Bowlero (US:BOWL)2025-05-08 11:44Financial Performance & Metrics - Total Revenue increased by 9.1% from $1,058.8 million in FY23 to $1,154.6 million in FY24[52] - Revenue excluding Service Fee Revenue grew by 10.7% from $1,037.7 million in FY23 to $1,149.2 million in FY24[52] - Total Location Revenue increased by 11.5% from $1,012.4 million in FY23 to $1,128.6 million in FY24[52] - Same Store Revenue remained relatively flat, decreasing by 0.0% from $985.9 million in FY23 to $985.9 million in FY24[52] - Adjusted EBITDA increased from $354.3 million in FY23 to $361.5 million in FY24, with a margin of 31.3%[54] Strategic Acquisitions & Growth - The company acquired AMF in 2013 for $310 million, with Lucky Strike contributing $20 million in equity[16] - Brunswick locations were acquired in 2014 for $260 million, followed by a Sale-Leaseback transaction for $200 million, reducing the net purchase price to $60 million[19, 20] - Bowl America was acquired in 2021 for a net $19 million, followed by a Sale-Leaseback in 2023 for $63 million[23, 24] Operational Improvements & Expansion - Average Unit Volumes (AUV) have increased, driven by higher Average Revenue Per Customer[35] - The company had 367 operating locations as of May 2025, strategically positioned in attractive markets across North America[26] - The company is focused on acquiring locations with land at 4-7x EBITDAR and utilizing Sale-Leasebacks to fund acquisitions[32]