Noble Roman's Announces Financial Data for the 6 Months ended June 30th and other Related Updates
Rhea-AI Summary
Noble Roman's (OTCQB:NROM) reported financial results for the three and six months ended June 30, 2026 and detailed a major refinancing. For the first half of 2026, total revenue was approximately $8.0 million versus $7.8 million in 2025, with net income of about $311k versus $329k. Q2 2026 revenue was about $4.13 million and net income $191k, compared to $4.08 million and $285k in Q2 2025.
The company closed a new $6.9 million senior secured loan with Lake Forest Bank & Trust, using proceeds to repay its prior term loan, retire subordinated notes and extinguish all related warrants. This triggered a one-time $353k write-off, reducing 2026 net income, but is expected to lower quarterly interest expense to about $161k in Q3 2026 versus roughly $406k in Q3 2025. Cash rose to about $1.1 million, total liabilities declined to roughly $11.8 million, and equity increased to about $3.8 million.
Positive
- New $6.9m senior loan refinances debt, removes subordinated notes and warrants
- Interest expense forecast Q3 2026 ~$161k vs ~$406k Q3 2025
- 6M 2026 revenue $8.03m vs $7.84m in 2025
- Convenience Store Pizza margin contribution 6M 2026 $2.29m vs $1.96m 2025; margin rate 73.1%
- Cash balance up to $1.10m at June 30, 2026 from $0.53m year-end 2025
- Total liabilities reduced to $11.78m; equity increased to $3.81m as of June 30, 2026
Negative
- Q2 2026 net income $191k vs $285k in Q2 2025
- 6M 2026 net income $311k vs $329k in 2025, partly from $353k one-time charge
- Craft Pizza & Pub same-store sales down 4.8% in Q2 and 0.8% for 6M 2026
- Q2 2026 interest expense $497k vs $422k in Q2 2025 before refinancing benefits
- General and administrative expenses 6M 2026 $1.23m vs $0.99m 2025
AI-generated analysis. How Rhea-AI works. Not financial advice.
INDIANAPOLIS, IN / ACCESS Newswire / August 12, 2026 / Noble Roman's, Inc. (OTCQB:NROM), the Indianapolis based operator and franchisor of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub, today announced key 2026 financial data for the 6- and 3-month periods ended June 30th as well as other updates.
As previously announced, during the second quarter of 2026 the company obtained a new senior secured loan through Lake Forest Bank & Trust Company in the amount of approximately
Management's presentation of financial highlights from the 6-month period ending June 30, 2026 includes:
Net Income after provision for tax accrual was approximately
$311 k in 2026 (which, except for the one-time charge of$353 k, per above, would have been approximately$580 k after tax) versus approximately$329 k in 2025.Net Income Before Taxes was approximately
$410 k (which, except for the one-time charge of$353 k, per above, would have been$763 k) versus approximately$490 k in 2025. Net Income Before Taxes is important since the company will not pay income taxes for a number of years due to its roughly$3 million Deferred Tax Asset.Total Revenue was approximately
$8.0 million versus approximately$7.8 million for the same 6-month period in 2025.Cash increased to approximately
$1.1 million on June 30, 2026 compared to approximately$534 k on December 31, 2025Same stores sales decreased in the company-owned Craft Pizza & Pub segment by approximately .
8% versus the same 6-month period in 2025, largely as a result of economic conditions created by a combination of inflationary pressures and the Iranian conflict experienced during the 2nd quarter. The company implemented no menu price increases.The margin contribution from the company's franchised Convenience Store Pizza Program segment was approximately
$2,289 k in 2026 versus approximately$1,959 k for the same 6-month period in 2025.The margin contribution rate for the franchise segment increased in the first 6 months of 2026 to approximately
73.1% versus approximately67.5% for the same period in 2025 reflecting the fact that only a marginal amount of additional overhead is required for short-term growth in this segment.
