RAVE Restaurant (RAVE) 10-Q7 Nov 242025 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 29, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2024
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	0-12919
Entity Registrant Name	RAVE RESTAURANT GROUP, INC.
Entity Central Index Key	0000718332
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	45-3189287
Entity Address, Address Line One	3551 Plano Parkway
Entity Address, City or Town	The Colony
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75056
City Area Code	469
Local Phone Number	384-5000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	RAVE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,711,566

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
CONDENSED CONSOLIDATED STATEMENTS OF INCOME [Abstract]
REVENUES	$ 3,050	$ 3,087
COSTS AND EXPENSES
General and administrative expenses	1,416	1,319
Franchise expenses	995	1,172
Provision (recovery) for credit losses	(17)	25
Interest income	(82)	(2)
Depreciation and amortization expense	43	55
Total costs and expenses	2,355	2,569
INCOME BEFORE TAXES	695	518
Income tax expense	169	132
NET INCOME	$ 526	$ 386
INCOME PER SHARE OF COMMON STOCK
Basic (in dollars per share)	$ 0.04	$ 0.03
Diluted (in dollars per share)	$ 0.04	$ 0.03
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	14,587	14,154
Diluted (in shares)	14,799	14,762

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024
CURRENT ASSETS
Cash and cash equivalents	$ 1,383	$ 2,886
Short-term investments	7,050	4,945
Accounts receivable, less allowance for credit losses of $40 and $57, respectively	1,365	1,411
Notes receivable, current	67	68
Assets held for sale	27	33
Deferred contract charges, current	24	26
Prepaid expenses and other current assets	340	167
Total current assets	10,256	9,536
LONG-TERM ASSETS
Property and equipment, net	159	182
Operating lease right-of-use assets, net	720	817
Intangible assets definite-lived, net	232	252
Notes receivable, net of current portion	70	79
Deferred tax asset, net	4,613	4,756
Deferred contract charges, net of current portion	235	197
Total assets	16,285	15,819
CURRENT LIABILITIES
Accounts payable - trade	443	359
Accrued expenses	974	915
Operating lease liabilities, current	383	402
Deferred revenues, current	198	343
Total current liabilities	1,998	2,019
LONG-TERM LIABILITIES
Operating lease liabilities, net of current portion	465	555
Deferred revenues, net of current portion	521	543
Total liabilities	2,984	3,117
COMMITMENTS AND CONTINGENCIES (SEE NOTE C)
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value; authorized 26,000,000 shares; issued 25,522,171 and 25,522,171 shares, respectively; outstanding 14,586,566 and 14,586,566 shares, respectively	255	255
Additional paid-in capital	37,636	37,563
Retained earnings	5,438	4,912
Treasury stock, at cost Shares in treasury: 10,935,605 and 10,935,605 respectively	(30,028)	(30,028)
Total shareholders' equity	13,301	12,702
Total liabilities and shareholders' equity	$ 16,285	$ 15,819

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024
CURRENT ASSETS
Accounts receivable, allowance for credit losses	$ 40	$ 57
SHAREHOLDERS' EQUITY
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	26,000,000	26,000,000
Common stock, shares issued (in shares)	25,522,171	25,522,171
Common stock, shares outstanding (in shares)	14,586,566	14,586,566
Treasury stock at cost (in shares)	10,935,605	10,935,605

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Beginning balance at Jun. 25, 2023	$ 251	$ 37,729	$ 2,439	$ (30,028)	$ 10,391
Beginning balance (in shares) at Jun. 25, 2023	25,090,000
Treasury stock (in shares) at Jun. 25, 2023				(10,936,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	79	0	$ 0	79
Net income	0	0	386	0	386
Ending balance at Sep. 24, 2023	$ 251	37,808	2,825	$ (30,028)	10,856
Ending balance (in shares) at Sep. 24, 2023	25,090,000
Treasury stock (in shares) at Sep. 24, 2023				(10,936,000)
Beginning balance at Jun. 30, 2024	$ 255	37,563	4,912	$ (30,028)	$ 12,702
Beginning balance (in shares) at Jun. 30, 2024	25,522,000				25,522,171
Treasury stock (in shares) at Jun. 30, 2024				(10,936,000)	(10,935,605)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	73	0	$ 0	$ 73
Net income	0	0	526	0	526
Ending balance at Sep. 29, 2024	$ 255	$ 37,636	$ 5,438	$ (30,028)	$ 13,301
Ending balance (in shares) at Sep. 29, 2024	25,522,000				25,522,171
Treasury stock (in shares) at Sep. 29, 2024				(10,936,000)	(10,935,605)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 526	$ 386
Adjustments to reconcile net income to cash provided by operating activities:
Amortization of discount on short-term investment	(66)	0
Stock-based compensation expense	73	79
Depreciation and amortization	23	34
Amortization of operating right-of-use assets	97	112
Amortization of definite-lived intangible assets	20	21
Non-cash lease expense	9	0
Provision (recovery) for credit losses	(17)	25
Deferred income tax	143	108
Changes in operating assets and liabilities:
Accounts receivable	63	48
Notes receivable	0	(48)
Deferred contract charges	(36)	20
Prepaid expenses and other current assets	(173)	(184)
Accounts payable - trade	84	81
Accrued expenses	59	281
Operating lease liabilities	(118)	(127)
Deferred revenues	(167)	(208)
Cash provided by operating activities	520	628
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short-term investments	(5,039)	0
Maturities of short-term investments	3,000	0
Payments received on notes receivable	10	15
Proceeds from sale of assets	6	0
Purchase of definite-lived intangible assets	0	(5)
Purchase of property and equipment	0	(22)
Cash used in investing activities	(2,023)	(12)
Net (decrease)/increase in cash and cash equivalents	(1,503)	616
Cash and cash equivalents, beginning of period	2,886	5,328
Cash and cash equivalents, end of period	1,383	5,944
CASH PAID FOR:
Income taxes (net of refunds)	$ 50	$ 5

