NDLS

MKT CAP:$66M

Noodles & Company

Market Cap

$66M

Consumer Cyclical·Restaurants·🇺🇸 United States·NASDAQ

Consumer Cyc.·Restaurants·🇺🇸·NASDAQ

Stock Price

$9.88+$3.95 (+66.61%)

Apr 23, 2026

Company Details

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. As of December 28, 2021, the company operated 448 ...

CEO

Joseph D. Christina

IPO Date

Jun 28, 2013

Website

www.noodles.com

Key Metrics TTM

Revenue

$495M

+0.4% YoY

Net Income

-$43M

EPS (Diluted)

-$7.40

Free Cash Flow

-$5M

Revenue / Share

$84.65

Gross Margin

8.9%

Operating Margin

-1.0%

Net Margin

-8.6%

FCF Margin

-1.0%

P/S

0.1x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Mar 25, 2026

$495M+0.4%EPS -$7.36

Q4 2025

Mar 25, 2026

$123M+0.8%EPS -$1.16

Q3 2025

Nov 5, 2025

$122M-0.5%EPS -$1.60

Q2 2025

Aug 13, 2025

$126M-0.7%EPS -$3.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$113M	$13M	-$6M
Q2 22	$131M	$23M	$2M
Q3 22	$129M	$21M	$2M
Q4 22	$136M	$23M	$2M
Q1 23	$126M	$20M	-$2M
Q2 23	$125M	$21M	-$280.0K
Q3 23	$128M	$23M	$2M
Q4 23	$124M	$20M	-$5M
Q1 24	$121M	$18M	-$4M
Q2 24	$127M	$22M	-$12M
Q3 24	$123M	$18M	-$5M
Q4 24	$122M	$16M	-$7M
Q1 25	$124M	$41M	-$6M
Q2 25	$126M	$43M	-$15M
Q3 25	$122M	$43M	-$6M
Q4 25	$123M	-$82M	$22M

Valuation

Quarter	P/S	P/E
Q1 22	4.3x	—
Q2 22	3.8x	—
Q3 22	3.5x	—
Q4 22	4.1x	—
Q1 23	3.5x	—
Q2 23	2.4x	—
Q3 23	1.6x	—
Q4 23	2.2x	—
Q1 24	1.3x	—
Q2 24	1.2x	—
Q3 24	0.9x	—
Q4 24	0.4x	—
Q1 25	0.8x	—
Q2 25	0.5x	—
Q3 25	0.5x	—
Q4 25	0.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$6M	-$14M
Q2 22	$12M	$4M
Q3 22	$2M	-$4M
Q4 22	$2M	-$10M
Q1 23	$7M	-$3M
Q2 23	$3M	-$10M
Q3 23	$17M	$4M
Q4 23	$164.0K	-$15M
Q1 24	$7M	-$2M
Q2 24	$5M	-$4M
Q3 24	$6M	-$1M
Q4 24	-$10M	-$14M
Q1 25	$4M	$1M
Q2 25	-$852.0K	-$4M
Q3 25	$5M	$1M
Q4 25	-$1M	-$3M

