Rave Restaurant (RAVE) - 2026 Q1 - Quarterly Results

Financial Performance - The Company reported net income of $0.6 million for Q1 2026, a 22.6% increase year-over-year[2] - Total revenue increased by $0.1 million to $3.2 million for Q1 2026, representing a 5.3% increase compared to the prior year[2] - Adjusted EBITDA rose by $0.1 million to $0.8 million for Q1 2026, marking a 15.3% increase from the same period last year[2] - Operating income increased by 23.5% year-over-year in Q1 2026, reflecting disciplined management of corporate expenses[4] - Net income for the three months ended September 28, 2025, increased to $645 million, up from $526 million in the same period last year, representing a growth of 22.6%[18] - Adjusted EBITDA rose to $830 million, compared to $720 million in the prior year, reflecting a year-over-year increase of 15.3%[18] - EBITDA for the quarter was reported at $802 million, an increase from $656 million, marking a growth of 22.2%[18] Sales Performance - Pizza Inn domestic comparable store retail sales increased by 8.1% in Q1 2026 compared to the same period of the prior year[2] - Pie Five domestic comparable store retail sales decreased by 9.1% in Q1 2026 compared to the same period of the prior year[2] Cash and Investments - Cash and short-term investments totaled $10.6 million as of September 28, 2025[2] - Total assets increased to $17.0 million as of September 28, 2025, compared to $16.6 million at the end of the previous quarter[14] Operational Developments - The Company opened one new buffet restaurant in North Texas during Q1 2026, with plans for multiple openings in Q2[4] - The Company plans to expand the I$8 promotion at Pizza Inn to more restaurants in January 2026[4] Expenses and Taxes - Interest income increased to $(91) million from $(82) million, indicating a rise in interest expenses[18] - Income taxes for the quarter were $206 million, up from $169 million, which is an increase of 21.9%[18] - Stock-based compensation expense decreased to $38 million from $73 million, showing a reduction of 48.9%[18] - Franchisee default and closed store revenue slightly increased to $(10) million from $(9) million, indicating a marginal rise in losses from franchisee operations[18] - Depreciation and amortization expenses remained relatively stable at $42 million compared to $43 million in the previous year[18]