RAVE on Nasdaq

RAVE RESTAURANT GROUP, INC.

RAVE RESTAURANT GROUP, INC. is an American wholesale-groceries and related products company.1 It is headquartered in The Colony, Texas.1

Price unavailable

Last updated Oct 21, 2026.

Overview

$12.9MRevenue, fiscal 20262
$2.9MNet income, fiscal 20262

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  • TickerRAVE on Nasdaq1
  • IndustryWholesale-Groceries & Related Products1
  • HeadquartersThe Colony, Texas1
  • Incorporated inMO3
  • Business address3551 Plano Parkway, The Colony, Tx 750563
  • Filer categoryNon-accelerated filer, Smaller reporting company3

As of June 28, 2026, we had 109 franchised Pizza Inn restaurants, 13 franchised Pie Five Units, and zero licensed PIE Units. The 91 domestic franchised Pizza Inn restaurants were comprised of 80 Buffet Units, four Delco Units, seven Express Units and zero Pizza Inn Ghost Kitchen Units. As of June 28, 2026, there were 18 international franchised Pizza Inn restaurants. Domestic Pizza Inn restaurants were located predominantly in the southern half of the United States, with North Carolina, Texas, Arkansas and South Carolina accounting for approximately 21%, 18%, 11% and 10%, respectively, of the total number of domestic units.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

26.9%Operating margin2
22.3%Net margin2
7.2%Revenue growth, 20262
16.6%Return on equity2
$3.5MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Other costs70¢$9.0M
  • Income tax8¢$1.0M
  • Profit22¢$2.9M

Out of $12.9M in revenue.2

Where each dollar of operating cash went, fiscal 2026

  • Capital spending1¢$49.0K
  • Kept or used elsewhere99¢$3.5M

Out of $3.6M of cash from operations.2

Financial statements

Revenue567892$12.9M in 2026+5% since 2019
0$5.0M$10.0M$15.0M2019: $12.3M$12.3M20192020: $10.0M$10.0M2020−19%2021: $8.6M$8.6M2021−14%2022: $10.7M$10.7M2022+24%2023: $11.9M$11.9M2023+11%2024: $12.2M$12.2M2024+2%2025: $12.0M$12.0M2025−1%2026: $12.9M$12.9M2026+7%
Operating income2$3.5M in 2026+19% since 2024
0$1.0M$2.0M$3.0M$4.0M2024: $2.9M$2.9M20242025: $3.2M$3.2M2025+11%2026: $3.5M$3.5M2026+7%
Net income567892$2.9M in 2026
-$5.0M0$5.0M$10.0M2019: -$750.0K-$750.0K20192020: -$4.2M-$4.2M2020+464%2021: $1.5M$1.5M20212022: $8.0M$8.0M2022+428%2023: $1.6M$1.6M2023−80%2024: $2.5M$2.5M2024+53%2025: $2.7M$2.7M2025+9%2026: $2.9M$2.9M2026+7%
Fiscal year20192020202120222023202420252026
Revenue$12.3M5$10.0M6$8.6M7$10.7M8$11.9M9$12.2M2$12.0M2$12.9M2
Cost of revenue$1.1M5$439.0K6$264.0K7$1.0K8$08
Operating expenses$9.0M8$9.7M9$9.2M2$8.8M2$9.4M2
Operating income$2.9M2$3.2M2$3.5M2
Interest$104.0K5$95.0K6$92.0K7$61.0K8$1.0K8
Income before tax$2.4M8$2.1M9$3.1M2$3.6M2$3.9M2
Income tax-$51.0K5$4.1M6-$29.0K7-$5.7M8$537.0K9$619.0K2$918.0K2$1.0M2
Net income-$750.0K5-$4.2M6$1.5M7$8.0M8$1.6M9$2.5M2$2.7M2$2.9M2
Earnings per share-$0.055-$0.286$0.097$0.458$0.119$0.172$0.192$0.202
Earnings per share (diluted)-$0.055-$0.286$0.097$0.458$0.109$0.172$0.192$0.202
Shares (weighted, basic)18.0M shares815.3M shares914.4M shares214.5M shares214.2M shares2
Shares (weighted, diluted)18.0M shares815.9M shares914.6M shares214.6M shares214.3M shares2

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Corporate structure

RAVE RESTAURANT GROUP, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of RAVE RESTAURANT GROUP, INC.

