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Segment Information | 12 Months Ended
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Jun. 30, 2023
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 June 30, 2023, 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, Depositphotos, 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. •PrintBrothers - Consists of three of our Upload & Print businesses, which includes druck.at, Printdeal, and WIRmachenDRUCK that primarily serve customers in Austria, Belgium, Germany, the Netherlands, and Switzerland. •The Print Group - Includes our Easyflyer, Exaprint, Pixartprinting, and Tradeprint businesses, which are Upload & Print businesses that primarily serve customers in France, Italy, Spain, and the United Kingdom. •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 includes one smaller business 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. ◦We exited our YSD business, which was included in this reportable segment, during fiscal year 2023. 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 tax, treasury, internal audit, legal, sustainability, corporate communications, remote first enablement, consolidated reporting and compliance, investor relations, capital allocation, and the functions of our CEO and CFO. 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.
|  |  | Year Ended June 30,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Revenue: |  |  |  |  |  |  |  |  |
Vista |  |  |  |  | $ | 1,613,887 |  |  | $ | 1,514,909 |  |  | $ | 1,428,255 |
PrintBrothers |  |  |  |  | 578,431 |  |  | 526,952 |  |  | 421,766 |
The Print Group |  |  |  |  | 346,949 |  |  | 329,590 |  |  | 275,534 |
National Pen |  |  |  |  | 366,294 |  |  | 341,832 |  |  | 313,528 |
All Other Businesses |  |  |  |  | 213,455 |  |  | 205,862 |  |  | 192,038 |
Total segment revenue |  |  |  |  | 3,119,016 |  |  | 2,919,145 |  |  | 2,631,121 |
Inter-segment eliminations (1) |  |  |  |  | (39,389) |  |  | (31,590) |  |  | (55,160) |
Total consolidated revenue |  |  |  |  | $ | 3,079,627 |  |  | $ | 2,887,555 |  |  | $ | 2,575,961 |
_____________________ (1) 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 fiscal year ended June 30, 2021 associated with the fulfillment of masks in response to the pandemic. Demand for this product was far lower in the years ended June 30, 2023 and 2022.
| Year Ended June 30, 2023
| Vista |  | PrintBrothers |  | The Print Group |  | National Pen |  | All Other |  | Total
Revenue by Geographic Region: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 1,155,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 216,690 |  |  | $ | 181,145 |  |  | $ | 1,552,835 |
Europe | 366,244 |  |  | 576,719 |  |  | 337,012 |  |  | 122,007 |  |  | — |  |  | 1,401,982 |
Other | 91,066 |  |  | — |  |  | — |  |  | 7,772 |  |  | 25,972 |  |  | 124,810 |
Inter-segment | 1,577 |  |  | 1,712 |  |  | 9,937 |  |  | 19,825 |  |  | 6,338 |  |  | 39,389 |
Total segment revenue | 1,613,887 |  |  | 578,431 |  |  | 346,949 |  |  | 366,294 |  |  | 213,455 |  |  | 3,119,016 |
Less: inter-segment elimination | (1,577) |  |  | (1,712) |  |  | (9,937) |  |  | (19,825) |  |  | (6,338) |  |  | (39,389) |
Total external revenue | $ | 1,612,310 |  |  | $ | 576,719 |  |  | $ | 337,012 |  |  | $ | 346,469 |  |  | $ | 207,117 |  |  | $ | 3,079,627 |
| Year Ended June 30, 2022
| Vista (1) |  | PrintBrothers |  | The Print Group |  | National Pen |  | All Other |  | Total
Revenue by Geographic Region: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 1,063,390 |  |  | $ | — |  |  | $ | — |  |  | $ | 193,056 |  |  | $ | 177,868 |  |  | $ | 1,402,222 |
Europe | 353,275 |  |  | 525,224 |  |  | 322,315 |  |  | 113,820 |  |  | — |  |  | 1,304,175 |
Other | 94,874 |  |  | — |  |  | — |  |  | 20,058 |  |  | 23,675 |  |  | 181,158 |
Inter-segment | 3,370 |  |  | 1,728 |  |  | 7,275 |  |  | 14,898 |  |  | 4,319 |  |  | 31,590 |
Total segment revenue | 1,514,909 |  |  | 526,952 |  |  | 329,590 |  |  | 341,832 |  |  | 205,862 |  |  | 2,919,145 |
