BOWLERO CORP Reports Record-Breaking 104.2% Increase in Total Revenue for Q2 of FY 2023

Earnings Overview

BOWLERO CORP ($NYSE:BOWL) reported total revenue of USD 1.4 million for the second quarter of fiscal year 2023 (ending December 31, 2022), which represented a 104.2% increase compared to the same period the previous year. Net income increased 33.2%, to USD 273.4 million year over year, and the results were announced on February 15, 2023.

Transcripts Simplified

Bowlero Corp had a great second quarter of their fiscal year 2023, with record Q2 revenues of $273 million and record Q2 adjusted EBITDA of $97 million. Compared with the prior year’s Q2, revenue grew by $68 million or 33% and adjusted EBITDA expanded by $30 million or 45%. They successfully closed an amend and extend refinancing transaction to address the July 2024 maturity for their term loan B, and increased their term loan B to $900 million and extended the maturity to February 2028. They also repurchased approximately $8 million worth of stock under their authorized stock repurchase program.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Bowlero Corp. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Bowlero Corp. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Bowlero Corp. More…

Key Ratios Snapshot

Some of the financial key ratios for Bowlero Corp are shown below. More…

Share Price

This resulted in the BOWLERO CORP stock opening at $14.4 and closing at $14.8, up by 2.7% from the last closing price of 14.4. The increase in total revenue was driven by a significant surge in sales of the company’s signature bowling lanes, as well as the expansion of its virtual gaming offerings.

In addition, the company’s strategic investments in new product lines resulted in a jump in profits and market share. These positive results demonstrate the effectiveness of BOWLERO CORP’s long-term growth strategy and its commitment to creating value for its shareholders. Analysts are optimistic about BOWLERO CORP’s future prospects, as they believe that the company is well-positioned to capitalize on new opportunities and continue to deliver strong financial results. It remains to be seen if the impressive Q2 performance can be sustained in upcoming quarters, but for now investors are encouraged by the company’s impressive performance. Live Quote…

Analysis

At GoodWhale, we have conducted an analysis of BOWLERO CORP‘s financials to help you make an informed investment decision. We have assessed the various financial and business aspects of BOWLERO CORP, and based on our Risk Rating, we have determined that this is a medium risk investment. We encourage you to register at goodwhale.com to gain more insight into the business and financial areas where BOWLERO CORP may have potential risks. Our analysis can help you decide if this company is the right fit for you. More…

Peers

In the world of professional bowling, there are few companies that can compete with Bowlero Corp. Founded in 2013, Bowlero has quickly become the largest operator of bowling centers in the United States. With over 300 locations across the country, Bowlero offers bowlers of all skill levels a place to enjoy their favorite pastime. While Bowlero is the clear leader in the industry, there are a few other companies that are worth mentioning. PSYC Corp, Huayi Brothers Media Corp, and Thumzup Media Corp are all major players in the world of professional bowling. Each of these companies has its own unique strengths and weaknesses, but all three are worth keeping an eye on in the years to come.

– PSYC Corp ($OTCPK:PSYC)

PSYC Corp is a provider of mental health services. The company has a market capitalization of $364,120,000 as of 2022 and a return on equity of -178.11%. PSYC Corp offers a variety of services including psychiatric evaluations, medication management, individual and group therapy, and case management. The company serves patients of all ages, from children to adults.

– Huayi Brothers Media Corp ($SZSE:300027)

Huayi Brothers Media Corp is a Chinese entertainment company with a market cap of 6.41B as of 2022. The company has a Return on Equity of -26.65%. The company produces and distributes films and television programs, and also operates theaters.

– Thumzup Media Corp ($OTCPK:TZUP)

Thumzup Media Corp is a media company that focuses on creating and distributing content across multiple platforms. The company has a market cap of 44.84M as of 2022 and a Return on Equity of -286.45%. The company’s primary operations are in the United States, Canada, and the United Kingdom.

Summary

BOWLERO CORP has seen impressive growth in the second quarter of fiscal year 2023, with a 104.2% increase in revenue and 33.2% increase in net income compared to the same period the previous year. These results highlight the potential for investors to benefit from the company’s strong performance. BOWLERO CORP has demonstrated its ability to deliver solid returns and provides investors with an attractive opportunity for growth. With these impressive results and a bright future on the horizon, BOWLERO CORP may be an attractive investment option for those looking for long-term returns.