  • IMA value LLP Filed SCHEDULE 13D/A on RAVE RESTAURANT GROUP, INC., latest May 15, 2026 (6 filings since Oct 30, 2023)
  • Brian Timothy Bares Filed SCHEDULE 13G/A on RAVE RESTAURANT GROUP, INC., latest Dec 30, 2025 (2 filings since Sep 15, 2025)
  • Mark E. Schwarz Filed SC 13D/A on RAVE RESTAURANT GROUP, INC., latest Nov 3, 2023
  • RAVE RESTAURANT GROUP, INC. The Colony, Texas

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What RAVE RESTAURANT GROUP, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.7M2 Jun 28, 2026$1.7M2 Jun 29, 2025+2.9%
Accumulated depreciation$1.6M2 Jun 28, 2026$1.6M2 Jun 29, 2025+5.4%
Property and equipment, net$101.0K2 Jun 28, 2026$137.0K2 Jun 29, 2025−26.3%
Operating-lease assets (leased space)$177.0K2 Jun 28, 2026$489.0K2 Jun 29, 2025−63.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.1M2 Jun 28, 2026$2.9M2 Jun 29, 2025−60.7%
Marketable securities, current$12.5M2 Jun 28, 2026$7.0M2 Jun 29, 2025+77.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$707.0K2 Jun 28, 2026$707.0K2 Jun 29, 20250%
Accumulated amortization$607.0K2 Jun 28, 2026$525.0K2 Jun 29, 2025+15.6%
Finite-lived intangibles, net$100.0K2 Jun 28, 2026$182.0K2 Jun 29, 2025−45.1%

Properties, in its own words

PROPERTIES.

The Company leases its 19,576 square foot corporate office facility with average annual lease payments of approximately $18.00 per square foot. This lease began on January 2, 2017 and has a ten-year term. The Company amended its lease agreement in June 2020 and elected to defer one-half of the monthly base rent for the period from June 2020 through May 2021. The Company is planning on relocating its corporate headquarters in January of 2027 within the Dallas market and is in the process of negotiating a new lease agreement.

Item 2 of the 10-K filed Sep 24, 2026.4

Leadership

Who has led RAVE RESTAURANT GROUP, INC., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (19)

Former names

  • PIZZA INN HOLDINGS, INC /MO/Sep 30, 2011 to Nov 21, 20143
  • PIZZA INN INC /MO/Dec 4, 1995 to Sep 23, 20113

Timeline

  1. Sep 24, 20268-K Results of operations50
  2. May 7, 20268-K Results of operations51
  3. Feb 17, 20268-K Change of auditor52
  4. Feb 5, 20268-K Results of operations53
  5. Dec 12, 20258-K Shareholder vote54
  6. Nov 6, 20258-K Results of operations55
  7. Sep 25, 20258-K Results of operations56
  8. May 8, 20258-K Results of operations57
  9. Feb 6, 20258-K Results of operations58
  10. Dec 13, 20248-K Shareholder vote59
  11. Nov 7, 20248-K Results of operations60
  12. Sep 26, 20248-K Results of operations61
  13. Oct 21, 2019New chief executive Brandon Solano becomes CEO15
  14. Jan 13, 2017New chief executive Scott Crane becomes CEO16
  15. Nov 13, 2012New chief executive Randall E. Gier becomes CEO18
  16. Jun 27, 2012New chief executive Clinton J. Coleman becomes CEO17
  17. Dec 21, 2007New chief executive Charles R. Morrison becomes CEO19
  18. Jan 3, 2006New chief executive Tim Taft becomes CEO20

