$ACEL
Accel Entertainment, Inc.

2020 Q2 Form 10-Q Financial Statement

#000169899120000035 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $379.0K $104.3M
YoY Change -99.64%
Cost Of Revenue $0.00 $66.10M
YoY Change -100.0%
Gross Profit $400.0K $38.20M
YoY Change -98.95%
Gross Profit Margin 105.54% 36.64%
Selling, General & Admin $10.50M $17.50M
YoY Change -40.0%
% of Gross Profit 2625.0% 45.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.100M $6.100M
YoY Change -16.39%
% of Gross Profit 1275.0% 15.97%
Operating Expenses $22.90M $28.90M
YoY Change -20.76% 14350.0%
Operating Profit -$23.84M $9.255M
YoY Change -357.59% -5665.65%
Interest Expense $2.489M $3.156M
YoY Change -21.13% 75.33%
% of Operating Profit 34.1%
Other Income/Expense, Net -$7.200M
YoY Change
Pretax Income -$51.82M $6.099M
YoY Change -949.7% 273.03%
Income Tax -$5.100M $1.800M
% Of Pretax Income 29.51%
Net Earnings -$46.77M $4.328M
YoY Change -1180.59% 170.5%
Net Earnings / Revenue -12339.84% 4.15%
Basic Earnings Per Share -$0.60 $0.07
Diluted Earnings Per Share -$0.60 $0.07
COMMON SHARES
Basic Shares Outstanding 78.32M shares 58.61M shares
Diluted Shares Outstanding 78.32M shares 61.90M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $165.8M $700.0K
YoY Change 23590.57% 600.0%
Cash & Equivalents $148.8M $692.1K
Short-Term Investments $17.00M
Other Short-Term Assets $6.637M $100.0K
YoY Change 6537.0% 0.0%
Inventory
Prepaid Expenses $3.443M $60.70K
Receivables
Other Receivables
Total Short-Term Assets $179.8M $752.8K
YoY Change 23787.05% 150.93%
LONG-TERM ASSETS
Property, Plant & Equipment $123.8M
YoY Change
Goodwill $34.51M
YoY Change
Intangibles
YoY Change
Long-Term Investments $13.00M
YoY Change
Other Assets $221.7M $461.3M
YoY Change -51.94% 1.79%
Total Long-Term Assets $345.5M $461.3M
YoY Change -25.11% 1.78%
TOTAL ASSETS
Total Short-Term Assets $179.8M $752.8K
Total Long-Term Assets $345.5M $461.3M
Total Assets $525.3M $462.0M
YoY Change 13.69% 1.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.30M
YoY Change
Accrued Expenses $0.00 $4.283M
YoY Change -100.0% 970.85%
Deferred Revenue $1.700M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $18.25M
YoY Change
Total Short-Term Liabilities $50.48M $4.283M
YoY Change 1078.39% 970.85%
LONG-TERM LIABILITIES
Long-Term Debt $380.7M $0.00
YoY Change
Other Long-Term Liabilities $21.20M $15.80M
YoY Change 34.18% 0.0%
Total Long-Term Liabilities $441.9M $15.80M
YoY Change 2696.56% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.48M $4.283M
Total Long-Term Liabilities $441.9M $15.80M
Total Liabilities $492.3M $20.03M
YoY Change 2357.55% 24.43%
SHAREHOLDERS EQUITY
Retained Earnings -$43.31M $4.999M
YoY Change -966.5%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$19.83M $67.55M
YoY Change
Total Liabilities & Shareholders Equity $525.3M $462.0M
YoY Change 13.69% 1.88%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$46.77M $4.328M
YoY Change -1180.59% 170.5%
Depreciation, Depletion And Amortization $5.100M $6.100M
YoY Change -16.39%
Cash From Operating Activities -$12.93M $8.180M
YoY Change -258.07% 11585.71%
INVESTING ACTIVITIES
Capital Expenditures -$260.0K -$5.020M
YoY Change -94.82%
Acquisitions
YoY Change
Other Investing Activities $0.00 $20.00K
YoY Change -100.0%
Cash From Investing Activities -$270.0K -$5.000M
YoY Change -94.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.500M 960.0K
YoY Change -568.75% -1471.43%
NET CHANGE
Cash From Operating Activities -12.93M 8.180M
Cash From Investing Activities -270.0K -5.000M
Cash From Financing Activities -4.500M 960.0K
Net Change In Cash -17.70M 4.140M
YoY Change -527.54% -28449863368704000000.0%
FREE CASH FLOW
Cash From Operating Activities -$12.93M $8.180M
Capital Expenditures -$260.0K -$5.020M
Free Cash Flow -$12.67M $13.20M
YoY Change -195.98%

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255000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5195000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1105000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3360000 usd
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
0 usd
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
1050000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
585000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1271000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-69000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-714000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-11319000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1973000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
174000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
81000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17284000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26083000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4123000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10600000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
121000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
52000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4002000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10548000 usd
us-gaap Repayments Of Medium Term Notes
RepaymentsOfMediumTermNotes
6000000 usd
us-gaap Repayments Of Medium Term Notes
RepaymentsOfMediumTermNotes
3125000 usd
acel Proceeds From Issuance Of Delayed Draw Notes
ProceedsFromIssuanceOfDelayedDrawNotes
65000000 usd
acel Proceeds From Issuance Of Delayed Draw Notes
