Lucky Strike Entertainment Corporation · NYSE:LUCK
Lucky Strike Entertainment — Q1 2022 Earnings Presentation
13 slides from Lucky Strike Entertainment's earnings presentation, Nov 15, 2021
Slide 1: Q1 FY 2022 Results Presentation
Q1 FY 2022 Results Presentation November 2021
Slide 2: Disclaimer
Disclaimer 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. These forward-looking statements
Slide 3: Q1 FY'22 results key messages
Q1 FY’22 results key messages Significant growth in quarterly Leisure revenue (+22%) relative to pre-COVID performance1 Leisure revenue growth driven by growth in Bowling & Shoe (+19%), Food & Beverage (+23%) and Amusements (+55%) relative to pre-pandemic performance Adjusted EBITDA2 for the q
Slide 4: Leisure revenue production momentum continues
Leisure revenue production momentum continues LEISURE REVENUE1 % GROWTH / (DECLINE) 2021 VS. 2019 Grow by revenue stream vs. 2019 April May June July August September Retail Bowling 1% 12% 20% 26% 25% 46% League Bowling (43%) (20%) (15%) (8%) (12%) (21%) Event Bowling (1%) 1% 1% 20% 11% 1% Food & Be
Slide 5: Strong and improving center-level economics
Strong and improving center-level economics Performed better than plan across all center level metrics Q1 ($MM) '22A '22E ‘20A Center Level EBITDAR increased 48% versus pre-pandemic Bowling & shoe $93 $91 $78 Food & Beverage 60 57 49 Center gross profit and Center level EBITDAR margins expande
Slide 6: Q1 FY'22 Adjusted EBITDA was 140% greater than comparable pre-COVID quarter
Q1 FY’22 Adjusted EBITDA was 140% greater than comparable pre-COVID quarter ADJUSTED EBITDA1 ($MM) Adjusted EBITDA1 in Q1 '22 exceeded Q1 ‘20 by nearly $34mm or 140% Margin: 17.0% 33.4% $59 Total Bowling & Shoe and Amusements revenues were 19% and 55% higher than pre-pandemic levels, respectivel
Slide 7: Robust momentum and rapid recovery continues in FY2022
Robust momentum and rapid recovery continues in FY2022 TTM ADJUSTED EBITDA1 ($MM) +52mm or +71% recovery in TTM Adjusted EBITDA vs. previous quarter, representing 77% of FY’19A $162 pre-COVID performance $125 +$52mm $73 FY '19A FY'21A TTM Q1 FY'22A (pre-COVID) 1 See Appendix for definition of Adjust
Slide 8: Strong cash generation from operations strengthened our financial position
Strong cash generation from operations strengthened our financial position and provided support for our acquisition funding $55mm of cash generated from operations in Q1 FY2022 Three months ending ($ ‘000s) September 26, 2021 Cash balances, beginning of period $187,093 Operating activities, net1 5
Slide 9: Appendix
Appendix
Slide 10: Non-GAAP reconciliations
Non-GAAP reconciliations Q1 ($MM) FY2022A FY2020A Consolidated net (loss) income $16 ($20) Adjustments: Interest expense 23 20 Income tax expense (benefit) (6) 0 Depreciation and amortization 23 21 Share-based compensation 1 1 Closed center EBITDA1 0 1 Foreign currency exchange (gain) loss 0 0 Asset
Slide 11: Non-GAAP reconciliations (cont'd)
Non-GAAP reconciliations (cont’d) ($MM) FY2019 FY2021 TTM Q1FY 2022 Net (loss) income ($5) ($126) ($70) Adjustments: Interest expense 61 89 91 Income tax expense (benefit) 2 (1) (7) Depreciation and amortization 92 92 92 Share-based compensation 3 3 3 Closed center EBITDA1 (3) 4 4 Foreign currency e
Slide 12: Non-GAAP reconciliations (cont'd)
Non-GAAP reconciliations (cont’d) ($ ‘000s) Three months ending September 26, 2021 Net cash provided by operating activities $31,540 Business Interruption Insurance proceeds 0 Interest on debt 22,928 Effect of exchange rates on cash 61 Operating activities, net $54,529 Fiscal year ending Three month
Slide 13: Thank You
THANK YOU
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