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EX-99.1

2 exh991q1pressrelease2026.htm

EX-99.1

Document

EXHIBIT 99.1

KRISPY KREME REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS DEMONSTRATING SIGNIFICANT PROGRESS ON TURNAROUND

Reduces net leverage, expands adjusted EBITDA margin, and delivers positive free cash flow

CHARLOTTE, NC (May 7, 2026) – Krispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme”, “KKI”, or the “Company”) today reported financial results for the quarter ended March 29, 2026.

First Quarter 2026 Highlights (vs Q1 2025)

•Net revenue of $367.0 million declined 2.2%, reflecting the strategic closure of underperforming doors completed in the third quarter of 2025

•Systemwide sales of $485.3 million increased 0.7% in constant currency excluding sales attributable to the now-ended McDonald’s USA partnership

•GAAP net loss of $22.7 million improved $10.7 million

•Adjusted EBITDA of $33.1 million increased 38.0%

•Cash provided by operating activities of $20.2 million increased $41.0 million, free cash flow of $11.4 million increased $58.1 million

“The first quarter highlighted significant progress across every pillar of our turnaround plan. We reduced net leverage, increased adjusted EBITDA margin by 260 basis points, and delivered positive free cash flow. We also closed two refranchising transactions, expanded access to our fresh doughnuts in the U.S. quarter-over-quarter, and accelerated the outsourcing of U.S. logistics, which is now complete. Strong consumer demand during recent holidays such as Valentine’s Day and St. Patrick’s Day also demonstrated that we remain a top choice for gifting, sharing, and celebrating,” said Krispy Kreme CEO Josh Charlesworth.

“We expect this momentum to continue through 2026, driven by profitable growth in the U.S. with key strategic partners, higher digital sales, and international expansion. For the full year, we are issuing guidance for net revenue and adjusted EBITDA, updating our net leverage reduction target, and reaffirming our outlook for systemwide sales growth.”

Turnaround Plan

The Company’s comprehensive turnaround plan, announced in August 2025, is designed to deleverage the balance sheet and deliver sustainable, profitable growth. The four components of the plan, along with progress on each, are as follows:

1)Refranchising: Improve financial flexibility through refranchising international markets and the joint venture in the Western U.S.

a.Refranchised the Company’s operations in Japan in March 2026.

b.Refranchised the joint venture in the Western U.S. in March 2026.

2)Improving Return on Invested Capital: Reduce capital intensity by using existing assets and focusing on franchise development.

a.Capital expenditures decreased 66% in the first quarter of 2026 compared to the year-ago period.

b.Opened 26 shops during the first quarter of 2026, nearly all of which are franchised.

c.Entered into a franchise agreement to expand into the Netherlands in late 2026.

3)Expanding Margins: Expand margins through greater operational efficiency, including outsourcing U.S. logistics.

a.Consolidated adjusted EBITDA margin increased from 6.4% to 9% year-over-year, including a 480 basis point increase in the U.S. segment.

b.Completed outsourcing of U.S. logistics in April 2026.

4)Driving Sustainable, Profitable Growth: Pursue U.S. growth based upon sustainable and profitable revenue streams.

a.Added 276 doors in the U.S. with strategic partners during the first quarter of 2026 on top of the 200 doors added in the fourth quarter of 2025.

b.Average U.S. revenue per door per week (“APD”) increased year-over-year 16.7% to $685.

Financial Highlights Quarter Ended

$ in millions, except per share dataMarch 29, 2026March 30, 2025Change

GAAP:

Net revenue$367.0 $375.2 (2.2)%

Net loss$(22.7)$(33.4)32.1 %

Net loss attributable to KKI$(22.8)$(33.3)31.5 %

Diluted loss per share (1) $(0.16)$(0.22)$0.06

Non-GAAP (2):

Organic revenue growth(2.6)%(1.0)%(160) bps

Adjusted net loss, diluted$(7.8)$(8.8)12.0 %

Adjusted EBITDA$33.1 $24.0 38.0 %

Adjusted EBITDA margin9.0 %6.4 %260 bps

Adjusted EPS$(0.05)$(0.05)$—

(1) Reflects a change from the amount previously reported for the quarter ended March 30, 2025, from $(0.20) to $(0.22). See Note 2 to the Company’s Annual Report on Form 10-K for the year ended December 28, 2025.

(2) Non-GAAP figures. See “Key Performance Indicators and Non-GAAP Measures” and “Reconciliation of Non-GAAP Financial Measures.”

Key Operating Metrics Quarter Ended

$ in millionsMarch 29, 2026March 30, 2025Change

Global points of access 15,125 17,982 (15.9)%

Sales per hub (U.S.) trailing four quarters$5.1 $4.8 6.3 %

Sales per hub (International) trailing four quarters$9.9 $9.8 1.0 %

Digital sales as a percent of retail sales18.9 %16.9 %200 bps

First Quarter 2026 Consolidated Results (vs Q1 2025)

Krispy Kreme’s results reflect continued progress in improving U.S. profitability and wider adoption of the capital-light international franchise model.

Net revenue was $367.0 millio

dnut-202602260001857154false00018571542026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

February 26, 2026 Date of Report (Date of earliest event reported)

Krispy Kreme, Inc. (Exact name of registrant as specified in its charter)

Delaware001-4057337-1701311 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

2116 Hawkins Street, Charlotte, North Carolina 28203 (Address of principal executive offices)

(800) 457-4779 (Registrant’s telephone number, including area code)

N/A (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communications pursuant to Rule 13e-14(c) under the Exchange Act (17 CFR 240.13e-14(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common stock, $0.01 par value per share

DNUT

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On February 26, 2026, Krispy Kreme, Inc. (the "Company") issued a press release announcing the Company's financial results for the quarter and fiscal year ended December 28, 2025. A copy of such press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information contained in this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. Item 9.01. Financial Statements and Exhibits.

Exhibit No.Description 99.1Press Release issued by Krispy Kreme, Inc. dated February 26, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

KRISPY KREME, INC.

Dated: February 26, 2026

By:    /s/ Raphael Duvivier

Name:Raphael Duvivier Title:Chief Financial Officer