Core Points - Bowlero Hazlet has officially closed its location, which was a popular venue for bowling and events in the Hazlet community [3][4] - The closure announcement was made via Facebook, expressing gratitude to patrons for their support over the years [4][6] - The reason for the closure was attributed to the end of the lease for the Hazlet location, as confirmed by a spokesperson [4] Company Transition - Bowlero is directing former patrons to their newly renovated AMF Strathmore Lanes, located approximately 15 minutes away in the Aberdeen Town Square Center [5] - The Strathmore Lanes location is designed for both league play and special events, maintaining features familiar to Bowlero Hazlet customers [5] Community Response - Many patrons expressed their sadness and shared memories in the comments of the closure announcement, highlighting the emotional impact of the bowling alley's closure [6]

Lucky Strike Entertainment Corporation (BOWL) Q3 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants Bobby Lavan - Chief Financial OfficerThomas Shannon - Founder, Chairman & CEOLev Ekster - PresidentSteven Wieczynski - Managing DirectorMichael Kupinski - Director of ResearchMichael Swartz - Director & Equity Research Conference Call Participants Matthew Boss - Equity Research AnalystJason Tilchen - Director & Senior Equity research AnalystEric Handler - Managing Director, Media & Entertainment ...

Lucky Strike Entertainment Corporation (BOWL) Q3 2025 Earnings Call May 08, 2025 09:00 AM ET Speaker0 My is Leslie, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Lucky Strike Entertainment Third Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. Thank you. I would now like to turn the call over to Bob Levin. Please ...

May 2025 1 Forward-looking statements Some of the statements contained in this presentation are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk, assumptions and uncertainties, such as statements of our plans, objectives, expectations, intentions and forecasts. These forward-looking statements are generally identified by the use of forward-looking terminology, includin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-40142 ___________________________________ LUCKY STRIKE ENTERTAINMENT CORPORATION (Exact name of regis ...

Lucky Strike Entertainment Reports Third Quarter Results for Fiscal Year 2025 "As we head into summer, we are energized by the momentum of our Summer Season Pass program, which will drive increased traffic to our locations. Sales of the pass are already over 200% higher than this time last year, reflecting the consumers' desire for high-value entertainment in their local markets. We're also entering the season with three water parks, including our recent acquisition of Shipwreck Island in Panama City Beach, ...

Inspired by Kam's signature nickname "Bam Bam Kam," BAMMARITA features four unique flavor profiles: Lime, Cadillac, Mango, and local favorite Kiwi Strawberry. Each 6% abv (alcohol by volume) BAMMARITA flavor is made available exclusively in 12-oz CrownSleek cans. As part of the seasonal summer promotional lineup, local stores created space for BAMMARITA ahead of marketing milestones like Cinco de Mayo and Memorial Day. Consumers can now find BAMMARITA featured prominently in most major local retailers. San ...

