Filing Flows › Krispy Kreme (DNUT) › Q4 2025
Krispy Kreme (DNUT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 6, 2026
Krispy Kreme (DNUT) reported revenue of $392M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +5% from the quarter before. Operating margin was -1.9%, net loss $29.1M (7.4% of revenue).
Krispy Kreme, Q4 2025: revenue $392M (-3% year over year), operating margin -1.9%, net loss $29.1M, operating cash flow $45.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $392M | +5% | -3% |
| Operating profit | −$7.3M | — | — |
| Net earnings | −$29.1M | — | — |
| Operating cash flow | $45.0M | +6% | +66% |
| Free cash flow | $27.9M | — | — |
What changed
Revenue was $392.4M in Q4 2025, down 3% year over year and up 5% from the previous quarter. Product sales was the largest line at 98% of revenue.
Operating costs exceeded revenue by $7.3M, an operating margin of -1.9%. Total costs fell 4% while revenue fell 3%. The quarter ended with a net loss of $29.1M, wider than the previous quarter's $20.1M loss. Minority interests bore $1.3M of it: to shareholders the quarter was a loss of $27.8M. Net interest and other expense of $16.7M was the main reason.
Operating cash flow was $45.0M (up 66% year over year). Non-cash charges added back $33.9M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items added $35.3M. After purchase of property and equipment ($17.1M), free cash flow as the company reports it was $27.9M.
Questions
What was Krispy Kreme's revenue in the fourth quarter 2025?
Krispy Kreme (DNUT) reported revenue of $392M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +5% from the quarter before.
Was Krispy Kreme profitable in the fourth quarter 2025?
Operating loss was $7.3M (-1.9% of revenue) and net loss $29.1M.
Source: Krispy Kreme 10-K on SEC EDGAR.