Noble Roman's, Inc. reported a total revenue of $3.76 million for the three months ended March 31, 2025, reflecting a 2.6% increase from $3.67 million in the same period of the previous year. The company's net income for the quarter was $130,633, or $0.01 per share, compared to a net loss of $86,477 for the first quarter of 2024. This turnaround in profitability was attributed to improved operational efficiencies and a strategic focus on expanding non-traditional franchise locations, which have shown significant growth.
The company's revenue streams included $2.02 million from company-owned Craft Pizza & Pub restaurants, a slight increase from $1.99 million in the prior year. Non-traditional restaurant revenue surged by 23.6% to $294,573, driven by the remodeling of a hospital facility that expanded its food service area. Franchising revenue also saw a modest increase, rising to $1.45 million from $1.43 million, despite previous accounting adjustments that impacted revenue recognition in 2024.
Operationally, Noble Roman's continued to expand its franchise network, opening 10 new non-traditional outlets during the quarter, with plans to open an additional 60 to 70 locations throughout 2025. The company has a significant pipeline of franchise prospects and has entered into a development agreement with Majors Management, LLC for 100 franchise locations over the next three years. This strategic focus on non-traditional franchises is expected to enhance revenue growth without a proportional increase in overhead costs.
The company has also made strides in managing its expenses, with general and administrative costs decreasing to $424,405 from $577,286 year-over-year. Interest expenses fell to $329,754 from $394,180, reflecting ongoing principal repayments on its debt. The company’s current ratio remained stable at 0.9-to-1, indicating a consistent liquidity position. Looking ahead, Noble Roman's management expressed confidence in its ability to meet financial obligations and continue its growth trajectory, particularly through the expansion of its non-traditional franchise model and the operation of existing Craft Pizza & Pub locations.
About NOBLE ROMANS INC
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