RAVE RAVE RESTAURANT GROUP, INC.

NEUTRAL Impact: 4/10 8-K
Horizon days Filed May 7, 2026 Processed 1mo ago SEC 0001140361-26-019448
8-K Item 2.02: Earnings release
Latest settled — T+20d ⚠ clustered
RAVE ▼ -3.44% at T+20d
NEUTRAL call ✗ call lost -3.44% · α vs SPY -6.57% · entry $2.91 → $2.81
Next anchor: T+60d in 8w
Last close $3.07 (close Jun 8) · +5.50% from $2.91 entry
Entry anchored
May 6, 03:59 PM ET
via Databento tick
T+1d
-3.78%
call -3.78% · α -4.61%
$2.80
settled 5w ago
T+5d
-7.56%
call -7.56% · α -9.06%
$2.69
settled 27d ago
T+20d
-3.44%
call -3.44% · α -6.57%
$2.81
settled 5d ago
T+60d
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call — · α —
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in 8w

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Executive Summary

RAVE Restaurant Group reported Q3 fiscal 2026 results with revenue of $3.2M (+8.7% YoY), net income of $0.8M (+10.8% YoY), and diluted EPS of $0.06 (+$0.01 YoY). Pizza Inn same-store sales grew 2.3% while Pie Five declined 11.6%, and the company ended its Uber Eats relationship due to fee increases. The results continue a steady but unspectacular growth trajectory for this micro-cap franchisor.

Key Financial Metrics

Free Cash Flow
$2.0M

Actionable Insight

RAVE continues its steady but low-growth trajectory with $12M cash and no debt. The Pie Five brand continues to shrink (14 units, -11.6% comps) while Pizza Inn drives results. The Uber Eats termination may pressure franchisee sales near-term but protects margins. With no analyst coverage and a $38M market cap, this stock is unlikely to move materially absent a catalyst like accelerated unit growth or a strategic transaction.

Key Facts

  • Q3 FY2026 revenue $3.2M, up 8.7% YoY from $3.0M
  • Net income $0.8M, up 10.8% YoY from $0.7M
  • Diluted EPS $0.06 vs $0.05 in prior year quarter
  • Adjusted EBITDA $1.1M, up 16.4% YoY from $1.0M
  • Pizza Inn domestic same-store sales +2.3%; Pie Five -11.6%
  • Cash and short-term investments $12.0M, no debt
  • Pizza Inn domestic unit count flat at 97; Pie Five down to 14 from 16
  • Ended Uber Eats delivery partnership due to fee increases
  • No guidance provided; no analyst consensus available for comparison

Financial Impact

Revenue increased $0.3M YoY to $3.2M; net income up $0.1M to $0.8M

revenuenet incomeepsadjusted ebitda

Risk Factors

  • Pie Five same-store sales declining 11.6% with unit count dropping to 14
  • Ending Uber Eats relationship may pressure franchisee top-line in near term
  • Micro-cap with no analyst coverage and low trading liquidity
  • G&A expenses growing faster than revenue (up 11.8% vs revenue +8.7%)

Market Snapshot

Exchange
Nasdaq
Sector
Wholesale-Groceries & Related Products
Analyst Consensus
0% bullish (6 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001140361-26-019448
Document: ef20072218_8k.htm0001140361-26-019448
Document: 0001140361-26-019448-index-headers.html0001140361-26-019448
Document: 0001140361-26-019448-index.html0001140361-26-019448
Document: 0001140361-26-019448.txt0001140361-26-019448
8-K Data (Synthetic)0001140361-26-019448
2 reports for RAVE
Performance horizon
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Reports for RAVE — sortable, filterable
Type Now
May 7, 2026
4w ago
8-K
NEUTRAL ★ 4/10
$2.91 $2.81▼ −3.44%▼ −6.57%$3.07 (+5.50%)
May 7, 2026
4w ago
Press Release
NEUTRAL ★ 5/10
$2.91 $2.81▼ −3.44%▼ −6.57%$3.07 (+5.50%)
Showing 2 of 2

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