Part I [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the period ended December 29, 2024, reflect increased revenue, positive net income, and growth in total assets [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of December 29, 2024, total assets increased to **$3.24 billion** and total liabilities to **$3.30 billion**, primarily due to growth in property and long-term debt Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 29, 2024 | June 30, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$3,239,985** | **$3,114,035** | | Cash and cash equivalents | $80,755 | $66,972 | | Property and equipment, net | $935,854 | $887,738 | | Goodwill | $841,269 | $833,888 | | **Total Liabilities** | **$3,295,725** | **$3,163,887** | | Long-term debt, net | $1,275,757 | $1,129,523 | | Long-term obligations of operating lease liabilities | $603,986 | $561,916 | | **Total stockholders' deficit** | **($179,658)** | **($177,262)** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the six months ended December 29, 2024, total revenues increased to **$560.3 million**, with net income turning positive to **$51.4 million**, largely due to fair value changes Quarterly Performance (in thousands, except per share data) | Metric | Q2 FY2025 (ended Dec 29, 2024) | Q2 FY2024 (ended Dec 31, 2023) | | :--- | :--- | :--- | | Total Revenues | $300,074 | $305,671 | | Operating Income | $46,873 | $49,477 | | Net Income (Loss) | $28,307 | ($63,469) | | Diluted EPS | $0.16 | ($0.44) | Six-Month Performance (in thousands, except per share data) | Metric | H1 FY2025 (ended Dec 29, 2024) | H1 FY2024 (ended Dec 31, 2023) | | :--- | :--- | :--- | | Total Revenues | $560,269 | $533,076 | | Operating Income | $59,819 | $54,833 | | Net Income (Loss) | $51,402 | ($45,250) | | Diluted EPS | $0.29 | ($0.32) | - A significant driver of the improved net income was the change in fair value of earnout liability, which contributed a gain of **$68.6 million** in the first six months of fiscal 2025, compared to a loss of **$23.4 million** in the same period of the prior year[14](index=14&type=chunk) [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) For the six months ended December 29, 2024, the company reported a total comprehensive income of **$49.3 million**, primarily from net income offset by other comprehensive losses Comprehensive Income (Loss) Summary (in thousands) | Description | Six Months Ended Dec 29, 2024 | Six Months Ended Dec 31, 2023 | | :--- | :--- | :--- | | Net income (loss) | $51,402 | ($45,250) | | Other comprehensive loss | ($2,117) | ($3,271) | | **Total comprehensive income (loss)** | **$49,285** | **($48,521)** | [Condensed Consolidated Statements of Changes in Temporary Equity and Stockholders' (Deficit) Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Temporary%20Equity%20and%20Stockholders'%20%28Deficit%29%20Equity) During the six months ended December 29, 2024, the stockholders' deficit increased, influenced by net income, share repurchases, and dividend payments - For the six months ended December 29, 2024, the company recorded net income of **$51.4 million**, which increased the accumulated deficit[14](index=14&type=chunk)[19](index=19&type=chunk) - The company repurchased Class A common stock for treasury at a cost of **$45.8 million** (**$38.1 million** in Q2, **$7.7 million** in Q1) and paid cash dividends of **$17.0 million** (**$8.5 million** in Q2, **$8.5 million** in Q1) during the six-month period[19](index=19&type=chunk)[23](index=23&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended December 29, 2024, operating activities provided **$68.1 million** in cash, while investing and financing activities significantly impacted overall cash flow Cash Flow Summary (in thousands) | Activity | Six Months Ended Dec 29, 2024 | Six Months Ended Dec 31, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $68,147 | $71,199 | | Net cash used in investing activities | ($133,214) | ($246,666) | | Net cash provided by financing activities | $79,099 | $169,738 | | **Net increase (decrease) in cash** | **$13,783** | **($5,678)** | - Investing activities included **$92.0 million** for purchases of property and equipment and **$42.9 million** for acquisitions[22](index=22&type=chunk) - Financing activities were highlighted by **$150.0 million** in proceeds from an Incremental Term Loan, offset by **$45.4 million** in share repurchases and **$17.0 million** in dividend payments[23](index=23&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail significant events including the company's name change, **$42.9 million** in acquisitions, a **$150 million** incremental term loan, and **$45.4 million** in share repurchases - Effective December 12, 2024, the company changed its name from Bowlero Corporation to Lucky Strike Entertainment Corporation and its stock ticker from BOWL to LUCK[28](index=28&type=chunk) - During the six months ended December 29, 2024, the Company acquired eight locations in two separate transactions for a total consideration of **$42.9 million**[46](index=46&type=chunk) - On December 17, 2024, the company entered into an amendment to its First Lien Credit Agreement, which provided for an incremental term loan of **$150 million**[61](index=61&type=chunk) - For the six months ended December 29, 2024, the company repurchased **4,037,170 shares** of Class A common stock for **$45.4 million**, with **$118.9 million** remaining available under the repurchase program[84](index=84&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **5%** revenue increase, strategic rebranding and acquisitions, and a **$150 million** term loan increase, with Adjusted EBITDA reaching **$161.7 million** for the six-month period - Recent strategic developments include: - Rebranding from Bowlero to Lucky Strike Entertainment - Completing and opening four new Lucky Strike locations - Acquiring Boomers Parks and Spectrum Entertainment Complex - Acquiring 66 acres of land adjacent to Raging Waves water park for expansion - Increasing the term loan by **$150 million**[100](index=100&type=chunk) Same-Store Revenue Comparison (in thousands) | Period | Same-Store Revenue | % Change | | :--- | :--- | :--- | | Three Months Ended Dec 29, 2024 | $280,530 | (6)% | | Six Months Ended Dec 29, 2024 | $471,074 | (3)% | Adjusted EBITDA Reconciliation (in thousands) | Period | Net Income (Loss) | Adjusted EBITDA | | :--- | :--- | :--- | | Three Months Ended Dec 29, 2024 | $28,307 | $98,757 | | Three Months Ended Dec 31, 2023 | ($63,469) | $103,126 | | Six Months Ended Dec 29, 2024 | $51,402 | $161,700 | | Six Months Ended Dec 31, 2023 | ($45,250) | $155,260 | - The company believes its financial position, cash generation, and access to capital will provide sufficient resources to fund operations, capital expenditures, acquisitions, and the share repurchase program[133](index=133&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company faces market risks including interest rate, credit, and commodity price fluctuations, mitigating interest rate risk with collars on **$800 million** of its term loan - The company is exposed to interest rate risk on its term and revolving credit facilities, where a **1.0%** change in the effective interest rate would impact annual interest expense by approximately **$12.9 million**, before considering hedging[144](index=144&type=chunk) - To manage interest rate risk, the company has interest rate collars on **$800 million** of its Term Loan, with a SOFR cap of **5.50%** and a floor around **0.94%**, maturing March 31, 2026[144](index=144&type=chunk) - The company faces commodity price risk from fluctuations in food, beverage, and energy costs, which can impact operating results if not passed on to customers[146](index=146&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of December 29, 2024, with no material changes to internal controls - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures are effective as of December 29, 2024[148](index=148&type=chunk) - No changes were made to internal control over financial reporting during the second quarter that materially affected, or are reasonably likely to materially affect, these controls[149](index=149&type=chunk) Part II [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine legal proceedings, which management believes will not materially adversely affect its financial position or operations - The company is involved in various inquiries, claims, and lawsuits incidental to its business, but management believes their disposition will not have a material adverse effect on the company's financials[70](index=70&type=chunk)[151](index=151&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred in the company's risk factors since the filing of its Annual Report on Form 10-K for the fiscal year ended June 30, 2024 - No material changes have occurred in the company's risk factors since the filing of its Annual Report on Form 10-K for the year ended June 30, 2024[152](index=152&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the quarter ended December 29, 2024, the company repurchased **3,334,976 shares** of Class A common stock, with **$118.9 million** remaining for future repurchases Issuer Purchases of Equity Securities (Quarter Ended Dec 29, 2024) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Sep 30 - Nov 3, 2024 | 242,700 | $10.75 | | Nov 4 - Dec 1, 2024 | 2,559,561 | $11.48 | | Dec 2 - Dec 29, 2024 | 532,715 | $10.87 | | **Total** | **3,334,976** | **$11.33** | - As of December 29, 2024, the remaining value of shares that may be purchased under the repurchase program is **$118,941,000**[154](index=154&type=chunk) [Exhibits](index=38&type=section&id=Item%206.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists exhibits filed with the Form 10-Q, including documents related to the corporate name change, credit agreement amendments, and officer certifications - Filed exhibits include documents related to the corporate name change, an amendment to the credit agreement for an incremental term loan, and officer certifications[156](index=156&type=chunk)

