Rave Restaurant Group Reports Positive Financial Results for Second Quarter of Fiscal 2025

Rave Restaurant Group, Inc., listed on the NASDAQ under the symbol RAVE, recently disclosed its financial results for the second quarter of fiscal 2025. The report, issued on February 6, 2025, highlighted a series of achievements and financial metrics for the company.

During the second quarter ended December 29, 2024, the company reported noteworthy key points:

– The company saw a 9.8% increase in net income, amounting to $0.6 million, compared to the same period in the previous year.
– Income before taxes surged by $0.2 million to $0.7 million, representing a 39% increase.
– Total revenue rose by $0.1 million to reach $2.8 million, a 4% increase compared to the same period last year.
– Adjusted EBITDA increased by $0.3 million to $0.8 million, marking a 51% increase from the previous year.
– Net income per share for the quarter was reported at $0.04 on a fully diluted basis, matching the figure from the prior year.
– Pizza Inn domestic comparable store retail sales experienced a 0.8% increase while Pie Five domestic comparable store retail sales decreased by 11.4% during the same period.
– As of December 29, 2024, cash and cash equivalents stood at $2.9 million, with short-term investments at $6.0 million.
– Pizza Inn and Pie Five unit counts across domestic and international locations were also disclosed.

Brandon Solano, the Chief Executive Officer of Rave Restaurant Group, expressed enthusiasm for the company’s performance, noting that Quarter Two marked the 19th consecutive quarter of profitability. The company is dedicated to sustaining its growth trajectory.

Solano also highlighted Pizza Inn’s expansion plans, which included the opening of a new buffet restaurant in Oklahoma and introducing new menu items like baked pastas and the stuffed crust chocolate chip Pizzert. Furthermore, the reimage program for restaurants is progressing well, with several units undergoing renovations.

On the Pie Five front, operational improvements were emphasized, with a new operational format aimed at enhancing guest experience and increasing efficiency.

Chief Financial Officer Jay Rooney echoed Solano’s sentiments, emphasizing the strong financial performance seen in the first two quarters of the fiscal year. The financial statements were accompanied by GAAP measures as well as non-GAAP measures like EBITDA and Adjusted EBITDA, which the company believes provide valuable insights for investors assessing its operational performance.

Rave Restaurant Group’s announcement also included a note cautioning readers about forward-looking statements, acknowledging the unpredictability of various market and operational factors.

This concludes the financial report for Rave Restaurant Group for the second quarter of fiscal 2025. Investors and stakeholders can delve deeper into the company’s performance from the attached financial statements and additional disclosures provided in the filing.

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.

About Rave Restaurant Group

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.