Bowlero Corp. (NYSE:BOWL) Q2 2024 Earnings Conference Call February 5, 2024 10:00 AM ET

Company Participants

Bobby Lavan - Chief Financial Officer

Thomas Shannon - Founder and Chief Executive

Lev Ekster - President

Conference Call Participants

Steven Wieczynski - Stifel

Randy Konik - Jefferies

Jason Tilchen - Canaccord Genuity

Matthew Boss - JPMorgan

Eric Handler - ROTH MKM

Eric Wold - B. Riley Securities

Jeremy Hamblin - Craig-Hallum Capital Group

Michael Kupinski - NOBLE Capital Markets

Operator

Good morning, and welcome to the Bowlero Second Quarter 2024 Earnings Conference Call. [Operator Instructions] After the speakers’ remarks, there will be a question-and-answer-session. [Operator Instructions]

Thank you. Bobby Lavan, Bowlero's Chief Financial Officer, you may begin your conference.

Bobby Lavan

Good morning to everyone on the call. This is Bobby Lavan, Bowlero's Chief Financial Officer. Welcome to our conference call to discuss Bowlero's second quarter 2024 earnings. This morning, we issued a press release announcing our financial results for the period ended December 31, 2023. A copy of the press release is available in the Investor Relations section of our website.

Joining me on the call today are Thomas Shannon, our Founder and Chief Executive; and Lev Ekster, our President.

I would like to remind you that during today's conference call, we may make certain forward-looking statements about the company's performance. Such forward-looking statements are not guarantees of future performance, and therefore, one should not place undue reliance on them. Forward-looking statements are also subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed. For additional information concerning factors that could cause actual results to differ from those discussed in our forward-looking statements, you should refer to cautionary statements in our press release as well as the risk factors contained in the company's filings with the SEC. Bowlero Corporation undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances that occur after today's call.

Also, during today's call, the company may discuss certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measures most directly comparable to each non-GAAP financial measure discussed and the reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure can be found on the company's website.

I will now turn the call over to Tom.

Thomas Shannon

Good morning, and thank you for joining us today. I am Thomas Shannon, Founder and CEO of Bowlero Corporation. Bowlero had a strong second quarter with total revenue growth of 13.4%. We continue to invest in our centers, our people and our goal to become the premier experiential recreation company. Our same-store sales comp turned positive as consumers picked Bowlero for celebrations in the December holiday period. Our revenues are up 65% from pre-pandemic levels as we grow market share through acquisitions and investing in our premium product.