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Sep. 29, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note A - Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of Rave Restaurant Group, Inc. and its subsidiaries, all of which are wholly owned. All appropriate inter-company balances and transactions have been eliminated. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Short-Term Investments The Company holds short-term investments in treasury bills, classified as trading securities. Accordingly, interest income is recorded through the Condensed Consolidated Statements of Income, when earned. Management has elected to classify all treasury bills as short-term, regardless of their maturity dates, as these are readily available to fund current operations and can be liquidated at any time at the discretion of the Company. As of September 29, 2024 and June 30, 2024, the Company held treasury bills valued at $7.1 million and $4.9 million, respectively, which are included within short-term investments on the accompanying Condensed Consolidated Balance Sheets. For the three months ended September 29, 2024 and September 24, 2023, interest income recognized on the treasury bills was $76 thousand and $2 thousand, respectively. Fair Value Measurements Assets and liabilities carried at fair value are categorized based on the level of judgment associated with the inputs used to measure their fair value. Authoritative guidance for fair value measurements establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into the following three levels: Level 1: Inputs are unadjusted quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2: Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date for the duration of the instrument’s anticipated life. Level 3: Inputs are unobservable and therefore reflect management’s best estimate of the assumptions that market participants would use in pricing the asset or liability. The fair value of the Company’s investments in U.S. Treasury bills at September 29, 2024 and September 24, 2023, was determined using level 1 observable inputs. Management believes the carrying amounts of other financial instruments at September 29, 2024 and September 24, 2023, including cash, accounts receivable, accounts payable, and accrued expenses are representative of their fair values due to their short-term maturities. The following table summarizes the Company’s financial assets and financial liabilities measured at fair value at September 29, 2024: Fair Value Measurements Level 1 Level 2 Level 3 Total U.S. Treasury bills $ 7,050,421 $ — $ — $ 7,050,421 $ 7,050,421 $ — $ — $ 7,050,421 The Company did not have any financial assts or liabilities at September 24, 2023 that were measured at fair value. The Company has no financial assets or liabilities classified within Level 3 of the valuation hierarchy. These items are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy. Accounts Receivable and Allowance for Credit Losses Accounts receivable consist primarily of receivables generated from franchise royalties and supplier concessions. The Company records an allowance for credit losses to allow for any amounts that may be unrecoverable based upon an analysis of the Company’s prior collection experience, customer creditworthiness and current economic trends. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Finance charges may be accrued at a rate of 18% per year, or up to the maximum amount allowed by law, on past due receivables. The interest income recorded from finance charges is immaterial. The Company monitors franchisee receivable balances and adjusts credit terms when necessary to minimize the Company’s exposure to high-risk accounts receivable. For the three month period ended September 29, 2024, recoveries for credit losses was $17 thousand compared to provision for credit losses of $25 thousand for the same period in the prior fiscal year. During the three month period ended September 29, 2024, the Company recorded a gain in provision for credit losses due to the recoveries of receivables that had been previously reserved. Changes in the allowance for credit losses from continuing operations consisted of the following (in thousands): September 29, 2024 September 24, 2023 Beginning balance $ 57 $ 58 Provision (recovery) for credit losses (17 ) 25 Amounts written off — (72 ) Ending balance $ 40 $ 11 Fiscal Quarters The three month periods ended September 29, 2024 and September 24, 2023 each contained 13 weeks. Use of Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities. The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances. Estimates and assumptions are reviewed periodically. Actual results could differ materially from estimates. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU” or “standard”) 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures (Topic 280), which requires companies to enhance disclosure of significant reportable segment expenses. The new guidance is effective for the Company after December 15, 2024. Management believes that adopting this standard will not have a material impact on the Company’s consolidated financial statements and related disclosures as a result of adopting this standard. In December 2023, FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures (Topic 740), which requires companies to provide a more granular breakdown of the components that make up their effective tax rate and additional disclosures about the nature and effect of significant reconciling items. The new guidance is effective for the Company after December 15, 2024. Management believes that adopting this standard will not have a material impact on the Company’s consolidated financial statements and related disclosures as a result of adopting this standard. Revenue Recognition Revenue is measured based on consideration specified in contracts with customers and excludes incentives and amounts collected on behalf of third parties, primarily sales tax. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. The following describes principal activities, separated by major product or service, from which the Company generates its revenues: Franchise Revenues Franchise revenues consist of 1) franchise royalties, 2) supplier and distributor incentive revenues, 3) franchise license fees, 4) area development exclusivity fees and foreign master license fees, 5) advertising fund contributions, and 6) supplier convention funds. Franchise royalties, which are based on a percentage of net retail sales, are recognized as sales occur. Supplier and distributor incentive revenues are recognized when title to the underlying commodities transfer. Franchise license fees are typically billed upon execution of the franchise agreement and amortized over the term of the franchise agreement, which typically range from five Area development exclusivity fees and foreign master license fees are typically billed upon execution of the area development and foreign master license agreements. Area development exclusivity fees are included in deferred revenue in the accompanying Condensed Consolidated Balance Sheets and allocated on a pro rata basis to all stores opened under that specific development agreement as the stores are opened. Area development exclusivity fees that include rights to sub-franchise are amortized as revenue over the term of the contract. Advertising fund contributions for Pizza Inn and Pie Five units represent contributions collected where we have control over the activities of the fund. Contributions are based on a percentage of net retail sales. We have determined that we are the principal in these arrangements, and advertising fund contributions and expenditures are, therefore, reported on a gross basis in the Condensed Consolidated Statements of Income. In general, we expect such advertising fund contributions and expenditures to be largely offsetting and, therefore, do not expect a significant impact on our reported income before income taxes. Our obligation related to these funds is to develop and conduct advertising activities. Pizza Inn and Pie Five marketing fund contributions are billed and collected weekly or monthly. Supplier convention funds are deferred until the obligations of the agreement are met and the event takes place. Rental Income The Company subleases some of its restaurant space to a third-party. The Company’s sublease has terms that end in 2025. The sublease agreement is non-cancelable through the end of the term and both parties have substantive rights to terminate the lease when the term is complete. Sublease agreements are not capitalized and are recorded as rental income in the period that rent is received. Total revenues consist of the following (in thousands): Three Months Ended September 29, 2024 September 24, 2023 Franchise royalties $ 1,121 $ 1,225 Supplier and distributor incentive revenues 1,192 1,100 Franchise license fees 28 101 Area development exclusivity fees and foreign master license fees 3 4 Advertising fund contributions 464 422 Supplier convention funds 217 187 Rental income 23 46 Other 2 2 $ 3,050 $ 3,087 Stock-Based Compensation The Company accounts for stock options using the fair value recognition provisions of the authoritative guidance on stock-based payments. The Company uses the Black-Scholes formula to estimate the value of stock-based compensation for options granted to employees and directors and expects to continue to use this acceptable option valuation model in the future. The authoritative guidance also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow. Restricted stock units (“RSUs”) represent the right to receive shares of common stock upon the satisfaction of vesting requirements, performance criteria and other terms and conditions. Compensation cost for RSUs is measured as an amount equal to the fair value of the RSUs on the date of grant and is expensed over the vesting period if achievement of the performance criteria is deemed probable, with the amount of the expense recognized based on the best estimate of the ultimate achievement level.

