NOODLES & CoNDLSEarnings & Financial Report
Noodles & Company is an American fast-casual restaurant that offers international and American noodle dishes in addition to soups and salads. Noodles & Company was founded in 1995 by Aaron Kennedy and is headquartered in Broomfield, Colorado. The company went public in 2013 and recorded a $457 million revenue in 2017. In mid-2022, there were 458 Noodles & Company locations across 31 states.
Revenue
$124.3M
Gross Profit
N/A
Operating Profit
$-4.6M
Net Profit
$-6.1M
Gross Margin
N/A
Operating Margin
-3.7%
Net Margin
-4.9%
YoY Growth
-8.9%
EPS
$-1.64
NOODLES & Co Q4 FY2023 Financial Summary
NOODLES & Co reported revenue of $124.3M (down 8.9% YoY) for Q4 FY2023, with a net profit of $-6.1M (down 729.4% YoY) (-4.9% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $124.3M |
|---|---|
| Net Profit | $-6.1M |
| Gross Margin | N/A |
| Operating Margin | -3.7% |
| Report Period | Q4 FY2023 |
Revenue Breakdown
NOODLES & Co Q4 FY2023 revenue of $124.3M breaks down across 2 segments, led by Food And Beverage at $121.8M (98.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Food And Beverage | $121.8M | 98.0% |
| Franchise | $2.5M | 2.0% |
NOODLES & Co Revenue by Segment — Quarterly Trend
NOODLES & Co revenue by segment across the last 4 reported quarters, showing how each business line (such as Food And Beverage and Franchise) has evolved quarter over quarter.
| Segment | Q3 FY2025 | Q1 FY2025 | Q3 FY2024 | Q2 FY2024 |
|---|---|---|---|---|
| Food And Beverage | $119.6M | $121.3M | $120.2M | $124.7M |
| Franchise | $2.5M | $2.5M | $2.6M | $2.6M |
NOODLES & Co Annual Revenue by Year
NOODLES & Co annual revenue history includes year-by-year totals (for example, 2023 revenue was $503.4M).
| Year | Annual Revenue |
|---|---|
| 2023 | $503.4M |
| 2022 | $509.5M |
NOODLES & Co Quarterly Revenue & Net Profit History
NOODLES & Co results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 FY2025 | $122.1M | -4.1% | $-9.2M | -7.5% |
| Q1 FY2025 | $123.8M | +2.0% | $-9.1M | -7.3% |
| Q3 FY2024 | $122.8M | -4.0% | $-6.8M | -5.5% |
| Q2 FY2024 | $127.4M | +1.8% | $-13.6M | -10.7% |
| Q1 FY2024 | $121.4M | -3.7% | $-6.1M | -5.1% |
| Q4 FY2023 | $124.3M | -8.9% | $-6.1M | -4.9% |
| Q3 FY2023 | $127.9M | — | $700.0K | 0.5% |
| Q2 FY2023 | $125.2M | -3.3% | $-1.3M | -1.0% |
Income Statement
| Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $125.2M | $127.9M | $124.3M | $121.4M | $127.4M | $122.8M | $123.8M | $122.1M |
| YoY Growth | -3.3% | N/A | -8.9% | -3.7% | 1.8% | -4.0% | 2.0% | -4.1% |
Balance Sheet
| Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $357.6M | $368.8M | $368.1M | $360.4M | $346.3M | $340.5M | $319.4M | $280.6M |
| Liabilities | $321.5M | $336.3M | $340.9M | $338.5M | $336.6M | $336.8M | $333.4M | $319.5M |
| Equity | $36.1M | $32.5M | $27.2M | $21.9M | $9.6M | $3.7M | $-13.9M | $-38.9M |
Cash Flow
| Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $3.2M | $16.9M | $164000 | $7.0M | $4.7M | $5.8M | $4.0M | $4.3M |