US Market News
3月前
Winmark Corporation Announces First Quarter ResultsApril 15, 2026 11:19 AM
Business Wire
Winmark Corporation (Nasdaq: WINA) announced today net income for the quarter ended March 28, 2026 of $9,254,700 or $2.50 per share diluted compared to net income of $9,956,400 or $2.71 per share diluted in 2025. First quarter 2025 results included $2.2 million of leasing income from the settlement of customer litigation.
“During the quarter we introduced two significant enhancements to our business model in partnership with our franchisees,” noted Brett D. Heffes, Chair and Chief Executive Officer. “We are launching a North American Ad Fund for Plato’s Closet as well as modernizing the point-of-sale offering for our franchisees. These two improvements are intended to provide permanent vehicles to fund ongoing reinvestment in marketing, technology and innovation initiatives on behalf of our franchisees.” For additional details on these announcements, please refer to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 16, 2026.
Winmark - the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At March 28, 2026, there were 1,383 franchises in operation and over 2,800 available territories. An additional 79 franchises have been awarded but are not open.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.
WINMARK CORPORATION
CONDENSED BALANCE SHEETS
(Unaudited)
March 28, 2026
December 27, 2025
ASSETS
Current Assets:
Cash and cash equivalents
$
19,828,300
$
10,295,700
Restricted cash
100,000
165,000
Receivables, net
2,002,500
1,483,500
Income tax receivable
—
463,600
Inventories
421,400
362,500
Prepaid expenses
2,698,800
1,325,700
Total current assets
25,051,000
14,096,000
Property and equipment, net
1,138,400
1,219,000
Operating lease right of use asset
1,670,700
1,761,500
Intangible assets, net
2,197,800
2,286,300
Goodwill
607,500
607,500
Other assets
525,400
506,400
Deferred income taxes
4,407,400
4,407,400
$
35,598,200
$
24,884,100
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current Liabilities:
Accounts payable
$
1,057,500
$
1,673,900
Income tax payable
1,919,100
—
Accrued liabilities
4,496,800
2,324,800
Deferred revenue
1,654,700
1,667,300
Total current liabilities
9,128,100
5,666,000
Long-Term Liabilities:
Line of credit/Term loan
30,000,000
30,000,000
Notes payable, net
29,965,600
29,961,000
Deferred revenue
8,307,000
8,350,100
Operating lease liabilities
2,235,800
2,414,200
Other liabilities
2,170,400
2,175,200
Total long-term liabilities
72,678,800
72,900,500
Shareholders’ Equity (Deficit):
Common stock, no par, 10,000,000 shares authorized, 3,577,671 and 3,571,861 shares issued and outstanding
21,260,800
19,612,800
Retained earnings (accumulated deficit)
(67,469,500
)
(73,295,200
)
Total shareholders’ equity (deficit)
(46,208,700
)
(53,682,400
)
$
35,598,200
$
24,884,100
WINMARK CORPORATION
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended
March 28, 2026
March 29, 2025
Revenue:
Royalties
$
19,262,800
$
17,774,700
Leasing income
—
2,307,800
Merchandise sales
653,900
941,300
Franchise fees
342,900
332,100
Other
590,100
563,800
Total revenue
20,849,700
21,919,700
Cost of merchandise sold
618,500
888,300
Selling, general and administrative expenses
7,869,600
7,434,800
Income from operations
12,361,600
13,596,600
Interest expense
(613,900
)
(613,900
)
Interest and other income
118,700
149,900
Income before income taxes
11,866,400
13,132,600
Provision for income taxes
(2,611,700
)
(3,176,200
)
Net income
$
9,254,700
$
9,956,400
Earnings per share - basic
$
2.59
$
2.81
Earnings per share - diluted
$
2.50
$
2.71
Weighted average shares outstanding - basic
3,573,767
3,538,647
Weighted average shares outstanding - diluted
3,708,538
3,672,943
WINMARK CORPORATION
CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended
March 28, 2026
March 29, 2025
OPERATING ACTIVITIES:
Net income
$
9,254,700
$
9,956,400
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment
95,200
97,200
Amortization of intangible assets
88,500
88,500
Compensation expense related to stock options
614,100
536,600
