Noble Roman's Q2 Earnings Decline; Material Weakness Persists
NROM has more than doubled off its 52-week low of $0.14.
Summary
Noble Roman's reported lower Q2 earnings and confirmed its material weakness in internal controls persists, despite completing a critical debt refinancing.
Key Events · Earnings and Guidance · NROM
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Q2 Net Income Declines 33%
Net income fell to $190,620 in Q2 2026 from $285,436 in Q2 2025, and six-month net income declined to $311,390 from $329,248.
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Material Weakness Unremediated
The material weakness in internal control over financial reporting, first disclosed in the 2025 Form 10-K, remains unremediated as of June 30, 2026.
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Interest Expense Surges
Interest expense rose to $497,168 in Q2 2026 from $421,582 a year earlier, due to expensing unamortized loan charges from the Corbel payoff.
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Refinancing Improves Liquidity
The new $6.9 million Lake Forest Bank loan improved the current ratio to 1.3-to-1 from 0.40-to-1 at year-end 2025.
Analysis · NROM · Trade & Services
Noble Roman's Q2 2026 net income fell 33% year-over-year to $190,620, driven by higher interest expense from the June refinancing. The company also disclosed that its material weakness in internal control over financial reporting remains unremediated as of June 30, 2026. While the new $6.9 million loan improved liquidity and extended debt maturity, the earnings decline and ongoing control deficiency are material concerns for investors.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 36.3% of the 1065 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NROM was trading at $0.66 on OTC in the Trade & Services sector, with a market capitalization of approximately $15M. The 52-week trading range was $0.14 to $0.77. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.