Squishmallows Parent Company Jazwares Reports Record Q1 2026 Earnings
Jazwares, the Florida-based toy company behind the wildly successful Squishmallows brand, has reported record-breaking first quarter earnings for 2026. The results, announced on April 3, 2026, beat Wall Street expectations across every major metric and ignited fresh optimism about the collectible plush market's staying power.
The company posted Q1 2026 revenue of $1.47 billion, a 28% jump from Q1 2025's $1.15 billion. Net income hit $312 million, up 35% year-over-year, with operating margins expanding to a company-record 21.2%. Squishmallows alone drove roughly $890 million in revenue — the highest single-quarter figure ever recorded for a plush toy brand.
What's Driving the Growth
The blockbuster quarter was fueled by multiple engines. The Squishmallows Squishy Pets interactive line, priced from $24.99 to $49.99, generated $145 million in its first quarter on shelves. New licensing deals with Disney, Pokémon, and the NFL drove collector frenzy — the Disney Villains series sold out within 72 hours at Target, Walmart, and Five Below.
The biggest retail news: an expanded Walmart partnership will give Squishmallows dedicated permanent aisle space in all 4,700 US locations by Q3 2026, joining the elite company of LEGO and Barbie. Target, Costco, and Five Below continue as major stockists, with Costco's exclusive jumbo sizes consistently ranking among the chain's top-selling non-food items.
"Squishmallows has transcended the toy category to become a lifestyle brand. We're seeing them in dorm rooms, offices, therapy practices, and even luxury fashion collaborations. The addressable market is far larger than traditional plush." — Laura Zebersky, President and COO of Jazwares
What This Means for Collectors
Over 200 new designs are planned for the rest of 2026, including a highly anticipated Studio Ghibli collaboration in Q3. A new "Collector's Circle" loyalty program launches in June, offering early access to limited releases and authentication certificates for premium editions — aimed at curbing the bot-driven reselling that has frustrated genuine collectors.
Adults now account for 40% of plush toy purchases in the US, up from under 15% in 2019. NPD Group analyst Sarah Chen called the results "unprecedented," noting: "To generate nearly $900 million from a single plush brand in one quarter is extraordinary. Squishmallows is rewriting the rules." The plush market appears to be in a golden age, and Jazwares' numbers suggest the growth curve hasn't peaked.
Jazwares releases full H1 2026 results in July. The Squishmallows x Studio Ghibli launch is expected September 2026.