Private company

POTBELLY CORP

Retail-eating places company.

Last updated Oct 18, 2026.

Overview

IndustryRetail-Eating Places
Business address680 North Lake Shore Dr., Suite 110 #100, Chicago, Il 60611²
Filer categoryAccelerated filer²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

2.4%Operating margin³

8.7%Net margin³

-5.9%Revenue growth, 2024³

69.0%Return on equity³

0.07×Debt to equity³

$379.0KFree cash flow³

Where the money goes

Where each dollar of revenue went, fiscal 2024

Other costs

Other costs84¢$388.8M
Income tax7¢$33.5M
Profit9¢$40.3M

Out of $462.6M in revenue.³

Where each dollar of operating cash went, fiscal 2024

Capital spending

Capital spending93¢$19.3M
Share buybacks7¢$1.4M

Out of $19.7M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.³

Financial statements

Revenue⁴⁵⁶⁷³$462.6M in 2024+9% since 2018

Operating income⁴⁵⁶⁷³$11.0M in 2024

Net income⁴⁵⁶⁷³$40.3M in 2024

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Revenue	$422.6M⁴	$409.7M⁵	$291.3M⁶	$380.1M⁷	$452.0M³	$491.4M³	$462.6M³
Operating income	-$10.6M⁴	-$9.2M⁵	-$71.1M⁶	-$22.5M⁷	-$3.8M³	$10.0M³	$11.0M³
Interest	$142.0K⁴	$199.0K⁵	$1.1M⁶	$963.0K⁷	$1.3M⁷	$3.3M⁷
Income tax	-$2.2M⁴	$14.2M⁵	-$6.5M⁶	$172.0K⁷	$327.0K³	$909.0K³	-$33.5M³
Net income	-$8.9M⁴	-$24.0M⁵	-$65.4M⁶	-$23.8M⁷	$4.3M³	$5.1M³	$40.3M³
Earnings per share	-$0.35⁴	-$1.01⁵	-$2.74⁶	-$0.86⁷	$0.15³	$0.18³	$1.35³
Earnings per share (diluted)	-$0.35⁴	-$1.01⁵	-$2.74⁶	-$0.86⁷	$0.15³	$0.17³	$1.31³

Total assets¹⁰⁴⁵⁶⁷³$263.1M in 2024+72% since 2018

Total liabilities¹⁰⁴⁵⁶⁷³$205.2M in 2024+256% since 2018

Shareholders’ equity¹⁰⁴⁵⁶⁷³$58.4M in 2024−39% since 2018

Cash⁵⁶⁷³$11.7M in 2024−41% since 2018

Long-term debt⁵⁶⁷³$4.0M in 2024−75% since 2020

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Cash	$19.8M⁵	$18.8M⁵	$11.1M⁵	$14.4M⁶	$15.6M⁷	$33.8M³	$11.7M³
Current assets	$39.4M¹⁰	$32.2M⁴	$23.3M⁵	$28.1M⁶	$30.5M⁷	$53.1M³	$33.2M³
Total assets	$153.2M¹⁰	$332.9M⁴	$283.4M⁵	$253.2M⁶	$245.2M⁷	$252.5M³	$263.1M³
Current liabilities	$29.0M¹⁰	$53.8M⁴	$65.6M⁵	$69.9M⁶	$68.9M⁷	$71.1M³	$65.2M³
Long-term debt			$16.0M⁵	$17.5M⁶	$8.6M⁷	$19.2M³	$4.0M³
Total liabilities	$57.7M¹⁰	$263.7M⁴	$277.9M⁵	$255.7M⁶	$240.9M⁷	$238.4M³	$205.2M³
Shareholders’ equity	$95.2M¹⁰	$68.8M⁴	$5.8M⁵	-$2.3M⁶	$4.5M⁷	$14.7M³	$58.4M³
Shares outstanding	24.1M shares¹⁰	23.6M shares⁴	24.3M shares⁵	28.4M shares⁶	28.8M shares⁷	29.4M shares³	29.9M shares³

Cash from operations⁴⁵⁶⁷³$19.7M in 2024−37% since 2018

Capital spending⁴⁵⁶⁷³$19.3M in 2024−10% since 2018

Free cash flow⁴⁵⁶⁷³$379.0K in 2024−96% since 2018

Share buybacks⁴⁵³$1.4M in 2024−94% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023	2024
Cash from operations	$31.0M⁴	$18.2M⁵	-$11.6M⁶	-$4.9M⁷	$12.5M³	$19.5M³	$19.7M³
Capital spending	$21.4M⁴	$14.4M⁵	$10.9M⁶	$9.0M⁷	$8.4M³	$17.1M³	$19.3M³
Free cash flow	$9.6M	$3.8M	-$22.5M	-$13.9M	$4.0M	$2.4M	$379.0K
Share buybacks	$22.9M⁴	$4.2M⁵	$0⁵	$0⁵	$0³	$0³	$1.4M³

