Rave Restaurant (RAVE) - 2025 Q3 - Quarterly Results

Financial Performance - The company reported net income of $0.7 million for Q3 2025, a 10.4% increase year-over-year[2]. - Total revenue remained flat at $3.0 million for Q3 2025 compared to the same period last year[2]. - Adjusted EBITDA increased by $0.1 million to $1.0 million, reflecting a 13.2% year-over-year growth[2]. - Net income for the nine months ended March 30, 2025, increased to $1,855 million, up from $1,593 million for the same period in 2024, representing a growth of 16.4%[16]. - Adjusted EBITDA for the nine months ended March 30, 2025, reached $2,480 million, compared to $1,964 million for the same period in 2024, reflecting a 26.2% increase[18]. - Cash provided by operating activities for the nine months ended March 30, 2025, was $2,168 million, significantly higher than $1,331 million for the same period in 2024, marking a 63.0% increase[16]. Sales Performance - Pizza Inn domestic comparable store retail sales rose by 2.5%, while Pie Five's comparable store sales decreased by 5.6% in Q3 2025[2]. - The average sales lift for reimaged stores was 7.6%, with an average return on investment of 56%[4]. - The new $8 promotion at Pizza Inn led to over 20% year-over-year sales increases in tested locations[4]. - Nineteen Pizza Inn and three Pie Five restaurants achieved their highest sales weeks since at least 2018[4]. Shareholder Actions - The company repurchased 500,000 shares of common stock for $1.2 million during the quarter[2]. - Stock-based compensation expense increased to $178 million for the nine months ended March 30, 2025, compared to $127 million in the same period of 2024, a rise of 40.2%[16]. Cash Flow and Investments - Cash and cash equivalents were reported at $0.7 million, while short-term investments totaled $8.0 million as of March 30, 2025[2]. - Cash used in investing activities totaled $2,933 million for the nine months ended March 30, 2025, compared to only $30 million in the same period of 2024[16]. - The company reported a net decrease in cash and cash equivalents of $2,152 million, down from an increase of $990 million in the prior year[16]. - The cash and cash equivalents at the end of the period were $734 million, down from $6,318 million at the end of the previous year[16]. Tax and Deferred Income - The company paid $98 million in income taxes for the nine months ended March 30, 2025, compared to $4 million in the same period of 2024[16]. - Deferred income tax increased to $459 million for the nine months ended March 30, 2025, compared to $247 million in the same period of 2024, indicating a rise of 85.4%[16]. Profitability - The company has completed 20 consecutive quarters of profitability[3].