,005	40,718	44,502	44,334	44,217	173,771	42,535	42,356	41,840	41,212	167,943	42,290	43,597	42,809	44,516	173,212	44,432	45,314	43,651	42,284	175,681	40,942	40,874	39,751	40,861	162,428	39,942	39,089	37,072	35,661	151,764	35,546	35,211	34,300	36,074	141,131	36,618	36,618	37,406	110,642
Impairment of goodwill and acquired intangible assets	-	-	-	-	-	-	920	-	-	-	-	-	-	-	30,841	-	30,841	-	-	9,556	-	9,556	-	-	-	-	-	-	-	-	7,503	7,503	-	-	100,842	-	100,842	-	-	-	-	-	-	-	-	-	-	-	-	-	5,609	5,609	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premiums and discounts on short-term investments	-	-	-	-	-	-	127	163	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense	-	-	4,850	8,765	14,747	19,473	22,380	21,677	25,413	32,928	27,786	24,075	6,190	6,066	5,897	5,619	23,772	11,571	11,277	12,797	12,982	48,627	6,912	13,314	13,492	16,748	50,466	8,916	(2,720)	7,754	7,766	21,716	5,414	8,433	8,892	12,135	34,874	8,283	5,243	9,545	13,963	37,034	11,006	12,505	12,704	13,551	49,766	10,631	12,040	8,734	10,717	42,122	12,453	17,649	18,397	17,085	65,584	15,633	14,373	12,684	16,189	58,879	14,793	16,831	14,630	46,254
Impairment of long-lived assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,882	-	19,882	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes	(527)	(420)	218	1,290	(2,029)	(4,538)	179	1,614	(1,810)	(8,626)	(12,807)	(14,940)	(2,649)	(5,690)	(2,842)	(4,741)	(15,922)	(18,163)	655	(20,341)	(3,509)	(41,358)	(16,589)	9,720	(2,683)	(4,487)	(14,039)	(3,963)	12,207	769	(2,175)	6,838	(960)	(104,615)	(4,415)	3,126	(106,864)	(32)	2,713	(168)	(12,797)	(10,284)	(1,138)	5,115	22,659	(3,757)	22,879	(1,024)	117,951	(943)	(1,072)	114,912	(1,118)	(997)	3,185	(95,512)	(94,442)	2,951	422	2,405	36,193	41,971	2,772	798	(14)	3,556
Loss on sale of equity method investment	-	-	-	-	-	-	-	-	-	-	12,681	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss in equity interests	-	-	-	-	-	-	-	-	-	1,910	2,704	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash gain on equipment	-	-	-	-	-	-	-	-	-	(1,414)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for (recovery of) doubtful accounts	(162)	9	(7)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Abandonment of long-lived assets	-	-	-	1,350	133	1,892	535	486	-	1,529	7	-	-	3,022	6,741	1,216	10,979	-	-	1,730	678	2,408	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of subsidiaries	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(47,545)	-	-	-	(47,545)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on early extinguishment of debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,359	17,359	-	-	-	-	-	-	-	-	-	-	-	-	-	48,343	48,343	-	-	-	-	-	-	-	-	(6,764)	(6,764)	(1,372)	(349)	-	2,236	515	(260)	383	-	-	123	-	-	-	-
Change in contingent earn-out liability	-	-	-	-	-	-	-	-	-	(588)	2,192	14,890	-	-	-	-	-	16,020	6,746	4,598	12,013	39,377	827	947	-	-	1,774	-	-	-	-	-	-	-	-	(54)	(54)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of available-for-sale securities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(2,268)	-	-	(2,268)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss (gain) on derivatives not designated as hedging instruments included in net income (loss)	-	-	-	-	-	-	-	-	-	-	425	(1,868)	(2,052)	134	2,897	(9,142)	(8,163)	1,811	(6,384)	5,412	14,974	15,813	6,066	(1,525)	4,705	(24,786)	(15,540)	(5,766)	(3,815)	3,649	574	(5,358)	(14,527)	22,075	(12,152)	12,335	7,731	14,628	17,917	(14,265)	(957)	17,323	(16,534)	(6,486)	(2,619)	(14,769)	(40,408)	(14,024)	39,921	6,615	1,881	34,393	(6,261)	11,129	(9,420)	(440)	(4,992)	18,337	(30,650)	19,074	30,973	37,734	(6,143)	(5,974)	(16,932)	(29,049)
Payments of contingent consideration in excess of acquisition date fair value	-	-	-	-	-	-	-	-	-	-	-	(8,055)	-	-	-	(8,613)	(8,613)	-	-	-	-	-	-	-	(4,639)	-	(4,639)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rate changes on monetary assets and liabilities denominated in non-functional currency	-	-	-	-	-	-	-	-	-	29	748	(6,455)	(7,793)	(3,036)	7,657	(6,027)	(9,199)	3,027	(16,273)	6,031	1,525	(5,690)	8,386	4,889	(8,064)	14,249	19,460	(2,856)	193	3,939	(5,640)	(4,364)	5,028	(3,669)	(2,386)	225	(802)	(4,958)	1,826	5,669	(2,297)	240	174	(6,476)	455	6,384	537	(749)	(4,233)	(1,990)	(5,016)	(11,988)	1,885	(12,548)	11,041	(262)	116	(10,370)	922	(4,272)	(11,384)	(25,104)	(1,533)	1,952	6,890	7,309
Other non-cash items	-	-	-	-	-	-	-	71	361	1,329	1,328	4,130	887	643	1,265	2,989	5,784	670	1,049	674	493	2,886	23	794	1,312	2,539	4,668	745	1,675	2,322	4,467	9,209	1,365	1,680	1,891	6,347	11,283	3,192	1,637	(2,680)	4,892	7,041	(471)	(1,228)	(6,505)	(5,500)	(13,704)	2,158	9,750	3,292	(1,965)	13,235	(1,229)	459	1,313	1,072	1,615	1,328	2,042	3,917	3,558	10,845	2,092	1,667	1,606	5,365
Gain on proceeds from insurance	-	-	-	-	-	-	-	-	-	-	-	-	(1,587)	(1,549)	-	-	(3,136)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable	(233)	(457)	(266)	(3,124)	(1,257)	276	(3,727)	(3,454)	(1,405)	(1,532)	4,008	2,057	(5,943)	4,314	3,999	4,396	6,766	2,917	(2,095)	2,612	1,267	4,701	(8,839)	(7,617)	1,760	9,573	(5,123)	(7,291)	(4,575)	(1,946)	9,626	(4,186)	(6,595)	(1,645)	21,990	12,909	26,659	(12,448)	(1,811)	4,608	(1,823)	(11,474)	(7,149)	(5,953)	(4,662)	(355)	(18,119)	(9,460)	3,995	625	597	(4,243)	(2,209)	4,730	(8,950)	6,590	161	(7,775)	13,270	(3,010)	1,134	3,619	(12,648)	15,925	(3,834)	(557)
Interest receivable	-	-	(351)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory	(46)	(316)	(1,030)	298	(1,309)	(1,921)	(2,224)	(1,466)	1,150	(525)	(1,055)	(4,491)	(1,710)	(1,377)	1,771	1,305	(11)	(1,220)	(2,967)	(2,949)	(1,563)	(8,699)	(8,985)	1,628	(4,747)	5,036	(7,068)	(11,316)	1,862	377	5,450	(3,627)	(6,410)	(4,270)	2,804	(10,452)	(18,328)	(3,111)	3,621	4,472	11,400	16,382	(11,744)	(11,583)	(8,637)	(12,125)	(44,089)	(36,434)	10,185	23,654	13,947	11,352	(401)	5,710	1,697	4,772	11,778	(10,309)	3,747	(737)	247	(7,052)	(10,635)	2,547	(7,400)	(15,488)
Prepaid expenses and other assets	(281)	(1,774)	(1,682)	(3,177)	(2,173)	(4,879)	3,792	9,936	(5,768)	10,791	(15,336)	8,597	3,157	(5,551)	(1,875)	(3,399)	(7,668)	671	(14,961)	16,679	(1,868)	521	(4,893)	719	4,310	(2,608)	(2,472)	783	(9,180)	3,079	9,793	4,475	737	(2,992)	13,886	315	11,946	2,523	(2,445)	(5,320)	2,636	(2,606)	(4,832)	(5,137)	(8,807)	12,787	(5,989)	3,151	(16,327)	8,105	6,839	1,768	4,214	(3,333)	4,079	10,600	15,560	(3,430)	(10,142)	11,432	9,973	7,833	(3,244)	(19,586)	9,288	(13,542)
Accounts payable	(522)	1,665	1,649	(240)	2,439	3,148	6,176	(2,610)	5,667	557	14,945	(4,026)	10,520	10,259	(8,283)	13,174	25,670	(7,952)	29,760	(11,900)	15,424	25,332	(1,621)	45,225	(25,156)	3,334	21,782	1,586	47,253	(36,432)	7,428	19,835	(11,038)	35,470	(18,842)	(23,137)	(17,547)	38,684	22,116	(50,210)	18,777	29,367	10,290	59,028	(33,458)	74,117	109,977	(12,013)	22,973	(55,954)	16,122	(28,872)	(22,209)	77,226	(66,481)	50,740	39,276	(36,946)	48,503	(40,495)	10,197	(18,741)	(13,193)	40,277	(36,489)	(9,405)
Accrued expenses and other liabilities	3,291	4,939	4,235	7,061	13,457	24,804	19,707	5,996	19,720	11,660	515	41,296	(11,874)	36,858	(13,846)	2,791	13,929	(5,127)	28,521	(16,638)	(27,427)	(20,671)	16,847	20,347	(54,234)	(25,504)	(42,544)	15,658	26,831	(17,107)	(13,579)	11,803	27,505	18,720	(51,886)	42,427	36,766	26,708	22,172	(12,721)	(12,941)	23,218	17,493	2,092	6,916	7,074	33,575	16,312	(17,463)	30,520	(47,317)	(17,948)	13,990	(24,073)	21,675	(25,613)	(14,021)	12,063	36,823	(17,583)	2,677	33,980	9,660	24,116	(36,316)	(2,540)
Net cash provided by (used in) operating activities	9,169	(6,671)	34,637	54,240	89,032	129,654	159,973	165,149	146,749	141,808	153,739	242,022	27,426	134,889	32,905	52,138	247,358	9,600	105,059	8,985	33,092	156,736	16,379	160,363	(32,109)	47,699	192,332	22,220	183,270	16,980	108,625	331,095	62,905	202,192	18,964	54,383	338,444	105,681	150,487	(37,220)	46,273	265,221	36,567	143,344	(48,195)	87,820	219,536	(25,251)	81,126	12,599	61,815	130,289	42,254	174,946	8,427	125,095	350,722	4,384	176,519	9,695	107,472	298,070	25,059	164,661	(16,522)	173,198
Investing activities
Purchases of property, plant and equipment	(13,374)	(18,629)	(24,929)	(62,845)	(62,740)	(76,286)	(101,326)	(37,405)	(46,420)	(78,999)	(72,122)	(75,813)	(24,393)	(19,156)	(19,092)	(17,794)	(80,435)	(19,319)	(16,941)	(20,656)	(17,241)	(74,157)	(20,457)	(18,217)	(8,767)	(13,489)	(60,930)	(21,026)	(17,741)	(19,167)	(12,629)	(70,563)	(14,193)	(13,901)	(10,544)	(11,829)	(50,467)	(8,383)	(8,407)	(5,946)	(15,788)	(38,524)	(8,624)	(17,915)	(15,603)	(11,898)	(54,040)	(11,758)	(14,732)	(10,996)	(16,286)	(53,772)	(22,565)	(11,390)	(10,470)	(10,502)	(54,927)	(17,001)	(26,418)	(24,792)	(20,813)	(89,024)	(26,353)	(25,180)	(23,000)	(74,533)
