What was the interest expense, net for Noodles & Company in 2022 (in thousands)?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
from operations to evaluate performance and make key operating decisions, such as deciding the rate at which we invest resources into the segment.
The following table presents selected financial information with respect to our single reportable segment regularly reviewed by our CODM for 2024, 2023 and 2022 (in thousands):
| 2024 | 2023 | 2022 | ||
|---|---|---|---|---|
| Revenue: | ||||
| Restaurant revenue | $ 483,097 | $ | 492,648 | $ 498,359 |
| Franchising royalties and fees, and other | 10,174 | 10,757 | 11,121 | |
| Total segment revenue | 493,271 | 503,405 | 509,480 | |
| Less: | ||||
| Cost of sales | 123,692 | 124,102 | 137,859 | |
| Labor | 154,258 | 157,608 | 155,023 | |
| Occupancy | 46,366 | 45,925 | 45,213 | |
| Other restaurant operating costs | 95,032 | 91,559 | 91,220 | |
| General and administrative | 50,824 | 51,833 | 49,903 | |
| Depreciation and amortization | 29,066 | 26,792 | 23,268 | |
| Pre-opening | 1,543 | 2,215 | 1,662 | |
| Restaurant impairments, closure costs and asset disposals | 20,268 | 8,400 | 6,164 | |
| Total segment expenses | 521,049 | 508,434 | 510,312 | |
| Segment loss from operations | $ (27,778) $ | (5, |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the interest expense, net for 2022 was $2,445,000. This figure is derived from the consolidated statements of operations, which outlines the company's financial performance over the past three fiscal years.
For a prospective franchisee, understanding the interest expense is crucial as it reflects the cost of borrowing and can impact the overall profitability of Noodles & Company. Monitoring this expense over time, as presented in the FDD, can provide insights into the company's financial leverage and its ability to manage debt. A lower interest expense generally indicates better financial health, as it suggests that the company is either carrying less debt or has secured favorable interest rates.
It's important to note that this figure represents the net interest expense, meaning it accounts for any interest income that Noodles & Company may have earned. Franchisees should consider this information in conjunction with other financial metrics to assess the company's financial stability and growth potential. Reviewing the trends in interest expense alongside revenue and other operating costs can offer a comprehensive view of the company's financial management and its impact on profitability.