Krispy Kreme, Inc. reported a total net revenue of $367.0 million for the quarter ended March 29, 2026, a decrease of 2.2% compared to $375.2 million in the same period last year. The decline was primarily attributed to a $9.1 million reduction linked to refranchising efforts in both the U.S. and International segments. The company experienced a net loss of $22.7 million, an improvement from the $33.4 million loss reported in the prior year, reflecting a 32.1% reduction in losses. The net loss attributable to Krispy Kreme, Inc. was $22.8 million, or $(0.16) per share, compared to a loss of $33.3 million, or $(0.22) per share, in the previous year.
In terms of operational performance, Krispy Kreme's U.S. segment saw a revenue decline of 6.3%, totaling $221.6 million, largely due to the strategic closure of underperforming fresh delivery doors, including those associated with the terminated partnership with McDonald's USA. Conversely, the International segment reported a revenue increase of 4.7%, reaching $125.3 million, aided by favorable foreign currency translation effects. The Market Development segment also grew by 6.4%, generating $20.2 million in revenue, primarily due to refranchising benefits.
Strategically, Krispy Kreme has been executing a comprehensive turnaround plan aimed at improving financial flexibility and operational efficiency. This includes refranchising certain international markets, which has led to a decrease in ownership interest in W.K.S. Krispy Kreme to 20% and the divestiture of Krispy Kreme Japan for $69.3 million. The company also reported a net gain of $8.9 million from refranchising transactions during the quarter. Additionally, Krispy Kreme has focused on enhancing its digital sales channels, which have shown growth compared to the previous year.
Operationally, Krispy Kreme's Global Points of Access decreased by 15.9% to 15,125, primarily due to the closure of underperforming delivery doors. The company reported an increase in Adjusted EBITDA to $33.1 million, a 38.0% increase from $24.0 million in the prior year, driven by improved operational efficiencies and cost savings. Looking ahead, Krispy Kreme aims to continue its focus on profitable growth, with plans to enter new international markets and optimize its production and delivery processes. The company believes its existing cash and cash equivalents, along with available credit, will be sufficient to meet its operational needs for at least the next twelve months.
About Krispy Kreme, Inc.
Krispy Kreme, Inc. is a global leader in the production and sale of premium doughnuts and related treats. Its core business includes manufacturing, retail shops, and digital channels, offering iconic products like Original Glazed doughnuts. The company operates through an omni-channel model, leveraging its brand, innovation, and international franchise network to deliver fresh, high-quality products across multiple markets and channels.
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