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DAVE & BUSTER'S Dave & Buster's Reports Record Second Quarter 2021 Financial Results September 9 , 2021 DALLAS , Sept. 09 , 2021 ( GLOBE NEWSWIRE ) Dave & Buster's Entertainment , Inc. , ( NASDAQ : PLAY ) , ( " Dave & Buster's " or " the Company " ) , an owner and operator of entertainment and dining venues , today announced record quarterly revenues , net income , and EBITDA for its second quarter of fiscal year 2021 , which ended on August 1 , 2021 . The Company began the second quarter with 138 open stores , or approximately 98 percent of its total store base . As of August 1 , all of the Company's 142 stores were open , including 1 new store opened during the quarter . Key Second Quarter 2021 Highlights • Revenues totaled a record $ 377.6 million compared with $ 50.8 million in the second quarter of 2020 and $ 344.6 million in the second quarter of 2019 • Overall comparable store sales increased 3.6 % compared with the same period in 2019 • Net income totaled a record $ 52.8 million , or $ 1.07 per diluted share , compared with net loss of $ 58.6 million , or $ 1.24 per share in the second quarter of 2020 and net income of $ 32.4 million , or $ 0.90 per diluted share in the second quarter of 2019 • EBITDA totaled a record $ 114.0 million , or 30.2 % of revenues , compared with EBITDA loss of $ 46.0 million in the second quarter of 2020 and EBITDA of $ 79.0 million , or 22.9 % of revenues in the second quarter of 2019 Adjusted EBITDA totaled a record $ 119.2 million , or 31.6 % of revenues , compared with Adjusted EBITDA loss of $ 38.5 million in the second quarter of 2020 and Adjusted EBITDA of $ 86.0 million , or 25.0 % of revenues in the second quarter of 2019 • Launched new menu , completed rollout of mobile web platform and tablets , and executed new marketing strategy • Ended the quarter with $ 108 million in cash and approximately $ 340 million of liquidity available under the Company's $ 500 million revolving credit facility , net of a $ 150 million minimum liquidity covenant and $ 10 million in letters of credit • Company has elected to redeem $ 55 million of 7.625 % senior secured notes at 103 % of principal , saving approximately $ 4.2 million in annualized interest Brian Jenkins , Dave & Buster's Chief Executive Officer , said , " Dave & Buster's second quarter was clear evidence that the brand is back , posting record revenues and EBITDA with all 142 stores open as of the end of the quarter . The entire team has demonstrated great resilience navigating the pandemic and positioning the Company to achieve new levels of performance . Through continued execution of our strategic initiatives , including our new menu , optimized marketing , and technology investments , we are excited to move forward with a strong foundation to drive sustained profitable growth . " Second Quarter 2021 Results Total revenues of $ 377.6 million increased 642.9 % from $ 50.8 in the second quarter of 2020 and increased 9.6 % from $ 344.6 million in the second quarter of 2019. Comparable store sales increased 3.6 % compared with the second quarter of 2019 ( the Company has chosen to continue reporting comparable store sales versus 2019 in order to provide a more meaningful comparison ) . Non - comparable store revenue totaled $ 67.3 million compared with $ 10.4 million in the second quarter of 2020 . Operating income totaled $ 79.2 million , or 21.0 % of revenues , compared with operating loss of $ 81.1 million , or ( 159.6 ) % of revenues in the second quarter of 2020 and operating income $ 46.2 million , or 13.4 % of revenues in the second quarter of 2019 . Net income totaled $ 52.8 million , or $ 1.07 per diluted share , compared with net loss of $ 58.6 million , or $ 1.24 per share in the second quarter of 2020 and net income of $ 32.4 million , or $ 0.90 per diluted share in the second quarter of 2019 . EBITDA totaled $ 114.0 million , or 30.2 % of revenues , compared with EBITDA loss of $ 46.0 million , or ( 90.4 ) % of revenues in the second quarter of 2020 and EBITDA of $ 79.0 million , or 22.9 % of revenues in the second quarter of 2019 . Adjusted EBITDA totaled $ 119.2 million , or 31.6 % of revenues , compared with adjusted EBITDA loss of $ 38.5 million , or ( 75.7 ) % of revenues in the second quarter of 2020 and adjusted EBITDA of $ 86.0 million , or 25.0 % of revenues in the second quarter of 2019 . Store operating income before depreciation and amortization totaled $ 134.2 million , or 35.5 % of revenues , compared with store operating loss before depreciation and amortization of $ 34.3 million , or ( 67.5 ) % of revenues in the second quarter of 2020 and $ 99.7 million , or 28.9 % of revenues in the second quarter of 2019 . Balance Sheet , Liquidity and Cash Flow