Less: inter-segment elimination | (3,370) |  |  | (1,728) |  |  | (7,275) |  |  | (14,898) |  |  | (4,319) |  |  | (31,590) |
Total external revenue | $ | 1,511,539 |  |  | $ | 525,224 |  |  | $ | 322,315 |  |  | $ | 326,934 |  |  | $ | 201,543 |  |  | $ | 2,887,555 |
| Year Ended June 30, 2021
| Vista (1) |  | PrintBrothers |  | The Print Group |  | National Pen |  | All Other |  | Total
Revenue by Geographic Region: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 984,910 |  |  | $ | — |  |  | $ | — |  |  | $ | 154,857 |  |  | $ | 171,398 |  |  | $ | 1,281,535 |
Europe | 354,546 |  |  | 420,946 |  |  | 258,230 |  |  | 106,004 |  |  | — |  |  | 1,135,450 |
Other | 86,461 |  |  | — |  |  | — |  |  | 20,762 |  |  | 17,847 |  |  | 158,976 |
Inter-segment | 2,338 |  |  | 820 |  |  | 17,304 |  |  | 31,905 |  |  | 2,793 |  |  | 55,160 |
Total segment revenue | 1,428,255 |  |  | 421,766 |  |  | 275,534 |  |  | 313,528 |  |  | 192,038 |  |  | 2,631,121 |
Less: inter-segment elimination | (2,338) |  |  | (820) |  |  | (17,304) |  |  | (31,905) |  |  | (2,793) |  |  | (55,160) |
Total external revenue | $ | 1,425,917 |  |  | $ | 420,946 |  |  | $ | 258,230 |  |  | $ | 281,623 |  |  | $ | 189,245 |  |  | $ | 2,575,961 |
__________________ (1) During the fourth quarter of fiscal year 2023, we identified an immaterial error in our previously disclosed revenue by geographic area for our Vista reportable segment for the fiscal years ended June 30, 2022 and 2021, which understated revenue in North America and Europe, with an offsetting overstatement in the Other geographies. We have corrected the disclosed figures as included herein. The following table includes segment EBITDA by reportable segment, total income from operations, and total (loss) income before income taxes:
|  |  | Year Ended June 30,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Segment EBITDA: |  |  |  |  |  |  |  |  |
Vista |  |  |  |  | $ | 224,081 |  |  | $ | 195,321 |  |  | $ | 318,684 |
PrintBrothers |  |  |  |  | 70,866 |  |  | 66,774 |  |  | 43,144 |
The Print Group |  |  |  |  | 60,089 |  |  | 58,664 |  |  | 43,126 |
National Pen |  |  |  |  | 23,714 |  |  | 26,845 |  |  | 11,644 |
All Other Businesses |  |  |  |  | 25,215 |  |  | 23,227 |  |  | 31,707 |
Total segment EBITDA |  |  |  |  | 403,965 |  |  | 370,831 |  |  | 448,305 |
Central and corporate costs |  |  |  |  | (133,539) |  |  | (143,958) |  |  | (129,367) |
Depreciation and amortization |  |  |  |  | (162,428) |  |  | (175,681) |  |  | (173,212) |
Proceeds from insurance |  |  |  |  | — |  |  | — |  |  | (122) |
Certain impairments and other adjustments |  |  |  |  | (6,932) |  |  | 9,709 |  |  | (20,453) |
Restructuring-related charges |  |  |  |  | (43,757) |  |  | (13,603) |  |  | (1,641) |
Total income from operations |  |  |  |  | 57,309 |  |  | 47,298 |  |  | 123,510 |
Other income (expense), net |  |  |  |  | 18,498 |  |  | 61,463 |  |  | (19,353) |
Interest expense, net |  |  |  |  | (112,793) |  |  | (99,430) |  |  | (119,368) |
Gain (loss) on early extinguishment of debt |  |  |  |  | 6,764 |  |  | — |  |  | (48,343) |
(Loss) income before income taxes |  |  |  |  | $ | (30,222) |  |  | $ | 9,331 |  |  | $ | (63,554) |
|  |  | Year Ended June 30,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Vista |  |  |  |  | $ | 58,464 |  |  | $ | 65,489 |  |  | $ | 58,513 |
PrintBrothers |  |  |  |  | 18,135 |  |  | 20,790 |  |  | 22,089 |
The Print Group |  |  |  |  | 22,810 |  |  | 25,657 |  |  | 27,066 |
National Pen |  |  |  |  | 21,366 |  |  | 24,261 |  |  | 25,123 |
All Other Businesses |  |  |  |  | 17,694 |  |  | 18,536 |  |  | 19,811 |
Central and corporate costs |  |  |  |  | 23,959 |  |  | 20,948 |  |  | 20,610 |
Total depreciation and amortization |  |  |  |  | $ | 162,428 |  |  | $ | 175,681 |  |  | $ | 173,212 |
|  |  | Year Ended June 30,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Purchases of property, plant, and equipment: |  |  |  |  |  |  |  |  |
