Lucky Strike Entertainment Corp

For the period ended Jun 28, 2026. Filed Aug 27, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2026 · Filed Aug 27, 2026

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

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Contents

Goodwill and Other Intangible Assets

(4)Goodwill and Other Intangible Assets

Goodwill:

The changes in the carrying amount of goodwill for the fiscal years ended June 28, 2026 and June 29, 2025:

Balance as of June 30, 2024	$833,888
Goodwill resulting from acquisitions during fiscal year 2025	10,390
Adjustments to preliminary fair values for prior year acquisitions	73
Balance as of June 29, 2025	844,351
Goodwill resulting from acquisitions during fiscal year 2026	42,886
Adjustments to preliminary fair values for prior year acquisitions	586
Balance as of June 28, 2026	$887,823

Intangible Assets:

	June 28, 2026				June 29, 2025
	Weighted average life remaining(in years)	Gross carrying amount	Accumulated amortization	Net carrying amount	Weighted average life remaining(in years)	Gross carrying amount	Accumulated amortization	Net carrying amount
Finite-lived intangible assets:
Bowlero trade name	1	$14,870	$(11,180)	$3,690	2	$14,870	$(5,366)	$9,504
Other acquisition trade names	2	1,890	(1,519)	371	3	2,510	(1,611)	899
Customer relationships	2	1,874	(1,583)	291	2	4,285	(3,541)	744
Management contracts	5	4,500	(605)	3,895	0	300	(300)	—
Non-compete agreements	2	3,284	(2,470)	814	3	3,724	(2,313)	1,411
PBA member, sponsor & media relationships	4	1,200	(762)	438	5	1,200	(651)	549
Other intangible assets	8	1,564	(750)	814	2	754	(519)	235
	3	29,182	(18,869)	10,313	2	27,643	(14,301)	13,342
Indefinite-lived intangible assets:
Liquor licenses		13,041	—	13,041		12,830	—	12,830
Lucky Strike trade name		8,360	—	8,360		8,360	—	8,360
Other trade names		18,890	—	18,890		11,030	—	11,030
		40,291	—	40,291		32,220	—	32,220
		$69,473	$(18,869)	$50,604		$59,863	$(14,301)	$45,562

The following table shows amortization expense for finite-lived intangible assets for each reporting period:

	Fiscal Year Ended
	June 28, 2026	June 29, 2025	June 30, 2024
Amortization expense	$8,293	$7,284	$7,370

The estimated aggregate amortization expense for finite-lived intangibles included in intangible assets in our consolidated balance sheet for the next five fiscal years is as follows:

	2027	2028	2029	2030	2031	Thereafter
Amortization expense	$5,528	$1,530	$1,187	$972	$802	$294

(5)Property and Equipment

As of June 28, 2026 and June 29, 2025, property and equipment consists of:

	June 28, 2026	June 29, 2025
Land	$243,981	$139,389
Buildings and leasehold improvements	956,072	754,647
Equipment, software, furniture, and fixtures	708,000	645,200
Construction in progress	23,266	27,021
	1,931,319	1,566,257
Accumulated depreciation	(693,835)	(621,340)
Property and equipment, net of accumulated depreciation	$1,237,484	$944,917

The following table shows depreciation expense related to property and equipment for each reporting period:

	Fiscal Year Ended
	June 28, 2026	June 29, 2025	June 30, 2024
Depreciation expense	$109,883	$132,122	$120,834

(6)Leases

The following table summarizes the components of the net lease cost:

	Fiscal Year Ended
Lease Costs:	Location on Consolidated Statements of Operations	June 28, 2026	June 29, 2025	June 30, 2024
Operating Lease Costs: (1)
Operating lease costs associated with master leases for locations	Primarily Location operating costs	$14,804	$17,709	$17,711
Operating lease costs associated with non-master leases for locations	Primarily Location operating costs	65,137	61,856	52,355
Percentage rental costs for locations (2)	Primarily Location operating costs	7,800	6,650	7,041
Equipment and other operating lease costs (3)	Primarily Location operating costs	8,855	4,832	6,983
Total Operating Lease Costs:		96,596	91,047	84,090
Finance Lease Costs:
Amortization of right-of-use assets	Depreciation and amortization	11,094	17,446	17,160
Interest expense	Interest expense, net	30,750	49,653	49,198
Total Finance Lease Costs:		41,844	67,099	66,358
Financing Obligation Costs:
Interest expense	Interest expense, net	41,502	40,742	28,333
Total Financing Obligation Costs:		41,502	40,742	28,333
Other Costs, Net:
Variable occupancy costs (4)	Primarily Location operating costs	60,541	68,443	60,189
Gains from modifications and terminations of operating leases	Other operating (income) expense, net	(3,276)	(903)	(499)
Other lease costs (5)	Primarily Location operating costs	1,278	811	6,866
Sublease income (6)	Revenues - Amusement & other	(4,870)	(4,748)	(5,071)
Total Other Costs, Net		53,673	63,603	61,485
Total Lease Costs, Net		$233,615	$262,491	$240,266

(1)Operating lease costs include both cash and non-cash expenses for operating leases. The operating lease costs associated with our locations are recognized evenly over the lease term, therefore, the timing of the expense may differ from the timing of actual cash payments. Cash payments and lease costs can differ due to (a) the timing of cash payments relative to the level expense, (b) non-cash adjustments as a result of purchase accounting, and (c) various other non-cash adjustments to lease costs. Please see the table below for cash paid for amounts included within our lease liabilities.

(2)Percentage rental costs for our locations primarily represent leases where we pay an extra rental amount based on a percentage of revenue in excess of predetermined revenue thresholds.

(3)Equipment and other operating lease costs primarily represent operating lease costs for equipment leases, common area maintenance charges, and other variable lease costs for operating leases where the lease payments escalate based on an index or rate.

(4)Variable occupancy costs primarily represent utilities, property insurance, and real estate taxes.

(5)Other lease costs primarily include short-term lease costs and other variable payments for various equipment leases.

(6)Sublease income primarily represent short-term leases with pro-shops and various retail tenants.

Cash Paid for amounts included in the measurement of lease liabilities was as follows:

	Fiscal Year Ended
	June 28, 2026	June 29, 2025
Cash paid for amounts included in the measurement of lease liabilities (1)
Operating leases:
Operating cash flows paid for operating leases	$74,223	$65,781
Total cash paid for operating lease liabilities	74,223	65,781
Finance leases:
Operating cash flows paid for interest portion of finance leases	27,440	47,234
Financing cash flows paid for principal portion of finance leases	1,732	1,615
Total cash paid for finance lease liabilities	29,172	48,849
Financing Obligations:
Operating cash flows paid for interest portion of financing obligations	32,981	32,402
Total cash paid for financing obligations:	32,981	32,402
Total cash amounts paid that are included in the measurement of lease liabilities:(2)	$136,376	$147,032

(1)This table includes cash paid for amounts included in the measurement of our lease liabilities. Since the lease liability only includes amounts that are contractually fixed, this table excludes cash paid for amounts that are variable in nature, such as utilities, common area maintenance, property insurance, real estate taxes, and percentage rent.

(2)The total cash amounts within the above table include deferred repayments of $2,013 for operating leases and $4,341 for finance leases for the fiscal year ended June 29, 2025. As of June 29, 2025, there wereno deferred payments remaining.

