Company: ACEL
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001698991-25-000051
Chunk: 10

Company: Accel Entertainment, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 10
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— — 4,895 4,895 Balance, September 30, 2024$— 82,430,205 $8 $210,225 (12,979,443)$(133,760)$3,865 $126,381 $206,719 

The accompanying notes are an integral part of these condensed consolidated financial statements

4

ACCEL ENTERTAINMENT, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands)Nine Months EndedSeptember 30,20252024Cash flows from operating activities:Net income $35,180 $26,897 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization of property and equipment38,735 32,229 Amortization of intangible assets and route and customer acquisition costs19,001 16,808 Amortization of debt issuance costs1,147 1,348 Loss on change in fair value of contingent earnout shares1,209 4,190 Stock-based compensation8,384 8,927 Loss on disposal of property and equipment680 618 Net loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable1,215 947 Loss on debt extinguishment1,090 — Remeasurement of contingent consideration1,523 5,764 Payments on consideration payable(707)(2,091)Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration1,720 1,131 Deferred income taxes5,897 (3,076)Changes in operating assets and liabilities:Prepaid expenses, deposits and other current assets1,210 (2,608)Accounts receivable, net1,894 5,637 Inventories(1,414)(1,409)Income taxes receivable(6,112)274 Route and customer acquisition costs(9,574)(7,155)Route and customer acquisition costs payable2,872 2,661 Accounts payable and accrued expenses15,142 15,830 Accrued compensation and related expenses195 (2,540)Other assets508 3,284 Net cash provided by operating activities119,795 107,666 Cash flows from investing activities:Purchases of property and equipment(73,814)(55,088)Proceeds from the sale of