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    Krispy Kreme Reports First Quarter 2025 Financial Results

    5/8/25 6:45:00 AM ET
    $DNUT
    Food Chains
    Consumer Staples
    Get the next $DNUT alert in real time by email

    First quarter Net Revenue of $375.2 million, Organic Revenue decreases 1.0%

    Krispy Kreme, Inc. (NASDAQ:DNUT) ("Krispy Kreme", "KKI", or the "Company") today reported financial results for the quarter ended March 30, 2025.

    First Quarter Highlights (vs Q1 2024)

    • Net revenue of $375.2 million
    • Organic revenue declined 1.0% to $374.7 million
    • GAAP net loss of $33.4 million
    • Adjusted EBITDA of $24.0 million
    • GAAP cash used for operating activities of $20.8 million
    • Global Points of Access ("POA") increased 3,168, or 21.4%, to 17,982

    In the first quarter, Krispy Kreme spotlighted its most popular and most affordable Original Glazed doughnut to increasingly value-conscious consumers while also delivering buzzworthy Valentine's and St. Patrick's Day offerings. The Company continued to grow Delivered Fresh Daily and prepared for the early second quarter launch of outsourced U.S. logistics.

    "Our ability to become a bigger Krispy Kreme requires that we become better, and we are taking swift and decisive action to pay down debt, de-leverage the balance sheet and drive sustainable, profitable growth," said Krispy Kreme CEO, Josh Charlesworth. "While we expect the macro environment to remain challenging, we are focused on positive cash flow, higher returns on capital, and our two biggest opportunities: profitable U.S. expansion and capital-light international franchise growth."

    Financial Highlights

     

    Quarter Ended

    $ in millions, except per share data

     

    March 30, 2025

     

    March 31, 2024

     

    Change

    GAAP:

     

     

     

     

     

     

    Net revenue

     

    $

    375.2

     

     

    $

    442.7

     

     

     

    (15.3)%

    Operating (loss)/income

     

    $

    (20.3

    )

     

    $

    11.9

     

     

     

    (270.2)%

    Operating (loss)/income margin

     

     

    (5.4

    )%

     

     

    2.7

    %

     

    (810) bps

    Net loss

     

    $

    (33.4

    )

     

    $

    (6.7

    )

     

     

    (401.4)%

    Net loss attributable to KKI

     

    $

    (33.3

    )

     

    $

    (8.5

    )

     

     

    (290.0)%

    Diluted loss per share

     

    $

    (0.20

    )

     

    $

    (0.05

    )

     

    $

    (0.15)

     

     

     

     

     

     

     

    Non-GAAP (1):

     

     

     

     

     

     

    Organic revenue

     

    $

    374.7

     

     

    $

    378.4

     

     

     

    (1.0)%

    Adjusted net (loss)/income, diluted

     

    $

    (8.8

    )

     

    $

    11.3

     

     

     

    (178.1)%

    Adjusted EBITDA

     

    $

    24.0

     

     

    $

    58.2

     

     

     

    (58.8)%

    Adjusted EBITDA margin

     

     

    6.4

    %

     

     

    13.1

    %

     

    (670) bps

    Adjusted diluted (loss)/income per share

     

    $

    (0.05

    )

     

    $

    0.07

     

     

    $

    (0.12)

    Notes:

    (1) Non-GAAP figures - please refer to "Non-GAAP Measures" and "Reconciliation of Non-GAAP Financial Measures."

     

     

    Key Operating Metrics

     

    Quarter Ended

    $ in millions

     

    March 30, 2025

     

    March 31, 2024

     

    Change

    Global Points of Access

     

     

    17,982

     

     

     

    14,814

     

     

    21.4%

    Sales per Hub (U.S.) trailing four quarters

     

    $

    4.8

     

     

    $

    4.9

     

     

    (2.0)%

    Sales per Hub (International) trailing four quarters

     

    $

    9.8

     

     

    $

    9.9

     

     

    (1.0)%

    Digital Sales as a Percent of Doughnut Shop Sales

     

     

    16.9

    %

     

     

    16.6

    %

     

    30 bps

    First Quarter 2025 Consolidated Results (vs Q1 2024)

    Krispy Kreme's first quarter results reflect continued investment ahead of growth in the Company's U.S. nationwide expansion and wider adoption of the capital-light international franchise model. Net revenue was $375.2 million in the first quarter of 2025, a decline of 15.3% or $67.5 million, primarily due to the $64.3 million reduction associated with the divestiture of a majority stake in Insomnia Cookies in the third quarter of fiscal 2024. In line with expectations, organic revenue declined $3.6 million, or approximately 1.0%, as growth in Global Points of Access and Delivered Fresh Daily ("DFD") revenues were more than offset by expected consumer softness leading to a decline in doughnut shop transaction volume.

    GAAP Net Loss was $33.4 million, compared to prior year net loss of $6.7 million. GAAP diluted loss per share was $0.20, compared to a loss of $0.05 in the same quarter last year.

    Adjusted EBITDA declined to $24.0 million, with Adjusted EBITDA Margin declining to 6.4% as the Company invests ahead of growth and navigates a challenged global consumer backdrop linked to macroeconomic, weather, and inflationary factors. Adjusted Net Loss, diluted was $8.8 million in the quarter. Adjusted Diluted loss per share was $0.05 in the quarter.

    First Quarter 2025 Segment Results (vs Q1 2024)

    U.S.: In the U.S. segment, net revenue declined $59.4 million, or 20.1%, primarily due to the $64.3 million reduction associated with the sale of a majority stake in Insomnia Cookies. Organic revenue declined $6.1 million, or 2.6%, as Points of Access growth of 34.9% was more than offset by expected consumer softness. Average revenue per door per week ("APD") declined to $587, reflecting shifting customer mix, with Sales Per Hub of $4.8 million.

    U.S. Adjusted EBITDA decreased $26.7 million, or 62.7%, with margin declining 770 basis points to 6.7%, primarily driven by a decline in operating leverage, costs associated with our U.S. nationwide expansion, and an estimated $5.0 million in operational inefficiencies related to the 2024 Cybersecurity Incident.

    International: In the International segment, net revenue declined $5.1 million, or approximately 4.1%, primarily due to foreign currency translation impacts of $8.4 million. International organic revenue grew $1.9 million, or approximately 1.5%, driven primarily by growth in Canada. Points of Access growth of 6.3% was partially offset by closures in Japan and Mexico to optimize the DFD network.

    International segment Adjusted EBITDA declined $5.6 million, or 27.5%, with a margin decline of 400 basis points to 12.5% due to lower transaction volumes impacting operating leverage. Our new management team in the U.K. has embarked on a strategy to revitalize the brand's consumer relevance by bringing back family-centric offerings and an updated price pack architecture.