Leases

Leases	3 Months Ended
Leases	Sep. 29, 2024
Leases [Abstract]
Leases	Note B - Leases The Company determines if an arrangement is a lease at inception of the arrangement. To the extent that it can be determined that an arrangement represents a lease, it is classified as either an operating lease or a finance lease. The Company does not currently have any finance leases. The Company capitalizes operating leases on the Condensed Consolidated Balance Sheets through a right-of-use asset and a corresponding lease liability. Right-of-use Operating lease right-of-use right-of-use Nature of Leases The Company leases certain office space, restaurant space, and information technology equipment under non-cancelable leases to support its operations. A more detailed description of significant lease types is included below. Office Agreements The Company rents office space from third parties for its corporate location. Office agreements are typically structured with non-cancelable terms of one Restaurant Space Agreements The Company subleases some of its restaurant space to a third-party. The Company’s sublease has terms that end in 2025. The sublease agreement is non-cancelable Information Technology Equipment The Company rents information technology equipment, primarily printers and copiers, from a third-party for its corporate office location. Information technology equipment agreements are typically structured with non-cancelable terms of one Discount Rate Leases typically do not provide an implicit interest rate. Accordingly, the Company is required to use its incremental borrowing rate in determining the present value of lease payments based on the information available at the lease commencement date. The Company’s incremental borrowing rate reflects the estimated rate of interest that it would pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment. The Company uses the implicit rate in the limited circumstances in which that rate is readily determinable. Lease Guarantees The Company has guaranteed the financial responsibilities of certain franchised store leases. These guaranteed leases are not considered operating leases because the Company does not have the right to control the underlying asset. If the franchisee abandons the lease and fails to meet the lease’s financial obligations, the lessor may assign the lease to the Company for the remainder of the term. If the Company does not expect to assign the abandoned lease to a new franchisee within 12 months, the lease will be considered an operating lease and a right-of-use asset, and lease liability will be recognized. Practical Expedients and Accounting Policy Elections Certain lease agreements include lease and non-lease components. For all existing asset classes with multiple component types, the Company has utilized the practical expedient that exempts it from separating lease components from non-lease components. Accordingly, the Company accounts for the lease and non-lease components in an arrangement as a single lease component. In addition, for all existing asset classes, the Company has made an accounting policy election not to apply the lease recognition requirements to short-term leases (that is, a lease that, at commencement, have a lease term of 12 months or less and does not include an option to purchase the underlying asset that the Company is reasonably certain to exercise). Accordingly, we recognize lease payments related to our short-term leases in our income statements on a straight-line basis over the lease term which has not changed from our prior recognition. To the extent that there are variable lease payments, we recognize those payments in our income statements in the period in which the obligation for those payments is incurred. The components of total lease expense for the three months ended September 29, 2024 and September 24, 2023, where operating lease cost is included and sublease income is included in revenues ): Three Months Ended Three Months Ended September 29, 2024 September 24 Operating lease cost $ 104 $ 123 Sublease income (23 ) (47 ) Total lease expense, net of sublease income $ 81 $ 76 Weighted average remaining lease term and weighted average discount rate for operating leases are as follows: September 29, 2024 September 24 Weighted average remaining lease term 1.6 Years 1.8 Years Weighted average discount rate 4.0 % 4.0 % Operating lease liabilities with enforceable contract terms that are greater than one year mature as follows (in thousands): Operating Leases 2025 $ 314 2026 382 2027 191 Total operating lease payments $ 887 Less: imputed interest (39 ) Total operating lease liability $ 848

