Rave Restaurant Group, Inc. (NASDAQ: RAVE) reported financial results for the fiscal year ended June 28, 2026, in an 8-K filing dated September 24, 2026. The company recorded net income of $2.9 million for fiscal 2026, a $0.2 million increase compared to the $2.7 million reported in fiscal 2025. On a per-share basis, net income was $0.20 for fiscal 2026, matching the $0.19 reported in the prior year.
Total revenue for fiscal 2026 increased to $12.9 million, up from $12.0 million in fiscal 2025. Income before taxes rose to $3.9 million in fiscal 2026, compared to $3.6 million in the prior year. The company reported operating income of $3.5 million for fiscal 2026, which management noted represents a nearly 17% compound annual growth rate over the past five years.
Regarding comparable store sales, RAVE’s total domestic comparable store retail sales increased 1.3% for the year ended June 28, 2026. Pizza Inn domestic comparable store retail sales increased 2.4%, marking the fifth consecutive year of growth for the buffet restaurant chain. Conversely, Pie Five domestic comparable store retail sales decreased 9.9% for the same period.
The company finished fiscal 2026 with a domestic unit count of 104, consisting of 91 Pizza Inn locations and 13 Pie Five locations. International unit counts were reported at 18 for Pizza Inn. On the balance sheet, cash and cash equivalents totaled $1.1 million as of June 28, 2026, with short-term investments of $12.5 million. Cash and short-term investments combined totaled $13.6 million, a $3.7 million increase from the prior year.
Adjusted EBITDA for fiscal 2026 was reported at $3.9 million, an increase of $0.3 million from the prior year. In the fourth quarter of fiscal 2026, the company recorded net income of $0.8 million, a 6.2% decrease from the same period in fiscal 2025. Total revenue for the fourth quarter was $3.4 million, an 8.8% increase from the prior year.
The filing also noted recent events regarding the company’s leadership. On August 31, 2026, Chief Executive Officer Brandon Solano sent an email to the Audit Committee Chairman regarding workplace harassment and discrimination claims. The company engaged the Hagan Law Group to conduct an investigation into these allegations.
