Bowlero reports Q4 adjusted EBITDA $83.4M vs. $64.5M last year.

Reports Q4 revenue $283.9M, consensus $274.4M. Same Store Revenue increased 6.9% to $242.5M from last year. “We ended fiscal year 2024 on a high note with a superior same-store-sales comp and total growth. Our proven ability to deploy capital across our portfolio and operate acquired assets more efficiently while investing in our people and brand showed results with Adjusted EBITDA growing 29%+ year-over-year in the quarter,” said Thomas Shannon, Founder, Chairman, and CEO. “Season Pass sales across our portfolio hit a record $11 million and helped drive consumer traffic. We also saw an increase in customer satisfaction from the ancillary benefits of the passes, including in arcade play and food promotions. The enormous success of the Summer Pass has compelled us to offer a Fall Season Pass for October and November prior to the holiday and winter push. Bowlero’s primary strength is its ability to optimize assets through efficiencies, analytics and now scale, resulting in class-leading returns on invested capital. This year, we acquired 22 locations, including the flagship Lucky Strike locations and the 60-acre Raging Waves waterpark in Yorkville, Illinois. The initial results of these acquisitions have been outstanding, including record profitability at Lucky Strike and double digit year-over-year revenue growth at Raging Waves. We expect to achieve returns similar to our successes with the acquisitions of centers from AMF, Brunswick, Bowl America, and 40+ independents. Recently, economic factors have increased M&A opportunities, and we expect to continue executing our playbook of buying assets at attractive prices and systemically improving them. We are offsetting slight weakness in the consumer with what we believe are market share gains in the location-based entertainment sector. We expect low to mid single-digit positive same-store-sales comp in the upcoming year.”