Spin Master’s Q2 revenue rose 9% with $40 million in PAW Patrol orders
Spin Master’s Q2 performance exceeded expectations, driven by strong core brands and approximately $40 million of PAW Patrol movie-related orders pulled forward from Q3.
The company’s toy revenue increased 12%, while adjusted EBITDA surged 80%, supported by gross-profit gains, lower marketing costs, and $38 million in tariff refunds.
Spin Master reaffirmed its full-year guidance, targeting stable to low-single-digit 2026 revenue growth and mid- to upper-single-digit adjusted EBITDA growth.
The company expects higher toy costs, entertainment amortization, and deferred digital marketing spending to reduce Q3 gross margin by roughly two percentage points.