What was the interest expense, net for Noodles & Company in 2023 (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 2023 was $4,803,000. This figure is derived from the consolidated statements of operations, which provides a summary of the company's financial performance over the past three fiscal years. This includes revenue, expenses, and other key financial metrics.
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. A higher interest expense can reduce net income, which may affect the company's ability to invest in growth or provide support to its franchisees. Conversely, a lower interest expense can improve profitability and financial stability.
It's important to note that this figure represents the interest expense for the entire Noodles & Company system, including both company-owned and franchised locations. Franchisees should consider this information in conjunction with other financial data, such as revenue and expenses, to assess the overall financial health of the company and the potential return on investment for their own franchise. Additionally, prospective franchisees should inquire about any factors that may influence future interest expenses, such as changes in debt levels or interest rates.