Proceeds from the sale of subsidiaries, net of transactions costs and cash divested	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	93,779	-	-	-	93,779	-	-	-	-	-	-	-	-	(1,124)	(1,124)	-	-	-	-	-	-	-	-	-	-	-	-	(4,130)	-	(4,130)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business acquisitions, net of cash acquired	-	-	-	-	-	-	(6,496)	-	(180,675)	-	(216,384)	(123,804)	(22,815)	(4,717)	(134,908)	(1,972)	(164,412)	(580)	(206,236)	1,941	-	(204,875)	(110)	-	-	-	(110)	(18,000)	(271,269)	(651)	-	(289,920)	(4,272)	-	-	-	(4,272)	-	(36,395)	-	(17,015)	(53,410)	-	(68,946)	(6,312)	-	(75,258)	-	(498)	-	-	(498)	-	-	-	(3,621)	(3,621)	-	-	(658)	-	(658)	-	(10,401)	(1,300)	(11,701)
Purchases of intangible assets	(1,183)	-	-	-	(1,250)	-	-	(205)	(239)	(750)	(253)	(250)	(357)	(45)	(51)	(23)	(476)	(26)	(62)	(22)	(87)	(197)	(24)	(254)	(30)	-	(308)	(22)	-	-	(42)	(64)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of marketable securities	-	-	(75,705)	(52,399)	(49,487)	(6,078)	(9,804)	-	-	-	(4,629)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(203,581)	(203,581)	-	-	-	-	-	(84,030)	-	-	-	(84,030)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capitalization of software and website development costs	(3,523)	(1,908)	(2,656)	(4,189)	(5,696)	(7,168)	(6,516)	(6,290)	(5,463)	(7,667)	(9,749)	(17,323)	(4,910)	(7,217)	(6,057)	(8,140)	(26,324)	(8,312)	(10,798)	(9,568)	(8,629)	(37,307)	(8,934)	(9,180)	(11,362)	(11,371)	(40,847)	(11,233)	(10,688)	(12,716)	(14,015)	(48,652)	(12,471)	(10,946)	(12,407)	(8,168)	(43,992)	(14,804)	(11,641)	(18,876)	(15,616)	(60,937)	(15,639)	(16,495)	(17,741)	(15,422)	(65,297)	(15,330)	(13,916)	(14,935)	(13,606)	(57,787)	(14,397)	(13,947)	(15,035)	(14,928)	(58,307)	(14,571)	(16,677)	(16,343)	(16,502)	(64,093)	(17,286)	(16,024)	(16,796)	(50,106)
Investment in equity interests	-	-	-	-	-	-	-	-	-	(12,753)	(4,994)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of available-for-sale securities	-	-	31,880	57,000	61,117	31,937	100	9,570	529	-	-	-	-	-	-	-	-	-	6,346	-	-	6,346	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturity of held-to-maturity investments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,000	17,000	66,679	57,521	151,200	9,953	22,377	27,780	32,000	92,110	20,500	5,416	10,760	2,000	38,676	4,500	-	-	-	4,500	-	-	-	-
Sale of equity securities	-	-	-	-	-	-	-	-	-	-	449	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the sale of assets	-	-	-	256	-	-	177	-	-	1,750	137	-	-	-	-	-	-	303	343	3,585	282	4,513	217	117	151	401	886	318	205	27	90	640	670	177	786	11	1,644	2,103	1,269	202	2,122	5,696	1,699	24,136	1,631	10,305	37,771	122	1,243	499	2,795	4,659	5,636	352	431	17,146	23,565	1,570	98	689	723	3,080	821	872	1,698	3,391
Proceeds from insurance related to investing activities	-	-	-	-	-	-	-	-	-	-	-	-	2,075	1,549	-	-	3,624	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds (payments) for settlement of derivatives designated as hedging instruments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(12,016)	(12,016)	-	-	27,732	2,059	29,791	-	-	-	(3,291)	(3,291)	-	(1,880)	-	4,124	2,244	-	-	-	-	-	-	-	-	-	-	-	5,438	-	-	5,438	-	-	-	-
Other investing activities	-	-	-	-	-	-	-	-	-	(512)	561	-	-	775	-	1,710	2,485	482	99	1,915	1,392	3,888	(2,173)	1,170	(1,947)	(114)	(3,064)	395	(447)	461	-	409	903	217	436	-	1,556	-	(419)	150	-	(269)	(617)	-	-	-	(617)	-	-	-	(277)	(277)	-	-	-	-	-	-	-	-	-	-	-	-	100	100
Net cash provided by (used in) investing activities	(18,080)	(20,537)	(71,410)	(62,177)	(58,056)	(57,595)	(123,865)	(34,330)	(232,268)	(98,931)	(306,984)	(217,190)	(50,400)	(28,811)	(160,108)	(26,219)	(265,538)	(27,452)	(227,249)	(22,805)	(24,283)	(301,789)	62,298	(26,364)	(21,955)	(24,573)	(10,594)	(49,568)	(299,940)	(32,046)	(38,612)	(420,166)	(29,363)	(24,453)	6,003	(19,051)	(66,864)	(21,084)	(55,593)	(24,470)	(253,169)	(354,316)	(13,181)	(64,100)	28,654	44,630	(3,997)	(101,043)	(5,526)	(1,782)	4,626	(103,725)	(10,826)	(19,569)	(14,314)	(9,905)	(54,614)	(25,502)	(37,559)	(41,104)	(36,592)	(140,757)	(42,818)	(50,733)	(39,298)	(132,849)
Financing activities
Proceeds from borrowings of debt	6,021	11,361	9,600	1,630	-	-	-	-	408,500	113,712	482,800	367,500	214,999	55,000	246,009	82,000	598,008	87,000	360,000	165,004	125,071	737,075	179,532	131,817	279,159	215,487	805,995	245,096	447,842	233,440	214,229	1,140,607	277,785	356,300	409,515	237,890	1,281,490	99,000	202,000	233,051	131,631	665,682	-	-	-	-	-	10,000	-	38,264	-	48,264	173	347	366	204,889	205,775	-	41,191	92	437	41,720	182	974	2,352	3,508
Proceeds from Term Loan B	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,149,751	1,149,751	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of senior notes	-	-	-	-	-	-	-	-	-	-	-	275,000	-	-	-	-	-	-	-	-	-	-	-	-	-	400,000	400,000	-	-	-	-	-	-	-	210,500	-	210,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of 12% Senior Secured Notes due 2025	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	271,568	271,568	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of 7.375% Senior Notes due 2032	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	525,000	-	-	-	525,000	-	-	-	-
Payments of debt	-	(307)	(1,386)	(2,620)	(3,251)	(3,219)	(13,848)	(5,222)	(179,500)	(104,125)	(273,490)	(581,920)	(73,310)	(162,014)	(96,797)	(98,501)	(430,622)	(82,725)	(165,046)	(150,511)	(141,631)	(539,913)	(234,678)	(252,788)	(168,687)	(318,628)	(974,781)	(206,692)	(268,305)	(206,035)	(266,664)	(947,696)	(74,392)	(218,054)	(310,603)	(734,285)	(1,337,334)	(182,726)	(289,743)	(167,050)	(603,087)	(1,242,606)	(4,111)	(3,560)	(3,478)	(3,361)	(14,510)	(13,256)	(3,330)	(41,361)	(3,363)	(61,310)	(3,784)	(3,891)	(4,108)	(207,939)	(219,722)	(4,497)	(44,659)	(4,516)	(4,231)	(57,903)	(3,916)	(4,373)	(5,440)	(13,729)
Payments for early redemption of second lien notes	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(309,000)	(309,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for early redemption or purchase of 7.0% Senior Notes due 2026	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(44,994)	(44,994)	(19,815)	(4,656)	-	-	(24,471)	(522,135)	-	-	-	(522,135)	-	-	-	-
Payments for early redemptions of senior notes	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(275,000)	(275,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of early redemption fees for senior notes	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(14,438)	(14,438)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of debt issuance costs	-	-	-	-	-	-	-	-	(1,819)	(1,536)	(1,364)	(6,373)	(8)	-	(62)	-	(70)	-	-	-	(229)	(229)	(3,251)	-	-	(7,378)	(10,629)	(1,458)	(13)	(1,258)	-	(2,729)	-	-	(4,862)	(17,708)	(22,570)	(410)	(641)	(1,410)	(9,502)	(11,963)	(1,137)	(298)	(5)	(4)	(1,444)	(23)	(28)	-	-	(51)	-	-	-	(2,076)	(2,076)	(8,445)	(3,106)	(96)	-	(11,647)	-	-	-	-
Payment of deferred offering costs	-	(255)	(1,387)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from public offering	-	-	61,380	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of purchase consideration included in acquisition-date fair value	-	-	-	-	-	-	-	-	-	-	-	(11,105)	-	-	(4,350)	(2,980)	(7,330)	-	-	(539)	-	(539)	-	(83)	(2,022)	-	(2,105)	-	-	-	(3,282)	(3,282)	-	-	-	-	-	(648)	-	(557)	-	(1,205)	-	-	(43,647)	-	(43,647)	(225)	-	(6,875)	-	(7,100)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of warrants	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,432	22,432	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of finance lease obligations2	-	-	-	-	-	-	-	-	-	-	(1,297)	(5,750)	(2,183)	(4,194)	(3,760)	(3,796)	(13,933)	(3,276)	(3,538)	(5,215)	(3,858)	(15,887)	(4,658)	(4,804)	(4,317)	(3,839)	(17,618)	(4,182)	(4,598)	(3,942)	(4,341)	(17,063)	(2,719)	(2,645)	(2,990)	(1,157)	(9,511)	(1,592)	(1,683)	(2,211)	(2,514)	(8,000)	(2,526)	(30,581)	(1,992)	(2,413)	(37,512)	(2,412)	(1,852)	(1,753)	(2,273)	(8,290)	(2,768)	(2,112)	(2,621)	(2,639)	(10,140)	(1,950)	(2,208)	(1,729)	(1,946)	(7,833)	(2,001)	(2,624)	(3,182)	(7,807)
Purchase of noncontrolling interests	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(20,230)	-	-	(20,230)	-	-	-	(1,144)	(1,144)	-	(41,177)	-	(44,343)	(85,520)	-	-	-	-	-	-	(5,063)	-	-	(5,063)	-	(324)	-	(1,841)	(2,165)	-	(95,567)	-	-	(95,567)	-	-	(65)	-	(65)	-	(4,058)	-	-	(4,058)	-	(22,633)	(1,792)	(24,425)
Distribution to noncontrolling interests	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(3,375)	-	-	(3,375)	-	(3,921)	(34)	-	(3,955)	-	(4,599)	-	(148)	(4,747)	-	(3,963)	-	-	(3,963)	(3,652)	-	-	-	(3,652)	(549)	-	-	-	(549)	(821)	-	-	-	(821)	-	-	-	-
Proceeds from sale of noncontrolling interest	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,390	-	-	-	35,390	-	-	-	57,046	57,046	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,814	24,814
Capital contribution from noncontrolling interest	-	-	-	-	-	-	-	-	-	-	4,821	4,160	5,141	-	-	-	5,141	-	1,404	-	-	1,404	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of ordinary shares	711	47	6,644	13,706	8,321	12,067	14,977	7,013	1,394	4,805	4,425	13,123	282	1,770	1,327	1,326	4,705	-	257	74	5,861	6,192	6,070	2,949	2,497	465	11,981	-	2,891	(134)	646	3,403	-	6	-	-	6	-	-	-	(2,280)	(2,280)	-	-	-	-	-	-	-	-	327	327	82	6	687	1,327	2,102	1,000	369	6	-	1,375	508	780	197	1,485
