Rocky Mountain Chocolate Factory Q2 2024 Update

TL;DR

**RMCF filed its Q2 2024 10-Q. Financials are in.**

AI Summary

Rocky Mountain Chocolate Factory, Inc. filed its 10-Q for the period ending August 31, 2024. The company reported financial results for the second quarter and first half of its fiscal year. Key financial data and operational details are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Rocky Mountain Chocolate Factory, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, Rocky Mountain Chocolate Factory, Inc. is subject to market fluctuations and business risks inherent in the confectionery industry.

Key Numbers

• 2024-08-31 — Reporting Period End Date (The 10-Q covers financial performance up to this date.)
• 2024-10-15 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Rocky Mountain Chocolate Factory, Inc. (company) — Filer
• 2024-08-31 (date) — Reporting Period End Date
• 2024-10-15 (date) — Filing Date
• 265 TURNER DRIVE (address) — Business and Mail Address
• DURANGO (location) — City of Business and Mail Address
• CO (location) — State of Business and Mail Address
• 80202 (zip_code) — ZIP Code of Business and Mail Address
• (970) 259-0554 (phone_number) — Business Phone Number

FAQ

Key Financial Figures

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

Filing Documents

• rmcf-20240831.htm (10-Q) — 2123KB
• rmcf-ex31_1.htm (EX-31.1) — 17KB
• rmcf-ex31_2.htm (EX-31.2) — 16KB
• rmcf-ex32_1.htm (EX-32.1) — 10KB
• rmcf-ex32_2.htm (EX-32.2) — 10KB
• img69444725_0.jpg (GRAPHIC) — 6KB
• 0000950170-24-114671.txt ( ) — 9371KB
• rmcf-20240831.xsd (EX-101.SCH) — 1152KB
• rmcf-20240831_htm.xml (XML) — 2020KB

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 23 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

other information

part II. other information 33 Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 37

Signatures

Signatures 38 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," "may," "would," "could," "continue," "likely," "might," "seek," "outlook," "explore," or the negative of these terms or other 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 uncertain

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 Six Months Ended August 31, August 31, 2024 2023 2024 2023 Revenues Sales $ 4,918 $ 5,016 $ 10,197 $ 10,032 Franchise and royalty fees 1,462 1,542 2,590 2,962 Total Revenue 6,380 6,558 12,787 12,994 Costs and Expenses Cost of sales 4,350 4,632 9,936 9,391 Franchise costs 952 614 1,493 1,293 Sales and marketing 138 442 568 915 General and administrative 1,622 1,687 2,861 3,619 Retail operating 194 162 393 265 Depreciation and amortization, exclusive of depreciation and amortization expense of $ 190 , $ 183 , $ 386 and $ 354 , respectively, included in cost of sales 38 32 80 63 Total costs and expenses 7,294 7,569 15,331 15,546 Loss from Operations ( 914 ) ( 1,011 ) ( 2,544 ) ( 2,552 ) Other Income (Expense) Interest expense ( 63 ) ( 6 ) ( 98 ) ( 13 ) Interest income 7 18 14 38 Gain (loss) on disposal of assets 248 - 248 - Other income, net 192 12 164 25 Loss Before Income Taxes ( 722 ) ( 999 ) ( 2,380 ) ( 2,527 ) Income Tax Provision (Benefit) - - - - Loss from Continuing Operations ( 722 ) ( 999 ) ( 2,380 ) ( 2,527 ) Discontinued Operations Earnings from discontinued operations, net of tax - - - 69 Gain on disposal of discontinued operations, net of tax - - - 635 Earnings from discontinued operations, net of tax - - - 704 Net Loss $ ( 722 ) $ ( 999 ) $ ( 2,380 ) $ ( 1,823 ) Basic Loss per Common Share Loss from continuing operations $ ( 0.11 ) $ ( 0.16 ) $ ( 0.37 ) $ ( 0.40 ) Earnings from discontinued operations - - - 0.11

View Full Filing

View this 10-Q filing on SEC EDGAR