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RAVE Restaurant Group, Inc. Reports Fourth Quarter Update and Year End Financial Results
RAVE Restaurant Group, Inc. (NASDAQ:RAVE) reported strong financial results for Q4 and fiscal year 2024. Key highlights include:
- Q4 net income of $0.9 million, up from $0.6 million in Q4 2023
- FY2024 net income of $2.5 million, up from $1.6 million in FY2023
- Q4 total revenue increased by $0.3 million to $3.4 million
- FY2024 total revenue increased by $0.3 million to $12.2 million
- Adjusted EBITDA for FY2024 increased by $0.5 million to $3.2 million
- Diluted EPS for FY2024 increased to $0.17 from $0.10 in FY2023
The company achieved its 17th consecutive quarter of profitability. Pizza Inn saw domestic comparable store sales increase 2.3% for FY2024, while Pie Five experienced a 3.7% decrease. RAVE ended the fiscal year with a strong balance sheet, including $7.8 million in cash and short-term investments and no debt.
RAVE Restaurant Group, Inc. (NASDAQ:RAVE) reported strong financial results for Q4 and fiscal year 2024. Key highlights include:
- Q4 net income of $0.9 million, up from $0.6 million in Q4 2023
- FY2024 net income of $2.5 million, up from $1.6 million in FY2023
- Q4 total revenue increased by $0.3 million to $3.4 million
- FY2024 total revenue increased by $0.3 million to $12.2 million
- Adjusted EBITDA for FY2024 increased by $0.5 million to $3.2 million
- Diluted EPS for FY2024 increased to $0.17 from $0.10 in FY2023
The company achieved its 17th consecutive quarter of profitability. Pizza Inn saw domestic comparable store sales increase 2.3% for FY2024, while Pie Five experienced a 3.7% decrease. RAVE ended the fiscal year with a strong balance sheet, including $7.8 million in cash and short-term investments and no debt.
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