A soft final quarter saw Spin Master end 2025 at a loss, though CEO Christina Miller is confident of a “return to sustainable growth” in 2026
Spin Master posted a fourth quarter operating loss of $163.7 million, down from operating income of $47.1 million in 2024, following a “challenging” few months for the company.
Revenue for the quarter was $618.2 million, a decrease of 4.8 per cent, leading to full-year 2025 revenue of $2.11 billion, a decline of 6.6 per cent from $2.26 billion the preceding year.
Spin Master’s toy and entertainment businesses saw the most significant drops, -7.9 per cent and -18.4 per cent respectively, but its digital games division saw solid growth of 21 per cent. Toy revenue declined by $39.4 million to $522.3 million due to lower sales and more promotional and markdown activity to support sell-through and inventory levels. Toys operating loss was $171.0 million compared to operating income of $31.7 million in 2024.
But Christina Miller, CEO of Spin Master, is sanguine about the company’s 2026.
“We are setting the stage to return to sustainable growth by investing in innovation in our core toy portfolio and digital platforms, expanding into higher-growth categories, and accelerating collaboration across our creative centres to unlock the full potential of our portfolio and brands,” she said.
The company is expecting stable revenue growth in the low single digits for 2026.
Spin Master’s CFO, Jonathan Roiter, said additional generated operating cash flow of $300m had given the company the ability to “make important investments into technology, supply chain diversification, toy innovation, new entertainment content and our digital platforms”.
Earlier this week, Spin Master’s UK arm announced a new distribution partnership with Kayes of Cardiff to strengthen its independent retail business, particularly with the Toymaster buying group.
