Noble Roman's Announces First Quarter 2025 Earnings and Other Highlights
Noble Roman's (OTCQB:NROM), a pizza franchise company, reported strong Q1 2025 financial results. The company achieved a significant turnaround with net income before taxes of $171,885 compared to a net loss of $86,477 in Q1 2024. Total revenue increased by 2.6% to $3.8 million despite challenging weather conditions.
The company's Craft Pizza & Pub segment showed resilience with same-store sales growth of 1.2% in Q1, followed by stronger growth of 2.7% in April and 9.3% in May 2025. The non-traditional franchise segment is projected to add 60-70 new units in 2025, building on the 68 units opened in 2024.
Noble Roman's is working with a new placement agent to secure financing to retire current debt obligations, including the Corbel Capital Partners loan which has been extended to June 30, 2026.
Noble Roman's (OTCQB:NROM), un'azienda di franchising di pizzerie, ha riportato risultati finanziari solidi nel primo trimestre del 2025. La società ha ottenuto una significativa inversione di tendenza con un utile netto ante imposte di 171.885 dollari rispetto a una perdita netta di 86.477 dollari nel primo trimestre del 2024. Il fatturato totale è aumentato del 2,6% raggiungendo i 3,8 milioni di dollari nonostante condizioni meteorologiche difficili.
Il segmento Craft Pizza & Pub ha dimostrato resilienza con una crescita delle vendite a parità di negozio dell'1,2% nel primo trimestre, seguita da una crescita più forte del 2,7% in aprile e del 9,3% a maggio 2025. Il segmento di franchising non tradizionale prevede l'apertura di 60-70 nuove unità nel 2025, a seguito delle 68 unità aperte nel 2024.
Noble Roman's sta collaborando con un nuovo agente di collocamento per assicurarsi finanziamenti volti a estinguere le obbligazioni debitorie correnti, incluso il prestito con Corbel Capital Partners, che è stato esteso fino al 30 giugno 2026.
Noble Roman's (OTCQB:NROM), una empresa de franquicias de pizzerías, reportó sólidos resultados financieros en el primer trimestre de 2025. La compañía logró una importante recuperación con un ingreso neto antes de impuestos de 171,885 dólares en comparación con una pérdida neta de 86,477 dólares en el primer trimestre de 2024. Los ingresos totales aumentaron un 2.6% hasta 3.8 millones de dólares a pesar de las condiciones climáticas adversas.
El segmento Craft Pizza & Pub de la compañía mostró resistencia con un crecimiento de ventas en tiendas comparables del 1.2% en el primer trimestre, seguido de un crecimiento más fuerte del 2.7% en abril y del 9.3% en mayo de 2025. Se proyecta que el segmento de franquicias no tradicionales agregue 60-70 nuevas unidades en 2025, sumándose a las 68 unidades abiertas en 2024.
Noble Roman's está trabajando con un nuevo agente colocador para asegurar financiamiento que permita cancelar las obligaciones de deuda actuales, incluido el préstamo con Corbel Capital Partners, que ha sido extendido hasta el 30 de junio de 2026.
Noble Roman's (OTCQB:NROM)는 피자 프랜차이즈 회사로서 2025년 1분기 강력한 재무 실적을 보고했습니다. 회사는 2024년 1분기 86,477달러 순손실에서 세전 순이익 171,885달러로 큰 전환을 이루었습니다. 총 매출은 어려운 기상 조건에도 불구하고 2.6% 증가하여 380만 달러를 기록했습니다.
회사의 크래프트 피자 & 펍 부문은 1분기에 동일 점포 매출 1.2% 성장을 보였으며, 2025년 4월에는 2.7%, 5월에는 9.3%로 더욱 강한 성장을 보였습니다. 비전통적 프랜차이즈 부문은 2024년에 개설한 68개 매장을 기반으로 2025년에 60-70개 신규 점포를 추가할 예정입니다.
Noble Roman's는 현재 부채 상환을 위해 새로운 배치 에이전트와 협력 중이며, Corbel Capital Partners 대출은 2026년 6월 30일까지 연장되었습니다.
Noble Roman's (OTCQB:NROM), une entreprise de franchise de pizzerias, a annoncé de solides résultats financiers pour le premier trimestre 2025. La société a réalisé un retournement significatif avec un revenu net avant impôts de 171 885 dollars contre une perte nette de 86 477 dollars au premier trimestre 2024. Le chiffre d'affaires total a augmenté de 2,6 % pour atteindre 3,8 millions de dollars malgré des conditions météorologiques difficiles.
Le segment Craft Pizza & Pub a montré sa résilience avec une croissance des ventes comparables de 1,2 % au premier trimestre, suivie d'une croissance plus forte de 2,7 % en avril et 9,3 % en mai 2025. Le segment des franchises non traditionnelles prévoit d'ajouter 60 à 70 nouvelles unités en 2025, après les 68 unités ouvertes en 2024.
