Slide 1: First Quarter 2023 Earnings Presentation
First Quarter 2023 Earnings Presentation May 2023
Slide 2: Important Information
Important Information Forward-Looking Statements This presentation contains 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. All statements, other than statements of historical
Slide 3: Accel at a Glance
Accel at a Glance Average Daily Net Gaming Revenue(1) ($ in thousands) $3,104 High Quality $2,534 Service Strong Track $2,030 Company Record of $1,383 $1,125 in Gaming Growth $882 $658 Vertical As of March 31, 2023, Accel owned and $458 operated 23,497 terminals across 3,628 2016 2017 2018 2019 2020
Slide 4: Recent Highlights
Recent Highlights • Q1 2023 Revenue and Adjusted EBITDA were all-time records for Accel − Illinois Q1 2023 same store sales(1) grew 9% compared to Q1 2022 • Repurchased $4 million of Accel A-1 Common Stock in Q1 2023 and $92 million since the repurchase program was announced in November 2021(2) 1. C
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 1 2 3 1 2 3 2022 I 2022 MT 2022 N 2023 I 2023 MT 2023 N 2022 I 2022 MT 2022 N 2023 I 2023 MT 2023 N Revenue ($ in millions) Adjusted EBITDA(1) ($ in millions) $293 $267 $278 $46 $43 $43 $41 $228 $35 $197 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2022 2023 1.
Slide 6: 2023 Results
2023 Results $ in millions Q1 2022 Q1 2023 % Change Locations 2,565 3,628 41% Terminals 13,663 23,497 72% Revenue $197 $293 49% Adj EBITDA(1) $35 $46 31% CapEx(2) $7 $21 218% Net Debt(3) $147 $309 111% 1. Adjusted EBITDA is a non-GAAP financial measure that may not be comparable to other similarly t
Slide 7: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three Months Ended Q1 December 31, March 31, YoY 2019 2020 2021 2022 2022 2023 Growth No. of Locations 2,312 2,435 2,584 3,598 2,565 3,628 41% No. of Terminals 10,499 12,247 13,639 23,150 13,663 23,497 72% Net Gaming Revenue 411 301 706
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2022 March 31, 2023 Assets Current Assets: Cash and cash equivalents $224 $229 Other current assets $75 $71 Total current assets $299 $299 Property and equipment, net $212 $226 Route and customer acquisition costs, net $18 $18 Location contracts acquire
Slide 9: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Twelve Months Ended Three Months Ended December 31, March 31, 2019 2020 2021 2022 2022 2023 Reported Net Income (Loss) (37) (0) 32 74 16 9 (1) (+) Amortization of intangible assets and route and customer acquisition costs 18 23 22 17 4 5 (2) (+) Stock-ba