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Rave Restaurant Group (RAVE) earnings and revenue breakdown

Latest: Q4 FY26 · 10-K filed Sep 24, 2026 · Rave Restaurant Group (RAVE) Q4 FY26 earnings results →

Q4 FY26 Revenue up 9% year over year to $3.4M · 23¢ of every $1 of revenue kept as net profit · operating margin 29.8%

Rave Restaurant Group made $3.4M in Q4 FY26 (+9% Y/Y): Supplier and Distributor Incentive Revenues $1.6M, Franchise Royalties $1.2M, Advertising Funds $563K. Operating margin 29.8%, net earnings $796K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Sep 24, 2026.

Revenue$3.4M
Year over year+9%
Operating margin29.8%
Net earnings$796K
Operating cash flow$1.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $3.4M in Q4 FY26, up 9% year over year and up 6% from the previous quarter. Supplier and Distributor Incentive Revenues was the largest line at 48% of revenue.

Operating profit was $1.0M, a 29.8% margin (down 5.7 points year over year). Operating profit fell $96K even though revenue rose $278K versus Q4 FY25, so costs grew faster than sales. Total costs grew 18% against revenue growth of 9%. The fastest-growing cost line was General & admin (+29%). Net earnings were $796K, down 6% year over year. The effective tax rate was 29.9%.

Operating cash flow was $1.5M (up 26% year over year), 189% of net earnings. Non-cash charges added back $41K of depreciation and amortization and $87K of share-based compensation. Working capital and other items added $578K.

Quarterly history

Rave Restaurant Group revenue by quarterRave Restaurant Group revenue by quarter$2.9MQ2 FY25$3.0MQ3 FY25$3.2MQ4 FY25$3.2MQ1 FY26$3.0MQ2 FY26$3.2MQ3 FY26$3.4MQ4 FY26
Rave Restaurant Group net earnings by quarterRave Restaurant Group net earnings by quarter$607KQ2 FY25$722KQ3 FY25$847KQ4 FY25$645KQ1 FY26$637KQ2 FY26$800KQ3 FY26$796KQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2610-KSep 24, 2026$3.4M+9%29.8%$796K$1.5M
Q3 FY2610-QMay 7, 2026$3.2M+9%29.7%$800K$1.1M
Q2 FY2610-QFeb 5, 2026$3.0M+6%24.4%$637K$306K
Q1 FY2610-QNov 6, 2025$3.2M+5%23.4%$645K$608K
Q4 FY2510-KSep 25, 2025$3.2M-6%35.5%$847K$1.2M
Q3 FY2510-QMay 8, 2025$3.0M+0.1%28.8%$722K$961K
Q2 FY2510-QFeb 6, 2025$2.9M+4%23.1%$607K$711K

Charts

Rave Restaurant Group: revenue growth, year over year and quarter over quarterRave Restaurant Group: revenue growth, year over year and quarter over quarterY/YQ/Q+4%Q2 FY25+0%+3%Q3 FY25-6%+6%Q4 FY25+5%+2%Q1 FY26+6%-5%Q2 FY26+9%+6%Q3 FY26+9%+6%Q4 FY26
Latest (Q4 FY26): Y/Y +9%, Q/Q +6%.
Rave Restaurant Group: where the cash came from (+) and went (−), FY26Rave Restaurant Group: where the cash came from (+) and went (−), FY26Other investing−$5.2MOperating cash flow$3.6MCash drawn (+) / kept (−)$1.7MCapital spending−$49KAsset & business sales$9K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Rave Restaurant Group: profit against cash, quarter by quarterRave Restaurant Group: profit against cash, quarter by quarterNet incomeOperating cash flow$526K$530KQ1 FY25$607K$711KQ2 FY25$722K$961KQ3 FY25$847K$1.2MQ4 FY25$645K$608KQ1 FY26$637K$306KQ2 FY26$800K$1.1MQ3 FY26$796K$1.5MQ4 FY26
Latest (Q4 FY26): Net income $796K, Operating cash flow $1.5M.
Rave Restaurant Group: diluted shares by fiscal yearRave Restaurant Group: diluted shares by fiscal year18MFY2118MFY2216MFY2315MFY2415MFY2514MFY26
-21.0% since FY21: buybacks shrank the count.
Rave Restaurant Group in its industry: growth against margin (5 companies, SIC 5140)Rave Restaurant Group in its industry: growth against margin (5 companies, SIC 5140)revenue growth, year over year →↑ operating marginmedian +3%median 4%SYYUSFDDPZHFFGRAVE (+9%, 30%)
Wholesale-Groceries & Related Products; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Rave Restaurant Group

Dallas-based RAVE Restaurant Group [NASDAQ: RAVE] has inspired restaurant innovation and countless customer smiles with its trailblazing pizza concepts. The Company franchises, licenses and supplies Pie Five and Pizza Inn restaurants operating domestically and internationally. The Pizza Inn experience is unlike your typical buffet. Since 1958, Pizza Inn's house-made dough, house-shredded 100% whole milk mozzarella cheese, fresh ingredients and house-made signature sauce combined with friendly service solidified the brand to become America's favorite hometown pizza place. These, in addition to its small-town vibe, are the hallmarks of Pizza Inn restaurants. In 2011, RAVE introduced Pie Five Pizza, pioneering a fast-casual pizza brand that transformed the classic pizzeria into a concept offering personalization, sophisticated ingredients and speed.

In its own words, from its 8-K, filed Sep 24, 2026.

Rave Restaurant Group against its Wholesale-Groceries & Related Products peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +9% against the peers' median +3%. Operating margin: 29.8% against the peers' median 3.6%.

CompanyQuarterRevenueY/YOp. margin
RAVE Rave Restaurant GroupQ4 FY26$3.4M+9%29.8%
SYY SyscoQ1 FY27$21.7B+3%3.3%
USFD US Foods HoldingQ3 2026$10.4B+2%3.6%
DPZ Dominos PizzaQ3 2026$1.2B+3%20.4%
HFFG HF Foods GroupQ2 2026$324M+3%0.9%

Source: Rave Restaurant Group 10-K on SEC EDGAR · CIK 718332 · Wholesale-Groceries & Related Products

13F: who owns RAVE and who is buying

Largest holders of RAVE (13F)Largest holders of RAVE (13F)Saber Capital Managment, LLC$2.3MVanguard Group$916KRenaissance Technologies LLC$877KVanguard Capital Management LLC$792KCorsair Capital Management, L.P.$475KGeode Capital Management, LLC$426KTrue North Advisors, LLC$245KBlackRock$233KVanguard Fiduciary Trust$211KCitadel Advisors LLC$171K
Funds' net buying of RAVE by quarter (13F)Funds' net buying of RAVE by quarter (13F)−$69K2024-09−$46K2024-12−$391K2025-03$184K2025-06−$17K2025-09$1.1M2025-12−$76K2026-03$2.4M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RAVE

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

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