Purchase of ordinary shares	(5,156)	-	-	-	-	(45,518)	-	(56,935)	(309,701)	(64,351)	(42,016)	-	(127,793)	(14,411)	(11,263)	-	(153,467)	-	(50,008)	-	-	(50,008)	(40,674)	(14,465)	(39,571)	-	(94,710)	-	(14,043)	(12,074)	(29,450)	(55,567)	(231,883)	(305,690)	(89,483)	-	(627,056)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(100,729)	(56,253)	(156,982)	(10,620)	(42,367)	(3,947)	(20,841)	(77,775)	(2,726)	(25,460)	(21,891)	(50,077)
Payments of withholding taxes in connection with equity awards	-	-	-	-	(3,391)	(4,176)	(6,142)	(5,653)	(4,149)	(3,556)	(9,430)	(29,351)	(2,741)	(1,505)	(1,522)	(1,699)	(7,467)	(7,549)	(1,315)	(1,952)	(3,752)	(14,568)	(1,190)	(908)	(982)	(16,618)	(19,698)	(1,766)	(359)	(277)	(3,577)	(5,979)	(359)	(103)	(40,955)	(292)	(41,709)	(5,592)	-	(1)	(164)	(5,757)	(2,579)	(319)	(200)	(121)	(3,219)	(2,212)	(158)	(1,439)	(639)	(4,448)	(8,404)	(1,784)	(3,881)	(2,355)	(16,424)	(12,948)	(3,822)	(3,147)	(2,015)	(21,932)	(6,703)	(3,629)	(3,982)	(14,314)
Proceeds from issuance of Series B preferred shares, net	28,187	22,688	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of Series A preferred shares	(3,961)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of loans	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(12,000)	-	(4,500)	(4,500)	(21,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities	-	-	-	-	-	-	-	-	-	-	-	(118)	(85)	(218)	-	-	(303)	-	1,281	-	-	1,281	-	-	-	-	-	645	(645)	2,319	(175)	2,144	(1,437)	(278)	(454)	53	(2,116)	(11)	(46)	(253)	(374)	(684)	2	39	(67)	(86)	(112)	-	-	113	(398)	(285)	-	-	-	-	-	-	-	-	88	88	-	-	-	-
Net cash (used in) provided by financing activities	25,802	33,534	74,851	12,716	1,679	(40,846)	(5,013)	(60,797)	(85,275)	(55,051)	164,449	25,166	14,302	(125,572)	129,582	(23,650)	(5,338)	(6,550)	122,805	6,861	(18,538)	104,578	(75,459)	(138,282)	61,577	(25,593)	(177,757)	31,643	118,218	12,039	(79,911)	81,989	(33,005)	(174,385)	170,634	(221,499)	(258,255)	(91,979)	(99,775)	61,569	354,313	224,128	(10,351)	(39,006)	(49,389)	(7,826)	(106,572)	(11,780)	(100,935)	(13,051)	(51,340)	(177,106)	(35,065)	(12,090)	(110,351)	(65,046)	(222,552)	(35,416)	(58,660)	(13,337)	(28,508)	(135,921)	(14,656)	(56,965)	(8,924)	(80,545)
Effect of exchange rate changes on cash and cash equivalents	20	16	173	32	1,026	(370)	(2,356)	3,804	(3,555)	36	1,239	(8,922)	(1,096)	(1,121)	1,148	(1,569)	(2,640)	601	(4,652)	838	4,001	788	1,843	1,547	2,301	(3,184)	2,507	(454)	(1,352)	(979)	919	(1,866)	(4,582)	2,329	(2,927)	1,597	(3,583)	2,590	1,535	(398)	(758)	2,969	(2,827)	(2,310)	(717)	(9,083)	(14,937)	(6,879)	8,644	1,815	222	3,802	(1,477)	5,722	(3,632)	(707)	(94)	5,710	(8,822)	3,314	8,613	8,815	(1,062)	570	(4,296)	(4,788)
Change in cash held for sale	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,042	12,042	12,042	-	-	-	12,042	-	-	-	-	-	-	-	(1,326)	1,326	-	-	-	-	-	-	-	-	-	-	-	-	(4,130)	4,130	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash and cash equivalents	16,911	6,342	38,251	4,811	33,681	30,843	28,739	73,825	(174,349)	(12,138)	12,443	41,076	(9,768)	(20,615)	3,527	700	(26,158)	(23,801)	(4,037)	(6,121)	(17,770)	(51,729)	17,103	(2,736)	9,814	(5,651)	18,530	3,841	196	(4,006)	(8,979)	(8,948)	(4,045)	5,683	191,348	(183,244)	9,742	(4,792)	(3,346)	(519)	146,659	138,002	10,208	37,928	(69,647)	115,541	94,030	(144,953)	(20,821)	3,711	15,323	(146,740)	(5,114)	149,009	(119,870)	49,437	73,462	(50,824)	71,478	(41,432)	50,985	30,207	(33,477)	57,533	(69,040)	(44,984)
Cash and cash equivalents at beginning of period	3,149	20,060	26,402	64,653	69,464	103,145	133,988	162,727	236,552	62,203	50,065	62,508	103,584	93,816	73,199	76,726	103,584	77,426	53,625	49,588	43,467	77,426	25,697	42,800	40,064	49,878	25,697	44,227	48,068	48,264	44,258	44,227	35,279	31,234	36,917	228,265	35,279	45,021	40,229	36,883	36,364	45,021	183,023	193,231	231,159	161,512	183,023	277,053	132,100	111,279	114,990	277,053	130,313	125,199	274,208	154,338	130,313	203,775	152,951	224,429	182,997	203,775	233,982	200,505	258,038	233,982
Cash and cash equivalents at end of period	$20,060	$26,402	$64,653	$69,464	$103,145	$133,988	$162,727	$236,552	$62,203	$50,065	$62,508	$103,584	$93,816	$73,201	$76,726	$77,426	$77,426	$53,625	$49,588	$43,467	$25,697	$25,697	$42,800	$40,064	$49,878	$44,227	$44,227	$48,068	$48,264	$44,258	$35,279	$35,279	$31,234	$36,917	$228,265	$45,021	$45,021	$40,229	$36,883	$36,364	$183,023	$183,023	$193,231	$231,159	$161,512	$277,053	$277,053	$132,100	$111,279	$114,990	$130,313	$130,313	$125,199	$274,208	$154,338	$203,775	$203,775	$152,951	$224,429	$182,997	$233,982	$233,982	$200,505	$258,038	$188,998	$188,998
1 Quarterly results are unaudited and when added together may not equal annual results due to rounding.
2 During Q1 FY2020, we adopted the new lease accounting standard, ASC 842, which resulted in a change in classification of our Waltham, Massachusetts build-to-suit lease from a finance lease to an operating lease. For the periods from Q2 FY2016 through Q4 FY2019, we presented approximately $1 million of quarterly payments related this lease within financing activities. Due to the change in lease classification during Q1 FY2020, the impact of these payments is now presented within operating activities. We did not recast the prior periods to reflect this change in classification.

Adjusted Free Cash Flow (Non-GA

Reconciliation of Adjusted Free Cash Flow In $ thousands except where noted
	FY 2006	FY 2007	FY 2008	FY 2009	FY 2010	FY 2011	FY 2012	FY 2013	FY 2014	FY 2015	FY 2016	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	Total	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
ADJUSTED FREE CASH FLOW AND SELECTED CASH FLOW METRICS:
Net cash provided by (used in) operations	$34,637	$54,377	$89,032	$129,654	$159,973	$165,149	$146,749	$141,808	$153,739	$242,022	$247,358	$9,600	$105,059	$8,985	$33,092	$156,736	$16,379	$160,363	($32,109)	$47,699	$192,332	$22,220	$183,270	$16,980	$108,625	$331,095	$62,905	$202,192	$18,964	$54,383	$338,444	$105,681	$150,487	($37,220)	$46,273	$265,221	$36,567	$143,344	($48,195)	$87,820	$219,536	($25,251)	$81,126	$12,599	$61,815	$130,289	$42,254	$174,946	$8,427	$125,095	$350,722	$4,384	$176,519	$9,695	$107,472	$298,070	$25,059	$164,661	($16,522)	$173,198
Purchases of property, plant & equipment	(24,929)	(62,845)	(62,740)	(76,286)	(101,326)	(37,405)	(46,420)	(78,999)	(72,122)	(75,813)	(80,435)	(19,319)	(16,941)	(20,656)	(17,241)	(74,157)	(20,457)	(18,217)	(8,767)	(13,489)	(60,930)	(21,026)	(17,741)	(19,167)	(12,629)	(70,563)	(14,193)	(13,901)	(10,544)	(11,829)	(50,467)	(8,383)	(8,407)	(5,946)	(15,788)	($38,524)	(8,624)	(17,915)	(15,603)	(11,898)	($54,040)	(11,758)	(14,732)	(10,996)	(16,286)	($53,772)	(22,565)	(11,390)	(10,470)	(10,502)	(54,927)	(17,001)	($26,418)	($24,792)	(20,813)	(89,024)	(26,353)	(25,180)	(23,000)	(74,533)
Purchases of intangible assets not related to acquisition	-	-	(1,250)	-	-	(205)	(239)	(750)	(253)	(250)	(476)	(26)	(62)	(22)	(87)	(197)	(24)	(254)	(30)	-	(308)	(22)	-	-	(42)	(64)	-	-	-	-	-	-	-	-	-	$0	-	-	-	-	$0	-	-	-	-	$0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capitalization of software and website development costs	(2,656)	(4,189)	(5,696)	(7,168)	(6,516)	(6,290)	(5,463)	(7,667)	(9,749)	(17,323)	(26,324)	(8,312)	(10,798)	(9,568)	(8,629)	(37,307)	(8,934)	(9,180)	(11,362)	(11,371)	(40,847)	(11,233)	(10,688)	(12,716)	(14,015)	(48,652)	(12,471)	(10,946)	(12,407)	(8,168)	(43,992)	(14,804)	(11,641)	(18,876)	(15,616)	($60,937)	(15,639)	(16,495)	(17,741)	(15,422)	($65,297)	(15,330)	(13,916)	(14,935)	(13,606)	($57,787)	(14,397)	(13,947)	(15,035)	(14,928)	(58,307)	(14,571)	($16,677)	($16,343)	(16,502)	(64,093)	(17,286)	(16,024)	(16,796)	(50,106)
Proceeds from sale of assets 1	-	256	-	-	177	-	-	1,750	137	-	-	303	343	3,585	282	4,513	217	117	151	401	886	318	205	27	90	640	670	177	786	11	1,644	2,103	1,269	202	2,122	$5,696	1,699	910	1,631	10,305	$14,545	122	1,243	499	2,795	$4,659	5,636	352	431	17,146	23,565	1,570	$98	$689	723	3,080	821	872	1,698	3,391
Payment of contingent earn-out liabilities	-	-	-	-	-	-	-	-	-	8,055	8,613	-	-	-	-	-	-	-	49,241	-	49,241	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	-	0.00	-	-	-	-	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from insurance related to investing activities	-	-	-	-	-	-	-	-	-	-	3,624	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	-	0.00	-	-	-	-	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjusted free cash flow	$7,052	($12,401)	$19,346	$46,200	$52,308	$121,249	$94,627	$56,142	$71,752	$156,691	$152,360	($17,754)	$77,601	($17,676)	$7,417	$49,588	($12,819)	$132,829	($2,876)	$23,240	$140,374	($9,743)	$155,046	($14,876)	$82,029	$212,456	$36,911	$177,522	($3,201)	$34,397	$245,629	$84,597	$131,708	($61,840)	$16,991	$171,456	$14,003	$109,844	($79,908)	$70,805	$114,744	($52,217)	$53,721	($12,833)	$34,718	$23,389	$10,928	$149,961	($16,647)	$116,811	$261,053	($25,618)	$133,522	($30,751)	$70,880	$148,033	($17,759)	$124,329	($54,620)	$51,950
