Noodles & company (NDLS)
CashFlow / TTM
Dec'19Oct'19Jul'19Apr'19Jan'19Oct'18Sep'18Jul'18Jun'18Apr'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Operating activities
Net income (loss)

1,647

2,849

-344

-6,717

-8,441

-

-8,947

-

-18,332

0

-14,212

-37,482

-82,371

-83,877

-96,149

-71,677

-30,555

-30,535

-13,386

-13,765

-5,977

6,787

7,252

11,428

10,302

10,624

7,165

6,665

0

0

0

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization

22,086

22,091

22,423

22,559

22,872

-

23,291

-

23,684

0

24,166

24,613

25,880

26,703

27,495

28,134

27,826

27,936

27,789

27,802

27,777

27,115

26,096

24,787

23,518

22,302

21,432

20,623

0

0

0

Deferred income taxes, net

68

44

-32

-38

-283

-

-721

-

-750

0

-664

-228

205

287

1,290

1,099

72

-6,251

-7,334

-8,878

-6,876

1,397

4,786

6,330

9,220

7,145

3,840

4,206

0

0

0

Restaurant impairments, closure costs and asset disposals

-

0

0

0

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Asset disposals, closure costs and restaurant impairments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Amortization of debt issuance costs

500

490

487

515

600

-

661

-

643

0

592

465

337

267

194

140

116

107

102

98

98

99

101

101

704

648

679

710

0

0

0

Stock-based compensation

2,443

2,527

3,228

3,125

2,979

-

2,553

-

2,161

0

1,796

1,514

1,491

2,415

2,269

2,319

2,454

1,693

1,656

1,469

1,338

1,290

1,351

1,330

1,193

962

4,007

4,230

0

0

0

Gain on insurance proceeds received for property damage

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

184

248

0

0

0

Changes in operating assets and liabilities:
Accounts receivable

-

0

0

0

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Inventories

625

243

137

720

541

-

676

-

670

0

308

387

431

957

682

790

830

886

1,012

1,058

1,146

1,274

1,717

1,840

1,780

1,693

1,198

1,181

0

0

0

Prepaid expenses and other assets

690

475

-465

416

-185

-

-390

-

898

0

-1,243

-332

-1,017

3,963

282

-162

755

-3,900

499

1,025

1,313

565

1,537

1,768

2,508

2,756

1,321

1,518

0

0

0

Accounts payable

406

-272

-3

679

-1,580

-

-2,381

-

-4,228

0

-2,047

-1,302

-351

2,379

1,529

-2,440

-900

-1,679

-350

2,794

4

1,681

1,679

2,661

2,152

-817

1,344

-230

0

0

0

Operating lease assets and liabilities

-2,202

-1,749

-407

-343

0

0

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,833

0

0

0

Deferred rent

-

0

0

0

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Income taxes

82

-69

-69

-89

-109

-

-24

-

74

0

86

180

601

582

1,670

564

-1,610

-1,281

-768

-193

2,019

1,269

-1,417

-24

-2,017

336

1,083

392

0

0

0

Accrued expenses and other liabilities

-1,064

-3,676

-18,528

-16,687

-16,286

-

-14,712

-

-3,209

0

-15,742

-19,105

-10,926

1,839

4,732

17,299

2,525

1,013

1,326

1,629

3,266

734

1,480

-1,431

-942

-1,232

1,317

2,651

0

0

0

Net cash provided by operating activities

30,060

26,483

11,517

6,464

5,346

-

6,163

-

15,170

0

11,174

4,102

1,744

4,225

10,982

24,737

22,684

34,131

36,859

44,506

49,460

52,572

52,096

49,027

48,625

43,019

45,930

43,634

0

0

0

Investing activities
Purchases of property and equipment

17,404

18,189

15,504

13,697

14,338

-

13,297

-

15,666

0

19,032

20,828

27,019

31,532

37,617

43,335

48,261

52,248

52,629

50,093

52,025

53,754

54,625

56,352

54,584

53,236

52,597

54,429

0

0

0

Franchise restaurant acquisition, net of cash acquired

1,387

1,387

1,387

1,387

0

0

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-18,439

-19,224

-16,039

-14,584

-13,838

-

-12,797

-

-15,666

0

-19,032

-20,828

-26,941

-30,954

-37,039

-42,757

-47,761

-52,248

-53,257

-50,721

-54,738

-70,090

-70,333

-72,060

-68,207

-53,236

-52,597

-54,429

0

0

0

Financing activities
Net repayments from swing line loan

0

-81,741

-66,272

414

101

-

84,030

-

66,873

0

0

37,015

37,015

37,015

37,015

1,000

-277,404

-162,204

-69,598

16,700

174,366

129,650

121,077

75,400

226,166

182,070

234,222

224,526

0

0

0

Net payments from swing line loan

-

0

0

-2,068

-

-

-6,239

-

-7,144

0

5,139

-96

2,028

5,083

-2,178

-1,649

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings on long-term debt

-

-

-

-

74,889

-

74,889

-

77,164

-

4,617

10,532

15,432

15,057

18,715

19,800

-257,508

-115,226

-19,657

55,600

214,082

150,755

137,748

97,400

0

0

0

-

0

0

0

Payments on finance leases

-

0

0

0

-

0

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of preferred stock and common stock warrants, net of transaction expenses (see Note 9)

-

-

-

-

-

-

0

-

0

-

-99

16,589

16,589

16,589

16,688

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock, net of transaction expenses

-

-

-

-

22,992

-

23,157

-

0

-

-2,211

29,110

29,110

29,110

31,321

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

71

2,848

2,848

2,848

2,777

0

0

0

Proceeds from exercise of stock options and employee stock purchase plan

-

-

-

0

-

-

-

-

-

0

80

-

-

-

940

1,100

4,046

36

-80

952

-1,689

2,564

3,170

2,676

4,318

3,886

2,718

1,982

0

0

0

Debt issuance costs

-

0

0

0

-

-

-1,045

-

-967

0

661

0

-564

-660

-660

0

-29

42

-96

-94

0

0

0

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-5,817

-6,091

4,220

7,296

9,786

-

6,475

-

995

0

7,249

18,265

25,324

28,078

27,464

17,904

25,027

18,004

16,694

6,355

5,138

18,821

19,207

23,971

21,241

10,309

6,357

11,182

0

0

0

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41

0

5

-29

-134

0

0

0

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

0

0

-824

-

-

-170

-

482

0

-624

1,524

122

1,265

1,343

-75

-50

-108

267

6

-232

1,291

970

938

1,659

92

-310

387

0

0

0