RAVE RESTAURANT GROUP Files Q1 2025 10-Q

TL;DR

RAVE RESTAURANT GROUP filed their Q1 2025 10-Q, check financials for the period ending 9/29/24.

AI Summary

RAVE RESTAURANT GROUP, INC. filed its 10-Q for the period ending September 29, 2024. The filing covers the first quarter of their fiscal year. Key financial data points and balance sheet information from previous periods are also included for comparison.

Why It Matters

This 10-Q filing provides investors with an update on Rave Restaurant Group's financial performance and position at the start of their fiscal year, crucial for understanding ongoing business operations.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not contain immediate, significant negative news.

Key Numbers

• 2024-09-29 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 2024-11-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• RAVE RESTAURANT GROUP, INC. (company) — Filer of the 10-Q report
• 20240929 (date) — End of the reporting period
• 20241107 (date) — Filing date of the report
• PIZZA INN HOLDINGS, INC /MO/ (company) — Former company name
• PIZZA INN INC /MO/ (company) — Former company name
• PANTERAS CORP (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value RAVE Nasdaq Capital Marke

Filing Documents

• ef20037151_10q.htm (10-Q) — 965KB
• ef20037151_ex31-1.htm (EX-31.1) — 12KB
• ef20037151_ex31-2.htm (EX-31.2) — 12KB
• ef20037151_ex32-1.htm (EX-32.1) — 5KB
• ef20037151_ex32-2.htm (EX-32.2) — 5KB
• 0001140361-24-045542.txt ( ) — 4216KB
• rave-20240929.xsd (EX-101.SCH) — 23KB
• rave-20240929_cal.xml (EX-101.CAL) — 45KB
• rave-20240929_def.xml (EX-101.DEF) — 95KB
• rave-20240929_lab.xml (EX-101.LAB) — 351KB
• rave-20240929_pre.xml (EX-101.PRE) — 217KB
• ef20037151_10q_htm.xml (XML) — 598KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Page Condensed Consolidated Statements of Income (unaudited) for the three months ended September 29, 2024 and September 24, 2023 3 Condensed Consolidated Balance Sheets at September 29, 2024 (unaudited) and June 30, 2024 4 Condensed Consolidated Statements of Shareholders' Equity (unaudited) for the three months ended September 29, 2024 and September 24, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the three months ended September 29, 2024 and September 24, 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 22

Signatures

Signatures 23 2 Index

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements RAVE RESTAURANT GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands , except per share amounts) (Unaudited) Three Months Ended September 29 , 2024 September 24 , 2023 REVENUES $ 3,050 $ 3,087 COSTS AND EXPENSES General and administrative expenses 1,416 1,319 Franchise expenses 995 1,172 Provision (recovery) for credit losses ( 17 ) 25 Interest income ( 82 ) ( 2 ) Depreciation and amortization expense 43 55 Total costs and expenses 2,355 2,569 INCOME BEFORE TAXES 695 518 Income tax expense 169 132 NET INCOME $ 526 $ 386 INCOME PER SHARE OF COMMON STOCK Basic $ 0.04 $ 0.03 Diluted $ 0.04 $ 0.03 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic 14,587 14,154 Diluted 14,799 14,762 See accompanying Notes to Unaudited Condensed Consolidated Financial Statements. 3 Index RAVE RESTAURANT GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands , except share amounts) (Unaudited) September 29 , 2024 June 30 , 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,383 $ 2,886 Short-term investments 7,050 4,945 Accounts receivable, less allowance for credit losses of $ 40 and $ 57 , respectively 1,365 1,411 Notes receivable, current 67 68 Assets held for sale 27 33 Deferred contract charges, current 24 26 Prepaid expenses and other current assets 340 167 Total current assets 10,256 9,536 LONG-TERM ASSETS Property and equipment, net 159 182 Operating lease right-of-use assets, net 720 817 Intangible assets definite-lived, net 232 252 Notes receivable, net of current portion 70 79 Deferred tax asset, net 4,613 4,756 Deferred contract charges, net of current portion 235 197 Total assets $ 16,285 $ 15,819 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable - trade $ 443 $ 359 Accrued expenses 974

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View this 10-Q filing on SEC EDGAR