Lucky Strike Entertainment (LUCK) 10-Q 5 Feb 25 2025 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 29, 2024	Jan. 29, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 29, 2024
Document Transition Report	false
Entity File Number	001-40142
Entity Registrant Name	LUCKY STRIKE ENTERTAINMENT CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1632024
Entity Address, Address Line One	7313 Bell Creek Road
Entity Address, City or Town	Mechanicsville
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23111
City Area Code	(804)
Local Phone Number	417-2000
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	LUCK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001840572
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--06-29
Amendment Flag	false
Class A ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		84,477,211
Class B ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		58,519,437

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 80,755	$ 66,972
Accounts and notes receivable, net	6,102	6,757
Inventories, net	15,927	13,171
Prepaid expenses and other current assets	35,220	25,316
Assets held-for-sale	20	1,746
Total current assets	138,024	113,962
Property and equipment, net	935,854	887,738
Operating lease right of use assets	591,264	559,168
Finance lease right of use assets, net	516,144	524,392
Intangible assets, net	46,331	47,051
Goodwill	841,269	833,888
Deferred income tax asset	135,718	112,106
Other assets	35,381	35,730
Total assets	3,239,985	3,114,035
Current liabilities:
Accounts payable and accrued expenses	141,363	135,784
Current maturities of long-term debt	10,278	9,163
Current obligations of operating lease liabilities	31,637	28,460
Other current liabilities	7,680	9,399
Total current liabilities	190,958	182,806
Long-term debt, net	1,275,757	1,129,523
Long-term obligations of operating lease liabilities	603,986	561,916
Long-term obligations of finance lease liabilities	680,622	680,213
Long-term financing obligations	445,027	440,875
Earnout liability	69,058	137,636
Other long-term liabilities	26,310	26,471
Deferred income tax liabilities	4,007	4,447
Total liabilities	3,295,725	3,163,887
Commitments and Contingencies (Note 9)
Temporary Equity
Series A preferred stock	123,918	127,410
Stockholders’ Deficit
Additional paid-in capital	504,830	510,675
Treasury stock, at cost	(430,851)	(385,015)
Accumulated deficit	(251,757)	(303,159)
Accumulated other comprehensive (loss) income	(1,897)	220
Total stockholders’ deficit	(179,658)	(177,262)
Total liabilities, temporary equity and stockholders’ deficit	3,239,985	3,114,035
Class A ordinary shares
Stockholders’ Deficit
Common stock	11	11
Class B ordinary shares
Stockholders’ Deficit
Common stock	$ 6	$ 6

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Total revenues	$ 300,074	$ 305,671	$ 560,269	$ 533,076
Costs and expenses
Location operating costs, excluding depreciation and amortization	82,694	78,837	168,922	152,210
Location payroll and benefit costs	70,876	77,742	138,312	140,796
Location food and beverage costs	23,225	23,920	43,755	40,605
Selling, general and administrative expenses, excluding depreciation and amortization	34,384	35,835	69,195	73,959
Depreciation and amortization	39,118	37,071	76,101	68,423
Loss on impairment and disposal of fixed assets, net	2,575	50	4,047	49
Other operating expense, net	329	2,739	118	2,201
Total costs and expenses	253,201	256,194	500,450	478,243
Operating income	46,873	49,477	59,819	54,833
Other (income) expenses
Interest expense, net	48,795	46,236	97,465	83,685
Change in fair value of earnout liability	(19,682)	64,091	(68,603)	23,409
Other expense	800	10	800	63
Total other expense	29,913	110,337	29,662	107,157
Income (loss) before income tax (benefit) expense	16,960	(60,860)	30,157	(52,324)
Income tax (benefit) expense	(11,347)	2,609	(21,245)	(7,074)
Net income (loss)	28,307	(63,469)	51,402	(45,250)
Series A preferred stock dividends	(2,240)	(1,963)	(4,454)	(3,925)
Earnings allocated to Series A preferred stock	(1,640)	0	(2,930)	0
Net income (loss) attributable to common stockholders, basic	24,427	(65,432)	44,018	(49,175)
Net income (loss) attributable to common stockholders, diluted	$ 24,427	$ (65,432)	$ 44,018	$ (49,175)
Net income (loss) per share attributable to Class A and B common stockholders
Basic (in dollars per share)	$ 0.17	$ (0.44)	$ 0.30	$ (0.32)
Diluted (in dollars per share)	$ 0.16	$ (0.44)	$ 0.29	$ (0.32)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders
Basic (in shares)	143,939,878	149,805,531	144,853,328	155,367,461
Diluted (in shares)	152,957,223	149,805,531	154,228,643	155,367,461
Bowling
Total revenues	$ 138,967	$ 145,295	$ 261,170	$ 261,725
Food & beverage
Total revenues	110,902	111,192	198,941	186,105
Amusement & other
Total revenues	$ 50,205	$ 49,184	$ 100,158	$ 85,246

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 28,307	$ (63,469)	$ 51,402	$ (45,250)
Other comprehensive income (loss), net of income tax:
Unrealized gain (loss) on derivatives	312	(3,110)	(397)	(3,450)
Foreign currency translation adjustment	(735)	666	(1,720)	179
Other comprehensive loss	(423)	(2,444)	(2,117)	(3,271)
Total comprehensive income (loss)	$ 27,884	$ (65,913)	$ 49,285	$ (48,521)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Temporary Equity and Stockholders' (Deficit) Equity - USD ($) $ in Thousands	Total	Treasury stock	Additional Paid-in capital	Accumulated deficit	Accumulated other comprehensive income (loss)	Series A preferred stock	Class A common Stock	Class A common Stock Common stock	Class B common Stock	Class B common Stock Common stock
Beginning balance (in shares) at Jul. 02, 2023						136,373
Beginning balance at Jul. 02, 2023						$ 144,329
Ending balance (in shares) at Oct. 01, 2023						136,373
Ending balance at Oct. 01, 2023						$ 144,329
Beginning balance (in shares) at Jul. 02, 2023								107,666,301		60,819,437
Beginning balance at Jul. 02, 2023	$ 155,221	$ (135,401)	$ 506,112	$ (219,659)	$ 4,152			$ 11		$ 6
Beginning balance (in shares) at Jul. 02, 2023		11,312,302
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	18,219			18,219
Foreign currency translation adjustment	(487)				(487)
Unrealized gain (loss) on derivatives	(340)				(340)
Conversion of Class B common stock into Class A common stock (in shares)								2,300,000		2,300,000
Share-based compensation (in shares)								15,489
Share-based compensation	1,823		1,823
Repurchase of Class A common stock into Treasury stock (in shares)		(12,131,185)						(12,131,185)
Repurchase of Class A common stock into Treasury stock	(132,663)	$ (132,662)						$ (1)
Ending balance (in shares) at Oct. 01, 2023								97,850,605		58,519,437
Ending balance at Oct. 01, 2023	41,773	$ (268,063)	507,935	(201,440)	3,325			$ 10		$ 6
Ending balance (in shares) at Oct. 01, 2023		23,443,487
Beginning balance (in shares) at Jul. 02, 2023						136,373
Beginning balance at Jul. 02, 2023						$ 144,329
Ending balance (in shares) at Dec. 31, 2023						136,373
Ending balance at Dec. 31, 2023						$ 144,329
Beginning balance (in shares) at Jul. 02, 2023								107,666,301		60,819,437
Beginning balance at Jul. 02, 2023	155,221	$ (135,401)	506,112	(219,659)	4,152			$ 11		$ 6
Beginning balance (in shares) at Jul. 02, 2023		11,312,302
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on derivatives	(3,450)
Ending balance (in shares) at Dec. 31, 2023								90,664,596		58,519,437
Ending balance at Dec. 31, 2023	(104,973)	$ (349,025)	508,065	(264,909)	881			$ 9		$ 6
Ending balance (in shares) at Dec. 31, 2023		30,960,342
Beginning balance (in shares) at Oct. 01, 2023						136,373
Beginning balance at Oct. 01, 2023						$ 144,329
Ending balance (in shares) at Dec. 31, 2023						136,373
Ending balance at Dec. 31, 2023						$ 144,329
Beginning balance (in shares) at Oct. 01, 2023								97,850,605		58,519,437
Beginning balance at Oct. 01, 2023	41,773	$ (268,063)	507,935	(201,440)	3,325			$ 10		$ 6
Beginning balance (in shares) at Oct. 01, 2023		23,443,487
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(63,469)			(63,469)
Foreign currency translation adjustment	666				666
Unrealized gain (loss) on derivatives	(3,110)				(3,110)
Share-based compensation (in shares)								330,846
Share-based compensation	4,099		4,099
Cash dividends	(3,969)		(3,969)
Repurchase of Class A common stock into Treasury stock (in shares)		(7,516,855)						(7,516,855)
Repurchase of Class A common stock into Treasury stock	(80,963)	$ (80,962)						$ (1)
Ending balance (in shares) at Dec. 31, 2023								90,664,596		58,519,437
Ending balance at Dec. 31, 2023	(104,973)	$ (349,025)	508,065	(264,909)	881			$ 9		$ 6
Ending balance (in shares) at Dec. 31, 2023		30,960,342
Beginning balance (in shares) at Jun. 30, 2024						120,387
Beginning balance at Jun. 30, 2024	127,410					$ 127,410
Increase (Decrease) in Temporary Equity [Roll Forward]
Settlement of Series A preferred stock (in shares)						(3,300)
Settlement of Series A preferred stock						$ (3,492)
Ending balance (in shares) at Sep. 29, 2024						117,087
Ending balance at Sep. 29, 2024						$ 123,918
Beginning balance (in shares) at Jun. 30, 2024							88,854,487	88,854,487	58,519,437	58,519,437
Beginning balance at Jun. 30, 2024	$ (177,262)	$ (385,015)	510,675	(303,159)	220			$ 11		$ 6
Beginning balance (in shares) at Jun. 30, 2024	34,071,295	34,071,295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 23,095			23,095
Foreign currency translation adjustment	(985)				(985)
Unrealized gain (loss) on derivatives	(709)				(709)
Settlement of Series A preferred stock (in shares)								269,886
Settlement of Series A preferred stock	3,492		3,492
Share-based compensation (in shares)								26,656
Share-based compensation	4,314		4,314
Cash dividends	(8,552)		(8,552)
Repurchase of Class A common stock into Treasury stock (in shares)		(702,194)						(702,194)
Repurchase of Class A common stock into Treasury stock	(7,720)	$ (7,720)
Ending balance (in shares) at Sep. 29, 2024								88,448,835		58,519,437
Ending balance at Sep. 29, 2024	(164,327)	$ (392,735)	509,929	(280,064)	(1,474)			$ 11		$ 6
Ending balance (in shares) at Sep. 29, 2024		34,773,489
Beginning balance (in shares) at Jun. 30, 2024						120,387
Beginning balance at Jun. 30, 2024	127,410					$ 127,410
Ending balance (in shares) at Dec. 29, 2024						117,087
Ending balance at Dec. 29, 2024	123,918					$ 123,918
Beginning balance (in shares) at Jun. 30, 2024							88,854,487	88,854,487	58,519,437	58,519,437
Beginning balance at Jun. 30, 2024	$ (177,262)	$ (385,015)	510,675	(303,159)	220			$ 11		$ 6
Beginning balance (in shares) at Jun. 30, 2024	34,071,295	34,071,295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on derivatives	$ (397)
Conversion of Class B common stock into Class A common stock (in shares)							269,886
Repurchase of Class A common stock into Treasury stock (in shares)							(4,037,170)
Repurchase of Class A common stock into Treasury stock							$ (45,420)
Ending balance (in shares) at Dec. 29, 2024							85,431,233	85,431,233	58,519,437	58,519,437
Ending balance at Dec. 29, 2024	$ (179,658)	$ (430,851)	504,830	(251,757)	(1,897)			$ 11		$ 6
Ending balance (in shares) at Dec. 29, 2024	38,108,465	38,108,465
Beginning balance (in shares) at Sep. 29, 2024						117,087
Beginning balance at Sep. 29, 2024						$ 123,918
Ending balance (in shares) at Dec. 29, 2024						117,087
Ending balance at Dec. 29, 2024	$ 123,918					$ 123,918
Beginning balance (in shares) at Sep. 29, 2024								88,448,835		58,519,437
Beginning balance at Sep. 29, 2024	(164,327)	$ (392,735)	509,929	(280,064)	(1,474)			$ 11		$ 6
Beginning balance (in shares) at Sep. 29, 2024		34,773,489
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	28,307			28,307
Foreign currency translation adjustment	(735)				(735)
Unrealized gain (loss) on derivatives	312				312
Share-based compensation (in shares)								317,374
Share-based compensation	3,374		3,374
Cash dividends	(8,473)		(8,473)
Repurchase of Class A common stock into Treasury stock (in shares)		(3,334,976)						(3,334,976)
Repurchase of Class A common stock into Treasury stock	(38,116)	$ (38,116)
Ending balance (in shares) at Dec. 29, 2024							85,431,233	85,431,233	58,519,437	58,519,437
Ending balance at Dec. 29, 2024	$ (179,658)	$ (430,851)	$ 504,830	$ (251,757)	$ (1,897)			$ 11		$ 6
Ending balance (in shares) at Dec. 29, 2024	38,108,465	38,108,465

