Krispy Kreme, Inc.
krispykreme.comWhat Do They Do?
Makes and sells fresh doughnuts to consumers through shops and digital ordering, and supplies grocery and convenience retailers with doughnuts for resale.
10-K for FY2025, filed Mar 6, 2026
How Do They Make Money?
Most money comes from doughnuts and complementary products sold in shops, digitally, and through fresh delivery; customers pay at delivery, or in some retail arrangements when the retailer sells them. Franchisees also buy mix and equipment on delivery and pay franchise fees before openings, plus royalties and advertising fees based on sales.
10-K for FY2025, filed Mar 6, 2026Product sales include revenue derived from (1) the sale of doughnuts and complementary products to in-shop, digital, and fresh delivery…View ↗
Franchise revenue included in Royalties and other revenues is derived from development and initial franchise fees relating to new shop…View ↗
Franchise-related advertising fund revenue included in Royalties and other revenues is derived from domestic and international franchise…View ↗
-
10-K for FY2025, filed Mar 6, 2026
FY2025 revenue by product or service ↗
$1.5B
-
10-K for FY2025, filed Mar 6, 2026
$1.5B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Company Shops, Fresh Delivery, and Branded Sweet Treats
Sold outright
10-K for FY2025, filed Mar 6, 2026 |
95%
FY2022: 94%
|
Company Shops, Fresh Delivery, and Branded Sweet Treats, FY2025
$1.4B Sources
|
Sold outright |
|
Mix and equipment revenue from franchisees
Sold outright
|
2.7%
FY2022: 3.6%
|
Mix and equipment revenue from franchisees, FY2025
$40.9M Sources
|
Sold outright |
|
Royalties and other revenues
Mix
|
2.4%
FY2022: 2.1%
|
Royalties and other revenues, FY2025
$36.5M Sources
|
Mix |
Who Are Their Customers?
Consumers buy from shops and through digital ordering; grocery and convenience retailers sell fresh doughnuts at their locations. International franchise partners operate shops and buy doughnut mix, supplies, and equipment.
10-K for FY2025, filed Mar 6, 2026We are an omni-channel business that focuses on fresh, high-quality doughnuts with 15,194 points of access globally as of the end of fiscal…View ↗
Doughnut Factories: Non-consumer facing production Hubs, which provide fresh doughnuts to our Spoke locations in certain countries or…View ↗
In the U.S., our sales are derived from Points of Access that are primarily operated by the Company. Internationally, our sales are derived…View ↗
We generate revenue from product sales through (1) the sale of doughnuts and complementary products to in-shop, digital, and fresh delivery…View ↗
Do Revenues Turn Into Profits?
No. It lost $515.8M in FY2025.
10-K for FY2025, filed Mar 6, 2026
−$469.3MView ↗
10-K for FY2025, filed Mar 6, 2026
−$515.8MView ↗
10-K for FY2025, filed Mar 6, 2026
−$64MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$20.3MView ↗
- ▼ −95% (Loss)
- vs −$435.3M in Q2 FY2025
-
Mar 24, 2026
Refranchised the Western U.S. joint venture and sold Japan operations
WKS increased its ownership of the Western U.S. joint venture; Unison Capital acquired Krispy Kreme's Japan operations.
Sources
8-K, filed Mar 24, 2026
On March 23, 2026 (the “Effective Date”), Krispy Kreme, Inc. (the “Company”), through its wholly owned subsidiaries, Awesome Doughnut, LLC…View ↗
Growing. Revenue grew 10% in 4 years, from $1.4B in FY2021 to $1.5B in FY2025, about 2% a year.
A broader franchise model
The earlier report described taking greater control of U.S. operations; the latest report plans broader franchising, including refranchising international markets and the western U.S. joint venture.
10-K for FY2022, filed Mar 2, 2023 10-K for FY2025, filed Mar 6, 2026We have made investments in our brand, our people and our infrastructure and believe we are well positioned to drive sustained growth as we…View ↗
The Company operates a global network of locations through a combination of Company-owned/operated and franchise-owned/operated shops and…View ↗
Insomnia Cookies
The earlier report described Insomnia Cookies as part of the sweet-treat offering; the latest report says its bakeries were included only through the date of deconsolidation.
10-K for FY2022, filed Mar 2, 2023 10-K for FY2025, filed Mar 6, 2026We also launched in mid-2020 our Branded Sweet Treat Line, a new line of Krispy Kreme-branded packaged sweet treats intended to extend our…View ↗
U.S.: Includes all Company-owned operations in the U.S., and Insomnia Cookies Bakeries globally through the date of deconsolidation. Refer…View ↗
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