Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q2 2024 Earnings Presentation
10 slides from Accel Entertainment's earnings presentation, Jul 30, 2024
Slide 1: Second Quarter 2024 Earnings Presentation
Second Quarter 2024 Earnings Presentation July 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 $3,194 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, 2024, Accel owned and operated 25,757 gaming terminals across 4,034 locations in 201
Slide 4: Q2 2024 Highlights
Q2 2024 Highlights • Q2 2024 record revenue of $309 million, an increase of 6% compared to Q2 2023 • Q2 2024 net income of $15 million, an increase of 46% compared to Q2 2023 • Q2 2024 record Adjusted EBITDA(1) of $50 million, an increase of 7% compared to Q2 2023 • Repurchased $9 million of Accel C
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 3,793 3,987 3,852 4,034 3,906 3,961 23,985 25,321 25,757 24,368 844 24,704 25,083 239 833 688 827 237 197 219 238 488 609 2,735 165 359 2,714 2,782 2,744 2,704 355 355 352 352 2,704 345 609 620 611 609 6,280 6,435 6,276 620 610 6,247 6,210 6,252 2,663
Slide 6: 2024 Results
2024 Results $ in millions, except %s Q2 2023 Q2 2024 % Change YTD 2023 YTD 2024 % Change Locations 3,852 4,034 5% 3,852 4,034 5% Terminals 24,368 25,757 6% 24,368 25,757 6% Revenue $293 $309 6% $586 $611 4% Adj EBITDA $47 $50 7% $93 $96 3% CapEx $20 $18 -13% $42 $38 -8% Net Debt $285 $311 9% $285 $
Slide 7: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three M onths Ended Q2 Six M onths Ended YTD December 31, June 30, YoY June 30, YoY 2020 2021 2022 2023 2023 2024 Growth 2023 2024 Growth No. of Locations 2,435 2,584 3,741 3,961 3,852 4,034 5% 3,852 4,034 5% No. of Terminals 12,247 13,6
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2023 June 30, 2024 Assets Current Assets: Cash and cash equivalents $262 $255 Other current assets 51 67 Total current assets $313 $322 Property and equipment, net 261 276 Route and customer acquisition costs, net 19 24 Location contracts acquired, net
Slide 9: Definition of Non-GAAP Financial Measures
Definition of Non-GAAP Financial Measures Accel uses non-GAAP measures as a key performance measure of the results of operations for purposes of evaluating performance internally. Management believes that these non-GAAP measures of financial results enhance the understanding of Accel’s underlying dr
Slide 10: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Twelve Months Ended Three Months Ended Six Months Ended December 31, June 30, June 30, 2020 2021 2022 2023 2023 2024 2023 2024 Reported Net Income (Loss) (0) 32 74 46 10 15 19 22 (+) Amortization of intangible assets and route and customer acquisition co