← Accel Entertainment, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $8.3m | $10.8m | ($5.9m) | ($13.0m) | $31.6m | $74.1m | $45.6m | $35.3m | $51.3m | |
| Depreciation and amortization of property and equipment | $16.8m | $20.8m | $26.4m | $21.0m | $24.6m | $29.3m | $37.9m | $44.0m | $52.7m | |
| Amortization of intangible assets and route and customer acquisition costs | $9.8m | $14.7m | $18.0m | $22.6m | $22.0m | $17.5m | $21.2m | $22.6m | $25.4m | |
| Amortization of debt issuance costs | $284k | $394k | $655k | $2.1m | $2.1m | $2.1m | $1.8m | $1.8m | $1.4m | |
| Deferred income taxes | $1.5m | $4.3m | $4.1m | ($16.8m) | $6.1m | $13.4m | $7.3m | ($2.4m) | $13.3m | |
| Impairment of intangible assets | — | — | — | — | — | $0 | $0 | $846k | $0 | |
| Loss (gain) on disposal of property and equipment | $338k | $61k | $100k | $47k | ($63k) | ($608k) | ($10k) | $606k | $1.1m | |
| Loss on debt extinguishment | $0 | $0 | $1.1m | $0 | $1.2m | $0 | $0 | $0 | $1.1m | |
| Stock-based compensation expense | $804k | $453k | $2.2m | $5.5m | $6.4m | $6.8m | $9.4m | $12.2m | $12.2m | |
| Loss on change in fair value of contingent earnout shares | — | $0 | $9.8m | ($8.5m) | $9.8m | ($19.5m) | $8.5m | $1.3m | $573k | |
| Loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable | $395k | $516k | $342k | $910k | $711k | $757k | $935k | $1.1m | $1.4m | |
| Remeasurement of contingent consideration | $0 | $852k | $6.7m | ($584k) | $4.3m | ($3.5m) | ($522k) | $6.5m | $2.8m | |
| Payments on consideration payable | ($351k) | ($814k) | ($2.3m) | ($5.4m) | ($2.8m) | ($9.2m) | ($3.2m) | ($588k) | ($1.3m) | |
| Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration | $695k | $912k | $1.6m | $2.0m | $2.6m | $2.5m | $1.5m | $1.6m | $2.3m | |
| Prepaid expenses and other current assets | ($3.8m) | ($491k) | ($3.5m) | ($2.9m) | ($5.0m) | ($1.6m) | ($987k) | ($788k) | $2.2m | |
| Accounts receivable, net | — | — | — | $0 | $0 | ($1.7m) | ($2.3m) | $5.0m | ($3.6m) | |
| Inventories | — | — | — | $0 | $0 | ($500k) | ($734k) | ($343k) | ($57k) | |
| Income tax receivable | ($667k) | ($1.4m) | ($1.8m) | $566k | $3.3m | ($349k) | $264k | ($1.4m) | ($7.5m) | |
| Route and customer acquisition costs | ($2.8m) | ($3.7m) | ($5.4m) | ($603k) | ($3.1m) | ($4.3m) | ($3.4m) | ($7.5m) | ($11.9m) | |
| Route and customer acquisition costs payable | ($1.4m) | ($956k) | ($1.3m) | ($780k) | $97k | $358k | ($441k) | $2.5m | $2.9m | |
| Accounts payable and accrued expenses | $3.2m | ($2.6m) | ($405k) | ($16.9m) | $3.7m | $1.8m | $15.5m | ($1.2m) | $5.1m | |
| Accrued compensation and related expenses | — | ($900k) | $494k | $3.5m | $3.0m | $95k | $2.0m | ($531k) | ($2.2m) | |
| Other assets | ($407k) | $36k | ($240k) | ($72k) | ($44k) | ($5.0m) | ($6.0m) | $1.5m | $1.6m | |
| Purchases of property and equipment | ($23.6m) | ($23.2m) | ($20.8m) | ($25.8m) | ($29.8m) | ($47.4m) | ($81.7m) | ($66.5m) | ($88.9m) | |
| Proceeds from the sale of property and equipment | $259k | $1.2m | $121k | $394k | $1.4m | $2.1m | $1.7m | $984k | $1.6m | |
| Proceeds from the settlement of convertible notes | — | — | — | — | $0 | $0 | $32.1m | $0 | $1.5m | |
| Deposits against a portion of the purchase price on a pending business acquisition | — | — | — | — | — | — | ($4.6m) | $0 | $0 | |
