Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) Q1 2023 Earnings Call Transcript June 6, 2023 5:00 PM ET
Company Participants
Corey Hatton - Vice President, Investor Relations and Treasurer
Chris Morris - Chief Executive Officer
Mike Quartieri - Chief Financial Officer
Conference Call Participants
Andy Barish - Jefferies
Jake Bartlett - Truist Securities
Brian Vaccaro - Raymond James
Jeff Farmer - Gordon Haskett
Sharon Zackfia - William Blair
Chris O'Cull - Stifel
Dennis Geiger - UBS
Operator
Good afternoon, and welcome to the Dave & Buster's First Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Cory Hatton, VP of Investor Relations and Treasurer. Please go ahead.
Corey Hatton
Thank you, operator, and welcome to everyone on the line. Leading today's call will be Chris Morris, our Chief Executive Officer; and Mike Quartieri, our Chief Financial Officer. After our prepared remarks, we will be happy to take your questions. This call is being recorded on behalf of Dave & Buster's Entertainment, Incorporated and is copyrighted.
Before we begin the discussion on our company's first quarter 2023 results, I'd like to call your attention to the fact that in our remarks and our responses to questions, certain items may be discussed, which are not entirely based on historical fact. Any of these items should be considered forward-looking statements relating to future events within the meaning of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Information on the various risk factors and uncertainties have been published in our filings with the SEC, which are available on our website.
In addition, our remarks today will include references to financial measures that are not defined under generally accepted accounting principles. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP measure contained in our earnings announcement released this afternoon. Pro forma financials, including Main Event for the trailing four quarters ended April 30, 2023 can be found directly in our earnings release this quarter.
Now it is my pleasure to turn the call over to Chris.
Chris Morris
Okay. Thank you. Corey. Good afternoon, everyone, and thank you for joining our call today. We are pleased to report record results for the first quarter of fiscal 2023. In Q1, we generated record revenue of $597 million and record adjusted EBITDA of $182 million resulting in an adjusted EBITDA margin of 30.5%. In a few moments, Mike will walk you through the details of our financial performance.