Reference:
Value of new finance leases	$-	$-	$-	$-	$-	$-	$-	$-	$-	$13,192	$7,535	$2,077	$2,835	$7,187	$2,323	$14,422	$-	$112	$419	$-	$531	$3,565	$3,660	$4,395	$251	$11,871	$-	$140	$1,451	$14	$1,605	$76	$74	$5,480	$1,366	$6,996	$865	$2,731	$159	$3,278	$7,033	$2,412	$6,231	$5,762	$5,898	$20,303	$386	$1,823	$2,231	$122	$4,562	$339	$466	$1,840	$667	$3,312	$1,381	$10,822	$3,713	$15,916
Cash restructuring payments	-	-	-	-	-	-	-	-	-	519	2,608	-	-	7,523	7,499	15,022	4,082	6,844	4,180	2,236	17,342	1,231	425	3,120	1,256	6,032	2,262	494	2,314	4,017	9,087	2,515	1,446	144	2,460	6,565	-	244	-	21	265	7,931	1,896	5,032	22,288	37,147	5,715	1,223	459	188	7,585	133	225	356	2,106	2,820	2,109	1,235	1,404	4,748
Cash taxes paid in current period	766	1,349	1,841	3,021	1,573	4,259	7,104	13,656	18,485	14,284	19,750	8,555	11,754	15,658	13,375	49,342	5,369	5,083	7,436	14,390	32,278	5,449	5,512	5,162	10,246	26,369	4,472	711	4,537	3,800	13,520	352	4,639	8,065	14,814	27,870	7,767	8,058	7,762	9,400	32,987	4,257	6,909	12,328	7,690	31,184	15,794	10,640	12,873	10,107	49,414	(1,829)	13,215	9,620	12,282	33,288	12,813	8,823	14,406	36,042
Cash paid for interest	$1,089	$1,789	$1,635	$1,391	$883	$219	$1,487	$4,762	$6,446	$8,520	$37,623	$5,362	$14,793	$7,275	$17,845	$45,275	$8,430	$17,433	$7,991	$22,760	$56,614	$7,549	$22,256	$10,082	$24,053	$63,940	$9,384	$23,929	$9,450	$30,143	$72,906	$9,078	$49,221	$8,015	$50,663	$116,977	$14,358	$35,329	$13,811	$34,601	$98,099	$15,060	$35,760	$19,976	$43,156	$113,952	$24,239	$42,407	$23,910	$41,716	$132,272	$35,248	$19,505	$36,325	$19,060	$110,138	$37,480	$18,647	$35,183	$91,310
Cash received for interest	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A					N/A					N/A					N/A	(797)	(764)	(797)	(413)	(2,771)	(587)	(344)	(420)	(489)	(1,840)	(691)	(710)	(789)	(1,040)	($3,230)	(2,074)	(2,954)	(2,980)	(3,443)	(11,451)	(3,349)	(2,816)	(5,043)	(2,961)	(14,169)	(3,712)	(2,668)	(3,427)	(2,561)	(12,368)	(3,127)	(2,786)	(3,424)	(9,337)
Interest expense for Waltham, Massachusetts lease	-	-	-	-	-	-	-	-	-	-	(6,287)	(1,970)	(1,956)	(1,897)	(1,904)	(7,727)	(1,911)	(1,896)	(1,838)	(1,844)	(7,489)	(1,849)	(1,833)	(1,775)	(1,779)	(7,236)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash interest, net, (related to borrowing)	$1,089	$1,789	$1,635	$1,391	$883	$219	$1,487	$4,762	$6,446	$8,520	$31,336	$3,392	$12,837	$5,378	$15,941	$37,548	$6,519	$15,537	$6,153	$20,916	$49,125	$5,700	$20,423	$8,307	$22,274	$56,704	$8,587	$23,165	$8,653	$29,730	$70,135	$8,491	$48,877	$7,595	$50,174	$115,137	$13,667	$34,619	$13,022	$33,561	$94,869	$12,986	$32,806	$16,996	$39,713	$102,501	$20,890	$39,591	$18,867	$38,755	$118,103	$31,536	$16,837	$32,898	$16,499	$97,770	$34,353	$15,861	$31,759	$81,973
Capital expenditures as a percent of total revenue	16.4 %	24.6 %	15.7 %	14.8 %	15.1 %	4.6 %	4.5 %	6.8 %	5.7 %	4.9 %	4.5 %	4.4 %	2.9 %	3.8 %	3.1 %	3.5 %	3.6 %	2.4 %	1.4 %	2.1 %	2.4 %	3.6 %	2.1 %	2.9 %	1.9 %	2.6 %	2.2 %	1.7 %	1.8 %	2.80%	2.00%	1.4 %	1.1 %	1.0 %	2.5 %	1.5 %	1.3 %	2.1 %	2.4 %	1.6 %	1.8 %	1.7 %	1.7 %	1.5 %	2.1 %	1.7 %	3.0 %	1.2 %	1.3 %	1.3 %	1.7 %	2.1 %	2.8 %	3.1 %	2.4 %	2.6 %	3.1 %	2.4 %	2.6 %	2.7 %
Capital expenditures plus new finance leases as a percent of total revenue	16.4 %	24.6 %	15.7 %	14.8 %	15.1 %	4.6 %	4.5 %	6.8 %	5.7 %	6.0 %	4.9 %	4.8 %	3.4 %	5.1 %	3.5 %	4.1 %	3.6 %	2.4 %	1.4 %	2.1 %	2.4 %	4.2 %	2.6 %	3.6 %	1.9 %	3.0 %	2.2 %	1.7 %	2.0 %	2.80%	2.30%	1.4 %	1.1 %	2.0 %	2.7 %	1.8 %	1.4 %	2.4 %	2.4 %	2.1 %	2.1 %	2.0 %	2.5 %	2.3 %	2.8 %	2.4 %	3.0 %	1.4 %	1.6 %	1.3 %	1.8 %	2.2 %	2.9 %	3.4 %	2.5 %	2.7 %	3.2 %	3.5 %	3.0 %	3.2 %
Note: values may not sum to total due to rounding.
* Cash interest, net is cash interest payments, partially offset by cash interest received on our cash and marketable securities as of Q1 FY2020 in this document. The presentation of information prior to this quarter shows only the cash interest payments, but cash interest received was immaterial in these periods.

Balance Sheet

Balance Sheet1 In $ thousands
	June 30, 2005	June 30, 2006	June 30, 2007	June 30, 2008	June 30, 2009	June 30, 2010	June 30, 2011	June 30, 2012	June 30, 2013	June 30, 2014	June 30, 2015	Q1 16	Q2 16	Q3 16	Q4 16	June 30, 2016	Q1 17	Q2 17	Q3 17	Q4 17	June 30, 2017	Q1 18	Q2 18	Q3 18	Q4 18	June 30, 2018	Q1 19	Q2 19	Q3 19	Q4 19	June 30, 2019	Q1 20	Q2 20	Q3 20	Q4 20	June 30, 2020	Q1 21	Q2 21	Q3 21	Q4 21	June 30, 2021	Q1 22	Q2 22	Q3 22	Q4 22	June 30, 2022	Q1 23	Q2 23	Q3 23	Q4 23	June 30, 2023	Q1 24	Q2 24	Q3 24	Q4 24	June 30, 2024	Q1 25	Q2 25	Q3 25	Q4 25	June 30, 2025	Q1 26	Q2 26	Q3 26	March 31, 2026
CONSOLIDATED BALANCE SHEET:												(Sep 15)	(Dec 15)	(Mar 16)	(Jun 16)		(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)		(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)		(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)		(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)		(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)		(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)		(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)		(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)		(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)		(Sep 25)	(Dec 25)	(Mar 26)
Assets
Current assets:
Cash and cash equivalents	$26,402	$64,653	$69,464	$103,145	$133,988	$162,727	$236,552	$62,203	$50,065	$62,508	$103,584	$93,816	$73,201	$76,726	$77,426	$77,426	$53,625	$49,588	$43,467	$25,697	$25,697	$42,800	$40,064	$49,878	$44,227	$44,227	$48,068	$48,264	$44,258	$35,279	$35,279	$31,234	$36,917	$228,265	$45,021	$45,021	$40,229	$36,883	$36,364	$183,023	$183,023	$193,231	$231,159	$161,512	$277,053	$277,053	$132,100	$111,279	$114,990	$130,313	$130,313	$125,199	$274,208	$154,338	$203,775	$203,775	$152,951	$224,429	$182,997	$233,982	$233,982	$200,505	$258,038	$188,998	$188,998
Marketable securities	-	43,474	38,578	26,598	-	9,604	529	-	-	13,857	6,910	5,745	5,883	6,194	7,893	7,893	7,312	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	152,248	152,248	152,028	147,199	95,637	49,952	49,952	101,726	85,070	68,305	38,540	38,540	22,613	17,239	6,499	4,500	4,500	-	-	-	-	-	-	-	-	-
Accounts receivable, net of allowances	1,186	1,465	4,647	6,105	5,672	9,389	13,389	20,125	22,026	23,515	32,145	38,699	36,100	36,992	32,327	32,327	30,121	52,179	51,426	48,630	48,630	58,413	66,876	65,632	55,621	55,621	63,131	68,100	70,095	60,646	60,646	68,518	70,496	46,974	34,596	34,596	47,549	51,404	45,365	50,679	50,679	56,624	61,537	66,702	63,885	63,885	70,533	70,433	67,869	67,353	67,353	68,892	63,222	71,070	64,576	64,576	73,757	58,863	66,146	68,289	68,289	78,731	70,605	72,663	72,663
Inventory	354	1,407	1,144	2,548	4,384	6,223	8,377	7,168	7,620	12,138	18,356	19,835	20,890	19,640	18,125	18,125	19,510	41,422	44,661	46,563	46,563	56,754	55,263	63,009	60,602	60,602	78,407	75,171	67,203	66,310	66,310	82,282	80,151	70,822	80,179	80,179	91,504	85,932	76,104	70,044	70,044	90,737	96,656	97,919	126,728	126,728	153,504	140,517	116,379	107,835	107,835	113,985	104,635	96,319	97,016	97,016	110,452	103,313	101,896	112,870	112,870	119,469	122,750	123,814	123,814
Prepaid expenses and other current assets	2,651	3,564	4,962	5,678	12,819	15,059	13,444	26,102	20,520	45,923	55,103	59,274	61,320	64,656	64,997	64,997	64,629	98,786	77,240	78,835	78,835	75,921	73,282	69,231	78,846	78,846	73,855	95,903	92,048	78,065	78,065	87,161	72,751	93,317	88,608	88,608	82,408	84,965	75,717	72,504	72,504	81,431	94,000	108,740	108,697	108,697	121,428	118,015	102,582	96,986	96,986	113,230	118,730	113,952	88,112	88,112	90,696	109,035	92,671	87,465	87,465	90,566	109,760	110,333	110,333
Assets held for sale	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46,276	46,276	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets	30,593	114,563	118,795	144,074	156,863	203,002	272,291	115,598	100,231	157,941	216,098	217,369	197,394	204,208	200,768	200,768	175,197	241,975	216,794	246,001	246,001	233,888	235,485	247,750	239,296	239,296	263,461	287,438	273,604	240,300	240,300	269,195	260,315	439,378	248,404	248,404	261,690	259,184	233,550	528,498	528,498	574,051	630,551	530,510	626,315	626,315	579,291	525,314	470,125	441,027	441,027	443,919	578,034	442,178	457,979	457,979	427,856	495,640	443,710	502,606	502,606	489,271	561,153	495,808	495,808
Property, plant and equipment, net	29,913	50,311	106,192	154,520	193,622	249,961	262,104	261,228	280,022	352,221	467,511	495,097	490,605	497,182	493,163	493,163	495,175	505,278	513,148	511,947	511,947	511,890	507,299	501,115	483,664	483,664	486,284	495,107	498,324	490,755	490,755	362,045	364,155	347,228	338,659	338,659	330,309	332,824	312,560	328,679	328,679	321,773	301,909	298,827	286,826	286,826	272,625	278,347	284,128	287,574	287,574	271,507	276,901	270,040	265,177	265,177	274,379	278,510	287,517	302,494	302,494	315,406	348,660	353,173	353,173
