Document
Lucky Strike Entertainment Reports Fourth Quarter and Full Year Results for Fiscal Year 2026
•Total Revenue Growth of 0.9% in Fourth Quarter 2026
•Continued expansion of Lucky Strike brand with 159 current Lucky Strike locations
•Continued efforts to deploy capital efficiently, driving long-term returns
RICHMOND, VA. August 27, 2026 – Lucky Strike Entertainment (NYSE: LUCK), one of the world’s premier owner/operators of location-based entertainment, today provided financial results for the fourth quarter and full year of fiscal year 2026, which ended on June 28, 2026.
Quarter Highlights:
•Total revenue increased 0.9% to $303.9 million versus 4Q25
•Same-Store Revenue decreased 2.5% versus 4Q25
•Net loss of $26.2 million versus net loss of $74.7 million in 4Q25
•Adjusted EBITDA of $74.1 million versus $88.7 million in 4Q25
Fiscal Year Highlights:
•Revenue increased 3.7% to $1,245.3 million versus the prior year
•Same Store Revenue decreased 0.2% versus the prior year
•Net loss of $35.8 million versus prior year net loss of $10.0 million
•Adjusted EBITDA of $333.2 million versus prior year of $367.7 million
•Added six locations during the fiscal year, five through acquisitions and one new build. Additionally, closed five underperforming locations
•Total locations in operation as of August 27, 2026, were 366
“Fiscal 2026 marked a meaningful step forward for our business, with our strongest same-store sales performance in years and clear momentum across many of our key revenue streams,” said Thomas Shannon, Founder and CEO. “Importantly, that momentum is broadening. Cumulative organic growth was positive through the first eleven months of the fiscal year, with June driving the full-year decline. Leagues grew and accelerated through the spring, food remained strongly positive, retail bowling continued to grow, and Events turned positive in late spring for the first time in years and remained positive throughout the summer. It is the strongest sustained performance we have seen from that business in a long time.”
“June temporarily interrupted that progress. The first World Cup on American soil in a generation drew millions of consumers to their screens on nights they would typically be out, resulting in sharply negative comps for the month and pulling an otherwise positive quarter and year slightly below zero. We believe it is important to distinguish that temporary disruption from the underlying health of the business. Trends improved immediately following the World Cup Final, and this headwind will not repeat next summer. At our waterparks, a cool and wet start to the summer pressured attendance, but strong pricing and disciplined cost management helped protect profitability.”
“Waterparks represented the biggest operational step forward for us this summer. A year ago, we directly managed only a couple of parks. This summer, we operated a diverse portfolio, including our newest park in
Los Angeles, and the organization executed exceptionally well. Per-capita spending increased meaningfully, labor costs declined as we aligned staffing more closely with demand, and both revenue and profitability grew substantially year over year. Importantly, the majority of the summer earnings contribution will be recognized in our September quarter.”
“I have described our business as a coiled spring, and that is exactly how we see it. We are pairing operating momentum with a structurally more disciplined approach to capital allocation. Capital expenditures are down approximately $80 million from their fiscal 2024 peak, and we expect to continue reducing capital spending as we further rationalize the portfolio and complete several existing investment programs. That creates a clear path to meaningfully higher free cash flow and accelerated deleveraging as earnings improve. As we enter fiscal 2027, our guidance is intentionally prudent and reflects the way we are approaching the current environment. We believe the combination of operating momentum, declining capital intensity and financial discipline positions us to deliver profitable growth, stronger free cash flow and a meaningfully improved balance sheet.”
Fiscal Year 2027 Guidance
We remain focused on delivering sustainable, profitable growth and creating meaningful long-term shareholder value. Our strategy is centered on accelerating revenue growth, expanding operating cash flow, and driving higher free cash flow per share through earnings growth and disciplined capital allocation. Looking ahead, our outlook reflects continued organic revenue growth, targeted investments in marketing and technology to strengthen our platform, and incremental contributions from our waterparks in FY27. Together, these initiatives position us to generate stronger cash flow, improve returns on invested capital, and build a more durable earnings growth profile.
