Here are 1-3 brief analogies for Noodles & Company (NDLS):

• Chipotle for pasta.
• A pasta-focused Panera Bread.

• Noodle & Pasta Dishes: The core offering, featuring a diverse menu of international and American-inspired pasta and noodle bowls like Mac & Cheese, Pad Thai, and Japanese Pan Noodles.
• Salads: Freshly prepared salads served as a lighter meal option or accompaniment.
• Soups: A selection of savory soup options available seasonally.
• Sides and Desserts: Complementary items including bread, meatballs, and simple sweet treats.

Noodles & Company (symbol: NDLS) is a fast-casual restaurant chain. As such, it primarily sells directly to individual consumers rather than to other companies. Its customers can be broadly categorized as:

• Families and Casual Diners: Individuals and groups seeking a convenient, relatively affordable, and family-friendly dining experience for lunch or dinner, often attracted by the diverse menu of pasta dishes, salads, and soups.
• Young Professionals and Students: Customers looking for quick, customizable, and reasonably priced meal options, whether dining in, taking out, or utilizing delivery services during busy weekdays or weekends.
• Individuals with Dietary Preferences: Patrons who appreciate the ability to customize their meals with options for vegetarian, vegan, gluten-friendly, or healthier choices, which Noodles & Company often provides.

• McLane Foodservice, Inc.

Joe Christina, Chief Executive Officer
Joe Christina joined Noodles & Company as President and Chief Operating Officer in February 2025 and was promoted to Chief Executive Officer on September 1, 2025. He has over 30 years of restaurant industry experience, including 29 years at Burger King, where he advanced from Restaurant Manager to SVP of Franchise Operations. Prior to Noodles, he served as EVP of U.S. Operations and later CEO at Church's Chicken, where he led six years of strong year-over-year growth. Most recently, he was CEO of Tijuana Flats, where he helped modernize its offerings and expand its footprint.

Mike Hynes, Chief Financial Officer
Mike Hynes joined Noodles & Company as Chief Financial Officer in July 2023, bringing nearly 25 years of finance and accounting experience. Before Noodles, he held multiple leadership roles at Ruth's Hospitality Group since 2008, including Vice President of Finance and Accounting for Ruth's Chris Steak House, where he oversaw investor relations, strategic financial planning, and financial analysis. Ruth's Hospitality Group was acquired by Darden earlier in 2023. Earlier in his career, Mike held managerial positions at accounting firms such as RSM and Deloitte. He is a Certified Public Accountant.

Kathy Lockhart, Chief Accounting Officer
Kathy Lockhart was promoted to Chief Accounting Officer in November 2020. She has served as Vice President and Controller at Noodles & Company since August 2006. Kathy is a CPA and a CGMA, and a member of the American Institute of Certified Public Accountants and the Colorado Society of CPAs. She holds a bachelor's degree in business administration and political science from Western Colorado University.

Corey Kline, Executive Vice President of Technology
Corey Kline joined Noodles & Company in September 2011 as Director of IT and was promoted to VP in 2016. He previously held roles at Famous Dave's, Accenture, Jefferson Wells, and IBM, with a background in enterprise applications and risk management. Corey holds a BA in Mathematics with a minor in Computer Science from Luther College.

Stephen Kennedy, Executive Vice President of Marketing
Stephen Kennedy joined Noodles & Company as EVP of Marketing in November 2024. He brings over 25 years of marketing and brand-building experience, including serving as VP of Growth at Bounteous and holding VP roles at Nestlé USA and Domino's Pizza, where he contributed to the brand's digital transformation. His career also includes senior roles at General Motors, Borders Books, and Campbell-Ewald, with expertise in digital strategy, creative, and consumer engagement.

Noodles & Company (NDLS) anticipates several key drivers to fuel its revenue growth over the next two to three years, primarily focusing on enhancing the customer experience, expanding profitable channels, and optimizing its restaurant portfolio.

1. Menu Innovation and New Product Launches: The company is actively leveraging menu innovation to drive customer excitement and traffic. This includes the national rollout of new dishes, such as Crispy Chicken Bacon Alfredo and Lemon Garlic Shrimp Scampi, which have shown promising results. Additionally, the "Delicious Duos" platform has been successful in driving upsells and customer engagement, contributing to positive comparable restaurant sales. Noodles plans to impact two-thirds of its menu by next year with its "fully reimagined new menu" launched in March 2025.
2. Enhanced Digital Engagement and Loyalty Programs: Noodles & Company aims to drive profitable traffic growth by further leveraging its robust digital ecosystem. The company is investing in a new mobile app for Android and iOS, alongside personalized marketing through its rewards program, to strengthen conversion rates and engage guests. Digital channels, including third-party delivery, account for 55% of total sales, and loyalty members, who spend twice as much annually, are a critical focus for growth.
3. Expansion of the Catering Business: Catering is identified as a significant revenue diversification strategy, with Noodles targeting double-digit growth. The catering business has already seen substantial growth, increasing from 1% of sales in 2022 to 1.7% year-to-date in 2024, with a 42% increase in system-wide sales in Q2 2024. The company believes catering has the potential to reach 4% to 5% of total sales in the future.
4. Strategic Unit Growth and Franchise Development: While the company is strategically closing underperforming restaurants to improve profitability and redirect sales to nearby locations, it also maintains a focus on new unit growth through multi-unit franchisees. Noodles has pursued initiatives to increase its presence in Southern and Southwestern markets through franchise expansion and aims to accelerate new unit growth with smaller footprint designs and efficient operational procedures. This strategic approach to its restaurant portfolio is expected to contribute to overall revenue by focusing on more profitable locations and expanding the brand in key markets.

Share Repurchases

• Noodles & Company completed the repurchase of 1,731,952 shares for $4.95 million between July 26, 2023, and October 3, 2023, under a program announced on August 9, 2023.

Share Issuance

• The number of shares outstanding for Noodles & Company has generally increased in recent years, with a 1.03% increase in 2025 and a 1.64% increase in 2024, reaching 46.16 million shares outstanding as of November 2025.

Capital Expenditures

• Expected capital expenditures for the full fiscal year 2025 are estimated to be between $12 million and $13 million. These expenditures are primarily focused on opening two new company-owned restaurants and the strategic closure of 31 to 34 company-owned restaurants and 7 to 8 franchise restaurants, aiming to strengthen the balance sheet.
• Capital expenditures for the first three quarters of 2024 totaled at least $24.9 million, with $8.6 million in Q1, $9.2 million in Q2, and $7.1 million in Q3.
• In 2023, the company opened 18 new company-owned restaurants and closed six company-owned restaurants.