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023
Operating activities
Net income (loss)	$ 51,402	$ (45,250)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	76,101	68,423
Loss on impairment and disposal of fixed assets, net	4,047	49
Income from equity method investment	(136)	(160)
Amortization of deferred financing costs	1,772	1,715
Non-cash interest expense on finance lease obligation	5,699	3,709
Reduction of operating lease right of use assets	17,893	16,586
Non-cash portion of gain on lease modification	0	(499)
Deferred income taxes	(22,013)	(7,099)
Share-based compensation	9,167	5,600
Distributions from equity method investments	127	147
Change in fair value of earnout liability	(68,603)	23,409
Changes in assets and liabilities, net of business acquisitions:
Accounts receivable and notes receivable, net	1,197	(3,784)
Inventories	(2,014)	(2,108)
Prepaids, other current assets and other assets	(7,228)	(4,146)
Accounts payable and accrued expenses	9,601	27,600
Operating lease liabilities	(4,543)	(14,140)
Other current liabilities	(3,844)	(312)
Other long-term liabilities	(478)	1,459
Net cash provided by operating activities	68,147	71,199
Investing activities
Purchases of property and equipment	(92,005)	(113,587)
Purchases of intangible assets	0	(259)
Proceeds from sale of property and equipment	1,655	0
Proceeds from sale of intangibles	0	65
Acquisitions, net of cash acquired	(42,864)	(132,885)
Net cash used in investing activities	(133,214)	(246,666)
Financing activities
Repurchase of Class A common stock into Treasury stock	(45,420)	(218,669)
Proceeds from share issuance	0	1,274
Payments for tax withholdings on share-based compensation	(1,454)	(925)
Payment of cash dividends	(17,024)	(3,969)
Payment of long-term debt	(3,380)	(6,525)
Proceeds from Incremental Term Loan	150,000	0
Payment on finance leases	(3,117)	(3,177)
Proceeds on finance leases	417	0
Proceeds from Revolver draws	110,000	175,000
Payoff from Revolver draws	(110,000)	(175,000)
Proceeds from sale-leaseback financing	0	408,510
Payment of deferred financing costs	(923)	(6,781)
Net cash provided by financing activities	79,099	169,738
Effect of exchange rates on cash	(249)	51
Net increase (decrease) in cash and cash equivalents	13,783	(5,678)
Cash and cash equivalents at beginning of period	66,972	195,633
Cash and cash equivalents at end of period	$ 80,755	$ 189,955

Description of Business and Sig

Description of Business and Significant Accounting Policies	6 Months Ended
	Dec. 29, 2024
Accounting Policies [Abstract]
Description of Business and Significant Accounting Policies	Description of Business and Significant Accounting Policies Lucky Strike Entertainment Corporation, a Delaware corporation, and its subsidiaries (referred to herein as, the “Company”, “Lucky Strike Entertainment”, “Lucky Strike”, “we,” “us” and “our”) is one of the world’s premier operators of location-based entertainment. Effective December 12, 2024, the company changed its name from Bowlero Corporation to Lucky Strike Entertainment Corporation and its stock ticker symbol changed from NYSE: BOWL to NYSE: LUCK, further emphasizing the brand’s evolution and commitment to offering a broader range of entertainment experiences, expanding beyond traditional bowling and positioning Lucky Strike Entertainment as a premier entertainment destination. The Company operates location-based entertainment venues under different brand names. Our AMF and Bowl America branded locations are traditional bowling centers, while the Bowlero and Lucky Strike branded locations offer a more upscale entertainment concept with lounge seating, enhanced food and beverage offerings, and more robust customer service for individuals and group events. Additionally, within the brands, there exists a spectrum where some AMF branded locations are more upscale and some Bowlero branded locations are more traditional. The Company also operates other forms of location-based entertainment, such as Octane Raceway, Raging Waves water park, and Boomers Parks (inclusive of Big Kahuna’s water park). All of our locations, regardless of branding, are managed in a fully integrated and consistent basis because all of our locations are in the same business of operating location-based entertainment. Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Our quarterly financial data should be read in conjunction with the audited financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024. Change in Presentation: In the first quarter of fiscal year 2025, the Company made a change to its condensed consolidated statements of operations presentation in order to enhance our disclosures by disaggregating previously combined revenues and costs of revenues, reclassifying depreciation and amortization to be a separate financial statement line item, and reclassifying certain amounts to selling, general, and administrative expenses. The change in presentation will enhance the comparability of our financial statements with industry peers and present a more detailed picture of our operations. Certain prior period amounts in the condensed consolidated statements of operations have been reclassified to conform with the current period presentation. The reclassifications made had no impact to revenue, income (loss) from operations, net income (loss), earnings (loss) per share, retained earnings or other components of equity or net assets. Principles of Consolidation: The condensed consolidated financial statements and related notes include the accounts of Lucky Strike and the subsidiaries it controls. Control is determined based on ownership rights or, when applicable, based on whether the Company is considered to be the primary beneficiary of a variable interest entity. We use the equity method to account for investments in which we have the ability to exercise significant influence over the investee’s operating and financial policies, or in which we hold a partnership or limited liability company interest in an entity with specific ownership accounts, unless we have virtually no influence over the investee’s operating and financial policies. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates: The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the balance sheets, statements of operations and accompanying notes. Significant estimates made by management include, but are not limited to, cash flow projections; the fair value of assets and liabilities in acquisitions; derivatives with hedge accounting; share-based compensation; depreciation and impairment of long-lived assets; carrying amount and recoverability analyses of property and equipment, assets held for sale, goodwill and other intangible assets; valuation of deferred tax assets and liabilities and income tax uncertainties; and reserves for litigation, claims and self-insurance costs. Actual results could differ from those estimates. Fair-value Estimates: We have various financial instruments included in our financial statements. Financial instruments are carried in our financial statements at either cost or fair value. We estimate fair value of assets and liabilities using the following hierarchy using the highest level possible: Level 1: Quoted prices in active markets that are accessible at the measurement date for identical assets and liabilities. Level 2: Observable prices that are based on inputs not quoted on active markets, but are corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. Cash and Cash Equivalents: The Company considers all highly liquid investments with a maturity date of three months or less when purchased to be cash equivalents. The Company accepts a range of debit and credit cards, and these transactions are generally transmitted to a bank for reimbursement within 24 hours. The payments due from the banks for these debit and credit card transactions are generally received, or settled, within 24 to 48 hours of the transmission date. The Company considers all debit and credit card transactions that settle in less than seven days to be cash equivalents. Equity Method Investments: The aggregate carrying amounts of our equity method investments was $25,843 and $25,848 as of December 29, 2024 and June 30, 2024, respectively, and are included as a component of Other Assets in our accompanying condensed consolidated balance sheets. Substantially all of our equity method investments consist of a limited partner interest in a subsidiary of VICI Properties Inc. (“VICI”). Equity method investments are adjusted to recognize (1) our share, based on percentage ownership or other contractual basis, of the investee’s net income or loss after the date of investment, (2) additional contributions made or distributions received, (3) amortization of the recorded investment that exceeds our share of the book value of the investee’s net assets, and (4) impairments resulting from other-than-temporary declines in fair value. Cash distributions received from our equity method investments are considered returns on investment and presented within operating activities in the condensed consolidated statement of cash flows to the extent of cumulative equity in net income of the investee. Additional distributions in excess of cumulative equity are considered returns of our investment and are presented as investing activities. Derivatives: We are exposed to interest rate risk. To manage this risk, we entered into interest rate collar derivative transactions associated with a portion of our outstanding debt. The interest rate collars, which are designated for accounting purposes as cash flow hedges, establish a cap and floor on the Secured Overnight Financing Rate (SOFR). The Company's interest rate collars expire on March 31, 2026. For financial derivative instruments that are designated as a cash flow hedge for accounting purposes, the effective portion of the gain or loss on the financial derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the forecasted transaction, and in the same period or periods during which the forecasted transaction affects earnings. Gains and losses on the financial derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. The interest rate collar agreements effectively modified our exposure to interest rate risk by converting a portion of our interest payments on floating rate debt to include a cap and floor, thus reducing the impact of interest rate changes on future interest expense. See Note 7 - Debt for more information. Net Income (loss) Per Share Attributable to Common Stockholders: We compute net income (loss) per share of Class A common stock and Class B common stock under the two-class method. Holders of Class A common stock and Class B common stock have equal rights to the earnings of the Company. Our participating securities include the Series A preferred stock that have a non-forfeitable right to dividends in the event that a dividend is paid on common stock, but do not participate in losses, and thus are not included in a two-class method in periods of loss. In periods where the Company reports a net loss, all potentially dilutive securities are excluded from the calculation of the diluted net loss per share attributable to common stockholders as their effect is antidilutive and accordingly, basic and diluted net loss per share attributable to common stockholders will be the same. Dilutive securities include Series A preferred stock, earnouts, stock options, and restricted stock units (“RSUs”). See Note 14 -  Net Income (Loss) Per Share . Emerging Growth Company Status: The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as modified by the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of our financial statements with those of another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult because of the potential differences in accounting standards used. Recently Issued Accounting Standards: In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (“Topic 280”) Improvements to Reportable Segment Disclosures , which requires p ublic entities, including those with a single reportable segment, to provide all the disclosures required by this standard and all existing segment disclosures required by Topic 280 on an interim and annual basis, including new requirements to disclose significant segment expenses that are regularly provided to the the chief operating decision maker (“CODM”), which is our chief executive officer (“CEO”) and included within the reported measure(s) of a segment's profit or loss, the amount and composition of any other segment items, the title and position of the CODM, and how the CODM uses the reported measure(s) of a segment's profit or loss to assess performance and decide how to allocate resources. Further, it requires that all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 be provided in interim periods. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024, applied retrospectively. We are currently evaluating the impact of this standard to our consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (“Topic 740”): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures through the standardization and disaggregation of rate reconciliation categories and income taxes paid in both domestic and foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be applied prospectively, with early adoption and retrospective application permitted. We are currently evaluating the impact of this standard to our consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires the disaggregation of certain expenses in the notes of the financials, to provide enhanced transparency into the expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027 and may be applied either prospectively or retrospectively. We are currently evaluating the impact of this standard to our consolidated financial statements.

