Filing Flows › Noodles (NDLS) › Q3 2025
Noodles (NDLS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Noodles (NDLS) reported revenue of $122M for the third quarter 2025 (Q3 2025), -0.5% from a year earlier and -3% from the quarter before. Operating margin was -5.2%, net loss $9.2M (7.5% of revenue).
Noodles, Q3 2025: revenue $122M (-0.5% year over year), operating margin -5.2%, net loss $9.2M, operating cash flow $5.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $122M | -3% | -0.5% |
| Operating profit | −$6.3M | — | — |
| Net earnings | −$9.2M | — | — |
| Operating cash flow | $5.2M | — | -11% |
| Free cash flow | $1.4M | — | — |
What changed
Revenue was $122.1M in Q3 2025, down 1% year over year and down 3% from the previous quarter. Restaurant revenue was the largest line at 98% of revenue. Restaurant revenue lost $584K year over year (roughly flat), 88% of the total change.
Operating costs exceeded revenue by $6.3M, an operating margin of -5.2%. Total costs grew 1% against a revenue fall of 1%. The quarter ended with a net loss of $9.2M, narrower than the previous quarter's $17.6M loss.
Operating cash flow was $5.2M (down 11% year over year). Non-cash charges added back $6.6M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $6.6M. Capital expenditures of $3.7M left free cash flow of $1.4M.
Questions
What was Noodles' revenue in the third quarter 2025?
Noodles (NDLS) reported revenue of $122M for the third quarter 2025 (Q3 2025), -0.5% from a year earlier and -3% from the quarter before.
Was Noodles profitable in the third quarter 2025?
Operating loss was $6.3M (-5.2% of revenue) and net loss $9.2M.
Source: Noodles 10-Q on SEC EDGAR.