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/202662

When it reported results

  1. Sep 24, 2026Reported quarterly or annual results50
  2. May 7, 2026Reported quarterly or annual results51
  3. Feb 5, 2026Reported quarterly or annual results53
  4. Nov 6, 2025Reported quarterly or annual results55
  5. Sep 25, 2025Reported quarterly or annual results56
  6. May 8, 2025Reported quarterly or annual results57
  7. Feb 6, 2025Reported quarterly or annual results58
  8. Nov 7, 2024Reported quarterly or annual results60

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

113 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 36 major events, 34 insider forms, 9 large holders, 13 other. The latest 20:

  1. Sep 24, 20268-K EDGAR
  2. Sep 24, 202610-K EDGAR
  3. May 15, 2026SCHEDULE 13D/A EDGAR
  4. May 7, 20268-K EDGAR
  5. May 7, 202610-Q EDGAR
  6. Feb 17, 20268-K CURRENT REPORT EDGAR
  7. Feb 5, 20268-K EDGAR
  8. Feb 5, 202610-Q EDGAR
  9. Dec 30, 2025SCHEDULE 13G/A EDGAR
  10. Dec 12, 20258-K EDGAR
  11. Nov 6, 202510-K/A ANNUAL REPORT PURSUANT TO SECTION 13 AND 15(D) EDGAR
  12. Nov 6, 20258-K EDGAR
  13. Nov 6, 202510-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) EDGAR
  14. Oct 22, 2025ARS EDGAR
  15. Oct 22, 2025DEFA14A EDGAR
  16. Oct 22, 2025DEF 14A EDGAR
  17. Oct 22, 20254 EDGAR
  18. Oct 22, 20254 EDGAR
  19. Sep 25, 20258-K EDGAR
  20. Sep 25, 202510-K EDGAR

The 113 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

25 open-market trades by officers, directors and large owners since October 2021: 21 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 12, 2024Solano BrandonChief Executive OfficerBuy5,600$1.74$9.7KForm 4
Mar 11, 2024Solano BrandonChief Executive OfficerBuy5,776$1.71$9.9KForm 4
Jan 29, 2024IMA value LLPBuy51,921$1.96$101.8KForm 4
Jan 22, 2024IMA value LLPBuy46,241$1.98$91.6KForm 4
Dec 21, 2022AMERICAN HALLMARK INSURANCE Co OF TEXASSale252,428$1.60$403.9KForm 4
Dec 21, 2022Hallmark Specialty Insurance CoSale252,428$1.60$403.9KForm 4
Dec 21, 2022AMERICAN HALLMARK INSURANCE Co OF TEXASSale252,428$1.60$403.9KForm 4
Dec 21, 2022HALLMARK FINANCIAL SERVICES INCSale1,741,230$1.60$2.8MForm 4
Nov 9, 2022Solano BrandonChief Executive OfficerBuy24,650$1.57$38.7KForm 4
Jun 8, 2022Schwarz 2012 Family Trust10% ownerBuy12,252$0.98$12.0KForm 4
May 31, 2022NEWCASTLE PARTNERS L P10% ownerBuy1,179$0.89$1.0KForm 4
May 26, 2022SCHWARZ MARK EChairmanBuy10,986$0.88$9.7KForm 4
May 25, 2022SCHWARZ MARK EChairmanBuy3,000$0.87$2.6KForm 4
May 24, 2022SCHWARZ MARK EChairmanBuy990$0.87$861Form 4
May 23, 2022NCM SERVICES, INC.10% ownerBuy14,126$0.87$12.3KForm 4
May 20, 2022NCM SERVICES, INC.10% ownerBuy10,452$0.88$9.2KForm 4
May 19, 2022NCM SERVICES, INC.10% ownerBuy11,266$0.89$10.0KForm 4
May 18, 2022NEWCASTLE CAPITAL GROUP LLC10% ownerBuy9,843$0.90$8.9KForm 4
May 17, 2022NEWCASTLE CAPITAL GROUP LLC10% ownerBuy7,600$0.90$6.8KForm 4
May 16, 2022NEWCASTLE CAPITAL GROUP LLC10% ownerBuy18,777$0.88$16.5KForm 4

