Bowlero Corp. (BOWL) Misses Q1 EPS, Revenue Beat
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Bowlero Corp. Announces Strong Results for the First Quarter of Fiscal Year 2023
November 16, 2022 4:05 PM ESTContinued momentum in revenue and normalizing margins and seasonality driving performance:
Revenue in the first quarter was $230.3 million, growing $49.3 million, or 27.2%, year-over-year, and $81.7 million, or 55.0%, relative to pre-pandemic performance. 1 Same-store revenue increased $34.6 million, or 19.9%, year-over-year, and grew $53.9 million, or 37.6%, vs. the comparable pre-pandemic period.1 Net loss for the quarter was $33.5 million, driven by the non-cash expense related to the revaluation of the earnouts from the successful de-SPAC transaction ($40.8 million). Adjusted for the non-cash expense, normalized Net Income was $7.2... More