Revenue Performance - Revenue decreased 1.8% to $300.1 million from $305.7 million in the previous year[4] - Same Store Revenue decreased 6.2% versus the prior year[4] - Total revenues for the three months ended December 29, 2024, were $300.074 million, a decrease of 1.8% compared to $305.671 million for the same period in 2023[20] - Same store revenue decreased by 6.2% year-over-year, from $299.065 million in December 31, 2023, to $280.530 million in December 29, 2024[24] Net Income and EBITDA - Net income of $28.3 million compared to a loss of $63.5 million in the prior year[4] - Net income for the three months ended December 29, 2024, was $28.307 million, compared to a net loss of $63.469 million for the same period in 2023[20] - Adjusted EBITDA of $98.8 million versus $103.1 million in the prior year[4] - Adjusted EBITDA for the three months ended December 29, 2024, was $98.757 million, with an adjusted EBITDA margin of 32.9%, compared to $103.126 million and 33.7% in the same period of 2023[25] Future Guidance - Fiscal Year 2025 guidance expects total Revenue to increase mid-single digits to over 10%, equating to $1.23 billion to $1.28 billion[7] - Adjusted EBITDA margin is expected to be between 32% to 34%, translating to $390 million to $430 million[7] Shareholder Returns - The company repurchased 5.1 million shares for approximately $56 million, with $101 million remaining under the share repurchase program[5] - A quarterly cash dividend of $0.055 per share was declared for the second quarter of fiscal year 2025[6] Cash and Debt Position - Cash and cash equivalents at the end of the period on December 29, 2024, were $80.755 million, an increase from $66.972 million at June 30, 2024[23] - Net cash provided by operating activities for the six months ended December 29, 2024, was $68.147 million, compared to $71.199 million for the same period in 2023[22] - The company reported a net debt of $1.218 billion as of December 29, 2024, compared to $1.085 billion as of June 30, 2024[23] - Interest expense for the three months ended December 29, 2024, was $48.795 million, compared to $46.236 million for the same period in 2023[20] - The company had a total cash on hand and revolving borrowing capacity of $397.171 million as of December 29, 2024[23] Expansion and Acquisitions - Four new Lucky Strike centers opened, generating over $1 million in revenue each within their first 30 days[3] - The company acquired Boomer's, adding six family entertainment centers and one water park to its portfolio[3]

