Noodles & pany(NDLS) - 2025 Q1 - Quarterly Results

Revenue and Sales Performance - Total revenue decreased 3.7% to $121.4 million from$126.1 million in the first quarter of 2023[2] - Comparable restaurant sales decreased 5.4% system-wide, with a 5.7% decrease at company-owned restaurants and a 4.5% decrease at franchise restaurants[2] - The company expects total revenue of $510 million to$525 million for the full year 2024, including flat to +3% comparable restaurant sales growth[4] - Company-owned comparable restaurant sales increased by 6.9% in the latest period, while franchise comparable restaurant sales rose by 4.1%[19] - System-wide comparable restaurant sales grew by 6.4% in the latest period[19] Financial Losses and Margins - Net loss was $6.1 million, or$0.14 loss per diluted share, compared to net loss of $3.1 million, or$0.07 loss per diluted share, in the first quarter of 2023[2] - Operating margin was (3.4)% compared to (1.8)% in the first quarter of 2023[2] - Restaurant contribution margin was 13.1% compared to 13.7% in the first quarter of 2023[2] - Net loss for the fiscal quarter ended April 2, 2024, was $(6,140) thousand, compared to$(3,115) thousand in the same period last year[21] - Adjusted net loss for the fiscal quarter ended April 2, 2024, was $(5,827) thousand, compared to$(2,726) thousand in the same period last year[23] - Restaurant contribution margin decreased to 13.1% in the fiscal quarter ended April 2, 2024, from 13.7% in the same period last year[26] Cash, Debt, and Liabilities - The company had available cash and cash equivalents of $1.3 million and outstanding debt of$83.0 million as of April 2, 2024[3] - Total current assets as of January 2, 2024, were $22,624 million, with total assets at$368,095 million[18] - Total long-term debt stood at $80,218 million, and total liabilities were$340,935 million as of January 2, 2024[18] Expansion and Capital Expenditures - The company plans to open 10-12 company-owned restaurants and up to 3 franchise-owned restaurants in 2024[4] - Capital expenditures for 2024 are expected to be between $28 million and$32 million[4] Adjusted EBITDA and Restaurant Contribution - Adjusted EBITDA for the fiscal quarter ended April 2, 2024, was $5,499 thousand, down from$6,181 thousand in the same period last year[21] - Restaurant contribution for the fiscal quarter ended April 2, 2024, was $15,592 thousand, with a restaurant contribution margin of 13.1%[26] Share Information - Weighted average common shares outstanding (basic) were 45,079,355 for the fiscal quarter ended April 2, 2024, down from 46,115,506 in the same period last year[23] Quarterly Performance Update - The company reported a strong start to the second quarter with positive comparable sales and traffic growth in April[2]