Operating lease assets, net2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	176,677	173,156	164,391	156,258	156,258	146,557	149,851	84,581	87,626	87,626	82,271	82,413	79,051	80,694	80,694	64,389	70,142	75,406	76,776	76,776	74,519	69,228	70,459	78,681	78,681	81,401	78,461	77,554	83,951	83,951	88,201	111,482	106,875	106,875
Software and website development costs, net	1,916	2,417	3,841	5,380	6,754	6,426	6,046	5,186	9,071	14,016	22,109	23,332	27,148	31,850	35,212	35,212	39,018	42,856	47,711	48,470	48,470	50,312	52,040	56,279	56,199	56,199	59,046	62,176	64,882	69,840	69,840	70,090	72,148	73,477	71,465	71,465	77,595	82,581	81,677	87,690	87,690	88,432	90,431	92,266	90,474	90,474	89,661	93,686	95,511	95,315	95,315	92,620	97,822	92,701	92,212	92,212	97,317	92,180	96,187	104,764	104,764	106,455	106,830	106,523	106,523
Deferred tax assets	317	435	-	2,956	7,035	7,277	6,522	327	581	8,762	17,172	19,016	20,772	21,560	26,093	26,093	41,556	18,344	34,248	48,004	48,004	78,748	66,022	66,753	67,087	67,087	68,364	59,336	57,885	59,906	59,906	57,527	160,058	143,571	143,496	143,496	146,807	146,814	135,491	149,618	149,618	146,431	138,805	113,059	113,088	113,088	114,020	9,519	10,093	12,740	12,740	12,060	11,773	9,435	95,059	95,059	97,003	90,227	87,806	61,086	61,086	57,905	56,944	55,465	55,465
Goodwill	1,556	-	-	-	-	-	4,168	140,429	140,893	317,187	400,629	408,767	399,102	474,736	466,005	466,005	470,819	528,895	516,013	514,963	514,963	525,806	531,199	542,369	520,843	520,843	547,109	727,577	720,734	718,880	718,880	711,670	721,057	615,333	621,904	621,904	637,568	726,813	706,626	726,979	726,979	717,970	783,159	787,572	766,600	766,600	748,055	776,788	787,291	781,541	781,541	772,165	790,967	779,263	787,138	787,138	804,806	777,608	792,749	826,156	826,156	826,363	826,655	817,929	817,929
Intangible assets, net	-	1,417	1,277	-	-	-	1,042	40,271	30,337	110,214	151,063	155,471	141,589	232,100	216,970	216,970	209,387	292,591	280,133	275,924	275,924	268,678	258,657	250,593	230,201	230,201	218,257	290,242	273,831	262,701	262,701	245,514	235,031	220,827	209,228	209,228	200,493	212,078	194,502	186,744	186,744	171,944	180,960	171,813	154,730	154,730	139,864	131,274	119,931	109,196	109,196	98,836	90,617	83,235	76,560	76,560	72,071	65,940	61,905	58,348	58,348	54,116	54,783	51,617	51,617
Marketable securities, non-current	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50,713	50,713	40,400	27,693	12,116	-	-	22,449	17,107	6,466	4,497	4,497	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets	1,691	2,249	4,748	9,022	5,275	11,223	3,727	29,390	40,432	28,644	25,213	24,621	25,921	24,905	25,658	25,658	25,163	34,007	29,860	34,560	34,560	26,772	28,238	44,994	54,927	54,927	58,598	50,295	32,022	25,994	25,994	46,751	37,414	35,222	25,592	25,592	21,010	20,368	34,276	35,951	35,951	41,416	39,456	38,296	48,945	48,945	67,693	49,929	44,486	46,193	46,193	43,845	32,647	37,002	39,351	39,351	29,105	39,352	30,888	28,739	28,739	28,824	27,860	67,516	67,516
Total assets	65,986	171,392	234,853	315,952	369,549	477,889	555,900	592,429	601,567	988,985	1,299,795	1,343,673	1,302,531	1,486,541	1,463,869	1,463,869	1,456,315	1,663,946	1,637,907	1,679,869	1,679,869	1,696,094	1,678,940	1,709,853	1,652,217	1,652,217	1,701,119	1,972,171	1,921,282	1,868,376	1,868,376	1,939,469	2,023,334	2,039,427	1,815,006	1,815,006	$1,822,029	$1,930,513	$1,783,263	$2,182,498	$2,182,498	$2,184,688	$2,275,377	$2,123,510	$2,167,672	$2,167,672	$2,098,047	$1,952,106	$1,893,437	$1,854,859	$1,854,859	$1,809,471	$1,947,989	$1,784,313	$1,892,157	$1,892,157	$1,883,938	$1,917,918	$1,878,316	$1,968,144	$1,968,144	$1,966,541	$2,094,367	$2,054,906	$2,054,906
Liabilities, noncontrolling interests and shareholders' equity (deficit)	-	-	-	-	-
Current liabilities:	-	-	-	-	-
Accounts payable	4,517	6,240	9,445	8,486	11,347	16,664	15,998	25,931	22,597	52,770	65,875	65,768	73,748	72,068	86,682	86,682	76,858	116,251	110,339	127,386	127,386	121,119	165,798	147,089	152,436	152,436	159,072	204,429	167,611	185,096	185,096	182,858	216,991	187,829	163,891	163,891	$211,087	$236,540	$174,947	$199,831	$199,831	$219,769	$271,430	$229,774	$313,710	$313,710	$285,226	$318,554	$263,980	$285,784	$285,784	$264,032	$343,997	$269,108	$326,656	$326,656	$297,859	$340,916	$298,885	$332,110	$332,110	$317,815	$353,593	$308,436	$308,436
Accrued expenses	10,585	13,716	22,403	35,655	43,724	65,609	68,989	98,402	103,338	121,177	172,826	179,155	200,661	191,757	178,987	178,987	169,828	223,932	201,213	175,567	175,567	186,502	219,707	210,407	186,661	186,661	196,017	237,564	207,918	194,715	194,715	216,000	237,171	190,097	210,764	210,764	243,821	291,039	265,593	247,513	247,513	261,161	260,930	262,620	253,841	253,841	266,196	264,510	300,013	257,109	257,109	272,819	265,461	271,093	245,931	245,931	266,677	285,084	273,422	304,085	304,085	308,496	353,338	302,649	302,649
Deferred revenue	540	1,924	746	1,893	3,393	4,138	8,819	15,978	18,668	26,913	23,407	23,378	23,593	29,383	25,842	25,842	32,295	25,503	32,802	30,372	30,372	39,239	28,824	34,991	27,697	27,697	30,204	32,132	34,941	31,780	31,780	35,533	32,574	28,096	39,130	39,130	36,390	41,913	42,298	50,868	50,868	49,071	57,521	59,556	58,861	58,861	54,229	48,911	55,222	44,698	44,698	49,490	45,113	49,838	46,118	46,118	51,919	48,379	53,013	47,975	47,975	57,024	49,969	53,787	53,787
Deferred tax liabilities	-	-	-	-	-	-	-	1,668	1,466	2,178	1,043	1,752	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Short-term debt	1,281	2,482	3,202	3,304	8,349	5,222	-	-	8,750	37,575	21,057	18,001	19,331	19,842	21,717	21,717	28,221	46,115	31,216	28,926	28,926	19,941	35,569	26,214	59,259	59,259	39,806	46,549	64,516	81,277	81,277	63,136	73,755	24,364	17,933	17,933	22,666	12,603	9,012	9,895	9,895	11,373	11,217	10,922	10,386	10,386	9,900	10,218	10,696	10,713	10,713	10,877	11,083	10,935	12,488	12,488	10,532	9,625	9,182	9,085	9,085	8,982	13,522	13,834	13,834
Operating lease liabilities, current2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36,274	37,698	37,405	41,772	41,772	39,426	38,315	29,508	26,551	26,551	26,340	28,522	28,293	27,706	27,706	23,013	22,857	23,855	22,559	22,559	21,851	20,403	19,315	19,634	19,634	20,276	19,814	20,340	22,064	22,064	21,984	24,690	24,153	24,153
Other current liabilities	-	-	-	-	-	-	-	-	207	888	21,470	23,889	22,701	24,900	22,635	22,635	24,522	24,234	53,900	78,435	78,435	86,998	89,269	42,922	54,971	54,971	53,054	46,642	42,866	27,881	27,881	12,714	11,444	13,144	13,268	13,268	21,589	40,966	77,669	103,515	103,515	95,441	75,599	27,206	28,035	28,035	33,061	31,685	21,824	24,469	24,469	20,114	21,649	15,631	13,136	13,136	22,801	23,952	24,860	43,343	43,343	40,343	30,960	27,142	27,142
Liabilities held for sale	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,797	8,797	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities	16,923	24,362	35,796	49,338	66,813	91,633	93,806	141,979	155,026	241,501	305,678	311,943	340,034	337,950	335,863	335,863	331,724	436,035	429,470	449,483	449,483	453,799	539,167	461,623	481,024	481,024	478,153	567,316	517,852	520,749	520,749	546,515	609,633	480,935	486,758	486,758	574,979	661,376	599,027	638,173	638,173	663,155	705,219	618,371	692,539	692,539	671,625	696,735	675,590	645,332	645,332	639,183	707,706	635,920	663,963	663,963	670,064	727,770	679,702	758,662	758,662	754,644	826,072	730,001	730,001
Deferred tax liabilities	-	-	1,225	2,656	1,637	3,151	3,794	18,359	12,246	30,846	48,007	49,970	44,819	72,792	69,430	69,430	67,166	69,676	56,047	60,743	60,743	58,805	57,008	56,089	51,243	51,243	49,109	46,979	45,656	44,531	44,531	37,967	36,216	34,690	33,811	33,811	33,057	30,941	27,612	27,433	27,433	24,707	23,161	30,682	41,142	41,142	48,418	47,178	43,759	47,351	47,351	49,407	44,611	47,221	24,701	24,701	23,645	22,898	20,988	23,308	23,308	22,961	22,505	21,509	21,509
Long-term debt	15,696	23,046	21,772	19,507	10,465	-	-	229,000	230,000	410,484	493,039	637,316	528,395	676,805	656,794	656,794	654,300	829,998	860,237	847,730	847,730	800,860	664,961	786,401	767,585	767,585	823,836	1,001,900	1,010,599	942,290	942,290	1,164,696	1,296,535	1,647,214	1,415,657	1,415,657	1,331,549	1,258,535	1,332,234	1,732,511	1,732,511	1,718,311	1,707,052	1,699,434	1,675,562	1,675,562	1,654,529	1,679,059	1,682,658	1,627,243	1,627,243	1,594,942	1,600,942	1,590,676	1,591,807	1,591,807	1,585,650	1,579,213	1,578,050	1,576,178	1,576,178	1,573,862	1,577,583	1,575,097	1,575,097
Lease financing obligation	-	-	-	-	-	-	-	-	-	18,117	93,841	107,233	111,972	111,109	110,232	110,232	109,363	108,481	107,540	106,606	106,606	105,679	104,737	103,737	102,743	102,743	104,579	106,971	111,956	112,096	112,096	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liabilities, non-current2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	146,678	143,276	134,267	128,963	128,963	119,817	122,006	72,142	66,222	66,222	61,459	59,444	55,888	57,474	57,474	44,783	50,218	53,404	56,668	56,668	55,051	51,550	54,160	61,895	61,895	65,377	62,645	61,135	66,196	66,196	71,159	91,803	88,736	88,736