Total Revenue Growth: 3% to 5%
Total Revenue: $1,280M to $1,310M
Adjusted EBITDA: $340M to $360M
Capital Expenditures: Approximately $90M
Dividend Declaration
On August 27, 2026, the Board of Directors declared a quarterly cash dividend of $0.06 per share of common stock for the first quarter of fiscal year 2027. The dividend will be payable on September 22, 2026, to stockholders of record on September 8, 2026.
Investor Webcast Information
Listeners may access an investor webcast hosted by Lucky Strike Entertainment. The webcast and results presentation will be accessible at 9:00 AM ET on August 27, 2026, in the Events & Presentations section of the Lucky Strike Entertainment Investor Relations website at https://ir.luckystrikeent.com/
About Lucky Strike Entertainment
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The Company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.
Forward Looking Statements
Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk, assumptions, and uncertainties, such as statements of our plans, objectives, expectations, intentions, and forecasts. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs, and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: our ability to design and execute our business strategy; changes in consumer preferences and buying patterns; our ability to compete in our markets; the occurrence of unfavorable publicity; risks associated with long-term non-cancellable leases for our locations; our ability to retain key managers; risks associated with our substantial indebtedness and limitations on future sources of liquidity; our ability to carry out our expansion plans; our ability to successfully defend litigation brought against us; failure to hire and retain qualified employees and personnel; cybersecurity breaches, cyber-attacks and other interruptions to our and our third-party service providers’ technological and physical infrastructures; catastrophic events, including war, terrorism and other conflicts; public health emergencies and pandemics, such as the COVID-19 pandemic, or natural catastrophes and accidents; fluctuations in our operating results; economic conditions, including the impact of increasing interest rates, inflation and recession; and other factors described under the section titled “Risk Factors” in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company on August 27, 2026, as well as other filings that the Company will make, or has made, with the SEC, such as Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, except as required by applicable law.
Non-GAAP Financial Measures
To provide investors with information in addition to our results as determined under Generally Accepted Accounting Principles (“GAAP”), we disclose Same Store Revenue and Adjusted EBITDA as “non-GAAP measures”, which management believes provide useful information to investors because each measure assists both investors and management in analyzing and benchmarking the performance and value of our business. Accordingly, management believes that these measurements are useful for comparing general operating performance from period to period, and management relies on these measures for planning and forecasting of future periods. Additionally, these measures allow management to compare our results with those of other companies that have different financing and capital structures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for revenue or net income as calculated in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Our fiscal year 2027 guidance measures (other than revenue) are provided on a non-GAAP basis without a reconciliation to the most directly comparable GAAP measure because the Company is unable to predict with a reasonable degree of certainty certain items contained in the GAAP measures without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. Such items include, but are not limited to, acquisition-related expenses, share-based compensation, and other items not reflective of the company's ongoing operations.
Same Store Revenue represents total Revenue less Non-Location Related Revenue, Revenue from Closed Locations, Service Fee Revenue, if applicable, and Acquired Revenue. Adjusted EBITDA represents Net Income (Loss) before Interest Expense, Income Taxes, Depreciation and Amortization, Impairment and Other Charges, Share-based Compensation, EBITDA from Closed Locations, Foreign Currency Exchange Loss (Gain), Asset Disposition Loss (Gain), Transactional and other advisory costs, System modernization costs, changes in the value of earnouts, and other.
The Company considers Same Store Revenue as an important financial measure because it provides comparable revenue for locations open for the entire duration of both the current and comparable measurement periods.
The Company considers Adjusted EBITDA as an important financial measure because it provides a financial measure of the quality of the Company’s earnings. Other companies may calculate Adjusted EBITDA differently than we do, which might limit its usefulness as a comparative measure. Adjusted EBITDA is used by management in addition to and in conjunction with the results presented in accordance with GAAP. We have presented Adjusted EBITDA solely as a supplemental disclosure because we believe it allows for a more complete analysis of results of operations and assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP.
