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Segment Information
 3 Months Ended
Sep. 30, 2025
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 September 30, 2025, 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. Pixartprinting's U.S. facility went live in March 2025, fulfilling orders for other Cimpress businesses as the business expands its offerings and launches its brand in North America.
•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.
During the first quarter of fiscal year 2026, we made updates to our previously implemented methodology for inter-segment transactions, which is used for purposes of measuring and reporting our segment financial performance. These transactions occur when one Cimpress business chooses to buy from or sell to another Cimpress business. Under the updated methodology, a merchant business (the buyer) is cross charged the variable cost of fulfillment that includes labor, materials and shipping costs, but excludes the overhead allocation that was previously included. A fulfiller business (the seller) receives inter-segment revenue that includes the variable cost of fulfillment 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 updated approach allows our merchant businesses to access the ultimate Cimpress variable cost of fulfillment for a given product and therefore that ultimate Cimpress variable cost can be used to determine pricing, advertising spend, and other operational decisions. We made this change to simplify the inputs required for our businesses to transact with each other, and also to set the right incentives to drive increased use of our internal production capabilities. We have recast our historical segment results for all periods presented to ensure comparability with the updated methodology. These changes in methodology have no impact on our consolidated financial results.
During the first quarter of fiscal year 2026, we updated our internal organizational structure which included the transfer of two teams from our Vista reportable segment into our central functions. The change is intended to drive efficiencies through those functions. We have updated our segment presentation of all periods presented to reflect these changes.
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, real estate, corporate communications, consolidated reporting and compliance, investor relations, 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 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 September 30,
 20252024 (1)
Revenue:
Vista
$454,909 $429,576 
PrintBrothers
184,711 160,424 
The Print Group
96,710 84,202 
National Pen
103,209 93,590 
All Other Businesses
61,742 57,240 
Total segment revenue
901,281 825,032 
Inter-segment eliminations (2)(38,004)(20,063)
Total consolidated revenue$863,277 $804,969 
_____________________
(1) The prior-period segment results have been adjusted to ensure comparability with the updated 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 September 30, 2025
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$317,720 $— $618 $53,431 $41,942 $413,711 
Europe109,482 181,449 85,543 36,951 186 413,611 
Other26,255 — — 1,653 8,047 35,955 
Inter-segment1,452 3,262 10,549 11,174 11,567 38,004 
   Total segment revenue454,909 184,711 96,710 103,209 61,742 901,281 
Less: inter-segment elimination(1,452)(3,262)(10,549)(11,174)(11,567)(38,004)
Total external revenue$453,457 $181,449 $86,161 $92,035 $50,175 $863,277 
Three Months Ended September 30, 2024
VistaPrintBrothersThe Print GroupNational PenAll OtherTotal
Revenue by Geographic Region:
North America$309,175 $— $— $52,287 $43,368 $404,830 
Europe95,657 159,368 80,907 32,007 — 367,939 
Other23,759 — — 1,442 6,999 32,200 
Inter-segment (1) 985 1,056 3,295 7,854 6,873 20,063 
   Total segment revenue (1)429,576 160,424 84,202 93,590 57,240 825,032 
Less: inter-segment elimination (1)
(985)(1,056)(3,295)(7,854)(6,873)(20,063)
Total external revenue$428,591 $159,368 $80,907 $85,736 $50,367 $804,969 
_____________________
(1) The prior-period segment results have been adjusted to ensure comparability with the updated methodology used for inter-segment transactions. Refer to the discussion above for further details.

