Shares of Bowlero Corp. (NYSE: BOWL), the premier operator of location-based entertainment venues, surged 9.55% in after-hours trading on September 5, 2024, following the release of its fiscal fourth-quarter and full-year 2024 financial results.

The company reported strong revenue growth for the quarter and fiscal year. Quarterly revenue reached $283.9 million, beating analysts' estimates of $274.4 million and representing an 18.6% increase compared to the same period last year. Full-year revenue grew 9.1% year-over-year to $1.15 billion, driven by the company's expansion efforts and robust consumer demand.

Bowlero's profitability also showed significant improvement. While the fourth-quarter adjusted EBITDA of $83.4 million narrowly missed estimates, the full-year adjusted EBITDA of $361.5 million represented a solid increase over the prior year, reflecting the company's focus on operational efficiencies and cost management.