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Side-by-side financial comparison of NOODLES & Co (NDLS) and Sezzle Inc. (SEZL). Click either name above to swap in a different company.
Sezzle Inc. is the larger business by last-quarter revenue ($135.5M vs $122.1M, roughly 1.1× NOODLES & Co). Sezzle Inc. runs the higher net margin — 37.9% vs -7.5%, a 45.3% gap on every dollar of revenue. On growth, Sezzle Inc. posted the faster year-over-year revenue change (29.2% vs -4.1%). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (111.9% CAGR vs -1.2%).
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.
Sezzle is a publicly traded financial technology company headquartered in Minneapolis, U.S, with operations in the United States and Canada. The company provides an alternative payment platform offering interest-free installment plans at selected online stores. As of June 2021, the Sezzle platform had over 10 million user sign-ups and over 48,000 participating merchants.
NDLS vs SEZL — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $135.5M |
| Net Profit | $-9.2M | $51.3M |
| Gross Margin | — | — |
| Operating Margin | -5.2% | 50.9% |
| Net Margin | -7.5% | 37.9% |
| Revenue YoY | -4.1% | 29.2% |
| Net Profit YoY | 32.8% | 41.9% |
| EPS (diluted) | $-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.
| Q1 26 | — | $135.5M | ||
| Q4 25 | — | $78.2M | ||
| Q3 25 | $122.1M | $57.5M | ||
| Q2 25 | $123.8M | $52.0M | ||
| Q1 25 | — | $48.2M | ||
| Q4 24 | $122.8M | $48.4M | ||
| Q3 24 | $127.4M | $35.6M | ||
| Q2 24 | $121.4M | $30.2M |
| Q1 26 | — | $51.3M | ||
| Q4 25 | — | $42.7M | ||
| Q3 25 | $-9.2M | $26.7M | ||
| Q2 25 | $-9.1M | $27.6M | ||
| Q1 25 | — | $36.2M | ||
| Q4 24 | $-6.8M | $25.4M | ||
| Q3 24 | $-13.6M | $15.4M | ||
| Q2 24 | $-6.1M | $29.7M |
| Q1 26 | — | 50.9% | ||
| Q4 25 | — | 70.6% | ||
| Q3 25 | -5.2% | 61.9% | ||
| Q2 25 | -5.2% | 69.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | -3.9% | 63.8% | ||
| Q3 24 | -9.0% | 58.6% | ||
| Q2 24 | -3.4% | 55.3% |
| Q1 26 | — | 37.9% | ||
| Q4 25 | — | 54.6% | ||
| Q3 25 | -7.5% | 46.4% | ||
| Q2 25 | -7.3% | 53.1% | ||
| Q1 25 | — | 75.1% | ||
| Q4 24 | -5.5% | 52.4% | ||
| Q3 24 | -10.7% | 43.4% | ||
| Q2 24 | -5.1% | 98.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.19 | ||
| Q3 25 | $-0.20 | $0.75 | ||
| Q2 25 | $-0.20 | $0.78 | ||
| Q1 25 | — | $1.00 | ||
| Q4 24 | $-0.15 | $0.71 | ||
| Q3 24 | $-0.30 | $0.44 | ||
| Q2 24 | $-0.14 | $0.82 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.7M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.9M | $196.7M |
| Total Assets | $280.6M | $454.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $64.1M | ||
| Q3 25 | $4.7M | $104.1M | ||
| Q2 25 | $1.4M | $88.9M | ||
| Q1 25 | — | $88.9M | ||
| Q4 24 | $3.3M | $73.2M | ||
| Q3 24 | $1.8M | $80.1M | ||
| Q2 24 | $1.3M | $58.0M |
| Q1 26 | — | $196.7M | ||
| Q4 25 | — | $169.8M | ||
| Q3 25 | $-38.9M | $155.3M | ||
| Q2 25 | $-13.9M | $130.4M | ||
| Q1 25 | — | $125.8M | ||
| Q4 24 | $3.7M | $87.8M | ||
| Q3 24 | $9.6M | $61.1M | ||
| Q2 24 | $21.9M | $50.3M |
| Q1 26 | — | $454.3M | ||
| Q4 25 | — | $400.2M | ||
| Q3 25 | $280.6M | $367.0M | ||
| Q2 25 | $319.4M | $350.6M | ||
| Q1 25 | — | $298.1M | ||
| Q4 24 | $340.5M | $298.4M | ||
| Q3 24 | $346.3M | $252.9M | ||
| Q2 24 | $360.4M | $212.1M |
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 | $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.
| Q1 26 | — | — | ||
| Q4 25 | — | $70.6M | ||
| Q3 25 | $4.3M | $63.7M | ||
| Q2 25 | $4.0M | $23.1M | ||
| Q1 25 | — | $52.5M | ||
| Q4 24 | $5.8M | $57.4M | ||
| Q3 24 | $4.7M | $35.1M | ||
| Q2 24 | $7.0M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $70.6M | ||
| Q3 25 | $-2.8M | $63.6M | ||
| Q2 25 | $1.1M | $22.7M | ||
| Q1 25 | — | $52.5M | ||
| Q4 24 | $-1.3M | $57.4M | ||
| Q3 24 | $-4.5M | $35.1M | ||
| Q2 24 | $-1.6M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 90.2% | ||
| Q3 25 | -2.3% | 110.6% | ||
| Q2 25 | 0.9% | 43.6% | ||
| Q1 25 | — | 108.9% | ||
| Q4 24 | -1.1% | 118.5% | ||
| Q3 24 | -3.5% | 98.6% | ||
| Q2 24 | -1.4% | 73.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | 5.8% | 0.3% | ||
| Q2 25 | 2.4% | 0.8% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 5.8% | 0.1% | ||
| Q3 24 | 7.2% | 0.0% | ||
| Q2 24 | 7.1% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 2.39× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 1.45× | ||
| Q4 24 | — | 2.26× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
SEZL
Segment breakdown not available.
