RAVE earnings analysis
What we found in RAVE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Rave Restaurant Group's Q3 2026 results showed steady revenue of $3M, consistent with previous quarters, with a slight decline in EPS to $0.04 from $0.05 in the prior quarter. However, total retail sales for the Pizza Inn brand increased by 7.2% year-over-year, indicating solid performance despite varying segment results. Management expressed optimism for continued growth in both the Pizza Inn and potential growth opportunities in the Pie Five segment, despite recent challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Steady Revenue Consistency
- Revenue remained at $3M for Q3 2026, unchanged from Q1 2025, reflecting consistent performance.
- Pizza Inn Retail Sales Growth
- Pizza Inn's domestic retail sales rose $1.9M, or 7.2%, year-over-year for the three months ended March 29, 2026.
- EPS Increase Year-over-Year
- EPS for Q3 2026 increased to $0.04 from $0.03 in Q3 2025, showing improved profitability.
- General Admin Expense Increase
- General and administrative expenses grew to $1.5M, up from $1.3M in Q3 2025 due to increased salaries.
- Positive EBITDA Growth
- Adjusted EBITDA for Q3 2026 showed a $0.2M increase compared to the prior fiscal year.
- Operating Income Increase
- Operating income rose to $2.3M in Q3 2026 compared to $1.99M in Q3 2025, illustrating growth.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Pie Five Performance
- Pie Five domestic retail sales fell by 24.1% in Q3 2026 compared to the prior year, leading to concerns over brand viability.
- Increased Accounts Receivable
- Accounts receivable increased, impacting cash flow; operating cash was $2.1M for the nine months vs. $2.2M a year prior.
- Increased Operating Expenses
- General and administrative expenses rose by $0.2M for Q3 2026, impacting overall profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.04
- Gross margin
- 100.0%
- Operating margin
- 24.4%
- Segment
- Pizza Inn
- Segment
- Pie Five
What they said about what is next.
Management anticipates stable revenue figures with potential increases in Pizza Inn segment performance.
The filing reads about the same as the one before it.
What came before.
- 10-Q · February 5, 2026
- Rave Restaurant Group, Inc. reported stable financial performance in its fiscal second quarter of 2026 with revenues of $3 million, matching the prior year and previous quarter. EPS decreased slightly to $0.04,…
- 10-Q · November 6, 2025
- Rave Restaurant Group, Inc. reported stable revenues of $3.2 million for Q4 2025, showing a modest increase compared to $3.1 million in the same quarter last year. The company achieved an EPS of $0.06, which is…
- 10-K · September 25, 2025
- Rave Restaurant Group, Inc. is focusing on optimizing its franchise operations primarily through its Pizza Inn and Pie Five units, seeing a modest increase in revenue driven by the Pizza Inn brand despite a significant…
- 10-Q · May 8, 2025
- Rave Restaurant Group's Q3 2025 results show stable revenue at $3 million, with a slight increase in EPS to $0.05 compared to $0.04 in Q3 2024. While the Pizza Inn franchise continues to grow, Pie Five franchise…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing RAVE makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever