Noodles & Co Q1 net loss widens to $6.4M; revenue up 2.7% to $112.6M

NOODLES & Co

2022-Q1 EPS reported -$0.14 revenue$112,562,000

Net loss of $6.4M ($0.14 per diluted share) vs $2.0M loss in Q1 2021; adjusted net loss $5.8M ($0.13).
Total revenue $112.6M (+2.7% YoY); system-wide comp sales +6.4% (company +5.3%, franchise +11.9%).
Company AUV $1.25M (+6.8% YoY), accelerated to $1.35M in March; restaurant contribution margin 9.7% vs 13.6%.
Opened 5 company-owned and 2 franchise restaurants in Q1; temporary closures and refranchising reduced revenue by ~$7M.
Cost of goods sold inflation added ~300 bps pressure; operating margin (5.4)%.

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