Bowlero Corp
For the period ended Jun 30, 2024. Filed Sep 5, 2024.
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FY2024 · Filed Sep 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.
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Consolidated Statements of Cash Flows for the years ended
Consolidated Statements of Cash Flows
| Fiscal Year Ended | |||
|---|---|---|---|
| June 30,2024 | July 2,2023 | July 3,2022 | |
| Operating activities | |||
| Net (loss) income | $(83,581) | $82,048 | $(29,934) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Asset impairment | 60,211 | 1,601 | 1,548 |
| Depreciation and amortization | 145,364 | 109,405 | 106,957 |
| Loss (gain) on sale of assets, net | 1,222 | (2,240) | (4,109) |
| Income from equity method investment | (614) | (409) | (388) |
| Loss on refinance of debt | — | — | 953 |
| Loss on repurchase of warrants | — | — | 149 |
| Amortization of deferred financing costs | 3,510 | 3,238 | 3,502 |
| Non-cash interest expense on capital lease obligation | — | — | 5,098 |
| Non-cash interest expense on finance lease obligation | 9,739 | 5,736 | — |
| Reduction of operating lease right of use assets | 34,828 | 30,796 | — |
| Non-cash portion of gain on lease modification | (499) | (2,175) | — |
| Amortization of deferred rent incentive | — | — | (281) |
| Amortization of deferred sale lease-back gain | — | — | (1,015) |
| Deferred income taxes | (34,339) | (86,478) | (6,879) |
| Share-based compensation | 13,775 | 15,742 | 50,236 |
| Distributions from equity method investments | 350 | 445 | 401 |
| Change in fair value of earnout liability | 25,456 | 85,352 | 25,800 |
| Change in fair value of warrant liability | — | — | 26,840 |
| Change in fair value of marketable securities | — | (852) | — |
| Changes in assets and liabilities, net of business acquisitions: | |||
| Accounts receivable and notes receivable, net | (3,654) | (561) | (1,928) |
| Inventories | (536) | (1,007) | (1,925) |
| Prepaid expenses, other current assets and other assets | (5,971) | (3,106) | (6,301) |
| Accounts payable and accrued expenses | 14,020 | 3,370 | (409) |
| Operating lease liability | (26,189) | (19,898) | — |
| Other current liabilities | 865 | (3,585) | 6,677 |
| Other long-term liabilities | 873 | 365 | 2,678 |
| Net cash provided by operating activities | 154,830 | 217,787 | 177,670 |
| Investing activities | |||
| Purchases of property and equipment | (194,319) | (149,331) | (162,371) |
| Purchases of intangible assets | (259) | (206) | (2,427) |
| Proceeds from sale of property and equipment | — | 6,931 | 17,105 |
| Proceeds from sale of intangibles | 65 | 200 | — |
| Purchase of marketable securities | — | (44,855) | — |
| Proceeds from sale of marketable securities | — | 45,707 | — |
| Acquisitions, net of cash acquired | (191,143) | (111,664) | (72,652) |
| Net cash used in investing activities | (385,656) | (253,218) | (220,345) |
Consolidated Statements of Cash Flows
| Fiscal Year Ended | |||
|---|---|---|---|
| June 30,2024 | July 2,2023 | July 3,2022 | |
| Financing activities | |||
| Repurchase of Class A common stock into Treasury stock | $(254,309) | $(96,004) | $(31,463) |
| Repurchase of warrants | — | — | (5,375) |
| Repurchase of Series A preferred stock - Old Bowlero | — | — | (145,298) |
| Settlement of Series A preferred stock | (751) | (80,825) | — |
| Payment of cash dividends | (24,960) | (3,969) | — |
| Proceeds from issuance of Series A preferred stock | — | — | 95,000 |
| Proceeds from issuance of Class A common stock to Isos investors | — | — | 94,413 |
| Proceeds from share issuance | 1,274 | 590 | — |
| Transaction costs related to Merger recapitalization | — | — | (20,670) |
| Proceeds from PIPE Investment | — | — | 150,604 |
| Proceeds from Forward Investment | — | — | 100,000 |
| Payment to existing shareholders of Old Bowlero | — | — | (226,000) |
| Payments for tax withholdings on share-based awards | (1,473) | (5,812) | (503) |
| Consideration paid to existing option holders of Old Bowlero | — | — | (15,467) |
| Settlement of contingent consideration | — | 1,000 | — |
| Proceeds from First Lien Credit Facility Term Loan | — | 1,150,000 | — |
| Proceeds from Revolver draws | 175,000 | 100,000 | 86,434 |
| Payoff of previous First Lien Credit Facility Term Loan | — | (786,166) | — |
| Payment of long-term debt | (12,763) | (4,861) | (10,263) |
| Payment on finance leases | (6,322) | (903) | — |
| Proceeds from equipment loans | — | 15,418 | — |
| Payment of Incremental Liquidity Facility | — | — | (45,000) |
| Payoff of Revolver | (175,000) | (186,434) | (39,853) |
| Proceeds from sale-leaseback financing | 408,510 | 10,363 | — |
| Payment of deferred financing costs | (7,049) | (13,440) | (977) |
| Construction allowance receipts | — | — | 2,282 |
| Net cash provided by (used in) financing activities | 102,157 | 98,957 | (12,136) |
| Effect of exchange rates on cash | 8 | (129) | (46) |
| Net (decrease) increase in cash and cash equivalents | (128,661) | 63,397 | (54,857) |
| Cash and cash equivalents at beginning of period | 195,633 | 132,236 | 187,093 |
| Cash and cash equivalents at end of period | $66,972 | $195,633 | $132,236 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.