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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.