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Sep. 29, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note C - Commitments and Contingencies The Company is subject to various claims and contingencies related to employment agreements, franchise disputes, lawsuits, taxes, food product purchase contracts and other matters arising out of the normal course of business. Management believes that any such claims and actions currently pending are either covered by insurance or would not have a material adverse effect on the Company’s results of operations or financial condition if decided in a manner that is unfavorable to the Company.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Sep. 29, 2024
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note D - Stock-Based Compensation Stock Options: For the three months ended September 29, 2024 and September 24, 2023, the Company recognized stock-based compensation expense related to stock options of zero. As of September 29, 2024, there was no unamortized stock-based compensation expense related to stock options. The following table summarizes the number of shares of the Company’s common stock subject to outstanding stock options: Three months ended September 29, 2024 September 24, 2023 Shares Shares Outstanding at beginning of year 114,286 151,750 Granted — — Exercised — — Forfeited/Canceled/Expired — (8,664 ) Outstanding at end of period 114,286 143,086 Exercisable at end of period 114,286 143,086 Restricted Stock Units: For the three months ended September 29, 2024 and September 24, 2023, the Company had stock-based compensation expense related to RSUs of $73 thousand and $79 thousand, respectively. As of September 29, 2024, there was $191 thousand unamortized stock-based compensation expense related to RSUs. As of September 29, 2024 and September 24, 2023, the RSUs will be amortized during the next 25 and one months, respectively. A summary of the status of RSUs as of September 29, 2024, and changes during the three months then ended is presented below: Three September 29, 2024 September 24, 2023 Shares Shares Unvested at beginning of year 269,063 885,687 Performance adjustment 30,771 (25,223 ) Granted — — Issued — — Forfeited — — Unvested at September 29, 2024 299,834 860,464

Earnings per Share (EPS)

Earnings per Share (EPS)	3 Months Ended
Earnings per Share (EPS)	Sep. 29, 2024
Earnings per Share (EPS) [Abstract]
Earnings per Share (EPS)	Note E - Earnings per Share (EPS) The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts): Three Months Ended September 29, 2024 September 24, 2023 Net income available to common shareholders $ 526 $ 386 BASIC: Weighted average common shares 14,587 14,154 Net income per common share $ 0.04 $ 0.03 DILUTED: Weighted average common shares 14,587 14,154 Dilutive stock options and restricted stock units 212 608 Weighted average common shares outstanding 14,799 14,762 Net income per common share $ 0.04 $ 0.03 For the three months ended September 29, 2024, exercisable options to purchase 71,886 shares of common stock at exercise prices from $3.95 to $13.11 were excluded from the computation of diluted EPS because they had an intrinsic value of zero. For the three months ended September 29, 2024, 105,000 RSUs were excluded from the computation of diluted EPS because performance criteria is not probable at period end. For the three months ended September 24, 2023, exercisable options to purchase 103,086 shares of common stock at exercise prices from $3.95 to $13.11 were excluded from the computation of diluted EPS because they had an intrinsic value of zero. For the three months ended September 24, 2023, 90,625 RSUs were excluded from the computation of diluted EPS because performance criteria is not probable at period end.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Sep. 29, 2024
Income Taxes [Abstract]
Income Taxes	Note F - Income Taxes Total income tax expense consists of the following (in thousands): Three months ended September 29, 2024 September 24, 2023 Federal tax expense $ 143 $ 108 State tax expense 26 24 Total income tax expense $ 169 $ 132

Segment Reporting

Segment Reporting	3 Months Ended
Segment Reporting	Sep. 29, 2024
Segment Reporting [Abstract]
Segment Reporting	Note G - Segment Reporting The Company has three reportable operating segments as determined by management using the “management approach” as defined by ASC 280 Disclosures about Segments of an Enterprise and Related Information: and (3) Corporate administration and other The Pizza Inn and Pie Five Franchising segments establish franchisees, licensees and territorial rights. Revenue for these segments are derived from franchise royalties, franchise fees, sale of area development and foreign master license rights and incentive payments from third-party suppliers and distributors. Assets for these segments include equipment, furniture and fixtures. Corporate administration and other assets primarily include cash and short-term investments, as well as furniture and fixtures located at the corporate office and trademarks and other intangible assets. All assets are located within the United States. Summarized in the following tables are net operating revenues, depreciation and amortization expense, and income before taxes for the Company’s reportable segments as of the three months ended September 29, 2024 and September 24, 2023 (in thousands) : Three Months Ended September 29, 2024 September 24, 2023 Net sales and operating revenues: Pizza Inn Franchising $ 2,720 $ 2,604 Pie Five Franchising 307 436 Corporate administration and other 23 47 Consolidated revenues $ 3,050 $ 3,087 Depreciation and amortization: Corporate administration and other $ 43 $ 55 Depreciation and amortization $ 43 $ 55 Income before taxes: Pizza Inn Franchising $ 1,831 $ 1,661 Pie Five Franchising 201 209 Combined 2,032 1,870 Corporate administration and other (1,337 ) (1,352 ) Income before taxes $ 695 $ 518 Geographic information (revenues): United States $ 2,987 $ 3,034 Foreign countries 63 53 Consolidated revenues $ 3,050 $ 3,087

