Rocky Mountain Chocolate Q2 revenue flat; gross margin plunges to 7.6%

Rocky Mountain Chocolate Factory, Inc.

2024-Q2 EPS reported -$0.29 revenue$12,993,864

Revenue unchanged at $6.6M; product/retail gross profit fell to $0.4M from $1.2M, margin 7.6% vs 23.3%.
Net loss from continuing ops improved to $(1.0M) ($0.16/share) from $(3.2M) ($0.51/share); Adjusted EBITDA -$0.6M vs $0.7M.
Operating expenses down 16% to $7.6M primarily due to lower proxy contest costs from prior year.
CEO cites logistics optimization (driver fleet cut 33%), new franchisee royalty structure, brand refresh; expects eCommerce/specialty retail 2H revenue to exceed FY2023 total.
Labor efficiency improved: labor salaries per pound produced down 16% vs Q1 fiscal 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rocky Mountain Chocolate Factory, Inc. reported the three and six months ended August 31, 2023 results: revenue $6.6 million, net income net loss from continuing operations of $1.0 million, EPS $(0.16) per share.

Period: the three and six months ended August 31, 2023
Revenue: $6.6 million
Net income: net loss from continuing operations of $1.0 million
EPS: $(0.16) per share
Result: reported results

Exact text from the filing

Total revenue of $6.6 million in the second quarter of 2024 was approximately unchanged compared to $6.6 million in the second quarter of 2023.

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Source: SEC EDGAR

accession 0001437749-23-028091

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