Business Acquisitions

Business Acquisitions	6 Months Ended
	Dec. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Acquisitions	Business Acquisitions Acquisitions: The Company continually evaluates potential acquisitions, which can be either business combinations or asset purchases, that strategically fit within the Company’s overall growth strategy in order to expand our market share in key geographic areas and to improve our ability to leverage our fixed costs. 2025 Business Acquisitions: For business combinations, the Company allocates the consideration transferred to the identifiable assets acquired and liabilities assumed based on their preliminary estimated fair values as of the acquisition date. We estimate the fair values of the assets acquired and liabilities assumed using valuation techniques, such as the income, cost and market approaches. During the six months ended December 29, 2024, the Company had two acquisitions in which we acquired eight locations for a total consideration of $42,864. The Company is still in the process of finalizing its valuation analyses for the acquisitions. The remaining fair value estimates include working capital, intangibles, property and equipment, and operating lease assets and liabilities. If necessary, for business combinations, we will continue to refine our estimates throughout the permitted measurement period, which may result in corresponding offsets to goodwill. We expect to finalize the valuations as soon as possible, but no later than one year after the respective acquisition dates. The following table summarizes the preliminary purchase price allocations for the fair values of the identifiable assets acquired and liabilities assumed, components of consideration transferred and the transactional related expenses during the six months ended December 29, 2024 using the acquisition method of accounting: Identifiable assets acquired and liabilities assumed Total Current assets $ 3,688 Assets held for sale (1) 16,318 Property and equipment 35,117 Operating lease ROU 44,748 Identifiable intangible assets 3,022 Goodwill 7,308 Deferred income tax asset 1,458 Other assets 633 Total assets acquired $ 112,292 Current liabilities $ (7,787) Liabilities held for sale (1) (15,698) Operating lease liabilities (44,860) Other liabilities (1,083) Total liabilities assumed (69,428) Total fair value, net of cash of $417 $ 42,864 Components of consideration transferred Cash $ 42,864 Total $ 42,864 (1) Certain acquired assets and assumed liabilities were designated as held for sale as of the acquisition date and sold during the six months ended December 29, 2024.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill: The changes in the carrying amount of goodwill for the period ended December 29, 2024: Balance as of June 30, 2024 $ 833,888 Goodwill resulting from acquisitions during fiscal year 2025 7,308 Adjustments to preliminary fair values for prior year acquisitions 73 Balance as of December 29, 2024 $ 841,269 Intangible Assets: December 29, 2024 June 30, 2024 Gross Accumulated Net Gross Accumulated Net Finite-lived intangible assets: AMF trade name $ — $ — $ — $ 9,900 $ (9,900) $ — Bowlero trade name 14,870 (2,990) 11,880 14,870 (614) 14,256 Other acquisition trade names 2,250 (1,146) 1,104 3,460 (2,276) 1,184 Customer relationships 4,055 (2,967) 1,088 24,185 (22,808) 1,377 Management contracts 300 (279) 21 1,800 (1,763) 37 Non-compete agreements 3,464 (1,737) 1,727 4,364 (2,395) 1,969 PBA member, sponsor & media relationships 1,200 (595) 605 1,400 (739) 661 Other intangible assets 754 (448) 306 921 (542) 379 26,893 (10,162) 16,731 60,900 (41,037) 19,863 Indefinite-lived intangible assets: Liquor licenses 12,830 — 12,830 12,418 — 12,418 Lucky Strike trade name 8,360 — 8,360 8,360 — 8,360 Other trade names 8,410 — 8,410 6,410 — 6,410 29,600 — 29,600 27,188 — 27,188 $ 56,493 $ (10,162) $ 46,331 $ 88,088 $ (41,037) $ 47,051 The following table shows amortization expense for finite-lived intangible assets for each reporting period: Three Months Ended Six Months Ended December 29, 2024 December 31, December 29, December 31, Amortization expense $ 1,801 $ 1,760 $ 3,754 $ 3,541