GAAP Financial Information
|
|
|
Lucky Strike Entertainment Corporation |
| Consolidated Balance Sheets |
| (Amounts in thousands) |
| (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
June 28, 2026 |
|
June 29, 2025 |
| Assets |
|
|
|
| Current assets: |
|
|
|
| Cash and cash equivalents |
$ |
39,360 |
|
|
$ |
59,686 |
|
| Accounts and notes receivable, net |
10,136 |
|
|
7,998 |
|
| Inventories, net |
16,314 |
|
|
15,500 |
|
| Prepaid expenses and other current assets |
37,356 |
|
|
29,366 |
|
| Assets held-for-sale |
756 |
|
|
— |
|
| Total current assets |
103,922 |
|
|
112,550 |
|
|
|
|
|
| Property and equipment, net |
1,237,484 |
|
|
944,917 |
|
| Operating lease right of use assets |
514,731 |
|
|
588,594 |
|
| Finance lease right of use assets, net |
324,124 |
|
|
507,701 |
|
| Intangible assets, net |
50,604 |
|
|
45,562 |
|
| Goodwill |
887,823 |
|
|
844,351 |
|
| Deferred income tax asset |
62,225 |
|
|
67,919 |
|
| Other assets |
46,508 |
|
|
48,145 |
|
| Total assets |
$ |
3,227,421 |
|
|
$ |
3,159,739 |
|
|
|
|
|
| Liabilities, Temporary Equity and Stockholders’ Deficit |
|
|
|
| Current liabilities: |
|
|
|
| Accounts payable and accrued expenses |
$ |
154,261 |
|
|
$ |
145,188 |
|
| Current maturities of long-term debt |
9,543 |
|
|
10,162 |
|
| Current obligations of operating lease liabilities |
35,053 |
|
|
33,103 |
|
| Earnout liability |
2,163 |
|
|
— |
|
| Other current liabilities |
5,955 |
|
|
5,932 |
|
| Total current liabilities |
206,975 |
|
|
194,385 |
|
|
|
|
|
| Long-term debt, net |
1,771,759 |
|
|
1,300,708 |
|
| Long-term obligations of operating lease liabilities |
541,360 |
|
|
606,692 |
|
| Long-term obligations of finance lease liabilities |
453,097 |
|
|
683,161 |
|
| Long-term financing obligations |
457,737 |
|
|
449,215 |
|
| Earnout liability |
— |
|
|
36,183 |
|
| Other long-term liabilities |
55,854 |
|
|
56,307 |
|
| Deferred income tax liabilities |
4,440 |
|
|
4,434 |
|
| Total liabilities |
3,491,222 |
|
|
3,331,085 |
|
|
|
|
|
| Commitments and Contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 28, 2026 |
|
June 29, 2025 |
| Temporary Equity |
|
|
|
| Series A preferred stock |
$ |
134,424 |
|
|
$ |
127,325 |
|
|
|
|
|
| Stockholders’ Deficit |
|
|
|
| Class A common stock |
13 |
|
|
12 |
|
| Class B common stock |
6 |
|
|
6 |
|
| Additional paid-in capital |
444,103 |
|
|
472,889 |
|
| Treasury stock, at cost |
(493,676) |
|
|
(457,917) |
|
| Accumulated deficit |
(348,958) |
|
|
(313,181) |
|
| Accumulated other comprehensive income (loss) |
287 |
|
|
(480) |
|
| Total stockholders’ deficit |
(398,225) |
|
|
(298,671) |
|
| Total liabilities, temporary equity and stockholders’ deficit |
$ |
3,227,421 |
|
|
$ |
3,159,739 |
|
|
|
|
Lucky Strike Entertainment Corporation |
| Consolidated Statements of Operations |
| (Amounts in thousands) |
| (Unaudited) |
|
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|
|
|
|
|
|
|
|
|
|
|
|
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|
Three Months Ended |
|
Fiscal Year Ended |
|
June 28, 2026 |
|
June 29, 2025 |
|
June 28, 2026 |
|
June 29, 2025 |