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Leadership

Who has led POTBELLY CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Chief financial officer

Chief operating officer

Adam P. Noyes2023–now

201520202025

Chief executive officerRobert D. Wright Jul 29, 2020 to now¹¹
Chief executive officerAlan L. Johnson Dec 1, 2017 to Jun 26, 2020¹²
Chief executive officerAylwin B. Lewis Oct 3, 2013 to May 16, 2016¹³
PresidentRobert D. Wright Jul 29, 2020 to now¹¹
PresidentAlan L. Johnson Dec 1, 2017 to Jun 26, 2020¹²
PresidentAylwin B. Lewis Oct 3, 2013 to May 16, 2016¹³
Chief financial officerSteven Cirulis Apr 14, 2020 to now¹⁴
Chief financial officerThomas J. Fitzgerald Iii. Dec 6, 2018 to Dec 4, 2019¹⁵
Chief financial officerMichael W. Coyne May 11, 2015 to May 15, 2017¹⁶
Chief financial officerCharles C. Talbot Oct 3, 2013 to Mar 7, 2014¹⁷
Chief operating officerAdam P. Noyes Jan 6, 2023 to now¹⁸

Board members and other officers (41)

SVP, FranchisingKaren Lynette McKee Jun 20, 2023 to now¹⁹
CHIEF PEOPLE OFFICERScott Swayne Apr 28, 2021 to May 5, 2022²⁰
CHIEF DEVELOPMENT OFFICERLarry Strain Jun 4, 2021 to Jun 4, 2021²¹
CHIEF MARKETING OFFICERDavid Scott Daniels Sep 2, 2021 to now²²
SVP, Franchise & Corp DevelopDaniel Lecocq Jan 15, 2020 to Jan 6, 2021²³
SVP, Chief Operations OfficerAdam P. Noyes Sep 4, 2020 to Sep 1, 2022²⁴
SVP, Chief Information OfficerJeffrey Douglas Oct 1, 2019 to now²⁵
SVP, Information TechnologyMaryann Byrdak Mar 9, 2018 to Mar 20, 2019²⁶
SVP, Franchise DevJeffrey B. Welch Apr 20, 2018 to Apr 20, 2018²⁷
SVP, Chief Marketing OfficerBrandon P. Rhoten Jun 5, 2018 to Jan 4, 2021²⁸
Senior Vice PresidentSherry Ostrowski Mar 9, 2016 to May 15, 2017²⁹
ControllerJoshua Boyer Feb 26, 2015 to Nov 17, 2015³⁰
SVP, OperationsJulie Younglove-Webb May 11, 2015 to Jun 26, 2020³¹
Senior Vice PresidentAnne Ewing Mar 6, 2014 to Mar 13, 2018³²
SVP Operations-Spec ProjectsCarl Aaron Segal Oct 3, 2013 to Oct 11, 2013³³
SVP - OperationsJohn B. Morlock Oct 3, 2013 to Apr 18, 2016³⁴
SVP, GC and SecretaryMatthew J. Revord Oct 3, 2013 to Jan 4, 2021³⁵
SVP HR & Corp. Comm.Nancy F. Turk Oct 3, 2013 to May 15, 2017³⁶
Board memberDavid T. Pearson Apr 6, 2022 to now³⁷
Board memberJill Sutton Apr 6, 2022 to now³⁸
Board memberRobert D. Wright Jul 22, 2021 to now³⁹
Board memberDavid J. Near May 18, 2020 to now⁴⁰
Board memberAdrian M. Butler May 28, 2019 to now⁴¹
Board memberDavid W. Head Sep 3, 2019 to now⁴²
Board memberBenjamin L. Rosenzweig Apr 20, 2018 to May 24, 2021⁴³
Board memberSusan Collyns May 30, 2018 to May 30, 2018⁴⁴
Board memberJoseph Boehm Oct 12, 2017 to now⁴⁵
Board memberCarl Warschausky May 18, 2015 to May 15, 2017⁴⁶
Board memberHarvey S. Kanter Aug 11, 2015 to May 29, 2018⁴⁷
Board memberDaniel Ginsberg Feb 21, 2014 to Jun 14, 2019⁴⁸
Board memberSusan Chapman-Hughes May 19, 2014 to Jun 14, 2019⁴⁹
Board memberAnn Marie Campbell Aug 13, 2014 to May 29, 2018⁵⁰
Board memberAylwin B. Lewis Oct 3, 2013 to May 16, 2016¹³
Board memberBryant L. Keil Oct 3, 2013 to Jun 1, 2015⁵¹
Board memberDan Levitan Oct 3, 2013 to Sep 15, 2015⁵²
Board memberGerald R. Gallagher Oct 3, 2013 to May 19, 2014⁵³
Board memberMarla C. Gottschalk Oct 3, 2013 to May 24, 2021⁵⁴
Board memberPeter A. Bassi Oct 3, 2013 to May 29, 2018⁵⁵
Board memberVann A. Avedisian Oct 3, 2013 to now⁵⁶
General counselAdiya Dixon Jan 4, 2021 to now⁵⁷
General counselMatthew J. Revord Mar 7, 2014 to Mar 9, 2015⁵⁸

