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RMCF on Nasdaq

Rocky Mountain Chocolate

Logo: http://www.bookit.com/travel_guide-m0g0c-Colorado-Shopping-Rocky_Mountain_Chocolate_Factory-372.html, Non-free logo, via Wikipedia5

American confectionery company

Rocky Mountain Chocolate, formerly Rocky Mountain Chocolate Factory, Inc., is an international franchiser, confectionery manufacturer and retail operator in the United States, with outlets in Panama and the Philippines. The company is based in the town of Durango, Colorado, United States of America. The company manufactures chocolate candies and other confections in its 53,000-square-foot (4,900 m2) production facility to supply its franchise locations.3 It employed 217 people in 2022.1 Its revenue was $32.3 million in 2022.1 Its shares trade on Nasdaq under the symbol RMCF.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$27.5MRevenue, fiscal 20266
-$4.6MNet income, fiscal 20266
1981Founded1

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  • TickerRMCF on Nasdaq1
  • IndustrySugar & Confectionery Products1
  • HeadquartersDurango1
  • Websitewww.rmcf.com
  • Legal formDelaware corporation1
  • LEI549300D6ZL62HPKRUC814
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States4

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Rocky Mountain chocolates
Photo: Wilfredor, CC0, via Wikimedia Commons9

Rocky Mountain Chocolate, formerly Rocky Mountain Chocolate Factory, Inc., is an international franchiser, confectionery manufacturer and retail operator in the United States, with outlets in Panama and the Philippines. The company is based in the town of Durango, Colorado, United States of America.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-13.0%Operating margin6
-16.6%Net margin6
-7.0%Revenue growth, 20266
-87.2%Return on equity6
-$2.4MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 78% of the revenue Rocky Mountain Chocolate broke down this way in fiscal 2026.

  1. Product$21.4M678%down 11% from 2025
  2. Franchise and Royalty Fees$6.1M622%up 10% from 2025
Products and services by year
Products and services202420252026
Product$22.0M$24.0M$21.4M
Franchise and Royalty Fees$5.9M$5.6M$6.1M

Business segments

Manufacturing brought in 71% of the revenue Rocky Mountain Chocolate broke down this way in fiscal 2026.

  1. Manufacturing$20.0M671%down 15% from 2025
  2. Franchising$6.1M622%up 10% from 2025
  3. Retail$2.0M67%up 35% from 2025
Business segments by year
Business segments202420252026
Manufacturing$21.8M$23.6M$20.0M
Franchising$5.9M$5.6M$6.1M
Retail$1.3M$1.5M$2.0M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue75¢$20.6M
  • Other costs21¢$5.8M
  • Interest3¢$840.0K
  • Income tax1¢$187.0K

Out of $27.5M in revenue.6 The company lost money this year.

Financial statements

Revenue101112136$27.5M in 2026−20% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $34.5M$34.5M20192020: $31.8M$31.8M2020−8%2021: $21.8M$21.8M2021−32%2022: $29.5M$29.5M2022+35%2023: $30.4M$30.4M2023+3%2024: $28.0M$28.0M2024−8%2025: $29.6M$29.6M2025+6%2026: $27.5M$27.5M2026−7%
Gross profit14101112$4.0M in 2023−43% since 2019
0$2.0M$4.0M$6.0M$8.0M2019: $7.0M$7.0M20192020: $6.5M$6.5M2020−7%2021: $3.1M$3.1M2021−53%2022: $4.9M$4.9M2022+61%2023: $4.0M$4.0M2023−19%
Operating income101112136-$3.6M in 2026
-$7.5M-$5.0M-$2.5M0$2.5M$5.0M2019: $3.0M$3.0M20192020: $1.4M$1.4M2020−54%2021: -$2.7M-$2.7M20212022: -$694.5K-$694.5K2022−75%2023: -$4.9M-$4.9M2023+604%2024: -$4.9M-$4.9M2024+0%2025: -$5.9M-$5.9M2025+21%2026: -$3.6M-$3.6M2026−40%
Net income101112136-$4.6M in 2026
-$7.5M-$5.0M-$2.5M0$2.5M2019: $2.2M$2.2M20192020: $1.0M$1.0M2020−54%2021: -$899.8K-$899.8K20212022: -$341.7K-$341.7K2022−62%2023: -$5.7M-$5.7M2023+1563%2024: -$4.2M-$4.2M2024−27%2025: -$6.1M-$6.1M2025+47%2026: -$4.6M-$4.6M2026−26%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2026-02-282025-02-282024-02-29
Total revenue$27.5M$29.6M$28.0M
Cost of sales$20.6M$23.9M$20.7M
Sales and marketing$950.0K$2.0M$2.1M
General and administrative$5.4M$6.3M$6.7M
Depreciation and amortization, exclusive of depreciation and amortization expense of $921, $775 and $750, respectively, included in cost of sales$484.0K$175.0K$138.0K
Total costs and expenses$31.1M$35.5M$32.9M
Loss from Operations-$3.6M-$5.9M-$4.9M
Interest expense-$840.0K-$454.0K-$53.0K
Interest income$54.0K$27.0K$79.0K
Gain on disposal of assets$0$247.0K$0
Other (expense) income, net-$786.0K-$180.0K$26.0K
Loss Before Income Taxes-$4.4M-$6.1M-$4.9M
Income Tax Provision$187.0K$0$0
Earnings (loss) from continuing operations-$4.6M-$6.1M-$4.9M
Earnings (loss) from discontinued operations, net of tax$0$0$704.0K
Net Loss-$4.6M-$6.1M-$4.2M
Loss from continuing operations-$1-$1-$1
Earnings from discontinued operations$0$0$0
Net loss-$0.56-$0.86-$0.66
Loss from continuing operations-$1-$1-$1
Earnings from discontinued operations$0$0$0
Net loss-$0.56-$0.86-$0.66
Weighted Average Common Shares Outstanding - Basic8.1M shares7.1M shares6.3M shares
Dilutive Effect of Employee Stock Awards0 shares0 shares0 shares
Weighted Average Common Shares Outstanding - Diluted8.1M shares7.1M shares6.3M shares
Amortization expense included in cost of goods sold$921.0K$775.0K$750.0K

