NOBLE ROMANS INC

Noble Roman's reported a slight increase in total revenue for the second quarter of 2026 to $4.12 million, while net income decreased by 33.2% to $190,620. The company significantly restructured its financial position by securing a new $6.9 million term loan, which was used to repay previous senior loans, subordinated notes, and purchase outstanding warrants. This led to a substantial increase in cash and a reduction in total liabilities on the balance sheet.

Noble Roman's Inc. announced its annual shareholder meeting will be held on September 15, 2026, to elect two directors, A. Scott Mobley and Paul W. Mobley, and to ratify Stephano Slack as the independent auditor for 2026. The definitive proxy statement details the proposals, voting procedures, and the August 10, 2026, record date for shareholders. The filing also provides information on executive and director compensation, share ownership, and corporate governance practices.

Noble Roman's Inc. reported a strong first quarter for 2026, with net income surging 78% to $232,530 and total revenue increasing 3.8% to $3.9 million. The company also successfully refinanced its Corbel loan with a new $6.9 million term loan and purchased $500,000 of outstanding warrants. Growth in franchising revenue and the opening of new non-traditional outlets, alongside a development agreement for 100 new franchise locations, underscore positive operational momentum.

Noble Roman's Inc. secured a new senior secured term loan of approximately $6.9 million from Lake Forest Bank & Trust Company, N.A. The proceeds were primarily used to repay the outstanding $5.4 million senior secured term loan with Corbel Capital Partners SBIC, L.P., including the redemption of $500,000 in associated warrants. The company also repaid $580,000 in subordinated debt and covered transaction-related fees. This new loan features a lower interest rate structure without equity components, replacing the previous debt.

Noble Roman's, Inc. filed its 2025 annual report, highlighting a strategic refocus on franchising its Noble Roman's Food Service Program to convenience store operators, driven by post-COVID-19 expansion opportunities. The company secured a development agreement with Majors Management LLC for 100 new franchise locations by September 2026. As of May 1, 2026, the company has approximately $6.1 million in debt obligations, including a $5.5 million Senior Note maturing on June 30, 2026, and is actively pursuing refinancing. The company also received a net $1.460 million Employee Retention Credit refund.