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Segment Information
 6 Months Ended
Dec. 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 December 31, 2024, we have numerous operating segments under our management reporting structure which are reported in the following five reportable segments:
•Vista - Consists of the operations of our VistaPrint branded websites in North America, Western Europe, Australia, New Zealand, India, and Singapore. This business also includes our 99designs by Vista business, which provides graphic design services, VistaCreate for do-it-yourself (DIY) design, our Vista x Wix partnership for small business websites, and our Vista Corporate Solutions business, which serves medium-sized businesses and large corporations.
•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 - Serves small businesses across geographies including North America, Europe, and Australia. The pens.com branded business sells through their ecommerce site and is supported by digital marketing methods as well as direct mail and telesales. National Pen focuses on customized writing instruments and promotional products, apparel, and gifts for small- and medium-sized businesses.
•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 is an online printing leader in Brazil.

For purposes of measuring and reporting our segment financial performance, we implemented changes to the methodology used for inter-segment transactions during the first quarter of fiscal 2025. These transactions occur when one Cimpress business chooses to buy from or sell to another Cimpress business. Under the new approach, a merchant business (the buyer) is cross charged the actual cost of fulfillment that includes product (e.g., labor, materials and overhead allocation) and shipping costs. A fulfiller business (the seller) receives inter-segment revenue that includes the product costs plus a markup, as well as the shipping costs. The fulfiller profit is included in the fulfiller’s segment results, but eliminated from consolidated reporting through an inter-segment EBITDA elimination. The new approach allows our merchant businesses to access the ultimate Cimpress cost of fulfillment for a given product and therefore that ultimate Cimpress cost can be used to determine pricing, advertising spend, and other operational decisions. Prior to this change, inter-segment transactions were based on marked-up pricing that resulted in the merchant business recognizing inter-segment cost of goods sold that was equal to inter-segment revenue that were recognized by the fulfiller business, as such there was no inter-segment EBITDA elimination under our prior method. We have recast all prior periods presented for segment revenue and segment EBITDA to ensure comparability with the current fiscal year. These changes in methodology have no impact on our consolidated financial results.
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 December 31, Six Months Ended December 31,
 2024
2023 (1)
2024
2023 (1)
Revenue:
Vista
$497,677 $485,445 $927,171 $882,295 
PrintBrothers
174,508 165,551 334,923 318,124 
The Print Group
98,628 92,135 182,700 171,572 
National Pen
131,423 130,096 224,827 216,892 
All Other Businesses
60,333 59,762 117,476 111,187 
Total segment revenue
962,569 932,989 1,787,097 1,700,070 
Inter-segment eliminations (2)
(23,410)(11,626)(42,969)(21,413)
Total consolidated revenue$939,159 $921,363 $1,744,128 $1,678,657 
_____________________
(1) The prior period segment results have been adjusted to ensure comparability with the new methodology used for inter-segment transactions. Refer to the discussion above for further details.
(2) Refer to the "Revenue by Geographic Region" tables below for detail of the inter-segment revenue within each respective segment.

Three Months Ended December 31, 2024
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$326,538 $— $— $58,486 $45,730 $430,754 
Europe140,852 173,437 92,012 64,702 26 471,029 
Other29,633 — — 1,524 6,219 37,376 
Inter-segment654 1,071 6,616 6,711 8,358 23,410 
   Total segment revenue497,677 174,508 98,628 131,423 60,333 962,569 
Less: inter-segment elimination(654)(1,071)(6,616)(6,711)(8,358)(23,410)
Total external revenue$497,023 $173,437 $92,012 $124,712 $51,975 $939,159 

Six Months Ended December 31, 2024
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$635,713 $— $— $110,773 $89,098 $835,584 
Europe236,509 332,805 172,919 96,709 26 838,968 
Other53,392 — — 2,966 13,218 69,576 
Inter-segment 1,557 2,118 9,781 14,379 15,134 42,969 
   Total segment revenue927,171 334,923 182,700 224,827 117,476 1,787,097 
Less: inter-segment elimination(1,557)(2,118)(9,781)(14,379)(15,134)(42,969)
Total external revenue$925,614 $332,805 $172,919 $210,448 $102,342 $1,744,128 
Three Months Ended December 31, 2023
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$325,693 $— $— $59,229 $50,570 $435,492 
Europe131,138 164,378 90,026 63,482 — 449,024 
Other27,880 — — 2,031 6,936 36,847 
Inter-segment (1) 734 1,173 2,109 5,354 2,256 11,626 
   Total segment revenue (1)485,445 165,551 92,135 130,096 59,762 932,989 
Less: inter-segment elimination (1)
(734)(1,173)(2,109)(5,354)(2,256)(11,626)
Total external revenue$484,711 $164,378 $90,026 $124,742 $57,506 $921,363 

