Thu, Sep 5, 8:26 PM (131 days ago)
Bowlero Corp's fiscal year 2024 results show revenue growth of 9.1%, totaling $1,154,614, primarily driven by acquisitions and group event business. However, operating profit fell significantly by 54.4% to $91,590 due to increased costs, including a 17.3% rise in cost of revenues, attributed to inflation and expanded operations. Net loss amounted to $83,581, a stark contrast to a profit of $82,048 in the previous year. The company undertook substantial acquisitions, including 22 locations, and finalized a $432,900 transaction with VICI Properties. Operating expenses surged by 57.2%, influenced by asset impairments and rising interest expenses, which increased by 60.2% to $177,611. Bowlero's financial condition remains stable with available cash of $66,972 but is burdened by substantial debt of $1,152,200. The company also initiated a quarterly common stock dividend of $0.055 per share, totaling $17,313 for the year. The outlook indicates continued investment in growth, albeit with risks from economic fluctuations and operational costs.