What was the net loss for Noodles & Company for the period ending 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 company experienced a net loss of $3,314 for the fiscal year ended January 3, 2023. This net loss is part of a broader financial overview that includes revenue, costs, and expenses for that fiscal year. The document also provides figures for the fiscal years ended December 31, 2024, and January 2, 2024, allowing for a comparative analysis of Noodles & Company's financial performance over three years.
Specifically, the net loss of $3,314 is a critical figure for prospective franchisees to consider. It reflects the overall profitability of Noodles & Company during that period. When viewed alongside other financial data, such as restaurant revenue of $498,359 and total revenue of $509,480 for the same period, potential franchisees can assess the efficiency and effectiveness of the company's operations. Understanding the components contributing to the net loss, such as cost of sales ($137,859), labor ($155,023), and other operating costs, is essential for evaluating the financial health of the franchise.
Furthermore, the FDD provides additional context by including various adjustments to reconcile the net loss to net cash provided by operating activities. These adjustments include depreciation and amortization, deferred income taxes, restaurant impairments, and other factors. Analyzing these adjustments can provide a more nuanced understanding of the company's cash flow and financial stability. For instance, depreciation and amortization amounted to $23,268, while restaurant impairments and closure costs totaled $2,261 for the fiscal year ended January 3, 2023. These figures offer insights into the non-cash expenses and potential challenges Noodles & Company faced during that period.
In summary, the net loss of $3,314 for the fiscal year ended January 3, 2023, is a key financial indicator for prospective Noodles & Company franchisees. It should be evaluated in conjunction with other financial data presented in the FDD, such as revenue, expenses, and cash flow adjustments, to gain a comprehensive understanding of the company's financial performance and potential risks and opportunities.