    Market Development: In the Market Development segment, net revenue declined $3.0 million, or approximately 13.7%, reflecting a $3.6 million impact of franchise acquisitions and lower equipment sales, offset by growth in new and existing markets. Market Development organic revenue increased $0.6 million, or 2.7%, driven by the successful expansion of our international franchise businesses including in the Middle East and the launch of DFD in France.

    Market Development Adjusted EBITDA decreased $0.9 million, or 7.2%, while margin improved 400 basis points to 58.1% driven by revenue mix and greater contribution from international franchisees.

    Balance Sheet and Capital Expenditures

    During the first quarter of 2025, the Company invested $25.9 million, or 6.9% of net revenue, in capital expenditures, primarily in the U.S. to support bringing doughnuts closer to our consumers via nationwide expansion.

    Subsequent to the end of the quarter, the Company amended its existing credit agreement to establish incremental term loan commitments in an aggregate principal amount of $125.0 million dollars. The Company expects to use the incremental capacity primarily to pay down its revolving credit facility. The amendment carries identical terms as the existing credit agreement regarding maturity date and interest rates.

    Capital Allocation and Dividend Policy

    As previously announced, the Company continues to evaluate opportunities to refranchise certain international markets including Australia and New Zealand, Japan, Mexico, and the U.K. and Ireland.

    Following a review of the Company's capital allocation strategy and investments available to fuel our growth, the Company has made the decision to no longer pay quarterly cash dividends to holders of the Company's common stock. This decision provides greater financial flexibility, enabling debt paydown and a focus on profitable, high return growth.

    Financial Outlook

    As of March 30, 2025, Krispy Kreme doughnuts are now available in more than 2,400 McDonald's restaurants. The Company is reassessing the deployment schedule together with McDonald's while it works to achieve a profitable business model for all parties and does not expect to launch in any additional restaurants in the second quarter of 2025.

    Krispy Kreme continues to believe in the long-term opportunity of profitable growth through the U.S. nationwide expansion including McDonald's.

    Given macroeconomic softness and the uncertainty around the McDonald's deployment schedule, the Company is withdrawing its prior full year outlook and not updating it at this time. Regarding the second quarter of 2025, the Company expects to deliver:

    • Net Revenue of $370 to $385 million
    • Adjusted EBITDA(1) of $30 to $35 million

    Notes:

    (1) Non-GAAP figures. The Company does not reconcile forward-looking non-GAAP measures. See "Non-GAAP Measures."

    Definitions

    The following definitions apply to terms used throughout this press release:

    • Global Points of Access: Reflects all locations at which fresh doughnuts can be purchased. We define global points of access to include all Hot Light Theater Shops, Fresh Shops, Carts and Food Trucks, DFD Doors (which includes DFD branded cabinets and merchandising units within high traffic grocery and convenience stores, quick service or fast casual restaurants ("QSR"), club memberships, and drug stores) and Cookie Bakeries (through the date of the Insomnia Cookies divestiture), and other points at which fresh doughnuts can be purchased at both Company-owned and franchise locations as of the end of the applicable reporting period. We monitor Global Points of Access as a metric that informs the growth of our omni-channel presence over time and believe this metric is useful to investors to understand our footprint in each of our segments and by asset type.
    • Hubs: Reflects locations where fresh doughnuts are produced and processed for sale at any point of access. We define Hubs to include self-sustaining Hot Light Theater Shops and Doughnut Factories, at both Company-owned and franchise locations as of the end of the applicable reporting period.
    • Hubs with Spokes: Reflects Hubs currently producing product for other Fresh Shops, Carts and Food Trucks, or DFD Doors, and excludes Hubs not currently producing product for other shops, Carts and Food Trucks, or DFD Doors.
    • Sales Per Hub: Sales per Hub equals Fresh Revenues from Hubs with Spokes, divided by the average number of Hubs with Spokes at the end of each of the five most recent quarters.
    • Fresh Revenues from Hubs with Spokes: Fresh Revenues is a measure focused on the Krispy Kreme doughnut business and includes product sales generated from our Hot Light Theater Shops, Fresh Shops, Carts and Food Trucks, DFD Doors, and digital channels and excludes sales from Cookie Bakeries and Branded Sweet Treats (through the date of the Insomnia cookies divestiture and Branded Sweet Treats exit, respectively). Fresh Revenues from Hubs with Spokes equals the Fresh Revenues derived from Hubs with Spokes.
    • Free Cash Flow: Defined as cash provided by operating activities less purchases of property and equipment.

    Conference Call

    Krispy Kreme will host a public conference call and webcast at 8:30 AM Eastern Time today to discuss its results for the first quarter of 2025. To register for the conference call, please use this link. After registering, confirmation will be sent through email, including dial-in details and unique conference call codes for entry. To listen to the live webcast and Q&A, visit the Krispy Kreme investor relations website at investors.krispykreme.com. A replay of the webcast will be available on the website within 24 hours after the call. This earnings press release and related materials will also be available on the investor relations section of the Company's website.

    Investor Relations

    [email protected]



    Financial Media

    ICR for Krispy Kreme, Inc.

    [email protected]

    About Krispy Kreme

    Headquartered in Charlotte, N.C., Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world. Our iconic Original Glazed® doughnut is universally recognized for its hot-off-the-line, melt-in-your-mouth experience. Krispy Kreme operates in more than 40 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing digital business with more than 17,900 fresh points of access. Our purpose of touching and enhancing lives through the joy that is Krispy Kreme guides how we operate every day and is reflected in the love we have for our people, our communities and the planet. Connect with Krispy Kreme Doughnuts at www.KrispyKreme.com, or on one of its many social media channels, including www.Facebook.com/KrispyKreme and www.X.com/KrispyKreme.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of forward-looking terminology, including terms such as "plan," "believe," "may," "continue," "guidance," "could," "will," "should," "would," "anticipate," "estimate," "expect," "intend," "objective," "seek," "strive" or, in each case, the negatives of these words, comparable terminology, or similar references to future periods; however, statements may be forward-looking whether or not these terms or their negatives are used. Forward-looking statements are not a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Our actual results could differ materially from the forward-looking statements included in this press release. We consider the assumptions and estimates on which our forward-looking statements are based to be reasonable, but they are subject to various risks and uncertainties relating to our operations, financial results, financial conditions, business, prospects, future plans and strategies, projections, liquidity, the economy, and other future conditions. Therefore, you should not place undue reliance on any of these forward-looking statements. Important factors could cause our actual results to differ materially from those contained in forward-looking statements including, without limitation: food safety issues, including risks of food-borne illnesses, tampering, contamination, and cross-contamination; impacts from the 2024 Cybersecurity Incident or any other material failure, inadequacy, or interruption of our information technology systems, including breaches or failures of such systems or other cybersecurity or data security-related incidents; any harm to our reputation or brand image; changes in consumer preferences or demographic trends; changes in the cost of raw materials and other commodities, including due to import and export requirements (including tariffs), inflation, or foreign exchange rates; our ability to execute on our omni-channel business strategy; regulatory investigations, enforcement actions, or material litigation; and other risks and uncertainties described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 29, 2024, filed by us with the Securities and Exchange Commission (the "SEC") and in other filings we make from time to time with the SEC. These forward-looking statements are made only as of the date of this document, and we undertake no obligation to publicly update or revise any forward-looking statement whether as a result of new information, future events, or otherwise, except as may be required by law.

