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Segment Information | 9 Months Ended
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Mar. 31, 2024
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, 2024, 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, Vista Corporate Solutions, and Depositphotos, which together represent a full-service design, digital, and print solution. •PrintBrothers - Includes the results of druck.at, Printdeal, and WIRmachenDRUCK, a group of Upload & Print businesses that serve graphic professionals throughout Europe, primarily in Austria, Belgium, Germany, the Netherlands, and Switzerland. •The Print Group - Includes the results of Easyflyer, Exaprint, Packstyle, Pixartprinting, and Tradeprint, a group of Upload & Print businesses that serve graphic professionals throughout Europe, primarily 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 two businesses grouped together based on materiality. ◦BuildASign is a provider of canvas-print wall décor, business signage and other large-format printed products. ◦Printi, a smaller business that we continue to manage at a relatively modest operating loss, is an online printing leader in Brazil. 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 fair value 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 this 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,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Revenue: |  |  |  |  |  |  |  |  |
Vista | $ | 417,896 |  |  | $ | 396,642 |  |  | $ | 1,299,694 |  |  | $ | 1,203,747 |  |  |
PrintBrothers | 150,304 |  |  | 139,569 |  |  | 467,673 |  |  | 420,866 |  |  |
The Print Group | 88,049 |  |  | 85,504 |  |  | 261,856 |  |  | 251,663 |  |  |
National Pen | 89,181 |  |  | 81,113 |  |  | 307,008 |  |  | 283,400 |  |  |
All Other Businesses | 49,103 |  |  | 49,037 |  |  | 161,186 |  |  | 160,862 |  |  |
Total segment revenue | 794,533 |  |  | 751,865 |  |  | 2,497,417 |  |  | 2,320,538 |  |  |
Inter-segment eliminations (1) | (13,945) |  |  | (9,701) |  |  | (38,172) |  |  | (29,757) |  |  |
Total consolidated revenue | $ | 780,588 |  |  | $ | 742,164 |  |  | $ | 2,459,245 |  |  | $ | 2,290,781 |  |  |
_____________________ (1) Refer to the "Revenue by Geographic Region" tables below for detail of the inter-segment revenue within each respective segment.
| Three Months Ended March 31, 2024
| Vista |  | PrintBrothers |  | The Print Group |  | National Pen |  | All Other |  | Total
Revenue by Geographic Region: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 296,717 |  |  | $ | — |  |  | $ | — |  |  | $ | 51,932 |  |  | $ | 39,743 |  |  | $ | 388,392 |
Europe | 99,381 |  |  | 149,552 |  |  | 85,532 |  |  | 28,928 |  |  | — |  |  | 363,393 |
Other | 21,533 |  |  | — |  |  | — |  |  | 1,183 |  |  | 6,087 |  |  | 28,803 |
Inter-segment | 265 |  |  | 752 |  |  | 2,517 |  |  | 7,138 |  |  | 3,273 |  |  | 13,945 |
Total segment revenue | 417,896 |  |  | 150,304 |  |  | 88,049 |  |  | 89,181 |  |  | 49,103 |  |  | 794,533 |
Less: inter-segment elimination | (265) |  |  | (752) |  |  | (2,517) |  |  | (7,138) |  |  | (3,273) |  |  | (13,945) |
Total external revenue | $ | 417,631 |  |  | $ | 149,552 |  |  | $ | 85,532 |  |  | $ | 82,043 |  |  | $ | 45,830 |  |  | $ | 780,588 |
| Nine Months Ended March 31, 2024
| Vista |  | PrintBrothers |  | The Print Group |  | National Pen |  | All Other |  | Total
Revenue by Geographic Region: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 911,465 |  |  | $ | — |  |  | $ | — |  |  | $ | 163,896 |  |  | $ | 132,527 |  |  | $ | 1,207,888 |
Europe | 315,926 |  |  | 465,472 |  |  | 253,360 |  |  | 120,147 |  |  | — |  |  | 1,154,905 |
Other | 71,303 |  |  | — |  |  | — |  |  | 4,591 |  |  | 20,558 |  |  | 96,452 |
Inter-segment | 1,000 |  |  | 2,201 |  |  | 8,496 |  |  | 18,374 |  |  | 8,101 |  |  | 38,172 |
