Investments
2Portfolio Exits
1
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Latest Michael Edwards News
May 18, 2023
Michael Edwards Bowlero Corp. (NYSE: BOWL ) gained in early trading on Thursday after investors sized up the Q3 earnings report favorably. The bowling center operator reported revenue growth of 22% to a record $316M. Same-store revenue was up 17% during the quarter. Adjusted EBITDA was up 18% year-over-year to $128M and stood at a level 89% higher than the pre-pandemic period. Bowlero ( BOWL ) stated that it was able to materially expand the EBITDA margin compared to pre-pandemic as a result of QMS, which is its proprietary tech-enabled financial performance optimization tool. Management also pointed to a "relentless" focus on efficient execution and operating leverage from higher revenue generation in the quarter. Bowlero ( BOWL ) added one new center during the quarter to take its total count to 327. Subsequent to the quarter-end, BOWL acquired an additional two centers bringing the updated center count to 329. The company has signed leases for another six locations to be new builds, with two properties currently under construction. Shares of Bowlero ( BOWL ) moved up 1.99% premarket on Thursday to $14.34 to add to the +40% one-year return. The leisure stock is up about 4.30% on a year-to-date basis. More on Bowlero:
Michael Edwards Investments
2 Investments
Michael Edwards has made 2 investments. Their latest investment was in Loverly as part of their Angel on February 2, 2012.
Michael Edwards Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
2/14/2012 | Angel | Loverly | $0.5M | Yes | ||
3/30/2011 | Seed - II |
Date | 2/14/2012 | 3/30/2011 |
|---|---|---|
Round | Angel | Seed - II |
Company | Loverly | |
Amount | $0.5M | |
New? | Yes | |
Co-Investors | ||
Sources |
Michael Edwards Portfolio Exits
1 Portfolio Exit
Michael Edwards has 1 portfolio exit. Their latest portfolio exit was Summify on January 19, 2012.
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