ProceedsFromIssuanceOfDelayedDrawNotes
10750000 usd
acel Repayments Of Delayed Draw Notes
RepaymentsOfDelayedDrawNotes
2313000 usd
acel Repayments Of Delayed Draw Notes
RepaymentsOfDelayedDrawNotes
4750000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-8000000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-12000000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
325000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
acel Proceeds From Exerciseof Common Stock Optionsand Preferred Stock Warrants
ProceedsFromExerciseofCommonStockOptionsandPreferredStockWarrants
359000 usd
acel Proceeds From Exerciseof Common Stock Optionsand Preferred Stock Warrants
ProceedsFromExerciseofCommonStockOptionsandPreferredStockWarrants
1851000 usd
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
4004000 usd
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
452000 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 usd
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
531000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
44717000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8257000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
23431000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7278000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
125403000 usd
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92229000 usd
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
148834000 usd
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
99507000 usd
us-gaap Interest Paid Net
InterestPaidNet
6678000 usd
us-gaap Interest Paid Net
InterestPaidNet
5263000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1759000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10586000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2186000 usd
us-gaap Nature Of Operations
NatureOfOperations
Description of Business<div style="line-height:144%;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accel Entertainment, Inc.'s (and together with its subsidiaries, </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">the</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">“</span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">Company</span><span style="font-family:inherit;font-size:10pt;">”)</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">wholly owned subsidiary, Accel Entertainment Gaming LLC, is a terminal operator licensed by the State of Illinois Gaming Board since March 15, 2012. Its terminal operator license allows the Company to install and operate video gaming terminals in licensed video gaming locations throughout the State of Illinois as approved by individual municipalities. The Company also operates redemption terminals, which also function as automated teller machines (“ATMs”) at its licensed video gaming locations, and amusement equipment at certain locations. The Company is subject to various federal, state and local laws and regulations in addition to gaming regulations. The terminal operator license, which is not transferable or assignable, requires compliance with applicable regulations and the license is renewable annually unless sooner cancelled or terminated.</span></div><div style="line-height:144%;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">The Company operates </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"><span>11,108</span></span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> and </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"><span>8,082</span></span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> video gaming terminals across </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"><span>2,335</span></span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>1,762</span></span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> locations in the State of Illinois as of </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> and </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">2019</span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">, respectively.</span></div><div style="line-height:144%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On November 20, 2019, the Company consummated a business combination which was accounted for as a reverse recapitalization. For more details on the reverse recapitalization, see Note 3 to the Company's Consolidated Financial Statements as presented in its Annual Report on Form 10-K for the year ended </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">. As a result of the reverse recapitalization, all references to numbers of common shares and per common share data for 2019 in these condensed consolidated financial statements and related notes have been retroactively adjusted to account for the effect of the reverse recapitalization.</span></div><div style="line-height:144%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (“</span><span style="font-family:inherit;font-size:10pt;font-style:italic;">JOBS Act</span><span style="font-family:inherit;font-size:10pt;">”) following the consummation of the reverse recapitalization. The Company has elected to use this extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act and as a result of this election, its financial statements may not be comparable to companies that comply with public company effective dates. The Company will remain an “emerging growth company” until the earliest to occur of (i) the last day of the fiscal year (a) following June 30, 2022, (b) in which Accel has total annual gross revenue of at least $1.0 billion or (c) in which Accel is deemed to be a large accelerated filer, which means the market value of Class A-1 Shares that is held by non-affiliates exceeds $700 million as of the last business day of the prior second fiscal quarter, and (ii) the date on which Accel has issued more than $1.0 billion in non-convertible debt during the prior three-year period.