2024 Q2 Form 10-Q Financial Statement

#000185715424000063 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $438.8M $442.7M
YoY Change 4.74% 9.42%
Cost Of Revenue $296.0M $288.2M
YoY Change 3.18% 6.81%
Gross Profit $142.8M $154.5M
YoY Change 8.12% 14.63%
Gross Profit Margin 32.55% 34.9%
Selling, General & Admin $64.47M $71.57M
YoY Change 4.88% -23.12%
% of Gross Profit 45.14% 46.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.60M $33.59M
YoY Change 23.84% 26.84%
% of Gross Profit 24.23% 21.74%
Operating Expenses $64.47M $71.57M
YoY Change 4.88% -45.31%
Operating Profit $6.859M $11.91M
YoY Change -54.11% 204.4%
Interest Expense -$14.45M -$13.74M
YoY Change 20.55% 33.44%
% of Operating Profit -210.7% -115.35%
Other Income/Expense, Net -$949.0K -$573.0K
YoY Change -5.01% -39.87%
Pretax Income -$8.542M -$2.401M
YoY Change -535.59% -60.25%
Income Tax -$3.611M $4.262M
% Of Pretax Income
Net Earnings -$5.491M -$8.534M
YoY Change 1724.25% 213.87%
Net Earnings / Revenue -1.25% -1.93%
Basic Earnings Per Share -$0.03 -$0.05
Diluted Earnings Per Share -$0.03 -$0.05
COMMON SHARES
Basic Shares Outstanding 168.7M shares 168.7M shares
Diluted Shares Outstanding 169.1M shares 168.7M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.63M $33.13M
YoY Change -3.54% -6.33%
Cash & Equivalents $28.63M $33.13M
Short-Term Investments
Other Short-Term Assets $24.59M $25.94M
YoY Change 14.14% -5.02%
Inventory $39.46M $39.26M
Prepaid Expenses
Receivables $57.35M $57.29M
Other Receivables $18.14M $18.40M
Total Short-Term Assets $168.2M $174.0M
YoY Change 8.05% -2.39%
LONG-TERM ASSETS
Property, Plant & Equipment $1.008B $999.9M
YoY Change 10.86% 12.38%
Goodwill $1.096B $1.099B
YoY Change 0.21% 1.0%
Intangibles $927.7M $938.8M
YoY Change -3.72% -2.82%
Long-Term Investments
YoY Change
Other Assets $23.82M $22.72M
YoY Change 4.01% -14.35%
Total Long-Term Assets $3.055B $3.060B
YoY Change 2.21% 3.03%
TOTAL ASSETS
Total Short-Term Assets $168.2M $174.0M
Total Long-Term Assets $3.055B $3.060B
Total Assets $3.223B $3.234B
YoY Change 2.5% 2.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $135.2M $128.6M
YoY Change -34.1% -42.93%
Accrued Expenses $114.3M $117.1M
YoY Change 37.74% 12.13%
Deferred Revenue $20.30M $21.77M
YoY Change 12.39% 12.13%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $59.83M $60.33M
YoY Change 48.76% 50.69%
Total Short-Term Liabilities $493.6M $490.1M
YoY Change 10.66% -5.11%
LONG-TERM LIABILITIES
Long-Term Debt $895.0M $881.8M
YoY Change 15.19% 19.31%
Other Long-Term Liabilities $489.9M $491.4M
YoY Change 3.7% 8.95%
Total Long-Term Liabilities $895.0M $881.8M
YoY Change 15.19% -25.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $493.6M $490.1M
Total Long-Term Liabilities $895.0M $881.8M
Total Liabilities $1.994B $1.986B
YoY Change 8.52% 7.39%
SHAREHOLDERS EQUITY
Retained Earnings -$304.8M -$293.4M
YoY Change 36.29% 34.92%
Common Stock $1.694M $1.687M
YoY Change 0.71% 0.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.135B $1.153B
YoY Change
Total Liabilities & Shareholders Equity $3.223B $3.234B
YoY Change 2.5% 2.72%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$5.491M -$8.534M
YoY Change 1724.25% 213.87%
Depreciation, Depletion And Amortization $34.60M $33.59M
YoY Change 23.84% 26.84%
Cash From Operating Activities $33.23M -$17.71M
YoY Change 220.6% -125.63%
INVESTING ACTIVITIES
Capital Expenditures $31.67M $29.06M
YoY Change 19.27% -20.84%
Acquisitions
YoY Change
Other Investing Activities -$4.445M -$19.00K
YoY Change 5320.73% -100.65%
Cash From Investing Activities -$36.12M -$29.05M
YoY Change 119.6% -14.0%
FINANCING ACTIVITIES
Cash Dividend Paid $5.902M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.332M $43.58M
YoY Change -284.29% -240.2%
NET CHANGE
Cash From Operating Activities 33.23M -$17.71M
Cash From Investing Activities -36.12M -$29.05M
Cash From Financing Activities -3.332M $43.58M
Net Change In Cash -6.218M -$5.002M
YoY Change 10.13% -218.19%
FREE CASH FLOW
Cash From Operating Activities $33.23M -$17.71M
Capital Expenditures $31.67M $29.06M
Free Cash Flow $1.559M -$46.77M
YoY Change -109.63% -244.47%

