Lucky Strike Entertainment Corporation · NYSE:LUCK
Lucky Strike Entertainment — Q2 FY2022 Earnings Presentation
13 slides from Lucky Strike Entertainment's earnings presentation, February 2022
Slide 1: Q2 FY 2022 Results Presentation
Q2 FY 2022 Results Presentation February 2022
Slide 2: Disclaimer
Disclaimer Forward-looking statements Some of the statements contained in this press release 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. These forward-looking statement
Slide 3: Q2 FY'22 Results Key Messages
Q2 FY’22 Results Key Messages ▲ Year over year revenue increased 177.3% and 11% vs. pre-COVID performance1 ▲ $27.7 million of cash from operating activities in Q2 FY2022 ▲ Adjusted EBITDA2 grew to $66.8 million, up 26.2% relative to pre-COVID performance and $70.5 million vs. prior fiscal year ▲ Tra
Slide 4: Total Bowling Center Revenue Performance Trend
Total Bowling Center Revenue1 Performance Trend 45% % GROWTH TOTAL REVENUE % GROWTH REVENUE EXCLUDING EVENTS 32.9% 33.5% 35% 29.9% 28.4% 26.0% 24.7% 31.3% 25% 17.5% 24.9% 23.1% 23.0% 15% 18.3% 5% 8.9% -5% -1.2% -15% -25% 9/5/2021 9/19/2021 10/3/2021 10/17/2021 10/31/2021 11/14/2021 11/28/2021 12/12/
Slide 5: Q2 FY'22 Adjusted EBITDA 26.2% greater than pre-COVID quarter
Q2 FY’22 Adjusted EBITDA was 26.2% greater than comparable pre-COVID quarter and Adjusted EBITDA Margin Expanded nearly 400bps ADJUSTED EBITDA1 ($MM) Adjusted EBITDA 28.6% 32.5% Margin: $67 Adjusted EBITDA in Q2 '22 exceeded Q2 ‘20 by $13.9 million or 26.2% +26.2% $53 Operational efficiencies drivin
Slide 6: Business Now Exceeding Pre-COVID Levels of Adjusted EBITDA
Business Now Exceeding Pre-COVID Levels of Adjusted EBITDA $000'S Trailing Fifty-Two Week Adjusted EBITDA Trailing fifty-two week Adjusted EBITDA Pre-COVID Trailing Fifty-two week Adjusted EBITDA $250,000 $200,000 $195,295 $173,898 $150,000 $124,750 $100,000 $73,119 $50,000 $27,570 $1,327 $0 Decembe
Slide 7: Bowling Center-level economics continue to outperform pre-COVID levels
Bowling Center-level economics continue to outperform pre-COVID levels Revenue increase vs. pre-COVID levels driven by significant Q2 growth in walk in retail business, and further supported by strong performances in Leagues and Events. ($MM) '22A '21A ‘20A Walk in Retail $137 $52 $109 Group Events
Slide 8: Strong cash generation from operations provided support for acquisition funding
Strong cash generation from operations provided support for our acquisition funding and other investing activities ▲ $27.7mm of cash generated from operations in Q2 FY2022, net of $23.2mm in cash interest paid Three months ending ($ ‘000s) December 26, 2021 Cash balances, beginning of period $122,06
Slide 9: Appendix
Appendix
Slide 10: Non-GAAP reconciliations
Non-GAAP reconciliations 1 The closed center adjustment is to remove EBITDA for closed centers. Closed centers are those centers that are ADJUSTED EBITDA RECONCILIATION closed for a variety of reasons, including permanent closure, newly acquired or built centers prior to opening, Thirteen week Net (
Slide 11: Non-GAAP reconciliations (cont'd)
Non-GAAP reconciliations (cont’d) TRAILING 52-WEEK ADJUSTED EBITDA RECONCILIATION Fifty-two week Net (loss) income and Adjusted EBITDA (in thousands) December 29, 2019 December 27, 2020 March 28, 2021 June 27, 2021 September 26, 2021 December 26, 2021 Net (loss) income (1,841) (167,530) (197,748) (1
Slide 12: Non-GAAP reconciliations (cont'd)
Non-GAAP reconciliations (cont’d) NORMALIZED NET INCOME RECONCILIATION Thirteen week Net (loss) income (in thousands) December 26, 2021 Net (loss) income ($34,454) Share-based compensation - de-SPAC $42,212 Change in FV of earnouts and warrants ($22,472) Transactional and other advisory costs - de-S
Slide 13: Thank You
=e THANK YOU
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