Noble Roman's travaille avec un nouvel agent de placement pour obtenir un financement destiné à rembourser les dettes actuelles, y compris le prêt de Corbel Capital Partners, qui a été prolongé jusqu'au 30 juin 2026.
Noble Roman's (OTCQB:NROM), ein Pizza-Franchise-Unternehmen, meldete starke Finanzergebnisse für das erste Quartal 2025. Das Unternehmen erzielte eine deutliche Wende mit einem Vorsteuerergebnis von 171.885 US-Dollar im Vergleich zu einem Nettoverlust von 86.477 US-Dollar im ersten Quartal 2024. Der Gesamtumsatz stieg trotz schwieriger Wetterbedingungen um 2,6 % auf 3,8 Millionen US-Dollar.
Der Geschäftsbereich Craft Pizza & Pub zeigte Widerstandsfähigkeit mit einem Umsatzwachstum bei vergleichbaren Filialen von 1,2 % im ersten Quartal, gefolgt von stärkerem Wachstum von 2,7 % im April und 9,3 % im Mai 2025. Im nicht-traditionellen Franchise-Segment werden für 2025 60-70 neue Einheiten erwartet, zusätzlich zu den 68 Einheiten, die 2024 eröffnet wurden.
Noble Roman's arbeitet mit einem neuen Platzierungsagenten zusammen, um eine Finanzierung zur Ablösung der aktuellen Schuldenverpflichtungen zu sichern, einschließlich des Kredits von Corbel Capital Partners, der bis zum 30. Juni 2026 verlängert wurde.
- Turned $86,477 loss into $171,885 profit before taxes in Q1 2025
- Revenue grew 2.6% to $3.8M despite challenging weather conditions
- Strong same-store sales growth trending upward: 1.2% in Q1, 2.7% in April, and 9.3% in May 2025
- Non-traditional franchise segment projects 60-70 new units in 2025
- High contribution margin of 62.2% in Q1
- $3.5M Deferred Tax Asset means no income taxes payable for several years
- Seeking new financing to retire existing debt obligations
- Cash position decreased from $710,227 to $564,637
- Significant debt burden with $5.37M loan payable to Corbel
- Changing auditors for 2025, which could signal potential concerns
INDIANAPOLIS, IN / ACCESS Newswire / June 26, 2025 / Noble Roman's, Inc. (OTCQB:NROM), the Indianapolis based franchisor of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub, today announced first quarter 2025 financial data and other recent company highlights.
Financial highlights from the first quarter of 2025 include:
Net Income Before Taxes of
$171,885 versus a Net Loss of$86,477 for the same period in 2024. The company will not pay income taxes for a number of years due to its roughly$3.5 million Deferred Tax Asset.Total Revenue of
$3.8 million versus$3.7 million for the same period in 2024, an increase of2.6% during what is typically the slowest quarter of the year and despite unusually inclement weather during the first 2 months of 2025.Same stores sales increase in the company-owned Craft Pizza & Pub segment of
1.2% versus the same period in 2024, despite the weather conditions cited above and despite the downturn in consumer sentiment.Expenses for this venue are mostly fixed for numerous additional locations, so the margin contribution rate and the contribution to income from the company's non-traditional franchising revenue will continue to increase as more locations are opened. The contribution margin was
62.2% in the first quarter.
Additional company highlights:
Significant revenue growth in the non-traditional franchise segment is expected to continue in 2025 after the
18.8% increase in 2024; projections call for up to 60-70 new units on the heels of the 68 new units opened during the year 2024.Same store sales in the company-owned Craft Pizza & Pub segment continued to rise into the second quarter of 2025 by
2.7% in April and9.3% in May compared to corresponding months in 2024; June may likely show positive same store sales increases as well, despite the current economic climate and the uncertainty created by current events.As previously announced, the company has retained the services of a new placement agent to assist in obtaining new financing for the company, which is progressing positively. Among other uses, proceeds will be used to retire the current senior loan with Corbel Capital Partners SBIC, L.P., along with their outstanding warrants (which Corbel has indicated their desire to accomplish as well), the company's subordinated notes, and the cost of the capital raise. As previously announced, in April 2025 the company entered into an agreement with Corbel to extend the maturity of their loan to the company until June 30, 2026.
As recently announced, the Board of Directors of the company will be evaluating alternative independent accountants to serve as the company's auditor for 2025. The report on the consolidated balance sheet of the company and its subsidiaries as of December 31, 2024, and the related consolidated statements of operations, changes in stockholders' equity, and cash flows for the year ended December 31, 2024, and the related notes, provided by the company's auditor for 2024 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. The auditors for the December 31, 2023 audit expressed an unqualified and unmodified opinion on those statements as well.