Other liabilities	-	-	-	1,946	5,100	6,991	8,207	13,804	14,734	44,420	52,073	62,019	54,424	71,231	60,173	60,173	81,325	78,113	57,284	94,683	94,683	108,607	107,884	120,610	69,524	69,524	71,912	67,447	53,916	53,716	53,716	53,708	49,997	76,972	88,187	88,187	105,845	157,076	92,786	96,410	96,410	88,279	78,522	62,753	64,394	64,394	56,443	79,662	87,927	90,058	90,058	73,668	81,704	79,591	76,305	76,305	85,498	60,372	75,148	107,246	107,246	96,240	100,375	93,460	93,460
Total liabilities	32,619	47,408	58,793	73,447	84,015	101,775	105,807	403,142	412,006	745,368	992,638	1,168,481	1,079,644	1,269,887	1,232,492	1,232,492	1,243,878	1,522,303	1,510,578	1,559,245	1,559,245	1,527,750	1,473,757	1,528,460	1,472,119	1,472,119	1,527,589	1,790,613	1,739,979	1,673,382	1,673,382	1,949,564	2,135,657	2,374,078	2,153,376	2,153,376	2,165,247	2,229,934	2,123,801	2,560,749	2,560,749	2,555,911	2,573,398	2,467,128	2,531,111	2,531,111	2,475,798	2,552,852	2,543,338	2,466,652	2,466,652	2,412,251	2,486,513	2,407,568	2,418,671	2,418,671	2,430,234	2,452,898	2,415,023	2,531,590	2,531,590	2,518,866	2,618,338	2,508,803	2,508,803
Commitments and contingencies
Redeemable noncontrolling interests	-	-	-	-	-	-	-	-	-	11,160	57,738	65,120	64,833	64,871	65,301	65,301	64,949	41,824	42,604	45,412	45,412	83,841	85,478	87,805	86,151	86,151	91,426	53,371	52,366	63,182	63,182	65,507	68,201	69,682	69,106	69,106	71,209	65,510	64,250	71,120	71,120	79,593	84,783	119,834	131,483	131,483	129,909	12,565	11,974	10,893	10,893	10,848	13,392	12,140	22,998	22,998	23,962	18,710	19,871	19,057	19,057	18,370	6,057	70,204	70,204
Shareholders' equity (deficit):
Preferred shares, nominal value €0.01 per share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Ordinary shares, nominal value €0.01 per share	11	42	43	44	688	698	699	699	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	615	621	610	604	604	606	601	602	597	597	600	597	595	595
Deferred ordinary shares, nominal value €1.00 per share3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	28	28	28	28	28	28	28	28	28	28	28	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury shares, at cost	-	-	-	-	(29,881)	(29,637)	(85,377)	(378,941)	(398,301)	(423,101)	(412,132)	(547,448)	(546,879)	(550,766)	(548,549)	(548,549)	(549,499)	(598,343)	(597,000)	(588,365)	(588,365)	(627,002)	(638,414)	(675,536)	(685,577)	(685,577)	(685,801)	(696,499)	(708,140)	(737,447)	(737,447)	(969,833)	(1,275,057)	(1,377,022)	(1,376,496)	(1,376,496)	(1,368,723)	(1,368,723)	(1,368,721)	(1,368,595)	(1,368,595)	(1,365,079)	(1,364,336)	(1,363,956)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)	(1,363,550)
Series A redeemable convertible preferred shares	13,556	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Series B redeemable convertible preferred shares	57,880	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additional paid-in capital	2,679	146,354	170,029	191,271	212,221	249,153	273,260	285,633	299,659	309,990	324,281	324,370	327,968	335,272	335,192	335,192	339,929	348,732	358,170	361,376	361,376	366,684	378,121	390,758	395,682	395,682	403,005	396,648	403,989	411,079	411,079	415,984	424,058	404,409	438,616	438,616	433,827	438,863	448,432	459,904	459,904	464,938	476,002	488,149	501,003	501,003	509,444	521,531	528,983	539,454	539,454	543,754	560,019	561,930	570,283	570,283	573,192	576,881	585,090	592,315	592,315	599,916	608,023	612,691	612,691
Retained earnings	(41,017)	(23,077)	4,066	43,098	98,784	166,525	248,634	292,628	299,144	342,840	435,052	442,804	499,121	465,168	486,482	486,482	457,379	492,407	449,477	414,771	414,771	432,273	462,205	459,940	452,756	452,756	434,871	496,745	503,275	537,422	537,422	560,596	745,326	660,442	618,437	618,437	607,682	638,883	599,833	530,159	530,159	515,869	562,214	461,363	414,138	414,138	385,972	256,152	206,826	235,396	235,396	239,620	297,590	206,295	272,881	272,881	250,923	277,562	266,179	225,117	225,117	230,703	260,940	256,446	256,446
Accumulated other income (loss)	258	665	1,922	8,092	3,722	(10,625)	12,877	(10,732)	(11,556)	2,113	(98,909)	(110,653)	(123,158)	(98,864)	(108,015)	(108,015)	(101,249)	(143,915)	(126,858)	(113,398)	(113,398)	(88,325)	(83,093)	(82,476)	(69,814)	(69,814)	(70,586)	(69,322)	(70,802)	(79,857)	(79,857)	(82,964)	(75,494)	(92,805)	(88,676)	(88,676)	(87,856)	(74,597)	(84,975)	(71,482)	(71,482)	(67,187)	(57,327)	(49,623)	(47,128)	(47,128)	(40,141)	(28,059)	(35,291)	(35,060)	(35,060)	(34,622)	(47,223)	(41,303)	(30,364)	(30,364)	(32,160)	(45,962)	(45,836)	(37,969)	(37,969)	(38,925)	(36,739)	(30,283)	(30,283)
Total shareholders' equity (deficit) attributable to Cimpress plc	33,367	123,984	176,060	242,505	285,534	376,114	450,093	189,287	189,561	232,457	248,907	109,688	157,667	151,425	165,725	165,725	147,175	99,496	84,404	74,999	74,999	84,245	119,434	93,301	93,662	93,662	82,104	128,187	128,937	131,812	131,812	(75,602)	(180,524)	(404,333)	(407,476)	(407,476)	(414,427)	(364,931)	(404,788)	(449,371)	(449,371)	(450,816)	(382,804)	(463,452)	(494,922)	(494,922)	(507,660)	(613,311)	(662,417)	(623,145)	(623,145)	(614,183)	(552,543)	(636,018)	(550,146)	(550,146)	(570,989)	(554,468)	(557,515)	(583,490)	(583,490)	(571,256)	(530,729)	(524,101)	(524,101)
Noncontrolling interests	-	-	-	-	-	-	-	-	-	-	512	384	387	358	351	351	313	323	321	213	213	258	271	287	285	285	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	542	459	459	555	627	623	634	634	731	778	937	987	987	561	701	-	-
Total shareholders' equity (deficit)	33,367	123,984	176,060	242,505	285,534	376,114	450,093	189,287	189,561	232,457	249,419	110,072	158,054	151,783	166,076	166,076	147,488	99,819	84,725	75,212	75,212	84,503	119,705	93,588	93,947	93,947	82,104	128,187	128,937	131,812	131,812	(75,602)	(180,524)	(404,333)	(407,476)	(407,476)	(414,427)	(364,931)	(404,788)	(449,371)	(449,371)	(450,816)	(382,804)	(463,452)	(494,922)	(494,922)	(507,660)	(613,311)	(661,875)	(622,686)	(622,686)	(613,628)	(551,916)	(635,395)	(549,512)	(549,512)	(570,258)	(553,690)	(556,578)	(582,503)	(582,503)	(570,695)	(530,028)	(524,101)	(524,101)
Total liabilities, noncontrolling interests and shareholders' equity (deficit)	65,986	171,392	234,853	315,952	369,549	477,889	555,900	592,429	601,567	988,985	1,299,795	1,343,673	1,302,531	1,486,541	1,463,869	1,463,869	1,456,315	1,663,946	1,637,907	1,679,869	1,679,869	1,696,094	1,678,940	1,709,853	1,652,217	1,652,217	1,701,119	1,972,171	1,921,282	1,868,376	1,868,376	1,939,469	2,023,334	2,039,427	1,815,006	1,815,006	$1,822,029	$1,930,513	$1,783,263	$2,182,498	$2,182,498	$2,184,688	$2,275,377	$2,123,510	$2,167,672	$2,167,672	$2,098,047	$1,952,106	$1,893,437	$1,854,859	$1,854,859	$1,809,471	$1,947,989	$1,784,313	$1,892,157	$1,892,157	$1,883,938	$1,917,918	$1,878,316	$1,968,144	$1,968,144	$1,966,541	$2,094,367	$2,054,906	$2,054,906
1 Quarterly results are unaudited and when added together may not equal annual results due to rounding.
2 During Q1 FY2020, we adopted the new lease accounting standard, ASC 842. Before adopting this new standard, operating leases were recognized in the consolidated statement of operations on a straight-line basis over the term of the lease, with impacts of straight-line accounting recognized in other assets and liabilities on the consolidated balance sheet. Beginning in Q1 FY2020, we have recognized operating lease assets and liabilities on the consolidated balance sheet, which replaced the impact of straight-line accounting in other assets and liabilities.
3 In conjunction with the cross-border merger to Ireland, 25,000 Cimpress plc deferred ordinary shares were issued to meet the statutory minimum capital requirements of an Irish public limited company. These deferred ordinary shares will not dilute the economic ownership of Cimpress plc shareholders as they have no voting rights, and do not entitle the holders to dividends or distributions, or to participate in surplus assets beyond the nominal value of the shares.

Debt-Related Metrics

Debt-Related Metrics In $ thousands except where noted
	FY 2011	FY 2012	FY 2013	FY 2014	FY 2015	FY 2016	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	Total	Total	Total	Total	Total	Total	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
NET CASH (DEBT):
Cash and cash equivalents	$236,552	$62,203	$50,065	$62,508	$103,584	$77,426	$25,697	$42,800	$40,064	$49,878	$44,227	$44,227	$48,068	$48,264	$44,258	$35,279	$35,279	$31,234	$36,917	$228,265	$45,021	$45,021	$40,229	$36,883	$36,364	$183,023	$183,023	$193,231	$231,159	$161,512	$277,053	$277,053	$132,100	$111,279	$114,990	$130,313	$130,313	$125,199	$274,208	$154,338	$203,775	$203,775	$152,951	$224,429	$182,997	$233,982	$233,982	$200,505	$258,038	$188,998	$188,998
Plus: marketable securities (current)	529	-	-	13,857	6,910	7,893	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	152,248	152,248	152,028	147,199	95,637	49,952	49,952	101,726	85,070	68,305	38,540	38,540	22,613	17,239	6,499	4,500	4,500	-	-	-	-	-	-	-	-	-
