Slide 1: Second Quarter 2022 Earnings Presentation
Second Quarter 2022 Earnings Presentation August 2022
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 Video Gaming Revenue(1) ($ in thousands) $2,248 $2,030 High Quality Service Strong Track $1,383 Company Record of $1,125 $882 in Gaming Growth $658 $458 Vertical $353 As of June 30, 2022, Accel owned and operated 22,128 terminals across 3,489 2015 2016 2017 2018 2
Slide 4: Recent Highlights
Recent Highlights • Illinois Q2 2022 same store sales was essentially flat compared to Q2 2021 • On May 12th, the Georgia Lottery extended the Gift Card Pilot Program to all locations − Roll-out in process • Century acquisition closed on June 1st • During June, Accel commenced operations in Nebraska
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 3,489 22,128 332 2,585 585 5,742 2,470 2,565 2,527 2,572 2,549 2,584 12,720 13,663 13,177 13,801 13,384 13,639 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 IL 2022 IL 2022 MT 2022 NV 2021 IL 2022 IL 2022 MT 2022 NV Revenue ($mm) Adjusted EBITDA(1) ($mm) $228 $43 $43
Slide 6: 2022 Results
2022 Results $ in millions Q2 2021 Q2 2022 % Change YTD 2021 YTD 2022 % Change Locations 2,527 3,489 38% 2,527 3,489 38% Terminals 13,177 22,128 68% 13,177 22,128 68% Revenue $202 $228 13% $349 $425 22% Adj EBITDA(1) $43 $43 -1% $69 $78 13% CapEx(2) $9 $6 -27% $11 $13 21% Net Debt(3) $167 $282 69% $
Slide 7: Revised Guidance
Revised Guidance $ in millions 2022 Original Guidance(1) 2022 Revised Guidance(1) 2022 Revised Guidance(1) (Pro Forma Century) (Pro Forma Century) Locations 3,700 – 3,800 3,550 – 3,600 3,550 – 3,600 Terminals 23,000 – 25,000 22,700 – 23,200 22,700 – 23,200 Revenue $1,065 – $1,180 $1,070 – $1,130 $96
Slide 8: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three Months Ended Q2 Six Months Ended YTD December 31, June 30, YoY June 30, YoY 2018 2019 2020 2021 2021 2022 Growth 2021 2022 Growth No. of Locations 1,686 2,312 2,435 2,584 2,527 3,489 38% 2,527 3,489 38% No. of Terminals 7,649 10,49
Slide 9: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2021 June 30, 2022 Assets Current Assets: Cash and cash equivalents $199 $220 Other current assets $49 $68 Total current assets $248 $288 Property and equipment, net $152 $190 Route and customer acquisition costs, net $16 $18 Location contracts acquired
Slide 10: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Twelve Months Ended Three Months Ended Six Months Ended December 31, June 30, June 30, 2018 2019 2020 2021 2021 2022 2021 2022 Reported Net Income (Loss) 11 (37) (0) 32 12 22 14 38 (+) Amortization of Op Routes 15 18 23 22 6 4 12 7 (1) (+) Stock Based Co