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Side-by-side financial comparison of Fluent, Inc. (FLNT) 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 $61.8M, roughly 2.0× Fluent, Inc.). Fluent, Inc. runs the higher net margin — -6.7% vs -7.5%, a 0.8% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -5.5%). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -3.2%).
THG Fluently, formerly Language Connect, is a translation and language localisation service provided by THG Ingenuity. It provides a range of language services, including translation, interpreting, localisation, voice-overs, transcription, and multilingual search engine optimization.
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.
FLNT vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.8M | $122.1M |
| Net Profit | $-4.1M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | 0.3% | -5.2% |
| Net Margin | -6.7% | -7.5% |
| Revenue YoY | -5.5% | -4.1% |
| Net Profit YoY | -20.1% | 32.8% |
| EPS (diluted) | $-0.09 | $-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 | $61.8M | — | ||
| Q3 25 | $47.0M | $122.1M | ||
| Q2 25 | $44.7M | $123.8M | ||
| Q1 25 | $55.2M | — | ||
| Q4 24 | $65.4M | $122.8M | ||
| Q3 24 | $64.5M | $127.4M | ||
| Q2 24 | $58.7M | $121.4M | ||
| Q1 24 | $66.0M | $124.3M |
| Q4 25 | $-4.1M | — | ||
| Q3 25 | $-7.6M | $-9.2M | ||
| Q2 25 | $-7.2M | $-9.1M | ||
| Q1 25 | $-8.3M | — | ||
| Q4 24 | $-3.4M | $-6.8M | ||
| Q3 24 | $-7.9M | $-13.6M | ||
| Q2 24 | $-11.6M | $-6.1M | ||
| Q1 24 | $-6.3M | $-6.1M |
| Q4 25 | 0.3% | — | ||
| Q3 25 | -13.4% | -5.2% | ||
| Q2 25 | -15.9% | -5.2% | ||
| Q1 25 | -12.8% | — | ||
| Q4 24 | -8.3% | -3.9% | ||
| Q3 24 | -6.0% | -9.0% | ||
| Q2 24 | -17.7% | -3.4% | ||
| Q1 24 | -6.0% | -3.7% |
| Q4 25 | -6.7% | — | ||
| Q3 25 | -16.1% | -7.5% | ||
| Q2 25 | -16.2% | -7.3% | ||
| Q1 25 | -15.0% | — | ||
| Q4 24 | -5.2% | -5.5% | ||
| Q3 24 | -12.3% | -10.7% | ||
| Q2 24 | -19.8% | -5.1% | ||
| Q1 24 | -9.5% | -4.9% |
| Q4 25 | $-0.09 | — | ||
| Q3 25 | $-0.27 | $-0.20 | ||
| Q2 25 | $-0.30 | $-0.20 | ||
| Q1 25 | $-0.39 | — | ||
| Q4 24 | $-0.12 | $-0.15 | ||
| Q3 24 | $-0.48 | $-0.30 | ||
| Q2 24 | $-0.75 | $-0.14 | ||
| Q1 24 | $-0.45 | $-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 | $12.9M | $4.7M |
| Total DebtLower is stronger | $34.6M | — |
| Stockholders' EquityBook value | $18.2M | $-38.9M |
| Total Assets | $89.1M | $280.6M |
| Debt / EquityLower = less leverage | 1.90× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.9M | — | ||
| Q3 25 | $9.2M | $4.7M | ||
| Q2 25 | $4.9M | $1.4M | ||
| Q1 25 | $4.8M | — | ||
| Q4 24 | $9.4M | $3.3M | ||
| Q3 24 | $6.6M | $1.8M | ||
| Q2 24 | $5.0M | $1.3M | ||
| Q1 24 | $11.7M | $3.0M |
| Q4 25 | $34.6M | — | ||
| Q3 25 | $26.0M | — | ||
| Q2 25 | $23.2M | — | ||
| Q1 25 | $25.6M | — | ||
| Q4 24 | $35.6M | — | ||
| Q3 24 | $37.9M | — | ||
| Q2 24 | $33.3M | — | ||
| Q1 24 | $31.0M | — |
| Q4 25 | $18.2M | — | ||
| Q3 25 | $21.6M | $-38.9M | ||
| Q2 25 | $19.1M | $-13.9M | ||
| Q1 25 | $22.0M | — | ||
| Q4 24 | $25.0M | $3.7M | ||
| Q3 24 | $20.0M | $9.6M | ||
| Q2 24 | $27.5M | $21.9M | ||
| Q1 24 | $28.7M | $27.2M |
| Q4 25 | $89.1M | — | ||
| Q3 25 | $76.1M | $280.6M | ||
| Q2 25 | $74.5M | $319.4M | ||
| Q1 25 | $77.5M | — | ||
| Q4 24 | $93.6M | $340.5M | ||
| Q3 24 | $77.5M | $346.3M | ||
| Q2 24 | $98.5M | $360.4M | ||
| Q1 24 | $103.6M | $368.1M |
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.21× | — | ||
| Q1 25 | 1.16× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.90× | — | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 1.08× | — |
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 | $2.8M | $4.3M |
| Free Cash FlowOCF − Capex | — | $-2.8M |
| FCF MarginFCF / Revenue | — | -2.3% |
| Capex IntensityCapex / Revenue | — | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.8M | — | ||
| Q3 25 | $-7.3M | $4.3M | ||
| Q2 25 | $935.0K | $4.0M | ||
| Q1 25 | $2.1M | — | ||
| Q4 24 | $-2.1M | $5.8M | ||
| Q3 24 | $1.2M | $4.7M | ||
| Q2 24 | $-13.1M | $7.0M | ||
| Q1 24 | $-132.0K | $164.0K |
| Q4 25 | — | — | ||
| Q3 25 | $-7.3M | $-2.8M | ||
| Q2 25 | — | $1.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | $1.2M | $-4.5M | ||
| Q2 24 | — | $-1.6M | ||
| Q1 24 | — | $-15.2M |
| Q4 25 | — | — | ||
| Q3 25 | -15.6% | -2.3% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | 1.9% | -3.5% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | -12.2% |
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | 5.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | 0.0% | 7.2% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 12.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLNT
| Commerce Media Solutions | $34.7M | 56% |
| Owned And Operated | $21.3M | 34% |
| Call Solutions | $3.8M | 6% |
| Ad Parlor | $2.0M | 3% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