    Non-GAAP Measures

    This press release includes certain financial information that is not presented in conformity with accounting principles generally accepted in the U.S. ("GAAP"). These non-GAAP financial measures include organic revenue growth/(decline), Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBIT, Adjusted Net Income, Diluted, Adjusted EPS, Free Cash Flow, Net Debt, Fresh Revenue from Hubs with Spokes and Sales per Hub. These non-GAAP financial measures are not standardized, and it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names, limiting their usefulness as comparative measures. Other companies may calculate similarly titled financial measures differently than we do or may not calculate them at all. Additionally, these non-GAAP financial measures are not measurements of financial performance under GAAP or a substitute for results reported under GAAP. In order to facilitate a clear understanding of our consolidated historical operating results, we urge you to review our non-GAAP financial measures in conjunction with our historical consolidated financial statements and notes thereto filed with the SEC and not to rely on any single financial measure.

    The Company does not provide reconciliations of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure because it is unable to predict with reasonable certainty or without unreasonable effort non-recurring items, such as those reflected in our reconciliation of historic numbers. The variability of these items is unpredictable and may have a significant impact.

    See "Reconciliation of Non-GAAP Financial Measures" below for a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.

     

    Krispy Kreme, Inc.

    Condensed Consolidated Statements of Operations (Unaudited)

    (in thousands, except per share amounts)

     
     

     

    Quarter Ended

     

    March 30,

    2025 (13 weeks)

     

    March 31,

    2024 (13 weeks)

    Net revenues

     

     

     

    Product sales

    $

    366,479

     

     

    $

    433,512

     

    Royalties and other revenues

     

    8,705

     

     

     

    9,186

     

    Total net revenues

     

    375,184

     

     

     

    442,698

     

    Product and distribution costs

     

    90,736

     

     

     

    107,015

     

    Operating expenses

     

    198,843

     

     

     

    205,195

     

    Selling, general and administrative expense

     

    59,405

     

     

     

    71,574

     

    Marketing expenses

     

    10,239

     

     

     

    12,115

     

    Pre-opening costs

     

    929

     

     

     

    1,105

     

    Other expenses, net

     

    1,400

     

     

     

    200

     

    Depreciation and amortization expense

     

    33,901

     

     

     

    33,586

     

    Operating (loss)/income

     

    (20,269

    )

     

     

    11,908

     

    Interest expense, net

     

    16,196

     

     

     

    13,736

     

    Other non-operating (income)/expense, net

     

    (393

    )

     

     

    573

     

    Loss before income taxes

     

    (36,072

    )

     

     

    (2,401

    )

    Income tax (benefit)/expense

     

    (2,667

    )

     

     

    4,262

     

    Net loss

     

    (33,405

    )

     

     

    (6,663

    )

    Net (loss)/income attributable to noncontrolling interest

     

    (121

    )

     

     

    1,871

     

    Net loss attributable to Krispy Kreme, Inc.

    $

    (33,284

    )

     

    $

    (8,534

    )

    Net loss per share:

     

     

     

    Common stock — Basic

    $

    (0.20

    )

     

    $

    (0.05

    )

    Common stock — Diluted

    $

    (0.20

    )

     

    $

    (0.05

    )

    Weighted average shares outstanding:

     

     

     

    Basic

     

    170,291

     

     

     

    168,685

     

    Diluted

     

    170,291

     

     

     

    168,685

     

     

    Krispy Kreme, Inc.

    Condensed Consolidated Balance Sheets

    (in thousands, except per share data)

     

     

    As of

     

    (Unaudited)

    March 30,


    2025

     

    December 29,

    2024

    ASSETS

     

     

     

    Current assets:

     

     

     

    Cash and cash equivalents

    $

    18,722

     

     

    $

    28,962

     

    Restricted cash

     

    445

     

     

     

    353

     

    Accounts receivable, net

     

    69,315

     

     

     

    67,722

     

    Inventories

     

    31,524

     

     

     

    28,133

     

    Taxes receivable

     

    16,927

     

     

     

    16,155

     

    Prepaid expense and other current assets

     

    21,053

     

     

     

    31,615

     

    Total current assets

     

    157,986

     

     

     

    172,940

     

    Property and equipment, net

     

    539,014

     

     

     

    511,139

     

    Goodwill

     

    1,052,636

     

     

     

    1,047,581

     

    Other intangible assets, net

     

    813,869

     

     

     

    819,934

     

    Operating lease right of use asset, net

     

    416,065

     

     

     

    409,869

     

    Investments in unconsolidated entities

     

    90,774

     

     

     

    91,070

     

    Other assets

     

    18,979

     

     

     

    19,497

     

    Total assets

    $

    3,089,323

     

     

    $

    3,072,030

     

    LIABILITIES AND SHAREHOLDERS' EQUITY

     

     

     

    Current liabilities:

     

     

     

    Current portion of long-term debt

    $

    54,629

     

     

    $

    56,356

     

    Current operating lease liabilities

     

    50,895

     

     

     

    46,620

     

    Accounts payable

     

    117,181

     

     

     

    123,316

     

    Accrued liabilities

     

    115,025

     

     

     

    124,212

     

    Structured payables

     

    111,726

     

     

     

    135,668

     

    Total current liabilities

     

    449,456

     

     

     

    486,172

     

    Long-term debt, less current portion

     

    934,967

     

     

     

    844,547

     

    Noncurrent operating lease liabilities

     

    410,219

     

     

     

    405,366

     

    Deferred income taxes, net

     

    118,992

     

     

     

    130,745

     

    Other long-term obligations and deferred credits

     

    44,272

     

     

     

    40,768

     

    Total liabilities

     

    1,957,906

     

     

     

    1,907,598

     

    Commitments and contingencies

     

     

     

    Shareholders' equity:

     

     

     

    Common stock, $0.01 par value; 300,000 shares authorized as of both March 30, 2025 and December 29, 2024; 170,300 and 170,060 shares issued and outstanding as of March 30, 2025 and December 29, 2024, respectively

     

    1,703

     

     

     

    1,701

     

    Additional paid-in capital

     

    1,468,883

     

     

     

    1,466,508

     

    Shareholder note receivable

     

    (1,782

    )

     

     

    (1,906

    )

    Accumulated other comprehensive loss, net of income tax

     

    (28,282

    )

     

     

    (32,128

    )

    Retained deficit

     

    (338,891

    )

     

     

    (299,638

    )

    Total shareholders' equity attributable to Krispy Kreme, Inc.

