Q4 8K & Other DD

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001857154/9e000eb3-7880-43c6-8874-aa0c405ce3fe.pdf

Full Year 2024 Consolidated Results (vs FY 2023) Krispy Kreme’s full year results reflect the sale of a majority ownership stake of Insomnia Cookies, as net revenue declined 1.2% to $1.67 billion in 2024, compared to $1.69 billion in the prior year. GAAP net income was $3.8 million, compared to a loss of $36.6 million. GAAP Diluted EPS was $0.02 compared to a loss of $0.23.

Total company organic revenue grew 5.0%, and was impacted adversely by an estimated 70 basis points from lost revenue due to the 2024 Cybersecurity Incident. Organic revenue growth was driven by Global Points of Access growth, strong marketing activations, and pricing actions. Adjusted EBITDA declined 8.6% to $193.5 million, primarily linked to the sale of a majority ownership stake of Insomnia Cookies and an estimated $10 million impact from the 2024 Cybersecurity Incident. Adjusted Net Income, diluted declined to $19.2 million from $46.2 million in the prior year.

Adjusted EPS declined $0.16 to $0.11 from $0.27 in the prior year, due to increased depreciation and amortization, as we invested in our global expansion as well as higher tax rates with a greater portion of earnings generated in higher tax rate jurisdictions. Diluted weighted average common shares outstanding for the full year 2024 were 171.5 million, compared to 170.5 million for the full year 2023