Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q3 2024 Earnings Presentation
10 slides from Accel Entertainment's earnings presentation, Oct 30, 2024
Slide 1: Third Quarter 2024 Earnings Presentation
Third Quarter 2024 Earnings Presentation October 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 $3,180 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, 2024, Accel owned and operated 25,729 gaming terminals across 4,014 locations i
Slide 4: Q3 2024 Highlights
Q3 2024 Highlights • Strong revenue of $302 million for Q3 2024, an increase of 5% compared to Q3 2023 • Q3 2024 net income of $5 million, a decrease of 53% compared to Q3 2023 − Partially attributable to a higher loss on the change in fair value of the contingent earnout shares • Adjusted EBITDA(1)
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 3,793 3,987 3,852 4,034 3,906 4,014 3,961 23,985 25,321 25,757 24,368 844 24,704 25,729 882 25,083 239 252 833 688 827 237 197 219 238 488 609 2,735 2,685 165 359 2,714 2,782 2,744 2,704 355 355 352 356 352 2,704 345 609 620 611 615 609 6,280 6,435 6,
Slide 6: 2024 Results
2024 Results $ in millions, except %s Q3 2023 Q3 2024 % Change YTD 2023 YTD 2024 % Change Locations 3,906 4,014 3% 3,906 4,014 3% Terminals 24,704 25,729 4% 24,704 25,729 4% Revenue $287 $302 5% $873 $913 5% Adj EBITDA $44 $46 4% $137 $142 4% CapEx $19 $17 -9% $60 $55 -9% Net Debt $282 $289 2% $282
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 2020 2021 2022 2023 2023 2024 Grow th 2023 2024 Grow th No. of Locations 2,435 2,584 3,741 3,961 3,906 4,014 3% 3,906 4,014 3% No. of Termin
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2023 September 30, 2024 Assets Current Assets: Cash and cash equivalents $262 $265 Other current assets 51 58 Total current assets $313 $323 Property and equipment, net 261 282 Route and customer acquisition costs, net 19 24 Location contracts acquired,
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 these non-GAAP financial measures enhance the understanding of our underlying drivers of profitabili
Slide 10: 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, 2020 2021 2022 2023 2023 2024 2023 2024 Reported Net Income (Loss) (0) 32 74 46 10 5 30 27 (+) Amortization of intangible assets and route and customer