Other supplemental cash flow information related to leases was as follows:

	Fiscal Year Ended
	June 28, 2026	June 29, 2025
Supplemental Cash flow Information:
Operating Cash Flows from landlord contributions	$3,456	$10,519
Financing Cash Flows from landlord contributions	1,481	417
Purchases of operating lease assets	31,186	—
Purchases of operating lease liabilities	33,393	—
Purchases of finance lease assets	206,064	—
Purchases of finance lease liabilities	267,715	—
Other Non-cash Lease activities(1):
Lease liabilities arising from operating lease assets	34,046	75,336
Lease liabilities arising from finance lease assets	7,974	1,008

(1)The change in lease assets is substantially the same as the change in lease liabilities

For the purchase of previously leased property, the Company treated the net difference between operating lease assets and liabilities as a reduction of operating cash flows on the purchase date. Similarly, the Company treated the net difference between finance lease assets and liabilities as a reduction of financing cash flows on the purchase date. The remainder of the purchase price is being allocated to investing cash outflows.

Supplemental balance sheet information related to leases was as follows:

	Balance Sheet Location	June 28, 2026	June 29, 2025
Operating leases:
ROU Assets	Operating lease right of use assets	$514,731	$588,594
Lease liabilities, Short-term(1)	Current obligations of operating lease liabilities	35,053	33,103
Lease liabilities, Long-term	Long-term obligations of operating lease liabilities	541,360	606,692
Finance leases:
ROU Assets, net	Finance lease right of use assets, net	324,124	507,701
Lease liabilities, Short-term(1)	Other current liabilities	1,730	780
Lease liabilities, Long-term	Long-term obligations of finance lease liabilities	453,097	683,161
Financing Obligations:
Financing obligation, long-term	Long-term financing obligations	457,737	449,215

(1)Lease incentive receivables from landlords of $0 and $3,975 as of June 28, 2026 and June 29, 2025, respectively, are reflected as a reduction of the operating and finance lease liability.

The following table summarizes the weighted average remaining lease term and weighted average remaining discount rate:

Weighted average remaining lease terms in years	June 28, 2026	June 29, 2025
Operating leases	17.38	18.26
Finance leases	28.51	29.91
Financing obligations	51.92	52.91
Weighted average discount rate
Operating leases	7.45%	7.50%
Finance leases	7.34%	7.56%
Financing obligations	9.53%	9.53%

The following table summarizes the maturity of our operating leases, finance leases, and financing obligations as of June 28, 2026:

Operating leases · Finance leases · Financing obligations
2027	$73,582	$31,856	$33,659
2028	79,253	35,766	37,218
2029	67,246	33,199	35,074
2030	57,516	30,583	32,773
2031	58,401	33,628	36,418
Thereafter:	744,682	990,145	3,310,784
Total lease payments	1,080,680	1,155,177	3,485,926
Less: imputed interest	(504,267)	(700,350)	(3,028,189)
Present value of lease liability:	$576,413	$454,827	$457,737

(7)Supplemental Cash Flow Information

The table below presents supplemental cash flow information for each reporting period:

	Fiscal Year Ended
	June 28, 2026	June 29, 2025	June 30, 2024
Cash paid during the period for:
Interest	$181,643	$175,106	$172,403
Income taxes, net of refunds	9,976	2,255	3,501
Noncash investing and financing transactions:
Capital expenditures in accounts payable and accrued expenses	13,437	13,571	24,798
Change in fair value of interest rate swap, net of tax	12	(525)	(2,878)
Unsettled treasury stock trade payable	129	—	—
Accrual of paid-in-kind dividends on Series A preferred stock	7,099	3,407	—
Excise tax liability accrued on stock repurchases	317	763	2,423

See Note 6 -Leases for supplementary information relating to leasing transactions.

(8)Accounts Payable and Accrued Expenses

As of June 28, 2026 and June 29, 2025, accounts payable and accrued expenses consist of:

	June 28, 2026	June 29, 2025
Accounts Payable	$39,224	$33,863
Deferred revenue	19,645	17,804
Taxes and licenses	16,491	16,622
Compensation	16,279	13,677
Interest	15,669	9,164
Customer deposits	14,596	12,811
Insurance	14,416	13,288
Utilities	5,345	5,070
Professional fees	3,116	4,221
Other	9,480	18,668
Total accounts payable and accrued expenses	$154,261	$145,188

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