--- title: "Accel ENT | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 351.56 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285261591.md" datetime: "2026-05-05T20:28:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285261591.md) - [en](https://longbridge.com/en/news/285261591.md) - [zh-HK](https://longbridge.com/zh-HK/news/285261591.md) --- # Accel ENT | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 351.56 M Revenue: As of FY2026 Q1, the actual value is USD 351.56 M, beating the estimate of USD 342.49 M. EPS: As of FY2026 Q1, the actual value is USD 0.17, missing the estimate of USD 0.182. EBIT: As of FY2026 Q1, the actual value is USD 35.58 M. #### Total Net Revenues Accel Entertainment, Inc. reported total net revenues of $351,558 thousand for Q1 2026, an increase of 8.5% compared to $323,912 thousand in Q1 2025, marking an all-time quarterly record . #### Net Revenues by State - Illinois: $252,798 thousand in Q1 2026, an 8.3% increase from $233,479 thousand in Q1 2025 . - Montana: $40,636 thousand in Q1 2026, a -1.2% decrease from $41,136 thousand in Q1 2025 . Montana’s Q1 2026 revenue included $39.4 million in net gaming revenues and $1.2 million in manufacturing revenues . - Nevada: $29,301 thousand in Q1 2026, a 6.1% increase from $27,617 thousand in Q1 2025 . - Louisiana: $10,143 thousand in Q1 2026, a 12.4% increase from $9,025 thousand in Q1 2025 . - Nebraska: $11,381 thousand in Q1 2026, a 57.4% increase from $7,230 thousand in Q1 2025 . - Georgia: $6,184 thousand in Q1 2026, a 43.0% increase from $4,325 thousand in Q1 2025 . - Other: $1,115 thousand in Q1 2026, a 1.4% increase from $1,100 thousand in Q1 2025 . #### Net Revenues by Type - Net gaming: $331,425 thousand in Q1 2026, up from $301,951 thousand in Q1 2025 . - Amusement: $5,825 thousand in Q1 2026, down from $5,908 thousand in Q1 2025 . - Manufacturing: $1,240 thousand in Q1 2026, down from $3,858 thousand in Q1 2025 . - ATM fees and other: $13,068 thousand in Q1 2026, up from $12,195 thousand in Q1 2025 . #### Net Income Net Income was $14,663 thousand for Q1 2026, slightly up from $14,613 thousand in Q1 2025, representing a 0.3% increase . Excluding the impact of the shift in timing of Fairmount Park purse expense, net income would have been $1.5 million higher . #### Adjusted EBITDA Adjusted EBITDA increased by 8.6% to $53,757 thousand for Q1 2026, compared to $49,514 thousand in Q1 2025, which was the highest ever Q1 adjusted EBITDA . Excluding the impact of the shift in timing of Fairmount Park purse expense, Adjusted EBITDA would have been $2.0 million higher . The trailing twelve-month Adjusted EBITDA was $214.4 million for the twelve months ended March 31, 2026 . #### Operating Income Operating Income was $27,080 thousand in Q1 2026, compared to $25,952 thousand in Q1 2025 . #### Income Before Income Tax Expense Income before income tax expense was $20,039 thousand in Q1 2026, compared to $19,606 thousand in Q1 2025 . #### Income Tax Expense Income Tax Expense was $5,376 thousand in Q1 2026, compared to $4,993 thousand in Q1 2025 . #### Gross Margin Percentage - Illinois: 32.50% in both Q1 2026 and Q1 2025 . - Georgia: 43.50% in both Q1 2026 and Q1 2025 . - All other state splits, revenues and fees: 27.05% in Q1 2026, up from 26.65% in Q1 2025 . - Total gross margin percentage: 31.09% in Q1 2026, up from 30.98% in Q1 2025 . #### Operating Expenses - Cost of revenue: $241,616 thousand in Q1 2026, compared to $221,472 thousand in Q1 2025 . - Cost of manufacturing goods sold: $636 thousand in Q1 2026, compared to $2,076 thousand in Q1 2025 . - General and administrative: $58,048 thousand in Q1 2026, compared to $53,004 thousand in Q1 2025 . - Depreciation and amortization of property and equipment: $13,862 thousand in Q1 2026, compared to $12,301 thousand in Q1 2025 . - Amortization of intangible assets and route and customer acquisition costs: $6,790 thousand in Q1 2026, compared to $6,290 thousand in Q1 2025 . - Other expenses, net: $3,526 thousand in Q1 2026, compared to $2,817 thousand in Q1 2025 . #### Net Cash Provided by Operating Activities Net cash provided by operating activities was $42,743 thousand in Q1 2026, a -4.5% decrease from $44,752 thousand in Q1 2025 . #### Net Cash Used in Investing Activities Net cash used in investing activities was -$23,069 thousand in Q1 2026, an 11.9% change from -$26,186 thousand in Q1 2025 . #### Net Cash Used in Financing Activities Net cash used in financing activities was -$42,145 thousand in Q1 2026, a -50.9% change from -$27,932 thousand in Q1 2025 . #### Free Cash Flow Free Cash Flow was $20,231 thousand for Q1 2026, an 8.2% increase from $18,691 thousand in Q1 2025 . #### Free Cash Flow Conversion Rate Free Cash Flow Conversion Rate was 37.6% for Q1 2026, compared to 37.7% for Q1 2025 . #### Cash and Cash Equivalents Cash and Cash Equivalents were $274,095 thousand at March 31, 2026, compared to $296,566 thousand at December 31, 2025 . #### Net Debt Net Debt was $306,466 thousand at March 31, 2026, compared to $308,766 thousand at March 31, 2025, with net leverage approximately 1.4 times . #### Share Repurchases Accel Entertainment, Inc. repurchased 1.1 million shares of Class A-1 common stock for $12 million in Q1 2026 . #### Total Locations Total Locations were 4,540 at the end of Q1 2026, a 3.4% increase from 4,391 at Q1 2025 . Illinois: 2,678 locations, a -2.4% decrease . Montana: 627 locations, a 1.5% increase . Nevada: 450 locations, a 26.8% increase . Louisiana: 99 locations, a 3.1% increase . Nebraska: 290 locations, an 8.6% increase . Georgia: 396 locations, a 27.7% increase . #### Total Gaming Terminals Total Gaming Terminals were 28,353 at the end of Q1 2026, a 4.3% increase from 27,180 at Q1 2025 . Illinois: 15,413 terminals, a -1.4% decrease . Montana: 6,675 terminals, a 2.3% increase . Nevada: 3,348 terminals, a 27.6% increase . Louisiana: 728 terminals, an 18.6% increase . Nebraska: 1,053 terminals, an 11.0% increase . Georgia: 1,136 terminals, a 34.6% increase . #### Location Hold-Per-Day - Illinois: $962 in Q1 2026, an 8.7% increase from $885 in Q1 2025 . - Montana: $639 in Q1 2026, a 4.8% increase from $610 in Q1 2025 . - Nevada: $713 in Q1 2026, a -11.1% decrease from $802 in Q1 2025 . - Louisiana: $1,101 in Q1 2026, a 13.3% increase from $972 in Q1 2025 . - Nebraska: $412 in Q1 2026, a 56.7% increase from $263 in Q1 2025 . - Georgia: $165 in Q1 2026, a 13.8% increase from $145 in Q1 2025 . #### Outlook / Guidance Accel Entertainment, Inc.’s priorities include driving steady organic growth in core markets, scaling profitability in developing markets, executing disciplined tuck-in acquisitions, and consistently converting earnings into free cash flow . 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