Dave & Buster's Entertainment reported its financial results for the fourth quarter and fiscal year ended February 4, 2025. For Q4 2024, total revenue was $534.5 million, a decrease from $599.1 million in Q4 2023, which included an extra week contributing $39.5 million. The company reported net income of $8.9 million, or $0.24 per diluted share, with adjusted earnings of $0.69 per diluted share.
For the full fiscal year 2024, total revenues decreased by 3.3% to $2.13 billion, compared to fiscal 2023 which included 53 weeks. Net income for the year was $40.3 million, or $1.04 per diluted share, and Adjusted EBITDA totaled $434.1 million. Interim CEO Kevin Sheehan acknowledged that "previous leadership... made significant and ill-advised changes" and announced a "back to basics" strategy to unwind these mistakes across marketing, food and beverage, operations, remodels, and games investment.
The company generated $108.9 million in operating cash flow during Q4, ending the quarter with $510.4 million of available liquidity and a Net Total Leverage Ratio of 2.8x. Dave & Buster's repurchased $108 million of shares in Q4 and executed a sale-leaseback of five properties for $111 million, solidifying a long-term funding vehicle for new store openings. The outlook for fiscal 2025 includes capital expenditures not exceeding $220 million and interest expense between $130 million and $140 million.
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