RAVE Restaurant Group, Inc. filings document the public-company reporting of a Nasdaq-listed restaurant franchisor with common stock registered under the symbol RAVE. Form 8-K reports furnish quarterly and annual operating results for Pizza Inn and Pie Five, including revenue, net income, Adjusted EBITDA, comparable-store sales, and restaurant unit counts.
Proxy materials and meeting-result filings cover shareholder voting, director elections, auditor ratification, and equity incentive plan matters. Other 8-K disclosures address changes in the company's certifying accountants, while cover-page and exhibit disclosures identify its common-stock listing, Missouri incorporation, and Inline XBRL filings.
RAVE Restaurant Group, Inc. reported fiscal 2026 revenue of $12.9 million, up $0.9 million from fiscal 2025, and net income of $2.9 million, versus $2.7 million. Adjusted EBITDA, a non-GAAP measure, was $3.9 million, up $0.3 million. Fourth-quarter revenue rose 8.8% to $3.4 million, while net income fell 6.2% to $0.8 million and income before taxes fell 7.3% to $1.1 million; quarterly adjusted EBITDA increased 4.9% to $1.2 million.
Cash provided by operating activities was $3.6 million in fiscal 2026, compared with $3.4 million in fiscal 2025. Cash and short-term investments totaled $13.6 million as of June 28, 2026. Annual domestic comparable sales rose 2.4% at Pizza Inn and declined 9.9% at Pie Five; fourth-quarter domestic comparable sales declined 2.8% and 17.3%, respectively.
Pizza Inn's buffet restaurant count increased by a net one restaurant in fiscal 2026. The company signed a 10-buffet development agreement with a multi-brand operator, with the first five restaurants anticipated to open in fiscal 2027.
RAVE Restaurant Group reported fiscal 2026 revenue of $12.910 million, compared with $12.039 million in fiscal 2025; net income was $2.878 million, versus $2.702 million. Diluted earnings per share were $0.20, compared with $0.19. At June 28, 2026, cash and cash equivalents were $1.123 million, and short-term investments were $12.487 million.
RAVE franchises Pizza Inn and Pie Five restaurants. At June 28, 2026, it reported 109 franchised Pizza Inn restaurants and 13 franchised Pie Five units, including 18 international Pizza Inn restaurants. The 91 domestic Pizza Inn restaurants comprised 80 buffet, four delivery/carry-out and seven express units. The final Pizza Inn Express kiosk closed during the quarter, and the company says it does not intend to open new kiosks.
Supplier and distributor incentive revenue was $5.728 million; one supplier accounted for approximately 14.0% of fiscal 2026 revenue. The company is planning to relocate its headquarters within the Dallas market in January 2027 and is negotiating a new lease.
IMA Value LLP filed Amendment No. 5 to its Schedule 13D regarding Rave Restaurant Group, Inc. common stock. The filing reports that IMA Value LLP now beneficially owns 0.00 shares, representing 0% of the outstanding common stock, indicating its holdings are 5 percent or less of the class.
The filing notes that prior purchases were for investment purposes and that there are no current plans or proposals to influence the company’s control, board composition, capital structure, or listing status.
RAVE Restaurant Group reported stronger results for its third fiscal quarter ended March 29, 2026. Revenue rose to $3,223,000 from $2,966,000, while net income increased to $800,000 from $722,000, with diluted earnings per share improving to $0.06 from $0.05.
Management highlighted Pizza Inn’s 2.3% same store sales growth despite January weather that was estimated to reduce same store sales by 3.3%. Pre-tax profits grew by over eleven percent year over year. The company emphasized new restaurant openings, a development pipeline of contracted locations, and investments in additional franchise sales and construction leadership funded by a solid balance sheet, including $1.1 million in cash and $10.9 million in short-term investments.
Rave Restaurant Group reported higher earnings for the quarter ended March 29, 2026 as its Pizza Inn franchise base grew. Revenue rose to $3.2 million from $3.0 million, and net income increased to $0.8 million, or $0.06 per diluted share, up from $0.05.
For the first nine months, revenue reached $9.5 million and net income was $2.1 million, both above the prior year. Pizza Inn domestic retail sales grew, while Pie Five sales and units declined. The company held $1.1 million of cash and $10.9 million of U.S. Treasury bill investments with shareholders’ equity of $16.4 million.
Rave Restaurant Group, Inc. changed its independent auditor, dismissing Whitley Penn LLP and appointing Bodwell Vasek Wells DeSimone, LLP effective February 10, 2026. The prior auditor’s reports on the company’s financial statements for the fiscal years ended June 29, 2025 and June 30, 2024 contained no adverse opinions, disclaimers, or qualifications.
Rave states there were no disagreements with Whitley Penn on accounting principles, financial disclosures, or audit procedures, and no reportable events under Regulation S-K. The company also notes it did not consult with the new firm in advance on specific accounting applications or expected audit opinions.
Rave Restaurant Group, Inc. filed a current report to note that it issued a press release discussing financial results for its second fiscal quarter ended December 28, 2025. The full results are provided in the press release, which is included as Exhibit 99.1.
Rave Restaurant Group reported modestly stronger results for the quarter ended December 28, 2025. Revenue rose to $3.0 million from $2.9 million, while net income inched up to $0.6 million, keeping basic and diluted earnings per share flat at $0.04.
For the first six months, revenue grew to $6.3 million and net income to $1.3 million, lifting EPS to $0.09 from $0.08. Pizza Inn franchise revenue and domestic retail sales increased, helped by more buffet units and higher comparable sales, while Pie Five franchise revenue and sales declined on fewer units and softer comps. Cash and cash equivalents fell to $0.6 million, but short‑term U.S. Treasury investments increased to $10.3 million, leaving total assets at $17.5 million and shareholders’ equity at $15.5 million.
Rave Restaurant Group, Inc. held its Annual Meeting of Shareholders on December 9, 2025, where shareholders voted on director elections, auditor ratification and compensation matters. Of the 14,211,566 shares entitled to vote, 9,563,003 were represented in person or by proxy.
All four director nominees—Clinton J. Coleman, William C. Hammett, Jr., Robert B. Page and Mark E. Schwarz—were elected, each receiving between 6,267,784 and 6,382,315 votes for. Shareholders ratified Whitley Penn LLP as the independent registered public accounting firm for fiscal 2026 with 9,502,343 votes for, 12,675 against and 47,985 abstentions.
Shareholders approved the Company’s 2025 Long Term Incentive Plan with 6,337,247 votes for, 174,182 against and 18,587 abstentions, and also approved a proposal authorizing possible adjournment of the meeting related to that plan, with 6,393,650 votes for, 120,678 against and 15,688 abstentions. On Proposals 1, 3 and 4 there were 3,032,987 broker non-votes.
Rave Restaurant Group, Inc. filed an amended annual report (10-K/A) for the fiscal year ended June 29, 2025. The company’s common stock trades on the Nasdaq Capital Market under the symbol RAVE. As of November 6, 2025, there were 14,211,566 shares of common stock outstanding.
The filing lists exhibits and certifications, including a Policy Regarding Recovery of Excessive Incentive Based Compensation (Exhibit 97.1) filed with this amendment. As of December 27, 2024, the aggregate market value of non‑affiliate common equity was approximately $28.3 million, based on the Nasdaq Capital Market price. The report is signed by Chief Executive Officer Brandon L. Solano and Chief Financial Officer Jay D. Rooney.