NOODLES & Co (NDLS) Financial Statements
Industry: Eating Places (Retail)
In fiscal 2025, NOODLES reported revenue of $495.1M, up 0.4% from $493.3M the year before. Net income was -$42.6M (a -8.6% net margin), or -$7.36 per diluted share. Gross margin was -6.4% and operating margin was -6.4%. Operating activities generated $7.3M of cash, leaving -$5.1M of free cash flow. At fiscal year end, NOODLES held $261.7M in total assets against $307.0M in total liabilities, including $1.3M of cash and equivalents.
Open the full interactive NOODLES financials → Quarterly statements, key ratios, valuation history and price charts.
NOODLES Key Stats
| Share Price | $14.40 |
|---|---|
| Market Cap | $85.4M |
| Revenue YoY Growth | +0.4% |
| 52-Week Range | $3.90 – $18.62 |
| Shares Outstanding | 5.9 million (basic, 2026 Q2) |
NOODLES Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $393.7M | $475.2M | $509.5M | $503.4M | $493.3M | $495.1M |
| Cost of Goods Sold | $413.7M | $469.3M | $510.3M | $508.4M | $521.0M | $526.7M |
| Gross Profit | -$20.0M | $5.8M | -$832,000 | -$5.0M | -$27.8M | -$31.6M |
| Operating Income | -$20.0M | $5.8M | -$832,000 | -$5.0M | -$27.8M | -$31.6M |
| Pre-Tax Income | -$23.2M | $3.7M | -$3.3M | -$9.8M | -$36.2M | -$42.5M |
| Income Tax | $84,000 | $70,000 | $37,000 | $24,000 | $54,000 | $64,000 |
| Net Income | -$23.3M | $3.7M | -$3.3M | -$9.9M | -$36.2M | -$42.6M |
| Diluted EPS | -$4.24 | $0.64 | -$0.56 | -$1.68 | -$6.40 | -$7.36 |
NOODLES Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $122.1M | $122.8M | $123.8M | $127.0M |
| Net Income | -$9.2M | -$6.8M | -$3.4M | -$4.0M |
| Diluted EPS | -$1.60 | -$1.18 | -$0.58 | -$0.67 |
NOODLES Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.8M | $2.3M | $1.5M | $3.0M | $1.1M | $1.3M |
| Current Assets | $23.7M | $22.6M | $21.6M | $22.6M | $20.2M | $18.9M |
| Total Assets | $353.6M | $341.5M | $343.8M | $368.1M | $324.6M | $261.7M |
| Current Liabilities | $58.1M | $76.6M | $64.1M | $67.5M | $65.7M | $61.8M |
| Total Long-Term Debt | $42.1M | $21.0M | $46.1M | $80.2M | $100.7M | $108.8M |
| Total Liabilities | $323.9M | $303.8M | $305.5M | $340.9M | $330.2M | $307.0M |
| Shareholders' Equity | $29.7M | $37.6M | $38.4M | $27.2M | -$5.6M | -$45.3M |
NOODLES Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $9.1M | $36.2M | $9.6M | $27.5M | $7.6M | $7.3M |
| Cash From Investing | -$10.9M | -$18.4M | -$32.3M | -$51.8M | -$26.7M | -$12.4M |
| Cash From Financing | -$798,000 | -$23.4M | $22.0M | $25.8M | $17.3M | $5.2M |
| Free Cash Flow | -$2.7M | $17.4M | -$24.3M | -$24.5M | -$21.2M | -$5.1M |
Figures from NOODLES's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full NOODLES financials page for every line item.
NOODLES Company Profile
| Ticker | NDLS |
|---|---|
| Exchange | Nasdaq |
| Industry | Eating Places (Retail) |
| Headquarters | Broomfield, Colorado |
| Fiscal Year End | December 29 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001275158 |
Frequently Asked Questions
What was NOODLES's revenue in fiscal 2025?
NOODLES (NDLS) reported revenue of $495.1M for fiscal 2025.
What is NOODLES's annual revenue history?
NOODLES's annual revenue by fiscal year: 2020: $393.7M; 2021: $475.2M; 2022: $509.5M; 2023: $503.4M; 2024: $493.3M; 2025: $495.1M.
What was NOODLES's net income in fiscal 2025?
NOODLES reported net income of -$42.6M for fiscal 2025.
What was NOODLES's earnings per share (EPS) in fiscal 2025?
NOODLES's diluted EPS was -$7.36 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did NOODLES generate in fiscal 2025?
NOODLES generated -$5.1M of free cash flow in fiscal 2025.
What was NOODLES's revenue last quarter?
In its most recent reported quarter (2026 Q2), NOODLES reported revenue of $127.0M.
How much debt does NOODLES have?
NOODLES reported $108.8M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of NOODLES are outstanding?
NOODLES reported a weighted average of 5.9 million basic shares outstanding in 2026 Q2.
What is NOODLES's market cap?
Based on its latest closing price, NOODLES (NDLS) has a market capitalization of about $85.4M.
When does NOODLES's fiscal year end?
NOODLES's fiscal year end, as registered with the SEC, is December 29.
Where is NOODLES headquartered?
NOODLES lists its business address in Broomfield, Colorado in its SEC filings.