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Corporate structure

Rocky Mountain Chocolate sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Rocky Mountain Chocolate

  • Rocky Mountain Chocolate Durango, Colorado, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Rocky Mountain Chocolate reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$513.6K19 Feb 28, 2013$513.6K19 Feb 29, 20120%
Buildings and improvements$4.8M19 Feb 28, 2013$4.7M19 Feb 29, 2012+1.3%
Machinery and equipment$8.9M19 Feb 28, 2013$8.6M19 Feb 29, 2012+3.3%
Furniture and fixtures$1.0M19 Feb 28, 2013$1.6M19 Feb 29, 2012−36.6%
Leasehold improvements$1.9M19 Feb 28, 2013$2.1M19 Feb 29, 2012−6.5%
Property and equipment, before depreciation$20.0M20 Feb 28, 2014$17.5M20 Feb 28, 2013+14.3%
Accumulated depreciation$11.5M20 Feb 28, 2014$10.7M20 Feb 28, 2013+7.3%
Property and equipment, net$8.5M20 Feb 28, 2014$6.8M20 Feb 28, 2013+25.2%

Real estate and locations

ItemLatestA year beforeChange
Stores64820 Feb 28, 201443219 Feb 28, 2013+50.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.9M20 Feb 28, 2014$5.3M20 Feb 28, 2013+10.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$4.2M20 Feb 28, 2014$1.0M20 Feb 28, 2013+302.7%
Intangible assets, net (excluding goodwill)$602.2K20 Feb 28, 2014$63520 Feb 28, 2013+94732.0%
Finite-lived intangibles, gross$1.4M20 Feb 28, 2014$757.6K20 Feb 28, 2013+80.3%
Accumulated amortization$763.7K20 Feb 28, 2014$756.9K20 Feb 28, 2013+0.9%
Finite-lived intangibles, net$7.1M20 Feb 28, 2014$63519 Feb 28, 2013+1116660.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$4.4M20 Feb 28, 2014$4.2M20 Feb 28, 2013+4.5%
Finished goods$1.8M20 Feb 28, 2014$1.6M20 Feb 28, 2013+10.7%

The story

The company was founded by Frank Crail with his friends Jim Hilton and Mark Lipinski. They opened their first store on May 23, 1981, on Main Avenue in Durango's Historic District adjacent to the Durango and Silverton Narrow Gauge Railroad. In 1982, both Hilton and Lipinski left the business, selling their interests to Crail. An offsite facility in the Bodo Industrial District of Durango was built that same year, with the company also opening their first franchises, one in Colorado Springs, Colorado and one in Park City, Utah.

In 2013, Kellogg's in the United States partnered with the Rocky Mountain Chocolate to release a limited edition cereal under the latter's brand which consists of sweetened corn flakes, almond slices, and chocolate pieces.

In 2022 Rocky Mountain Chocolate was named America's Best Chocolate and Candy Store by Newsweek.

