Bowlero Q2 Adj. EBITDA Rises; Revenue Excl. Service Fee Revenue Up 13.4%

(RTTNews) - Bowlero Corp. (BOWL) posted a second quarter net loss of $63.5 million compared to income of $1.4 million, a year ago. Adjusted EBITDA was $103.1 million compared to $97.0 million, last year.

Second quarter revenue increased 11.8% to $305.7 million. Revenue excluding service fee revenue increased 13.4% to $304.0 million. Same store revenue increased 0.2%, for the quarter.

The company reiterated financial guidance for fiscal year 2024. The company expects the third quarter to have revenue excluding service fee revenue of $335 million to $350 million and adjusted EBITDA of $128 million to $143 million.

The Board has approved the initiation of a quarterly dividend program. The Board declared an initial quarterly cash dividend of $0.055 per share of common stock for the third quarter. The dividend will be payable on March 8, 2024, to stockholders of record on February 23, 2024.

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