Noodles & Co. Q4 comps up 6.6% as adjusted EBITDA hits $7.6M
Noodles & Co. posted Q4 revenue of $122.8M and net loss of $6.8M ($1.16 per share), with comparable restaurant sales up 6.6% and adjusted EBITDA climbing to $7.6M. It forecasts fiscal 2026 revenue of $478M-$493M, 6%-9% comparable sales growth and adjusted EBITDA of $30M-$35M.
1. Q4 Financial Results
Noodles & Co. reported Q4 2025 revenue of $122.8M and a net loss of $6.8M ($1.16 per share), narrowing from a $9.7M loss a year earlier. System-wide comparable restaurant sales rose 6.6% (7.3% at company-owned units), while adjusted EBITDA increased to $7.6M from $4.0M, lifting operating margin to -3.3%.
2. Fiscal 2025 Performance
For full 2025, the chain generated $495.1M in revenue and recorded a net loss of $42.6M ($7.36 per share), compared with a $36.2M loss in 2024. System-wide comparable restaurant sales grew 4.1%, adjusted EBITDA reached $22.5M, restaurant contribution margin was 12.6%, and the company ended the year with 423 restaurants after opening 2 and closing 33 locations.
3. Fiscal 2026 Outlook
Management expects fiscal 2026 revenue of $478M-$493M, comparable sales growth of 6.0%-9.0% and adjusted EBITDA of $30M-$35M. It forecasts restaurant contribution margins of 14.7%-16.0%, plans 1-2 new franchise openings, 30-35 company-owned closures, and capital expenditures of $9.5M-$10.5M.