Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q1 2024 Earnings Presentation
9 slides from Accel Entertainment's earnings presentation, May 8, 2024
Slide 1: First Quarter 2024 Earnings Presentation
First Quarter 2024 Earnings Presentation May 2024
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) $3,051 $3,166 High Quality $2,534 Service Strong Track $2,030 Company Record of $1,383 $1,125 in Gaming Growth $882 $658 Vertical As of March 31, 2024, Accel owned and operated 25,321 gaming terminals across 3,987 locations in 20
Slide 4: Q1 2024 Highlights
Q1 2024 Highlights • Q1 2024 Revenue of $302 million, an increase of 3% compared to Q1 2023 • Q1 2024 Net Income of $7 million, a decrease of 19% compared to Q1 2023 • Q1 2024 Adjusted EBITDA(1) of $46 million, an increase of 0.3% compared to Q1 2023 • Repurchased $6 million of Accel Class A-1 Commo
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 3,793 3,987 3,852 3,906 3,961 23,985 25,321 24,368 24,704 25,083 833 688 827 237 197 219 238 488 609 165 2,714 2,782 2,744 2,704 355 355 352 352 2,704 345 609 610 611 609 6,280 6,252 6,276 620 6,247 6,210 2,663 2,786 2,690 2,724 2,762 14,546 15,494 14
Slide 6: 2024 Results
2024 Results $ in millions Q1 2023 Q1 2024 % Change Locations 3,793 3,987 5% Terminals 23,985 25,321 6% Revenue $293 $302 3% Adj EBITDA(1) $46 $46 0% CapEx(2) $21 $21 -4% Net Debt(3) $309 $286 -7% 1. Adjusted EBITDA is a non-GAAP financial measure that may not be comparable to other similarly titled
Slide 7: Historical Financial Summary
Historical Financial Summary $ in millions Tw elve Months Ended Three Months Ended Q1 Decem ber 31, March 31, YoY 2020 2021 2022 2023 2023 2024 Grow th No. of Locations 2,435 2,584 3,741 3,961 3,793 3,987 5% No. of Terminals 12,247 13,639 23,541 25,083 23,985 25,321 6% Net Gaming Revenue 301 706 925
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2023 March 31, 2024 Assets Current Assets: Cash and cash equivalents $262 $254 Other current assets 51 55 Total current assets $313 $309 Property and equipment, net 261 271 Route and customer acquisition costs, net 19 20 Location contracts acquired, net
Slide 9: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Tw elve Months Ended Three Months Ended Decem ber 31, March 31, 2020 2021 2022 2023 2023 2024 Reported Net Income (Loss) (0) 32 74 46 9 7 (+) Amortization of intangible assets and route and customer acquisition costs (1) 23 22 17 21 5 5 (+) Stock-based c