Every 10-Q that NOBLE ROMAN'S INC (NROM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NROM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NROM filings page.
Noble Roman’s, Inc. reported modest profitability for the three and six months ended June 30, 2026 while significantly reshaping its balance sheet. Total revenue for the six-month period was $8,028,547, slightly above $7,840,588 a year earlier, driven mainly by franchising revenue of $3,130,590. Net income was $190,620 for the quarter and $311,390 for the first half, with basic EPS of $0.01 for both periods.
Operating cash flow strengthened to $1,126,881 for the first half of 2026, compared with $596,983 in 2025. On June 10, 2026, the company entered a new five-year senior term loan of $6,900,427 with Lake Forest Bank & Trust, using the proceeds to repay its Corbel loan, all subordinated notes, purchase and cancel $500,000 of outstanding warrants, and pay related costs. This refinancing reduced current senior loan maturities and improved the current ratio to 1.3:1 from 0.40:1, while total liabilities decreased to $11,781,717.
Franchising remains the key profit driver with six‑month segment contribution of $2,288,949 and a margin of 73.1%, while company‑owned Craft Pizza & Pub margin contribution declined. The company carries a deferred tax asset of about $3.0 million it expects to utilize over five years. Management disclosed that a previously reported material weakness in internal control over financial reporting remains unremediated as of June 30, 2026, although financial statements are believed to fairly present results.
Noble Roman’s, Inc. reported modestly higher results for the three months ended March 31, 2026. Revenue grew to $3.9 million from $3.8 million, driven mainly by franchising and company-owned Craft Pizza & Pub restaurants.
Net income increased to $232,530 from $130,633, with basic and diluted earnings per share steady at $0.01. Franchising margin contribution improved to 72.4% of segment revenue, while Craft Pizza & Pub margin rose to 7.5%. Interest expense declined as principal on the senior note was repaid.
Liquidity remains tight with a current ratio of 0.43 and significant short-term debt, but after quarter-end the company entered a new $6.9 million five-year term loan to repay the Corbel senior note, subordinated debt, and repurchase Corbel warrants. Management believes a $3.0 million deferred tax asset is more likely than not to be fully utilized over the next five years. Management reports disclosure controls as effective while continuing to remediate previously identified internal control weaknesses.
Noble Roman’s, Inc. reported stronger results for the quarter and nine months ended September 30, 2025. Total Q3 revenue rose to $4.1 million from $3.9 million, while net income increased to $639,792 from $193,314, or basic earnings of $0.03 per share. For the first nine months, revenue reached $12.0 million and net income was $1.14 million, up from $163,695, with basic earnings of $0.05 per share.
Craft Pizza & Pub restaurants and franchising both grew modestly, with same-store sales in the full-service format up 4.2% in Q3 and 3.4% year-to-date, and franchising margins near 68% in the quarter. The company opened 31 new non-traditional franchise locations in 2025 through September and expects about 27 more by year-end. Cash from operations was $915,626 year-to-date and cash on hand was $719,500, but the balance sheet remains highly leveraged, including a $6.1 million Senior Note now classified as current as the company pursues a planned refinancing it believes can reduce interest costs without equity dilution.