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.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 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 Commons8

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

Revenue91011126$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 profit1391011$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 income91011126-$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 income91011126-$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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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, 202568

Employees over time

  • 20222171

Timeline

  1. Jul 13, 2026New chief executive Allen C. Harper becomes CEO18
  2. Jun 12, 2024New chief executive Jeffrey Richart Geygan Geygan becomes CEO20
  3. Apr 2, 2024New chief executive Starlette B. Johnson becomes CEO19
  4. May 11, 2022New chief executive Robert J. Sarlls becomes CEO21
  5. Mar 5, 2019New chief executive Bryan J. Merryman becomes CEO22
  6. 1981Founded Founded1

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.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 18, 2025Raised $2.7 million in a private offering of equity 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.

Sources

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