Ramen profitable means a startup makes just enough to pay the founders' living expenses. This is a different form of profitability than startups have traditionally aimed for. Traditional profitability means a big bet is finally paying off, whereas the main importance of ramen profitability is that it buys you time.
Notes
[1] The "ramen" in "ramen profitable" refers to instant ramen, which is just about the cheapest food available.
I'm with Justin, I think it's safe to say that we've made it to chicken nugget profitable.
http://paulgraham.com/ramenprofitable.html
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