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Bowlero Corp

For the period ended Mar 31, 2024. Filed May 6, 2024.

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About this filing

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.

Mar 31, 2024 · Filed May 6, 2024

LUCK$3.80+1.3%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 001-40142

BOWLERO CORP.

(Exact name of registrant as specified in its charter)

Delaware98-1632024
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
7313 Bell Creek Road
Mechanicsville, Virginia23111
(Address of Principal Executive Offices)(Zip Code)

(804) 417-2000

Registrant's telephone number, including area code

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A common stock, par value $0.0001 per shareBOWLThe New York Stock Exchange

Securities registered pursuant to section 12(g) of the Act: None

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ No☒

The registrant had outstanding 90,361,083 shares of Class A common stock,58,519,437 shares of Class B common stock, and 126,387 shares of Series A preferred stock as of May 1, 2024.

Page
Part I - Financial Information
Item 1.Financial Statementsi
Condensed Consolidated Balance Sheets (unaudited)1
Condensed Consolidated Statements of Operations (unaudited)3
Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited)4
Condensed Consolidated Statements of Changes in Temporary Equity and Stockholders’ (Deficit) Equity (unaudited)5
Condensed Consolidated Statements of Cash Flows (unaudited)7
Index for Notes to Condensed Consolidated Financial Statements (unaudited)9
Notes to Condensed Consolidated Financial Statements (unaudited)10
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25
Item 3.Quantitative and Qualitative Disclosures about Market Risk33
Item 4.Controls and Procedures33
Part II - Other Information
Item 1.Legal Proceedings34
Item 1A.Risk Factors34
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds34
Item 5.Other Information34
Item 6.Exhibits and Financial Statement Schedules34
Signatures35
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