In 2023 Rocky Mountain Chocolate divested itself of all assets and marks pertaining to its activity as a marketer and franchisor of a number of frozen yogurt brands held in its U-Swirl, Inc. subsidiary.

In September 2023, Rocky Mountain Chocolate Factory announced that it would remove the word "factory" from its name, rebranding to Rocky Mountain Chocolate.

From Wikipedia’s article on Rocky Mountain Chocolate, shared under CC BY-SA 4.0.7

Leadership

Who has led Rocky Mountain Chocolate, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Bryan J. Merryman2019–2022
  2. Robert J. Sarlls2022–2023
  3. Starlette B. Johnson2024
  4. Jeffrey Richart Geygan Geygan2024–2026
  5. Allen C. Harper2026–now

Chair

  1. Franklin E. Crail2006–2015
  2. Franklin E. Crail2015–2019

President

  1. Franklin E. Crail2006–2015
  2. Franklin E. Crail2015–2019

Chief financial officer

  1. Bryan J. Merryman2006–2015
  2. Bryan J. Merryman2015–2022
  3. A. Allen Arroyo2022–2023
  4. Carrie E. Cass2024–now

Chief operating officer

  1. Bryan J. Merryman2006–2015
  2. Bryan J. Merryman2015–2018
  3. David A. Denker2026–now
1990200020102020
Board members and other officers (41)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorAlberto R. Perez-Jacome Friscione named Dec 31, 202571

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Rocky Mountain Chocolate Factory, Inc. Colorado8
  • U-Swirl, Inc. Nevada8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Employees over time

  • 20222171

Timeline

  1. Oct 6, 20268-K Entered a material agreement; Regulation FD disclosure72
  2. Aug 24, 20268-K Executive or director change; Other events73
  3. Aug 12, 20268-K Regulation FD disclosure74
  4. Aug 7, 20268-K Executive or director change; Shareholder vote75
  5. Jul 14, 20268-K Executive or director change76
  6. Jul 14, 20268-K Results of operations77
  7. Jul 13, 2026New chief executive Allen C. Harper becomes CEO21
  8. Jul 6, 20268-K Executive or director change78
  9. Jun 30, 20268-K Other events79
  10. Jun 26, 20268-K Executive or director change80
  11. Jun 12, 20268-K Change of auditor81
  12. Jun 1, 20268-K Results of operations82
  13. Jan 13, 20268-K Results of operations83
  14. Jun 12, 2024New chief executive Jeffrey Richart Geygan Geygan becomes CEO23
  15. Apr 2, 2024New chief executive Starlette B. Johnson becomes CEO22
  16. May 11, 2022New chief executive Robert J. Sarlls becomes CEO24
  17. Mar 5, 2019New chief executive Bryan J. Merryman becomes CEO25
  18. 1981Founded Founded1

Calendar

When it reported results

  1. Jul 14, 2026Reported quarterly or annual results77
  2. Jun 1, 2026Reported quarterly or annual results82
  3. Jan 13, 2026Reported quarterly or annual results83
  4. Oct 14, 2025Reported quarterly or annual results84
  5. Jul 16, 2025Reported quarterly or annual results85
  6. Jun 20, 2025Reported quarterly or annual results86
  7. Oct 15, 2024Reported quarterly or annual results87
  8. Jul 15, 2024Reported quarterly or annual results88

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

457 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 96 major events, 199 insider forms, 53 large holders, 1 private raises, 87 other. The latest 20:

  1. Oct 14, 2026NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  2. Oct 6, 20268-K CURRENT REPORT EDGAR
  3. Sep 22, 20264 20260922MKF4 EDGAR
  4. Sep 22, 20264 20260922BQF4 EDGAR
  5. Sep 22, 20264 20260922APJF4 EDGAR
  6. Sep 9, 20264 EDGAR
  7. Sep 3, 20264 20260903SC04 EDGAR
  8. Sep 3, 20264 20260903MLK04 EDGAR
  9. Sep 3, 20264 20260903BQ04 EDGAR
  10. Sep 3, 20264 EDGAR
  11. Aug 26, 20264 20260826MKF3 EDGAR
  12. Aug 26, 20264 20260826BQF3 EDGAR
  13. Aug 26, 20264 20260826APJF3 EDGAR
  14. Aug 26, 20263 20260826DDF3 EDGAR
  15. Aug 25, 202611-K EDGAR
  16. Aug 24, 20268-K CURRENT REPORT EDGAR
  17. Aug 12, 20268-K CURRENT REPORT EDGAR
  18. Aug 7, 20268-K CURRENT REPORT EDGAR
  19. Jul 14, 20268-K CURRENT REPORT EDGAR
  20. Jul 14, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR