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 29, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 29, 2024
Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Rave Restaurant Group, Inc. and its subsidiaries, all of which are wholly owned. All appropriate inter-company balances and transactions have been eliminated.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Short-Term Investments	Short-Term Investments The Company holds short-term investments in treasury bills, classified as trading securities. Accordingly, interest income is recorded through the Condensed Consolidated Statements of Income, when earned. Management has elected to classify all treasury bills as short-term, regardless of their maturity dates, as these are readily available to fund current operations and can be liquidated at any time at the discretion of the Company. As of September 29, 2024 and June 30, 2024, the Company held treasury bills valued at $7.1 million and $4.9 million, respectively, which are included within short-term investments on the accompanying Condensed Consolidated Balance Sheets. For the three months ended September 29, 2024 and September 24, 2023, interest income recognized on the treasury bills was $76 thousand and $2 thousand, respectively.
Fair Value Measurements	Fair Value Measurements Assets and liabilities carried at fair value are categorized based on the level of judgment associated with the inputs used to measure their fair value. Authoritative guidance for fair value measurements establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into the following three levels: Level 1: Inputs are unadjusted quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2: Inputs (other than quoted prices included in Level 1) that are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date for the duration of the instrument’s anticipated life. Level 3: Inputs are unobservable and therefore reflect management’s best estimate of the assumptions that market participants would use in pricing the asset or liability. The fair value of the Company’s investments in U.S. Treasury bills at September 29, 2024 and September 24, 2023, was determined using level 1 observable inputs. Management believes the carrying amounts of other financial instruments at September 29, 2024 and September 24, 2023, including cash, accounts receivable, accounts payable, and accrued expenses are representative of their fair values due to their short-term maturities. The following table summarizes the Company’s financial assets and financial liabilities measured at fair value at September 29, 2024: Fair Value Measurements Level 1 Level 2 Level 3 Total U.S. Treasury bills $ 7,050,421 $ — $ — $ 7,050,421 $ 7,050,421 $ — $ — $ 7,050,421 The Company did not have any financial assts or liabilities at September 24, 2023 that were measured at fair value. The Company has no financial assets or liabilities classified within Level 3 of the valuation hierarchy. These items are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Accounts receivable consist primarily of receivables generated from franchise royalties and supplier concessions. The Company records an allowance for credit losses to allow for any amounts that may be unrecoverable based upon an analysis of the Company’s prior collection experience, customer creditworthiness and current economic trends. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Finance charges may be accrued at a rate of 18% per year, or up to the maximum amount allowed by law, on past due receivables. The interest income recorded from finance charges is immaterial. The Company monitors franchisee receivable balances and adjusts credit terms when necessary to minimize the Company’s exposure to high-risk accounts receivable. For the three month period ended September 29, 2024, recoveries for credit losses was $17 thousand compared to provision for credit losses of $25 thousand for the same period in the prior fiscal year. During the three month period ended September 29, 2024, the Company recorded a gain in provision for credit losses due to the recoveries of receivables that had been previously reserved. Changes in the allowance for credit losses from continuing operations consisted of the following (in thousands): September 29, 2024 September 24, 2023 Beginning balance $ 57 $ 58 Provision (recovery) for credit losses (17 ) 25 Amounts written off — (72 ) Ending balance $ 40 $ 11
Fiscal Quarters	Fiscal Quarters The three month periods ended September 29, 2024 and September 24, 2023 each contained 13 weeks.
Use of Management Estimates	Use of Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities. The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances. Estimates and assumptions are reviewed periodically. Actual results could differ materially from estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU” or “standard”) 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures (Topic 280), which requires companies to enhance disclosure of significant reportable segment expenses. The new guidance is effective for the Company after December 15, 2024. Management believes that adopting this standard will not have a material impact on the Company’s consolidated financial statements and related disclosures as a result of adopting this standard. In December 2023, FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures (Topic 740), which requires companies to provide a more granular breakdown of the components that make up their effective tax rate and additional disclosures about the nature and effect of significant reconciling items. The new guidance is effective for the Company after December 15, 2024. Management believes that adopting this standard will not have a material impact on the Company’s consolidated financial statements and related disclosures as a result of adopting this standard.
