Accel Entertainment, Inc.

For the period ended Sep 30, 2026. Filed Nov 3, 2026.

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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.

Sep 30, 2026 · Filed Nov 3, 2026

ACEL$13.90+1.3%Stored close · as of Nov 9, 2026

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Contents

Item 1. FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except per share amounts)	Three Months EndedSeptember 30,		Nine Months EndedSeptember 30,
	2026	2025	2026	2025
Net revenues:
Net gaming	$343,393	$308,481	$1,022,193	$924,351
Amusement	4,992	4,977	16,067	16,402
Manufacturing	948	1,678	2,756	7,299
ATM fees and other	14,222	14,557	42,222	41,462
Total net revenues	363,555	329,693	1,083,238	989,514
Operating expenses:
Cost of revenue (exclusive of depreciation and amortization expense shown below)	248,985	225,511	743,221	676,741
Cost of manufacturing goods sold (exclusive of depreciation and amortization expense shown below)	499	916	1,403	3,878
General and administrative	60,954	55,600	178,558	163,482
Depreciation and amortization of property and equipment	14,098	13,339	41,787	38,735
Amortization of intangible assets and route and customer acquisition costs	6,974	6,389	20,587	19,001
Other expenses, net	3,245	2,577	9,749	9,490
Total operating expenses	334,755	304,332	995,305	911,327
Operating income	28,800	25,361	87,933	78,187
Interest expense, net	8,729	8,622	25,872	26,078
Loss from unconsolidated affiliates	12	22	42	55
(Gain) loss on change in fair value of contingent earnout shares	(5,756)	(2,170)	(2,214)	1,209
Loss on debt extinguishment	—	1,090	—	1,090
Income before income tax expense	25,815	17,797	64,233	49,755
Income tax expense	5,211	4,492	16,459	14,575
Net income	$20,604	$13,305	$47,774	$35,180
Less: Net income (loss) attributable to redeemable noncontrolling interests	30	(59)	34	(138)
Net income attributable to Accel Entertainment, Inc.	$20,574	$13,364	$47,740	$35,318
Earnings per common share:
Basic	$0.25	$0.16	$0.58	$0.41
Diluted	0.25	0.16	0.57	0.41
Weighted average number of common shares outstanding:
Basic	81,944	84,719	82,180	85,289
Diluted	83,400	86,087	83,635	86,563

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

(In thousands, except per share amounts)	Three Months EndedSeptember 30,		Nine Months EndedSeptember 30,
	2026	2025	2026	2025
Comprehensive income
Net income	$20,604	$13,305	$47,774	$35,180
Unrealized gain (loss) on interest rate hedging instruments (net of income tax benefit of $2,348, $(400), $3,170, and $(1,138), respectively)	6,207	(1,063)	8,399	(3,026)
Comprehensive income	$26,811	$12,242	$56,173	$32,154
Less: Comprehensive income (loss) attributable to redeemable noncontrolling interests	30	(59)	34	(138)
Comprehensive income attributable to Accel Entertainment, Inc.	$26,781	$12,301	$56,139	$32,292

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value and share amounts)	September 30,	December 31
	2026	2025
Assets
Current assets:
Cash and cash equivalents	$294,354	$296,566
Accounts receivable, net	13,557	14,198
Prepaid expenses	8,499	7,102
Inventories	10,248	8,231
Income taxes receivable	3,507	9,121
Interest rate hedging instruments	—	430
Other current assets	7,549	7,386
Total current assets	337,714	343,034
Property and equipment, net	363,324	350,304
Route and customer acquisition costs, net	32,227	31,147
Location contracts acquired, net	183,061	186,406
Goodwill	114,737	114,426
Other intangible assets, net	59,274	61,034
Interest rate hedging instruments, net of current	11,921	—
Other assets	21,612	17,042
Total assets	$1,123,870	$1,103,393
Liabilities, Temporary equity, and Stockholders’ equity
Current liabilities:
Current maturities of debt	$30,000	$37,583
Current portion of route and customer acquisition costs payable	3,104	2,473
Accrued location gaming expense	5,570	5,516
Accrued state gaming expense	34,697	21,065
Accounts payable and other accrued expenses	51,334	51,028
Accrued compensation and related expenses	15,243	9,946
Current portion of consideration payable	8,652	3,881
Total current liabilities	148,600	131,492
Debt, net of current maturities	536,094	569,837
Route and customer acquisition costs payable, less current portion	10,697	10,232
Consideration payable, less current portion	11,525	15,790
Contingent earnout share liability	31,463	33,676
Other long-term liabilities	13,046	9,373
Deferred income tax liability, net	63,277	59,230
Total liabilities	814,702	829,630
Temporary equity - Redeemable noncontrolling interest	4,114	4,080
Stockholders’ equity:
Preferred Stock, par value of $0.0001; 1,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2026 and December 31, 2025	—	—
Class A-1 Common Stock, par value $0.0001; 250,000,000 shares authorized; 97,001,737 shares issued and 80,853,316 shares outstanding at September 30, 2026; 96,250,980 shares issued and 82,287,349 shares outstanding at December 31, 2025	8	8
Additional paid-in capital	233,387	229,028
Treasury stock, at cost	(170,874)	(145,747)
Accumulated other comprehensive income	8,587	188
Accumulated earnings	233,946	186,206
Total stockholders' equity	305,054	269,683
Total liabilities, temporary equity, and stockholders' equity	$1,123,870	$1,103,393

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