Bowlero backs FY24 revenue view $1.14B-$1.19B, consensus $1.16B

The company said, “The Company reiterated financial guidance for fiscal year 2024 provided on September 11, 2023. The Company expects Revenue to be up 10% to 15% at the end of fiscal year 2024, excluding the $21 million of Service Fee Revenue from prior year revenue, which equates to $1.14 billion to $1.19 billion of Revenue. Adjusted EBITDA margin is expected to be 32% to 34%, which equates to Adjusted EBITDA of $365 million to $405 million. The Company expects second quarter fiscal year 2024 to have Revenue Excluding Service Fee Revenue of $295 million to $310 million and Adjusted EBITDA of $100 million to $110 million. The Company expects to heavily reinvest in the business in fiscal year 2024, with more than $160 million allocated to acquisitions, $40 million to new builds, and $75 million to conversions.”