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Side-by-side financial comparison of NOODLES & Co (NDLS) and Skillsoft Corp. (SKIL). Click either name above to swap in a different company.
Skillsoft Corp. is the larger business by last-quarter revenue ($129.0M vs $122.1M, roughly 1.1× NOODLES & Co). NOODLES & Co runs the higher net margin — -7.5% vs -32.0%, a 24.5% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -6.0%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-19.3M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -3.2%).
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.
Skillsoft is an American educational technology company that produces learning management system software and content.
NDLS vs SKIL — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $122.1M | $129.0M |
| Net Profit | $-9.2M | $-41.3M |
| Gross Margin | — | 72.7% |
| Operating Margin | -5.2% | -26.6% |
| Net Margin | -7.5% | -32.0% |
| Revenue YoY | -4.1% | -6.0% |
| Net Profit YoY | 32.8% | -74.9% |
| 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.
| Q4 25 | — | $129.0M | ||
| Q3 25 | $122.1M | $128.8M | ||
| Q2 25 | $123.8M | $124.2M | ||
| Q1 25 | — | $133.8M | ||
| Q4 24 | $122.8M | $137.2M | ||
| Q3 24 | $127.4M | $132.2M | ||
| Q2 24 | $121.4M | $127.8M | ||
| Q1 24 | $124.3M | $137.5M |
| Q4 25 | — | $-41.3M | ||
| Q3 25 | $-9.2M | $-23.8M | ||
| Q2 25 | $-9.1M | $-38.0M | ||
| Q1 25 | — | $-31.1M | ||
| Q4 24 | $-6.8M | $-23.6M | ||
| Q3 24 | $-13.6M | $-39.6M | ||
| Q2 24 | $-6.1M | $-27.6M | ||
| Q1 24 | $-6.1M | $-245.3M |
| Q4 25 | — | 72.7% | ||
| Q3 25 | — | 74.5% | ||
| Q2 25 | — | 74.0% | ||
| Q1 25 | — | 74.9% | ||
| Q4 24 | — | 75.0% | ||
| Q3 24 | — | 75.4% | ||
| Q2 24 | — | 73.0% | ||
| Q1 24 | — | 72.0% |
| Q4 25 | — | -26.6% | ||
| Q3 25 | -5.2% | -9.2% | ||
| Q2 25 | -5.2% | -14.6% | ||
| Q1 25 | — | -12.9% | ||
| Q4 24 | -3.9% | -6.7% | ||
| Q3 24 | -9.0% | -14.6% | ||
| Q2 24 | -3.4% | -18.6% | ||
| Q1 24 | -3.7% | -165.8% |
| Q4 25 | — | -32.0% | ||
| Q3 25 | -7.5% | -18.5% | ||
| Q2 25 | -7.3% | -30.6% | ||
| Q1 25 | — | -23.3% | ||
| Q4 24 | -5.5% | -17.2% | ||
| Q3 24 | -10.7% | -29.9% | ||
| Q2 24 | -5.1% | -21.6% | ||
| Q1 24 | -4.9% | -178.4% |
| Q4 25 | — | — | ||
| Q3 25 | $-0.20 | — | ||
| Q2 25 | $-0.20 | — | ||
| Q1 25 | — | — | ||
| 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 | $4.7M | $74.6M |
| Total DebtLower is stronger | — | $570.2M |
| Stockholders' EquityBook value | $-38.9M | $4.0M |
| Total Assets | $280.6M | $897.6M |
| Debt / EquityLower = less leverage | — | 142.97× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $74.6M | ||
| Q3 25 | $4.7M | $100.5M | ||
| Q2 25 | $1.4M | $127.8M | ||
| Q1 25 | — | $100.8M | ||
| Q4 24 | $3.3M | $97.9M | ||
| Q3 24 | $1.8M | $122.7M | ||
| Q2 24 | $1.3M | $142.0M | ||
| Q1 24 | $3.0M | $136.3M |
| Q4 25 | — | $570.2M | ||
| Q3 25 | — | $571.2M | ||
| Q2 25 | — | $572.2M | ||
| Q1 25 | — | $573.3M | ||
| Q4 24 | — | $574.3M | ||
| Q3 24 | — | $575.4M | ||
| Q2 24 | — | $576.4M | ||
| Q1 24 | — | $577.5M |
| Q4 25 | — | $4.0M | ||
| Q3 25 | $-38.9M | $42.5M | ||
| Q2 25 | $-13.9M | $62.6M | ||
| Q1 25 | — | $93.8M | ||
| Q4 24 | $3.7M | $120.5M | ||
| Q3 24 | $9.6M | $141.4M | ||
| Q2 24 | $21.9M | $182.1M | ||
| Q1 24 | $27.2M | $205.6M |
| Q4 25 | — | $897.6M | ||
| Q3 25 | $280.6M | $969.4M | ||
| Q2 25 | $319.4M | $1.0B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $340.5M | $1.1B | ||
| Q3 24 | $346.3M | $1.1B | ||
| Q2 24 | $360.4M | $1.2B | ||
| Q1 24 | $368.1M | $1.3B |
| Q4 25 | — | 142.97× | ||
| Q3 25 | — | 13.45× | ||
| Q2 25 | — | 9.13× | ||
| Q1 25 | — | 6.11× | ||
| Q4 24 | — | 4.77× | ||
| Q3 24 | — | 4.07× | ||
| Q2 24 | — | 3.16× | ||
| Q1 24 | — | 2.81× |
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 | $-18.9M |
| Free Cash FlowOCF − Capex | $-2.8M | $-19.3M |
| FCF MarginFCF / Revenue | -2.3% | -15.0% |
| Capex IntensityCapex / Revenue | 5.8% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.5M | $10.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-18.9M | ||
| Q3 25 | $4.3M | $-17.8M | ||
| Q2 25 | $4.0M | $31.3M | ||
| Q1 25 | — | $17.8M | ||
| Q4 24 | $5.8M | $8.7M | ||
| Q3 24 | $4.7M | $-11.4M | ||
| Q2 24 | $7.0M | $14.9M | ||
| Q1 24 | $164.0K | $11.5M |
| Q4 25 | — | $-19.3M | ||
| Q3 25 | $-2.8M | $-18.5M | ||
| Q2 25 | $1.1M | $30.8M | ||
| Q1 25 | — | $17.0M | ||
| Q4 24 | $-1.3M | $8.3M | ||
| Q3 24 | $-4.5M | $-11.7M | ||
| Q2 24 | $-1.6M | $14.8M | ||
| Q1 24 | $-15.2M | $11.1M |
| Q4 25 | — | -15.0% | ||
| Q3 25 | -2.3% | -14.3% | ||
| Q2 25 | 0.9% | 24.8% | ||
| Q1 25 | — | 12.7% | ||
| Q4 24 | -1.1% | 6.0% | ||
| Q3 24 | -3.5% | -8.8% | ||
| Q2 24 | -1.4% | 11.6% | ||
| Q1 24 | -12.2% | 8.0% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | 5.8% | 0.5% | ||
| Q2 25 | 2.4% | 0.4% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | 5.8% | 0.3% | ||
| Q3 24 | 7.2% | 0.2% | ||
| Q2 24 | 7.1% | 0.1% | ||
| Q1 24 | 12.3% | 0.3% |
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% |
SKIL
| SAAS And Subscription Services | $93.5M | 73% |
| Virtual Ondemand And Classroom And Individualized Coaching | $28.2M | 22% |
| Professional Services | $7.3M | 6% |
