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Side-by-side financial comparison of CorMedix Inc. (CRMD) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
CorMedix Inc. is the larger business by last-quarter revenue ($128.6M vs $122.1M, roughly 1.1× NOODLES & Co). CorMedix Inc. produced more free cash flow last quarter ($92.7M vs $-2.8M).
CorMedix Inc. is a commercial-stage biopharmaceutical company focused on developing and commercializing novel therapeutic products for the prevention and treatment of infectious, inflammatory and cardiorenal diseases. Its lead candidate targets catheter-related bloodstream infections, serving critical care and chronic dialysis patient populations primarily across North America and European markets.
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.
CRMD vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $128.6M | $122.1M |
| Net Profit | — | $-9.2M |
| Gross Margin | 83.4% | — |
| Operating Margin | 46.0% | -5.2% |
| Net Margin | — | -7.5% |
| Revenue YoY | — | -4.1% |
| Net Profit YoY | — | 32.8% |
| EPS (diluted) | $0.20 | $-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 | $128.6M | — | ||
| Q3 25 | $104.3M | $122.1M | ||
| Q2 25 | $39.7M | $123.8M | ||
| Q1 25 | $39.1M | — | ||
| Q4 24 | — | $122.8M | ||
| Q3 24 | — | $127.4M | ||
| Q2 24 | — | $121.4M | ||
| Q1 24 | — | $124.3M |
| Q4 25 | — | — | ||
| Q3 25 | $108.6M | $-9.2M | ||
| Q2 25 | $19.8M | $-9.1M | ||
| Q1 25 | $20.6M | — | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | — | $-13.6M | ||
| Q2 24 | — | $-6.1M | ||
| Q1 24 | — | $-6.1M |
| Q4 25 | 83.4% | — | ||
| Q3 25 | 89.3% | — | ||
| Q2 25 | 95.3% | — | ||
| Q1 25 | 95.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 46.0% | — | ||
| Q3 25 | 49.2% | -5.2% | ||
| Q2 25 | 49.2% | -5.2% | ||
| Q1 25 | 51.5% | — | ||
| Q4 24 | — | -3.9% | ||
| Q3 24 | — | -9.0% | ||
| Q2 24 | — | -3.4% | ||
| Q1 24 | — | -3.7% |
| Q4 25 | — | — | ||
| Q3 25 | 104.1% | -7.5% | ||
| Q2 25 | 49.9% | -7.3% | ||
| Q1 25 | 52.8% | — | ||
| Q4 24 | — | -5.5% | ||
| Q3 24 | — | -10.7% | ||
| Q2 24 | — | -5.1% | ||
| Q1 24 | — | -4.9% |
| Q4 25 | $0.20 | — | ||
| Q3 25 | $1.26 | $-0.20 | ||
| Q2 25 | $0.28 | $-0.20 | ||
| Q1 25 | $0.30 | — | ||
| Q4 24 | — | $-0.15 | ||
| Q3 24 | — | $-0.30 | ||
| Q2 24 | — | $-0.14 | ||
| Q1 24 | — | $-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 | $148.5M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.3M | $-38.9M |
| Total Assets | $826.1M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | — | ||
| Q3 25 | $55.7M | $4.7M | ||
| Q2 25 | $190.7M | $1.4M | ||
| Q1 25 | $77.5M | — | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | — | $1.8M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $3.0M |
| Q4 25 | $405.3M | — | ||
| Q3 25 | $374.1M | $-38.9M | ||
| Q2 25 | $220.6M | $-13.9M | ||
| Q1 25 | $114.9M | — | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | — | $9.6M | ||
| Q2 24 | — | $21.9M | ||
| Q1 24 | — | $27.2M |
| Q4 25 | $826.1M | — | ||
| Q3 25 | $750.9M | $280.6M | ||
| Q2 25 | $252.6M | $319.4M | ||
| Q1 25 | $149.6M | — | ||
| Q4 24 | — | $340.5M | ||
| Q3 24 | — | $346.3M | ||
| Q2 24 | — | $360.4M | ||
| Q1 24 | — | $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 | $94.5M | $4.3M |
| Free Cash FlowOCF − Capex | $92.7M | $-2.8M |
| FCF MarginFCF / Revenue | 72.1% | -2.3% |
| Capex IntensityCapex / Revenue | 1.3% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $172.8M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.5M | — | ||
| Q3 25 | $30.9M | $4.3M | ||
| Q2 25 | $30.0M | $4.0M | ||
| Q1 25 | $19.7M | — | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | — | $4.7M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $164.0K |
| Q4 25 | $92.7M | — | ||
| Q3 25 | $30.4M | $-2.8M | ||
| Q2 25 | $30.0M | $1.1M | ||
| Q1 25 | $19.7M | — | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | — | $-4.5M | ||
| Q2 24 | — | $-1.6M | ||
| Q1 24 | — | $-15.2M |
| Q4 25 | 72.1% | — | ||
| Q3 25 | 29.1% | -2.3% | ||
| Q2 25 | 75.4% | 0.9% | ||
| Q1 25 | 50.5% | — | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -3.5% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | -12.2% |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.5% | 5.8% | ||
| Q2 25 | 0.1% | 2.4% | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 12.3% |
| Q4 25 | — | — | ||
| Q3 25 | 0.28× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRMD
| Acquisition Of Melinta | $52.9M | 41% |
| Melinta Portfolio | $45.5M | 35% |
| Other | $18.6M | 14% |
| Contract Revenue | $7.4M | 6% |
| BARDA Agreement | $4.2M | 3% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
