Bowlero Corp
For the period ended Dec 31, 2023. Filed Feb 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 5, 2024
LUCK$3.40-9.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (unaudited)
Condensed Consolidated Statements of Cash Flows
| Six Months Ended | ||
|---|---|---|
| December 31,2023 | January 1,2023 | |
| Operating activities | ||
| Net loss | $(45,250) | $(32,099) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Asset impairment | 55 | 84 |
| Depreciation and amortization | 68,423 | 55,570 |
| Gain on sale of assets, net | (6) | (1,978) |
| Income from equity method investment | (160) | (200) |
| Amortization of deferred financing costs | 1,715 | 1,856 |
| Amortization of deferred rent incentive | — | (204) |
| Non-cash interest expense on capital lease obligation | — | 5,360 |
| Non-cash interest expense on finance lease obligation | 3,709 | — |
| Non-cash operating lease expense | 16,586 | — |
| Non-cash portion of gain on lease modification | (499) | — |
| Amortization of deferred sale lease-back gain | — | (514) |
| Deferred income taxes | (7,099) | 178 |
| Share-based compensation | 5,600 | 7,684 |
| Distributions from equity method investments | 147 | 213 |
| Change in fair value of earnout liability | 23,409 | 71,536 |
| Change in fair value of marketable securities | — | (755) |
| Changes in assets and liabilities, net of business acquisitions: | ||
| Accounts receivable and notes receivable, net | (3,784) | (3,018) |
| Inventories | (2,108) | (976) |
| Prepaids, other current assets and other assets | (4,146) | (688) |
| Accounts payable and accrued expenses | 27,600 | 12,385 |
| Other current liabilities | (312) | 127 |
| Other long-term liabilities | (12,681) | 1,318 |
| Net cash provided by operating activities | 71,199 | 115,879 |
| Investing activities | ||
| Purchases of property and equipment | (113,587) | (78,111) |
| Purchases of intangible assets | (259) | (22) |
| Proceeds from sale of property and equipment | — | 6,518 |
| Proceeds from sale of intangibles | 65 | 126 |
| Purchase of marketable securities | — | (44,855) |
| Proceeds from sale of marketable securities | — | 32,921 |
| Acquisitions, net of cash acquired | (132,885) | (79,582) |
| Net cash used in investing activities | (246,666) | (163,005) |
| Six Months Ended | ||
|---|---|---|
| December 31,2023 | January 1,2023 | |
| Financing activities | ||
| Repurchase of Class A common stock into Treasury stock | $(218,669) | $(16,355) |
| Proceeds from share issuance | 1,274 | 590 |
| Payments for tax withholdings on share-based compensation | (925) | (1,491) |
| Payment of dividends on Series A preferred stock | (3,969) | — |
| Settlement of contingent consideration | — | 1,000 |
| Payment of long-term debt | (6,525) | (4,399) |
| Payment on finance leases | (3,177) | — |
| Proceeds from long-term debt | — | 15,418 |
| Proceeds from Revolver draws | 175,000 | — |
| Payoff of Revolver | (175,000) | — |
| Proceeds from sale-leaseback financing | 408,510 | 10,363 |
| Payment of deferred financing costs | (6,781) | — |
| Net cash provided by financing activities | 169,738 | 5,126 |
| Effect of exchange rates on cash | 51 | (427) |
| Net decrease in cash and cash equivalents | (5,678) | (42,427) |
| Cash and cash equivalents at beginning of period | 195,633 | 132,236 |
| Cash and cash equivalents at end of period | $189,955 | $89,809 |
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