Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q3 2023 Earnings Presentation
9 slides from Accel Entertainment's earnings presentation, Nov 7, 2023
Slide 1: Third Quarter 2023 Earnings Presentation
Third Quarter 2023 Earnings Presentation November 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) $3,044 High Quality $2,534 Service Strong Track $2,030 Company Record of $1,383 $1,125 in Gaming Growth $882 $658 Vertical As of September 30, 2023, Accel owned and $458 operated 24,016 gaming terminals across 3,687 2016 2017 201
Slide 4: Q3 2023 Highlights
Q3 2023 Highlights • Revenue of $287 million, an increase of 8% compared to Q3 2022 − Illinois same store sales(1) grew 1% compared to Q3 2022 • Adjusted EBITDA(2) of $44 million, an increase of 7% compared to Q3 2022 • Repurchased $3 million of Accel Class A-1 Common Stock in Q3 2023 and $104 milli
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 1 2 4 1 2 4 2022 IL 2022 MT 2022 N 202 IL 202 MT 202 N 2022 IL 2022 MT 2022 N 202 IL 202 MT 202 N Revenue ($ in millions) Adjusted EBITDA(1) ($ in millions) $293 $293 $267 $287 $278 $46 $47 $44 $43 $43 $41 $228 $35 $197 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 20
Slide 6: 2023 Results
2023 Results $ in millions Q3 2022 Q3 2023 % Change YTD 2022 YTD 2023 % Change Locations 3,517 3,687 5% 3,517 3,687 5% Terminals 22,429 24,016 7% 22,429 24,016 7% Revenue $267 $287 8% $692 $873 26% Adj EBITDA(1) $41 $44 7% $119 $137 15% CapEx(2) $20 $19 -6% $33 $60 83% Net Debt(3) $309 $282 -9% $309
Slide 7: Historical Financial Summary
Historical Financial Summary $ in millions Tw elve Months Ended Three Months Ended Q3 Nine Months Ended YTD Decem ber 31, Septem ber 30, YoY Septem ber 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 3,517 3,687 5% 3,517 3,687 5% No. of Termin
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2022 September 30, 2023 Assets Current Assets: Cash and cash equivalents $224 $230 Other current assets 75 52 Total current assets $299 $283 Property and equipment, net 212 246 Route and customer acquisition costs, net 18 19 Location contracts acquired,
Slide 9: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Tw elve Months Ended Three Months Ended Nine Months Ended Decem ber 31, Septem ber 30, Septem ber 30, 2019 2020 2021 2022 2022 2023 2022 2023 Reported Net Income (Loss) (37) (0) 32 74 22 10 61 30 (+) Amortization of intangible assets and route and custom