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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) 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 $106.2M, roughly 1.2× GRID DYNAMICS HOLDINGS, INC.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — 0.3% vs -7.5%, a 7.8% gap on every dollar of revenue. On growth, GRID DYNAMICS HOLDINGS, INC. posted the faster year-over-year revenue change (5.9% vs -4.1%). GRID DYNAMICS HOLDINGS, INC. produced more free cash flow last quarter ($6.1M vs $-2.8M). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (15.3% CAGR vs -1.2%).
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
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.
GDYN vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $106.2M | $122.1M |
| Net Profit | $306.0K | $-9.2M |
| Gross Margin | 34.0% | — |
| Operating Margin | 0.5% | -5.2% |
| Net Margin | 0.3% | -7.5% |
| Revenue YoY | 5.9% | -4.1% |
| Net Profit YoY | -93.2% | 32.8% |
| EPS (diluted) | $0.01 | $-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 | $106.2M | — | ||
| Q3 25 | $104.2M | $122.1M | ||
| Q2 25 | $101.1M | $123.8M | ||
| Q1 25 | $100.4M | — | ||
| Q4 24 | $100.3M | $122.8M | ||
| Q3 24 | $87.4M | $127.4M | ||
| Q2 24 | $83.0M | $121.4M | ||
| Q1 24 | $79.8M | $124.3M |
| Q4 25 | $306.0K | — | ||
| Q3 25 | $1.2M | $-9.2M | ||
| Q2 25 | $5.3M | $-9.1M | ||
| Q1 25 | $2.9M | — | ||
| Q4 24 | $4.5M | $-6.8M | ||
| Q3 24 | $4.3M | $-13.6M | ||
| Q2 24 | $-817.0K | $-6.1M | ||
| Q1 24 | $-3.9M | $-6.1M |
| Q4 25 | 34.0% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 34.1% | — | ||
| Q1 25 | 36.8% | — | ||
| Q4 24 | 36.9% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 35.6% | — | ||
| Q1 24 | 34.7% | — |
| Q4 25 | 0.5% | — | ||
| Q3 25 | -0.2% | -5.2% | ||
| Q2 25 | -0.1% | -5.2% | ||
| Q1 25 | -2.0% | — | ||
| Q4 24 | 1.3% | -3.9% | ||
| Q3 24 | 2.4% | -9.0% | ||
| Q2 24 | 0.0% | -3.4% | ||
| Q1 24 | -6.9% | -3.7% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 1.1% | -7.5% | ||
| Q2 25 | 5.2% | -7.3% | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 4.5% | -5.5% | ||
| Q3 24 | 4.9% | -10.7% | ||
| Q2 24 | -1.0% | -5.1% | ||
| Q1 24 | -4.9% | -4.9% |
| Q4 25 | $0.01 | — | ||
| Q3 25 | $0.01 | $-0.20 | ||
| Q2 25 | $0.06 | $-0.20 | ||
| Q1 25 | $0.03 | — | ||
| Q4 24 | $0.06 | $-0.15 | ||
| Q3 24 | $0.05 | $-0.30 | ||
| Q2 24 | $-0.01 | $-0.14 | ||
| Q1 24 | $-0.05 | $-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 | $342.1M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $542.1M | $-38.9M |
| Total Assets | $612.9M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $342.1M | — | ||
| Q3 25 | $338.6M | $4.7M | ||
| Q2 25 | $336.8M | $1.4M | ||
| Q1 25 | $325.5M | — | ||
| Q4 24 | $334.7M | $3.3M | ||
| Q3 24 | $231.3M | $1.8M | ||
| Q2 24 | $256.0M | $1.3M | ||
| Q1 24 | $249.4M | $3.0M |
| Q4 25 | $542.1M | — | ||
| Q3 25 | $537.7M | $-38.9M | ||
| Q2 25 | $532.2M | $-13.9M | ||
| Q1 25 | $517.4M | — | ||
| Q4 24 | $517.8M | $3.7M | ||
| Q3 24 | $400.2M | $9.6M | ||
| Q2 24 | $388.4M | $21.9M | ||
| Q1 24 | $382.8M | $27.2M |
| Q4 25 | $612.9M | — | ||
| Q3 25 | $613.2M | $280.6M | ||
| Q2 25 | $608.9M | $319.4M | ||
| Q1 25 | $590.9M | — | ||
| Q4 24 | $592.2M | $340.5M | ||
| Q3 24 | $477.3M | $346.3M | ||
| Q2 24 | $443.6M | $360.4M | ||
| Q1 24 | $435.3M | $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 | $9.9M | $4.3M |
| Free Cash FlowOCF − Capex | $6.1M | $-2.8M |
| FCF MarginFCF / Revenue | 5.7% | -2.3% |
| Capex IntensityCapex / Revenue | 3.6% | 5.8% |
| Cash ConversionOCF / Net Profit | 32.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.3M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.9M | — | ||
| Q3 25 | $7.0M | $4.3M | ||
| Q2 25 | $14.4M | $4.0M | ||
| Q1 25 | $9.4M | — | ||
| Q4 24 | $7.1M | $5.8M | ||
| Q3 24 | $9.2M | $4.7M | ||
| Q2 24 | $10.7M | $7.0M | ||
| Q1 24 | $3.2M | $164.0K |
| Q4 25 | $6.1M | — | ||
| Q3 25 | $2.9M | $-2.8M | ||
| Q2 25 | $10.2M | $1.1M | ||
| Q1 25 | $6.0M | — | ||
| Q4 24 | $4.4M | $-1.3M | ||
| Q3 24 | $5.9M | $-4.5M | ||
| Q2 24 | $8.0M | $-1.6M | ||
| Q1 24 | $43.0K | $-15.2M |
| Q4 25 | 5.7% | — | ||
| Q3 25 | 2.8% | -2.3% | ||
| Q2 25 | 10.1% | 0.9% | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 4.4% | -1.1% | ||
| Q3 24 | 6.8% | -3.5% | ||
| Q2 24 | 9.7% | -1.4% | ||
| Q1 24 | 0.1% | -12.2% |
| Q4 25 | 3.6% | — | ||
| Q3 25 | 3.9% | 5.8% | ||
| Q2 25 | 4.1% | 2.4% | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 2.6% | 5.8% | ||
| Q3 24 | 3.7% | 7.2% | ||
| Q2 24 | 3.2% | 7.1% | ||
| Q1 24 | 4.0% | 12.3% |
| Q4 25 | 32.34× | — | ||
| Q3 25 | 5.92× | — | ||
| Q2 25 | 2.73× | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 2.15× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GDYN
| Other | $30.6M | 29% |
| Technology Media And Telecom | $30.1M | 28% |
| Financial Service | $24.3M | 23% |
| Manufactured Product Other | $10.8M | 10% |
| Related Party | $7.6M | 7% |
| Health Care | $2.8M | 3% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