Total segment revenue | 1,299,694 |  |  | 467,673 |  |  | 261,856 |  |  | 307,008 |  |  | 161,186 |  |  | 2,497,417 |
Less: inter-segment elimination | (1,000) |  |  | (2,201) |  |  | (8,496) |  |  | (18,374) |  |  | (8,101) |  |  | (38,172) |
Total external revenue | $ | 1,298,694 |  |  | $ | 465,472 |  |  | $ | 253,360 |  |  | $ | 288,634 |  |  | $ | 153,085 |  |  | $ | 2,459,245 |
| Three Months Ended March 31, 2023
| Vista (1) |  | PrintBrothers |  | The Print Group |  | National Pen |  | All Other |  | Total (1)
Revenue by Geographic Region: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 284,457 |  |  | $ | — |  |  | $ | — |  |  | $ | 50,938 |  |  | $ | 41,524 |  |  | $ | 376,919 |
Europe | 90,332 |  |  | 139,187 |  |  | 83,096 |  |  | 23,811 |  |  | — |  |  | 336,426 |
Other | 21,583 |  |  | — |  |  | — |  |  | 1,180 |  |  | 6,056 |  |  | 28,819 |
Inter-segment | 270 |  |  | 382 |  |  | 2,408 |  |  | 5,184 |  |  | 1,457 |  |  | 9,701 |
Total segment revenue | 396,642 |  |  | 139,569 |  |  | 85,504 |  |  | 81,113 |  |  | 49,037 |  |  | 751,865 |
Less: inter-segment elimination | (270) |  |  | (382) |  |  | (2,408) |  |  | (5,184) |  |  | (1,457) |  |  | (9,701) |
Total external revenue | $ | 396,372 |  |  | $ | 139,187 |  |  | $ | 83,096 |  |  | $ | 75,929 |  |  | $ | 47,580 |  |  | $ | 742,164 |
| Nine Months Ended March 31, 2023
| Vista (1) |  | PrintBrothers |  | The Print Group |  | National Pen |  | All Other |  | Total (1)
Revenue by Geographic Region: |  |  |  |  |  |  |  |  |  |  |
North America | $ | 856,812 |  |  | $ | — |  |  | $ | — |  |  | $ | 162,593 |  |  | $ | 137,016 |  |  | $ | 1,156,421 |
Europe | 275,826 |  |  | 419,658 |  |  | 244,378 |  |  | 99,555 |  |  | — |  |  | 1,039,417 |
Other | 69,827 |  |  | — |  |  | — |  |  | 5,862 |  |  | 19,254 |  |  | 94,943 |
Inter-segment | 1,282 |  |  | 1,208 |  |  | 7,285 |  |  | 15,390 |  |  | 4,592 |  |  | 29,757 |
Total segment revenue | 1,203,747 |  |  | 420,866 |  |  | 251,663 |  |  | 283,400 |  |  | 160,862 |  |  | 2,320,538 |
Less: inter-segment elimination | (1,282) |  |  | (1,208) |  |  | (7,285) |  |  | (15,390) |  |  | (4,592) |  |  | (29,757) |
Total external revenue | $ | 1,202,465 |  |  | $ | 419,658 |  |  | $ | 244,378 |  |  | $ | 268,010 |  |  | $ | 156,270 |  |  | $ | 2,290,781 |
___________________ (1) During fiscal year 2023, we identified an immaterial error in our previously disclosed revenue by geographic area for our Vista reportable segment for the three and nine months ended March 31, 2023, 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 (loss) from operations and total income (loss) before income taxes:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Segment EBITDA: |  |  |  |  |  |  |  |  |
Vista | $ | 71,802 |  |  | $ | 60,392 |  |  | $ | 249,402 |  |  | $ | 146,286 |  |  |
PrintBrothers | 16,809 |  |  | 15,886 |  |  | 64,976 |  |  | 50,386 |  |  |
The Print Group | 18,190 |  |  | 13,589 |  |  | 50,240 |  |  | 39,490 |  |  |
National Pen | 4,815 |  |  | (3,336) |  |  | 22,377 |  |  | 20,150 |  |  |
All Other Businesses | 3,966 |  |  | 5,036 |  |  | 18,407 |  |  | 16,620 |  |  |
Total segment EBITDA | 115,582 |  |  | 91,567 |  |  | 405,402 |  |  | 272,932 |  |  |
Central and corporate costs | (39,472) |  |  | (34,447) |  |  | (107,219) |  |  | (102,827) |  |  |
Depreciation and amortization | (37,072) |  |  | (39,751) |  |  | (116,103) |  |  | (121,567) |  |  |
Restructuring-related charges | (128) |  |  | (30,115) |  |  | (277) |  |  | (43,142) |  |  |
Certain impairments and other adjustments | 328 |  |  | 549 |  |  | (786) |  |  | (1,982) |  |  |
Total income (loss) from operations | 39,238 |  |  | (12,197) |  |  | 181,017 |  |  | 3,414 |  |  |
Other (expense) income, net | (3,651) |  |  | 1,377 |  |  | 2,377 |  |  | 11,382 |  |  |
Interest expense, net | (30,158) |  |  | (30,515) |  |  | (89,946) |  |  | (83,918) |  |  |