Timeline

Jul 29, 2020New chief executive Robert D. Wright becomes CEO¹¹
Dec 1, 2017New chief executive Alan L. Johnson becomes CEO¹²
Oct 3, 2013New chief executive Aylwin B. Lewis becomes CEO¹³

Filings

368 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 40 major events, 233 insider forms, 31 large holders, 48 other. The latest 20:

Nov 14, 2025EFFECT EDGAR
Nov 14, 2025EFFECT EDGAR
Nov 14, 2025EFFECT EDGAR
Nov 3, 202515-12G EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
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Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR
Oct 27, 20254 EDGAR

The 368 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 31 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARPOTBELLY CORP filings on SEC EDGAR
2
SEC EDGARPOTBELLY CORP filings on SEC EDGAR
3
SEC EDGARPOTBELLY CORP 10-K for fiscal 2024
4
SEC EDGARPOTBELLY CORP 10-K for fiscal 2018
5
SEC EDGARPOTBELLY CORP 10-K for fiscal 2019
6
SEC EDGARPOTBELLY CORP 10-K for fiscal 2020
7
SEC EDGARPOTBELLY CORP 10-K for fiscal 2021
8
SEC EDGARPOTBELLY CORP 10-Q for fiscal 2025
9
SEC EDGARPOTBELLY CORP 10-Q for fiscal 2025
10
SEC EDGARPOTBELLY CORP 10-K for fiscal 2018
11
SEC EDGARRobert D. Wright, Chief executive officer
12
SEC EDGARAlan L. Johnson, Chief executive officer
13
SEC EDGARAylwin B. Lewis, Chief executive officer
14
SEC EDGARSteven Cirulis, Chief financial officer
15
SEC EDGARThomas J. Fitzgerald Iii., Chief financial officer
16
SEC EDGARMichael W. Coyne, Chief financial officer
17
SEC EDGARCharles C. Talbot, Chief financial officer
18
SEC EDGARAdam P. Noyes, Chief operating officer
19
SEC EDGARKaren Lynette McKee, SVP, Franchising
20
SEC EDGARScott Swayne, CHIEF PEOPLE OFFICER
21
SEC EDGARLarry Strain, CHIEF DEVELOPMENT OFFICER
22
SEC EDGARDavid Scott Daniels, CHIEF MARKETING OFFICER
23
SEC EDGARDaniel Lecocq, SVP, Franchise & Corp Develop
24
SEC EDGARAdam P. Noyes, SVP, Chief Operations Officer
25
SEC EDGARJeffrey Douglas, SVP, Chief Information Officer
26
SEC EDGARMaryann Byrdak, SVP, Information Technology
27
SEC EDGARJeffrey B. Welch, SVP, Franchise Dev
28
SEC EDGARBrandon P. Rhoten, SVP, Chief Marketing Officer
29
SEC EDGARSherry Ostrowski, Senior Vice President
30
SEC EDGARJoshua Boyer, Controller
31
SEC EDGARJulie Younglove-Webb, SVP, Operations
32
SEC EDGARAnne Ewing, Senior Vice President
33
SEC EDGARCarl Aaron Segal, SVP Operations-Spec Projects
34
SEC EDGARJohn B. Morlock, SVP - Operations
35
SEC EDGARMatthew J. Revord, SVP, GC and Secretary
36
SEC EDGARNancy F. Turk, SVP HR & Corp. Comm.
37
SEC EDGARDavid T. Pearson, Board member
38
SEC EDGARJill Sutton, Board member
39
SEC EDGARRobert D. Wright, Board member
40
SEC EDGARDavid J. Near, Board member
41
SEC EDGARAdrian M. Butler, Board member
42
SEC EDGARDavid W. Head, Board member
43
SEC EDGARBenjamin L. Rosenzweig, Board member
44
SEC EDGARSusan Collyns, Board member
45
SEC EDGARJoseph Boehm, Board member
46
SEC EDGARCarl Warschausky, Board member
47
SEC EDGARHarvey S. Kanter, Board member
48
SEC EDGARDaniel Ginsberg, Board member
49
SEC EDGARSusan Chapman-Hughes, Board member
50
SEC EDGARAnn Marie Campbell, Board member
51
SEC EDGARBryant L. Keil, Board member
52
SEC EDGARDan Levitan, Board member
53
SEC EDGARGerald R. Gallagher, Board member
54
SEC EDGARMarla C. Gottschalk, Board member
55
SEC EDGARPeter A. Bassi, Board member
56
SEC EDGARVann A. Avedisian, Board member
57
SEC EDGARAdiya Dixon, General counsel
58
SEC EDGARMatthew J. Revord, General counsel