---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-015657"
form_type: "8-K"
ticker: "RMCF"
cik: "0001616262"
company_name: "Rocky Mountain Chocolate Factory, Inc."
filed_at: "2023-05-24T23:59:59+00:00"
generated_at: "2026-06-14T16:00:37.595652+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# RMCF reports Q4 net loss $1.9M; unveils strategic transformation plan to double revenue

## Summary
- Q4 revenue $8.1M (+5% YoY) but gross profit fell to $0.1M due to $0.6M inventory write-off.
- Net loss from continuing ops of $1.9M ($0.29 per share) vs net income of $0.4M in prior-year quarter.
- FY2023 net loss $5.5M ($0.88 per share) compared to net loss $0.5M ($0.08) in FY2022.
- Strategic plan targets: double chocolate revenue, 250+ stores with >$800k/store, restore factory margins to 25-30%, $1.2M cost savings.
- Divested U-Swirl yogurt business; operations reported as discontinued.

## SEC filing metadata
- accession: 0001437749-23-015657
- form_type: 8-K
- ticker: RMCF
- cik: 0001616262
- company_name: Rocky Mountain Chocolate Factory, Inc.
- filed_at: 2023-05-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616262/000143774923015657/0001437749-23-015657-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616262/000143774923015657/rmcfd20230523_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-015657
- JSON: https://secwatch.observer/filing/0001437749-23-015657.json
- Plain text: https://secwatch.observer/filing/0001437749-23-015657.txt

## Key facts
- Earnings Releases
  Rocky Mountain Chocolate Factory, Inc. reported the full year ended February 28, 2023 results: revenue $30.4 million, net income $5.5 million, EPS $(0.88) per share.
  - Period: the full year ended February 28, 2023
  - Revenue: $30.4 million
  - Net income: $5.5 million
  - EPS: $(0.88) per share
  - Result: reported results
  source text: Fiscal Year 2023 Results vs. Fiscal Year 2022 ● Total revenue increased 3% to $30.4 million compared to $29.5 million. ● Total factory and retail gross profit was $4.0 million compared to $4.9 million, with gross margin of 16.4% compared to 20.9%. The decrease was primarily due to lower production volumes, expenses associated with obsolete inventory and higher costs of raw materials. ● Total operating expenses increased to $35.3 million compared to $30.2 million. Excluding one-time costs, including those related to the solicitation of proxies and severance payments, fiscal year 2023 operating expenses were $29.2 million. ● Net loss from continuing operations increased to $5.5 million or $(0.88) per share, compared to net loss from continuing operations of $0.5 million or $(0.08) per share. ● Adjusted EBITDA (a non-GAAP measure defined below) was $2.6 million compared to $4.1 million. ● Cash used from operations was $2.1 million compared to cash generated from operations of $2.9 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616262/000143774923015657/0001437749-23-015657-index.htm
- Earnings Releases
  Rocky Mountain Chocolate Factory, Inc. reported the three months ended February 28, 2023 results: revenue $8.1 million, net income $1.9 million, EPS $(0.29) per share.
  - Period: the three months ended February 28, 2023
  - Revenue: $8.1 million
  - Net income: $1.9 million
  - EPS: $(0.29) per share
  - Result: reported results
  source text: Fiscal Q4 2023 Results vs. Year-Ago Quarter ● Total revenue increased 5% to $8.1 million compared to $7.8 million. The increase was driven primarily by higher pricing, partially offset lower pound volume. Systemwide revenue per store was up 1.5%. ● Total factory and retail gross profit decreased to $0.1 million compared to $0.9 million, with gross margin of 1.2% compared to 14.7%. The decrease was primarily due to the Company writing off $0.6 million of obsolete inventory as a result of undertaking an aggressive effort to rationalize the products it offers and to reduce total inventory levels. ● Total operating expenses increased to $10.1 million compared to $7.2 million. The increase was primarily driven by one-time items, including costs associated with the solicitation of proxies and severance payments. Excluding these non-recurring items, fiscal Q4 operating expenses were $8.5 million. 1 ● Net loss from continuing operations increased to $1.9 million or $(0.29) per share, compared
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616262/000143774923015657/0001437749-23-015657-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.