The following tables include segment revenue and significant segment expenses by reportable segment, as well as our reported measure of segment profit or loss, EBITDA, by reportable segment for the three months ended September 30, 2025 and 2024. Total segment EBITDA shown in the tables below is prior to inter-segment eliminations. Refer to the subsequent table for a reconciliation of total segment EBITDA to income from operations and income (loss) before income taxes.
Three Months Ended September 30, 2025
VistaPrintBrothersThe Print GroupNational PenAll Other
Total segment revenue (1)$454,909 $184,711 $96,710 $103,209 $61,742 
Less: Cost of revenue (1)201,921 132,136 61,031 53,362 34,185 
   Segment gross profit252,988 52,575 35,679 49,847 27,557 
Less: Advertising expenses66,504 6,009 6,100 26,596 10,574 
Less: Other operating expenses (2)111,171 25,322 16,110 28,727 12,314 
Add: Depreciation and amortization14,297 3,571 5,541 3,026 4,398 
Add: Other segment items (3)376 924 (339)58 13 
   Segment EBITDA (4)$89,986 $25,739 $18,671 $(2,392)$9,080 
Three Months Ended September 30, 2024
VistaPrintBrothersThe Print GroupNational PenAll Other
Total segment revenue (1)$429,576 $160,424 $84,202 $93,590 $57,240 
Less: Cost of revenue (1)192,037 115,233 52,090 43,653 31,294 
   Segment gross profit
237,539 45,191 32,112 49,937 25,946 
Less: Advertising expenses
65,128 5,371 5,618 27,680 10,234 
Less: Other operating expenses (2)104,861 23,089 12,483 30,075 13,604 
Add: Depreciation and amortization
13,047 3,475 5,211 3,246 4,647 
Add: Other segment items (3)545 (12)(1,160)— 107 
   Segment EBITDA (4)$81,142 $20,194 $18,062 $(4,572)$6,862 
__________________
(1) The prior-period segment results have been adjusted to ensure comparability with the updated methodology used for inter-segment transactions and the transfer of two functions between our Vista reportable segment and central and corporate costs. Refer to the discussion above for further details.
(2) For each reportable segment, other operating expenses consists primarily of marketing and selling expense (excluding advertising expenses), technology and development expense and general and administrative expense.
(3) Other segment items primarily includes certain items excluded from our definition of segment EBITDA, which includes 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.
(4) For the three months ended September 30, 2025 and 2024 total segment EBITDA was $141,084 and $121,688, respectively. In addition to the adjustments described above as part of other segment items, total segment EBITDA excludes the impact of central and corporate costs which is not considered a reportable segment, as well as the elimination of inter-segment transactions which are included in the reconciliation to income (loss) before income taxes as outlined below.
The following table includes a reconciliation of total segment EBITDA to income from operations and income (loss) before income taxes:
Three Months Ended September 30,
20252024 (1)
Total Segment EBITDA
$141,084 $121,688 
   Central and corporate costs
(38,635)(38,859)
   Elimination (2)(15,835)1 (8,459)
   Depreciation and amortization (3)(36,618)(35,546)
   Certain impairment and other adjustments
(727)614 
   Restructuring-related charges
(298)(99)
Total income from operations
48,971 39,339 
   Other income (expense), net3,453 (11,492)
   Interest Expense, net
(28,066)(31,415)
   Gain on early extinguishment of debt
— 179 
Income (loss) before income taxes
$24,358 $(3,389)
(1) The prior-period segment results have been adjusted to ensure comparability with the updated methodology used for inter-segment transactions and the transfer of two functions between our Vista reportable segment and central and corporate costs. Refer to the discussion above for further details.
(2) Includes the elimination of inter-segment profit that relates to cross-Cimpress transactions, in which the merchant business is cross charged the variable cost of fulfillment and the fulfiller business receives a markup on the cost to fulfill the related orders. These inter-segment profits are eliminated at a consolidated level. Refer to the discussion above regarding our updated methodology for inter-segment transactions for additional details.
(3) For the three months ended September 30, 2025 and 2024, depreciation and amortization includes costs within our central and corporate costs of $5,785 and $5,920, respectively.

Three Months Ended September 30,
20252024
Purchases of property, plant and equipment:
Vista$10,616 $7,526 
PrintBrothers2,404 1,367 
The Print Group9,090 3,767 
National Pen2,471 1,363 
All Other Businesses1,564 2,511 
Central and corporate costs208 467 
Total purchases of property, plant and equipment$26,353 $17,001 

Three Months Ended September 30,
20252024
Capitalization of software and website development costs:
Vista$6,563 $6,057 
PrintBrothers1,294 602 
The Print Group1,245 949 
National Pen1,035 1,100 
All Other Businesses1,312 1,499 
Central and corporate costs5,837 4,364 
Total capitalization of software and website development costs$17,286 $14,571 
The following table sets forth long-lived assets by geographic area:
 September 30, 2025June 30, 2025
Long-lived assets (1):  
United States
$70,559 $64,615 
Switzerland77,236 72,971 
Netherlands70,453 67,396 
Canada64,112 66,725 
Italy45,589 41,496 
Germany38,908 37,331 
Tunisia33,069 29,868 
France29,933 31,095 
Australia25,843 23,915 
Other81,352 112,586 
Total$537,054 $547,998 
___________________
(1) Excludes goodwill of $826,363 and $826,156, intangible assets, net of $54,116 and $58,348, and deferred tax assets of $57,905 and $61,086 as of September 30, 2025 and June 30, 2025, respectively.