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Segment Information
6 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information
Our operating segments are based upon the manner in which our operations are managed and the availability of separate financial information reported internally to the Chief Executive Officer, who is our Chief Operating Decision Maker (“CODM”) for purposes of making decisions about how to allocate resources and assess performance.
As of December 31, 2021, we have numerous operating segments under our management reporting structure which are reported in the following five reportable segments:
Vista - Vista is the parent brand of multiple offerings including VistaPrint, VistaCreate, 99designs by Vista, and Vista Corporate Solutions, which together represent a full-service design, digital and print solution, elevating small businesses’ presence in physical and digital spaces and empowering them to achieve success. This segment also includes our recently acquired Depositphotos business, whose subsidiary, Crello, was rebranded to VistaCreate during the current quarter.
PrintBrothers - Includes the results of our druck.at, Printdeal, and WIRmachenDRUCK businesses.
The Print Group - Includes the results of our Easyflyer, Exaprint, Pixartprinting, and Tradeprint businesses.
National Pen - Includes the global operations of our National Pen business, which manufactures and markets custom writing instruments and promotional products, apparel and gifts.
All Other Businesses - Includes a collection of businesses grouped together based on materiality. In addition to BuildASign, which is a larger and profitable business, the All Other Businesses reportable segment consists of two smaller businesses that we continue to manage at a relatively modest operating loss and a recently acquired company that provides production expertise and sells into a growing product category.
BuildASign is an internet-based provider of canvas-print wall décor, business signage and other large-format printed products, based in Austin, Texas. In the fourth quarter of fiscal year 2021, we closed a small acquisition under BuildASign in a new product category.
Printi is an online printing leader in Brazil, which offers a superior customer experience with transparent and attractive pricing, reliable service and quality.
YSD is a startup operation that provides end-to-end mass customization solutions to brands and intellectual property owners in China, supporting multiple channels including retail stores, websites, WeChat and e-commerce platforms to enhance brand awareness and competitiveness and develop new markets.
Central and corporate costs consist primarily of the team of software engineers that is building our mass customization platform; shared service organizations such as global procurement; technology services such as hosting and security; administrative costs of our Cimpress India offices where numerous Cimpress businesses have dedicated business-specific team members; and corporate functions including our Board of Directors, CEO, and the team members necessary for managing corporate activities, such as treasury, tax, capital allocation, financial consolidation, internal audit and legal. These costs also include certain unallocated share-based compensation costs.
The expense value of our PSU awards is based on a Monte Carlo fair value analysis and is required to be expensed on an accelerated basis. In order to ensure comparability in measuring our businesses' results, we allocate the straight-line portion of the fixed grant value to our businesses. Any expense in excess of the amount as a result of the fair value measurement of the PSUs and the accelerated expense profile of the awards is recognized within central and corporate costs.
Our definition of segment EBITDA is GAAP operating income excluding certain items, such as depreciation and amortization, expense recognized for contingent earn-out related charges including the changes in fair value of contingent consideration and compensation expense related to cash-based earn-out mechanisms dependent upon continued employment, share-based compensation related to investment consideration, certain impairment expense, and restructuring charges. We include insurance proceeds that are not recognized within operating income. We do not allocate non-operating income, including realized gains and losses on currency hedges, to our segment results.
Our balance sheet information is not presented to the CODM on an allocated basis, and therefore we do not present asset information by segment. We do present other segment information to the CODM, which includes purchases of property, plant and equipment and capitalization of software and website development costs, and therefore include that information in the tables below.
Revenue by segment is based on the business-specific websites or sales channel through which the customer’s order was transacted. The following tables set forth revenue by reportable segment, as well as disaggregation of revenue by major geographic region and reportable segment.
 Three Months Ended December 31, Six Months Ended December 31,
 2021202020212020
Revenue:
Vista (1)$448,114 $431,076 $797,594 $760,367 
PrintBrothers137,694 121,806 263,051 221,918 
The Print Group90,130 76,204 162,950 142,641 
National Pen124,717 114,692 193,981 182,341 
All Other Businesses57,719 55,365 105,590 98,843 
Total segment revenue858,374 799,143 1,523,166 1,406,110 
Inter-segment eliminations (2)(8,658)(18,239)(15,851)(38,706)
Total consolidated revenue$849,716 $780,904 $1,507,315 $1,367,404 
_____________________
(1) During the first quarter of fiscal year 2022, we identified an immaterial error and revised our previously reported results to decrease Vista segment revenue by $5,241 for the three and six months ended December 31, 2020. Refer to Note 2 for additional details.
(2) Refer to the "Revenue by Geographic Region" tables below for detail of the inter-segment revenue within each respective segment. The decrease of inter-segment eliminations is the result of significant cross-business transactions during the three and six months ended December 31, 2021 associated with the fulfillment of masks in response to the pandemic. Demand for this product was far lower in the current periods.
Three Months Ended December 31, 2021
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$289,615 $— $— $57,976 $51,035 $398,626 
Europe117,627 137,173 87,596 53,797 — 396,193 
Other39,767 — — 9,229 5,901 54,897 
Inter-segment1,105 521 2,534 3,715 783 8,658 
   Total segment revenue448,114 137,694 90,130 124,717 57,719 858,374 
Less: inter-segment elimination(1,105)(521)(2,534)(3,715)(783)(8,658)
Total external revenue$447,009 $137,173 $87,596 $121,002 $56,936 $849,716 

