Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q2 2023 Earnings Presentation
9 slides from Accel Entertainment's earnings presentation, Aug 3, 2023
Slide 1: Second Quarter 2023 Earnings Presentation
Second Quarter 2023 Earnings Presentation August 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) $3,077 High Quality $2,534 Service Strong Track $2,030 Company Record of $1,383 $1,125 in Gaming Growth $882 $658 Vertical As of June 30, 2023, Accel owned and $458 operated 23,759 terminals across 3,655 2016 2017 2018 2019 2020
Slide 4: Recent Highlights
Recent Highlights • Q2 2023 Revenue and Adjusted EBITDA were all-time records for Accel − Revenue of $293 million, an increase of 28% compared to Q2 2022 − Adjusted EBITDA of $47 million, an increase of 9% compared to Q2 2022 − Illinois Q2 2023 same store sales(1) grew 0.4% compared to Q2 2022 • Rep
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 1 2 3 1 2 3 2022 I 2022 MT 2022 N 2023 I 2023 MT 2023 N 2022 I 2022 MT 2022 N 2023 I 2023 MT 2023 N Revenue ($ in millions) Adjusted EBITDA(1) ($ in millions) $293 $293 $267 $278 $46 $47 $43 $43 $41 $228 $35 $197 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2022
Slide 6: 2023 Results
2023 Results $ in millions Q2 2022 Q2 2023 % Change YTD 2022 YTD 2023 % Change Locations 3,489 3,655 5% 3,489 3,655 5% Terminals 22,128 23,759 7% 22,128 23,759 7% Revenue $228 $293 28% $425 $586 38% Adj $43 $47 9% $78 $93 19% EBITDA(1) CapEx(2) $6 $20 212% $13 $42 215% Net Debt(3) $282 $285 1% $282
Slide 7: Historical Financial Summary
Historical Financial Summary $ in millions Tw elve Months Ended Three Months Ended Q2 Six Months Ended YTD Decem ber 31, June 30, YoY June 30, YoY 2019 2020 2021 2022 2022 2023 Grow th 2022 2023 Grow th No. of Locations 2,312 2,435 2,584 3,598 3,489 3,655 5% 3,489 3,655 5% No. of Terminals 10,499 12
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2022 June 30, 2023 Assets Current Assets: Cash and cash equivalents $224 $233 Other current assets $75 $47 Total current assets $299 $281 Property and equipment, net $212 $236 Route and customer acquisition costs, net $18 $18 Location contracts acquired
Slide 9: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Tw elve Months Ended Three Months Ended Six Months Ended Decem ber 31, June 30, June 30, 2019 2020 2021 2022 2022 2023 2022 2023 Reported Net Income (Loss) (37) (0) 32 74 22 10 38 19 (+) Amortization of intangible assets and route and customer acquisitio