RMCF

MKT CAP:$18M

Rocky Mountain Chocolate Factory, Inc.

Market Cap

$18M

Consumer Defensive·Food Confectioners·🇺🇸 United States·NASDAQ

Consumer Def.·Food Confectioners·🇺🇸·NASDAQ

Stock Price

$2.13+$0.20 (+10.36%)

Apr 21, 2026

Company Details

Rocky Mountain Chocolate Factory, Inc., together with its subsidiaries, operates as a confectionery franchisor, manufacturer, and retail operator. It operates through five segments: Franchising, Manufacturing, Retail Stores, U-Swirl Operati...

CEO

Jeffrey Richart Geygan

IPO Date

Feb 11, 1986

Website

www.rmcf.com

Key Metrics TTM

Revenue

$30M

+6.1% YoY

Net Income

-$4M

EPS (Diluted)

-$0.53

Free Cash Flow

-$2M

Revenue / Share

$3.80

Gross Margin

21.0%

Operating Margin

-10.9%

Net Margin

-13.6%

FCF Margin

-7.0%

P/S

0.6x

P/E

—

Earnings Reports

Q3 2026

Jan 13, 2026

$8M-4.4%EPS -$0.02

Q2 2026

Oct 14, 2025

$7M+6.9%EPS -$0.09

Q1 2026

Jul 15, 2025

$6M-0.5%EPS -$0.04

FY 2025

Jun 20, 2025

$30MEPS -$0.86

Q4 2025

Jun 20, 2025

$9M+22.6%EPS -$0.38

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$7M	$2M	$398.6K
Q4 21	$8M	$2M	$837.2K
Q1 22	$8M	$2M	$645.9K
Q2 22	$8M	$3M	$257.8K
Q3 22	$9M	$3M	-$2M
Q4 22	$8M	$3M	$570.5K
Q2 24	$7M	$1M	-$1M
Q3 24	$8M	$1M	-$776.0K
Q4 24	$7M	$1M	-$2M
Q1 25	$6M	$280.0K	-$2M
Q2 25	$6M	$1M	-$914.0K
Q3 25	$8M	$1M	-$700.0K
Q4 25	$9M	$658.0K	-$3M
Q1 26	$6M	$1M	-$145.0K
Q2 26	$7M	$2M	-$479.0K
Q3 26	$8M	$3M	$82.0K

Valuation

Quarter	P/S	P/E
Q3 21	0.8x	—
Q4 21	0.8x	—
Q1 22	0.6x	5.3x
Q2 22	0.6x	5.2x
Q3 22	0.6x	12.2x
Q4 22	0.6x	—
Q2 24	0.6x	—
Q3 24	0.6x	—
Q4 24	0.6x	—
Q1 25	0.6x	—
Q2 25	0.6x	—
Q3 25	0.6x	—
Q4 25	0.6x	—
Q1 26	0.6x	—
Q2 26	0.6x	—
Q3 26	0.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$1M	$1M
Q4 21	$2M	$2M
Q1 22	$385.8K	-$71.6K
Q2 22	$1M	$928.2K
Q3 22	-$570.4K	-$704.0K
Q4 22	$2M	$2M
Q2 24	-$544.0K	-$1M
Q3 24	-$2M	-$3M
Q4 24	$129.4K	-$271.0K
Q1 25	-$2M	-$3M
Q2 25	-$4M	-$5M
Q3 25	-$2M	-$3M
Q4 25	$1M	-$420.0K
Q1 26	$350.0K	$182.0K
Q2 26	-$488.0K	-$544.0K
Q3 26	-$1M	-$1M