</span></div><div style="line-height:144%;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Impact of COVID-19 on the Condensed Consolidated Financial Statements</span></div><div style="line-height:144%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In response to the COVID-19 outbreak, the Illinois Gaming Board </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">(“IGB”)</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">made the decision to shut down all video gaming terminals (“VGTs”) across the State of Illinois starting at 9:00 p.m. on </span><span style="font-family:inherit;font-size:10pt;">March 16, 2020</span><span style="font-family:inherit;font-size:10pt;"> and ultimately extended the shutdown through </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">. The temporary shutdown of Illinois video gaming impacted all of the gaming days during the three months ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>106</span></span><span style="font-family:inherit;font-size:10pt;"> of the </span><span style="font-family:inherit;font-size:10pt;"><span>182</span></span><span style="font-family:inherit;font-size:10pt;"> gaming days (or </span><span style="font-family:inherit;font-size:10pt;"><span>58%</span></span><span style="font-family:inherit;font-size:10pt;"> of gaming days) during the six months ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">. In light of these events and their effect on the Company’s employees and licensed establishment partners, the Company took action to position the Company to help mitigate the effects of the temporary cessation of operations by, among other things, furloughing approximately </span><span style="font-family:inherit;font-size:10pt;"><span>90%</span></span><span style="font-family:inherit;font-size:10pt;"> of its employees and deferring certain payments to major vendors. Additionally, members of the Company's senior management decided to voluntarily forgo their base salaries until the resumption of video gaming operations. Beginning in early June, the Company started reinstating employees from furlough in anticipation of resuming operations on July 1, 2020. </span></div><div style="line-height:144%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of these developments, the Company's revenues, results of operations and cash flows have been materially affected, and the Company expects it to continue for at least as long as COVID-19 is a threat to the public health. The situation is rapidly changing and additional impacts to the business may arise that the Company is not aware of currently. </span></div><div style="line-height:144%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company incurred non-recurring, one-time expenses of </span><span style="font-family:inherit;font-size:10pt;"><span>$1.3</span></span><span style="font-family:inherit;font-size:10pt;"> million and </span><span style="font-family:inherit;font-size:10pt;"><span>$1.9</span></span><span style="font-family:inherit;font-size:10pt;"> million for the three and six months ended </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">, respectively, for costs to provide benefits (e.g. health insurance) for furloughed employees during the COVID-19 shutdown. These costs are included within other expenses, net. The Company also spent </span><span style="font-family:inherit;font-size:10pt;"><span>$1.4</span></span><span style="font-family:inherit;font-size:10pt;"> million in capital costs related to the purchase of IGB-mandated spacers for its VGTs to promote social distancing requirements within the gaming area and incurred operating expenses of </span><span style="font-family:inherit;font-size:10pt;"><span>$0.3</span></span><span style="font-family:inherit;font-size:10pt;"> million related to cleaning, disinfecting and sanitizing supplies.</span></div><div style="line-height:144%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As part of the Company's analysis of the financial reporting impacts of the COVID-19 outbreak, and corollary response in the State of Illinois, including the temporary shutdown of our gaming operations, the Company evaluated its goodwill and long-lived assets for potential impairment triggers as of </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">. As a result of this analysis, no impairment losses were recorded. The Company will continue to monitor its assets for potential impairment losses in future periods. While the IGB has announced the resumption of all video gaming activities effective July 1st, it is possible that it or the State of Illinois may order a shutdown by region (currently 11 regions), or a complete suspension of video gaming in the state, or institute stay-at-home, closure or other similar orders or measures in the future in response to a resurgence of COVID-19 or other events. If this were to occur, the Company could recognize impairment losses which could be material.</span></div><div style="line-height:144%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company also engaged a 3rd party valuation firm to assist in determining the fair value of its investment in convertible notes as of </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">. The valuation concluded that the carrying amount of the investment in the convertible notes approximates the fair value in all material respects, as of </span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">.</span></div>