Property and Equipment

Property and Equipment	6 Months Ended
	Dec. 29, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment As of December 29, 2024 and June 30, 2024, property and equipment consists of: December 29, 2024 June 30, 2024 Land (1) $ 118,378 $ 108,442 Building and leasehold improvements 729,465 663,537 Equipment, software, furniture, and fixtures 670,755 630,280 Construction in progress 29,730 55,343 1,548,328 1,457,602 Accumulated depreciation (612,474) (569,864) Property and equipment, net of accumulated depreciation $ 935,854 $ 887,738 (1) Includes the 66 acres of land adjacent to Raging Waves water park that was purchased on December 16, 2024 for $9,400. The following table shows depreciation expense related to property and equipment for each reporting period: Three Months Ended Six Months Ended December 29, 2024 December 31, 2023 December 29, 2024 December 31, 2023 Depreciation expense $ 32,958 $ 30,932 $ 63,633 $ 56,392

Leases

Leases	6 Months Ended
	Dec. 29, 2024
Leases [Abstract]
Leases	Leases The Company leases various assets under non-cancellable operating and finance leases. These assets include location-based entertainment venues, office space, vehicles, and equipment. Most of our leases contain payments for some or all of the following: base rent, contingent rent, common area maintenance, insurance, real-estate taxes, and other operating expenses. Rental payments are subject to escalation depending on future changes in designated indices or based on pre-determined amounts agreed upon at lease inception. The following table summarizes the components of the net lease cost for each reporting period: Three Months Ended Six Months Ended Lease Costs: Location on Condensed Consolidated Statements of Operations December 29, 2024 December 31, 2023 December 29, 2024 December 31, 2023 Operating Lease Costs: (1) Operating lease costs associated with master leases for locations Primarily Location operating costs $ 4,428 $ 4,428 $ 8,856 $ 8,856 Operating lease costs associated with non-master leases for locations Primarily Location operating costs 15,779 13,619 30,296 24,094 Percentage rental costs for locations (2) Primarily Location operating costs 1,931 2,233 3,057 3,386 Equipment and other operating lease costs (3) Primarily Location operating costs (1,043) 2,373 908 3,864 Total Operating Lease Costs: 21,095 22,653 43,117 40,200 Finance Lease Costs: Amortization of right-of-use assets Depreciation and amortization 4,359 4,379 8,714 8,490 Interest expense Interest expense, net 12,398 12,467 24,787 24,488 Total Finance Lease Costs: 16,757 16,846 33,501 32,978 Financing Obligation Costs: Interest expense Interest expense, net 10,163 8,138 20,278 8,244 Total Financing Obligation Costs: 10,163 8,138 20,278 8,244 Other Costs, Net: Variable occupancy costs (4) Primarily Location operating costs 19,661 14,194 38,357 29,158 Gains from modifications to operating leases Other operating expense, net — — — (499) Other lease costs (5) Primarily Location operating costs 64 1,774 269 3,521 Sublease income (6) Revenues - Amusement & other (1,188) (1,324) (2,400) (2,628) Total Other Costs, Net 18,537 14,644 $ 36,226 $ 29,552 Total Lease Costs, Net $ 66,552 $ 62,281 $ 133,122 $ 110,974 (1) Operating lease costs includes both cash and non-cash expenses for operating leases. The operating lease costs associated with our locations are recognized evenly over the lease term, therefore, the timing of the expense may differ from the timing of actual cash payments. Cash payments and lease costs can differ due to (a) the timing of cash payments relative to the level expense, (b) non-cash adjustments as a result of purchase accounting, and (c) various other non-cash adjustments to lease costs. Please see the table below for cash paid for amounts included within our lease liabilities. (2) Percentage rental costs for our locations primarily represents leases where we pay an extra rental amount based on a percentage of revenue in excess of predetermined revenue thresholds. (3) Equipment and other operating lease costs primarily represents operating leases costs for equipment leases, common area maintenance charges, rent relief from the impacts of COVID-19, and other variable lease costs for operating leases where the lease payments escalate based on an index or rate. (4) Variable occupancy costs primarily represents utilities, property insurance, and real estate taxes. (5) Other lease costs primarily includes short-term lease costs and other variable payments for various equipment leases. (6) Sublease income primarily represents short-term leases with pro-shops and various retail tenants. Cash paid for amounts included in the measurement of lease liabilities for the six months ended December 29, 2024: Six Months Ended December 29, 2024 December 31, 2023 Cash paid for amounts included in the measurement of lease liabilities (1) Operating leases: Operating cash flows paid for operating leases $ 33,059 $ 31,690 Total cash paid for operating lease liabilities 33,059 31,690 Finance leases: Operating cash flows paid for interest portion of finance leases 23,213 22,398 Financing cash flows paid for principal portion of finance leases 3,108 3,165 Total cash paid for finance lease liabilities 26,321 25,563 Financing Obligations: Operating cash flows paid for interest portion of financing obligations 16,135 6,610 Financing cash flows paid for principal portion of finance obligations 9 — Total cash paid for financing obligations: 16,144 6,610 Total cash amounts paid that are included in the measurement of lease liabilities: (2) $ 75,524 $ 63,863 (1) This table includes cash paid for amounts included in the measurement of our lease liabilities. Since the lease liability only includes amounts that are contractually fixed, this table excludes cash paid for amounts that are variable in nature, such as utilities, common area maintenance, property insurance, real estate taxes, and percentage rent. (2) For the period ended December 29, 2024, total cash amounts within the above table include deferred repayments of $2,013 for operating leases and $4,341 for finance leases. For the period ended December 31, 2023, total cash amounts within the above table include deferred repayments of $2,162 for operating leases and $4,663 for finance leases. As of December 29, 2024, there were no deferred payments remaining. Supplemental balance sheet information related to leases as of December 29, 2024: Condensed Consolidated Balance Sheets Location December 29, 2024 June 30, Operating leases: ROU Assets, net Operating lease ROU assets, net $ 591,264 $ 559,168 Lease liabilities, Short-term Operating lease liabilities, ST 31,637 28,460 Lease liabilities, Long-term Operating lease liabilities, LT 603,986 561,916 Finance leases: ROU Assets, net Finance lease ROU assets, net 516,144 524,392 Lease liabilities, Short-term Other current liabilities 1,010 1,954 Lease liabilities, Long-term Finance lease liabilities, LT 680,622 680,213 Financing Obligations: Financing obligation, long-term Long-term financing obligations 445,027 440,875 Lease incentive receivables from landlords of $6,505 and $15,311 as of December 29, 2024 and June 30, 2024, respectively, are reflected as a reduction of the operating and finance lease liability. The Company received $8,389 from landlords for lease incentives on operating leases and $417 for lease incentives on finance leases during the six months ended December 29, 2024. Lease incentives for operating leases are all recorded as operating cash inflows within the change in operating lease liabilities within our condensed consolidated statement of cash flows. The lease incentives received for finance leases are recorded as cash inflows for financing activities.
