Rave Restaurant - RAVE STOCK NEWS

RAVE Restaurant Group, Inc. (NASDAQ:RAVE) reported strong financial results for Q4 and fiscal year 2024. Key highlights include:

- Q4 net income of $0.9 million, up from $0.6 million in Q4 2023
- FY2024 net income of $2.5 million, up from $1.6 million in FY2023
- Q4 total revenue increased by $0.3 million to $3.4 million
- FY2024 total revenue increased by $0.3 million to $12.2 million
- Adjusted EBITDA for FY2024 increased by $0.5 million to $3.2 million
- Diluted EPS for FY2024 increased to $0.17 from $0.10 in FY2023

The company achieved its 17th consecutive quarter of profitability. Pizza Inn saw domestic comparable store sales increase 2.3% for FY2024, while Pie Five experienced a 3.7% decrease. RAVE ended the fiscal year with a strong balance sheet, including $7.8 million in cash and short-term investments and no debt.

Pizza Inn has announced a new multi-store Master Franchise Agreement with Al Ruwad Hospitality Services & Restaurants Management Group in Egypt. This partnership will bring seven new Pizza Inn locations to Egypt, with the first store set to open in Cairo during Q4 2024. The expansion marks a significant milestone in Pizza Inn's international growth strategy.

The agreement outlines plans to open two additional locations each year for the next three years across various Egyptian cities. These restaurants will offer Pizza Inn's signature menu, including pizzas, pasta dishes, wings, and Pizzerts®. This collaboration aims to establish Pizza Inn as a household name in Egypt, leveraging the brand's 65-year legacy as America's Hometown Pizza Buffet.

Rave Restaurant Group, Inc. reported strong financial results for the third quarter of fiscal 2024, with net income increasing to $0.7 million and total revenue remaining stable at $3.0 million. Adjusted EBITDA also saw an increase to $0.8 million. However, Pizza Inn and Pie Five experienced a decrease in comparable store sales. Cash and cash equivalents stood at $6.3 million, with Pizza Inn and Pie Five domestic unit counts finishing at 104 and 23, respectively. The company's CEO highlighted the restructuring of the executive team and the positive performance in same-store sales over the past few years. The CFO expressed optimism about expense management and growth strategies.

RAVE Restaurant Group (NASDAQ:RAVE) appoints new leaders to enhance the company's growth and development. The strategic reshaping of the executive team signals a focus on expanding Pizza Inn and Pie Five Pizza brands. Jay Rooney joins as CFO, bringing financial expertise. RAVE reports strong growth with 15 consecutive profitable quarters and outperforming competitors in 2023.

RAVE Restaurant Group, Inc. reported financial results for Q2 of fiscal 2024. Net income increased to $0.6 million, and income before taxes rose by 10.7% to $0.5 million. Total revenue decreased slightly to $2.8 million. Adjusted EBITDA remained stable at $0.6 million. Pizza Inn and Pie Five saw increases in domestic comparable store retail sales. Net income per share increased by $0.02 to $0.04. Cash and cash equivalents were $5.3 million. The CEO highlighted strong financial performance and strategic initiatives, including store reimaging and organizational strengthening.

RAVE Restaurant Group, Inc. reported financial results for Q1 fiscal 2024. Total revenue increased by $0.1 million to $3.1 million compared to the same period last year. Adjusted EBITDA increased by $0.1 million to $0.6 million. Pizza Inn domestic comparable store retail sales increased by 6.8% and Pie Five domestic comparable store retail sales increased by 1.2%. Net income was $0.4 million compared to $0.3 million in the same period last year. Cash and cash equivalents were $5.9 million. Pizza Inn domestic unit count finished at 111, Pizza Inn international unit count finished at 22, and Pie Five domestic unit count finished at 26.

RAVE Restaurant Group reports Q4 and FY 2023 financial results. Total revenue increased by $0.2M in Q4 and $1.2M in FY 2023. Pizza Inn domestic comparable store retail sales increased 9.0% in Q4 and 11.3% in FY 2023. Pie Five domestic comparable store retail sales decreased 0.6% in Q4 and increased 5.4% in FY 2023. Net income decreased by $6.4M in FY 2023. Cash and cash equivalents were $5.3M on June 25, 2023. The company repurchased $5.0M worth of common stock in FY 2023.

RAVE Restaurant Group, owner and franchisor of Pizza Inn and Pie Five restaurants, has announced positive net unit growth of Pizza Inn buffets for the second consecutive year. This growth is indicative of Pizza Inn's transition from a turnaround company to one poised for further expansion. The company has also experienced profitability for twelve consecutive quarters and has received a positive response to its new store image.