What was the total segment expenses for Noodles & Company in 2022 (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 total segment expenses for the company in 2022 were $510,312 (in thousands). This figure represents the sum of various costs, including the cost of sales, labor, occupancy, other restaurant operating costs, general and administrative expenses, depreciation and amortization, pre-opening expenses, and restaurant impairments, closure costs, and asset disposals.
Understanding the components of these expenses is crucial for prospective franchisees. For instance, the cost of sales reflects the direct costs associated with ingredients and supplies, while labor represents the wages and benefits paid to employees. Occupancy costs cover rent, utilities, and property taxes, and other restaurant operating costs encompass items like marketing and maintenance. General and administrative expenses include corporate overhead, and depreciation and amortization account for the wear and tear on assets. Pre-opening expenses are incurred when setting up new locations, and restaurant impairments, closure costs, and asset disposals reflect losses from underperforming or closed restaurants.
Analyzing these expenses in relation to the total segment revenue provides insights into the profitability and efficiency of Noodles & Company's operations. In 2022, the total segment revenue was $509,480 (in thousands), while the total segment expenses were $510,312 (in thousands), resulting in a segment loss from operations of $832 (in thousands). This information is valuable for potential franchisees to assess the financial health of the company and the potential return on investment.
It's important to note that these figures are based on Noodles & Company's consolidated financial statements, which include both company-owned and franchise locations. Franchisees should conduct their own due diligence and consult with financial advisors to understand how these expenses may vary for individual franchise locations and to develop realistic financial projections.