Noble Romans, Inc.: Noble Roman's Announces Financial Data for the 6 Months ended June 30th and other Related Updates
Noble Roman’s, Inc. (OTCQB:NROM) reported 6-month ended June 30, 2026 revenue of about $8.0M vs $7.8M in 2025, and net income after tax accrual about $311k vs $329k. A $6.9M SOFR+4% loan from Lake Forest Bank & Trust replaced prior debt, creating a one-time $353k write-off. Same-store Craft Pizza & Pub sales fell 0.8%.
How this was made
The 30-second read
Why it matters
Refinancing reduces future interest costs and increases cash, but operating performance in the company-owned Craft segment remains pressured by inflation, fuel volatility, and a spring/summer cyclospora outbreak affecting salad-related items.
Market read
Traders can reassess near-term credit and earnings trajectory using the disclosed refinancing economics and segment-level same-store sales and margin contribution changes.
What to watch
The company notes its auditor has not completed review of Q1 2026 results, so reported figures could change; also the tax benefit from a ~$3m deferred tax asset may make after-tax comparisons less informative.
Background
Noble Roman's is an OTCQB operator and franchisor of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub, and it refinanced its senior secured debt in Q2 2026.
Ticker impact
Noble Roman's reports 6-month and 3-month ended June 30, 2026 financials, including a one-time $353k write-off tied to a new $6.9m senior secured loan.
Near-term sentiment likely mixed: refinancing is credit-positive, but same-store weakness and the one-time charge can cap upside until investors focus on stabilization.
The article discloses concrete refinancing terms (SOFR+4%, 60-month amortization, lower quarterly interest cost) plus specific operating headwinds (Craft same-store sales down, depressed average check) and a defined one-time accounting impact.
Market effects
Highlights how inflation and fuel-price volatility can pressure discretionary restaurant traffic and operator capex decisions.
No direct regional market spillover beyond Indiana-related cyclospora mention affecting salad bar demand.
Iran conflict is cited as a macro driver of consumer hesitancy and fuel-cost volatility, but impact is company-specific.
Counterpoint
The franchise segment margin contribution rate rises to ~73% and interest expense is set to decline each quarter, which could offset Craft weakness if average check stabilizes.
Key entities
- companyNoble Roman's, Inc.
OTCQB operator and franchisor reporting 6-month and 3-month results ended June 30, 2026 and detailing Q2 2026 senior secured loan refinancing.
- lenderLake Forest Bank & Trust Company
Provided the new senior secured loan package of approximately $6.9 million in Q2 2026.
- executiveScott Mobley
CEO who attributed Q2 weakness to inflationary pressures and the Iranian conflict, plus cyclospora-related impacts on salad sales.