     

    1,101,631

     

     

     

    1,134,537

     

    Noncontrolling interest

     

    29,786

     

     

     

    29,895

     

    Total shareholders' equity

     

    1,131,417

     

     

     

    1,164,432

     

    Total liabilities and shareholders' equity

    $

    3,089,323

     

     

    $

    3,072,030

     

     

    Krispy Kreme, Inc.

    Condensed Consolidated Statements of Cash Flows (Unaudited)

    (in thousands)

     
     

     

    Quarter Ended

     

    March 30,

    2025 (13 weeks)

     

    March 31,

    2024 (13 weeks)

    CASH FLOWS USED FOR OPERATING ACTIVITIES:

     

     

     

    Net loss

    $

    (33,405

    )

     

    $

    (6,663

    )

    Adjustments to reconcile net loss to net cash used for operating activities:

     

     

     

    Depreciation and amortization expense

     

    33,901

     

     

     

    33,586

     

    Deferred and other income taxes

     

    (10,668

    )

     

     

    214

     

    Impairment and lease termination charges

     

    162

     

     

     

    247

     

    Loss/(gain) on disposal of property and equipment

     

    189

     

     

     

    (49

    )

    Share-based compensation

     

    2,603

     

     

     

    6,986

     

    Change in accounts and notes receivable allowances

     

    202

     

     

     

    113

     

    Inventory write-off

     

    848

     

     

     

    411

     

    Amortization related to settlement of interest rate swap derivatives

     

    —

     

     

     

    (2,955

    )

    Other

     

    1,225

     

     

     

    788

     

    Change in operating assets and liabilities, excluding foreign currency translation adjustments

     

    (15,891

    )

     

     

    (50,383

    )

    Net cash used for operating activities

     

    (20,834

    )

     

     

    (17,705

    )

    CASH FLOWS USED FOR INVESTING ACTIVITIES:

     

     

     

    Purchase of property and equipment

     

    (25,897

    )

     

     

    (29,064

    )

    Other investing activities

     

    86

     

     

     

    19

     

    Net cash used for investing activities

     

    (25,811

    )

     

     

    (29,045

    )

    CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:

     

     

     

    Proceeds from the issuance of debt

     

    182,500

     

     

     

    179,500

     

    Repayment of long-term debt and lease obligations

     

    (115,622

    )

     

     

    (132,343

    )

    Proceeds from structured payables

     

    118,908

     

     

     

    101,287

     

    Payments on structured payables

     

    (142,868

    )

     

     

    (97,416

    )

    Capital contribution by shareholders, net of loans issued

     

    —

     

     

     

    232

     

    Distribution to shareholders

     

    (5,961

    )

     

     

    (5,902

    )

    Payments for repurchase and retirement of common stock

     

    (123

    )

     

     

    (804

    )

    Distribution to noncontrolling interest

     

    (36

    )

     

     

    (977

    )

    Net cash provided by financing activities

     

    36,798

     

     

     

    43,577

     

    Effect of exchange rate changes on cash, cash equivalents and restricted cash

     

    (301

    )

     

     

    (1,829

    )

    Net decrease in cash, cash equivalents and restricted cash

     

    (10,148

    )

     

     

    (5,002

    )

    Cash, cash equivalents and restricted cash at beginning of period

     

    29,315

     

     

     

    38,614

     

    Cash, cash equivalents and restricted cash at end of period

    $

    19,167

     

     

    $

    33,612

     

     

     

     

     

    Net cash used for operating activities

    $

    (20,834

    )

     

    $

    (17,705

    )

    Less: Purchase of property and equipment

     

    (25,897

    )

     

     

    (29,064

    )

    Free cash flow

    $

    (46,731

    )

     

    $

    (46,769

    )

     
     

    Krispy Kreme, Inc.

    Reconciliation of Non-GAAP Financial Measures (Unaudited)

    (in thousands, except per share amounts)

    We define "Adjusted EBITDA" as earnings before interest expense, net, income tax expense, and depreciation and amortization, with further adjustments for share-based compensation, certain strategic initiatives, acquisition and integration expenses, and certain other non-recurring, infrequent, or non-core income and expense items. Adjusted EBITDA is a principal metric that management uses to monitor and evaluate operating performance and provides a consistent benchmark for comparison across reporting periods. "Adjusted EBITDA margin" reflects Adjusted EBITDA as a percentage of net revenues.

    We define "Adjusted EBIT" as earnings before interest expense, net and income tax expense, with further adjustments for share-based compensation, certain strategic initiatives, acquisition and integration expenses, amortization of acquisition-related intangibles, and certain other non-recurring, infrequent, or non-core income and expense items. Adjusted EBIT is a principal metric that management uses to monitor and evaluate operating performance and provides a consistent benchmark for comparison across reporting periods.

    We define "Adjusted Net Income, Diluted" as net loss attributable to common shareholders, adjusted for share-based compensation, certain strategic initiatives, acquisition and integration expenses, amortization of acquisition-related intangibles, the tax impact of adjustments, and certain other non-recurring, infrequent, or non-core income and expense items. "Adjusted EPS" is Adjusted Net Income, Diluted converted to a per share amount.

    Adjusted EBITDA, Adjusted EBIT, Adjusted Net Income, Diluted, and Adjusted EPS have certain limitations, including adjustments for income and expense items that are required by GAAP. In evaluating these non-GAAP measures, you should be aware that in the future we will incur expenses that are the same as or similar to some of the adjustments in this presentation, such as share-based compensation. Our presentation of these non-GAAP measures should not be construed to imply that our future results will be unaffected by any such adjustments. Management compensates for these limitations by relying on our GAAP results in addition to using these non-GAAP measures supplementally.