| Revenues |
|
|
|
|
|
|
|
| Bowling |
$ |
128,854 |
|
|
$ |
128,969 |
|
|
$ |
561,581 |
|
|
$ |
549,895 |
|
| Food & beverage |
103,843 |
|
|
104,821 |
|
|
431,066 |
|
|
424,214 |
|
| Amusement & other |
71,251 |
|
|
67,392 |
|
|
252,671 |
|
|
227,224 |
|
| Total revenues |
303,948 |
|
|
301,182 |
|
|
1,245,318 |
|
|
1,201,333 |
|
|
|
|
|
|
|
|
|
| Costs and expenses |
|
|
|
|
|
|
|
| Location operating costs, excluding depreciation and amortization |
103,976 |
|
|
114,083 |
|
|
401,193 |
|
|
375,573 |
|
| Location payroll and benefit costs |
77,029 |
|
|
70,202 |
|
|
310,950 |
|
|
284,131 |
|
| Location food and beverage costs |
23,841 |
|
|
23,171 |
|
|
96,557 |
|
|
94,553 |
|
| Selling, general and administrative expenses, excluding depreciation and amortization |
40,884 |
|
|
32,736 |
|
|
150,867 |
|
|
143,173 |
|
| Depreciation and amortization |
33,508 |
|
|
40,426 |
|
|
129,270 |
|
|
156,852 |
|
| Loss on impairment and disposal of fixed assets, net |
16,908 |
|
|
6,210 |
|
|
22,128 |
|
|
10,905 |
|
| Other operating (income) expense, net |
(1,792) |
|
|
(829) |
|
|
(2,441) |
|
|
(1,041) |
|
| Total costs and expenses |
294,354 |
|
|
285,999 |
|
|
1,108,524 |
|
|
1,064,146 |
|
|
|
|
|
|
|
|
|
| Operating income |
9,594 |
|
|
15,183 |
|
|
136,794 |
|
|
137,187 |
|
|
|
|
|
|
|
|
|
| Other (income) expenses |
|
|
|
|
|
|
|
| Interest expense, net |
51,089 |
|
|
49,492 |
|
|
205,342 |
|
|
196,371 |
|
| Change in fair value of earnout liability |
(2,847) |
|
|
(13,995) |
|
|
(34,033) |
|
|
(101,484) |
|
| Other expense |
5 |
|
|
— |
|
|
4,939 |
|
|
817 |
|
| Total other expense |
48,247 |
|
|
35,497 |
|
|
176,248 |
|
|
95,704 |
|
|
|
|
|
|
|
|
|
| (Loss) income before income tax (benefit) expense |
(38,653) |
|
|
(20,314) |
|
|
(39,454) |
|
|
41,483 |
|
|
|
|
|
|
|
|
|
| Income tax (benefit) expense |
(12,479) |
|
|
54,402 |
|
|
(3,677) |
|
|
51,505 |
|
| Net loss |
$ |
(26,174) |
|
|
$ |
(74,716) |
|
|
$ |
(35,777) |
|
|
$ |
(10,022) |
|
|
|
|
Lucky Strike Entertainment Corporation |
| Consolidated Statements of Cash Flows |
| (Amounts in thousands) |
| (Unaudited) |
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Fiscal Year Ended |
|
June 28, 2026 |
|
June 29, 2025 |
|
June 28, 2026 |
|
June 29, 2025 |
| Net cash (used in) provided by operating activities |
$ |
(11,957) |
|
|
$ |
22,454 |
|
|
$ |
103,896 |
|
|
$ |
177,221 |
|
| Net cash used in investing activities |
(23,583) |
|
|
(53,899) |
|
|
(453,265) |
|
|
(220,311) |
|
| Net cash provided by financing activities |
16,144 |
|
|
11,935 |
|
|
328,452 |
|
|
35,860 |
|
| Effect of exchange rate changes on cash |
102 |
|
|
108 |
|
|
591 |
|
|
(56) |
|
| Net decrease in cash and cash equivalents |
(19,294) |
|
|
(19,402) |
|
|
(20,326) |
|
|
(7,286) |
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents at beginning of period |
58,654 |
|
|
79,088 |
|
|
59,686 |
|
|
66,972 |
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents at end of period |
$ |
39,360
|
|
|
$ |
59,686
|
|
|
$ |
39,360
|
|
|
$ |
59,686
|
|
Balance Sheet and Liquidity
As of June 28, 2026 and June 29, 2025, our calculation of net debt was as follows:
