Slide 1: First Quarter 2025 Earnings Presentation
First Quarter 2025 Earnings Presentation May 2025
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) $3,599 $3,204 $3,051 High Quality $2,534 Service Strong Track $2,030 Company Record of $1,383 in Gaming Growth $882 $1,125 Vertical As of March 31, 2025, Accel owned and operated 27,180 gaming terminals across 4,391 locations in
Slide 4: Q1 2025 Highlights
Q1 2025 Highlights • Record revenues of $324 million for Q1 2025, an increase of 7% compared to Q1 2024 • Q1 2025 net income of $15 million, an increase of 97% compared to Q1 2024 • Adjusted EBITDA(1) of $50 million for Q1 2025, an increase of 7% compared to Q1 2024 • Repurchased $10 million of Acce
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 4,391 27,180 26,346 4,267 96 26,029 614 25,757 25,729 4,034 4,014 4,117 844 588 280 310 96 708 949 844 882 948 237 267 239 252 270 833 359 2,714 2,623 2,735 2,685 2,650 355 355 356 357 Axis Title 609 618 620 615 619 6,280 6,526 6,435 6,448 6,467 2,786
Slide 6: 2025 Results
2025 Results $ in millions, except %s Q1 2024 Q1 2025 % Change Q1 2024 Q1 2025 % Change Locations 4,267 4,391 3% Revenues by State: Illinois $ 225 $ 233 4% Terminals 26,029 27,180 4% Montana 38 41 8% Revenue $302 $324 7% Nevada 29 28 -5% Adj EBITDA $46 $50 7% Louisiana - 9 N/A Nebraska 6 7 24% CapEx
Slide 7: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three Months Ended Q1 December 31, March 31, YoY 2021 2022 2023 2024 2024 2025 Growth No. of Locations 2,584 3,741 3,961 4,117 4,267 4,391 3% No. of Terminals 13,639 23,541 25,083 26,346 26,029 27,180 4% Net Gaming Revenue 706 925 1,114
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2024 March 31, 2025 Assets Current Assets: Cash and cash equivalents $281 $272 Other current assets 45 45 Total current assets $326 $316 Property and equipment, net 308 322 Route and customer acquisition costs, net 23 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 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 Twelve M onths Ended Three M onths Ended December 31, M arch 31, 2021 2022 2023 2024 2024 2025 Reported Net Income (Loss) 32 74 46 35 7 15 (+) Amortization of intangible assets and route and customer acquisition costs 22 17 21 23 5 6 (+) Stock-based comp