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Segment Information
9 Months Ended
Mar. 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 March 31, 2022, 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 soon after the acquisition.
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.
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 March 31, Nine Months Ended March 31,
 2022202120222021
Revenue:
Vista (1)$349,216 $321,965 $1,146,810 $1,082,332 
PrintBrothers119,960 93,997 383,011 315,915 
The Print Group75,361 59,945 238,311 202,586 
National Pen72,243 62,220 266,224 244,561 
All Other Businesses48,486 44,062 154,076 142,905 
Total segment revenue665,266 582,189 2,188,432 1,988,299 
Inter-segment eliminations (2)(7,854)(8,827)(23,705)(47,533)
Total consolidated revenue$657,412 $573,362 $2,164,727 $1,940,766 
_____________________
(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 $5,489 and $10,730 for the three and nine months ended March 31, 2022. 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 nine months ended March 31, 2022 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 March 31, 2022
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$236,751 $— $— $43,483 $42,047 $322,281 
Europe78,136 119,353 73,885 21,876 — 293,250 
Other32,779 — — 3,741 5,361 41,881 
Inter-segment1,550 607 1,476 3,143 1,078 7,854 
   Total segment revenue349,216 119,960 75,361 72,243 48,486 665,266 
Less: inter-segment elimination(1,550)(607)(1,476)(3,143)(1,078)(7,854)
Total external revenue$347,666 $119,353 $73,885 $69,100 $47,408 $657,412 
Nine Months Ended March 31, 2022
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$770,815 $— $— $142,497 $134,390 $1,047,702 
Europe267,296 381,654 232,636 96,524 — 978,110 
Other105,342 — — 16,503 17,070 138,915 
Inter-segment3,357 1,357 5,675 10,700 2,616 23,705 
   Total segment revenue1,146,810 383,011 238,311 266,224 154,076 2,188,432 
Less: inter-segment elimination(3,357)(1,357)(5,675)(10,700)(2,616)(23,705)
Total external revenue$1,143,453 $381,654 $232,636 $255,524 $151,460 $2,164,727 
Three Months Ended March 31, 2021
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$214,663 $— $— $33,398 $39,407 $287,468 
Europe73,524 93,831 57,536 19,731 — 244,622 
Other33,167 — — 4,012 4,093 41,272 
Inter-segment611 166 2,409 5,079 562 8,827 
   Total segment revenue321,965 93,997 59,945 62,220 44,062 582,189 
Less: inter-segment elimination(611)(166)(2,409)(5,079)(562)(8,827)
Total external revenue$321,354 $93,831 $57,536 $57,141 $43,500 $573,362 
Nine Months Ended March 31, 2021
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$715,494 $— $— $112,397 $128,013 $955,904 
Europe277,649 315,336 187,257 87,913 — 868,155 
Other87,485 — — 16,359 12,863 116,707 
Inter-segment1,704 579 15,329 27,892 2,029 47,533 
   Total segment revenue1,082,332 315,915 202,586 244,561 142,905 1,988,299 
Less: inter-segment elimination(1,704)(579)(15,329)(27,892)(2,029)(47,533)
Total external revenue$1,080,628 $315,336 $187,257 $216,669 $140,876 $1,940,766 

The following table includes segment EBITDA by reportable segment, total (loss) income from operations and total (loss) income before income taxes:
 Three Months Ended March 31, Nine Months Ended March 31,
 2022202120222021
Segment EBITDA:
Vista$27,386 $64,333 $188,114 $266,821 
PrintBrothers12,392 7,560 47,280 33,732 
The Print Group11,923 6,475 42,670 31,227 
National Pen(898)(3,324)22,653 4,733 
All Other Businesses6,044 6,515 17,199 25,781 
Total segment EBITDA56,847 81,559 317,916 362,294 
Central and corporate costs(37,936)(34,144)(109,834)(96,148)
Depreciation and amortization(43,651)(42,809)(133,397)(128,696)
Proceeds from insurance— (122)— (122)
Certain impairments and other adjustments (277)(20,563)3,216 (21,131)
Restructuring-related charges(3,420)382 (3,418)(1,714)
Total (loss) income from operations(28,437)(15,697)74,483 114,483 
Other income (expense), net12,321 9,785 38,330 (16,167)
Interest expense, net(24,247)(29,002)(75,304)(89,659)
(Loss) income before income taxes$(40,363)$(34,914)$37,509 $8,657 
 Three Months Ended March 31, Nine Months Ended March 31,
 2022202120222021
Depreciation and amortization:
Vista$15,791 $14,881 $49,757 $43,420 
PrintBrothers5,466 5,493 15,806 16,464 
The Print Group6,459 6,630 19,655 19,852 
National Pen5,933 6,304 18,061 18,626 
All Other Businesses4,519 4,524 13,942 14,783 
Central and corporate costs5,483 4,977 16,176 15,551 
Total depreciation and amortization$43,651 $42,809 $133,397 $128,696 

Three Months Ended March 31, Nine Months Ended March 31,
2022202120222021
Purchases of property, plant and equipment:
Vista$4,132 $2,411 $14,491 $6,860 
PrintBrothers665 286 3,381 1,424 
The Print Group7,560 980 14,237 6,910 
National Pen644 679 2,855 3,503 
All Other Businesses2,130 744 5,802 2,712 
Central and corporate costs472 846 1,376 1,327 
Total purchases of property, plant and equipment$15,603 $5,946 $42,142 $22,736 

Three Months Ended March 31, Nine Months Ended March 31,
2022202120222021
Capitalization of software and website development costs:
Vista$8,235 $10,414 $24,425 $21,830 
PrintBrothers361 379 829 970 
The Print Group790 398 1,735 1,061 
National Pen877 604 2,608 1,673 
All Other Businesses981 897 3,248 2,639 
Central and corporate costs6,497 6,184 17,030 17,148 
Total capitalization of software and website development costs$17,741 $18,876 $49,875 $45,321 
The following table sets forth long-lived assets by geographic area:
 March 31, 2022June 30, 2021
Long-lived assets (1):  
United States$92,469 $87,136 
Netherlands70,700 76,449 
Canada60,494 57,685 
Switzerland73,467 65,269 
Italy46,540 46,559 
France26,005 20,802 
Jamaica19,191 21,060 
Australia20,043 25,564 
Japan12,947 15,168 
Other85,647 96,964 
Total$507,503 $512,656 
___________________
(1) Excludes goodwill of $787,572 and $726,979, intangible assets, net of $171,813 and $186,744, deferred tax assets of $113,059 and $149,618, and marketable securities, non-current of $12,116 and $50,713 as of March 31, 2022 and June 30, 2021, respectively.