Noble Roman's, Inc. reported a total revenue of $4.08 million for the three months ended June 30, 2025, reflecting an increase of 4.5% from $3.90 million in the same period of the previous year. For the six-month period, revenue rose to $7.84 million, up from $7.57 million year-over-year. The company's net income for the second quarter was $370,880, translating to earnings per share of $0.02, compared to a net income of $56,858, or $0.00 per share, in the prior year. For the first half of 2025, Noble Roman's net income reached $501,514, a significant recovery from a loss of $29,619 in the same period of 2024.
The financial performance was bolstered by increased revenues from both company-owned and franchised operations. Specifically, restaurant revenue from company-owned Craft Pizza & Pub locations increased to $2.32 million for the second quarter, up from $2.22 million, while non-traditional restaurant revenue also saw growth, rising to $295,025 from $236,705. Franchising revenue remained stable, with a slight increase to $1.45 million from $1.44 million in the same quarter last year. The company attributed these improvements to strategic efforts in managing operational costs and enhancing customer engagement, despite facing challenges from rising ingredient costs.
Operationally, Noble Roman's continued to expand its non-traditional franchise locations, opening 21 new outlets while closing three during the first half of 2025. The company has shifted its focus towards non-traditional franchises, which are expected to drive future growth as market conditions improve. The total number of Craft Pizza & Pub locations remains at 12, with no new openings or closures reported in the recent quarter. The company has also maintained a tight control over administrative expenses, which decreased significantly to $386,260 in the second quarter of 2025 from $570,129 in the same quarter of 2024.
Looking ahead, Noble Roman's is optimistic about its growth trajectory, particularly in the non-traditional franchise segment. The company is actively pursuing new financing options to manage its debt obligations, including a senior secured promissory note with Corbel Capital Partners, which has been extended to June 30, 2026. Management believes that the current cash flow projections will support its operational plans and obligations in the foreseeable future. However, the company remains cautious about potential market risks, including inflation and competitive pressures, which could impact its financial performance.
In summary, Noble Roman's, Inc. has demonstrated a positive turnaround in its financial results for the second quarter and first half of 2025, driven by strategic operational management and a focus on expanding its non-traditional franchise offerings. The company is positioned to capitalize on growth opportunities while navigating the challenges of the current economic landscape.
About NOBLE ROMANS INC
Noble Roman’s, Inc. develops and operates franchised and company-owned pizza restaurants, including Noble Roman’s Craft Pizza & Pub and Take-N-Bake concepts. The company focuses on high-quality, fast-service pizza and related menu items in traditional and non-traditional venues such as convenience stores and hospitals. Its business model emphasizes franchising, licensing, and operational efficiency in competitive markets across the U.S.
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