Operating lease right of use asset amortization
90,800
82,200
Tax benefits on exercised stock options
302,800
—
Change in operating assets and liabilities:
Receivables
(519,000
)
(1,250,000
)
Income tax receivable/payable
2,079,900
2,980,000
Inventories
(58,900
)
59,400
Prepaid expenses
(1,373,100
)
323,700
Other assets
(19,000
)
(25,200
)
Accounts payable
(616,400
)
(18,000
)
Accrued and other liabilities
1,993,500
2,018,300
Deferred revenue
(55,800
)
229,300
Net cash provided by operating activities
11,877,300
15,078,400
INVESTING ACTIVITIES:
Purchase of property and equipment
(14,600
)
(51,200
)
Net cash used for investing activities
(14,600
)
(51,200
)
FINANCING ACTIVITIES:
Repurchases of common stock
—
(2,249,900
)
Proceeds from exercises of stock options
1,033,900
47,700
Dividends paid
(3,429,000
)
(3,186,000
)
Net cash used for financing activities
(2,395,100
)
(5,388,200
)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH
9,467,600
9,639,000
Cash, cash equivalents and restricted cash, beginning of period
10,460,700
12,329,800
Cash, cash equivalents and restricted cash, end of period
$
19,928,300
$
21,968,800
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest
$
604,000
$
604,000
Cash paid for income taxes
$
207,600
$
196,200
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Condensed Balance Sheets to the total of the same amounts shown above:
Three Months Ended
March 27, 2026
March 29, 2025
Cash and cash equivalents
$
19,828,300
$
21,828,800
Restricted cash
100,000
140,000
Total cash, cash equivalents and restricted cash
$
19,928,300
$
21,968,800
View source version on businesswire.com: https://www.businesswire.com/news/home/20260414853459/en/
Anthony D. Ishaug
763/520-8500
Original: Winmark Corporation Announces First Quarter Results
US Market News
5月前
Winmark Corporation Announces Year End ResultsFebruary 18, 2026 11:13 AM
Business Wire
Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 27, 2025 of $41,654,100 or $11.30 per share diluted compared to net income of $39,954,200 or $10.89 per share diluted in 2024. The fourth quarter 2025 net income was $9,959,900 or $2.69 per share diluted compared to net income of $9,583,100 or $2.60 per share diluted for the same period last year. Revenues for the year ended December 27, 2025 were $86,055,700, up from $81,289,100 in 2024.
“During the year, Winmark made significant investments in marketing, technology, and innovation. We will continue to build a strong foundation in these areas to support our franchisees and enhance our shared business model,” commented Brett D. Heffes, Chair and Chief Executive Officer.
Winmark — the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 27, 2025, there were 1,378 franchises in operation and over 2,800 available territories. An additional 82 franchises have been awarded but are not open.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.
WINMARK CORPORATION
CONDENSED BALANCE SHEETS
(Unaudited)
December 27, 2025
December 28, 2024
ASSETS
Current Assets:
Cash and cash equivalents
$
10,295,700
$
12,189,800
Restricted cash
165,000
140,000
Receivables, net
1,483,500
1,336,400
Income tax receivable
463,600
96,400
Inventories
362,500
397,600
Prepaid expenses
1,325,700
1,205,400
Total current assets
14,096,000
15,365,600
Property and equipment, net
1,219,000
1,419,400
Operating lease right of use asset
1,761,500
2,108,700
Intangible assets, net
2,286,300
2,640,300
Goodwill
607,500
607,500
Other assets
506,400
491,200
Deferred income taxes
4,407,400
4,211,800
$
24,884,100
$
26,844,500
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current Liabilities:
Accounts payable
$
1,673,900
$
1,562,000
Accrued liabilities
2,324,800
1,866,200
Deferred revenue
1,667,300
1,659,700
Total current liabilities
5,666,000
5,087,900
Long-Term Liabilities:
Line of credit/Term loan
30,000,000
30,000,000
Notes payable, net
29,961,000
29,942,800
Deferred revenue
8,350,100
8,027,600
Operating lease liabilities
2,414,200
3,092,800
Other liabilities
2,175,200
1,739,500
Total long-term liabilities
72,900,500
72,802,700
Shareholders’ Equity (Deficit):