The 457 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026Jeffrey R. Geygan64$390.0K$390.0K98
2026Carrie Cass61$200.0K$200.0K98
2026Ryan McGrath$73.5K98
2025Interim ChiefExecutive Officer$303.0K$663.8K98
2025Chief Financial Officer$115.4K$221.8K98
2025Former Sr. Vice President– Operations$166.3K98

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$2.7M 2025–2025
Money received by yearMoney received by year, 2025–2025: $2.7M in all. Private raises (Form D) $2.7M.$0$1M$2M$3M2025 · Private raises (Form D): $2.7M2025
Figures by year
YearPrivate raises (Form D)Total
2025$2.7M$2.7M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Dec 18, 2025Raised $2.7 million in a private offering of equity71 Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Renaissance Technologies LLC263,823$234.7K0.0%−17,095
Dimensional Fund Advisors LP82,104$73.0K0.0%−12,652
Vanguard Capital Management LLC66,950$59.6K0.0%No change
Geode Capital Management, LLC60,880$54.2K0.0%−8,369
Wealth Enhancement Advisory Services, LLC33,576$37.9K0.0%New
Leverty Financial Group, LLC40,371$35.9K0.0%No change
Susquehanna International Group, Llp33,607$29.9K0.0%New
Vanguard Fiduciary Trust Co30,507$27.2K0.0%No change
Salvus Wealth Management, LLC23,567$21.0K0.0%No change
Allworth Financial LP23,500$20.9K0.0%No change
CacheTech Inc.17,740$15.8K0.0%No change
4wealth Advisors, Inc.15,225$13.1K0.0%−1,000
Private Advisor Group, LLC13,697$12.2K0.0%New
Northern Trust Corp12,384$11.0K0.0%New
Tower Research Capital LLC (TRC)3,878$3.5K0.0%+1,796
Fifth Third Bancorp1,000$8900.0%No change
Morgan Stanley623$5550.0%+1
Arax Advisory Partners600$5340.0%New
Wells Fargo & Company/mn323$2870.0%No change
Leo H. Evart, Inc.105$930.0%No change
Gsa Capital Partners Llp40,633$360.0%+26,914
Hrt Financial LP14,197$120.0%New
Triumph Capital Management8$70.0%No change
SBI Securities Co., Ltd.6$50.0%+4
Caitong International Asset Management Co., Ltd4$40.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Rocky Mountain Chocolate is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARROCKY MOUNTAIN CHOCOLATE FACTORY INC2
  • CIK0000785815
  • Employer ID (EIN)84-09106962
  • Filer statusSmaller reporting company2
  • Incorporated inColorado2
  • Fiscal year endsFebruary 282
  • Industry code (SIC)2060 Sugar & Confectionery Products2
  • Business address265 Turner Dr, Durango, CO 813012
  • Mailing address265 Turner Drive, Durango, CO 813012
  • Phone30325905542
  • Shares outstanding6,092,626 as of Jan 14, 201599
  • Public float$56.2M as of Aug 31, 201320
  • On EDGAR sinceFeb 10, 19952
  • Filings802 in all: 4 (392), 8-K (126), 10-Q (59), 4/A (44), DEF 14A (20), 10-K (16), 11-K (15), SC 13G/A (14)2
    All 48 form types

    SC 13G (13), S-8 (9), CT ORDER (7), DEFA14A (7), UPLOAD (7), CORRESP (6), SC 13D/A (6), SC 14D1/A (6), NO ACT (5), S-8 POS (5), 10-K/A (4), 3 (4), 10-K405 (3), SC TO-I/A (3), 10-K405/A (2), 424B3 (2), NT 10-K (2), PRE 14A (2), SC 13D (2), 10-C (1), 11-K/A (1), 15-12G (1), 25-NSE (1), 424A (1), 424B1 (1), 425 (1), 8-A12G (1), 8-A12G/A (1), 8-K/A (1), 8-K12G3 (1), NT 10-Q (1), S-1 (1), S-1/A (1), SC 14D1 (1), SC 14D9 (1), SC 14D9/A (1), SC 14N (1), SC TO-C (1), SC TO-I (1), SC14D9C (1)

  • Latest filingsAnnual report (10-K) Jun 11, 2014
    Quarterly report (10-Q) Jan 14, 2015
    Proxy statement (DEF 14A) Jan 8, 2015
    Latest 8-K (8-K) Feb 20, 2015

Sources

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