     

    Quarter Ended

    (in thousands)

    March 30, 2025

     

    March 31, 2024

    Net loss

    $

    (33,405

    )

     

    $

    (6,663

    )

    Interest expense, net

     

    16,196

     

     

     

    13,736

     

    Income tax (benefit)/expense

     

    (2,667

    )

     

     

    4,262

     

    Share-based compensation

     

    2,603

     

     

     

    6,986

     

    Employer payroll taxes related to share-based compensation

     

    166

     

     

     

    43

     

    Other non-operating (income)/expense, net (1)

     

    (393

    )

     

     

    573

     

    Strategic initiatives (2)

     

    2,353

     

     

     

    4,821

     

    Acquisition and integration expenses (3)

     

    71

     

     

     

    248

     

    New market penetration expenses (4)

     

    75

     

     

     

    466

     

    Store closure expenses, net (5)

     

    272

     

     

     

    139

     

    Restructuring and severance expenses (6)

     

    108

     

     

     

    6

     

    Other (7)

     

    4,700

     

     

     

    (15

    )

    Amortization of acquisition related intangibles (8)

     

    7,661

     

     

     

    7,420

     

    Adjusted EBIT

    $

    (2,260

    )

     

    $

    32,022

     

    Depreciation expense and amortization of right of use assets

     

    26,240

     

     

     

    26,166

     

    Adjusted EBITDA

    $

    23,980

     

     

    $

    58,188

     

     

     

    Quarter Ended

    (in thousands)

    March 30, 2025

     

    March 31, 2024

    Segment Adjusted EBITDA:

     

     

     

    U.S

    $

    15,911

     

     

    $

    42,616

     

    International

     

    14,897

     

     

     

    20,536

     

    Market Development

     

    11,047

     

     

     

    11,900

     

    Corporate

     

    (17,875

    )

     

     

    (16,864

    )

    Total Adjusted EBITDA

    $

    23,980

     

     

    $

    58,188

     

     

     

    Quarter Ended

    (in thousands, except per share amounts)

    March 30, 2025

     

    March 31, 2024

    Net loss

    $

    (33,405

    )

     

    $

    (6,663

    )

    Share-based compensation

     

    2,603

     

     

     

    6,986

     

    Employer payroll taxes related to share-based compensation

     

    166

     

     

     

    43

     

    Other non-operating (income)/expense, net (1)

     

    (393

    )

     

     

    573

     

    Strategic initiatives (2)

     

    2,353

     

     

     

    4,821

     

    Acquisition and integration expenses (3)

     

    71

     

     

     

    248

     

    New market penetration expenses (4)

     

    75

     

     

     

    466

     

    Store closure expenses, net (5)

     

    272

     

     

     

    139

     

    Restructuring and severance expenses (6)

     

    108

     

     

     

    6

     

    Other (7)

     

    4,700

     

     

     

    (15

    )

    Amortization of acquisition related intangibles (8)

     

    7,661

     

     

     

    7,420

     

    Tax impact of adjustments (9)

     

    6,830

     

     

     

    (224

    )

    Tax specific adjustments (10)

     

    —

     

     

     

    (589

    )

    Net loss/(income) attributable to noncontrolling interest

     

    121

     

     

     

    (1,871

    )

    Adjusted net (loss)/income attributable to common shareholders - Basic

    $

    (8,838

    )

     

    $

    11,340

     

    Additional income attributed to noncontrolling interest due to subsidiary potential common shares

     

    (2

    )

     

     

    (19

    )

    Adjusted net (loss)/income attributable to common shareholders - Diluted

    $

    (8,840

    )

     

    $

    11,321

     

    Basic weighted average common shares outstanding

     

    170,291

     

     

     

    168,685

     

    Dilutive effect of outstanding common stock options, RSUs, and PSUs

     

    —

     

     

     

    2,488

     

    Diluted weighted average common shares outstanding

     

    170,291

     

     

     

    171,173

     

    Adjusted net (loss)/income per share attributable to common shareholders:

     

     

     

    Basic

    $

    (0.05

    )

     

    $

    0.07

     

    Diluted

    $

    (0.05

    )

     

    $

    0.07

     

    (1)

    Primarily foreign translation gains and losses in each period. The quarter ended March 30, 2025 also consists of equity method income from Insomnia Cookies following the divestiture of a controlling interest in Insomnia Cookies during fiscal 2024.

    (2)

    The quarter ended March 30, 2025 consists primarily of costs associated with preparing for and executing the U.S. national expansion (including McDonald's), and the evaluation of potential opportunities to refranchise certain equity markets. The quarter ended March 31, 2024 consists primarily of costs associated with global transformation, exploring strategic alternatives for the Insomnia Cookies business, and preparing for the U.S. national expansion (including McDonald's).

    (3)

    Consists of acquisition and integration-related costs in connection with the Company's business and franchise acquisitions, including legal, due diligence, and advisory fees incurred in connection with acquisition and integration-related activities for the applicable period.

    (4)

    Consists of start-up costs associated with entry into new countries for which the Company's brands have not previously operated, including Brazil and Spain.

    (5)

    Includes lease termination costs, impairment charges, and loss on disposal of property, plant and equipment.

    (6)

    The quarter ended March 30, 2025 consists primarily of costs associated with restructuring of the U.S. and U.K. executive teams.

    (7)

    The quarter ended March 30, 2025 consists primarily of $4.4 million in costs related to remediation of the 2024 Cybersecurity Incident, including fees for cybersecurity experts and other advisors.

    (8)

    Consists of amortization related to acquired intangible assets as reflected within depreciation and amortization in the Condensed Consolidated Statements of Operations.

    (9)

    Tax impact of adjustments calculated applying the applicable statutory rates. The quarters ended March 30, 2025 and March 31, 2024 also include the impact of disallowed executive compensation expense.

    (10)

    The quarter ended March 31, 2024 consists of the recognition of a previously unrecognized tax benefit unrelated to ongoing operations and a discrete tax benefit unrelated to ongoing operations.

     

    Krispy Kreme, Inc.

    Segment Reporting (Unaudited)

    (in thousands, except percentages or otherwise stated)

     
     

     

    Quarter Ended

     

    March 30, 2025

     

    March 31, 2024

    Net revenues:

     

     

     

    U.S.

    $

    236,544

     

    $

    295,935

    International

     

    119,635

     

     

    124,750

    Market Development

     

    19,005

     

     

    22,013

    Total net revenues

    $

    375,184

     

    $

    442,698

    Organic revenue growth measures our revenue growth trends excluding the impact of acquisitions, divestitures, and foreign currency, and we believe it is useful for investors to understand the expansion of our global footprint through internal efforts. We define "organic revenue growth" as the growth in revenues, excluding (i) acquired shops owned by us for less than 12 months following their acquisition, (ii) the impact of foreign currency exchange rate changes, (iii) the impact of shop closures related to restructuring programs, (iv) the impact of the divestiture of Insomnia Cookies, and (v) revenues generated during the 53rd week for those fiscal years that have a 53rd week based on our fiscal calendar.

    Q1 2025 Organic Revenue - QTD

    (in thousands, except percentages)

    U.S.