Revenue Recognition	Revenue Recognition Revenue is measured based on consideration specified in contracts with customers and excludes incentives and amounts collected on behalf of third parties, primarily sales tax. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. The following describes principal activities, separated by major product or service, from which the Company generates its revenues: Franchise Revenues Franchise revenues consist of 1) franchise royalties, 2) supplier and distributor incentive revenues, 3) franchise license fees, 4) area development exclusivity fees and foreign master license fees, 5) advertising fund contributions, and 6) supplier convention funds. Franchise royalties, which are based on a percentage of net retail sales, are recognized as sales occur. Supplier and distributor incentive revenues are recognized when title to the underlying commodities transfer. Franchise license fees are typically billed upon execution of the franchise agreement and amortized over the term of the franchise agreement, which typically range from five Area development exclusivity fees and foreign master license fees are typically billed upon execution of the area development and foreign master license agreements. Area development exclusivity fees are included in deferred revenue in the accompanying Condensed Consolidated Balance Sheets and allocated on a pro rata basis to all stores opened under that specific development agreement as the stores are opened. Area development exclusivity fees that include rights to sub-franchise are amortized as revenue over the term of the contract. Advertising fund contributions for Pizza Inn and Pie Five units represent contributions collected where we have control over the activities of the fund. Contributions are based on a percentage of net retail sales. We have determined that we are the principal in these arrangements, and advertising fund contributions and expenditures are, therefore, reported on a gross basis in the Condensed Consolidated Statements of Income. In general, we expect such advertising fund contributions and expenditures to be largely offsetting and, therefore, do not expect a significant impact on our reported income before income taxes. Our obligation related to these funds is to develop and conduct advertising activities. Pizza Inn and Pie Five marketing fund contributions are billed and collected weekly or monthly. Supplier convention funds are deferred until the obligations of the agreement are met and the event takes place. Rental Income The Company subleases some of its restaurant space to a third-party. The Company’s sublease has terms that end in 2025. The sublease agreement is non-cancelable through the end of the term and both parties have substantive rights to terminate the lease when the term is complete. Sublease agreements are not capitalized and are recorded as rental income in the period that rent is received. Total revenues consist of the following (in thousands): Three Months Ended September 29, 2024 September 24, 2023 Franchise royalties $ 1,121 $ 1,225 Supplier and distributor incentive revenues 1,192 1,100 Franchise license fees 28 101 Area development exclusivity fees and foreign master license fees 3 4 Advertising fund contributions 464 422 Supplier convention funds 217 187 Rental income 23 46 Other 2 2 $ 3,050 $ 3,087
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock options using the fair value recognition provisions of the authoritative guidance on stock-based payments. The Company uses the Black-Scholes formula to estimate the value of stock-based compensation for options granted to employees and directors and expects to continue to use this acceptable option valuation model in the future. The authoritative guidance also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow. Restricted stock units (“RSUs”) represent the right to receive shares of common stock upon the satisfaction of vesting requirements, performance criteria and other terms and conditions. Compensation cost for RSUs is measured as an amount equal to the fair value of the RSUs on the date of grant and is expensed over the vesting period if achievement of the performance criteria is deemed probable, with the amount of the expense recognized based on the best estimate of the ultimate achievement level.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 29, 2024
Summary of Significant Accounting Policies [Abstract]
Financial Assets and Financial Liabilities Measured at Fair Value	The following table summarizes the Company’s financial assets and financial liabilities measured at fair value at September 29, 2024: Fair Value Measurements Level 1 Level 2 Level 3 Total U.S. Treasury bills $ 7,050,421 $ — $ — $ 7,050,421 $ 7,050,421 $ — $ — $ 7,050,421
Allowance for Credit Losses	Changes in the allowance for credit losses from continuing operations consisted of the following (in thousands): September 29, 2024 September 24, 2023 Beginning balance $ 57 $ 58 Provision (recovery) for credit losses (17 ) 25 Amounts written off — (72 ) Ending balance $ 40 $ 11
Total Revenues	Total revenues consist of the following (in thousands): Three Months Ended September 29, 2024 September 24, 2023 Franchise royalties $ 1,121 $ 1,225 Supplier and distributor incentive revenues 1,192 1,100 Franchise license fees 28 101 Area development exclusivity fees and foreign master license fees 3 4 Advertising fund contributions 464 422 Supplier convention funds 217 187 Rental income 23 46 Other 2 2 $ 3,050 $ 3,087