Management's presentation of financial highlights from the 3-month period ending June 30, 2026 includes:
Net Income after provision for tax accrual was approximately
$191 k in 2026 (which, except for the one-time charge of$353 k, per above, of which approximately$112 k was recorded in the first quarter, would have been approximately$374 k after tax) compared to approximately$285 k in 2025.Net Income Before Taxes was approximately
$216 k (or$457 k except for the one-time charge per above) versus approximately$405 k in 2025. Net Income Before Taxes is important since the company will not pay income taxes for a number of years due to its roughly$3 million Deferred Tax Asset.Total Revenue was approximately
$4.13 million versus approximately$4.08 million for the same 3-month period in 2025.Same stores sales decreased in the company-owned Craft Pizza & Pub segment by approximately
4.8% versus the same 3-month period in 2025, largely as a result of economic conditions created by a combination of inflationary pressures and the Iranian conflict. The company implemented no menu price increases.The margin contribution from the company's franchised Convenience Store Pizza Program segment was approximately
$1,189 k in the 2nd quarter 2026 versus approximately$1,060 k for the same 3-month period in 2025.The margin contribution rate for the franchise segment increased in the 2nd quarter of 2026 to approximately
73.8% versus approximately72.5% for the same period in 2025 reflecting the fact that only a marginal amount of additional overhead is required for short-term growth in this segment.
According to Scott Mobley, President and CEO of Noble Roman's, "The economic environment, directly and indirectly related to the Iranian conflict and general inflationary pressures, particularly with fuel costs, created a lot of consumer hesitancy which impacted both of the company's business segments during the second quarter. The fluctuations in oil and gas prices make convenience store operators hesitant to outlay cash for investment purposes, and consumers become reluctant with discretionary dollars when the price of essentials such as gas increase and fluctuate. During April, the Craft Pizza and Pub segment was negative on both guest ticket counts and average check. After modulating marketing and product promotion efforts, the segment was beginning to approach near equality in ticket counts in May but still experienced a significantly depressed average check. By June and July, ticket counts were actually up an average of about
Additionally, the Craft Pizza & Pub segment was going against strong results from the XL and Pepperoni Trio Pizzas in 2025. Moving the sales comparison back a year, same store sales were down about .
Noble Roman's also announced that it will host a conference call on Thursday, August 13th from 4:00 to 4:30 PM ET. Those interested in participating in the conference call should dial in at 317-300-7896 and use the participation code 499795 (no pin number required - callers will press 5* to ask questions when Q&A time is announced).
The statements concerning the company's future revenues, profitability, financial resources, financing efforts, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management. The company's auditing firm has not yet completed its review of the first quarter 2026 financial statements, and some results may change from the results presented in previous releases. The company's actual results in the future may differ materially from those indicated by the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to competitive factors and pricing and cost pressures, the company's ability to service its loan, the emergence or spread of human or animal pandemics (such as COVID-19 or the Avian Influenza), non-renewal of franchise agreements or the openings contemplated by the Development Agreement not occurring, shifts in market demand, the success of franchise programs, general economic conditions and national or international events, such as war or unrest, changes in demand for the company's products or franchises, the impact of franchise regulation, the success or failure of individual franchisees, inflation, other changes in prices or supplies of food ingredients and labor and as well as the factors discussed under "Risk Factors" contained in the 2025 Annual Report on Form 10-K. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. If activist stockholder activities ensue, or if certain parties (acting individually or as a group) seek to initiate interference in the company's business relationships, the company business could be adversely impacted.
FOR ADDITIONAL INFORMATION, CONTACT:
For Media Information: Scott Mobley, President & CEO (smobley@nobleromans.com)