| Acquisition of indefinite-lived operating license | ($2.4m) | ($80k) | $0 | $0 | — | — | $0 | $0 | ($9.4m) | |
| Investment in unconsolidated affiliate | — | — | — | — | — | $0 | $0 | ($5.0m) | $0 | |
| Payments for repurchase of common shares | ($123k) | ($3.3m) | $0 | $0 | ($9.0m) | ($79.0m) | ($30.1m) | ($25.5m) | ($39.9m) | |
| Payments on interest rate caplets | — | — | — | $0 | $0 | ($873k) | ($965k) | ($985k) | ($993k) | |
| Proceeds from exercise of stock-based awards | — | — | — | — | $1.7m | $366k | $375k | $289k | $0 | |
| Payments on finance leases | — | — | — | — | $0 | $0 | ($17k) | ($221k) | ($245k) | |
| Tax withholding on stock-based payments | $0 | $0 | ($5.1m) | ($18k) | ($91k) | ($78k) | ($1.1m) | ($2.3m) | ($3.2m) | |
| Beginning of year | $75.3m | $92.2m | $125.4m | $134.5m | $198.8m | $224.1m | $261.6m | $281.3m | $296.6m | |
| Interest, net | $6.2m | $8.7m | $12.0m | $12.9m | $9.6m | $19.9m | $30.2m | $32.8m | $31.6m | |
| Income taxes, net | $0 | $1.6m | $1.8m | $0 | $8.6m | $7.7m | $11.7m | $22.3m | $15.5m | |
| Purchases of property and equipment in accounts payable and accrued liabilities | $1.1m | $2.2m | $11.5m | $15.0m | $2.7m | $9.8m | $14.9m | $13.4m | $17.4m | |
| Purchases of equipment financed through vendor | $23.6m | $23.2m | $20.8m | $25.8m | $29.8m | $47.4m | $0 | $577k | $4.8m | |
| Deferred premium on interest rate caplets | — | — | — | $0 | $0 | $3.0m | $2.1m | $1.1m | $83k | |
| Fair value of treasury stock (canceled) issued in a business combination | — | — | — | — | — | — | $0 | $40.5m | ($2.0m) | |
| Less cash acquired | ($4.9m) | ($3.6m) | ($8.9m) | ($716k) | ($646k) | ($33.3m) | $0 | ($5.9m) | $0 | |
| Less contingent consideration | ($595k) | ($5.3m) | ($7.2m) | ($3.2m) | ($106k) | ($2.5m) | $0 | ($5.9m) | $0 | |
| Less fair value of treasury stock issued | — | — | — | $0 | $0 | ($5.6m) | $0 | ($40.5m) | $0 | |
| Less advances on purchase price paid in prior period | — | — | — | — | — | $0 | $0 | $4.6m | $0 | |
| Total identifiable net assets acquired | $65.1m | $63.7m | $119.2m | $39.7m | $6.9m | $185.4m | $7.2m | $110.5m | $5.3m | |
| Net cash provided by operating activities | $33.1m | $44.3m | $45.6m | ($3.7m) | $110.8m | $108.0m | $132.5m | $121.2m | $150.9m | |
| Business and asset acquisitions, net of cash acquired | ($45.1m) | ($51.4m) | ($100.9m) | ($35.8m) | ($6.2m) | ($144.0m) | ($7.2m) | ($53.6m) | ($5.3m) | |
| Net cash used in investing activities | ($70.9m) | ($73.5m) | ($151.5m) | ($61.4m) | ($34.5m) | ($189.3m) | ($59.8m) | ($124.2m) | ($100.6m) | |
| Proceeds from debt | — | — | $179.2m | $49.0m | $42.0m | $140.0m | $169.0m | $175.0m | $682.0m | |
| Payments for debt issuance costs | $0 | ($533k) | ($9.4m) | ($677k) | ($364k) | $0 | ($300k) | $0 | ($4.1m) | |
| Payments on debt | — | — | ($187.8m) | ($107.5m) | ($42.0m) | ($19.0m) | ($169.0m) | ($123.0m) | ($667.4m) | |
| Net cash (used in) provided by financing activities | $59.1m | $46.1m | $139.1m | $74.2m | ($11.9m) | $106.6m | ($35.2m) | $22.7m | ($35.1m) | |
| Net increase in cash and cash equivalents | $21.3m | $16.9m | $33.2m | $9.0m | $64.3m | $25.3m | $37.5m | $19.7m | $15.3m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.