|
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|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
June 28, 2026 |
|
June 29, 2025 |
| Cash and cash equivalents |
|
$ |
39,360 |
|
|
$ |
59,686 |
|
| Bank debt and loans |
|
1,808,584 |
|
|
1,321,790 |
|
| Net debt |
|
$ |
1,769,224 |
|
|
$ |
1,262,104 |
|
As of June 28, 2026 and June 29, 2025, our cash on hand and revolving borrowing capacity was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
June 28, 2026 |
|
June 29, 2025 |
| Cash and cash equivalents |
|
$ |
39,360 |
|
|
$ |
59,686 |
|
| Revolver Capacity |
|
425,000 |
|
|
335,000 |
|
| Amounts outstanding on Revolver |
|
(100,000) |
|
|
(30,000) |
|
| Revolver capacity committed to letters of credit |
|
(24,122) |
|
|
(22,422) |
|
| Total cash on hand and revolving borrowing capacity |
|
$ |
340,238 |
|
|
$ |
342,264 |
|
GAAP to non-GAAP Reconciliations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Fiscal Year Ended |
| (in thousands) |
|
June 28, 2026 |
|
June 29, 2025 |
|
June 28, 2026 |
|
June 29, 2025 |
| Total Revenue - Reported |
|
$303,948 |
|
$301,182 |
|
$1,245,318 |
|
$1,201,333 |
|
|
|
|
|
|
|
|
|
| less: Service Fee Revenue |
|
(456) |
|
|
(634) |
|
|
(2,090) |
|
|
(2,464) |
|
|
|
|
|
|
|
|
|
|
| Revenue Excluding Service Fee Revenue |
|
$303,492 |
|
$300,548 |
|
$1,243,228 |
|
$1,198,869 |
|
|
|
|
|
|
|
|
|
| less: Non-Location Related (including Closed Locations) |
|
(6,276) |
|
|
(9,303) |
|
|
(21,097) |
|
|
(31,802) |
|
|
|
|
|
|
|
|
|
|
| Total Location Revenue |
|
$297,216 |
|
$291,245 |
|
$1,222,131 |
|
$1,167,067 |
|
|
|
|
|
|
|
|
|
| less: Acquired Revenue |
|
(13,107) |
|
|
— |
|
|
(107,125) |
|
|
(49,831) |
|
|
|
|
|
|
|
|
|
|
| Same Store Revenue |
|
$284,109 |
|
$291,245 |
|
$1,115,006 |
|
$1,117,236 |
|
|
|
|
|
|
|
|
|
| % Year-over-Year Change |
|
|
|
|
|
|
|
|
| Total Revenue – Reported |
|
|
|
0.9% |
|
|
|
3.7% |
| Total Revenue excluding Service Fee Revenue |
|
|
|
1.0% |
|
|
|
3.7% |
| Total Location Revenue |
|
|
|
2.1% |
|
|
|
4.7% |
| Same Store Revenue |
|
|
|
(2.5)% |
|
|
|
(0.2)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA Reconciliation |
|
|
Three Months Ended |
|
Fiscal Year Ended |
| (in thousands) |
|
June 28, 2026 |
|
June 29, 2025 |
|
June 28, 2026 |
|
June 29, 2025 |
| Consolidated |
|
|
|
|
|
|
|
|
| Revenue |
|
$303,948 |
|
$301,182 |
|
$1,245,318 |
|
$1,201,333 |
| Net loss - GAAP |
|
(26,174) |
|
(74,716) |
|
(35,777) |
|
(10,022) |
| Net loss margin |
|
(8.6)% |
|
(24.8)% |
|
(2.9)% |
|
(0.8)% |
| Adjustments: |
|
|
|
|
|
|
|
|
| Interest expense |
|
51,122 |
|
49,492 |
|
206,635 |
|
196,371 |
| Income tax (benefit) expense |
|
(12,479) |
|
54,402 |
|
(3,677) |
|
51,505 |
| Depreciation and amortization |
|
34,051 |
|
40,776 |
|
130,961 |
|
158,527 |
Loss on impairment, disposals, and other charges, net (1)
|
|
21,055 |
|
23,920 |
|
27,848 |
|
28,615 |
| Share-based compensation |
|
3,315 |
|
3,677 |
|
12,627 |
|
21,632 |
Closed location EBITDA (2)
|
|
1,384 |
|
(591) |
|
3,599 |
|
3,054 |
Transactional and other advisory costs (3)
|
|
2,495 |