CY2020Q2 acel Numberof Video Game Terminals
NumberofVideoGameTerminals
11108 terminal
CY2019Q2 acel Numberof Video Game Terminals
NumberofVideoGameTerminals
8082 terminal
CY2020Q2 acel Numberof Video Gaming Locations
NumberofVideoGamingLocations
2335 location
CY2019Q2 acel Numberof Video Gaming Locations
NumberofVideoGamingLocations
1762 location
acel Covid Response Numberof Days Video Gaming Terminals Inoperable
COVIDResponseNumberofDaysVideoGamingTerminalsInoperable
106
acel Covid Response Numberof Video Gaming Daysin Quarter
COVIDResponseNumberofVideoGamingDaysinQuarter
182
acel Covid Response Percentof Days Inoperable During Quarter
COVIDResponsePercentofDaysInoperableDuringQuarter
0.58
acel Covid Response Percentageof Employees Furloughed
COVIDResponsePercentageofEmployeesFurloughed
0.90
CY2020Q2 us-gaap Depreciation
Depreciation
5100000 usd
us-gaap Depreciation
Depreciation
9900000 usd
CY2019Q2 us-gaap Depreciation
Depreciation
6100000 usd
us-gaap Depreciation
Depreciation
12100000 usd
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18600000 usd
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18700000 usd
CY2020Q2 acel Capitalized Contract Cost Subject To Claw Back
CapitalizedContractCostSubjectToClawBack
2100000 usd
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
231017000 usd
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
216624000 usd
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
107258000 usd
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
97423000 usd
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
123759000 usd
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
119201000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:144%;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-weight:bold;">Use of estimates</span><span style="font-family:inherit;font-size:10pt;background-color:#ffffff;">: The preparation of condensed consolidated financial statements requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and (iii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates used by the Company include, among other things, the useful lives for depreciable and amortizable assets, income tax provisions, the evaluation of the future realization of deferred tax assets, projected cash flows in assessing the initial valuation of intangible assets in conjunction with business acquisitions, the selection of useful lives for depreciable and amortizable assets in conjunction with business acquisitions, the valuation of level 3 investments, contingencies, and the expected term of share-based compensation awards and stock price volatility when computing share-based compensation expense. The Company also estimated stock prices prior to the reverse recapitalization discussed in Note 1 when computing share-based compensation expense. Actual results may differ from those estimates.</span></div>
CY2020Q2 acel Contract With Customer Liability Gross
ContractWithCustomerLiabilityGross
6800000 usd
CY2019Q4 acel Contract With Customer Liability Gross
ContractWithCustomerLiabilityGross
7400000 usd
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6400000 usd
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6500000 usd
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1700000 usd
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1700000 usd
CY2019Q3 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
5000000.0 usd
CY2019Q4 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
25000000.0 usd
CY2019Q4 acel Marketable Security Debt Instrument Monthly Principal Payment
MarketableSecurityDebtInstrumentMonthlyPrincipalPayment
1000000 usd
CY2019Q4 acel Capitalized Contract Cost Subject To Claw Back
CapitalizedContractCostSubjectToClawBack
2200000 usd
CY2020Q2 us-gaap Capitalized Contract Cost Gross
CapitalizedContractCostGross
28167000 usd
CY2019Q4 us-gaap Capitalized Contract Cost Gross
CapitalizedContractCostGross
28501000 usd
CY2020Q2 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
11707000 usd
CY2019Q4 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
11102000 usd
CY2020Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
16460000 usd
CY2019Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
17399000 usd
CY2020Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
500000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
900000 usd
CY2019Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
600000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1300000 usd
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
204353000 usd
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
204353000 usd
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
47729000 usd
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
37570000 usd
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
156624000 usd
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
166783000 usd
CY2020Q2 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
28700000 usd
CY2020Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
407188000 usd
