Lucky Strike Entertainment (LUCK) Q2 2026 earnings summary

Executive summary

• Achieved total revenue of $306.9 million for the quarter ended December 28, 2025, up 2.3% year-over-year, driven by new and acquired locations and strong retail, league, and event performance.

• Net loss attributable to common stockholders was $12.7 million for the quarter, compared to net income of $28.3 million in the prior year.

• Adjusted EBITDA for the quarter was $77.5 million, down from $98.8 million year-over-year.

• Major acquisitions included 58 properties and a water park, with rebranding efforts ongoing and 98 locations under the Lucky Strike brand.

• The company operates 369 locations as of February 2026, with a robust acquisition pipeline and continued portfolio diversification.

Financial highlights

• FY25 total reported revenue was $1,201M, up from $1,149M in FY24; Q2 FY2026 revenue was $306.9M.

• Adjusted EBITDA for FY25 was $367.7M (30.6% margin); Q2 FY2026 Adjusted EBITDA margin was 25.2%, down from 32.9% year-over-year.

• Operating income for the quarter was $33.3 million, down from $46.9 million year-over-year.

• Cash and cash equivalents at quarter-end were $95.9 million.

• Net cash provided by operating activities was $48.1 million for the quarter.

Outlook and guidance

• Fiscal year 2026 revenue guidance reaffirmed at $1,260M to $1,310M, representing 5% to 9% growth.

• Adjusted EBITDA guidance for FY2026 is $375M to $415M, with margin expansion expected in summer as non-bowling assets enter peak season.

• Management expects continued de-leveraging through operating cash flow and capital expenditure optimization.

• Recent acquisitions are expected to reach company-wide margins within 12-18 months.

• Macroeconomic factors such as inflation, labor costs, and consumer spending are being closely monitored.