|
5,353 |
|
18,059 |
|
17,117 |
System modernization costs (4)
|
|
1,531 |
|
— |
|
4,694 |
|
— |
Changes in the value of earnouts (5)
|
|
(2,847) |
|
(13,995) |
|
(34,033) |
|
(101,484) |
Other, net (6)
|
|
618 |
|
409 |
|
2,272 |
|
2,372 |
| Adjusted EBITDA |
|
$74,071 |
|
$88,727 |
|
$333,208 |
|
$367,687 |
| Adjusted EBITDA Margin |
|
24.4% |
|
29.5% |
|
26.8% |
|
30.6% |
(1)For the fiscal year and period ended June 29, 2025 reflects a change in estimate in our self-insurance reserves related to claims that occurred prior to the beginning of the fiscal year, which resulted in a non-cash self-insurance reserve adjustment of $17,710. Also includes non-cash expenses related to impairments, disposals, and asset write-offs.
(2)The closed location adjustment is to remove EBITDA for closed locations. Closed locations are those locations that are closed for a variety of reasons, including permanent closure, newly acquired or built locations prior to opening, locations closed for renovation or rebranding and conversion. If a location is not open on the last day of the reporting period, it will be considered closed for that reporting period. If the location is closed on the first day of the reporting period for permanent closure, the location will be considered closed for that reporting period.
(3)The adjustment for transaction costs and other advisory costs is to remove charges incurred in connection with any transaction, including mergers, acquisitions, refinancing, amendment or modification to indebtedness, and dispositions, in each case, regardless of whether consummated.
(4)The adjustment for system modernization costs represents non-capitalizable third-party consulting, professional, and related costs incurred on discrete initiatives to modernize the Company's technology platforms. They are incremental to, and not part of, the Company's normal, recurring operating expenses. The adjustment excludes depreciation and amortization, recurring software subscription and licensing fees, and costs to operate, support, or maintain the platforms after the applicable initiatives are complete. For the fiscal year ended June 28, 2026, these costs related principally to a discrete initiative to modernize the Company's customer relationship management (CRM) platform.
(5)The adjustment for changes in the value of earnouts is to remove the impact of the revaluation of the earnouts. Changes in the fair value of the earnout liability are recognized in the statement of operations. Decreases in the liability will have a favorable impact on the statement of operations and increases in the liability will have an unfavorable impact.
(6)Other includes the following related to transactions that do not represent ongoing or frequently recurring activities as part of the Company’s operations: (i) non-routine expenses, net of recoveries for matters outside the normal course of business, (ii) severance expense, and (iii) other individually de minimis expenses.
Contacts:
Lucky Strike Entertainment Corporation Investor Relations
IR@LSEnt.com
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