PART I - Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited financial statements reflect a Q2 2025 net loss of $17.6 million amid rising operating costs and impairment charges Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | July 1, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $2,264 | $1,149 | | Total current assets | $21,266 | $20,192 | | Property and equipment, net | $122,936 | $137,237 | | Total assets | $294,575 | $324,648 | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $68,372 | $65,717 | | Long-term debt, net | $106,441 | $100,742 | | Total liabilities | $325,350 | $330,227 | | Total stockholders' deficit | ($30,775) | ($5,579) | - Total assets decreased from **$324.6 million** at year-end 2024 to **$294.6 million** as of July 1, 2025, while the company's stockholders' deficit widened significantly from **$5.6 million** to **$30.8 million**[13](index=13&type=chunk) Q2 2025 vs Q2 2024 Statement of Operations (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total revenue | $126,433 | $127,352 | | Total costs and expenses | $141,211 | $138,870 | | Loss from operations | ($14,778) | ($11,518) | | Net loss | ($17,552) | ($13,625) | | Basic and diluted loss per share | ($0.38) | ($0.30) | First Half 2025 vs First Half 2024 Statement of Operations (in thousands, except per share data) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Total revenue | $250,227 | $248,746 | | Total costs and expenses | $271,392 | $264,360 | | Loss from operations | ($21,165) | ($15,614) | | Net loss | ($26,609) | ($19,765) | | Basic and diluted loss per share | ($0.58) | ($0.44) | - The company's net loss widened to **$17.6 million** in Q2 2025 from **$13.6 million** in Q2 2024, driven by higher costs and expenses, particularly restaurant impairments and closure costs[15](index=15&type=chunk) - The total stockholders' deficit increased from **$5.6 million** at the end of 2024 to **$30.8 million** as of July 1, 2025, primarily driven by the **net loss of $26.6 million** incurred during the first half of 2025[18](index=18&type=chunk) Cash Flow Summary for the Two Fiscal Quarters Ended (in thousands) | Cash Flow Activity | July 1, 2025 | July 2, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $3,181 | $11,728 | | Net cash used in investing activities | ($6,318) | ($15,774) | | Net cash provided by financing activities | $4,252 | $2,839 | | **Net increase (decrease) in cash** | **$1,115** | **($1,207)** | - Cash provided by operating activities significantly decreased to **$3.2 million** in the first half of 2025 from **$11.7 million** in the same period of 2024[23](index=23&type=chunk) - As of July 1, 2025, the company operated **453 restaurants** system-wide, consisting of 364 company-owned and 89 franchise locations[26](index=26&type=chunk) - The company had **$108.3 million** of indebtedness outstanding under its A&R Credit Agreement as of July 1, 2025, with interest rates ranging from **8.07% to 10.25%** during the first half of the year[36](index=36&type=chunk)[37](index=37&type=chunk) - In Q2 2025, the company recorded **$11.9 million** in restaurant impairment charges on 15 restaurants, an increase from the **$10.9 million** impairment on 12 restaurants in Q2 2024[47](index=47&type=chunk)[49](index=49&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Comparable restaurant sales grew 1.5% in Q2 2025, but profitability declined due to higher costs and impairment charges - System-wide comparable restaurant sales increased **1.5%** in Q2 2025, with a **1.5%** increase at company-owned and **1.6%** at franchise-owned restaurants[71](index=71&type=chunk) - The company is responding to macroeconomic uncertainty with a comprehensive menu upgrade, increased marketing, and plans for new value offerings[72](index=72&type=chunk) - The company permanently closed nine company-owned restaurants in the first half of 2025 and anticipates closing an additional **19 to 23 restaurants** during the remainder of the year[77](index=77&type=chunk) - The company uses key metrics including revenue, comparable restaurant sales, average unit volumes (AUVs), and adjusted EBITDA to evaluate performance[78](index=78&type=chunk) - Comparable restaurant sales are a key metric, defined as year-over-year sales comparisons for restaurants open at least 18 full periods[81](index=81&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Net loss | $(17,552) | $(13,625) | $(26,609) | $(19,765) | | EBITDA | $(7,639) | $(4,151) | $(6,936) | $(877) | | Adjusted EBITDA | $6,016 | $9,195 | $8,420 | $14,695 | Restaurant Contribution Margin | Period | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Restaurant Contribution Margin | 12.8% | 15.5% | 11.6% | 14.4% | - In Q2 2025, total revenue decreased slightly by **0.7%** to **$126.4 million**, while net loss increased by **28.8%** to **$17.6 million** compared to Q2 2024[100](index=100&type=chunk)[101](index=101&type=chunk) - For the first half of 2025, total revenue increased by **0.6%** to **$250.2 million**, while net loss widened by **34.6%** to **$26.6 million** compared to the same period in 2024[113](index=113&type=chunk)[114](index=114&type=chunk) - The company believes it has sufficient cash sources for at least the next twelve months from available cash, its revolving credit facility, and cash flows from operations[125](index=125&type=chunk) - Net cash from operating activities decreased to **$3.2 million** in H1 2025 from **$11.7 million** in H1 2024, primarily due to lower net income adjusted for non-cash items[126](index=126&type=chunk)[127](index=127&type=chunk) - Capital expenditures for fiscal year 2025 are estimated to be between **$12.0 million** and **$13.0 million**[133](index=133&type=chunk) - As of July 1, 2025, the company had a cash balance of **$2.3 million** and **$13.7 million** available for future borrowings under its A&R Credit Agreement[135](index=135&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is exposed to market risks from interest rate fluctuations, commodity volatility, and inflation - The company is exposed to interest rate risk on its **$108.3 million** of outstanding variable-rate debt; a **1.0%** change in the effective interest rate would result in an annualized pre-tax interest expense fluctuation of approximately **$1.1 million**[141](index=141&type=chunk) - The company faces commodity price risk for products like food and uses purchasing contracts to manage this risk[142](index=142&type=chunk) - Inflationary factors affecting operations include food, labor, and energy costs, and the company anticipates that inflation may continue to affect its results[143](index=143&type=chunk) [Item 4. Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of July 1, 2025[145](index=145&type=chunk) - No changes occurred during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[146](index=146&type=chunk) PART II - Other Information [Item 1. Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - As of the report date, the company is not a party to any material legal proceedings[148](index=148&type=chunk) [Item 1A. Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks from potential Nasdaq delisting and more restrictive future debt covenants - On June 24, 2025, the company received a notice from Nasdaq for non-compliance with the minimum **$1.00 bid price requirement**, giving it 180 days to regain compliance[151](index=151&type=chunk) - Failure to regain compliance with Nasdaq's listing requirements could result in **delisting**, leading to reduced liquidity and difficulty in obtaining future financing[154](index=154&type=chunk) - The company's credit facility covenants become more restrictive beginning in Q4 2025, and non-compliance could trigger **default and debt acceleration**[159](index=159&type=chunk)[160](index=160&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None[162](index=162&type=chunk) [Item 3. Defaults Upon Senior Securities](index=39&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[163](index=163&type=chunk) [Item 4. Mine Safety Disclosures](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[164](index=164&type=chunk) [Item 5. Other Information](index=39&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading arrangements during the quarter - No director or officer adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter[165](index=165&type=chunk) [Item 6. Exhibits](index=41&type=section&id=Item%206.%20Exhibits) This section provides an index of exhibits filed with the Form 10-Q

[Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) Noodles & Company's Q2 2025 saw revenue decline, increased net loss, and revised full-year guidance amidst strategic shifts [Q2 2025 Financial Highlights](index=1&type=section&id=Q2%202025%20Financial%20Highlights) Q2 2025 saw a slight revenue decline to $126.4 million, increased net loss to $17.6 million, and reduced Adjusted EBITDA Q2 2025 vs. Q2 2024 Key Financial Metrics | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $126.4 million | $127.4 million | -0.7% | | Comparable Restaurant Sales | +1.5% | +2.0% | -0.5 p.p. | | Net Loss | $(17.6) million | $(13.6) million | Increased Loss | | Loss per Diluted Share | $(0.38) | $(0.30) | Increased Loss | | Restaurant Contribution Margin | 12.8% | 15.5% | -2.7 p.p. | | Adjusted EBITDA | $6.0 million | $9.2 million | -34.8% | - During the second quarter of 2025, the company opened one new company-owned restaurant while closing six company-owned and two franchise locations[5](index=5&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) CEO Drew Madsen discussed positive comparable sales despite a tough market, new value platform success, and his CEO transition - The company achieved **positive comparable restaurant sales of 1.5%** in Q2 despite a challenging consumer environment marked by heightened industry-wide promotions[3](index=3&type=chunk) - A new value-focused platform, "Delicious Duos," launched in early August has shown strong initial results, with comparable restaurant sales averaging a **5% increase** over the first two weeks[3](index=3&type=chunk) - CEO Drew Madsen is transitioning out of his role, with Joe Christina set to become the new CEO; Madsen will remain on the Board of Directors[3](index=3&type=chunk) [Liquidity and Financial Position](index=1&type=section&id=Liquidity%20and%20Financial%20Position) As of July 1, 2025, the company reported $2.3 million cash, $108.3 million debt, and $13.7 million available credit Liquidity Position as of July 1, 2025 | Metric | Amount | | :--- | :--- | | Cash and Cash Equivalents | $2.3 million | | Outstanding Debt | $108.3 million | | Available Revolving Credit | $13.7 million | [Full Year 2025 Business Outlook](index=1&type=section&id=Full%20Year%202025%20Business%20Outlook) Revised full-year 2025 guidance projects $487M-$495M revenue, 2.5%-4.0% comparable sales, and portfolio optimization Revised Full Year 2025 Guidance | Metric | Expected Range | | :--- | :--- | | Total Revenue | $487M - $495M | | Comparable Restaurant Sales Growth | 2.5% - 4.0% | | Restaurant Level Contribution Margins | 11.8% - 12.6% | | General & Administrative Expenses | $48M - $50M | | Capital Expenditures | $12M - $13M | - The company plans significant portfolio changes, with two new company-owned restaurant openings and **28 to 32 company-owned restaurant closures** expected in 2025[12](index=12&type=chunk) [Detailed Financial Statements](index=5&type=section&id=Detailed%20Financial%20Statements) This section presents Noodles & Company's condensed consolidated statements of operations, balance sheet, and operating data [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 revenue slightly decreased to $126.4 million, with operating loss widening to $14.8 million due to impairments Q2 Statement of Operations Summary (in thousands) | Line Item | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Revenue | $126,433 | $127,352 | | Total Costs and Expenses | $141,211 | $138,870 | | Loss from Operations | $(14,778) | $(11,518) | | Net Loss | $(17,552) | $(13,625) | | Loss per Share (Basic & Diluted) | $(0.38) | $(0.30) | - Restaurant impairments, closure costs, and asset disposals were a significant expense, totaling **$13.7 million** in Q2 2025, an increase from $12.1 million in Q2 2024[20](index=20&type=chunk) [Consolidated Balance Sheet and Operating Data](index=6&type=section&id=Consolidated%20Balance%20Sheet%20and%20Operating%20Data) As of July 1, 2025, total assets were $294.6M, liabilities $325.4M, and total restaurant count decreased to 453 Balance Sheet Summary (in thousands) | Metric | July 1, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Assets | $294,575 | $324,648 | | Total Liabilities | $325,350 | $330,227 | | Total Stockholders' Deficit | $(30,775) | $(5,579) | Restaurant Count Trend | Restaurant Type | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Company-owned | 364 | 379 | (15) | | Franchise | 89 | 94 | (5) | | **Total** | **453** | **473** | **(20)** | - System-wide comparable restaurant sales increased by **1.5%** in Q2 2025, a slowdown from the 4.4% growth seen in Q1 2025 but an improvement over the 1.3% for company-owned restaurants in Q2 2024[22](index=22&type=chunk) [Non-GAAP Financial Measures and Reconciliations](index=7&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) Reconciliation of GAAP net loss to non-GAAP measures (EBITDA, Adjusted Net Loss, Restaurant Contribution) and key definitions [Reconciliation of Net Loss to EBITDA and Adjusted EBITDA](index=7&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20EBITDA%20and%20Adjusted%20EBITDA) Q2 2025 GAAP Net Loss of $17.6 million reconciled to Adjusted EBITDA of $6.0 million, primarily adjusted for impairments Q2 EBITDA and Adjusted EBITDA Reconciliation (in thousands) | Line Item | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Loss | $(17,552) | $(13,625) | | EBITDA | $(7,639) | $(4,151) | | Adjustments (Impairments, Stock Comp, etc.) | $13,655 | $13,346 | | **Adjusted EBITDA** | **$6,016** | **$9,195** | - The largest adjustment to reconcile Net Loss to Adjusted EBITDA was restaurant impairments, which amounted to **$11.9 million** for the quarter[24](index=24&type=chunk) [Reconciliation of Net Loss to Adjusted Net Loss](index=8&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20Net%20Loss) Q2 2025 GAAP Net Loss of $17.6 million adjusted for special items, resulting in an Adjusted Net Loss of $5.4 million Q2 Adjusted Net Loss Reconciliation (in thousands, except per share) | Line Item | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Loss | $(17,552) | $(13,625) | | Adjustments (Impairments, etc.) | $12,131 | $11,177 | | **Adjusted Net Loss** | **$(5,421)** | **$(2,448)** | | Adjusted Loss per Share (Diluted) | $(0.12) | $(0.05) | [Reconciliation of Operating Loss to Restaurant Contribution](index=9&type=section&id=Reconciliation%20of%20Operating%20Loss%20to%20Restaurant%20Contribution) Q2 2025 operating loss of $14.8 million reconciled to Restaurant Contribution of $15.8 million, with a 12.8% margin Q2 Restaurant Contribution Reconciliation (in thousands) | Line Item | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Loss from Operations | $(14,778) | $(11,518) | | Adjustments (G&A, D&A, Impairments, etc.) | $30,613 | $30,903 | | **Restaurant Contribution** | **$15,835** | **$19,385** | | **Restaurant Contribution Margin** | **12.8%** | **15.5%** | [Key Definitions and Disclosures](index=2&type=section&id=Key%20Definitions%20and%20Disclosures) Definitions for AUV, Comparable Restaurant Sales, and Restaurant Contribution Margin, plus forward-looking statements disclaimer - Comparable Restaurant Sales are defined as year-over-year sales comparisons for restaurants open at least 18 full periods, generated by changes in traffic and per-person spend[9](index=9&type=chunk) - Restaurant Contribution Margin is a non-GAAP measure representing restaurant revenue less restaurant-level operating costs (cost of sales, labor, occupancy, other) as a percentage of restaurant revenue[10](index=10&type=chunk) - The report includes a forward-looking statements section that warns actual results may differ materially from projections due to various risks, including economic conditions, inflation, supply chain challenges, and labor costs[18](index=18&type=chunk)

Core Insights - Noodles & Company reported a net loss of $17.6 million for Q2 2025, compared to a net loss of $13.6 million in Q2 2024, indicating a decline in profitability [5][21][26] - Comparable restaurant sales increased by 1.5% system-wide, with a 1.5% increase at company-owned restaurants and a 1.6% increase at franchise restaurants [5][24] - The company is optimistic about future growth under new CEO Joe Christina, who is expected to enhance the brand's value perception and drive sustainable growth [3] Financial Performance - Total revenue for Q2 2025 decreased by 0.7% to $126.4 million from $127.4 million in Q2 2024 [5][21] - Adjusted EBITDA for Q2 2025 was $6.0 million, down from $9.2 million in Q2 2024 [5][26] - Operating margin for Q2 2025 was -11.7%, compared to -9.0% in Q2 2024 [5][21] Liquidity and Debt - As of July 1, 2025, the company had available cash and cash equivalents of $2.3 million and outstanding debt of $108.3 million [4] - The amount available for future borrowings under its revolving credit facility was $13.7 million [4] Business Outlook - The company revised its guidance for fiscal year 2025, expecting total revenue between $487 million and $495 million, with comparable restaurant sales growth of 2.5% to 4.0% [6] - The company plans to open two new company-owned restaurants while closing 28 to 32 company-owned restaurants [6][7] Restaurant Activity - As of July 1, 2025, the company operated 364 company-owned restaurants, down from 369 at the end of Q1 2025 [23] - Franchise restaurants at the end of the period totaled 89, a decrease from 91 [23]

Drew Madsen to Remain on Board of DirectorsReschedules Earnings Call For August 13th BROOMFIELD, Colo., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Noodles & Company (Nasdaq: NDLS) today announced the promotion of Joseph D. Christina, the Company’s current President and Chief Operating Officer, to the role of President and Chief Executive Officer and as a member of the Board of Directors, effective August 31, 2025. He will succeed Drew Madsen, who is stepping down as CEO for personal medical reasons but will facilita ...

