Noodles & Company Q1 revenue up 12% to $126.1M; net loss narrows to $3.1M

NOODLES & Co

2023-Q1 EPS reported -$0.07 revenue$126,077,000

Total revenue $126.1M (+12.0% YoY); company comp sales +6.9%; franchise comps +4.1%.
Net loss $3.1M ($0.07 loss per diluted share) vs $6.4M loss in Q1 2022; adjusted net loss $2.3M.
Adjusted EBITDA $7.0M, up $4.8M YoY; restaurant contribution margin 13.7% vs 9.7%.
Operating margin improved 360 bps to (1.8)%; three new company-owned restaurants opened.
Company AUV $1.34M (+7.5% vs Q1 2022).

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