According to Noodles & Company's 2025 Franchise Disclosure Document, on December 28, 2021, the company had 2,423,871 treasury shares, which amounted to $(35,000). This indicates that Noodles & Company had repurchased its own shares, resulting in a reduction of stockholders' equity by $35,000.

For a prospective franchisee, understanding the company's equity and share structure can provide insights into its financial management and stability. Treasury shares are shares that a company has bought back from the open market, and they do not have voting rights or receive dividends. The value of treasury shares can fluctuate based on the company's financial performance and market conditions.

The presence of treasury shares can be a strategic financial tool for Noodles & Company, allowing them to manage earnings per share, have shares available for employee stock options, or prevent hostile takeovers. However, it also represents a reduction in the company's cash reserves, as funds were used to repurchase the shares.

Therefore, a potential franchisee should consider these figures as part of a broader assessment of Noodles & Company's financial health, alongside other factors such as revenue, expenses, and overall equity trends. This information, combined with other financial metrics, can help in evaluating the financial risks and opportunities associated with investing in a Noodles & Company franchise.