Noodles & Co Q2 net loss deepens to $13.6M; revenue up 1.8% to $127.4M

NOODLES & Co

2024-Q2 EPS reported -$0.44 revenue$248,746,000

Net loss of $13.6M ($0.30 loss per diluted share) vs $1.3M loss ($0.03) a year ago.
Comparable restaurant sales up 2.0% system-wide: company-owned +1.3%, franchise +4.7%.
Operating margin fell to (9.0)% from (0.2)%; restaurant contribution margin improved to 15.5% from 14.8%.
Adjusted EBITDA of $9.2M (incl $10.9M non-cash impairment) vs $8.5M prior year.
Refranchised six company-owned restaurants to a new franchise partner during Q2.

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