Are the Noodles & Company financial statements audited?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 21: FINANCIAL STATEMENTS]
ITEM 21 FINANCIAL STATEMENTS
The following consolidated financial statements of Noodles & Company are attached to this disclosure document as Exhibit F: Audited consolidated balance sheets of Noodles & Company as of December 31, 2024 and January 2, 2024 and the related consolidated statements of operations, stockholders' equity and cash flows for each of the three years ended December 31, 2024, January 2, 2024, and January 3, 2023. [Item 22: CONTRACTS]
EXHIBIT F TO THE FRANCHISE DISCLOSURE DOCUMENT FINANCIAL STATEMENTS
Report of Independent Registered Public Accounting Firm
To the Shareholders and the Board of Directors of Noodles & Company
Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of Noodles & Company (the Company) as of December 31, 2024 and January 2, 2024, the related consolidated statements of operations, stockholders' equity (deficit) and cash flows for each of the three years in the period ended December 31, 2024, and the related notes (collectively referred to as the "consolidated financial statements"). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 and January 2, 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 97–98)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the company's consolidated financial statements are indeed audited. Item 21 explicitly states that the audited consolidated balance sheets as of December 31, 2024, and January 2, 2024, along with related statements of operations, stockholders' equity, and cash flows for the three years ending December 31, 2024, January 2, 2024, and January 3, 2023, are included as Exhibit F to the FDD.
Furthermore, the Report of Independent Registered Public Accounting Firm included in Exhibit F confirms that Noodles & Company's financial statements have been audited. The report expresses an opinion that the financial statements present fairly the company's financial position as of December 31, 2024, and January 2, 2024, and the results of its operations and cash flows for the three years ending December 31, 2024, in conformity with U.S. generally accepted accounting principles.
The inclusion of audited financial statements provides prospective franchisees with a higher level of confidence in the financial information presented by Noodles & Company. Audited statements have been reviewed by an independent accounting firm, adding credibility to the data. This allows potential franchisees to make more informed decisions about investing in a Noodles & Company franchise.