Krispy Kreme Inc. reported net revenue of $375.3 million for the third quarter of 2025, a decline of 1.2% compared to the same period in 2024, mainly due to the 2024 sale of a majority stake in Insomnia Cookies Holdings, which contributed $10 million in the prior year. Organic revenue increased by 0.6%, or $2.2 million, primarily driven by growth in the International segment. The company reported a GAAP net loss of $20.1 million, compared to net income in the prior year, and adjusted EBITDA of $40.6 million. Cash provided by operating activities was $42.3 million, with free cash flow at $15.5 million. Global Points of Access decreased by 960, or 6.1%, to 14,851, reflecting the closure of underperforming locations. During the quarter, Krispy Kreme and McDonald's USA agreed to terminate their Business Relationship Agreement, effective July 2, 2025, and the company completed the sale of its remaining stake in Insomnia Cookies.