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
358500000 usd
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
8198000 usd
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
8808000 usd
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
398990000 usd
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
349692000 usd
CY2020Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
18250000 usd
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
15000000 usd
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
380740000 usd
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
334692000 usd
CY2019Q2 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
119427000 usd
us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
231902000 usd
CY2019Q2 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
5542000 usd
us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
10711000 usd
CY2017Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2020Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
3272000 usd
CY2020Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
16541000 usd
CY2019Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
10293000 usd
CY2019Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
16426000 usd
acel Sensitivity Analysis Of Fair Value Contingent Consideration Impact Of One Percent Decrease In Discount Rate On Other Expenses
SensitivityAnalysisOfFairValueContingentConsiderationImpactOfOnePercentDecreaseInDiscountRateOnOtherExpenses
200000 usd
acel Sensitivity Analysis Of Fair Value Contingent Consideration Impact Of One Percent Increase In Discount Rate On Other Expenses
SensitivityAnalysisOfFairValueContingentConsiderationImpactOfOnePercentIncreaseInDiscountRateOnOtherExpenses
200000 usd
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
253575 shares
CY2013Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
17.80
CY2020Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2019Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
91350 shares
CY2019Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
7333326 shares
CY2019Q4 acel Classof Warrantor Right Number Of Warrants Canceled And Reissued To Prior Stockholders
ClassofWarrantorRightNumberOfWarrantsCanceledAndReissuedToPriorStockholders
2444437 shares
CY2019Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2019Q4 acel Class Of Warrant Or Right Vesting Period After Recapitalization
ClassOfWarrantOrRightVestingPeriodAfterRecapitalization
P30D
CY2017Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
15000000 shares
CY2017Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2017 acel Class Of Warrant Or Right Cash Redemption Price
ClassOfWarrantOrRightCashRedemptionPrice
0.01
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
4328000 usd
us-gaap Net Income Loss
NetIncomeLoss
-23240000 usd
us-gaap Net Income Loss
NetIncomeLoss
8323000 usd
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78317000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58605000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78161000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57896000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1120000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1117000 shares
CY2020Q2 acel Incremental Common Shares Attributableto Dilutive Effectof Stockholder Notes Receivable
IncrementalCommonSharesAttributabletoDilutiveEffectofStockholderNotesReceivable
0 shares
CY2019Q2 acel Incremental Common Shares Attributableto Dilutive Effectof Stockholder Notes Receivable
IncrementalCommonSharesAttributabletoDilutiveEffectofStockholderNotesReceivable
917000 shares
acel Incremental Common Shares Attributableto Dilutive Effectof Stockholder Notes Receivable
IncrementalCommonSharesAttributabletoDilutiveEffectofStockholderNotesReceivable
0 shares
acel Incremental Common Shares Attributableto Dilutive Effectof Stockholder Notes Receivable
IncrementalCommonSharesAttributabletoDilutiveEffectofStockholderNotesReceivable
948000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1263000 shares
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2400000 usd
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300000 usd
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5100000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5200000 usd
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1800000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3400000 usd
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.192
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.183
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.290
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.293
us-gaap Loss Contingency Number Of Defendants
LossContingencyNumberOfDefendants
10 defendent
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-21274000 usd
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1781000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78317000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61904000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78161000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61742000 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5401791 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5715823 shares
CY2019Q3 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
5000000.0 usd
CY2019Q4 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
25000000.0 usd

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