RAVE RESTAURANT GROUP, INC. Files Q4 2024 10-Q Report

TL;DR

**RAVE RESTAURANT GROUP (RAVE) FILED ITS 10-Q FOR THE QUARTER ENDED DEC 29, 2024. CHECK FINANCIALS.**

AI Summary

RAVE RESTAURANT GROUP, INC. filed its quarterly report for the period ended December 29, 2024. The company, formerly known as Pizza Inn Holdings, Inc., is incorporated in Missouri and headquartered in The Colony, Texas. This filing is a standard quarterly report under the Securities Exchange Act of 1934.

Why It Matters

This 10-Q filing provides investors with an update on Rave Restaurant Group's financial performance and operational status for the most recent quarter, offering insights into the company's health and future prospects.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not contain any immediately apparent high-risk disclosures.

Key Players & Entities

• RAVE RESTAURANT GROUP, INC. (company) — Registrant
• December 29, 2024 (date) — Quarterly period end date
• PIZZA INN HOLDINGS, INC /MO/ (company) — Former company name
• Missouri (location) — State of incorporation
• The Colony, Texas (location) — Principal executive offices location

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value RAVE Nasdaq Capital Market

Filing Documents

• ef20039026_10q.htm (10-Q) — 1209KB
• ef20039026_ex31-1.htm (EX-31.1) — 10KB
• ef20039026_ex31-2.htm (EX-31.2) — 11KB
• ef20039026_ex32-1.htm (EX-32.1) — 5KB
• ef20039026_ex32-2.htm (EX-32.2) — 5KB
• 0001140361-25-003278.txt ( ) — 4887KB
• rave-20241229.xsd (EX-101.SCH) — 30KB
• rave-20241229_def.xml (EX-101.DEF) — 144KB
• rave-20241229_lab.xml (EX-101.LAB) — 279KB
• rave-20241229_pre.xml (EX-101.PRE) — 159KB
• rave-20241229_cal.xml (EX-101.CAL) — 40KB
• ef20039026_10q_htm.xml (XML) — 738KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Page Condensed Consolidated Statements of Income (unaudited) for the three and sixmonths ended December 29, 2024 and December 24, 2023 3 Condensed Consolidated Balance Sheets at December 29, 2024 (unaudited) and June 30, 2024 4 Condensed Consolidated Statements of Shareholders' Equity (unaudited) for thethree and six months ended December 29, 2024 and December 24, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the six months ended December 29, 2024 and December 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 14

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

Quantitative and Qualitative Disclosures About Market Risk 24

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures 24

Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1. Legal Proceedings 25 Item 1A. Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 26

Signatures

Signatures 27 2 Table of Contents

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 Six Months Ended December 29, 2024 December 24, 2023 December 29, 2024 December 24, 2023 REVENUES $ 2,869 $ 2,746 $ 5,919 $ 5,833 COSTS AND EXPENSES General and administrative expenses 1,314 1,341 2,730 2,660 Franchise expenses 829 844 1,824 2,016 Provision (recovery) for credit losses 9 10 ( 8 ) 35 Interest income ( 87 ) ( 46 ) ( 169 ) ( 48 ) Depreciation and amortization expense 53 57 96 112 Total costs and expenses 2,118 2,206 4,473 4,775 INCOME BEFORE TAXES 751 540 1,446 1,058 Income tax expense (benefit) 144 ( 13 ) 313 119 NET INCOME $ 607 $ 553 $ 1,133 $ 939 INCOME PER SHARE OF COMMON STOCK Basic $ 0.04 $ 0.04 $ 0.08 $ 0.07 Diluted $ 0.04 $ 0.04 $ 0.08 $ 0.07 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic 14,690 14,444 14,638 14,299 Diluted 14,716 14,465 14,660 14,319 See accompanying Notes to Unaudited Condensed Consolidated Financial Statements. 3 Table of Contents RAVE RESTAURANT GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) (Unaudited) December 29, 2024 June 30, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 2,871 $ 2,886 Short-term investments 6,045 4,945 Accounts receivable, less allowance for credit losses of $ 42 and $ 57 , respectively 1,115 1,411 Notes receivable, current 65 68 Assets held for sale 26 33 Deferred contract charges, current 23 26 Prepaid expenses and other current assets 207 167 Total current assets 10,352 9,536 LONG-TERM ASSETS Property and equipment, net 171 182 Operating lease right-of-use assets, net 648 817 Intangible assets definite-lived, net 211 252 Notes receivable, net of current portion 56 79 Deferred tax asset, net 4,492 4,756 Deferred contract charges, net of curr

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