Capital Expenditures

Quarter	CapEx
Q1 22	$8M
Q2 22	$8M
Q3 22	$6M
Q4 22	$11M
Q1 23	$10M
Q2 23	$13M
Q3 23	$13M
Q4 23	$15M
Q1 24	$9M
Q2 24	$9M
Q3 24	$7M
Q4 24	$4M
Q1 25	$3M
Q2 25	$3M
Q3 25	$4M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+2.7%	+6.9%
Q2 22	+4.3%	+8.2%
Q3 22	+3.4%	+6.7%
Q4 22	+18.9%	+13.0%
Q1 23	+12.0%	+8.1%
Q2 23	-4.5%	-2.9%
Q3 23	-1.2%	-1.6%
Q4 23	-8.9%	-4.3%
Q1 24	-3.7%	-2.2%
Q2 24	+1.8%	+10.7%
Q3 24	-4.0%	+1.4%
Q4 24	-2.0%	+0.2%
Q1 25	+2.0%	+3.7%
Q2 25	-0.7%	+1.7%
Q3 25	-0.5%	+0.7%
Q4 25	+0.8%	-22.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$1M	1.0%
Q2 22	$1M	1.1%
Q3 22	$751.0K	0.6%
Q4 22	$974.0K	0.7%
Q1 23	$1M	1.0%
Q2 23	$1M	1.2%
Q3 23	$694.0K	0.5%
Q4 23	$763.0K	0.6%
Q1 24	$1M	1.0%
Q2 24	$1M	1.1%
Q3 24	$810.0K	0.7%
Q4 24	$333.0K	0.3%
Q1 25	$790.0K	0.6%
Q2 25	$732.0K	0.6%
Q3 25	$1M	0.9%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 22	$12M
Q2 22	$13M
Q3 22	$12M
Q4 22	$14M
Q1 23	$14M
Q2 23	$12M
Q3 23	$12M
Q4 23	$14M
Q1 24	$13M
Q2 24	$14M
Q3 24	$13M
Q4 24	$11M
Q1 25	$13M
Q2 25	$12M
Q3 25	$12M
Q4 25	$12M

Revenue Segments

Quarter	Food and Beverage	Franchise
Q1 22	$110M	$3M
Q2 22	$128M	$3M
Q3 22	$127M	$3M
Q1 23	$123M	$3M
Q2 23	$122M	$3M
Q3 23	$125M	$3M
Q1 24	$119M	$2M
Q2 24	$125M	$3M
Q3 24	$120M	$3M
Q1 25	$121M	$2M
Q2 25	$124M	$3M
Q3 25	$120M	$3M
Q4 25	$120M	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2M	$0	$2M
Q2 22	$2M	$0	$2M
Q3 22	$2M	$0	$2M
Q4 22	$2M	$0	$2M
Q1 23	$2M	$0	$2M
Q2 23	$3M	$0	$3M
Q3 23	$3M	$0	$3M
Q4 23	$3M	$0	$3M
Q1 24	$1M	$0	$1M
Q2 24	$2M	$0	$2M
Q3 24	$3M	$0	$3M
Q4 24	$1M	$0	$1M
Q1 25	$1M	$0	$1M
Q2 25	$2M	$0	$2M
Q3 25	$5M	$0	$5M
Q4 25	$1M	$0	$1M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	6M	+0.1%	+1.4%
Q2 22	6M	+0.8%	-0.3%
Q3 22	6M	+0.2%	-0.4%
Q4 22	6M	+0.4%	+1.5%
Q1 23	6M	-0.6%	+0.9%
Q2 23	6M	+0.5%	+0.6%
Q3 23	6M	-0.8%	-0.4%
Q4 23	6M	-2.3%	-3.1%
Q1 24	6M	+0.3%	-2.2%
Q2 24	6M	+0.8%	-2.0%
Q3 24	6M	+0.4%	-0.8%
Q4 24	6M	-0.4%	+1.1%
Q1 25	6M	+0.7%	+1.6%
Q2 25	6M	+0.8%	+1.6%
Q3 25	6M	+0.6%	+1.8%
Q4 25	6M	+0.7%	+2.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$14.1K	8K
Q2 22	$16.4K	8K
Q3 22	$16.2K	8K
Q4 22	$17.1K	8K
Q1 23	$15.6K	8K
Q2 23	$15.5K	8K
Q3 23	$15.8K	8K
Q4 23	$15.3K	8K
Q1 24	$16.0K	8K
Q2 24	$16.8K	8K
Q3 24	$16.2K	8K
Q4 24	$16.7K	7K
Q1 25	$17.0K	7K
Q2 25	$17.3K	7K
Q3 25	$16.7K	7K
Q4 25	$18.9K	7K

Revenue / Employee