Vista |  |  |  |  | $ | 17,604 |  |  | $ | 17,198 |  |  | $ | 12,332 |
PrintBrothers |  |  |  |  | 4,422 |  |  | 3,788 |  |  | 3,609 |
The Print Group |  |  |  |  | 19,683 |  |  | 19,877 |  |  | 11,847 |
National Pen |  |  |  |  | 6,003 |  |  | 4,332 |  |  | 3,603 |
All Other Businesses |  |  |  |  | 4,793 |  |  | 7,027 |  |  | 5,466 |
Central and corporate costs |  |  |  |  | 1,267 |  |  | 1,818 |  |  | 1,667 |
Total purchases of property, plant and equipment |  |  |  |  | $ | 53,772 |  |  | $ | 54,040 |  |  | $ | 38,524 |
|  |  | Year Ended June 30,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Capitalization of software and website development costs: |  |  |  |  |  |  |  |  |
Vista |  |  |  |  | $ | 22,559 |  |  | $ | 30,994 |  |  | $ | 28,297 |
PrintBrothers |  |  |  |  | 2,010 |  |  | 1,139 |  |  | 1,465 |
The Print Group |  |  |  |  | 2,997 |  |  | 2,419 |  |  | 1,603 |
National Pen |  |  |  |  | 2,913 |  |  | 3,390 |  |  | 3,115 |
All Other Businesses |  |  |  |  | 4,299 |  |  | 4,097 |  |  | 3,746 |
Central and corporate costs |  |  |  |  | 23,009 |  |  | 23,258 |  |  | 22,711 |
Total capitalization of software and website development costs |  |  |  |  | $ | 57,787 |  |  | $ | 65,297 |  |  | $ | 60,937 |
Enterprise Wide Disclosures: The following table sets forth revenues by significant geographic area:
| Year Ended June 30,
| 2023 |  | 2022 (1) |  | 2021 (1)
United States | $ | 1,407,691 |  |  | $ | 1,320,347 |  |  | $ | 1,226,606 |
Germany | 460,516 |  |  | 420,041 |  |  | 353,253 |
Other (2) | 1,211,420 |  |  | 1,147,167 |  |  | 996,102 |
Total revenue | $ | 3,079,627 |  |  | $ | 2,887,555 |  |  | $ | 2,575,961 |
__________________ (1) During the fourth quarter of fiscal year 2023, we identified an immaterial error in our previously disclosed revenue by geographic area for the fiscal year ended June 30, 2022 and 2021, which understated revenue in the United States and Germany, with an offsetting overstatement in the Other geographies. We have corrected the disclosed figures as included herein. (2) Our other revenue includes Ireland, our country of domicile. The following table sets forth revenues by groups of similar products and services:
| Year Ended June 30,
| 2023 |  | 2022 |  | 2021
Physical printed products and other (1) | $ | 2,990,041 |  |  | $ | 2,789,600 |  |  | $ | 2,477,158 |
Digital products and services | 89,586 |  |  | 97,955 |  |  | 98,803 |
Total revenue | $ | 3,079,627 |  |  | $ | 2,887,555 |  |  | $ | 2,575,961 |
__________________ (1) Other revenue includes miscellaneous items, which account for less than 1% of revenue. The following table sets forth long-lived assets by geographic area:
| June 30, 2023 |  | June 30, 2022
Long-lived assets (1): |  |  |
United States (2) | $ | 83,956 |  |  | $ | 95,589 |
Netherlands | 65,547 |  |  | 67,240 |
Canada | 57,328 |  |  | 58,498 |
Switzerland | 73,857 |  |  | 72,394 |
Italy | 42,377 |  |  | 48,262 |
France | 29,302 |  |  | 25,383 |
Jamaica | 17,834 |  |  | 18,744 |
Australia | 19,664 |  |  | 17,751 |
Japan (3) | — |  |  | 11,392 |
Other | 114,503 |  |  | 90,677 |
Total | $ | 504,368 |  |  | $ | 505,930 |
___________________ (1) Excludes goodwill of $781,541 and $766,600, intangible assets, net of $109,196 and $154,730, deferred tax assets of $12,740 and $113,088, and marketable securities, non-current of $4,497 and zero as of June 30, 2023 and June 30, 2022, respectively. (2) The decrease of the United States long-lived assets is primarily driven by the termination of our Waltham, MA lease in August 2022 that resulted in a reduction to the operating lease asset and related leasehold improvements. (3) The decrease in Japan's long-lived assets is due to the planned sale of the land and building, which resulted in the classification of the carrying value as prepaid expenses and other current assets because it meets held-for-sale criteria as of June 30, 2023. Refer to Note 18 for additional details.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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