What was the 'Loss from operations' for Noodles & Company for the fiscal year ended December 31, 2024?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
-
| (148,244) |
| Total stockholders' (deficit) equity | (5,579) | 27,160 | | Total liabilities and stockholders' equity | $ 324,648 | $ 368,095 |
Noodles & Company Consolidated Statements of Operations (in thousands, except share and per share data)
| Fiscal Year Ended | |||||
|---|---|---|---|---|---|
| December 31, 2024 | January 2, 2024 | January 3, 2023 | |||
| Revenue: | |||||
| Restaurant revenue | $ 483,097 | $ | 492,648 | $ | 498,359 |
| Franchising royalties and fees, and other | 10,174 | 10,757 | 11,121 | ||
| Total revenue | 493,271 | 503,405 | 509,480 | ||
| Costs and expenses: | |||||
| Restaurant operating costs (exclusive of depreciation and amortization shown | |||||
| separately below): | |||||
| 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 costs and expenses | 521,049 | 508,434 | 510,312 | ||
| Loss from operations | (27,778) | (5,029) | (832) | ||
| Interest expense, net | 8,381 | 4,803 | 2,445 | ||
| Loss before income taxes | (36,159) | (9,832) | (3,277) | ||
| Provision for income taxes | 54 | 24 | 37 | ||
| Net loss | $ (36,213) $ | (9,856) $ | (3,314) | ||
| Loss per Class A and Class B common stock, combined | |||||
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the loss from operations for the fiscal year ended December 31, 2024, was $27,778. This figure reflects the difference between the total revenue of $493,271 and the total costs and expenses of $521,049 for that period.
This loss from operations indicates that Noodles & Company's expenses exceeded its revenue during this fiscal year. Prospective franchisees should consider this financial performance when evaluating the overall health and potential profitability of the franchise system. It is important to note that this is a consolidated figure, reflecting the performance of both company-owned and franchised locations.
Understanding the reasons behind this loss, such as increased operating costs or decreased revenue, is crucial for potential franchisees. Further investigation into the specific factors contributing to the loss from operations can provide a more comprehensive understanding of the financial risks and opportunities associated with investing in a Noodles & Company franchise. It would be prudent to compare these figures with previous years to identify trends and assess the company's strategies for improving profitability.
It is also important to consider that while the loss from operations was $27,778 for the fiscal year ended December 31, 2024, the net loss was $(36,213). This difference is due to other financial factors such as interest expense and income taxes. A prospective franchisee should consult with a financial advisor to fully understand the implications of these financial results.