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 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 and refinance the Senior Note before its maturity in 2026, 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, 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 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 continue or initiate interference in the company's business relationships, the company business could be adversely impacted
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Noble Roman's, Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited and Not Reviewed)
Assets | December 31, | March 31, | ||||||
Current assets: | (Not Reviewed) | (Not Reviewed) | ||||||
Cash | $ | 710,227 | $ | 564,637 | ||||
Employee Retention Tax Credit Receivable | 507,726 | 507,726 | ||||||
Accounts receivable - net | 586,554 | 529,648 | ||||||
Inventories | 986,975 | 983,201 | ||||||
Prepaid expenses | 194,902 | 175,148 | ||||||
Total current assets | 2,986,384 | 2,760,360 | ||||||
Property and equipment: | ||||||||
Equipment | 4,349,205 | 4,367,876 | ||||||
Leasehold improvements | 3,142,591 | 3,143,365 | ||||||
7,491,796 | 7,511,241 | |||||||
Less accumulated depreciation and amortization | 3,583,276 | 3,678,800 | ||||||
Net property and equipment | 3,908,520 | 3,832,441 | ||||||
Deferred tax asset | 3,532,199 | 3,490,947 | ||||||
Deferred contract costs | 1,604,952 | 1,597,310 | ||||||
Goodwill | 278,466 | 278,466 | ||||||
Operating lease right of use assets | 4,154,804 | 4,010,511 | ||||||
Other assets | 303,922 | 318,455 | ||||||
Total assets | $ | 16,769,247 | $ | 16,288,490 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued expenses | $ | 840,848 | $ | 535,885 | ||||
Current portion of operating lease liability | 870,140 | 923,277 | ||||||
Current portion of Corbel loan payable | 1,066,668 | 1,091,670 | ||||||
Warrant liability | 538,822 | 538,822 | ||||||
Total current liabilities | 3,316,478 | 3,089,654 | ||||||
Long-term obligations: | ||||||||
Loan payable to Corbel net of current portion | 5,551,738 | 5,368,400 | ||||||
Convertible notes payable | 575,000 | 575,000 | ||||||
Operating lease liabilities - net of current portion | 3,505,718 | 3,302,141 | ||||||
Deferred contract income | 1,604,952 | 1,597,310 | ||||||
Total long-term liabilities | 11,237,408 | 10,842,851 | ||||||
Total liabilities | $ | 14,553,886 | $ | 13,932,505 | ||||
Stockholders' equity: | ||||||||
Common Stock - no par value (40,000,000 shares authorized, 22,215,512 issued and outstanding as of December 31, 2024 and March 31, 2025) | 24,867,778 | 24,877,769 | ||||||
Accumulated deficit | (22,652,417 | ) | (22,521,784 | ) | ||||
Total stockholders' equity | 2,215,361 | 2,355,985 | ||||||
Total liabilities and stockholders' equity | $ | 16,769,247 | $ | 16,288,490 | ||||
Noble Roman's, Inc. and Subsidiaries
Consolidated Statements of Operations
(Unaudited and Not Reviewed)
Three-Months Ended March 31, | ||||||||
2024 | 2025 | |||||||
(Not Reviewed) | (Not Reviewed) | |||||||
Revenue: | ||||||||
Restaurant revenue - company-owned Craft Pizza & Pub | $ | 1,995,524 | $ | 2,019,418 | ||||
Restaurant revenue - company-owned non-traditional | 238,147 | 294,573 | ||||||
Franchising revenue | 1,425,290 | 1,445,908 | ||||||
Administrative fees and other | 7,144 | 299 | ||||||
Total revenue | 3,666,105 | 3,760,198 | ||||||
Operating expenses: | ||||||||
Restaurant expenses - company-owned Craft Pizza & Pub | 1,831,444 | 1,890,687 | ||||||
Restaurant expenses - company-owned non-traditional | 225,760 | 293,111 | ||||||
Franchising expenses | 489,667 | 546,447 | ||||||
Total operating expenses | 2,546,871 | 2,730,245 | ||||||
Depreciation and amortization | 96,266 | 96,066 | ||||||
General and administrative expenses | 577,286 | 424,405 | ||||||
Defense against activist shareholder | 13,479 | 7.843 | ||||||
Total expenses | 3,233,902 | 3,258,559 | ||||||
Operating income | 432,203 | 501,639 | ||||||
Interest expense | 394,180 | 329,754 | ||||||
Change in fair value of warrants | 124,500 | - | ||||||
Income (loss) before income taxes | (86,477 | ) | 171,885 | |||||
Income tax expense | - | 41,252 | ||||||
Net income (loss) | $ | (86,477 | ) | $ | 130,633 | |||
Earnings per share - basic | ||||||||
Net income (loss) | $ | (.00 | ) | $ | .01 | |||
Weighted average number of common shares outstanding | 22,215,512 | 22,215,512 | ||||||
Diluted earnings per share: | ||||||||
Net income (loss) | $ | (.00 | ) | $ | .01 | |||
Weighted average number of common shares outstanding | 22,215,512 | 25,278,930 | ||||||
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)
SOURCE: Noble Romans, Inc.
View the original press release on ACCESS Newswire
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