Six Months Ended December 31, 2023
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$614,748 $— $— $111,964 $92,784 $819,496 
Europe216,545 315,920 167,828 91,219 — 791,512 
Other49,770 — — 3,408 14,471 67,649 
Inter-segment (1) 1,232 2,204 3,744 10,301 3,932 21,413 
   Total segment revenue (1)882,295 318,124 171,572 216,892 111,187 1,700,070 
Less: inter-segment elimination (1)
(1,232)(2,204)(3,744)(10,301)(3,932)(21,413)
Total external revenue$881,063 $315,920 $167,828 $206,591 $107,255 $1,678,657 
_____________________
(1) The prior period segment results have been adjusted to ensure comparability with the new methodology used for inter-segment transactions. Refer to the discussion above for further details.

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,
 2024
2023 (1)
2024
2023 (1)
Segment EBITDA:
Vista
$92,423 $107,870 $169,270 $186,448 
PrintBrothers
23,333 28,802 43,489 49,012 
The Print Group
18,526 17,309 36,428 29,816 
National Pen
23,299 25,389 18,541 16,627 
All Other Businesses
3,667 7,371 10,402 13,389 
Inter-segment elimination
(6,579)(2,934)(12,079)(5,472)
Total segment EBITDA154,669 183,807 266,051 289,820 
Central and corporate costs(37,163)(35,967)(74,175)(67,747)
Depreciation and amortization(35,211)(39,089)(70,757)(79,031)
Restructuring-related charges(163)(483)(262)(149)
Certain impairments and other adjustments (1,183)(589)(569)(1,114)
Total income from operations
80,949 107,679 120,288 141,779 
Other income (expense), net31,678 (391)20,186 6,028 
Interest expense, net(29,165)(30,588)(60,580)(59,788)
(Loss) gain on early extinguishment of debt(696)349 (517)1,721 
Income before income taxes$82,766 $77,049 $79,377 $89,740 
_____________________
(1) The prior period segment results have been adjusted to ensure comparability with the new methodology used for inter-segment transactions. Refer to the discussion above for further details.
 Three Months Ended December 31, Six Months Ended December 31,
 2024202320242023
Depreciation and amortization:
Vista$13,096 $13,176 $26,151 $28,051 
PrintBrothers3,391 4,024 6,866 7,913 
The Print Group4,889 6,000 10,100 11,822 
National Pen3,188 4,992 6,434 10,180 
All Other Businesses4,743 4,509 9,390 9,056 
Central and corporate costs5,904 6,388 11,816 12,009 
Total depreciation and amortization$35,211 $39,089 $70,757 $79,031 

Three Months Ended December 31, Six Months Ended December 31,
2024202320242023
Purchases of property, plant and equipment:
Vista$9,768 $5,859 $17,294 $9,470 
PrintBrothers1,740 90 3,107 5,242 
The Print Group8,546 2,547 12,313 11,043 
National Pen1,113 1,486 2,476 4,155 
All Other Businesses4,541 1,181 7,052 3,416 
Central and corporate costs710 227 1,177 629 
Total purchases of property, plant and equipment$26,418 $11,390 $43,419 $33,955 

Three Months Ended December 31, Six Months Ended December 31,
2024202320242023
Capitalization of software and website development costs:
Vista$6,544 $6,050 $12,601 $12,690 
PrintBrothers991 456 1,593 913 
The Print Group1,506 1,056 2,455 1,750 
National Pen1,147 1,171 2,247 1,976 
All Other Businesses1,757 1,110 3,256 2,297 
Central and corporate costs4,732 4,104 9,096 8,718 
Total capitalization of software and website development costs$16,677 $13,947 $31,248 $28,344 
The following table sets forth long-lived assets by geographic area:
 December 31, 2024June 30, 2024
Long-lived assets (1):  
United States
$80,194 $77,095 
Canada64,996 54,848 
Switzerland64,645 67,201 
Netherlands55,986 60,974 
Italy38,084 37,380 
Germany30,357 31,656 
France26,849 28,002 
Australia21,062 22,131 
Jamaica
3,546 3,782 
Other100,640 90,380 
Total$486,359 $473,449 
___________________
(1) Excludes goodwill of $777,608 and $787,138, intangible assets, net of $65,940 and $76,560, deferred tax assets of $90,227 and $95,059, and equity method investments of $2,075 and $1,904 as of December 31, 2024 and June 30, 2024, respectively.