$ACEL
Accel Entertainment, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019017264 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $97.40M $0.00
YoY Change
Cost Of Revenue $61.60M
YoY Change
Gross Profit $35.80M
YoY Change
Gross Profit Margin 36.76%
Selling, General & Admin $16.10M
YoY Change
% of Gross Profit 44.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.000M
YoY Change
% of Gross Profit 16.76%
Operating Expenses $27.10M $300.0K
YoY Change 8933.33%
Operating Profit $8.700M -$288.6K
YoY Change -3114.55% 262.85%
Interest Expense -$3.000M $1.415M
YoY Change -312.02%
% of Operating Profit -34.48%
Other Income/Expense, Net
YoY Change
Pretax Income $2.373M $1.126M
YoY Change 110.71% -1516.16%
Income Tax $1.700M $0.00
% Of Pretax Income 71.63% 0.0%
Net Earnings $3.995M $1.100M
YoY Change 263.18%
Net Earnings / Revenue 4.1%
Basic Earnings Per Share $0.07
Diluted Earnings Per Share $0.06 $19.54K
COMMON SHARES
Basic Shares Outstanding 57.59M shares
Diluted Shares Outstanding 61.95M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.0K $100.0K
YoY Change 200.0%
Cash & Equivalents $331.9K $146.2K
Short-Term Investments
Other Short-Term Assets $0.00 $200.0K
YoY Change -100.0%
Inventory
Prepaid Expenses $151.9K
Receivables
Other Receivables
Total Short-Term Assets $300.0K $298.1K
YoY Change 0.65%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $459.5M $451.4M
YoY Change 1.79%
Total Long-Term Assets $459.5M $451.4M
YoY Change 1.79%
TOTAL ASSETS
Total Short-Term Assets $300.0K $298.1K
Total Long-Term Assets $459.5M $451.4M
Total Assets $459.8M $451.7M
YoY Change 1.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $200.0K $237.3K
YoY Change -15.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $200.0K $237.3K
YoY Change -15.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.80M $15.80M
YoY Change 0.0%
Total Long-Term Liabilities $15.80M $15.80M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $200.0K $237.3K
Total Long-Term Liabilities $15.80M $15.80M
Total Liabilities $16.00M $15.99M
YoY Change 0.08%
SHAREHOLDERS EQUITY
Retained Earnings $750.0K
YoY Change
Common Stock $4.249M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.80M $5.000M
YoY Change
Total Liabilities & Shareholders Equity $459.8M $451.7M
YoY Change 1.79%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $3.995M $1.100M
YoY Change 263.18%
Depreciation, Depletion And Amortization $6.000M
YoY Change
Cash From Operating Activities $17.90M -$206.3K
YoY Change -8777.44%
INVESTING ACTIVITIES
Capital Expenditures $5.579M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $30.00K
YoY Change
Cash From Investing Activities -$5.551M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$9.219M -19.63K
YoY Change 46866.22%
NET CHANGE
Cash From Operating Activities $17.90M -206.3K
Cash From Investing Activities -$5.551M
Cash From Financing Activities -$9.219M -19.63K
Net Change In Cash $3.130M -225.9K
YoY Change -1485.5%
FREE CASH FLOW
Cash From Operating Activities $17.90M -$206.3K
Capital Expenditures $5.579M
Free Cash Flow $12.32M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4998746
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
5000006
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
457467378
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
56250000
CY2018Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
288600
CY2019Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
2534255
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2373378
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1126385
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
56250000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
5000005
CY2018Q1 tpgh Stockholders Equity Reclassification To From Temporary Equity Value
StockholdersEquityReclassificationToFromTemporaryEquityValue
1126380
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1126385
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
5000010
CY2019Q1 tpgh Adjustments To Additional Paid In Capital Retained Earnings Of Equity Adjustments
AdjustmentsToAdditionalPaidInCapitalRetainedEarningsOfEquityAdjustments
0
CY2019Q1 tpgh Stockholders Equity Reclassification To From Temporary Equity Value
StockholdersEquityReclassificationToFromTemporaryEquityValue
2373380
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2373378
CY2019Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-17500
CY2018Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
17178
CY2019Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-23566
CY2018Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
99496
CY2019Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
2534255
CY2018Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1414985
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-166943
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-206282
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-13958
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-19629
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13958
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19629
CY2019Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-180901
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-225911
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
512827
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
372073
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
331926
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
146162
CY2019Q1 tpgh Accrued Offering Cost
AccruedOfferingCost
0
CY2018Q1 tpgh Accrued Offering Cost
AccruedOfferingCost
101172
CY2019Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:4.54%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p>
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:4.54%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S.&#160;GAAP requires the Company&#8217;s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p>
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017Q2 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
300000
CY2018Q3 tpgh Trust Account Interest Withdrawal To Pay Operating Expenses
TrustAccountInterestWithdrawalToPayOperatingExpenses
750000
CY2019Q1 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
0
CY2019Q1 us-gaap Underwriting Commitments
UnderwritingCommitments
no Deferred Discount is payable to the underwriters if a Business Combination is not completed within 24 months after the Close Date, or 27 months from the Close Date if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial business combination within 24 months of the Close Date.
CY2019Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-02-14
CY2019Q1 tpgh Public Offering Closing Date
PublicOfferingClosingDate
2017-06-30
CY2017Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
450000000
CY2017Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
11000000
CY2019Q1 tpgh Trust Account Interest Withdrawal Annual Limit To Fund Working Capital And Tax Payment
TrustAccountInterestWithdrawalAnnualLimitToFundWorkingCapitalAndTaxPayment
750000
CY2019Q1 tpgh Trust Account Threshold For Release Of Funds
TrustAccountThresholdForReleaseOfFunds
1.00
CY2019Q1 tpgh Remaining Proceeds Held Outside Trust Account
RemainingProceedsHeldOutsideTrustAccount
2000000
CY2019Q1 tpgh Repayments On Loans
RepaymentsOnLoans
300000
CY2019Q1 us-gaap Minimum Net Worth Required For Compliance
MinimumNetWorthRequiredForCompliance
5000001
CY2019Q1 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2019Q1 tpgh Term For Completion Of Business Acquisition
TermForCompletionOfBusinessAcquisition
The Company’s Sponsor and five independent directors (collectively, “Initial Shareholders”) and the Company’s officers and directors have entered into a letter agreement with the Company, pursuant to which they have waived their rights to liquidating distributions from the Trust Account with respect to their Founder Shares (as defined in Note 4) if the Company fails to complete the Business Combination within 24 months from the Close Date, or 27 months from the Close Date if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial business combination within 24 months of the Close Date.
CY2019Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2019Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2019Q1 tpgh Maximum Underwriter Discount
MaximumUnderwriterDiscount
24750000
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2019Q1 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0

Files In Submission

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0001564590-19-017264-index-headers.html Edgar Link pending
0001564590-19-017264-index.html Edgar Link pending
0001564590-19-017264.txt Edgar Link pending
0001564590-19-017264-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tpgh-10q_20190331.htm Edgar Link pending
tpgh-20190331.xml Edgar Link completed
tpgh-20190331.xsd Edgar Link pending
tpgh-20190331_cal.xml Edgar Link unprocessable
tpgh-20190331_def.xml Edgar Link unprocessable
tpgh-20190331_lab.xml Edgar Link unprocessable
tpgh-20190331_pre.xml Edgar Link unprocessable
tpgh-ex311_8.htm Edgar Link pending
tpgh-ex312_7.htm Edgar Link pending
tpgh-ex321_6.htm Edgar Link pending
tpgh-ex322_9.htm Edgar Link pending