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How Noodles (NDLS) makes money
Noodles (NDLS) made $127M of revenue in the second quarter 2026 (Q2 2026), +0.5% from a year earlier. Restaurant revenue brought in $125M (98%); Franchising royalties and fees, and other brought in $2.2M (2%).
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Restaurant revenue | $125M | 98.2% | +3% | +0.8% |
| Franchising royalties and fees, and other | $2.2M | 1.8% | -5% | -16% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $127M | 100.0% |
| Income tax | $20K | 0.0% |
| Operating cash flow | $3.3M | 2.6% |
| Free cash flow | $1.8M | 1.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $127M | +0.5% |
| Q1 2026 | $124M | 0% |
| Q4 2025 | $123M | +0.8% |
| Q3 2025 | $122M | -0.5% |
| Q2 2025 | $126M | -0.7% |
| Q1 2025 | $124M | +2% |
| Q4 2024 | $122M | -2% |
From Noodles' 10-Q filed Jul 24, 2026 (on EDGAR).
Questions
How does Noodles make money?
Noodles (NDLS) made $127M of revenue in the second quarter 2026 (Q2 2026), +0.5% from a year earlier. Restaurant revenue brought in $125M (98%); Franchising royalties and fees, and other brought in $2.2M (2%).
What is Noodles' biggest business?
Restaurant revenue: $125M in the second quarter 2026, 98% of revenue, +0.8% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.