Facts In Submission

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CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Segment information is prepared on the same basis that the Company’s management reviews financial information for operational decision-making purposes. Effective January 1, 2024, the Company realigned its segment reporting structure such that the Company-owned Canada and Japan businesses have moved from the Market Development reportable operating segment to the International reportable operating segment. All segment information has been restated to be consistent with current presentation.</span></div>
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CY2023Q4 us-gaap Goodwill
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CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q2 us-gaap Dilutive Securities
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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-0.00
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
442698000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
418950000 usd
CY2024Q1 dnut Adjusted Earnings Before Interest Taxes Depreciation Amortization And Other Non Operating Items
AdjustedEarningsBeforeInterestTaxesDepreciationAmortizationAndOtherNonOperatingItems
58188000 usd
CY2023Q2 dnut Adjusted Earnings Before Interest Taxes Depreciation Amortization And Other Non Operating Items
AdjustedEarningsBeforeInterestTaxesDepreciationAmortizationAndOtherNonOperatingItems
54928000 usd
CY2024Q1 dnut Interest Income Expense Net Excluding Related Party
InterestIncomeExpenseNetExcludingRelatedParty
13736000 usd
CY2023Q2 dnut Interest Income Expense Net Excluding Related Party
InterestIncomeExpenseNetExcludingRelatedParty
11988000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4262000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
317000 usd
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
33586000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
27939000 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6986000 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
5545000 usd
CY2024Q1 dnut Employer Payroll Taxes Related To Share Based Compensation
EmployerPayrollTaxesRelatedToShareBasedCompensation
43000 usd
CY2023Q2 dnut Employer Payroll Taxes Related To Share Based Compensation
EmployerPayrollTaxesRelatedToShareBasedCompensation
25000 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-573000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-999000 usd
CY2024Q1 dnut Strategic Initiative Fees
StrategicInitiativeFees
4821000 usd
CY2023Q2 dnut Strategic Initiative Fees
StrategicInitiativeFees
13469000 usd
CY2024Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
248000 usd
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
91000 usd
CY2024Q1 dnut New Market Penetration Expenses
NewMarketPenetrationExpenses
466000 usd
CY2023Q2 dnut New Market Penetration Expenses
NewMarketPenetrationExpenses
94000 usd
CY2024Q1 dnut Shop Closure Income Expenses
ShopClosureIncomeExpenses
139000 usd
CY2023Q2 dnut Shop Closure Income Expenses
ShopClosureIncomeExpenses
-679000 usd
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
6000 usd
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
580000 usd
CY2024Q1 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
0 usd
CY2023Q2 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
9661000 usd
CY2024Q1 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-15000 usd
CY2023Q2 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
2577000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-6663000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
1644000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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dnut-20240331_cal.xml Edgar Link unprocessable
0001857154-24-000063-index-headers.html Edgar Link pending
0001857154-24-000063-index.html Edgar Link pending
0001857154-24-000063.txt Edgar Link pending
0001857154-24-000063-xbrl.zip Edgar Link pending
dnut-20240331.htm Edgar Link pending
dnut-20240331.xsd Edgar Link pending
dnut-20240331_g1.jpg Edgar Link pending
dnut-20240331_g2.jpg Edgar Link pending
exh311-302certificationceo.htm Edgar Link pending
exh312-302certificationcfo.htm Edgar Link pending
exh32-906certificationq120.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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dnut-20240331_htm.xml Edgar Link completed
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