Plus: marketable securities (non-current)	-	-	-	-	-	-	-	-	-	-	-		-	-	-	-	-	-	-	-	-		-	-	-	50,713	50,713	40,400	27,693	12,116	-	-	22,449	17,107	6,466	4,497	4,497	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Short-term debt	-	-	(8,750)	(37,575)	(21,057)	(21,717)	(28,926)	(19,941)	(35,569)	(26,214)	(59,259)	(59,259)	(39,806)	(46,549)	(64,516)	(81,277)	(81,277)	(63,136)	(73,755)	(24,364)	(17,933)	(17,933)	(22,666)	(12,603)	(9,012)	(9,895)	(9,895)	(11,373)	(11,217)	(10,922)	(10,386)	(10,386)	(9,900)	(10,218)	(10,696)	(10,713)	(10,713)	(10,877)	(11,083)	(10,935)	(12,488)	(12,488)	(10,532)	(9,625)	(9,182)	(9,085)	(9,085)	(8,982)	(13,522)	(13,834)	(13,834)
Less: Long-term debt	-	(227,387)	(227,037)	(406,994)	(493,039)	(656,794)	(847,730)	(800,860)	(664,961)	(786,401)	(767,585)	(767,585)	(823,836)	(1,001,900)	(1,010,599)	(942,290)	(942,290)	(1,164,696)	(1,296,535)	(1,647,214)	(1,415,657)	(1,415,657)	(1,331,549)	(1,258,535)	(1,332,234)	(1,732,511)	(1,732,511)	(1,718,311)	(1,707,052)	(1,699,434)	(1,675,562)	(1,675,562)	(1,654,529)	(1,679,059)	(1,682,658)	(1,627,243)	(1,627,243)	(1,594,942)	(1,600,942)	(1,590,676)	(1,591,807)	(1,591,807)	(1,585,650)	(1,579,213)	(1,578,050)	(1,576,178)	(1,576,178)	(1,573,862)	(1,577,583)	(1,575,097)	(1,575,097)
Less: Debt issuance costs, debt discounts and debt premiums	-	(1,613)	(2,963)	(3,490)	(8,940)	(7,386)	(5,922)	(8,488)	(8,030)	(7,567)	(12,585)	(12,585)	(12,526)	(11,872)	(12,488)	(12,018)	(12,018)	(11,390)	(10,773)	(5,912)	(48,587)	(48,587)	(46,572)	(44,234)	(42,883)	(22,450)	(22,450)	(21,850)	(21,158)	(20,294)	(19,417)	(19,417)	(18,548)	(17,695)	(16,833)	(16,033)	(16,033)	(15,182)	(14,300)	(13,426)	(12,312)	(12,312)	(21,275)	(21,625)	(20,496)	(19,250)	(19,250)	(18,026)	(16,802)	(15,572)	(15,572)
Net cash (debt)	$237,081	($166,797)	($188,685)	($371,694)	($412,542)	($600,578)	($856,881)	($786,489)	($668,496)	($770,304)	($795,202)	($795,202)	($828,100)	($1,012,057)	($1,043,345)	($1,000,306)	($1,000,306)	($1,207,988)	($1,344,146)	($1,449,225)	($1,437,156)	($1,437,156)	($1,360,558)	($1,278,489)	($1,347,765)	($1,378,872)	($1,378,872)	($1,365,875)	($1,333,376)	($1,461,385)	($1,378,360)	($1,378,360)	($1,426,702)	($1,493,516)	($1,520,426)	($1,480,639)	($1,480,639)	($1,473,189)	($1,334,878)	($1,454,200)	($1,408,332)	($1,408,332)	($1,464,506)	($1,386,034)	($1,424,731)	($1,370,531)	($1,370,531)	($1,400,365)	($1,349,869)	($1,415,505)	($1,415,505)
DEBT COMPONENTS:
High Yield Notes	N/A	N/A	N/A	N/A	($275,000)	($275,000)	($275,000)	($275,000)	($275,000)	($275,000)	($400,000)	($400,000)	($400,000)	($400,000)	($400,000)	($400,000)	($400,000)	($400,000)	($400,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($600,000)	($548,300)	($548,300)	($527,135)	($522,135)	($522,135)	($522,135)	($522,135)	($525,000)	($525,000)	($525,000)	($525,000)	($525,000)	($525,000)	($525,000)	($525,000)	($525,000)
Term Loans	N/A	N/A	(98,750)	(153,859)	(154,000)	(140,000)	(124,000)	(296,250)	(292,500)	(288,750)	(285,000)	(285,000)	(279,375)	(273,750)	(515,562)	(505,209)	(505,209)	(491,405)	(477,600)	(452,010)	(148,125)	(148,125)	(146,250)	(144,375)	(142,500)	(1,152,021)	(1,152,021)	(1,140,187)	(1,128,999)	(1,121,365)	(1,097,302)	(1,097,302)	(1,076,279)	(1,100,238)	(1,102,509)	(1,098,613)	(1,098,613)	(1,087,383)	(1,098,366)	(1,088,140)	(1,084,627)	(1,084,627)	(1,083,880)	(1,078,222)	(1,075,520)	(1,072,818)	(1,072,818)	(1,070,116)	(1,067,413)	(1,064,711)	(1,064,711)
2nd Lien Debt	N/A	N/A	N/A	N/A	$-	$-	$-	-	-	-	-	-	-	-	-	-	-	-	-	-	(300,000)	(300,000)	(300,000)	(300,000)	(300,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revolving Credit Facility (Drawn Amounts)	N/A	(229,000)	(140,000)	(294,200)	(77,507)	(260,809)	(476,037)	(249,793)	(133,007)	(248,526)	(147,414)	(147,414)	(191,059)	(376,357)	(156,352)	(116,015)	(116,015)	(331,276)	(488,076)	(611,826)	(422,358)	(422,358)	(343,517)	(260,000)	(329,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other debt	N/A	N/A	N/A	N/A	(11,500)	(10,088)	(7,541)	(8,246)	(8,053)	(7,906)	(7,015)	(7,015)	(5,734)	(10,214)	(15,689)	(14,361)	(14,361)	(16,541)	(15,387)	(13,654)	(11,694)	(11,694)	(11,020)	(10,997)	(12,629)	(12,835)	(12,835)	(11,347)	(10,428)	(9,285)	(8,063)	(8,063)	(6,698)	(6,734)	(7,678)	(7,076)	(7,076)	(6,483)	(5,824)	(4,762)	(9,845)	(9,845)	(8,577)	(7,241)	(7,208)	(6,695)	(6,695)	(5,754)	(15,494)	(14,792)	(14,792)
LEVERAGE RATIOS AS DEFINED BY OUR CREDIT AGREEMENT:
Reference: TTM Adjusted EBITDA						$282,767	$238,399	$249,151	$289,236	$307,724	$326,141	$326,141	$322,757	$326,821	$347,021	$386,547	$386,547	$423,606	$471,052	$453,103	$399,779	$399,779	$408,736	$366,642	$350,758	$349,118	$349,118	$328,261	$326,906	$305,508	$281,063	$281,063	$259,042	$228,156	$263,675	$339,832	$339,832	$382,973	$438,225	$463,238	$468,682	$468,682	$467,717	$433,537	$430,079	$433,167	$433,167	$444,111	$450,700	$460,525	$460,525
Other adjustments, net as specified in our credit agreement						15,830	35,108	15,017	6,252	6,727	(6,193)	(6,193)	7,089	16,601	9,547	5,442	5,442	4,702	5,343	51,837	28,872	28,872	22,367	35,857	23,555	35,214	35,214	37,635	25,958	28,383	49,800	49,800	41,226	47,086	58,491	49,997	49,997	47,240	40,612	32,722	17,092	17,092	10,696	20,894	16,180	16,912	16,912	14,479	18,953	24,762	24,762
Consolidated EBITDA as defined by our credit agreement						298,597	273,507	264,168	295,488	314,451	319,948	319,948	329,846	343,422	356,568	391,989	391,989	428,308	476,395	504,940	428,651	428,651	431,103	402,499	374,313	384,332	384,332	365,896	352,864	333,891	330,863	330,863	300,268	275,242	322,166	389,829	389,829	430,213	478,837	495,960	485,774	485,774	478,413	454,431	446,259	450,079	450,079	458,590	469,653	485,287	485,287
Adjusted Net Debt as specificed by our credit agreement						$629,940	$922,457	$866,472	$742,562	$852,161	$867,059	$867,059	$903,778	$1,088,648	$1,116,743	$1,062,290	$1,062,290	$1,263,509	$1,410,131	$1,476,418	$1,508,849	$1,508,849	$1,426,949	$1,340,319	$1,411,161	$1,429,714	$1,429,714	$1,414,543	$1,357,581	$1,483,215	$1,399,743	$1,399,743	$1,447,824	$1,520,648	$1,557,545	$1,520,399	$1,520,399	$1,510,986	$1,375,051	$1,491,735	$1,444,692	$1,444,692	$1,499,796	$1,417,950	$1,457,565	$1,404,153	$1,404,153	$1,434,029	$1,392,779	$1,459,431	$1,459,431
Consolidated Net Leverage Ratio						2.11	3.37	3.28	2.51	2.71	2.71	2.71	2.74	3.17	3.13	2.71	2.71	2.95	2.96	2.92	3.52	3.52	3.31	3.33	3.77	3.72	3.72	3.87	3.85	4.44	4.23	4.23	4.82	5.52	4.83	3.90	3.90	3.51	2.87	3.01	2.97	2.97	3.13	3.12	3.27	3.12	3.12	3.13	2.97	3.01	3.01
Adjusted First Lien Debt as specificed by our credit agreement						$354,940	$647,457	$591,472	$467,562	$577,161	$467,059	$467,059	$503,778	$688,648	$716,743	$662,290	$662,290	$863,509	$1,010,131	$876,418	$908,849	$908,849	$826,949	$740,319	$811,161	$829,714	$829,714	$814,543	$757,581	$883,215	$799,743	$799,743	$847,824	$920,648	$957,545	$972,099	$972,099	$983,851	$852,916	$969,600	$922,557	$922,557	$974,796	$892,950	$932,565	$879,153	$879,153	$909,029	$867,779	$934,431	$934,431
Senior Secured Net Leverage Ratio						1.19	2.37	2.24	1.58	1.84	1.46	1.46	1.53	2.01	2.01	1.69	1.69	2.02	2.12	1.74	2.12	2.12	1.92	1.84	2.17	2.16	2.16	2.23	2.15	2.65	2.42	2.42	2.82	3.34	2.97	2.49	2.49	2.29	1.78	1.95	1.90	1.90	2.04	1.96	2.09	1.95	1.95	1.98	1.85	1.93	1.93
Note: values may not sum to total due to rounding.

Operating Metrics

Operating Metrics1 In $ thousands except headcount and where noted
	Q1 17	Q2 17	Q3 17	Q4 17	FY 2017	Q1 18	Q2 18	Q3 18	Q4 18	FY 2018	Q1 19	Q2 19	Q3 19	Q4 19	FY 2019	Q1 20	Q2 20	Q3 20	Q4 20	FY 2020	Q1 21	Q2 21	Q3 21	Q4 21	FY 2021	Q1 22	Q2 22	Q3 22	Q4 22	FY 2022	Q1 23	Q2 23	Q3 23	Q4 23	FY 2023	Q1 24	Q2 24	Q3 24	Q4 24	FY 2024	Q1 25	Q2 25	Q3 25	Q4 25	FY 2025	Q1 26	Q2 26	Q3 26	YTD FY2026
	(Sep 16)	(Dec 16)	(Mar 17)	(Jun 17)	Total	(Sep 17)	(Dec 17)	(Mar 18)	(Jun 18)	Total	(Sep 18)	(Dec 18)	(Mar 19)	(Jun 19)	Total	(Sep 19)	(Dec 19)	(Mar 20)	(Jun 20)	Total	(Sep 20)	(Dec 20)	(Mar 21)	(Jun 21)	Total	(Sep 21)	(Dec 21)	(Mar 22)	(Jun 22)	Total	(Sep 22)	(Dec 22)	(Mar 23)	(Jun 23)	Total	(Sep 23)	(Dec 23)	(Mar 24)	(Jun 24)	Total	(Sep 24)	(Dec 24)	(Mar 25)	(Jun 25)	Total	(Sep 25)	(Dec 25)	(Mar 26)	Total
REVENUE METRICS4:
U.S. revenue	N/A	N/A	N/A	N/A	$901,061	N/A	N/A	N/A	N/A	$1,078,544	N/A	N/A	N/A	N/A	$1,361,438	N/A	N/A	N/A	N/A	$1,251,531	N/A	N/A	N/A	N/A	$1,226,606	N/A	N/A	N/A	N/A	$1,320,347	N/A	N/A	N/A	N/A	$1,407,691	N/A	N/A	N/A	N/A	$1,467,785	N/A	N/A	N/A	N/A	$1,488,112	N/A	N/A	N/A	N/A
Germany revenue	N/A	N/A	N/A	N/A	$256,069	N/A	N/A	N/A	N/A	$340,881	N/A	N/A	N/A	N/A	$367,375	N/A	N/A	N/A	N/A	$351,348	N/A	N/A	N/A	N/A	$353,253	N/A	N/A	N/A	N/A	$420,041	N/A	N/A	N/A	N/A	$460,516	N/A	N/A	N/A	N/A	$532,537	N/A	N/A	N/A	N/A	$560,173	N/A	N/A	N/A	N/A
Other revenue	N/A	N/A	N/A	N/A	$978,275	N/A	N/A	N/A	N/A	$1,173,116	N/A	N/A	N/A	N/A	$1,022,263	N/A	N/A	N/A	N/A	$878,479	N/A	N/A	N/A	N/A	$996,102	N/A	N/A	N/A	N/A	$1,147,167	N/A	N/A	N/A	N/A	$1,211,420	N/A	N/A	N/A	N/A	$1,291,534	N/A	N/A	N/A	N/A	$1,354,794	N/A	N/A	N/A	N/A