     

    International

     

    Market

    Development

     

    Total Company

    Total net revenues in first quarter of fiscal 2025

    $

    236,544

     

     

    $

    119,635

     

     

    $

    19,005

     

     

    $

    375,184

     

    Total net revenues in first quarter of fiscal 2024

     

    295,935

     

     

     

    124,750

     

     

     

    22,013

     

     

     

    442,698

     

    Total Net Revenues Decline

     

    (59,391

    )

     

     

    (5,115

    )

     

     

    (3,008

    )

     

     

    (67,514

    )

    Total Net Revenues Decline %

     

    -20.1

    %

     

     

    -4.1

    %

     

     

    -13.7

    %

     

     

    -15.3

    %

    Less: Impact of Insomnia Cookies divestiture

     

    (64,319

    )

     

     

    —

     

     

     

    —

     

     

     

    (64,319

    )

    Adjusted net revenues in first quarter of fiscal 2024

     

    231,616

     

     

     

    124,750

     

     

     

    22,013

     

     

     

    378,379

     

    Adjusted net revenue (decline)/growth

     

    4,928

     

     

     

    (5,115

    )

     

     

    (3,008

    )

     

     

    (3,195

    )

    Impact of acquisitions

     

    (11,043

    )

     

     

    (1,365

    )

     

     

    3,598

     

     

     

    (8,810

    )

    Impact of foreign currency translation

     

    —

     

     

     

    8,359

     

     

     

    —

     

     

     

    8,359

     

    Organic Revenue (Decline)/Growth

    $

    (6,115

    )

     

    $

    1,879

     

     

    $

    590

     

     

    $

    (3,646

    )

    Organic Revenue (Decline)/Growth %

     

    -2.6

    %

     

     

    1.5

    %

     

     

    2.7

    %

     

     

    -1.0

    %

     
     

    Q1 2024 Organic Revenue - QTD

    (in thousands, except percentages)

    U.S.

     

    International

     

    Market

    Development

     

    Total Company

    Total net revenues in first quarter of fiscal 2024

    $

    295,935

     

     

    $

    124,750

     

     

    $

    22,013

     

     

    $

    442,698

     

    Total net revenues in first quarter of fiscal 2023

     

    281,344

     

     

     

    111,988

     

     

     

    25,618

     

     

     

    418,950

     

    Total Net Revenues Growth/(Decline)

     

    14,591

     

     

     

    12,762

     

     

     

    (3,605

    )

     

     

    23,748

     

    Total Net Revenues Growth/(Decline) %

     

    5.2

    %

     

     

    11.4

    %

     

     

    -14.1

    %

     

     

    5.7

    %

    Less: Impact of shop optimization program closures

     

    (316

    )

     

     

    —

     

     

     

    —

     

     

     

    (316

    )

    Less: Impact of Branded Sweet Treats exit

     

    (5,367

    )

     

     

    —

     

     

     

    —

     

     

     

    (5,367

    )

    Adjusted net revenues in first quarter of fiscal 2023

     

    275,661

     

     

     

    111,988

     

     

     

    25,618

     

     

     

    413,267

     

    Adjusted net revenue growth/(decline)

     

    20,274

     

     

     

    12,762

     

     

     

    (3,605

    )

     

     

    29,431

     

    Impact of foreign currency translation

     

    —

     

     

     

    (1,836

    )

     

     

    —

     

     

     

    (1,836

    )

    Organic Revenue Growth/(Decline)

    $

    20,274

     

     

    $

    10,926

     

     

    $

    (3,605

    )

     

    $

    27,595

     

    Organic Revenue Growth/(Decline) %

     

    7.4

    %

     

     

    9.8

    %

     

     

    -14.1

    %

     

     

    6.7

    %

    Fresh Revenues from Hubs with Spokes and Sales per Hub are defined above.

     

    Trailing Four

    Quarters Ended

     

    Fiscal Year Ended

    (in thousands, unless otherwise stated)

    March 30,

    2025

     

    December 29,

    2024

     

    December 31,

    2023

    U.S.:

     

     

     

     

     

    Revenues

    $

    999,345

     

     

    $

    1,058,736

     

     

    $

    1,104,944

     

    Non-Fresh Revenues (1)

     

    (3,140

    )

     

     

    (3,161

    )

     

     

    (9,416

    )

    Fresh Revenues from Insomnia Cookies and Hubs without Spokes (2)

     

    (244,535

    )

     

     

    (307,665

    )

     

     

    (399,061

    )

    Fresh Revenues from Hubs with Spokes

     

    751,670

     

     

     

    747,910

     

     

     

    696,467

     

    Sales per Hub (millions)

     

    4.8

     

     

     

    4.9

     

     

     

    4.9

     

     

     

     

     

     

     

    International:

     

     

     

     

     

    Fresh Revenues from Hubs with Spokes (3)

    $

    513,987

     

     

    $

    519,102

     

     

    $

    489,631

     

    Sales per Hub (millions) (4)

     

    9.8

     

     

     

    9.9

     

     

     

    9.8

     

    (1)

    Includes the exited Branded Sweet Treats business revenues as well as licensing royalties from customers for use of the Krispy Kreme brand.

    (2)

    Includes Insomnia Cookies revenues (through the date of the divestiture) and Fresh Revenues generated by Hubs without Spokes.

    (3)

    Total International net revenues is equal to Fresh Revenues from Hubs with Spokes for that business segment.

    (4)

    International Sales per Hub comparative data has been restated in constant currency based on current exchange rates.

     

    Krispy Kreme, Inc.

    Global Points of Access (Unaudited)

     
     

     

    Global Points of Access

     

    Quarter Ended

     

    Fiscal Year

    Ended

     

    March 30, 2025

     

    March 31, 2024

     

    December 29,

    2024

    U.S.:

     

     

     

     

     

    Hot Light Theater Shops

    238

     

    229

     

    237

    Fresh Shops

    67

     

    71

     

    70

    Cookie Bakeries (1)

    —

     

    277

     

    —

    DFD Doors (2)

    10,186

     

    7,198

     

    9,644

    Total

    10,491

     

    7,775

     

    9,951

    International:

     

     

     

     

     

    Hot Light Theater Shops

    48

     

    45

     

    49

    Fresh Shops

    518

     

    490

     

    519

    Carts, Food Trucks, and Other (3)

    17

     

    16

     

    17

    DFD Doors

    4,469

     

    4,202

     

    4,583

    Total

    5,052

     

    4,753

     

    5,168

    Market Development:

     

     

     

     

     

    Hot Light Theater Shops

    108

     

    117

     

    108

    Fresh Shops

    1,104

     

    1,010

     

    1,095

    Carts, Food Trucks, and Other (3)

    30

     

    30

     

    30

    DFD Doors

    1,197

     

    1,129

     

    1,205

    Total

    2,439

     

    2,286

     

    2,438

    Total Global Points of Access (as defined)

    17,982

     

    14,814

     

    17,557

    Total Hot Light Theater Shops

    394

     

    391

     

    394

    Total Fresh Shops

    1,689

     

    1,571

     

    1,684

    Total Cookie Bakeries (1)

    —

     

    277

     

    —

    Total Shops

    2,083

     

    2,239

     

    2,078

    Total Carts, Food Trucks, and Other

    47

     

    46

     

    47

    Total DFD Doors

    15,852

     

    12,529

     

    15,432

    Total Global Points of Access (as defined)

    17,982

     

    14,814

     

    17,557

    (1)

    Reflects the divestiture of Insomnia Cookies during fiscal 2024.