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Sep. 29, 2024
Leases [Abstract]
Components of Total Lease Expense	The components of total lease expense for the three months ended September 29, 2024 and September 24, 2023, where operating lease cost is included and sublease income is included in revenues ): Three Months Ended Three Months Ended September 29, 2024 September 24 Operating lease cost $ 104 $ 123 Sublease income (23 ) (47 ) Total lease expense, net of sublease income $ 81 $ 76
Weighted Average Remaining Lease Term and Weighted Average Discount Rate	Weighted average remaining lease term and weighted average discount rate for operating leases are as follows: September 29, 2024 September 24 Weighted average remaining lease term 1.6 Years 1.8 Years Weighted average discount rate 4.0 % 4.0 %
Maturities of Operating Lease Liabilities	Operating lease liabilities with enforceable contract terms that are greater than one year mature as follows (in thousands): Operating Leases 2025 $ 314 2026 382 2027 191 Total operating lease payments $ 887 Less: imputed interest (39 ) Total operating lease liability $ 848

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Sep. 29, 2024
Stock-Based Compensation [Abstract]
Outstanding Stock Options	The following table summarizes the number of shares of the Company’s common stock subject to outstanding stock options: Three months ended September 29, 2024 September 24, 2023 Shares Shares Outstanding at beginning of year 114,286 151,750 Granted — — Exercised — — Forfeited/Canceled/Expired — (8,664 ) Outstanding at end of period 114,286 143,086 Exercisable at end of period 114,286 143,086
Summary of Restricted Stock Units	As of September 29, 2024 and September 24, 2023, the RSUs will be amortized during the next 25 and one months, respectively. A summary of the status of RSUs as of September 29, 2024, and changes during the three months then ended is presented below: Three September 29, 2024 September 24, 2023 Shares Shares Unvested at beginning of year 269,063 885,687 Performance adjustment 30,771 (25,223 ) Granted — — Issued — — Forfeited — — Unvested at September 29, 2024 299,834 860,464

Earnings per Share (EPS) (Table

Earnings per Share (EPS) (Tables)	3 Months Ended
Earnings per Share (EPS) (Tables)	Sep. 29, 2024
Earnings per Share (EPS) [Abstract]
Earnings per Share Basic and Diluted	The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts): Three Months Ended September 29, 2024 September 24, 2023 Net income available to common shareholders $ 526 $ 386 BASIC: Weighted average common shares 14,587 14,154 Net income per common share $ 0.04 $ 0.03 DILUTED: Weighted average common shares 14,587 14,154 Dilutive stock options and restricted stock units 212 608 Weighted average common shares outstanding 14,799 14,762 Net income per common share $ 0.04 $ 0.03

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Sep. 29, 2024
Income Taxes [Abstract]
Provision for Income Taxes	Total income tax expense consists of the following (in thousands): Three months ended September 29, 2024 September 24, 2023 Federal tax expense $ 143 $ 108 State tax expense 26 24 Total income tax expense $ 169 $ 132

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Sep. 29, 2024
Segment Reporting [Abstract]
Segment Reporting Information	Summarized in the following tables are net operating revenues, depreciation and amortization expense, and income before taxes for the Company’s reportable segments as of the three months ended September 29, 2024 and September 24, 2023 (in thousands) : Three Months Ended September 29, 2024 September 24, 2023 Net sales and operating revenues: Pizza Inn Franchising $ 2,720 $ 2,604 Pie Five Franchising 307 436 Corporate administration and other 23 47 Consolidated revenues $ 3,050 $ 3,087 Depreciation and amortization: Corporate administration and other $ 43 $ 55 Depreciation and amortization $ 43 $ 55 Income before taxes: Pizza Inn Franchising $ 1,831 $ 1,661 Pie Five Franchising 201 209 Combined 2,032 1,870 Corporate administration and other (1,337 ) (1,352 ) Income before taxes $ 695 $ 518 Geographic information (revenues): United States $ 2,987 $ 3,034 Foreign countries 63 53 Consolidated revenues $ 3,050 $ 3,087

Summary of Significant Accoun_4

Summary of Significant Accounting Policies, Short Term Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023	Jun. 30, 2024
Short-Term Investments [Abstract]
Short term investments	$ 7,050		$ 4,945
Interest income	82	$ 2
Treasury Bills [Member]
Short-Term Investments [Abstract]
Short term investments	7,100		$ 4,900
Interest income	$ 76	$ 2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies, Fair Value Measurements (Details) - USD ($)	Sep. 29, 2024	Sep. 24, 2023
Fair Value Measurements [Abstract]
Fair value measurements assets	$ 7,050,421	$ 0
Fair value measurements liabilities		0
US Treasury Bills [Member]
Fair Value Measurements [Abstract]
Fair value measurements assets	7,050,421
Level 1 [Member]
Fair Value Measurements [Abstract]
Fair value measurements assets	7,050,421
Level 1 [Member] \| US Treasury Bills [Member]
Fair Value Measurements [Abstract]
Fair value measurements assets	7,050,421
Level 2 [Member]
Fair Value Measurements [Abstract]
Fair value measurements assets	0
Level 2 [Member] \| US Treasury Bills [Member]
Fair Value Measurements [Abstract]
Fair value measurements assets	0
Level 3 [Member]
Fair Value Measurements [Abstract]
Fair value measurements assets	0	0
Fair value measurements liabilities		$ 0
Level 3 [Member] \| US Treasury Bills [Member]
Fair Value Measurements [Abstract]
Fair value measurements assets	$ 0

Summary of Significant Accoun_6

Summary of Significant Accounting Policies, Accounts Receivable and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Summary of Significant Accounting Policies [Abstract]
Finance charges rate	18%
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 57	$ 58
Provision (recovery) for credit losses	(17)	25
Amounts written off	0	(72)
Ending balance	$ 40	$ 11

Summary of Significant Accoun_7

Summary of Significant Accounting Policies, Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Revenues [Abstract]
Revenues	$ 3,050	$ 3,087
Minimum [Member]
Franchise Revenues [Abstract]
Amortization term of franchise license fees	5 years
Maximum [Member]
Franchise Revenues [Abstract]
Amortization term of franchise license fees	20 years
Franchise Royalties [Member]
Revenues [Abstract]
Revenues	$ 1,121	1,225
Supplier and Distributor Incentive Revenues [Member]
Revenues [Abstract]
Revenues	1,192	1,100
Franchise License Fees [Member]
Revenues [Abstract]
Revenues	28	101
Area Development Exclusivity Fees and Foreign Master License Fees [Member]
Revenues [Abstract]
Revenues	3	4
Advertising Fund Contributions [Member]
Revenues [Abstract]
Revenues	464	422
Supplier Convention Funds [Member]
Revenues [Abstract]
Revenues	217	187
Rental Income [Member]
Revenues [Abstract]
Revenues	23	46
Other [Member]
Revenues [Abstract]
Revenues	$ 2	$ 2

