What were the total assets for Noodles & Company in 2023 (in thousands)?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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) $ | (5,029) $ | (832) | |
| Reconciliation: | ||||
| Interest expense, net | 8,381 | 4,803 | 2,445 | |
| Consolidated loss before income taxes | $ (36,159) $ December 31, 2024 | (9,832) $ |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the company's consolidated balance sheets provide financial data in thousands of dollars. In 2023, the total assets for Noodles & Company were $368,095 (in thousands).
This figure represents the sum of all resources owned by Noodles & Company as of January 2, 2024. Total assets include items such as cash, accounts receivable, inventory, property, equipment, and intangible assets. This number is a key indicator of the company's financial health and stability.
A prospective franchisee can use this information to assess the financial strength of Noodles & Company. Comparing asset values across multiple years can reveal trends in the company's growth and investment strategies. It is important to note that while a higher asset value generally indicates a stronger financial position, it should be evaluated in conjunction with liabilities and equity to get a complete picture of the company's financial standing.