For Investor Relations: Paul Mobley, Executive Chairman (pmobley@nobleromans.com)
Mike Cole, Investor Relations: 949-444-1341 (mike.cole@armaadvisoryservices.com)
END
Noble Roman's, Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited)
Assets | December 31, 2025 | June 30, 2026 | ||||||
Current assets: | ||||||||
Cash | $ | 533,670 | $ | 1,095,174 | ||||
Employee Retention Tax Credit Receivable | 527,948 | 527,948 | ||||||
Accounts receivable - net | 741,539 | 704,980 | ||||||
Inventories | 965,212 | 996,314 | ||||||
Prepaid expenses | 478,262 | 308,322 | ||||||
Total current assets | 3,246,631 | 3,632,738 | ||||||
Property and equipment: | ||||||||
Equipment | 4,463,379 | 4,527,864 | ||||||
Leasehold improvements | 3,175,507 | 3,185,847 | ||||||
7,638,886 | 7,713,711 | |||||||
Less accumulated depreciation and amortization | 3,979,112 | 4,187,400 | ||||||
Net property and equipment | 3,659,774 | 3,526,311 | ||||||
Deferred tax asset | 3,114,727 | 3,016,393 | ||||||
Deferred contract costs | 1,699,935 | 1,655,885 | ||||||
Goodwill | 278,466 | 278,466 | ||||||
Operating lease right of use assets | 3,332,195 | 2,892,458 | ||||||
Other assets | 562,756 | 592,718 | ||||||
Total assets | $ | 15,894,484 | $ | 15,594,969 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued expenses | $ | 702,207 | $ | 684,150 | ||||
Current portion of operating lease liability | 950,409 | 960,650 | ||||||
Current portion of Senior Loans payable | 5,470,824 | 1,081,148 | ||||||
Current portion of subordinated notes payable | 575,000 | - | ||||||
Warrant liability | 500,000 | - | ||||||
Total current liabilities | 8,198,440 | 2,725,948 | ||||||
Long-term obligations: | ||||||||
Long-term portion of Senior Loan payable | 5,311,479 | |||||||
Operating lease liabilities - net of current portion | 2,564,162 | 2,088,405 | ||||||
Deferred contract income | 1,699,934 | 1,655,885 | ||||||
Total long-term liabilities | 4,264,096 | 9,055,769 | ||||||
Total liabilities | $ | 12,462,536 | $ | 11,781,717 | ||||
Stockholders' equity: | ||||||||
Common Stock - no par value (40,000,000 shares authorized, 22,215,512 issued and outstanding as of December 31, 2025 and 22,672,827 issued and outstanding as of June 30, 2026) | 24,911,141 | 24,981,056 | ||||||
Accumulated deficit | (21,479,193 | ) | (21,167,804 | ) | ||||
Total stockholders' equity | 3,431,947 | 3,813,252 | ||||||
Total liabilities and stockholders' equity | $ | 15,894,484 | $ | 15,594,969 | ||||
Noble Roman's, Inc. and Subsidiaries
Consolidated Statements of Operations
(Unaudited)
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2025 | 2026 | 2025 | 2026 | |||||||||||||
Revenue: | ||||||||||||||||
Restaurant revenue - company-owned Craft Pizza & Pub | $ | 2,324,459 | $ | 2,213,383 | $ | 4,343,877 | $ | 4,307,800 | ||||||||
Restaurant revenue - company-owned non-traditional | 295,025 | 274,025 | 589,598 | 550,266 | ||||||||||||
Franchising revenue | 1,454,251 | 1,611,565 | 2,900,159 | 3,130,590 | ||||||||||||
Administrative fees and other | 6,654 | 25,527 | 6,954 | 39,891 | ||||||||||||
Total revenue | 4,080,389 | 4,124,500 | 7,840,588 | 8,028,547 | ||||||||||||
Operating expenses: | ||||||||||||||||
Restaurant expenses - company-owned Craft Pizza & Pub | 2,009,183 | 2,001,510 | 3,899,870 | 3,940,214 | ||||||||||||
Restaurant expenses - company-owned non-traditional | 274,483 | 275,979 | 567,593 | 545,307 | ||||||||||||
Franchising expenses | 394,745 | 422,512 | 941,192 | 841,640 | ||||||||||||
Total operating expenses | 2,678,411 | 2,700,001 | 5,408,655 | 5,327,161 | ||||||||||||
Depreciation and amortization | 100,983 | 104,402 | 197,049 | 208,288 | ||||||||||||
General and administrative expenses | 474,440 | 607,406 | 993,511 | 1,229,923 | ||||||||||||
Total expenses | 3,253,834 | 3,411,809 | 6,599,215 | 6,765,372 | ||||||||||||
Operating income | 826,555 | 712,691 | 1,241,373 | 1,263,175 | ||||||||||||
Interest expense | 421,582 | 497,168 | 751,336 | 853,451 | ||||||||||||
Income before income taxes | 404,973 | 215,523 | 490,037 | 409,724 | ||||||||||||
Income tax | 119,537 | 24,903 | 160,789 | 98,334 | ||||||||||||
Net income | $ | 285,436 | $ | 190,620 | $ | 329,248 | $ | 311,390 | ||||||||
Earnings per share - basic: | ||||||||||||||||
Net income | $ | .01 | $ | .01 | $ | .02 | $ | .01 | ||||||||
Number of common shares outstanding | 22,215,512 | 22,672,827 | 22,215,512 | 22,672,827 | ||||||||||||
Diluted earnings per share: | ||||||||||||||||
Net income | $ | .01 | $ | .01 | $ | .01 | $ | .01 | ||||||||
Number of common shares outstanding | 25,508,223 | 23,439,003 | 25,508,223 | 23,439,003 | ||||||||||||
SOURCE: Noble Romans, Inc.
View the original press release on ACCESS Newswire