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Side-by-side financial comparison of C3.ai, Inc. (AI) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $75.1M, roughly 1.6× C3.ai, Inc.). NOODLES & Co runs the higher net margin — -7.5% vs -139.3%, a 131.8% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -20.3%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-46.9M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
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.
AI vs NDLS — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $122.1M |
| Net Profit | $-104.7M | $-9.2M |
| Gross Margin | 40.4% | — |
| Operating Margin | -149.2% | -5.2% |
| Net Margin | -139.3% | -7.5% |
| Revenue YoY | -20.3% | -4.1% |
| Net Profit YoY | -58.7% | 32.8% |
| EPS (diluted) | $-0.75 | $-0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | — | ||
| Q3 25 | $70.3M | $122.1M | ||
| Q2 25 | $108.7M | $123.8M | ||
| Q1 25 | $98.8M | — | ||
| Q4 24 | $94.3M | $122.8M | ||
| Q3 24 | $87.2M | $127.4M | ||
| Q2 24 | $86.6M | $121.4M | ||
| Q1 24 | $78.4M | $124.3M |
| Q4 25 | $-104.7M | — | ||
| Q3 25 | $-116.8M | $-9.2M | ||
| Q2 25 | $-79.7M | $-9.1M | ||
| Q1 25 | $-80.2M | — | ||
| Q4 24 | $-66.0M | $-6.8M | ||
| Q3 24 | $-62.8M | $-13.6M | ||
| Q2 24 | $-72.9M | $-6.1M | ||
| Q1 24 | $-72.6M | $-6.1M |
| Q4 25 | 40.4% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 62.1% | — | ||
| Q1 25 | 59.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 59.8% | — | ||
| Q2 24 | 59.6% | — | ||
| Q1 24 | 57.8% | — |
| Q4 25 | -149.2% | — | ||
| Q3 25 | -177.7% | -5.2% | ||
| Q2 25 | -81.8% | -5.2% | ||
| Q1 25 | -88.7% | — | ||
| Q4 24 | -79.8% | -3.9% | ||
| Q3 24 | -83.2% | -9.0% | ||
| Q2 24 | -95.1% | -3.4% | ||
| Q1 24 | -105.3% | -3.7% |
| Q4 25 | -139.3% | — | ||
| Q3 25 | -166.2% | -7.5% | ||
| Q2 25 | -73.3% | -7.3% | ||
| Q1 25 | -81.2% | — | ||
| Q4 24 | -69.9% | -5.5% | ||
| Q3 24 | -72.0% | -10.7% | ||
| Q2 24 | -84.2% | -5.1% | ||
| Q1 24 | -92.6% | -4.9% |
| Q4 25 | $-0.75 | — | ||
| Q3 25 | $-0.86 | $-0.20 | ||
| Q2 25 | $-0.60 | $-0.20 | ||
| Q1 25 | $-0.62 | — | ||
| Q4 24 | $-0.52 | $-0.15 | ||
| Q3 24 | $-0.50 | $-0.30 | ||
| Q2 24 | $-0.59 | $-0.14 | ||
| Q1 24 | $-0.60 | $-1.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $-38.9M |
| Total Assets | $961.3M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | — | ||
| Q3 25 | $711.9M | $4.7M | ||
| Q2 25 | $742.7M | $1.4M | ||
| Q1 25 | $724.3M | — | ||
| Q4 24 | $730.4M | $3.3M | ||
| Q3 24 | $762.5M | $1.8M | ||
| Q2 24 | $750.4M | $1.3M | ||
| Q1 24 | $723.3M | $3.0M |
| Q4 25 | $771.9M | — | ||
| Q3 25 | $798.8M | $-38.9M | ||
| Q2 25 | $838.3M | $-13.9M | ||
| Q1 25 | $860.2M | — | ||
| Q4 24 | $859.0M | $3.7M | ||
| Q3 24 | $874.9M | $9.6M | ||
| Q2 24 | $873.4M | $21.9M | ||
| Q1 24 | $898.0M | $27.2M |
| Q4 25 | $961.3M | — | ||
| Q3 25 | $968.7M | $280.6M | ||
| Q2 25 | $1.0B | $319.4M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.0B | $340.5M | ||
| Q3 24 | $1.1B | $346.3M | ||
| Q2 24 | $1.0B | $360.4M | ||
| Q1 24 | $1.1B | $368.1M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | $4.3M |
| Free Cash FlowOCF − Capex | $-46.9M | $-2.8M |
| FCF MarginFCF / Revenue | -62.4% | -2.3% |
| Capex IntensityCapex / Revenue | 0.5% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | — | ||
| Q3 25 | $-33.5M | $4.3M | ||
| Q2 25 | $11.3M | $4.0M | ||
| Q1 25 | $-22.0M | — | ||
| Q4 24 | $-38.7M | $5.8M | ||
| Q3 24 | $8.0M | $4.7M | ||
| Q2 24 | $21.3M | $7.0M | ||
| Q1 24 | $-39.1M | $164.0K |
| Q4 25 | $-46.9M | — | ||
| Q3 25 | $-34.3M | $-2.8M | ||
| Q2 25 | $10.3M | $1.1M | ||
| Q1 25 | $-22.4M | — | ||
| Q4 24 | $-39.5M | $-1.3M | ||
| Q3 24 | $7.1M | $-4.5M | ||
| Q2 24 | $18.8M | $-1.6M | ||
| Q1 24 | $-45.1M | $-15.2M |
| Q4 25 | -62.4% | — | ||
| Q3 25 | -48.8% | -2.3% | ||
| Q2 25 | 9.5% | 0.9% | ||
| Q1 25 | -22.7% | — | ||
| Q4 24 | -41.9% | -1.1% | ||
| Q3 24 | 8.2% | -3.5% | ||
| Q2 24 | 21.7% | -1.4% | ||
| Q1 24 | -57.6% | -12.2% |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 1.1% | 5.8% | ||
| Q2 25 | 0.9% | 2.4% | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.9% | 5.8% | ||
| Q3 24 | 1.1% | 7.2% | ||
| Q2 24 | 2.9% | 7.1% | ||
| Q1 24 | 7.8% | 12.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