Leases	Leases The Company leases various assets under non-cancellable operating and finance leases. These assets include location-based entertainment venues, office space, vehicles, and equipment. Most of our leases contain payments for some or all of the following: base rent, contingent rent, common area maintenance, insurance, real-estate taxes, and other operating expenses. Rental payments are subject to escalation depending on future changes in designated indices or based on pre-determined amounts agreed upon at lease inception. The following table summarizes the components of the net lease cost for each reporting period: Three Months Ended Six Months Ended Lease Costs: Location on Condensed Consolidated Statements of Operations December 29, 2024 December 31, 2023 December 29, 2024 December 31, 2023 Operating Lease Costs: (1) Operating lease costs associated with master leases for locations Primarily Location operating costs $ 4,428 $ 4,428 $ 8,856 $ 8,856 Operating lease costs associated with non-master leases for locations Primarily Location operating costs 15,779 13,619 30,296 24,094 Percentage rental costs for locations (2) Primarily Location operating costs 1,931 2,233 3,057 3,386 Equipment and other operating lease costs (3) Primarily Location operating costs (1,043) 2,373 908 3,864 Total Operating Lease Costs: 21,095 22,653 43,117 40,200 Finance Lease Costs: Amortization of right-of-use assets Depreciation and amortization 4,359 4,379 8,714 8,490 Interest expense Interest expense, net 12,398 12,467 24,787 24,488 Total Finance Lease Costs: 16,757 16,846 33,501 32,978 Financing Obligation Costs: Interest expense Interest expense, net 10,163 8,138 20,278 8,244 Total Financing Obligation Costs: 10,163 8,138 20,278 8,244 Other Costs, Net: Variable occupancy costs (4) Primarily Location operating costs 19,661 14,194 38,357 29,158 Gains from modifications to operating leases Other operating expense, net — — — (499) Other lease costs (5) Primarily Location operating costs 64 1,774 269 3,521 Sublease income (6) Revenues - Amusement & other (1,188) (1,324) (2,400) (2,628) Total Other Costs, Net 18,537 14,644 $ 36,226 $ 29,552 Total Lease Costs, Net $ 66,552 $ 62,281 $ 133,122 $ 110,974 (1) Operating lease costs includes both cash and non-cash expenses for operating leases. The operating lease costs associated with our locations are recognized evenly over the lease term, therefore, the timing of the expense may differ from the timing of actual cash payments. Cash payments and lease costs can differ due to (a) the timing of cash payments relative to the level expense, (b) non-cash adjustments as a result of purchase accounting, and (c) various other non-cash adjustments to lease costs. Please see the table below for cash paid for amounts included within our lease liabilities. (2) Percentage rental costs for our locations primarily represents leases where we pay an extra rental amount based on a percentage of revenue in excess of predetermined revenue thresholds. (3) Equipment and other operating lease costs primarily represents operating leases costs for equipment leases, common area maintenance charges, rent relief from the impacts of COVID-19, and other variable lease costs for operating leases where the lease payments escalate based on an index or rate. (4) Variable occupancy costs primarily represents utilities, property insurance, and real estate taxes. (5) Other lease costs primarily includes short-term lease costs and other variable payments for various equipment leases. (6) Sublease income primarily represents short-term leases with pro-shops and various retail tenants. Cash paid for amounts included in the measurement of lease liabilities for the six months ended December 29, 2024: Six Months Ended December 29, 2024 December 31, 2023 Cash paid for amounts included in the measurement of lease liabilities (1) Operating leases: Operating cash flows paid for operating leases $ 33,059 $ 31,690 Total cash paid for operating lease liabilities 33,059 31,690 Finance leases: Operating cash flows paid for interest portion of finance leases 23,213 22,398 Financing cash flows paid for principal portion of finance leases 3,108 3,165 Total cash paid for finance lease liabilities 26,321 25,563 Financing Obligations: Operating cash flows paid for interest portion of financing obligations 16,135 6,610 Financing cash flows paid for principal portion of finance obligations 9 — Total cash paid for financing obligations: 16,144 6,610 Total cash amounts paid that are included in the measurement of lease liabilities: (2) $ 75,524 $ 63,863 (1) This table includes cash paid for amounts included in the measurement of our lease liabilities. Since the lease liability only includes amounts that are contractually fixed, this table excludes cash paid for amounts that are variable in nature, such as utilities, common area maintenance, property insurance, real estate taxes, and percentage rent. (2) For the period ended December 29, 2024, total cash amounts within the above table include deferred repayments of $2,013 for operating leases and $4,341 for finance leases. For the period ended December 31, 2023, total cash amounts within the above table include deferred repayments of $2,162 for operating leases and $4,663 for finance leases. As of December 29, 2024, there were no deferred payments remaining. Supplemental balance sheet information related to leases as of December 29, 2024: Condensed Consolidated Balance Sheets Location December 29, 2024 June 30, Operating leases: ROU Assets, net Operating lease ROU assets, net $ 591,264 $ 559,168 Lease liabilities, Short-term Operating lease liabilities, ST 31,637 28,460 Lease liabilities, Long-term Operating lease liabilities, LT 603,986 561,916 Finance leases: ROU Assets, net Finance lease ROU assets, net 516,144 524,392 Lease liabilities, Short-term Other current liabilities 1,010 1,954 Lease liabilities, Long-term Finance lease liabilities, LT 680,622 680,213 Financing Obligations: Financing obligation, long-term Long-term financing obligations 445,027 440,875 Lease incentive receivables from landlords of $6,505 and $15,311 as of December 29, 2024 and June 30, 2024, respectively, are reflected as a reduction of the operating and finance lease liability. The Company received $8,389 from landlords for lease incentives on operating leases and $417 for lease incentives on finance leases during the six months ended December 29, 2024. Lease incentives for operating leases are all recorded as operating cash inflows within the change in operating lease liabilities within our condensed consolidated statement of cash flows. The lease incentives received for finance leases are recorded as cash inflows for financing activities.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Dec. 29, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accounts Payable and Accrued Expenses As of December 29, 2024 and June 30, 2024, accounts payable and accrued expenses consist of: December 29, June 30, Accounts payable $ 31,675 $ 50,457 Customer Deposits 25,443 14,006 Taxes and licenses 17,022 17,840 Compensation 12,850 13,768 Deferred revenue 12,697 15,976 Insurance 10,115 7,401 Interest 8,672 1,113 Utilities 4,121 5,475 Professional fees 3,096 4,090 Other 15,672 5,658 Total accounts payable and accrued expenses $ 141,363 $ 135,784

