Bowlero (BOWL)2025-02-05 12:31Revenue 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]