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Side-by-side financial comparison of BLACKLINE, INC. (BL) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $122.1M, roughly 1.5× NOODLES & Co). BLACKLINE, INC. runs the higher net margin — 2.7% vs -7.5%, a 10.2% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -4.1%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $-2.8M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -1.2%).
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
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.
BL vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $122.1M |
| Net Profit | $4.9M | $-9.2M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | -5.2% |
| Net Margin | 2.7% | -7.5% |
| Revenue YoY | 8.1% | -4.1% |
| Net Profit YoY | -91.3% | 32.8% |
| EPS (diluted) | $0.07 | $-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 | $183.2M | — | ||
| Q3 25 | $178.3M | $122.1M | ||
| Q2 25 | $172.0M | $123.8M | ||
| Q1 25 | $166.9M | — | ||
| Q4 24 | $169.5M | $122.8M | ||
| Q3 24 | $165.9M | $127.4M | ||
| Q2 24 | $160.5M | $121.4M | ||
| Q1 24 | $157.5M | $124.3M |
| Q4 25 | $4.9M | — | ||
| Q3 25 | $5.3M | $-9.2M | ||
| Q2 25 | $8.3M | $-9.1M | ||
| Q1 25 | $6.1M | — | ||
| Q4 24 | $56.4M | $-6.8M | ||
| Q3 24 | $17.2M | $-13.6M | ||
| Q2 24 | $76.7M | $-6.1M | ||
| Q1 24 | $10.8M | $-6.1M |
| Q4 25 | 75.2% | — | ||
| Q3 25 | 75.1% | — | ||
| Q2 25 | 75.2% | — | ||
| Q1 25 | 75.5% | — | ||
| Q4 24 | 75.6% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 74.9% | — | ||
| Q1 24 | 75.2% | — |
| Q4 25 | 3.7% | — | ||
| Q3 25 | 4.3% | -5.2% | ||
| Q2 25 | 4.4% | -5.2% | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 3.7% | -3.9% | ||
| Q3 24 | 5.0% | -9.0% | ||
| Q2 24 | 1.4% | -3.4% | ||
| Q1 24 | 1.1% | -3.7% |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 3.0% | -7.5% | ||
| Q2 25 | 4.8% | -7.3% | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 33.3% | -5.5% | ||
| Q3 24 | 10.4% | -10.7% | ||
| Q2 24 | 47.8% | -5.1% | ||
| Q1 24 | 6.9% | -4.9% |
| Q4 25 | $0.07 | — | ||
| Q3 25 | $0.09 | $-0.20 | ||
| Q2 25 | $0.13 | $-0.20 | ||
| Q1 25 | $0.10 | — | ||
| Q4 24 | $0.79 | $-0.15 | ||
| Q3 24 | $0.27 | $-0.30 | ||
| Q2 24 | $0.22 | $-0.14 | ||
| Q1 24 | $0.17 | $-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 | $390.0M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $-38.9M |
| Total Assets | $1.8B | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | — | ||
| Q3 25 | $419.9M | $4.7M | ||
| Q2 25 | $459.1M | $1.4M | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $885.9M | $3.3M | ||
| Q3 24 | $725.3M | $1.8M | ||
| Q2 24 | $616.6M | $1.3M | ||
| Q1 24 | $331.4M | $3.0M |
| Q4 25 | $332.3M | — | ||
| Q3 25 | $328.3M | $-38.9M | ||
| Q2 25 | $414.0M | $-13.9M | ||
| Q1 25 | $417.9M | — | ||
| Q4 24 | $446.7M | $3.7M | ||
| Q3 24 | $367.9M | $9.6M | ||
| Q2 24 | $325.8M | $21.9M | ||
| Q1 24 | $279.8M | $27.2M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | $280.6M | ||
| Q2 25 | $1.8B | $319.4M | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | $340.5M | ||
| Q3 24 | $1.7B | $346.3M | ||
| Q2 24 | $1.9B | $360.4M | ||
| Q1 24 | $2.1B | $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 | $26.7M | $4.3M |
| Free Cash FlowOCF − Capex | $26.1M | $-2.8M |
| FCF MarginFCF / Revenue | 14.2% | -2.3% |
| Capex IntensityCapex / Revenue | 0.3% | 5.8% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | — | ||
| Q3 25 | $63.8M | $4.3M | ||
| Q2 25 | $32.3M | $4.0M | ||
| Q1 25 | $46.7M | — | ||
| Q4 24 | $43.8M | $5.8M | ||
| Q3 24 | $55.9M | $4.7M | ||
| Q2 24 | $40.7M | $7.0M | ||
| Q1 24 | $50.4M | $164.0K |
| Q4 25 | $26.1M | — | ||
| Q3 25 | $63.3M | $-2.8M | ||
| Q2 25 | $31.4M | $1.1M | ||
| Q1 25 | $40.8M | — | ||
| Q4 24 | $43.0M | $-1.3M | ||
| Q3 24 | $55.5M | $-4.5M | ||
| Q2 24 | $40.0M | $-1.6M | ||
| Q1 24 | $50.1M | $-15.2M |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 35.5% | -2.3% | ||
| Q2 25 | 18.2% | 0.9% | ||
| Q1 25 | 24.4% | — | ||
| Q4 24 | 25.4% | -1.1% | ||
| Q3 24 | 33.5% | -3.5% | ||
| Q2 24 | 24.9% | -1.4% | ||
| Q1 24 | 31.8% | -12.2% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.3% | 5.8% | ||
| Q2 25 | 0.6% | 2.4% | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 0.4% | 5.8% | ||
| Q3 24 | 0.2% | 7.2% | ||
| Q2 24 | 0.4% | 7.1% | ||
| Q1 24 | 0.2% | 12.3% |
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | — | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
