Noodles & Co FY2021 revenue $475.2M (+20.7%), net income $3.7M vs loss $23.3M; AUV +11.3% vs 2019

NOODLES & Co

2021-FY EPS reported $0.08 revenue$475,152,000

Full year 2021 total revenue $475.2M, up 20.7% YoY; comparable restaurant sales +22.1% system-wide.
Net income $3.7M ($0.08 diluted EPS) vs net loss $23.3M ($0.53 loss) in 2020; adjusted net income $7.8M ($0.17).
Company AUV $1.30M, up 22.2% vs 2020 and 11.3% vs 2019; digital sales 56.6% of total revenue.
Adjusted EBITDA $38.1M (+232.5% YoY); restaurant contribution margin improved 400 bps to 15.9%.
Reiterates 2022 unit growth target of 8% and 10% annually thereafter.

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