NOODLES & CoNDLS

NOODLES & Co Earnings Per Share Disclosure

10-KFiled Mar 7, 20252 min read
(Loss) Earnings Per Share
Basic (loss) earnings per share (“EPS”) is calculated by dividing net (loss) income available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. Diluted EPS is calculated using net (loss) income available to common stockholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying stock options and restricted common stock. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.
The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data):
202420232022
Net loss attributable to common stockholders
$(36,213)$(9,856)$(3,314)
Shares:  
Basic weighted average shares outstanding45,465,727 45,863,719 45,913,787 
Effect of dilutive securities— — — 
Diluted weighted average number of shares outstanding45,465,727 45,863,719 45,913,787 
Loss per share:
   
Basic loss per share
$(0.80)$(0.21)$(0.07)
Diluted loss per share
$(0.80)$(0.21)$(0.07)
The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. Potential common shares are excluded from the computation of diluted earnings per share when the effect would be anti-dilutive. Shares issuable on the vesting or exercise of share-based awards or exercise of outstanding warrants were excluded from the calculation of diluted loss per share because the effect of their inclusion would have been anti-dilutive totaled 3,770,218, 3,458,622 and 2,402,238 for 2024, 2023 and 2022, respectively.

Historical Timeline

Fiscal YearFiled
2024Mar 7, 2025Showing above
2020Feb 26, 2021
2019Mar 15, 2019
2018Mar 15, 2018
2017Mar 2, 2017
2015Mar 1, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValueGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsNew StandardsPay vs Performance