---
schema_version: "secwatch.filing_event.v1"
accession: "0001275158-24-000005"
form_type: "8-K"
ticker: "NDLS"
cik: "0001275158"
company_name: "NOODLES & Co"
filed_at: "2024-03-07T23:59:59+00:00"
generated_at: "2026-06-05T01:12:22.228636+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Noodles & Company reports Q4 net loss of $6.1M, appoints Drew Madsen as permanent CEO

## Summary
- Q4 total revenue decreased 8.9% to $124.3M; comparable restaurant sales down 4.2% system-wide.
- Net loss of $6.1M ($0.14 per diluted share) vs. net income of $1.0M in prior-year quarter.
- Full year 2023 net loss widened to $9.9M ($0.21 per diluted share) from $3.3M in 2022.
- Drew Madsen appointed permanent CEO effective March 6, 2024; $800K base salary plus equity awards.
- 2024 strategic priorities: drive traffic via operational excellence, menu, digital, catering, financial position.

## SEC filing metadata
- accession: 0001275158-24-000005
- form_type: 8-K
- ticker: NDLS
- cik: 0001275158
- company_name: NOODLES & Co
- filed_at: 2024-03-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1275158/000127515824000005/0001275158-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1275158/000127515824000005/ndls-20240306.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001275158-24-000005
- JSON: https://secwatch.observer/filing/0001275158-24-000005.json
- Plain text: https://secwatch.observer/filing/0001275158-24-000005.txt

## Key facts
- Earnings Releases
  NOODLES & Co reported fiscal quarter and fiscal year ended January 2, 2024 results: revenue $124.3 million, net income $6.1 million, EPS $0.14 loss per diluted share.
  - Period: fiscal quarter and fiscal year ended January 2, 2024
  - Revenue: $124.3 million
  - Net income: $6.1 million
  - EPS: $0.14 loss per diluted share
  - Result: reported results
  source text: a 2024 business outlook. Key highlights for the fourth quarter of 2023 (13 weeks) compared to the fourth quarter of 2022 (14 weeks) in clude: • Total revenue decreased 8.9% to $124.3 million from $136.5 million. Adjusting for the impact of the 53rd week in the fourth quarter of 2022, total revenue decreased $3.1 million in the fourth quarter of 2023, or 2.4%. •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1275158/000127515824000005/0001275158-24-000005-index.htm
- Earnings Releases
  NOODLES & Co reported fiscal year ended January 2, 2024 results: revenue $503.4 million, net income $9.9 million, EPS $0.21 loss per diluted share.
  - Period: fiscal year ended January 2, 2024
  - Revenue: $503.4 million
  - Net income: $9.9 million
  - EPS: $0.21 loss per diluted share
  - Result: reported results
  source text: closed in the fourth quarter of 2023. Key highlights for fiscal year 2023 (52 weeks) compared to fiscal year 2022 (53 weeks) include: • Total revenue decreased 1.2% to $503.4 million from $509.5 million. Adjusting for the impact of the 53 rd week in 2022, total revenue increased $3.0 million in 2023, or 0.6%. • Comparable restaurant sales decreased 1.9%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1275158/000127515824000005/0001275158-24-000005-index.htm
- Executive change
  Drew Madsen was appointed as Chief Executive Officer at NOODLES & Co.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Effective March 6, 2024, the Board of Directors (the “Board”) of the Company appointed Drew Madsen, 67, as the Company’s Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1275158/000127515824000005/0001275158-24-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.