Krispy Kreme Inc

Latest Results (12.10.2025):

Krispy Kreme Inc. reported its financial results for the second quarter of 2025, highlighting a significant net revenue decline and a substantial increase in net loss compared to the same period last year. The company has initiated a comprehensive turnaround plan aimed at deleveraging its balance sheet and fostering sustainable, profitable growth through strategic refranchising and operational efficiencies.

Revenue Performance

For the quarter ended June 29, 2025, Krispy Kreme reported net revenue of $379.8 million, marking a 13.5% decrease from $438.8 million in Q2 2024. Organic revenue saw a slight decline of 0.8%, attributed to reduced discounting and a decrease in doughnut shop transaction volumes despite growth in Global Points of Access and Delivered Fresh Daily revenues.

Net Loss Increase

The company experienced a GAAP net loss of $441.1 million in Q2 2025, a significant escalation from a net loss of $4.9 million in Q2 2024. This increase is primarily due to non-cash goodwill and other asset impairment charges totaling $406.9 million.

Adjusted EBITDA Decline

Adjusted EBITDA for the quarter was $20.1 million, down from $54.7 million in the previous year. The decline in Adjusted EBITDA margin to 5.3% was driven by the termination of the McDonald’s USA partnership and lower transaction volumes impacting operating leverage.

Global Points of Access Growth

Krispy Kreme expanded its Global Points of Access by 14.3%, increasing to 18,113 locations. This growth includes the closure of approximately 2,400 McDonald’s doors following the end of the partnership on July 2, 2025.

Turnaround Plan

The company has launched a turnaround plan focused on deleveraging the balance sheet and driving sustainable growth. Key components include refranchising international markets, improving return on invested capital, expanding margins through operational efficiencies, and pursuing profitable U.S. expansion. CEO Josh Charlesworth anticipates beginning to recoup profitability in the third quarter of 2025.