AI-extracted from the 10-Q filed 2026-10-14 — Q3 FY2026 (quarter ended September 26, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Winmark's discrete third-quarter revenue rose to $27.9M from $22.6M, driven mainly by the new $3.8M North American advertising fund and 3.8% royalty growth, with net income of $11.8M.
Biggest Revenue Drivers
Royalties$21.7M+3.8% YoY
primarily from higher franchise retail sales, and to a lesser extent, additional franchise stores
North American advertising fund$3.8Mn/a
Plato's Closet ad fund contributions commenced July 1, 2026; no contributions in 2025
Biggest Revenue Drivers
Total revenue: $27.9M+23% YoY
Royalties$21.7M+3.8% YoY
primarily from higher franchise retail sales, and to a lesser extent, additional franchise stores
North American advertising fund$3.8Mn/a
Plato's Closet ad fund contributions commenced July 1, 2026; no contributions in 2025
Merchandise sales$1.0M+49% YoY
increase in technology purchases by franchisees
Franchise fees$0.3M-21% YoY
Largest Expense Items
North American advertising fund expense$3.8Mn/a
offsets advertising fund revenue; no expense in 2025
Selling, general and administrative expenses$7.3M+4.1% YoY
increase in compensation related expenses for investments in technology and marketing
Cost of merchandise sold$0.9M+43% YoY
increase due to higher Direct Franchisee Sales
Margins: Income from operations was 56.6% of revenue versus 65.9% a year earlier, largely because the advertising fund adds revenue and an equal expense. Net income margin fell to 42.4% from 49.2%.
Watch Items from the Filing
Franchisee relationships may be adversely affected by the new Software Fee and North American Advertising Funds, per the added risk factor.
Royalties represent 77.8% of Q3 revenue, concentrating results in franchisee retail sales.
Repurchased 33,024 shares for $9.8M in the first nine months; $1.75M of repurchases remained in accrued liabilities at quarter end.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Hake Lisa SchurkeCHIEF MARKETING OFFICERGrant or award · Jun 1, 2026
Heffes Brett DCHAIR AND CEOGrant or award · Jun 1, 2026
Gaudette Renae M.CHIEF OPERATING OFFICERGrant or award · Jun 1, 2026
Ishaug Anthony DCHIEF FINANCIAL OFFICERGrant or award · Jun 1, 2026
Credendino KeithReporting ownerGrant or award · Jun 1, 2026
Hoppe Stephanie S.Reporting ownerGrant or award · Jun 1, 2026
Sprenger Gina DecaroReporting ownerGrant or award · Jun 1, 2026
Smith Philip IrvingReporting ownerGrant or award · Jun 1, 2026
Becker Amy CReporting ownerGrant or award · Jun 1, 2026
About WINMARK CORP (WINA): stock profile, AI score and financials
WINMARK CORP (WINA) stock profile, AI quality score, and SEC EDGAR financial data, a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores WINA at 57.6/100 on a composite quality score built from its SEC filings, placing it at rank #1,079 of 2,925 stocks — the top half of the AI-ranked universe. WINA scores in the top quartile across balance sheet strength (99.8), profitability (95.6), free cash flow (94.4). Areas of concern include revenue scale (14.7) and institutional flow (15.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 34.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q3 2026), WINMARK CORP reports quarterly revenue of $27.9M, net income of $11.8M, an operating margin of 56.6%. Top institutional holders of WINA by reported 13-F value include BlackRock, Neuberger Berman Group, RENAISSANCE TECHNOLOGIES, based on the most recent SEC filings. WINA trades on the Nasdaq exchange and files with the SEC under CIK 908315. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate WINA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for WINMARK CORP directly from SEC EDGAR.