Gain on early extinguishment of debt | — |  |  | — |  |  | 1,721 |  |  | — |  |  |
Income (loss) before income taxes | $ | 5,429 |  |  | $ | (41,335) |  |  | $ | 95,169 |  |  | $ | (69,122) |  |  |
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Vista | $ | 13,040 |  |  | $ | 14,480 |  |  | $ | 41,091 |  |  | $ | 43,343 |  |  |
PrintBrothers | 3,789 |  |  | 4,175 |  |  | 11,702 |  |  | 14,097 |  |  |
The Print Group | 6,184 |  |  | 5,269 |  |  | 18,006 |  |  | 16,930 |  |  |
National Pen | 3,228 |  |  | 4,820 |  |  | 13,408 |  |  | 16,506 |  |  |
All Other Businesses | 4,604 |  |  | 4,375 |  |  | 13,660 |  |  | 13,217 |  |  |
Central and corporate costs | 6,227 |  |  | 6,632 |  |  | 18,236 |  |  | 17,474 |  |  |
Total depreciation and amortization | $ | 37,072 |  |  | $ | 39,751 |  |  | $ | 116,103 |  |  | $ | 121,567 |  |  |
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Purchases of property, plant and equipment: |  |  |  |  |  |  |  |  |
Vista | $ | 6,488 |  |  | $ | 3,006 |  |  | $ | 15,958 |  |  | $ | 12,575 |  |  |
PrintBrothers | (132) |  |  | 2,010 |  |  | 5,110 |  |  | 3,771 |  |  |
The Print Group | 1,933 |  |  | 3,995 |  |  | 12,976 |  |  | 14,084 |  |  |
National Pen | 313 |  |  | 889 |  |  | 4,468 |  |  | 3,336 |  |  |
All Other Businesses | 1,455 |  |  | 815 |  |  | 4,871 |  |  | 2,650 |  |  |
Central and corporate costs | 413 |  |  | 281 |  |  | 1,042 |  |  | 1,070 |  |  |
Total purchases of property, plant and equipment | $ | 10,470 |  |  | $ | 10,996 |  |  | $ | 44,425 |  |  | $ | 37,486 |  |  |
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Capitalization of software and website development costs: |  |  |  |  |  |  |  |  |
Vista | $ | 6,231 |  |  | $ | 5,894 |  |  | $ | 18,921 |  |  | $ | 17,668 |  |  |
PrintBrothers | 521 |  |  | 104 |  |  | 1,434 |  |  | 1,562 |  |  |
The Print Group | 891 |  |  | 866 |  |  | 2,641 |  |  | 2,127 |  |  |
National Pen | 1,111 |  |  | 778 |  |  | 3,087 |  |  | 1,878 |  |  |
All Other Businesses | 1,582 |  |  | 1,008 |  |  | 3,879 |  |  | 2,831 |  |  |
Central and corporate costs | 4,699 |  |  | 6,285 |  |  | 13,417 |  |  | 18,115 |  |  |
Total capitalization of software and website development costs | $ | 15,035 |  |  | $ | 14,935 |  |  | $ | 43,379 |  |  | $ | 44,181 |  |  |
The following table sets forth long-lived assets by geographic area:
| March 31, 2024 |  | June 30, 2023
Long-lived assets (1): |  |  |
United States (2) | $ | 72,754 |  |  | $ | 83,956 |
Switzerland | 67,939 |  |  | 73,857 |
Netherlands | 60,787 |  |  | 65,547 |
Canada | 56,533 |  |  | 57,328 |
Italy | 38,557 |  |  | 42,377 |
Germany | 32,443 |  |  | 27,813 |
France | 29,476 |  |  | 29,302 |
Australia | 21,070 |  |  | 19,664 |
Jamaica (3) | 1,021 |  |  | 17,834 |
Other | 87,778 |  |  | 86,690 |
Total | $ | 468,358 |  |  | $ | 504,368 |
___________________ (1) Excludes goodwill of $779,263 and $781,541, intangible assets, net of $83,235 and $109,196, deferred tax assets of $9,435 and $12,740 as of March 31, 2024 and June 30, 2023, respectively, as well as marketable securities, non-current of $4,497 as of June 30, 2023. (2) The decrease in the United States long-lived assets is due to the reclassification of a tax receivable from non-current to current during the current fiscal year. (3) The decrease in Jamaica's long-lived assets is due to the planned sale of an owned customer service facility as we continue to optimize our real estate footprint with many of these team members operating under a remote-first model, which resulted in the classification of the related assets as held-for-sale as of March 31, 2024. The assets are now presented as part of prepaid expenses and other current assets in the consolidated balance sheet. Refer to Note 2 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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