Common stock, no par, 10,000,000 shares authorized, 3,571,861 and 3,539,744 shares issued and outstanding
19,612,800
14,790,500
Retained earnings (accumulated deficit)
(73,295,200)
(65,836,600)
Total shareholders’ equity (deficit)
(53,682,400)
(51,046,100)
$
24,884,100
$
26,844,500
WINMARK CORPORATION
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
Quarter Ended
Fiscal Year Ended
December 27, 2025
December 28, 2024
December 27, 2025
December 28, 2024
Revenue:
Royalties
$
19,004,800
$
17,642,800
$
76,352,800
$
72,198,500
Leasing income
230,700
134,500
2,631,800
1,811,800
Merchandise sales
844,300
862,900
3,282,800
3,601,300
Franchise fees
437,800
362,800
1,525,800
1,545,600
Other
568,700
545,100
2,262,500
2,131,900
Total revenue
21,086,300
19,548,100
86,055,700
81,289,100
Cost of merchandise sold
786,300
816,700
3,104,400
3,379,200
Leasing expense
—
—
—
36,600
Provision for credit losses
—
—
—
(1,500)
Selling, general and administrative expenses
7,286,900
5,965,200
28,357,400
24,944,200
Income from operations
13,013,100
12,766,200
54,593,900
52,930,600
Interest expense
(612,900)
(693,600)
(2,446,800)
(2,856,900)
Interest and other income
273,800
295,100
988,500
1,150,300
Income before income taxes
12,674,000
12,367,700
53,135,600
51,224,000
Provision for income taxes
(2,714,100)
(2,784,600)
(11,481,500)
(11,269,800)
Net income
$
9,959,900
$
9,583,100
$
41,654,100
$
39,954,200
Earnings per share - basic
$
2.79
$
2.71
$
11.73
$
11.36
Earnings per share - diluted
$
2.69
$
2.60
$
11.30
$
10.89
Weighted average shares outstanding - basic
3,567,717
3,533,107
3,549,753
3,516,122
Weighted average shares outstanding - diluted
3,702,597
3,679,992
3,685,457
3,667,479
WINMARK CORPORATION
CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
Year Ended
December 27, 2025
December 28, 2024
OPERATING ACTIVITIES:
Net income
$
41,654,100
$
39,954,200
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment
392,700
445,300
Amortization of intangible assets
354,000
354,000
Provision for credit losses
—
(1,500)
Compensation expense related to stock options
2,283,300
1,988,000
Deferred income taxes
(195,600)
(159,400)
Operating lease right of use asset amortization
347,300
317,100
Tax benefits on exercised stock options
1,619,000
1,307,700
Change in operating assets and liabilities:
Receivables
(147,100)
138,900
Principal collections on lease receivables
—
104,700
Income tax receivable/payable
(1,986,200)
(1,372,800)
Inventories
35,100
(11,500)
Prepaid expenses
(120,300)
186,700
Other assets
(15,200)
(19,900)
Accounts payable
111,700
(157,400)
Accrued and other liabilities
233,900
(1,251,900)
Rents received in advance and security deposits
—
(28,000)
Deferred revenue
330,100
363,700
Net cash provided by operating activities
44,896,800
42,157,900
INVESTING ACTIVITIES:
Purchase of property and equipment
(192,300)
(194,900)
Net cash used for investing activities
(192,300)
(194,900)
FINANCING ACTIVITIES:
Payments on notes payable
—
(9,187,500)
Repurchases of common stock
(2,418,700)
—
Proceeds from exercises of stock options
4,957,800
5,033,700
Dividends paid
(49,112,700)
(38,865,900)
Net cash used for financing activities
(46,573,600)
(43,019,700)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH
(1,869,100)
(1,056,700)
Cash, cash equivalents and restricted cash, beginning of period
12,329,800
13,386,500
Cash, cash equivalents and restricted cash, end of period
$
10,460,700
$
12,329,800
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest
$
2,415,700
$
2,851,000
Cash paid for income taxes
$
11,814,700
$
11,168,700
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Balance Sheets to the total of the same amounts shown above:
Year Ended
December 27, 2025
December 28, 2024
Cash and cash equivalents
$
10,295,700
$
12,189,800
Restricted cash
165,000
140,000
Total cash, cash equivalents and restricted cash
$
10,460,700
$
12,329,800
View source version on businesswire.com: https://www.businesswire.com/news/home/20260218155943/en/
Anthony D. Ishaug
763/520-8500
Original: Winmark Corporation Announces Year End Results
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