Core Insights - Numerator's analysis reveals consumer behavior trends related to Super Bowl LIX, highlighting changes in viewing habits, party planning, and brand preferences among fans [1][2] Consumer Behavior and Viewing Trends - 65% of U.S. consumers plan to watch Super Bowl LIX, an increase of 4 percentage points from the previous year [4] - Popular viewing options include watching at home (77%, -5 points), hosting gatherings (29%, +12 points), and attending gatherings (17%, +1 point) [4] - 46% of viewers support the Philadelphia Eagles, while 39% back the Kansas City Chiefs [4] - Interest in the halftime show has decreased, with only 42% looking forward to it, down 6 points from last year [4] Demographics and Psychographics - NFL fans are predominantly older, high-income males, with a 16% higher likelihood of earning over $125k compared to average consumers [4] - Philadelphia Eagles fans are younger and more diverse, with 60% more likelihood of being Black and 24% more likely to be Millennials [4][5] Brand Preferences and Consumption Patterns - Budweiser is the most anticipated brand for commercials, with 44% of respondents looking forward to their ads [4] - Soda is the most popular beverage choice for Super Bowl celebrations (48%), followed by beer (40%) [4] - Easy-to-eat foods are preferred, with chips (47%) and dips (42%) being the most popular choices [4] Advertising and Media Consumption - NFL fans watch TV for over three hours daily, with 50% exceeding this duration [8] - NFL fans are 30% more likely to watch live programming and 72% more likely to tune into ESPN [8] - Social media is heavily utilized, with 82% of NFL fans using Facebook and 56% using Instagram [8] Beer Brand Preferences - Chiefs fans prefer Michelob Ultra (28%) and Coors (23.9%), while Eagles fans favor Miller (23.9%) and Corona (21%) [6][8] - Local breweries also have significant popularity among fans, with Boulevard Brewing being five times more popular with Chiefs fans [8]