    (2)

    Includes more than 2,400 McDonald's QSR shops as of March 30, 2025.

    (3)

    Carts and Food Trucks are non-producing, mobile (typically on wheels) facilities without walls or a door where product is received from a Hot Light Theater Shop or Doughnut Factory. Other includes a vending machine. Points of Access in this category are primarily found in international locations in airports and train stations.

     

    Krispy Kreme, Inc.

    Global Hubs (Unaudited)

     
     

     

    Hubs

     

    Quarter Ended

     

    Fiscal Year

    Ended

     

    March 30, 2025

     

    March 31, 2024

     

    December

    29, 2024

    U.S.:

     

     

     

     

     

    Hot Light Theater Shops (1)

    234

     

    221

     

    232

    Doughnut Factories

    6

     

    4

     

    6

    Total

    240

     

    225

     

    238

    Hubs with Spokes

    162

     

    154

     

    158

    Hubs without Spokes

    78

     

    71

     

    80

    International:

     

     

     

     

     

    Hot Light Theater Shops (1)

    39

     

    36

     

    40

    Doughnut Factories

    14

     

    14

     

    14

    Total

    53

     

    50

     

    54

    Hubs with Spokes

    53

     

    50

     

    54

    Market Development:

     

     

     

     

     

    Hot Light Theater Shops (1)

    106

     

    113

     

    106

    Doughnut Factories

    27

     

    26

     

    27

    Total

    133

     

    139

     

    133

    Total Hubs

    426

     

    414

     

    425

    (1)

    Includes only Hot Light Theater Shops and excludes Mini Theaters. A Mini Theater is a Spoke location that produces some doughnuts for itself and also receives doughnuts from another producing location.

     
     

    Krispy Kreme, Inc.

    Net Debt and Leverage (Unaudited)

    (in thousands, except leverage ratio)

     
     

     

    As of

     

    (Unaudited)

    March 30,


    2025

     

    December 29,

    2024

    Current portion of long-term debt

    $

    54,629

     

     

    $

    56,356

     

    Long-term debt, less current portion

     

    934,967

     

     

     

    844,547

     

    Total long-term debt, including debt issuance costs

     

    989,596

     

     

     

    900,903

     

    Add back: Debt issuance costs

     

    3,060

     

     

     

    3,322

     

    Total long-term debt, excluding debt issuance costs

     

    992,656

     

     

     

    904,225

     

    Less: Cash and cash equivalents

     

    (18,722

    )

     

     

    (28,962

    )

    Net debt

    $

    973,934

     

     

    $

    875,263

     

    Adjusted EBITDA - trailing four quarters

     

    159,320

     

     

     

    193,528

     

    Net leverage ratio

    6.1 x

     

    4.5 x

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250508731414/en/

    Investor Relations

    [email protected]



    Financial Media

    ICR for Krispy Kreme, Inc.

    [email protected]

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    DatePrice TargetRatingAnalyst
    5/8/2025Buy → Hold
    Truist
    2/26/2025$12.00 → $6.00Equal-Weight → Underweight
    Morgan Stanley
    11/5/2024$14.00Equal-Weight
    Morgan Stanley
    8/27/2024$13.00In-line
    Evercore ISI
    7/23/2024$14.00Hold → Buy
    HSBC Securities
    6/10/2024$13.00 → $15.00Hold → Buy
    Truist
    6/3/2024$14.00Overweight
    JP Morgan
    4/5/2024$14.00 → $20.00Neutral → Overweight
    Piper Sandler
    More analyst ratings

    $DNUT
    SEC Filings

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    • SEC Form 10-Q filed by Krispy Kreme Inc.

      10-Q - Krispy Kreme, Inc. (0001857154) (Filer)

      5/8/25 4:11:11 PM ET
      $DNUT
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    • Krispy Kreme Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Entry into a Material Definitive Agreement

      8-K - Krispy Kreme, Inc. (0001857154) (Filer)

      5/8/25 6:58:34 AM ET
      $DNUT
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    • SEC Form DEFA14A filed by Krispy Kreme Inc.

      DEFA14A - Krispy Kreme, Inc. (0001857154) (Filer)

      4/28/25 4:17:33 PM ET
      $DNUT
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    $DNUT
    Large Ownership Changes

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    • Amendment: SEC Form SC 13D/A filed by Krispy Kreme Inc.

      SC 13D/A - Krispy Kreme, Inc. (0001857154) (Subject)

      8/13/24 7:00:25 AM ET
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    • SEC Form SC 13G filed by Krispy Kreme Inc.

      SC 13G - Krispy Kreme, Inc. (0001857154) (Subject)

      2/14/24 10:15:48 AM ET
      $DNUT
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    • SEC Form SC 13D/A filed by Krispy Kreme Inc. (Amendment)

      SC 13D/A - Krispy Kreme, Inc. (0001857154) (Subject)

      11/22/23 4:30:24 PM ET
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    Press Releases

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    • Krispy Kreme Reports First Quarter 2025 Financial Results

      First quarter Net Revenue of $375.2 million, Organic Revenue decreases 1.0% Krispy Kreme, Inc. (NASDAQ:DNUT) ("Krispy Kreme", "KKI", or the "Company") today reported financial results for the quarter ended March 30, 2025. First Quarter Highlights (vs Q1 2024) Net revenue of $375.2 million Organic revenue declined 1.0% to $374.7 million GAAP net loss of $33.4 million Adjusted EBITDA of $24.0 million GAAP cash used for operating activities of $20.8 million Global Points of Access ("POA") increased 3,168, or 21.4%, to 17,982 In the first quarter, Krispy Kreme spotlighted its most popular and most affordable Original Glazed doughnut to increasingly value-conscious consumers whil

      5/8/25 6:45:00 AM ET
      $DNUT
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    • KRISPY KREME® Brightens Mother's Day with All-New Minis for Mom Collection

      Perfect for celebrating the light moms bring; four new mini doughnuts are available May 6 through Mother's Day, May 11 Krispy Kreme is brightening mom's day and warming her heart with an all-new Minis for Mom Collection, debuting today and available through Mother's Day, May 11. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250506902975/en/Perfect for celebrating the light moms bring; four new mini doughnuts are available May 6 through Mother's Day, May 11 The Minis for Mom Collection features four new bright and sunny treats: Mini Strawberry Sunshine Doughnut – a Mini Original Glazed® doughnut dipped in strawberry flavored i

      5/6/25 6:00:00 AM ET
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    • REAL ID? How about FREE OG?! KRISPY KREME® Sweetens REAL ID Deadline with Free Original Glazed® Doughnuts May 7 for All Guests, No ID Required