All 25 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Brandon L. SolanoChief Executive Officer & President55$350.0K$780.3K66
2025Jay RooneyChief Financial Officer54$229.7K$307.0K66
2024Brandon L. SolanoChief Executive Officer & President55$350.0K$843.1K66
2024Jay RooneyChief Financial Officer54$51.9K$70.8K66

SEC filer profile

How RAVE RESTAURANT GROUP, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARRAVE RESTAURANT GROUP, INC.1
  • CIK0000718332
  • Employer ID (EIN)45-31892874
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inMissouri4
  • Fiscal year endsJune 281
  • Industry code (SIC)5140 Wholesale-Groceries & Related Products1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address3551 Plano Parkway, The Colony, TX 750561
  • Phone469-384-50001
  • Shares outstanding14,211,566 shares as of Sep 17, 20264
  • Public float$33.5M as of Dec 26, 20254
  • AuditorWhitley Penn LLP, Plano, Texas PCAOB ID 726; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceDec 4, 19951
  • Filings923 in all: 4 (270), 8-K (247), 10-Q (92), SC 13D/A (38), DEF 14A (33), 10-K (31), 3 (30), 5 (25)1
    All 43 form types

    4/A (15), UPLOAD (14), CORRESP (12), 10-K/A (9), ARS (8), DEFA14A (8), 11-K (7), 8-K/A (6), EFFECT (6), S-3 (6), SC 13G/A (6), 424B5 (5), 10-Q/A (4), PRE 14A (4), S-3/A (4), S-8 (4), S-8 POS (4), SC 13D (4), SC 13G (4), 424B2 (3), AW (3), POS AM (3), PREC14A (3), PRRN14A (3), SCHEDULE 13D/A (2), 10-C (1), 144 (1), 3/A (1), DEFC14A (1), DEFR14A (1), DFAN14A (1), NT 10-K (1), PRER14A (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Sep 24, 2026
    Quarterly report (10-Q) May 7, 2026
    Proxy statement (DEF 14A) Oct 22, 2025
    Latest 8-K (8-K) Sep 24, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par valueRAVENasdaq

From the cover page of the 10-K filed Sep 24, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

Legal proceedings

LEGAL PROCEEDINGS.

On August 31, 2026, the Company’s Chief Executive Officer, Mr. Brandon Solano, delivered email correspondence (the “Solano Correspondence”) to the Chairman of the Company’s Audit Committee, Mr. William C. Hammett, Jr. to “formally complain about workplace harassment and discrimination by RAVE Restaurant Group’s Board of Directors, the Compensation Committee members, and Chairman Mark Schwarz.” The Solano Correspondence claimed harassment, intimidation, and threats, resulting in the Company’s failure to increase Mr. Solano’s annual base salary.

The Solano Correspondence included a request for the Company to conduct “an investigation by an outside investigator to address these concerns” (an “Independent Investigation”). Solano also claimed that he had “filed a complaint with the Civil Rights Division of the Texas Workforce Commission due to the discrimination I have endured from RAVE’s board” (the “Texas Workforce Claim”). The Company engaged the Hagan Law Group on September 1, 2026, to conduct the Investigation. As of the date of this report, we have not received any notification, written or otherwise, from the Texas Workforce Commission regarding the Texas Workforce Claim, so we are unable to assess Mr. Solano’s claims at this time on anything other than the Solano Correspondence and the advice we have received from the Hagan Law Group.

Many of the claims set forth in the Solano Correspondence relate to Mr. Solano’s assertion the Company has denied him salary increases enjoyed by other RAVE employees and Executive Team members based on his race and national origin (the “Discriminatory Compensation Claims”). In the context of the Discriminatory Compensation Claims asserted by Mr. Solano, we believe it material to provide the following facts regarding Mr. Solano’s compensation history.

The opening of Item 3, Legal Proceedings.4

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