Six Months Ended December 31, 2021
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$534,064 $— $— $99,014 $92,343 $725,421 
Europe189,160 262,301 158,751 74,648 — 684,860 
Other72,563 — — 12,762 11,709 97,034 
Inter-segment1,807 750 4,199 7,557 1,538 15,851 
   Total segment revenue797,594 263,051 162,950 193,981 105,590 1,523,166 
Less: inter-segment elimination(1,807)(750)(4,199)(7,557)(1,538)(15,851)
Total external revenue$795,787 $262,301 $158,751 $186,424 $104,052 $1,507,315 

Three Months Ended December 31, 2020
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$268,736 $— $— $48,678 $49,662 $367,076 
Europe126,877 121,564 69,343 47,578 — 365,362 
Other34,792 — — 8,699 4,975 48,466 
Inter-segment671 242 6,861 9,737 728 18,239 
   Total segment revenue431,076 121,806 76,204 114,692 55,365 799,143 
Less: inter-segment elimination(671)(242)(6,861)(9,737)(728)(18,239)
Total external revenue$430,405 $121,564 $69,343 $104,955 $54,637 $780,904 
Six Months Ended December 31, 2020
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$500,831 $— $— $78,999 $88,606 $668,436 
Europe204,125 221,505 129,721 68,182 — 623,533 
Other54,318 — — 12,347 8,770 75,435 
Inter-segment1,093 413 12,920 22,813 1,467 38,706 
   Total segment revenue760,367 221,918 142,641 182,341 98,843 1,406,110 
Less: inter-segment elimination(1,093)(413)(12,920)(22,813)(1,467)(38,706)
Total external revenue$759,274 $221,505 $129,721 $159,528 $97,376 $1,367,404 
The following table includes segment EBITDA by reportable segment, total income from operations and total income before income taxes:
 Three Months Ended December 31, Six Months Ended December 31,
 2021202020212020
Segment EBITDA:
Vista$92,689 $112,331 $160,728 $202,488 
PrintBrothers18,605 16,457 34,888 26,172 
The Print Group16,358 12,569 30,747 24,752 
National Pen31,599 18,728 23,551 8,057 
All Other Businesses6,264 10,657 11,155 19,266 
Total segment EBITDA165,515 170,742 261,069 280,735 
Central and corporate costs(36,626)(30,984)(71,898)(62,004)
Depreciation and amortization(45,314)(43,597)(89,746)(85,887)
Certain impairments and other adjustments (1)2,713 215 3,493 (568)
Restructuring-related charges(307)(2,182)(2,096)
Total income from operations85,981 94,194 102,920 130,180 
Other income (expense), net12,839 (17,198)26,009 (25,952)
Interest expense, net(25,369)(30,141)(51,057)(60,657)
Income before income taxes$73,451 $46,855 $77,872 $43,571 
________________________
(1) During the three and six months ended December 31, 2021, we recognized a gain of $3,324 for the sale of a facility within general and administrative expense on our consolidated statement of operations. This gain is excluded from segment EBITDA and is therefore included as a positive adjustment to reconcile total segment EBITDA to income from operations. Refer to Note 2 for additional details about the sale of this facility.

 Three Months Ended December 31, Six Months Ended December 31,
 2021202020212020
Depreciation and amortization:
Vista$17,563 $14,952 $33,966 $28,539 
PrintBrothers5,106 5,509 10,340 10,971 
The Print Group6,612 6,641 13,196 13,222 
National Pen6,220 6,255 12,128 12,322 
All Other Businesses4,381 4,391 9,423 10,259 
Central and corporate costs5,432 5,849 10,693 10,574 
Total depreciation and amortization$45,314 $43,597 $89,746 $85,887 

Three Months Ended December 31, Six Months Ended December 31,
2021202020212020
Purchases of property, plant and equipment:
Vista$7,881 $2,515 $10,359 $4,449 
PrintBrothers1,204 213 2,716 1,138 
The Print Group5,249 3,043 6,677 5,930 
National Pen1,023 1,372 2,211 2,824 
All Other Businesses2,157 1,014 3,672 1,968 
Central and corporate costs401 250 904 481 
Total purchases of property, plant and equipment$17,915 $8,407 $26,539 $16,790 
Three Months Ended December 31, Six Months Ended December 31,
2021202020212020
Capitalization of software and website development costs:
Vista$8,618 $4,429 $16,190 $11,416 
PrintBrothers236 185 468 591 
The Print Group519 433 945 663 
National Pen1,053 355 1,731 1,069 
All Other Businesses1,083 681 2,267 1,742 
Central and corporate costs4,986 5,558 10,533 10,964 
Total capitalization of software and website development costs$16,495 $11,641 $32,134 $26,445 
The following table sets forth long-lived assets by geographic area:
 December 31, 2021June 30, 2021
Long-lived assets (1):  
United States (2)$91,888 $107,868 
Netherlands73,620 75,996 
Canada63,020 60,779 
Switzerland71,511 68,880 
Italy46,010 47,776 
France24,011 25,417 
Jamaica19,611 20,550 
Australia20,990 21,298 
Japan13,928 14,891 
Other88,657 96,063 
Total$513,246 $539,518 
___________________
(1) Excludes goodwill of $783,159 and $726,979, intangible assets, net of $180,960 and $186,744, deferred tax assets of $138,805 and $149,618, and marketable securities, non-current of $27,693 and $50,713 as of December 31, 2021 and June 30, 2021, respectively.
(2) The decrease in long-lived assets located in the United States was largely due to the sale of a facility which had a net book value of $15,860 as of June 30, 2021. Refer to Note 2 for additional details about the sale of the facility.