Rave Restaurant Group, Inc. Releases Positive First Quarter 2025 Financial Results

Rave Restaurant Group, Inc., trading on the NASDAQ under the symbol RAVE, has recently disclosed its financial results for the first quarter of fiscal 2025. The company’s net income for the quarter stood at $0.5 million, demonstrating a robust 36.3% increase compared to the same period in the previous year. Income before taxes also saw a noticeable rise, climbing by $0.2 million to $0.7 million. Total revenue remained steady at $3.1 million for the quarter.

Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) experienced a $0.1 million boost, reaching $0.7 million for the first quarter of fiscal 2025 compared to the corresponding period in 2024. On a fully diluted basis, net income soared by 33% to $0.04 per share. However, Pizza Inn and Pie Five, the subsidiary brands, reported a decrease in domestic comparable store retail sales by 2.1% and 8.7%, respectively.

As of September 29, 2024, the company disclosed having $1.4 million in cash and cash equivalents, and short-term investments amounted to $7.1 million. The unit counts for Pizza Inn and Pie Five were reported as 102 and 26 domestically, and 20 domestically, respectively. Rave Restaurant Group’s positive financial performance marks its 18th consecutive quarter of profitability.

Brandon Solano, the CEO of Rave Restaurant Group, commented on the results, expressing satisfaction with the company’s financial achievements and hinting at upcoming growth initiatives. These include new online sales platforms, store openings, and innovative menu additions. Solano also highlighted recent menu additions like the Sandworm Pizzert, a dessert that has received positive customer feedback.

Chief Financial Officer Jay Rooney addressed the financial solidity, emphasizing the company’s strong balance sheet with $8.4 million in cash and liquid short-term investments. This financial strength positions Rave Restaurant Group favorably for potential share repurchases outlined in a pending shareholder vote in December.

It is important to note that Rave Restaurant Group, Inc. uses non-GAAP financial measures like EBITDA and Adjusted EBITDA as supplemental indicators of operating performance, intending to provide investors with a clearer insight into the company’s financial operations. These measures are deemed essential for assessing operating performance across different periods.

Investors and market analysts are advised to consider the forward-looking statements provided by Rave Restaurant Group with caution, recognizing the inherent risks and uncertainties that accompany such projections. While the company’s recent financial performance reflects success, future outcomes may vary due to changing economic, competitive, and market conditions.

For more information about Rave Restaurant Group, Inc. and its financial standings, readers can visit the official company website or contact Investor Relations at 469-384-5000.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rave Restaurant Group’s 8K filing here.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.