RAVE continues its steady but low-growth trajectory with $12M cash and no debt. The Pie Five brand continues to shrink (14 units, -11.6% comps) while Pizza Inn drives results. The Uber Eats termination may pressure franchisee sales near-term but protects margins. With no analyst coverage and a $38M market cap, this stock is unlikely to move materially absent a catalyst like accelerated unit growth or a strategic transaction.
Price Chart
Executive Summary
RAVE Restaurant Group reported Q3 fiscal 2026 results with revenue of $3.2M (+8.7% YoY), net income of $0.8M (+10.8% YoY), and diluted EPS of $0.06 (+$0.01 YoY). Pizza Inn same-store sales grew 2.3% while Pie Five declined 11.6%, and the company ended its Uber Eats relationship due to fee increases. The results continue a steady but unspectacular growth trajectory for this micro-cap franchisor.
Key Financial Metrics
Key Facts
- Q3 FY2026 revenue $3.2M, up 8.7% YoY from $3.0M
- Net income $0.8M, up 10.8% YoY from $0.7M
- Diluted EPS $0.06 vs $0.05 in prior year quarter
- Adjusted EBITDA $1.1M, up 16.4% YoY from $1.0M
- Pizza Inn domestic same-store sales +2.3%; Pie Five -11.6%
- Cash and short-term investments $12.0M, no debt
- Pizza Inn domestic unit count flat at 97; Pie Five down to 14 from 16
- Ended Uber Eats delivery partnership due to fee increases
- No guidance provided; no analyst consensus available for comparison
Financial Impact
Revenue increased $0.3M YoY to $3.2M; net income up $0.1M to $0.8M
Risk Factors
- Pie Five same-store sales declining 11.6% with unit count dropping to 14
- Ending Uber Eats relationship may pressure franchisee top-line in near term
- Micro-cap with no analyst coverage and low trading liquidity
- G&A expenses growing faster than revenue (up 11.8% vs revenue +8.7%)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-019448 |
| Document: ef20072218_8k.htm | 0001140361-26-019448 |
| Document: 0001140361-26-019448-index-headers.html | 0001140361-26-019448 |
| Document: 0001140361-26-019448-index.html | 0001140361-26-019448 |
| Document: 0001140361-26-019448.txt | 0001140361-26-019448 |
| 8-K Data (Synthetic) | 0001140361-26-019448 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | DEFA14A | $2.20 | awaiting T+20 | — | $2.16 (−1.82%) |
Oct 23, 2026 4d ago | DEF 14A | $2.20 | awaiting T+20 | — | $2.16 (−1.82%) |
Sep 24, 2026 4w ago | 8-K | $2.29 $2.20 | ▼ −3.93% | ▼ −3.51% | $2.16 (−5.68%) |
Sep 24, 2026 4w ago | Press Release | $2.29 $2.20 | ▼ −3.93% | ▼ −3.51% | $2.16 (−5.68%) |
May 7, 2026 24w ago | 8-K | $2.91 $2.81 | ▼ −3.44% | ▼ −6.57% | $2.16 (−25.77%) |
May 7, 2026 24w ago | Press Release | $2.91 $2.81 | ▼ −3.44% | ▼ −6.57% | $2.16 (−25.77%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers