← NOODLES & Co

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent ($71.7m) ($37.5m) — $1.6m ($23.3m) $3.7m ($3.3m) — ($36.2m) ($42.6m)
Net Income (Loss) Available to Common Stockholders, Basic — ($45.4m) — $1.6m — — — — — —
Depreciation, Depletion and Amortization $28.1m $24.6m $24.6m $22.1m $21.7m $22.3m $23.3m $23.3m $29.1m $27.0m
Depreciation, Depletion and Amortization $28.1m $24.6m $24.6m $22.1m $21.7m $22.3m $23.3m $23.3m $29.1m $27.0m
Amortization of Debt Issuance Costs $140k $465k $465k $474k $371k $444k $723k $723k $606k $878k
Depreciation — $24.5m $24.6m $22.0m $21.6m $22.3m $23.2m $23.3m $29.0m $27.0m
Deferred Income Tax Expense (Benefit) $1.1m ($228k) — $68k $40k $29k ($40k) — $21k $40k
Deferred income taxes, net — $1.1m ($228k) ($283k) $40k $29k — ($40k) $26k $40k
Share-based Payment Arrangement, Noncash Expense $2.3m $1.5m — $2.4m $2.5m $4.1m $4.3m — $3.6m $3.0m
Goodwill, Impairment Loss — $0 — $0 $0 $0 $0 — $0 $0
Impairment of Intangible Assets, Finite-lived $0 $0 — $0 — — — — — —
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — — — — $0 $0 $0 — $0 $0
Operating Lease, Impairment Loss — — — — $500k $100k $200k — $1.7m $5.0m
Restaurant impairments, closure costs and asset disposals — $45.5m $30.9m $7.0m $4.8m $3.5m — $2.3m $4.0m $22.2m
Stock plan transactions and tax withholding on share-based compensation awards — — $83k ($252k) ($174k) $101k — ($356k) ($649k) ($157k)
Gain (Loss) on Extinguishment of Debt — — — ($746k) $0 $0 — — — —
Gain (Loss) on Disposition of Assets ($47.3m) ($37.4m) — ($7.7m) — — — — — —
Gain (Loss) on Disposition of Property Plant Equipment ($3.4m) ($1.2m) — ($1.6m) ($1.9m) ($1.1m) ($3.5m) — ($4.5m) ($4.3m)
Income Tax Expense (Benefit) $1.2m ($207k) — $104k $84k $70k $37k — $54k $64k
Interest Expense Nonoperating — — — — — — — — $8.4m $10.9m
Operating Lease, Expense — — — — $39.9m $39.1m $38.5m — $39.4m $36.9m
Gain on insurance proceeds received for property damage — ($494k) $0 ($370k) ($200k) ($406k) — $0 ($205k) $0
Operating lease assets and liabilities — — $0 ($2.2m) $2.8m ($1.8m) — ($5.4m) ($1.0m) ($4.1m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable — — — — — $491k $2.6m — ($1.1m) $171k
Increase (Decrease) in Inventories $790k $387k — $625k ($61k) $382k $743k — $702k $613k
Increase (Decrease) in Accounts Payable ($2.4m) ($1.3m) — $406k ($1.3m) $4.7m ($563k) — ($1.9m) $3.9m
Proceeds from Stock Options Exercised $1.1m $83k — — — — — — — —
Accrued capital expenditures $43.3m $20.8m — $17.4m $11.8m $18.8m $33.9m — $28.8m $12.4m
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal — — — — — — ($300k) — $500k —
Gain (Loss) on Termination of Lease — — — — $600k $200k ($100k) — $600k $600k
General and Administrative Expense $55.7m $39.7m — $43.4m $42.9m $47.5m $49.9m — $50.8m $49.1m
Goodwill $6.4m $6.4m — $7.2m $7.2m $7.2m $7.2m — $7.2m $7.2m
Net loss — ($71.7m) ($37.5m) ($8.4m) ($23.3m) $3.7m — ($3.3m) ($9.9m) ($42.6m)
Stock-based compensation — $2.3m $1.5m $3.0m $2.5m $4.1m — $4.3m $4.2m $3.0m
Accounts receivable — ($443k) $3.0m $91k ($392k) ($491k) — ($2.6m) $1.2m ($171k)
Inventories — ($790k) ($387k) ($541k) $61k ($382k) — ($743k) ($303k) ($613k)
Prepaid expenses and other assets — $162k $332k $185k ($14k) ($492k) — $1.2m ($520k) $1.2m
Accounts payable — ($2.4m) ($1.3m) ($1.6m) ($1.3m) $4.7m — ($563k) $2.2m $3.9m
Income taxes — $564k $180k ($109k) $59k ($64k) — ($68k) ($161k) $17k
Accrued expenses and other liabilities — $17.3m ($19.1m) ($16.3m) $1.9m $951k — ($9.5m) $758k ($3.5m)
Proceeds from restaurant refranchising — — — — $0 $0 — $1.6m $0 $0
Insurance proceeds received for property damage — $578k $0 $500k $837k $406k — $0 $243k $0
Net (payments) borrowings from swing line loan — ($1.6m) ($96k) ($101k) — $0 — $4.8m ($9k) ($6.2m)
Payment of finance leases — — $0 ($690k) ($1.1m) ($1.9m) — ($2.0m) ($2.4m) ($1.8m)
Beginning of year — $1.9m $1.8m $3.4m $7.8m $2.3m — $1.5m $3.0m $1.3m
Net Cash Provided by (Used in) Operating Activities $24.7m $4.1m $4.1m $30.1m $9.1m $36.2m $9.6m $9.6m $7.6m $7.3m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $43.3m $20.8m ($20.8m) $17.4m $11.8m $18.8m $33.9m ($33.9m) $28.8m $12.4m
Payments to Acquire Businesses, Net of Cash Acquired — — — $1.4m $0 $0 — — — —
Net Cash Provided by (Used in) Investing Activities ($42.8m) ($20.8m) ($20.8m) ($18.4m) ($10.9m) ($18.4m) ($32.3m) ($32.3m) ($26.7m) ($12.4m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $19.8m $10.5m — $1.9m $55.5m $0 $53.5m — $19.0m $13.3m
Proceeds from borrowings on long-term debt — $19.8m $10.5m $74.9m $55.5m $0 — $53.5m $34.5m $13.3m
Debt issuance costs — ($347k) ($938k) ($1.7m) ($731k) $0 — ($1.1m) ($690k) $0
Repayments of Long-term Debt — — — $5.9m $54.3m $21.6m $32.9m — $0 —
Proceeds from Issuance of Common Stock — $29.1m — $0 $0 — — — — —
Payments for Repurchase of Common Stock — — — — — — — — $0 $0
Repurchase of common stock — — — — — $0 — $0 ($5.0m) $0
Proceeds from (Payments for) Other Financing Activities $0 $0 — — — — — — — —
Net Cash Provided by (Used in) Financing Activities $17.9m $18.3m $18.3m ($5.8m) ($798k) ($23.4m) $22.0m $22.0m $17.3m $5.2m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — $5.8m ($2.6m) ($5.6m) ($732k) — ($1.9m) $116k
Net increase (decrease) in cash and cash equivalents — ($75k) $1.5m $1.3m ($2.6m) ($5.6m) — ($732k) $1.5m $116k
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $10.5m $7.8m $2.3m $1.5m — $1.1m $1.3m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $2.4m $3.5m — $2.8m $2.5m $1.4m $1.5m — $7.5m $9.3m
Income Taxes Paid, Net — ($158k) — ($98k) ($66k) $106k $123k — $25k $7k

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.