      As Americans race to state DMVs to meet the May 7 REAL ID deadline, Krispy Kreme® is sweetening the rush – and relieving the stress – with a surge of FREE Original Glazed® Doughnuts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250502145235/en/Krispy Kreme sweetens REAL ID deadline with free Original Glazed® Doughnuts May 7 for all guests, No ID required Next Wednesday, May 7, Krispy Kreme will give all guests one free Original Glazed® doughnut all day in shop or via drive-thru at participating shops, limit one per guest, no purchase necessary and no ID required! "The DMV can be stressful enough in normal times, but we know Ma

      5/2/25 6:00:00 AM ET
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    Insider Trading

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    • Chief People Officer Zandhuis Terri covered exercise/tax liability with 3,820 shares, decreasing direct ownership by 0.64% to 589,330 units (SEC Form 4)

      4 - Krispy Kreme, Inc. (0001857154) (Issuer)

      5/2/25 7:47:31 AM ET
      $DNUT
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    • Chief Growth Officer Skena David covered exercise/tax liability with 3,820 shares, decreasing direct ownership by 0.66% to 577,194 units (SEC Form 4)

      4 - Krispy Kreme, Inc. (0001857154) (Issuer)

      5/2/25 7:46:37 AM ET
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    • CEO Charlesworth Josh covered exercise/tax liability with 7,638 shares, decreasing direct ownership by 0.83% to 914,686 units (SEC Form 4)

      4 - Krispy Kreme, Inc. (0001857154) (Issuer)

      5/2/25 7:45:40 AM ET
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    Financials

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    • Krispy Kreme Reports First Quarter 2025 Financial Results

      First quarter Net Revenue of $375.2 million, Organic Revenue decreases 1.0% Krispy Kreme, Inc. (NASDAQ:DNUT) ("Krispy Kreme", "KKI", or the "Company") today reported financial results for the quarter ended March 30, 2025. First Quarter Highlights (vs Q1 2024) Net revenue of $375.2 million Organic revenue declined 1.0% to $374.7 million GAAP net loss of $33.4 million Adjusted EBITDA of $24.0 million GAAP cash used for operating activities of $20.8 million Global Points of Access ("POA") increased 3,168, or 21.4%, to 17,982 In the first quarter, Krispy Kreme spotlighted its most popular and most affordable Original Glazed doughnut to increasingly value-conscious consumers whil

      5/8/25 6:45:00 AM ET
      $DNUT
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    • Krispy Kreme, Inc. to Announce First Quarter 2025 Results on May 8, 2025

      Krispy Kreme, Inc. (NASDAQ:DNUT) ("Krispy Kreme" or the "Company"), today announced that it will issue its first quarter 2025 earnings results on Thursday, May 8, 2025. Management will host a conference call and webcast to discuss the results at 8:30AM ET on the same day. A slide presentation to be used during the webcast will be available prior to the start time on the investor relations section of the Company's website at investors.krispykreme.com. To register for the conference call and webcast, please use this LINK. After registering, confirmation will be sent through email, including dial-in details and unique conference call codes for entry. To listen to the live audio webcast and Q

      4/24/25 8:30:00 AM ET
      $DNUT
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    • Krispy Kreme Declares Quarterly Dividend

      Krispy Kreme, Inc. (NASDAQ:DNUT) ("Krispy Kreme" or the "Company"), today announced a quarterly cash dividend of $0.035 per share of common stock, in accordance with the Company's dividend policy. The dividend was declared today, February 13, 2025, and will be paid on May 7, 2025, to shareholders of record on April 23, 2025. About Krispy Kreme, Inc. Headquartered in Charlotte, N.C., Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world. Our iconic Original Glazed® doughnut is universally recognized for its hot-off-the-line, melt-in-your-mouth experience. Krispy Kreme operates in 40 countries through its unique network of fresh doughnut shops, partnership

      2/13/25 4:30:00 PM ET
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    $DNUT
    Analyst Ratings

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    • Krispy Kreme downgraded by Truist

      Truist downgraded Krispy Kreme from Buy to Hold

      5/8/25 9:37:08 AM ET
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    • Krispy Kreme, Inc. downgraded by Morgan Stanley with a new price target

      Morgan Stanley downgraded Krispy Kreme, Inc. from Equal-Weight to Underweight and set a new price target of $6.00 from $12.00 previously

      2/26/25 7:04:14 AM ET
      $DNUT
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    • Morgan Stanley resumed coverage on Krispy Kreme, Inc. with a new price target

      Morgan Stanley resumed coverage of Krispy Kreme, Inc. with a rating of Equal-Weight and set a new price target of $14.00

      11/5/24 6:19:10 AM ET
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    Leadership Updates

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    • Krispy Kreme Board Nominates Refreshed Slate of Directors to Support Company's Transformation

      Bernardo Hees, Seasoned Executive in Food Retail and Consumer Goods, Nominated to Join Board of Directors and Chair Strategy & Operating Committee Krispy Kreme, Inc. (NASDAQ:DNUT) (the "Company") today announced its Board of Directors (the "Board") has nominated a refreshed slate of directors. The refreshed Board will provide valuable partnership for the management team as it continues to execute the Company's transformation into a better and bigger Krispy Kreme. The director nominees include Bernardo Hees, Patrick Grismer, Easwaran Sundaram, and Gordon von Bretten. At the Company's Annual Meeting on June 17, 2025, Krispy Kreme shareholders will vote on nominees for a nine-member Board. Fo

      4/23/25 6:45:00 AM ET
      $DNUT
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    • KRISPY KREME® Celebrates 65th Anniversary of Barbie® with New Doughnut Collection Full of Flavor, Flair and Fashion

      Krispy Kreme® is making an iconic flavor statement – literally – to celebrate Barbie brand's 65th anniversary: four all-new doughnuts featuring unique designs and fabulous flavors inspired by Barbie, the trend-setting and timeless global fashion doll. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240903037175/en/Krispy Kreme® is making an iconic flavor statement – literally – to celebrate Barbie brand's 65th anniversary: four all-new doughnuts featuring unique designs and fabulous flavors inspired by Barbie, the trend-setting and timeless global fashion doll. (Photo: Business Wire) Beginning today for a limited time at particip

      9/3/24 6:00:00 AM ET
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    • Krispy Kreme® Announces Atiba Adams as Chief Legal Officer

      Krispy Kreme, Inc. (NASDAQ:DNUT) today announced that Atiba Adams will join the company as Chief Legal Officer effective June 25, 2024. Adams will report to Josh Charlesworth, President and Chief Executive Officer of Krispy Kreme. Adams brings more than 20 years of legal experience guiding multibillion-dollar publicly traded and privately held companies such as Mars, Pfizer, and most recently, Bausch + Lomb, where he served as Senior Vice President and Deputy General Counsel. "Atiba's strong, global legal background, public company experience, and expertise in the sweet treat industry make him a great addition to the team," said Charlesworth. "I couldn't be more excited to welcome him a

      5/30/24 8:00:00 AM ET
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