Press release
Krispy Kreme Reports Fourth Quarter and Full Year 2024 Financial Results
Full Year 2024 Net Revenue of $1.7 billion and Full Year Organic Revenue growth of 5.0% Introduces 2025 guidance CHARLOTTE, N.C.--(BUSINESS WIRE)-- Krispy
About this update from Krispy Kreme, Inc.
[{"type":"text","content":"\nFull Year 2024 Net Revenue of $1.7 billion and Full Year Organic Revenue growth of 5.0%\n\n\nIntroduces 2025 guidance\n\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nKrispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme”, “KKI”, or the “Company”) today reported financial results for the fourth quarter and full year ended December 29, 2024.\n\n\nFourth Quarter Highlights (vs Q4 2023)\n\n\n\nNet revenue of $404.0 million\n\n\n\nOrganic revenue(1) grew 1.8%, to $400.6 million, and was impacted adversely by an estimated 280 basis points from lost revenue linked to the 2024 Cybersecurity Incident\n\n\n\nGAAP net loss of $22.2 million\n\n\n\nAdjusted EBITDA(1) of $45.9 million, impacted adversely by an estimated $10 million impact from the 2024 Cybersecurity Incident\n\n\n\nGAAP operating cash flow of $27.0 million\n\n\n\nFull Year Highlights (vs FY 2023)\n\n\n\nNet revenue of $1,665.4 million\n\n\n\nOrganic revenue(1) grew 5.0%, to $1,658.1 million, and was impacted adversely by an estimated 70 basis points from lost revenue linked to the 2024 Cybersecurity Incident\n\n\n\nGAAP net income of $3.8 million\n\n\n\nAdjusted EBITDA(1) of $193.5 million, impacted adversely by an estimated $10 million impact from the 2024 Cybersecurity Incident\n\n\n\nGAAP operating cash flow of $45.8 million\n\n\n\nGlobal Points of Access increased 3,410, or 24.1% to 17,557\n\n\n\n“We delivered an 18th consecutive quarter of year-over-year organic sales growth. Excluding the estimated cybersecurity incident impact, results were largely in line with our expectations,” said Josh Charlesworth, Krispy Kreme CEO.\n\n\n“Last quarter, we announced we were aligning our talent and capital to our business priorities, and we have taken significant action. We have restructured our management teams to maximize profitable U.S. expansion and capital-light international growth. We expect to soon award contracts to outsource U.S. logistics. Finally, we have begun a process to evaluate refranchising certain international markets. I believe these changes will drive capital efficient growth, as we continue our transformation into a bigger and better Krispy Kreme.”\n\n\n\n\nFinancial Highlights\n\n\n\n\n\n\n \n\n\n\n\n\n\nQuarters Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\nFiscal Years Ended\n\n\n\n\n\n\n\n\n$ in millions, except per share data\n\n\n\n\n\n\n \n\n\n\n\n\n\nDecember 29,\n\n\n\n\n...