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NDLS

Noodles & Company

NDLS

Noodles & Company • NASDAQ
$0.70 ▼ -3.84% (-0.03)
Market Cap $32.30 M
52w High $1.74
52w Low $0.55
Dividend Yield 0%
P/E -0.7
Volume 88.98K
Outstanding Shares 46.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $122.086M ▼ $49.121M ▼ $-9.151M ▲ -7.496% ▲ $-0.2 ▲ $285K ▲
Q2-2025 $126.433M ▲ $57.679M ▲ $-17.552M ▼ -13.882% ▼ $-0.38 ▼ $-7.639M ▼
Q1-2025 $123.794M ▲ $46.998M ▲ $-9.057M ▲ -7.316% ▲ $-0.2 ▲ $703K ▲
Q4-2024 $121.774M ▼ $23.303M ▲ $-9.693M ▼ -7.96% ▼ $-0.21 ▼ $-283K ▼
Q3-2024 $122.751M $22.796M $-6.755M -5.503% $-0.15 $2.448M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4.694M ▲ $280.572M ▼ $319.471M ▼ $-38.899M ▼
Q2-2025 $2.264M ▲ $294.575M ▼ $325.35M ▼ $-30.775M ▼
Q1-2025 $1.396M ▲ $319.45M ▼ $333.355M ▲ $-13.905M ▼
Q4-2024 $1.149M ▼ $324.648M ▼ $330.227M ▼ $-5.579M ▼
Q3-2024 $3.308M $340.535M $336.8M $3.735M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-17.552M ▼ $-852K ▼ $-3.4M ▼ $5.12M ▲ $868K ▲ $-4.252M ▼
Q1-2025 $-9.057M ▲ $4.033M ▲ $-2.918M ▲ $-868K ▼ $247K ▲ $1.115M ▲
Q4-2024 $-9.693M ▼ $-9.984M ▼ $-3.793M ▲ $11.618M ▲ $-2.159M ▼ $-13.777M ▼
Q3-2024 $-6.755M ▲ $5.817M ▲ $-7.147M ▼ $2.832M ▼ $1.502M ▲ $-1.33M ▲
Q2-2024 $-13.625M $4.723M $-7.127M $2.876M $472K $-4.457M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Food and Beverage
Food and Beverage
 $360.00M ▲$120.00M ▼$120.00M ▲$120.00M ▲
Franchise
Franchise
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly flat over the past several years, suggesting the brand is maintaining its scale but not meaningfully growing yet. Profitability is the main weak spot: gross profit has improved somewhat recently, but operating income and net income have stayed in the red, with losses widening again in the latest year. Margins are thin, leaving little room to absorb food, labor, or occupancy cost pressures. Overall, the business looks stuck between break-even and modest losses, indicating that the core economics of each restaurant still need improvement.

Balance Sheet

Balance Sheet The balance sheet is tight. Total assets have been roughly stable, but the company holds very little cash and carries a relatively heavy debt load for its size. Equity has slipped into negative territory, which reflects accumulated losses over time and reduces the financial cushion available to absorb future setbacks. This structure limits flexibility and makes the business more sensitive to any downturn in sales or unexpected costs.

Cash Flow

Cash Flow The company is generating positive cash from day‑to‑day operations, but not by a wide margin. After spending on new stores, remodels, and equipment, free cash flow has generally been negative, meaning growth and upkeep have required more cash than the business is producing internally. Capital spending is not large, but it still weighs on already thin cash generation. This pattern points to a business that must manage cash carefully and may have limited room for aggressive expansion without additional funding or improved profitability.

Competitive Edge

Competitive Edge Noodles & Company sits in a crowded fast‑casual space but is differentiated by its noodle‑centric, globally inspired menu and strong emphasis on customization. Its digital ordering, app, and rewards program are clear strengths, helping drive off‑premise sales and repeat visits. At the same time, the brand competes against larger, better‑capitalized chains with stronger margins and more marketing firepower. The ongoing closure of weaker locations and the need for a broad menu refresh suggest the current competitive position is distinctive but not yet translating into consistently strong restaurant‑level economics.

Innovation and R&D

Innovation and R&D The company is leaning heavily on innovation to reset its trajectory. It has overhauled its menu with bolder flavors, upgraded recipes, and an expanded comfort‑food lineup, while also adding items aimed at health‑conscious customers. On the technology side, a digital‑first approach, loyalty program, and smaller, more efficient store formats are designed to improve both customer experience and economics. Kitchen upgrades and operational changes are intended to speed service and boost consistency. These initiatives show a willingness to experiment and adapt, but their ultimate impact on traffic and profitability will take time to prove out.

Summary

Noodles & Company appears to be at a turning point: strategically active but financially strained. The brand has clear strengths in menu differentiation, customization, and digital engagement, all supported by a visible push to modernize operations and refine the store base. However, flat sales, persistent losses, negative equity, and modest cash generation highlight a fragile financial profile. The core question going forward is whether the combination of menu innovation, digital focus, and portfolio pruning can lift same‑store performance enough to strengthen margins, reduce dependence on debt, and turn the concept into a consistently profitable platform.

NEWS

November 5, 2025 · 4:05 PM UTC

Noodles & Company Announces Third Quarter 2025 Financial Results

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November 3, 2025 · 8:00 AM UTC

Noodles & Company Serves Up a Delicious Alternative as Pizza Fatigue Hits This Holiday Season

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October 9, 2025 · 8:00 AM UTC

Noodles & Company Turns Up the Heat with New Chili Garlic Ramen

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September 30, 2025 · 8:00 AM UTC

You're invited: party like it's 1995 with nostalgic prices inspired by Noodles & Company's beginnings

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September 3, 2025 · 4:05 PM UTC

Noodles & Company Announces Review of Strategic Alternatives to Maximize Shareholder Value

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