Debt

Debt	6 Months Ended
	Dec. 29, 2024
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the Company’s debt structure as of December 29, 2024 and June 30, 2024: December 29, 2024 June 30, First Lien Credit Facility Term Loan (Maturing February 8, 2028 and bearing variable rate interest; 8.07% and 8.80% at December 29, 2024 and June 30, 2024, respectively) $ 1,285,625 $ 1,138,500 Other Equipment Loans 13,195 13,700 1,298,820 1,152,200 Less: Unamortized financing costs (12,785) (13,514) Current portion of unamortized financing costs 3,797 3,361 Current maturities of long-term debt (14,075) (12,524) Total long-term debt $ 1,275,757 $ 1,129,523 Term Loan: Under the Company’s First Lien Credit Agreement, as amended (the “First Lien Credit Agreement”), the Company has made term loans consisting of $1,150,000 of aggregate initial principal amount of debt outstanding (the “Term Loan”). The Term Loan matures on February 8, 2028 and is repaid on a quarterly basis in principal payments of $2,875, which began on September 29, 2023. The Term Loan bears interest at a rate per annum equal to the Adjusted Term SOFR plus 3.50%. Interest is due on the last day of the interest period. The interest period, as agreed upon between the Company and its lender, can be either one three On December 17, 2024, the Company entered into a Twelfth Amendment (the “Twelfth Amendment”) to the First Lien Credit Agreement. The Twelfth Amendment provided for an incremental term loan in the amount of $150,000. In addition, the Twelfth Amendment increased the quarterly principal payments beginning on December 31, 2024 from $2,875 to $3,255. Proceeds from the Twelfth Amendment were used to repay all amounts outstanding on the Revolver and for general corporate purposes. The Company accounted for this transaction as a debt modification, which was not substantial. Therefore, the Company did not incur any gain or loss relating to the modification. Revolver: Under the First Lien Credit Agreement, the Company has access to a senior secured revolving credit facility (the “Revolver”). As of December 29, 2024, the Revolver commitment is $335,000, which was increased by $50,000 in connection with the Company entering into an Eleventh Amendment to the First Lien Credit Agreement on August 23, 2024. Any outstanding balance on the Revolver is due on December 15, 2026. Interest on borrowings under the Revolver is based on the Adjusted Term SOFR. First Lien Credit Agreement Covenants: Obligations owed under the First Lien Credit Agreement are secured by a first priority security interest on substantially all assets of Lucky Strike. and the guarantor subsidiaries. The First Lien Credit Agreement contains customary events of default, restrictions on indebtedness, liens, investments, asset dispositions, dividends and affirmative and negative covenants. The Company is subject to a financial covenant requiring that the First Lien Leverage Ratio (as defined in the First Lien Credit Agreement) not exceed 6.00:1.00 as of the end of any fiscal quarter if amounts outstanding on the Revolver exceed an amount equal to 35% of the aggregate Revolver commitment (subject to certain exclusions) at the end of such fiscal quarter. In addition, payment of borrowings under the Revolver may be accelerated if there is an event of default, and Lucky Strike would no longer be permitted to borrow additional funds under the Revolver while a default or event of default were outstanding. Letters of Credit: Outstanding standby letters of credit as of December 29, 2024 and June 30, 2024 totaled $18,584 and $15,834, respectively, and are guaranteed by JP Morgan Chase Bank, N.A. The available amount of the Revolver is reduced by the outstanding standby letters of credit. Other Equipment Loan: On August 19, 2022, the Company entered into an equipment loan agreement for a principal amount of $15,350 with JP Morgan Chase Bank, N.A.. The loan matures August 19, 2029 and bears a fixed interest rate of 6.24%. The loan is repaid on a monthly basis in fixed payments of $153 plus a final payment at maturity. The loan obligation is secured by a lien on the equipment. Covenant Compliance: The Company was in compliance with all debt covenants as of December 29, 2024. Interest rate collars: The Company entered into two interest rate collars effective as of March 31, 2023 for an aggregate notional amount of our Term Loan of $800,000. The collar hedging strategy stabilizes interest rate fluctuations by setting both a floor and a cap. The hedge transactions have a trade and hedge designation date of April 4, 2023. The hedge transactions, each for a notional amount of $400,000, provide for interest rate collars. The interest rate collars establish a floor on SOFR of 0.9429% and 0.9355%, respectively, and a cap on SOFR of 5.50%. The interest rate collars have a maturity date of March 31, 2026. The fair value of the collar agreements as of December 29, 2024 and June 30, 2024 was an asset of $151 and $696, respectively, and is included within the condensed consolidated balance sheets. Since SOFR was within the collar cap and floor rates, there was no interest impact on the condensed consolidated statement of operations.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company uses the estimated annual effective tax rate method for calculating its tax provision in interim periods, which represents the Company's best estimate of the effective tax rate expected for the full year. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated (discrete items), are excluded from the estimated annual effective tax rate, and the related tax expense or benefit is reported in the same period as the related item. The Company’s effective tax rate for the six months ended December 29, 2024 was (70)%, which differs from the US federal statutory rate of 21% primarily due to the change in fair value of the earnout liability, permanent differences, and other discrete tax items. The Company’s effective tax rate for the six months ended December 31, 2023 was 14% tax benefit and differs from the US federal statutory rate of 21% due to income recognized in the period for book purposes associated with the change in fair value of the earnout liability which is treated as a discrete tax item and not included as taxable income.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, we are involved in various inquiries, investigations, claims, lawsuits and other legal proceedings that are incidental to the conduct of our business. These matters typically involve claims from customers, employees or other third parties involved in operational issues common to the retail, restaurant and entertainment industries. Such matters typically represent actions with respect to contracts, intellectual property, taxation, employment, employee benefits, personal injuries and other matters. A number of such claims may exist at any given time and there are currently a number of claims and legal proceedings pending against us. While it is not feasible to predict the outcome of all claims and legal proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Earnouts

