DALLAS, Feb. 05, 2026 (GLOBE NEWSWIRE) -- RAVE Restaurant Group, Inc. (NASDAQ: RAVE) today reported financial results for the second quarter of fiscal 2026 ended December 28, 2025.

Second Quarter Highlights:

• The Company recorded net income of $0.6 million for the second quarter of fiscal 2026, a 4.9% increase from the same period of the prior year.
  
• Income before taxes increased by 12.1% to $0.8 million for the second quarter of fiscal 2026 compared to the same period of the prior year.
  
• Total revenue increased by $0.2 million to $3.0 million for the second quarter of fiscal 2026 compared to the same period of the prior year, a 6.0% increase.
  
• Adjusted EBITDA increased by $0.1 million to $0.9 million for the second quarter of fiscal 2026 compared to the same period of the prior year, a 5.3% increase.
  
• On a fully diluted basis, net income per share was $0.04 for the second quarter of fiscal 2026, the same as it was in the same period of the prior year.
  
• Pizza Inn domestic comparable store retail sales increased 2.5% in the second quarter of fiscal 2026 compared to the same period of the prior year.
  
• Pie Five domestic comparable store retail sales decreased 1.5% in the second quarter of fiscal 2026 compared to the same period of the prior year.
  
• Cash and short-term investments totaled $10.9 million on December 28, 2025.
  
• Pizza Inn domestic unit count finished the quarter at 97, including 82 buffet locations. There were three new buffet openings and no buffet closures during the second quarter.
  
• Pizza Inn international unit count finished the quarter at 19.
  
• Pie Five domestic unit count finished the quarter at 16.
  
  

“Quarter Two represented our 23rd consecutive quarter of profitability as we continue to execute on our Mission 2030 strategy delivering profitable growth,” said Brandon Solano, Chief Executive Officer of RAVE Restaurant Group, Inc.

“We opened three new Pizza Inn buffet restaurants in the second quarter demonstrating the commitment Rave has made in growing the Pizza Inn buffets is bearing fruit," continued Solano. “Excellent planning and execution from our Development, Training, and Operations teams allowed the three successful openings to occur over a three-week period, something that Pizza Inn hasn’t done in over 20 years, giving me confidence that we will be able to open restaurants at scale in the future."

Solano added, “While the restaurant industry on a whole faces sluggish growth and pressure on sales and traffic, Pizza Inn continues to grow both unit count and same store sales. We followed positive 8.1 percent domestic same store sales growth in the first quarter with positive 2.5 percent domestic same store sales growth in the second quarter. We are continuing to aggressively compete for every guest in the third quarter with over half of the Pizza Inn buffet restaurants running our widely successful All You Can $8 value driven promotion, that was formerly known as I $8 at Pizza Inn, in January with some restaurants signed up to continue later into the quarter.”

Chief Financial Officer Jay Rooney added, “We are pleased with the financial position Rave is in after stellar quarter two results driven by quality earnings from the sales increase at Pizza Inn. Pie Five same store sales improved from their trend but were still negative. While the impact of Pie Five on overall Rave results continues to decrease, the Rave management team is dedicated improving the brand’s performance with the introduction of new advertising, product innovation, operational efficiency, and pricing initiatives. The continued profitability of both brands has created a solid Rave balance sheet with no debt and high liquidity thus well positioning us for the future.”

Non-GAAP Financial Measures

The Company’s financial statements are prepared in accordance with United States generally accepted accounting principles (“GAAP”). However, the Company also presents and discusses certain non-GAAP financial measures that it believes are useful to investors as measures of operating performance. Management may also use such non-GAAP financial measures in evaluating the effectiveness of business strategies and for planning and budgeting purposes. However, these non-GAAP financial measures should not be viewed as an alternative or substitute for its financial statements prepared in accordance with generally accepted accounting principles.

The Company considers EBITDA and Adjusted EBITDA to be important supplemental measures of operating performance that are commonly used by securities analysts, investors and other parties interested in our industry. The Company believes that EBITDA is helpful to investors in evaluating its results of operations without the impact of expenses affected by financing methods, accounting methods and the tax environment. The Company believes that Adjusted EBITDA provides additional useful information to investors by excluding non-operational or non-recurring expenses to provide a measure of operating performance that is more comparable from period to period. Management also uses these non-GAAP financial measures for evaluating operating performance, assessing the effectiveness of business strategies, projecting future capital needs, budgeting and other planning purposes.

“EBITDA” represents earnings before interest, taxes, depreciation and amortization. “Adjusted EBITDA” represents earnings before interest, taxes, depreciation and amortization, stock compensation expense, severance, gain/loss on sale of assets, costs related to impairment and other lease charges, franchise default and closed store revenue/expense, and closed and non-operating store costs. A reconciliation of these non-GAAP financial measures to net income is included with the accompanying consolidated financial statements.

Note Regarding Forward Looking Statements

Certain statements in this press release, other than historical information, may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created thereby. These forward-looking statements are based on current expectations that involve numerous risks, uncertainties and assumptions. Assumptions relating to these forward-looking statements involve current judgments about future events and performance, including statements regarding our optimism that current positive trends will continue, our ability to continue to successfully open new restaurant locations, our belief that we are well positioned for continued profitability as well as the continued returns on our reimaging initiatives, the strength of our development pipeline, as well as future economic, competitive and market conditions, and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of RAVE Restaurant Group, Inc. Although the assumptions underlying these forward-looking statements are believed to be reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that any forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of such information should not be regarded as a representation that the objectives and plans of RAVE Restaurant Group, Inc. will be achieved.

About RAVE Restaurant Group, Inc.
Dallas-based RAVE Restaurant Group [NASDAQ: RAVE] has inspired restaurant innovation and countless customer smiles with its trailblazing pizza concepts. The Company franchises, licenses and supplies Pie Five and Pizza Inn restaurants operating domestically and internationally. The Pizza Inn experience is unlike your typical buffet. Since 1958, Pizza Inn's house-made dough, house-shredded 100% whole milk mozzarella cheese, fresh ingredients and house-made signature sauce combined with friendly service solidified the brand to become America's favorite hometown pizza place. These, in addition to its small-town vibe, are the hallmarks of Pizza Inn restaurants. In 2011, RAVE introduced Pie Five Pizza, pioneering a fast-casual pizza brand that transformed the classic pizzeria into a concept offering personalization, sophisticated ingredients and speed. Pie Five's craft pizzas are baked fresh daily and feature house-made ingredients, creative recipes and craveable crust creations. For more information, visit www.raverg.com, and follow on Instagram @pizzainn and @piefivepizza.

Contact:
Investor Relations
RAVE Restaurant Group, Inc.
469-384-5000