Rocky Mountain Chocolate Factory Q1 Update

TL;DR

**RMCF Q1 results are in - check the filing for segment performance details.**

AI Summary

Rocky Mountain Chocolate Factory, Inc. filed its 10-Q for the period ending May 31, 2024. The company reported financial results for its operating segments, including retail and franchise operations. Specific financial figures and segment performance details are outlined within the filing.

Why It Matters

This filing provides investors with an update on the financial performance of Rocky Mountain Chocolate Factory, Inc. during its first fiscal quarter, offering insights into sales and operational trends.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 20240531 — Fiscal Period End (The end date for the financial reporting period covered by this 10-Q.)
• 20240715 — Filing Date (The date this 10-Q was officially filed with the SEC.)

Key Players & Entities

• Rocky Mountain Chocolate Factory, Inc. (company) — Filer of the 10-Q
• 20240531 (date) — End of the reporting period
• 20240715 (date) — Filing date
• Durango, CO (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share RMCF Nasdaq Glo

Filing Documents

• rmcf-20240531.htm (10-Q) — 1479KB
• rmcf-ex31_1.htm (EX-31.1) — 16KB
• rmcf-ex32_1.htm (EX-32.1) — 11KB
• img69441842_0.jpg (GRAPHIC) — 6KB
• 0000950170-24-083642.txt ( ) — 8035KB
• rmcf-20240531.xsd (EX-101.SCH) — 1400KB
• rmcf-20240531_htm.xml (XML) — 1488KB

financial information

part I. financial information 3 Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statement of Cash Flows 5 Condensed Consolidated Statements of Changes in Stockholders' Equity 6 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

other information

part II. other information 30 Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32

Signatures

Signatures 33 1 Table of Contents Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q (this "Quarterly Report") contains statements of our expectations, intentions, plans and beliefs that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and are intended to come within the safe harbor protection provided by those sections. These forward-looking statements involve various risks and uncertainties. These statements, other than statements of historical fact, included in this Quarterly Report are forward-looking statements. Many of the forward-looking statements contained in this document may be identified by the use of forward-looking words such as "will," "intend," "believe," "expect," "anticipate," "should," "plan," "estimate," "potential," or similar expressions. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future including statements expressing general views about future operating results are forward-looking statements. Management believes these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date of this Quarterly Report. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause our actual results to differ materially from historical experience and our present expectations or pr

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

F INANCIAL STATEMENTS

ITEM 1. F INANCIAL STATEMENTS Rocky Mountain Chocolate Factory, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) Three Months Ended May 31, 2024 2023 Revenues Sales $ 5,279 $ 5,016 Franchise and royalty fees 1,128 1,420 Total Revenue 6,407 6,436 Costs and Expenses Cost of sales 5,586 4,758 Franchise costs 541 680 Sales and marketing 430 473 General and administrative 1,239 1,932 Retail operating 199 103 Depreciation and amortization, exclusive of depreciation and amortization expense of $ 196 and $ 171 , respectively, included in cost of sales 42 31 Total costs and expenses 8,037 7,977 Loss from Operations ( 1,630 ) ( 1,541 ) Other Income (Expense) Interest expense ( 35 ) ( 6 ) Interest income 7 20 Other income (expense), net ( 28 ) 14 Loss Before Income Taxes ( 1,658 ) ( 1,527 ) Income Tax Provision (Benefit) - - Loss from Continuing Operations ( 1,658 ) ( 1,527 ) Earnings from discontinued operations, net of tax - 704 Net Loss $ ( 1,658 ) $ ( 823 ) Basic Loss per Common Share Loss from continuing operations $ ( 0.26 ) $ ( 0.24 ) Earnings from discontinued operations — 0.11 Net loss $ ( 0.26 ) $ ( 0.13 ) Diluted Loss per Common Share Loss from continuing operations $ ( 0.26 ) $ ( 0.24 ) Earnings from discontinued operations — 0.11 Net loss $ ( 0.26 ) $ ( 0.13 ) Weighted Average Common Shares Outstanding - Basic 6,322,329 6,276,613 Dilutive Effect of Employee Stock Awards - - Weighted Average Common Shares Outstanding - Diluted 6,322,329 6,276,613 The accompanying notes are an integral part of these consolidated financial statements. 3 Table of Contents Rocky Mountain Chocolate Factory, Inc. and Subsidiaries Condensed Consolidated Bal

View Full Filing

View this 10-Q filing on SEC EDGAR