Core Viewpoint - Noodles & Company will host a conference call to discuss its second quarter 2025 financial results on August 6, 2025, at 4:30 p.m. ET [1] Group 1: Conference Call Details - The conference call can be accessed live by dialing 201-389-0920, with a replay available until August 13, 2025, by dialing 412-317-6671 using passcode 13754231 [2] - The conference call will also be webcast live on the company's corporate website under the "Events & Presentations" page, with an archive available shortly after the call [3] Group 2: Company Overview - Noodles & Company has been serving a variety of noodle dishes since 1995, with over 450 restaurants and 7,000 team members dedicated to providing quality food and service [4]

Core Insights - Noodles & Company is launching a new menu item, Bulgogi Steak Mac & Cheese, starting July 2, which combines creamy mac and cheese with Korean-style Bulgogi sauce and steak [1][2][5] - A special BOGO offer will be available on July 14 for National Mac & Cheese Day, allowing rewards members to buy any regular entrée and get 50% off a Mac Menu dish [3][8] Product Launch - The Bulgogi Steak Mac & Cheese features elbow noodles in a cheddar-jack cheese sauce, topped with seared steak, Gochujang sauce, scallions, and crispy onions, available for a limited time [5] - The dish aims to provide a unique twist on a classic comfort food, appealing to customers looking for bold flavors [4][5] Marketing and Promotions - To promote the new dish, Noodles & Company is hosting a social media giveaway from June 27 to July 3, where participants can win exclusive Spoonsticks [6][7] - The Noodles Rewards program offers members points on orders, exclusive offers, and a free entrée after their first purchase of $10 or more [8] Company Background - Noodles & Company has been serving globally inspired noodle dishes since 1995, with over 460 locations [9] - The company has received recognition for its commitment to diversity and employee satisfaction, being named one of America's Favorite Restaurants and Best Loyalty Programs by Newsweek [10]

Core Insights - Noodles & Company has launched a new menu featuring four dishes selected as "Food Network Favorites" in partnership with Food Network, emphasizing culinary craftsmanship and value [1][2][4] Company Overview - Noodles & Company has reinvented its menu with over two-thirds of the offerings being new or improved, aimed at attracting both longtime fans and new customers [2][4] - The company has been recognized for its commitment to flavor and innovation, serving made-to-order dishes since 1995 [8] Menu Highlights - The "Food Network Favorites" include: - Basil Pesto Cavatappi: Enhanced with more basil pesto sauce, fire-roasted tomatoes, and aged Parmesan [7] - Buffalo Chicken Ranch Mac & Cheese: Features elbow noodles in creamy cheese sauce topped with parmesan-crusted chicken and tangy Buffalo sauce [7] - Rigatoni Rosa with Parmesan Chicken: A heartier version with spicy tomato cream sauce and slow-roasted tomatoes [7] - Lemon Garlic Shrimp Scampi: Fettuccine in garlic butter sauce with sautéed shrimp and vibrant summer flavors [7] Marketing and Partnerships - The collaboration with Food Network aims to highlight delicious food options and enhance the brand's visibility [3][4] - Noodles & Company is positioned as a leader in the fast-casual dining sector, focusing on high-quality ingredients and reasonable pricing [5][8] Industry Recognition - Noodles & Company has received accolades such as being named one of America's Favorite Restaurants and recognized for its diversity and employee satisfaction [8]

Core Insights - Noodles & Co. reported revenue of $123.79 million for the quarter ended March 2025, reflecting a year-over-year increase of 2% [1] - The company's EPS was -$0.20, compared to -$0.13 a year ago, indicating a decline in earnings [1] - The reported revenue exceeded the Zacks Consensus Estimate of $123.63 million by 0.13%, while the EPS fell short of the consensus estimate of -$0.10 by 100% [1] Financial Performance Metrics - Company-owned comparable restaurant sales increased by 4.7%, surpassing the two-analyst average estimate of 3.8% [4] - Total restaurants system-wide reached 460, slightly above the two-analyst average estimate of 459 [4] - System-wide comparable restaurant sales were up 4.4%, compared to the 3.8% average estimate based on two analysts [4] - Franchise comparable restaurant sales were reported at 2.9%, below the two-analyst average estimate of 3.8% [4] - Revenue from franchising royalties and fees was $2.47 million, below the two-analyst average estimate of $2.77 million, but showed a year-over-year increase of 3.2% [4] - Restaurant revenue was $121.33 million, slightly above the $120.86 million average estimate based on two analysts, representing a 2% year-over-year change [4] Stock Performance - Shares of Noodles & Co. have returned +10.2% over the past month, compared to the Zacks S&P 500 composite's +10.6% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Core Viewpoint - Noodles & Company is conducting its Q1 2025 earnings conference call, indicating a focus on financial performance and future projections [1][3]. Financial Performance - The call will include discussions on non-GAAP measures, which the company believes are useful for evaluating operating performance [5]. Regulatory Matters - The company will make forward-looking statements regarding future events and financial performance, which are subject to risks and uncertainties [4].

Core Viewpoint - Noodles & Co. reported a quarterly loss of $0.20 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.10, marking a significant earnings surprise of -100% [1][2] Financial Performance - The company posted revenues of $123.79 million for the quarter ended March 2025, slightly surpassing the Zacks Consensus Estimate by 0.13% and showing an increase from $121.4 million year-over-year [2] - Over the last four quarters, Noodles & Co. has only surpassed consensus EPS estimates once [2] Stock Performance - Noodles & Co. shares have increased approximately 76.2% since the beginning of the year, contrasting with the S&P 500's decline of -4.7% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.05 on revenues of $128.6 million, and for the current fiscal year, it is -$0.32 on revenues of $506.27 million [7] - The trend of estimate revisions for Noodles & Co. has been unfavorable ahead of the earnings release [6] Industry Context - The Retail - Restaurants industry, to which Noodles & Co. belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, suggesting a challenging environment for stock performance [8]