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Sep. 24, 2023
Components of Total Lease Expense [Abstract]
Operating lease cost	$ 104	$ 123
Sublease income	(23)	(47)
Total lease expense, net of sublease income	$ 81	$ 76
Weighted Average Remaining Lease Term and Discount Rate [Abstract]
Weighted average remaining lease term	1 year 7 months 6 days	1 year 9 months 18 days
Weighted average discount rate	4%	4%
Maturities of Operating Lease Liabilities [Abstract]
2025	$ 314
2026	382
2027	191
Total operating lease payments	887
Less: imputed interest	(39)
Total operating lease liability	$ 848
Information Technology Equipment [Member] \| Minimum [Member]
Operating Lease, Description [Abstract]
Term of contract	1 year
Information Technology Equipment [Member] \| Maximum [Member]
Operating Lease, Description [Abstract]
Term of contract	5 years
Office Agreements [Member] \| Minimum [Member]
Operating Lease, Description [Abstract]
Term of contract	1 year
Office Agreements [Member] \| Maximum [Member]
Operating Lease, Description [Abstract]
Term of contract	10 years

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
Stock-Based Compensation (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Sep. 24, 2023
Stock Options [Member]
Share-based Arrangement [Abstract]
Stock-based compensation expense recognized	$ 0	$ 0
Unamortized stock-based compensation expense	$ 0
Summary of Shares of Common Stock Subject to Outstanding Stock Options [Roll Forward]
Outstanding at beginning of year (in shares)	114,286	151,750
Granted (in shares)	0	0
Exercised (in shares)	0	0
Forfeited/Canceled/Expired (in shares)	0	(8,664)
Outstanding at end of period (in shares)	114,286	143,086
Exercisable at end of Period (in shares)	114,286	143,086
Restricted Stock Units [Member]
Share-based Arrangement [Abstract]
Stock-based compensation expense recognized	$ 73	$ 79
Unamortized stock-based compensation expense	$ 191
Amortization period	25 days	1 month
Summary of Restricted Stock Units [Roll forward]
Unvested at beginning of year (in shares)	269,063	885,687
Performance adjustment (in shares)	30,771	(25,223)
Granted (in shares)	0	0
Issued (in shares)	0	0
Forfeited (in shares)	0	0
Unvested at end of period (in shares)	299,834	860,464

Earnings per Share (EPS) (Detai

Earnings per Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 526	$ 386
BASIC [Abstract]
Weighted average common shares (in shares)	14,587,000	14,154,000
Net income per common share (in dollars per share)	$ 0.04	$ 0.03
DILUTED [Abstract]
Weighted average common shares (in shares)	14,587,000	14,154,000
Dilutive stock options and restricted stock units (in shares)	212,000	608,000
Weighted average common shares outstanding (in shares)	14,799,000	14,762,000
Net income per common share (in dollars per share)	$ 0.04	$ 0.03
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings per Share [Abstract]
Exercisable options to purchase shares of common stock excluded from computation of diluted EPS (in shares)	71,886	103,086
Intrinsic value of options outstanding	$ 0	$ 0
Stock Options [Member] \| Minimum [Member]
Antidilutive Securities Excluded from Computation of Earnings per Share [Abstract]
Exercisable options to purchase shares of common stock exercise price (in dollars per share)	$ 3.95	$ 3.95
Stock Options [Member] \| Maximum [Member]
Antidilutive Securities Excluded from Computation of Earnings per Share [Abstract]
Exercisable options to purchase shares of common stock exercise price (in dollars per share)	$ 13.11	$ 13.11
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings per Share [Abstract]
Exercisable options to purchase shares of common stock excluded from computation of diluted EPS (in shares)	105,000	90,625

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Sep. 24, 2023
Income Taxes [Abstract]
Federal tax expense	$ 143	$ 108
State tax expense	26	24
Total income tax expense	$ 169	$ 132

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended
Segment Reporting (Details) $ in Thousands	Sep. 29, 2024 USD ($) Segment	Sep. 24, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| Segment	3
Number of operating segments \| Segment	3
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	$ 3,050	$ 3,087
Depreciation and amortization	43	55
Income before taxes	695	518
Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Income before taxes	2,032	1,870
Reportable Geographical Components [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	3,050	3,087
Reportable Geographical Components [Member] \| United States [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	2,987	3,034
Reportable Geographical Components [Member] \| Foreign Countries [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	63	53
Pizza Inn Franchising [Member] \| Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	2,720	2,604
Income before taxes	1,831	1,661
Pie Five Franchising [Member] \| Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	307	436
Income before taxes	201	209
Corporate Administration and Other [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	23	47
Depreciation and amortization	43	55
Corporate Administration and Other [Member] \| Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Income before taxes	$ (1,337)	$ (1,352)