Fri, Mar 7, 9:32 PM (51 days ago)
**Noodles & Company (NDLS) 2024 10-K Summary** For the fiscal year ending December 31, 2024, Noodles & Company reported total revenue of $493.3 million, a decrease of 2.0% from the previous year, primarily due to a 1.5% decline in comparable restaurant sales. The company experienced a net loss of $36.2 million, significantly higher than the $9.9 million loss in 2023, attributed to increased impairment charges of $20.3 million and rising interest expenses of $8.4 million. Operating expenses rose to 105.6% of total revenue, reflecting challenges in cost management amid a competitive landscape. Noodles operated 463 restaurants (371 company-owned, 92 franchised) as of year-end 2024, having closed 13 locations. The company aims to open two new company-owned restaurants in 2025 while focusing on enhancing its menu and digital ordering capabilities, which accounted for 56% of sales in 2024. The financial outlook remains cautious amid inflationary pressures and labor costs. Key risks include ongoing economic volatility, supply chain disruptions, and compliance with regulatory changes. The company is also addressing Nasdaq compliance issues, having recently regained compliance after a period of non-compliance with minimum bid price requirements. Overall, Noodles & Company continues to navigate a challenging market environment while implementing strategic initiatives to enhance profitability and growth.