Rave Restaurant Group Posts 8.7% Q3 Revenue Growth to $3.2M, EBITDA Up 16.4%
RAVE•Rave Restaurant Group reported third-quarter fiscal 2026 net income of $0.8 million, up 10.8% year-over-year, on revenue of $3.2 million, up 8.7%, and adjusted EBITDA of $1.1 million, up 16.4%. Pizza Inn same-store sales rose 2.3% despite weather headwinds, while cash and short-term investments stood at $12 million.
1. Third Quarter Financial Highlights
Rave Restaurant Group generated net income of $0.8 million for Q3 fiscal 2026, a 10.8% increase year-over-year, and income before taxes of $1.1 million, up 11.1%. Total revenue reached $3.2 million, up 8.7%, while adjusted EBITDA rose 16.4% to $1.1 million and diluted EPS increased to $0.06 from $0.05.
2. Same-Store Sales Performance
Pizza Inn domestic comparable store retail sales grew 2.3% versus the prior-year quarter despite an estimated 3.3% negative impact from January weather headwinds, whereas Pie Five same-store sales fell 11.6% over the same period.
3. Cash Position and Unit Counts
As of March 29, 2026, the company held $12.0 million in cash and short-term investments. Pizza Inn operated 97 domestic units (82 buffets) and 18 international units, while Pie Five had 14 domestic locations.
4. Growth and Strategic Initiatives
The company opened four new Pizza Inn restaurants this fiscal year and has 13 more under contract, including five under construction. Menu innovations and the decision to end the Uber Eats partnership aim to protect franchisee margins and support future expansion.