Capital Expenditures

Quarter	CapEx
Q3 21	$26.2K
Q4 21	$77.4K
Q1 22	$457.4K
Q2 22	$113.4K
Q3 22	$133.6K
Q4 22	$243.2K
Q2 24	$702.0K
Q3 24	$1M
Q4 24	$400.4K
Q1 25	$417.0K
Q2 25	$1M
Q3 25	$614.0K
Q4 25	$2M
Q1 26	$168.0K
Q2 26	$56.0K
Q3 26	$38.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-8.6%	-14.7%
Q4 21	+1.2%	-16.3%
Q1 22	+181.0%	-7.7%
Q2 22	+48.8%	+47.2%
Q3 22	+17.7%	+53.2%
Q4 22	+1.1%	+4.9%
Q2 24	-13.6%	+8.9%
Q3 24	-2.9%	+10.5%
Q4 24	-14.7%	-15.6%
Q1 25	-22.9%	+3.8%
Q2 25	-2.7%	-3.6%
Q3 25	+2.5%	+1.4%
Q4 25	+22.6%	+31.3%
Q1 26	-0.5%	-18.9%
Q2 26	+6.9%	+0.1%
Q3 26	-4.4%	-13.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$112.2K	1.6%
Q4 21	$112.2K	1.4%
Q1 22	$146.2K	1.9%
Q2 22	$123.5K	1.6%
Q3 22	$439.6K	5.2%
Q4 22	$363.9K	4.4%
Q2 24	$123.0K	1.9%
Q3 24	$166.0K	2.2%
Q4 24	-$53.0K	-0.7%
Q1 25	$40.0K	0.6%
Q2 25	$41.0K	0.6%
Q3 25	$156.0K	2.0%
Q4 25	$36.0K	0.4%
Q1 26	$81.0K	1.3%
Q2 26	$56.0K	0.8%
Q3 26	$35.0K	0.5%

OpEx Breakdown

Quarter	G&A	S&M
Q3 21	$788.7K	$382.5K
Q4 21	$501.3K	$447.4K
Q1 22	$844.8K	$412.7K
Q2 22	$2M	$405.9K
Q3 22	$4M	$377.2K
Q4 22	$975.9K	$414.9K
Q2 24	$2M	$442.0K
Q3 24	$1M	$572.0K
Q4 24	$2M	$644.7K
Q1 25	$1M	$430.0K
Q2 25	$2M	$138.0K
Q3 25	$1M	$272.0K
Q4 25	$2M	$1M
Q1 26	$1M	$206.0K
Q2 26	$976.0K	$223.0K
Q3 26	$1M	$242.0K

Revenue Segments

Quarter	Franchise and Royalty Fees	Product
Q3 21	$1M	$6M
Q4 21	$1M	$7M
Q1 22	$2M	$6M
Q2 22	$2M	$6M
Q2 24	$2M	$5M
Q3 24	$1M	$6M
Q1 25	$1M	$5M
Q2 25	$1M	$5M
Q3 25	$1M	$7M
Q4 25	$2M	$7M
Q1 26	$2M	$5M
Q2 26	$2M	$5M
Q3 26	$1M	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$8M	$0	$8M
Q1 23	$6M	$0	$6M
Q2 23	$5M	$0	$5M
Q3 23	$3M	$0	$3M
Q4 23	$5M	$0	$5M
Q1 24	$5M	$0	$5M
Q2 24	$4M	$0	$4M
Q3 24	$2M	$0	$2M
Q4 24	$2M	$0	$2M
Q1 25	$637.0K	$0	$637.0K
Q2 25	$973.0K	$0	$973.0K
Q3 25	$1M	$0	$1M
Q4 25	$720.0K	$0	$720.0K
Q1 26	$893.0K	$0	$893.0K
Q2 26	$2M	$0	$2M
Q3 26	$641.0K	$0	$641.0K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	6M	-0.0%	+4.8%
Q4 21	6M	-0.0%	+4.5%
Q1 22	6M	+0.1%	+3.8%
Q2 22	6M	+0.0%	+0.1%
Q3 22	6M	-2.4%	-2.3%
Q4 22	6M	+2.4%	+0.0%
Q2 24	6M	+0.1%	+0.1%
Q3 24	6M	+0.1%	+0.2%
Q4 24	6M	+0.1%	+2.7%
Q1 25	6M	+0.3%	+0.6%
Q2 25	7M	+5.8%	+6.3%
Q3 25	8M	+14.3%	+21.3%
Q4 25	8M	+0.5%	+21.8%
Q1 26	8M	+0.8%	+22.5%
Q2 26	8M	+0.6%	+16.4%
Q3 26	8M	+0.2%	+2.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$32.0K	226
Q4 21	$40.7K	202
Q1 22	$37.6K	202
Q2 22	$39.2K	202
Q3 22	$42.1K	202
Q4 22	$38.3K	217
Q2 24	$41.5K	158
Q3 24	$48.7K	158
Q4 24	$45.9K	158
Q1 25	$40.0K	160
Q2 25	$39.9K	160
Q3 25	$49.3K	160
Q4 25	$55.6K	160
Q1 26	$39.8K	160
Q2 26	$42.6K	160
Q3 26	$47.1K	160

Revenue / Employee