Noble Roman's Inc. Reports Increase in Total Revenue to $15.1M for 2024, Driven by Strong Franchising Revenue Growth

Reuters
Jun 09, 2025
Noble Roman's Inc. Reports Increase in Total Revenue to $15.1M for 2024, Driven by Strong Franchising Revenue Growth

Noble Roman's Inc. has released its financial results for the year ended December 31, 2024. The company reported total revenues of $15.149 million, an increase from the $14.374 million reported in 2023. Notably, franchising revenue rose to $5.541 million from $4.665 million in the previous year. However, the company experienced a decline in net income, reporting a net loss of $3,174 for 2024, compared to a net income of $1.460 million in 2023. The 2023 net income included a $1.460 million refund under the ERC program, impacting the comparison. During the 12-month period, Noble Roman's saw no openings or closures of company-operated or franchised Craft Pizza & Pub restaurants, but it did open 68 new non-traditional outlets while closing 10. Total expenses increased to $13.675 million in 2024 from $10.934 million in 2023, contributing to the reduced operating income of $1.475 million, down from $3.440 million in the prior year. The company continues to focus on its non-traditional concepts, emphasizing high-quality pizza, fast service, and affordability. No specific future guidance or outlook was provided.

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