Accel Entertaiment Results Presentation Deck
Non-GAAP to GAAP Reconciliation
$ in millions
Reported Net Income (Loss)
(+) Amortization of Op Routes
(+) Stock Based Comp (¹)
(+) (Gain) loss on change in fair value of contingent earnout shares (2)
(+) (Gain) loss on change in fair value of w arrants (3)
(+) Other Expenses, net
(+) Tax effect of adjustments (4)
Adjusted Net Income
(+) D&A of Property & Equipment
(+) Interest Expense, net
(5)
(+) Emerging Markets
(+) Income Tax (Benefit) Expense
(+) Loss on debt extinguishment
Adjusted EBITDA
Reported Net Income (Loss)
(+) Amortization of Op Routes
(+) Stock Based Comp (¹)
(+) (Gain) loss on change in fair value of contingent earnout shares (2)
(+) (Gain) loss on change in fair value of w arrants (3)
(+) Other Expenses, net
(+) D&A of Property & Equipment
(+) Interest Expense, net
(+) Emerging Markets (5)
(+) Income Tax (Benefit) Expense
(+) Loss on Debt Extinguishment
Adjusted EBIT DA
2017
ܣ ܘ ܝ . ܙ ܝ ܚ ܒ ܒ ܣ ܙ ܗ
(3)
17
17
47
March 31,
2020
48
6
1
(17)
(33)
1
5
4
(0)
15
Twelve Months Ended
December 31,
2018
11
15
0
3
(6)
23
21
10
10
64
2020
(47)
6
1
7
18
3
5
2
(5)
2019
(37)
18
(9)
* * F !
2
Three Months Ended
June 30,
Sep. 30,
2020
7
6
2
4
2
1
5
3
0
10
21
20
(11)
23
26
13
17
1
80
23
2020
(0)
23
6
(8)
(13)
9
(10)
6
21
14
1
34
Dec. 31,
2020
(9)
6
1
(0)
EMOTOSI
5
Three Months Ended
December 31,
2021
7
4
2
3
2020
(9)
ON TO
(2)
(2)
5
March 31,
2021
2
6
NW O NI W NO
2
3
2
6
3
1
2
26
4
(2)
17
6
3
1
5
1
33
-
3
6
3
1
6
Twelve Months Ended
December 31,
43
2020
(0)
Three Months Ended
Sep. 30,
June 30,
2021
2021
12
11
6
2
3
23
6
(8)
(13)
9
(10)
6
21
14
1
6
1
1
4
7
3
1
4
34
38
2021
32
22
6
10
13
(11)
71
25
13
3
26
1
140
De c. 31,
2021
7
4
2
3
4
6
3
1
3
1
33
Debt, net of current maturities
(+) Current maturities of debt
(-) Cash and cash equivalents
Net Debt
1. Stock-based compensation consists of options, restricted stock units and warrants.
2. Loss (gain) on change in fair value of contingent earnout shares represents a non-cash fair value adjustment at each reporting period end related to the value of these contingent shares. Upon achieving such contingency, shares of Class A-2 common stock convert to Class A-1 common stock resulting in a non-cash settlement of the obligation.
3. Loss (gain) on change in fair value of warrants represents a non-cash fair value adjustment at each reporting period end related to the value of these warrants.
4. Calculated by excluding the impact of the non-GAAP adjustments from the current period tax provision calculations.
5. Emerging markets consist of the results, on an adjusted EBITDA basis, for non-core jurisdictions where our operations are developing. Markets are no longer considered emerging when Accel has installed or acquired at least 500 gaming terminals in the jurisdiction, or when 24 months have elapsed from the date Accel first installs or acquires
gaming terminals in the jurisdiction, whichever occurs first.
Note: With respect to Non-GAAP financial measures, see page 2 "Use of Non-GAAP Financial Measures" under Important Information. Numbers may not total due to rounding.
ACEL
LISTED
NYSE
December 31,
2021
2020
322
18
(134)
206
AE
324
18
(199)
143
ACCELENTERTAINMENT.
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