What was the net loss for Noodles & Company for the fiscal year ended January 3, 2023?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
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| (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 net loss for the fiscal year ended January 3, 2023, was approximately $3.314 million. This figure represents the company's financial performance for that specific year, reflecting the difference between total revenues and total expenses.
For a prospective franchisee, understanding the company's historical net losses is crucial for assessing the financial stability and potential profitability of the franchise system. While a net loss doesn't necessarily indicate a failing business, it's important to investigate the reasons behind the loss and whether the company has strategies in place to improve its financial performance. Factors contributing to the net loss could include increased operating costs, investments in expansion, or changes in consumer behavior.
It's also worth noting that the fiscal year ended January 3, 2023, contained 53 weeks, whereas the fiscal years 2024 and 2023 contained 52 weeks. This difference in the number of weeks could potentially impact the comparability of financial results across these periods. A prospective franchisee should consider these factors and conduct thorough due diligence, including reviewing the company's financial statements and seeking professional advice, to make an informed investment decision.