Rave Restaurant (RAVE) - 2025 Q2 - Quarterly Results

Financial Performance - The company reported a net income of $0.6 million for Q2 2025, a 9.8% increase year-over-year[3] - Total revenue for Q2 2025 was $2.8 million, reflecting a 4% increase compared to the same period last year[3] - Adjusted EBITDA rose to $0.8 million in Q2 2025, marking a 51% increase from the prior year[3] - Net income for the six months ended December 29, 2024, was $1,133 million, an increase from $939 million for the same period in 2023, representing a growth of 20.7%[17] - Cash provided by operating activities for the six months ended December 29, 2024, was $1,216 million, significantly higher than $305 million for the same period in 2023[17] - Adjusted EBITDA for the six months ended December 29, 2024, reached $1,527 million, compared to $1,122 million for the same period in 2023, reflecting a growth of 36.1%[19] - The company incurred stock-based compensation expenses of $126 million for the six months ended December 29, 2024, up from $82 million in the same period of 2023[17] - The company paid $98 million in income taxes for the six months ended December 29, 2024, compared to $4 million in the same period of 2023[17] - Interest income for the six months ended December 29, 2024, was $(169) million, compared to $(48) million for the same period in 2023[19] - The company experienced a recovery of $8 million in credit losses for the six months ended December 29, 2024, compared to a provision of $35 million in the same period of 2023[17] Sales and Operations - Pizza Inn domestic comparable store retail sales increased by 0.8% in Q2 2025, while Pie Five's comparable store sales decreased by 11.4%[3] - The company has signed development agreements for 30 new Pizza Inn buffet restaurants[5] - A new stuffed crust chocolate chip Pizzert was successfully introduced during Q2 2025[5] - The company plans to introduce three varieties of baked pastas in Q3 2025 as part of its menu innovation strategy[5] Cash and Investments - Cash and cash equivalents stood at $2.9 million, with short-term investments totaling $6.0 million as of December 29, 2024[3] - Cash and cash equivalents at the end of the period were $2,871 million, a slight decrease from $5,306 million at the end of the previous period[17] - The company reported a net decrease in cash and cash equivalents of $15 million for the six months ended December 29, 2024[17] - Total cash used in investing activities for the six months ended December 29, 2024, was $1,049 million, compared to $16 million in the same period of 2023[17] Balance Sheet - The balance sheet remains strong, with current assets totaling seven times the amount of current liabilities[5] - Profit before tax for the fiscal year to date is up over 36% compared to the previous year[5]