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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) 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 $92.1M, roughly 1.3× FLYEXCLUSIVE INC.). FLYEXCLUSIVE INC. runs the higher net margin — -4.6% vs -7.5%, a 2.9% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs -4.1%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-11.0M). Over the past eight quarters, FLYEXCLUSIVE INC.'s revenue compounded faster (21.9% CAGR vs -1.2%).
FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.
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.
FLYX vs NDLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $122.1M |
| Net Profit | $-4.3M | $-9.2M |
| Gross Margin | 13.7% | — |
| Operating Margin | -12.3% | -5.2% |
| Net Margin | -4.6% | -7.5% |
| Revenue YoY | 19.8% | -4.1% |
| Net Profit YoY | 32.0% | 32.8% |
| EPS (diluted) | $-0.25 | $-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.
| Q3 25 | $92.1M | $122.1M | ||
| Q2 25 | $91.3M | $123.8M | ||
| Q1 25 | $88.1M | — | ||
| Q4 24 | — | $122.8M | ||
| Q3 24 | $76.9M | $127.4M | ||
| Q2 24 | $79.0M | $121.4M | ||
| Q1 24 | $80.0M | $124.3M | ||
| Q4 23 | $76.0M | $127.9M |
| Q3 25 | $-4.3M | $-9.2M | ||
| Q2 25 | $-4.8M | $-9.1M | ||
| Q1 25 | $-5.4M | — | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | $-6.3M | $-13.6M | ||
| Q2 24 | $-5.2M | $-6.1M | ||
| Q1 24 | $-5.8M | $-6.1M | ||
| Q4 23 | $-23.4M | $700.0K |
| Q3 25 | 13.7% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 12.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 11.3% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 7.2% | — | ||
| Q4 23 | 7.0% | — |
| Q3 25 | -12.3% | -5.2% | ||
| Q2 25 | -13.5% | -5.2% | ||
| Q1 25 | -16.7% | — | ||
| Q4 24 | — | -3.9% | ||
| Q3 24 | -27.2% | -9.0% | ||
| Q2 24 | -27.6% | -3.4% | ||
| Q1 24 | -34.3% | -3.7% | ||
| Q4 23 | -30.9% | 1.6% |
| Q3 25 | -4.6% | -7.5% | ||
| Q2 25 | -5.2% | -7.3% | ||
| Q1 25 | -6.2% | — | ||
| Q4 24 | — | -5.5% | ||
| Q3 24 | -8.2% | -10.7% | ||
| Q2 24 | -6.5% | -5.1% | ||
| Q1 24 | -7.3% | -4.9% | ||
| Q4 23 | -30.9% | 0.5% |
| Q3 25 | $-0.25 | $-0.20 | ||
| Q2 25 | $-0.26 | $-0.20 | ||
| Q1 25 | $-0.30 | — | ||
| Q4 24 | — | $-0.15 | ||
| Q3 24 | $-0.32 | $-0.30 | ||
| Q2 24 | $-0.32 | $-0.14 | ||
| Q1 24 | $-0.35 | $-1.64 | ||
| Q4 23 | — | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.7M | $4.7M |
| Total DebtLower is stronger | $123.9M | — |
| Stockholders' EquityBook value | $-434.2M | $-38.9M |
| Total Assets | $448.1M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $18.7M | $4.7M | ||
| Q2 25 | $15.8M | $1.4M | ||
| Q1 25 | $14.7M | — | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | $18.7M | $1.8M | ||
| Q2 24 | $9.3M | $1.3M | ||
| Q1 24 | $5.3M | $3.0M | ||
| Q4 23 | $11.6M | $2.5M |
| Q3 25 | $123.9M | — | ||
| Q2 25 | $111.6M | — | ||
| Q1 25 | $121.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $197.9M | — | ||
| Q2 24 | $206.3M | — | ||
| Q1 24 | $209.4M | — | ||
| Q4 23 | $193.3M | — |
| Q3 25 | $-434.2M | $-38.9M | ||
| Q2 25 | $-261.4M | $-13.9M | ||
| Q1 25 | $-281.5M | — | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | $-192.0M | $9.6M | ||
| Q2 24 | $-149.7M | $21.9M | ||
| Q1 24 | $-149.5M | $27.2M | ||
| Q4 23 | $46.5M | $32.5M |
| Q3 25 | $448.1M | $280.6M | ||
| Q2 25 | $443.4M | $319.4M | ||
| Q1 25 | $466.8M | — | ||
| Q4 24 | — | $340.5M | ||
| Q3 24 | $487.1M | $346.3M | ||
| Q2 24 | $494.7M | $360.4M | ||
| Q1 24 | $524.1M | $368.1M | ||
| Q4 23 | $521.0M | $368.8M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 4.16× | — |
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 | $-209.0K | $4.3M |
| Free Cash FlowOCF − Capex | $-11.0M | $-2.8M |
| FCF MarginFCF / Revenue | -12.0% | -2.3% |
| Capex IntensityCapex / Revenue | 11.7% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-209.0K | $4.3M | ||
| Q2 25 | $363.0K | $4.0M | ||
| Q1 25 | $-10.5M | — | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $-12.3M | $4.7M | ||
| Q2 24 | $-16.2M | $7.0M | ||
| Q1 24 | $-26.0M | $164.0K | ||
| Q4 23 | $5.0M | $16.9M |
| Q3 25 | $-11.0M | $-2.8M | ||
| Q2 25 | $353.0K | $1.1M | ||
| Q1 25 | $-14.6M | — | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | $-25.7M | $-4.5M | ||
| Q2 24 | $-26.6M | $-1.6M | ||
| Q1 24 | $-64.5M | $-15.2M | ||
| Q4 23 | $-11.6M | $4.1M |
| Q3 25 | -12.0% | -2.3% | ||
| Q2 25 | 0.4% | 0.9% | ||
| Q1 25 | -16.5% | — | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | -33.5% | -3.5% | ||
| Q2 24 | -33.7% | -1.4% | ||
| Q1 24 | -80.6% | -12.2% | ||
| Q4 23 | -15.3% | 3.2% |
| Q3 25 | 11.7% | 5.8% | ||
| Q2 25 | 0.0% | 2.4% | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | 17.5% | 7.2% | ||
| Q2 24 | 13.2% | 7.1% | ||
| Q1 24 | 48.2% | 12.3% | ||
| Q4 23 | 21.9% | 10.0% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | 24.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLYX
Segment breakdown not available.
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
