Lucky Strike Entertainment Corporation · NYSE:LUCK
Lucky Strike Entertainment — Q3 FY2022 Earnings Presentation
13 slides from Lucky Strike Entertainment's earnings presentation, May 2022
Slide 1: Q3 FY 2022 Results Presentation
Q3 FY 2022 Results Presentation May 2022
Slide 2: Disclaimer
Disclaimer Forward-looking statements Some of the statements contained in this press release 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 statement
Slide 3: Q3 FY'22 Results: Key Messages
Q3 FY’22 Results: Key Messages ▲ Revenue increased 129.8% year over year, 25.8% vs. pre-COVID performance1 and 12.2% on a same-store basis2; Revenue trends accelerated through the week ended April 24, 2022 ▲ $83.6 million of cash from operating activities generated in Q3 FY2022 ▲ Adjusted EBITDA3 gr
Slide 4: Total Bowling Center Revenue Performance Trend
Total Bowling Center Revenue1 Performance Trend REVENUE PERFORMANCE SUMMARY vs. PRE-COVID PERFORMANCE 70% % GROWTH TOTAL REVENUE % GROWTH REVENUE EXCLUDING EVENTS 58.4% 60.2% 60% 48.4% 56.4% 50% 53.7% 43.9% 40% 32.9% 33.5% 28.4% 29.9% 30% 24.7% 26.0% 33.2% 31.3% 20% 23.1% 17.5% 25.0% 23.0% 18.3% 10%
Slide 5: Q3 FY'22 Adjusted EBITDA was 60.9% greater than comparable pre-COVID quarter
Q3 FY’22 Adjusted EBITDA was 60.9% greater than the comparable pre-COVID quarter and Adjusted EBITDA Margin expanded more than 900 bps ADJUSTED EBITDA1 ($MM) Adjusted EBITDA 32.8% 24.4% 42.0% Margin: $108 Adjusted EBITDA in Q3 '22 exceeded Q3 ‘19 +60.9% by $41.0 million or 60.9% $67 Operational effi
Slide 6: Business now materially exceeding pre-COVID levels of Adjusted EBITDA
Business now materially exceeding pre-COVID levels of Adjusted EBITDA $000'S Trailing Twelve Month Adjusted EBITDA Trailing Twelve Month Adjusted EBITDA Pre-COVID Trailing Twelve Month Adjusted EBITDA $300,000 $276,279 $250,000 $200,000 $195,295 $173,898 $150,000 $124,750 $100,000 $73,119 $50,000 $1
Slide 7: Bowling Center-level economics continue to outperform pre-COVID levels
Bowling Center-level economics continue to outperform pre-COVID levels Revenue increase vs. pre-COVID levels driven by continued Q3 significant growth in walk in retail and strong growth in event business ($MM) '22A '21A ‘19A Walk in Retail $186 $82 $137 Group Events 40 12 33 Gross Margin expansion
Slide 8: Significant cash generated from operations provides support for acquisition funding
Significant cash generated from operations provides support for acquisition funding and other investing activities ▲ $83.6mm of cash generated from operations in Q3 FY2022, net of $22.7mm in cash interest paid Three months ending Nine months ending ($ ‘000s) March 27, 2022 March 27, 2022 Cash balanc
Slide 9: Appendix
Appendix
Slide 10: Non-GAAP reconciliations
Non-GAAP reconciliations 1 The closed center adjustment is to remove EBITDA for closed centers. Closed centers are those centers that are closed for a variety of reasons, including permanent closure, newly acquired or built centers prior to opening, centers closed for renovation or rebranding and co
Slide 11: Non-GAAP reconciliations (cont'd)
Non-GAAP reconciliations (cont’d) TRAILING TWELVE MONTH ADJUSTED EBITDA RECONCILIATION Net loss - GAAP and Adjusted EBITDA (in thousands) December 29, 2019 March 28, 2021 June 27, 2021 September 26, 2021 December 26, 2021 March 27, 2022 Consolidated Revenues $693,929 $247,257 $395,234 $526,281 $657,
Slide 12: Non-GAAP reconciliations (cont'd)
Non-GAAP reconciliations (cont’d) NORMALIZED NET INCOME RECONCILIATION Three Months Ending Nine Months Ending Twelve Months Ending (in thousands) March 27, 2022 March 27, 2022 March 27, 2022 Net loss - GAAP ($17,987) ($36,877) ($50,338) Share-based compensation - de-SPAC 0 42,212 42,212 Change in va
Slide 13: Thank You
THANK YOU
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