Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q3 2022 Earnings Presentation
10 slides from Accel Entertainment's earnings presentation, Nov 8, 2022
Slide 1: Third Quarter 2022 Earnings Presentation
Third Quarter 2022 Earnings Presentation November 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) $2,427 High Quality $2,030 Service Strong Track $1,383 Company Record of $1,125 in Gaming Growth $882 $658 $458 Vertical As of September 30, 2022, Accel owned and $353 operated 22,429 terminals across 3,517 2015 2016 2017 2
Slide 4: Recent Highlights
Recent Highlights • Illinois Q3 2022 same store sales grew 3% compared to Q3 2021 • Expanded Nebraska footprint with two acquisitions of amusement operators: − On August 1, Accel paid $9.5 million to purchase the amusement assets of VVS, Inc. − On September 9, Accel paid $2.8 million to purchase Riv
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 3,489 3,517 22,128 22,429 332 335 2,585 2,614 585 586 5,742 5,782 2,470 2,565 2,527 2,572 2,549 2,596 2,584 12,720 13,663 13,177 13,801 13,384 14,033 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 Revenu
Slide 6: 2022 Results
2022 Results $ in millions Q3 2021 Q3 2022 % Change YTD 2021 YTD 2022 % Change Locations 2,549 3,517 38% 2,549 3,517 38% Terminals 13,384 22,429 68% 13,384 22,429 68% Revenue $193 $267 38% $542 $692 28% Adj EBITDA(1) $38 $41 9% $106 $119 12% CapEx(2) $8 $20 152% $19 $33 76% Net Debt(3) $148 $309 109
Slide 7: Reaffirm Guidance
Reaffirm Guidance $ in millions 2022 Guidance(1) Locations 3,550 – 3,600 Terminals 22,700 – 23,200 Revenue $960 – $990 Adj EBITDA(2) $160 – $165 CapEx(3) $38 – $43 1. 2022 guidance includes Century’s results as of the acquisition date and assumes the results from Georgia will not be added back to ou
Slide 8: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three Months Ended Q3 Nine Months Ended YTD December 31, September 30, YoY September 30, YoY 2018 2019 2020 2021 2021 2022 Growth 2021 2022 Growth No. of Locations 1,686 2,312 2,435 2,584 2,549 3,517 38% 2,549 3,517 38% No. of Terminals
Slide 9: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2021 September 30, 2022 Assets Current Assets: Cash and cash equivalents $199 $212 Other current assets $49 $72 Total current assets $248 $284 Property and equipment, net $152 $207 Route and customer acquisition costs, net $16 $18 Location contracts acq
Slide 10: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Tw elve Months Ended Three Months Ended Nine Months Ended December 31, September 30, September 30, 2018 2019 2020 2021 2021 2022 2021 2022 Reported Net Income (Loss) 11 (37) (0) 32 11 22 25 61 (+) Amortization of intangible assets and route and customer