Physical printed products and other	N/A	N/A	N/A	N/A	$2,076,564	N/A	N/A	N/A	N/A	$2,537,201	N/A	N/A	N/A	N/A	$2,700,167	N/A	N/A	N/A	N/A	$2,431,367	N/A	N/A	N/A	N/A	$2,477,158	N/A	N/A	N/A	N/A	$2,789,600	N/A	N/A	N/A	N/A	$2,990,041	N/A	N/A	N/A	N/A	$3,207,102	N/A	N/A	N/A	N/A	$3,328,806	N/A	N/A	N/A	N/A
Digital products/services	N/A	N/A	N/A	N/A	$58,841	N/A	N/A	N/A	N/A	$55,340	N/A	N/A	N/A	N/A	$50,909	N/A	N/A	N/A	N/A	$49,991	N/A	N/A	N/A	N/A	$98,803	N/A	N/A	N/A	N/A	$97,955	N/A	N/A	N/A	N/A	$89,586	N/A	N/A	N/A	N/A	$84,754	N/A	N/A	N/A	N/A	$74,273	N/A	N/A	N/A	N/A
CONSOLIDATED ADVERTISING SPEND:
Total advertising & commissions expense ($ millions)	$78.3	$94.1	$100.4	$91.1	$363.9	$95.8	$129.2	$108.4	$99.1	$432.5	$112.0	$136.9	$98.1	$80.7	$427.7	$93.1	$96.7	$77.1	$35.6	$302.5	$68.9	$99.9	$77.3	$87.5	$333.6	$88.1	$111.2	$96.7	$112.7	$408.6	$108.8	$116.2	$97.5	$95.4	$417.9	$107.7	$122.9	$101.9	$103.9	$436.5	$114.0	$131.2	$103.1	$98.1	$446.3	$115.8	$144.0	$106.4	$366.2
as % of revenue	18.0 %	16.3 %	18.0 %	16.0 %	17.0 %	17.0 %	17.0 %	17.0 %	16.0 %	17.0 %	19.0 %	16.6 %	14.8 %	12.0 %	16.0 %	15.0 %	12.0 %	13.0 %	8.0 %	12.0 %	11.8 %	12.7 %	13.4 %	13.6 %	13.0 %	13.4 %	13.1 %	14.7 %	15.6 %	14.0 %	15.5 %	13.8 %	13.1 %	12.1 %	13.6 %	14.2 %	13.3 %	13.1 %	12.5 %	13.3 %	14.2 %	14.0 %	13.1 %	11.3 %	13.1 %	13.4 %	13.8 %	12.0 %	13.1 %
Total advertising & payment processing fees ($ millions)2	$86.4	$103.6	$109.4	$99.4	$398.8	$105.0	$140.8	$118.5	$108.8	$473.1	$123.4	$147.8	$108.7	$91.5	$471.4	$103.5	$109.6	$86.9	$43.8	$343.8	$79.2	$113.8	$87.8	$99.1	$379.9	$100.1	$126.5	$109.0	$126.0	$461.6	$121.6	$131.0	$111.1	$109.6	$473.3	$122.0	$139.3	$116.4	$118.5	$496.3	$128.3	$147.3	$117.2	$113.3	$506.1	$131.3	$161.4	$122.3	$415.0
CONTRIBUTION PROFIT & CONTRIBUTION MARGIN
Reported revenue	$443,713	$576,851	$550,585	$564,256	$2,135,405	$563,284	$762,054	$636,069	$631,134	$2,592,541	$588,981	$825,567	$661,814	$674,714	$2,751,076	$633,959	$820,333	$597,960	$429,106	$2,481,358	$586,500	$780,904	$573,362	$635,195	$2,575,961	$657,599	$849,716	$657,412	$722,828	$2,887,555	$703,415	$845,202	$742,164	$788,846	$3,079,627	$757,294	$921,363	$780,588	$832,611	$3,291,856	$804,969	$939,159	$789,468	$869,483	$3,403,079	$863,277	$1,042,202	$886,209	$2,791,688
Less: Cost of revenue	(213,050)	(276,366)	(268,482)	(279,077)	(1,036,975)	(283,755)	(360,285)	(319,209)	(316,550)	(1,279,799)	(302,471)	(411,496)	(342,700)	(344,677)	(1,401,344)	(325,665)	(394,018)	(309,598)	(219,590)	(1,248,871)	(298,844)	(380,738)	(296,533)	(323,774)	(1,299,889)	(338,989)	(423,937)	(347,452)	(382,348)	(1,492,726)	(377,735)	(455,393)	(394,908)	(412,589)	(1,640,625)	(398,783)	(463,423)	(404,668)	(428,188)	(1,695,062)	(422,736)	(489,256)	(416,960)	(456,683)	(1,785,635)	(460,476)	(554,484)	(477,012)	(1,491,972)
Gross profit	230,663	300,485	282,103	285,179	1,098,430	279,529	401,769	316,860	314,584	1,312,742	286,510	414,071	319,114	330,037	1,349,732	308,294	426,315	288,362	209,516	1,232,487	287,656	400,166	276,829	311,421	1,276,072	318,610	425,779	309,960	340,480	1,394,829	325,680	389,809	347,256	376,257	1,439,002	358,511	457,940	375,920	404,423	1,596,794	382,233	449,903	372,508	412,800	1,617,444	402,801	487,718	409,197	1,299,716
Less: Advertising and payment processing fees	(86,384)	(103,558)	(109,397)	(99,446)	(398,800)	(105,001)	(140,754)	(118,493)	(108,800)	(473,100)	(123,400)	(147,800)	(108,724)	(91,500)	(471,400)	(103,500)	(109,600)	(86,900)	(43,800)	(343,800)	(79,249)	(113,805)	(87,836)	(99,134)	(379,900)	(100,050)	(126,502)	(109,041)	(125,960)	(461,600)	(121,632)	(130,951)	(111,142)	(109,585)	(473,310)	(122,047)	(139,340)	(116,371)	(118,530)	(496,288)	(128,324)	(147,273)	(117,249)	(113,268)	(506,114)	(131,270)	(161,364)	(122,333)	(414,967)
Contribution profit	144,279	196,927	172,706	185,733	699,630	174,528	261,015	198,367	205,784	839,642	163,110	266,271	210,390	238,537	878,332	204,794	316,715	201,462	165,716	888,687	208,407	286,361	188,993	212,287	896,172	218,560	299,277	200,919	214,520	933,229	204,048	258,858	236,114	266,672	965,692	236,464	318,600	259,549	285,893	1,100,506	253,909	302,630	255,259	299,532	1,111,330	271,531	326,354	286,864	884,749
as % of revenue	32.5 %	34.1 %	31.4 %	32.9 %	32.8 %	31.0 %	34.3 %	31.2 %	32.6 %	32.4 %	27.7 %	32.3 %	31.8 %	35.4 %	31.9 %	32.3 %	38.6 %	33.7 %	38.6 %	35.8 %	35.5 %	36.7 %	33.0 %	33.4 %	34.8 %	33.2 %	35.2 %	30.6 %	29.7 %	32.3 %	29.0 %	30.6 %	31.8 %	33.8 %	31.4 %	31.2 %	34.6 %	33.3 %	34.3 %	33.4 %	31.5 %	32.2 %	32.3 %	34.4 %	32.7 %	31.5 %	31.3 %	32.4 %	31.7 %
VISTAPRINT ADVERTISING SPEND:
VistaPrint lower-funnel advertising spend ($M)																					$35.2	$62.4	$36.9	$45.8	$180.3	$44.9	$69.4	$51.3	$63.6	$229.3	$49.5	$56.6	$47.2	$42.1	$195.4	$46.5	$55.2	$47.6	$51.1	$200.3	$48.4	$62.5	$48.7	$54.7	$214.2	$52.3	$71.2	$52.1	$175.6
as % of VistaPrint revenue																					10.7 %	14.5 %	11.5 %	13.3 %	12.6 %	12.9 %	15.5 %	14.7 %	17.3 %	15.1 %	13.4 %	12.9 %	11.9 %	10.3 %	12.1 %	11.7 %	11.4 %	11.4 %	11.5 %	11.5 %	11.3 %	12.6 %	11.3 %	11.7 %	11.7 %	11.5 %	13.4 %	11.3 %	12.1 %
VistaPrint mid/upper-funnel advertising spend ($M)																					$0.0	$4.3	$7.8	$14.0	$26.2	$3.2	$3.7	$10.2	$17.3	$34.4	$18.6	$20.0	$10.2	$18.3	$67.1	$11.5	$24.7	$15.2	$19.5	$70.8	$16.8	$23.8	$15.3	$8.3	$64.1	$14.2	$22.3	$14.4	$50.9
as % of VistaPrint revenue																					- %	1.0 %	2.4 %	4.0 %	1.8 %	0.9 %	0.8 %	2.9 %	4.7 %	2.3 %	5.0 %	4.6 %	2.6 %	4.5 %	4.2 %	2.9 %	5.1 %	3.6 %	4.4 %	4.1 %	3.9 %	4.8 %	3.5 %	1.8 %	3.5 %	3.1 %	4.2 %	3.1 %	3.5 %
Total VistaPrint advertising & commissions expense ($ millions)	$69.8	$81.6	$75.2	$70.4	$296.9	$74.9	$90.7	$78.5	$78.3	$322.4	$74.1	$91.8	$62.0	$53.7	$281.6	$52.5	$61.0	$44.9	$18.9	$177.3	$35.2	$66.7	$44.7	$59.9	$206.5	$48.1	$73.1	$61.5	$80.9	$263.6	$68.1	$76.6	$57.4	$60.4	$262.5	$57.9	$79.8	$62.8	$70.5	$271.1	$65.1	$86.3	$63.9	$62.9	$278.3	$66.5	$93.5	$66.5	$226.5
as % of VistaPrint revenue	23.7 %	20.8 %	22.7 %	21.3 %	22.1 %	23.0 %	20.6 %	21.4 %	21.3 %	21.5 %	21.5 %	20.7 %	17.3 %	14.9 %	18.7 %	15.3 %	14.1 %	14.2 %	7.7 %	13.3 %	10.7 %	15.5 %	13.9 %	17.3 %	14.5 %	13.8 %	16.3 %	17.6 %	22.0 %	17.4 %	18.4 %	17.5 %	14.5 %	14.7 %	16.3 %	14.6 %	16.4 %	15.0 %	16.0 %	15.6 %	15.2 %	17.3 %	14.8 %	13.5 %	15.3 %	14.6 %	17.6 %	14.4 %	15.6 %
VISTAPRINT VGP PER CUSTOMER:
VistaPrint variable gross profit per customer at reported currency rates3																					$58.28	$57.36	$57.33	$63.80	$75.38	$66.55	$63.45	$63.56	$66.01	$83.56	$71.01	$59.47	$70.86	$77.73	$88.04	$74.87	$67.16	$73.85	$81.10	$93.71	$79.82	$69.57	$76.30	$86.11	$98.40	$85.32	$75.90	$86.40	N/A
y/y growth																					N/A	N/A	N/A	N/A	N/A	14.2 %	10.6 %	10.9 %	3.5 %	10.9 %	6.7 %	(6.3)%	11.5 %	17.8 %	5.4 %	5.4 %	12.9 %	4.2 %	4.3 %	6.4 %	6.6 %	3.6 %	3.3 %	6.2 %	5.0 %	6.9 %	9.1 %	13.2 %	N/A
EMPLOYEE HEADCOUNT:
Full-time employees	8,066	9,923	10,323	10,704	10,704	10,892	10,864	10,868	10,814	10,814	11,659	11,986	12,042	12,123	12,123	12,217	12,328	11,710	11,880	11,880	11,695	12,312	12,428	13,064	13,064	13,476	14,322	14,685	15,077	15,077	14,864	15,111	14,867	14,734	14,734	14,711	14,927	14,821	15,042	15,042	15,361	15,305	15,371	15,381	15,381	15,837	16,161	16,153	16,153
Temporary employees	456	1,389	586	935	935	1,948	1,953	1,205	1,212	1,212	2,251	2,208	1,411	1,391	1,391	2,092	2,184	839	1,074	1,074	1,540	2,495	1,364	1,404	1,404	2,238	2,018	1,537	1,474	1,474	1,658	1,669	974	817	817	1,083	707	960	594	594	765	553	544	481	481	598	611	532	532
Total Cimpress headcount at end of period	8,522	11,312	10,909	11,639	11,639	12,840	12,817	12,073	12,026	12,026	13,910	14,194	13,453	13,514	13,514	14,309	14,512	12,550	12,954	12,954	13,235	14,807	13,792	14,468	14,468	15,714	16,340	16,222	16,551	16,551	16,522	16,780	15,841	15,551	15,551	15,794	15,634	15,781	15,636	15,636	16,126	15,858	15,915	15,862	15,862	16,435	16,772	16,685	16,685
1 Metrics are unaudited, approximate, and when added together may not equal annual results due to rounding.
2 Total advertising and payment processing fees includes the Total advertising and commissions expense above, as well as the fees associated with processing customer payments. This number is used to calculate "contribution margin" included on the income statement tab of this spreadsheet.
3 VistaPrint variable gross profit per customer at reported currency rates is VistaPrint revenue less variable cost of revenue (excludes revenue and variable cost of revenue from Vista Corporate Solutions, 99designs and VistaCreate), stated at actual currency rates for each period presented, divided by the total number of VistaPrint unique customers in that period (excludes customers from Vista Corporate Solutions, 99designs and VistaCreate if they were not also a VistaPrint customer in that period.
Note: values may not sum to total due to rounding.

Cimpress plc published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2026 at 20:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]