Bowlero Q1 FY2023 revenue $230.3M (+27.2% YoY); Adj. EBITDA $65.3M (+11% YoY)

Lucky Strike Entertainment Corp

2023-Q1 EPS reported -$0.22 revenue$230,260,000

Net loss $33.5M due to $40.8M non-cash earnout revaluation; adjusted net income $7.2M.
Same-store revenue up 19.9% YoY; event revenue grew 90% vs prior year.
Adjusted EBITDA margin 28.4%, up 1,158 bps vs pre-pandemic quarter.
Repurchased 468,103 shares at avg $11.67; total shares outstanding 162.7M as of Oct 2, 2022.
Added 3 centers in quarter; acquired 6 more post-quarter; total centers now 325.

item 2.02 item 9.01 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lucky Strike Entertainment Corp reported first quarter of fiscal year 2023, which ended on October 2, 2022 results: revenue $230.3 million, net income $33.5 million.

Period: first quarter of fiscal year 2023, which ended on October 2, 2022
Revenue: $230.3 million
Net income: $33.5 million
Result: preliminary results

Exact text from the filing

Bowlero Corp. announces strong results for the First Quarter of Fiscal Year 2023 Continued momentum in revenue and normalizing margins and seasonality driving performance: • Revenue in the first quarter was $230.3 million, growing $49.3 million, or 27.2%, year-over-year, and $81.7 million, or 55.0%, relative to pre-pandemic performance. 1 • Same-store revenue increased $34.6 million, or 19.9%, year-over-year, and grew $53.9 million, or 37.6%, vs. the comparable pre-pandemic period. 1 • Net loss for the quarter was $33.5 million, driven by the non-cash expense related to the revaluation of the earnouts from the successful de-SPAC transaction ( $40.8 million) . Adjusted for the non-cash expense, normalized Net Income was $7.2 million . 2 • Adjusted EBITDA 2 in the first quarter was $65.3 million, $6.5 million, or 11.0%, higher vs. the prior year's quarter, and $40.4 million, or 162.0%, higher relative to pre-pandemic performance. 1 • Adjusted EBITDA 2 margin was 1,158 basis points higher

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Source: SEC EDGAR

accession 0001628280-22-030137

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