Earnouts	6 Months Ended
	Dec. 29, 2024
Earnouts [Abstract]
Earnouts	Earnouts There were 11,418,357 unvested earnout shares outstanding as of December 29, 2024 and June 30, 2024. The outstanding unvested earnout shares will vest if the closing share price of Lucky Strike’s Class A common stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20 trading day period that occurs from December 15, 2021 through December 15, 2026. All but 41,364 earnout shares are classified as a liability and changes in the fair value of the earnout shares are recognized in the statement of operations. Those earnout shares not classified as a liability are classified as equity compensation to employees and recognized as compensation expense on a straight-line basis over the expected term or upon the contingency being met. See Note 11 - Fair Value of Financial Instruments for a summary of changes in the estimated fair value of the earnout shares for the period ended December 29, 2024 and December 31, 2023.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Dec. 29, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Debt The fair value and carrying value of our debt as of December 29, 2024 and June 30, 2024 are as follows: December 29, 2024 June 30, Carrying value $ 1,298,820 $ 1,152,200 Fair value 1,303,641 1,152,200 The fair value of our debt is estimated based on trading levels of lenders buying and selling their participation levels of funding (Level 2). There were no transfers in or out of any of the levels of the valuation hierarchy during the six months ended December 29, 2024 and the fiscal year ended June 30, 2024. Items Measured at Fair Value on a Recurring Basis The Company holds certain assets and liabilities that are required to be measured at fair value on a recurring basis. The following table is a summary of fair value measurements and hierarchy level as of December 29, 2024 and June 30, 2024: December 29, 2024 Level 1 Level 2 Level 3 Total Interest rate collars $ — $ 151 $ — $ 151 Total assets $ — $ 151 $ — $ 151 Earnout shares $ — $ — $ 69,058 $ 69,058 Total liabilities $ — $ — $ 69,058 $ 69,058 June 30, 2024 Level 1 Level 2 Level 3 Total Interest rate collars $ — $ 696 $ — $ 696 Total assets $ — $ 696 $ — $ 696 Earnout shares $ — $ — $ 137,636 $ 137,636 Total liabilities $ — $ — $ 137,636 $ 137,636 The fair value of earnout shares was estimated using a Monte Carlo simulation model (level 3 inputs). The key inputs into the Monte Carlo simulation as of December 29, 2024 were as follows: Earnout Expected term in years 1.96 Expected volatility 50% Risk-free interest rate 4.31% Stock price $ 10.78 Dividend yield 2.04% The following table sets forth a summary of changes in the estimated fair value of the Company's Level 3 Earnout liability for the three and six months ended December 29, 2024 and December 31, 2023: Three Months Ended Six Months Ended December 29, 2024 December 31, 2023 December 29, 2024 December 31, 2023 Balance as of beginning of period $ 88,741 $ 71,364 $ 137,635 $ 112,041 Issuances — 24 26 29 Changes in fair value * (19,683) 64,091 (68,603) 23,409 Balance as of end of period $ 69,058 $ 135,479 $ 69,058 $ 135,479 *Amount has been adjusted due to rounding. Other Financial Instruments Other financial instruments include cash and cash equivalents, accounts and notes receivable, accounts payable and accrued expenses. The financial statement carrying amounts of these items approximate the fair value due to their short duration.

Common Stock, Preferred Stock a

Common Stock, Preferred Stock and Stockholders' Equity	6 Months Ended
	Dec. 29, 2024
Stockholders' Equity Note [Abstract]
Common Stock, Preferred Stock and Stockholders' Equity	Common Stock, Preferred Stock and Stockholders’ Equity The Company is authorized to issue three classes of stock to be designated, respectively, Class A common stock, Class B common stock (together with Class A common stock, the “Common Stock”) and Series A preferred stock (the “Preferred Stock”). The total number of shares of capital stock which the Company shall have authority to issue is 2,400,000,000, divided into the following: Class A common stock: • Authorized: 2,000,000,000 shares, with a par value of $0.0001 per share as of December 29, 2024 and June 30, 2024. • Issued and Outstanding: 85,431,233 shares (inclusive of 1,582,805 shares contingent on certain stock price thresholds but excluding 38,108,465 shares held in treasury) as of December 29, 2024 and 88,854,487 shares (inclusive of 1,584,805 shares contingent on certain stock price thresholds but excluding 34,071,295 shares held in treasury) as of June 30, 2024. Class B common stock: • Authorized: 200,000,000 shares, with a par value of $0.0001 per share as of December 29, 2024 and June 30, 2024. • Issued and Outstanding: 58,519,437 shares as of December 29, 2024 and June 30, 2024. Preferred Stock: • Authorized: 200,000,000 shares, with a par value of $0.0001 per share as of December 29, 2024 and June 30, 2024. • Issued and Outstanding: 117,087 and 120,387 shares as of December 29, 2024 and June 30, 2024, respectively. Series A Preferred Stock Dividends accumulate on a cumulative basis on a 360-day year commencing from the issue date. The dividend rate is fixed at 5.5% per annum on a liquidation preference of $1,000 per share. Payment dates are June 30 and December 31 of each year with a record date of June 15 for the June 30 payment date and December 15 for the December 31 payment date. Declared dividends will be paid in cash if the Company declares the dividend to be paid in cash. If the Company does not pay all or any portion of the dividends that have accumulated as of any payment date, then the dollar amount of the dividends not paid in cash will be added to the liquidation preference and deemed to be declared and paid in-kind. For the six months ended December 29, 2024, no accumulated dividends were added to the liquidation preference and deemed to be declared and paid in-kind. For the six months ended December 29, 2024, dividends in the amount o f $3,389 were accumulated on the Preferred Stock. During the six months ended December 29, 2024, 3,300 shares of Series A Preferred Stock were converted into 269,886 shares of Class A Common Stock. All of the shares of converted Series A Preferred Stock were then cancelled in accordance with the Preferred Stock Certificate of Designations. Stock Dividend Common stock dividends paid during the six months ended December 29, 2024 is as follows: Declaration Date Record Date Payment Date Amount (1) August 5, 2024 August 23, 2024 September 6, 2024 $ 8,552 November 4, 2024 November 22, 2024 December 6, 2024 8,411 $ 16,963 (1) Amounts include dividends paid to holders of Series A preferred stock on an as-converted basis. The amounts do not reflect amounts paid for accrued dividends on previously unvested share-based awards or amounts accrued for currently unvested share-based awards. On February 5, 2025, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.055 per share of common stock, which will be paid on March 7, 2025, to stockholders of record on February 21, 2025. Share Repurchase Program On February 7, 2022, the Company announced that its Board of Directors authorized a share repurchase program providing for repurchases of up to $200,000 of the Company’s outstanding Class A common stock through February 3, 2024. On each of May 15, 2023, September 6, 2023 and February 2, 2024, the Board of Directors authorized a replenishment of then-remaining balance of the share repurchase program to $200,000, which in aggregate increased the total amount that has been authorized under the share repurchase program to approximately $551,518. On February 2, 2024, the Board of Directors extended the share repurchase program indefinitely. Treasury stock purchases are stated at cost and presented as a reduction of equity on the condensed consolidated balance sheets. Repurchases of shares are made in accordance with applicable securities laws and may be made from time to time in the open market or by negotiated transactions. The amount and timing of repurchases are based on a variety of factors, including stock price, regulatory limitations, debt agreement limitations, and other market and economic factors. The share repurchase program does not require the Company to repurchase any specific number of shares, and the Company may terminate the repurchase program at any time.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Dec. 29, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company has two stock plans: the Lucky Strike Entertainment Corporation 2021 Omnibus Incentive Plan (“2021 Plan”) and the Lucky Strike Entertainment Corporation Employee Stock Purchase Plan (“ESPP”). These stock incentive plans are designed to attract and retain key personnel by providing them the opportunity to acquire an equity interest in the Company and align the interest of key personnel with those of the Company’s stockholders. As of December 29, 2024 and June 30, 2024, the total compensation cost not yet recognized is as follows: Award Plan December 29, 2024 June 30, Stock options 2021 Plan $ 16,360 $ 19,416 Service based RSUs 2021 Plan 7,087 5,395 Market and service based RSUs 2021 Plan 7,485 502 Earnout RSUs 2021 Plan 127 168 ESPP ESPP — 319 Total unrecognized compensation cost $ 31,059 $ 25,800 Share-based compensation recognized in the condensed consolidated statements of operations for the periods ended December 29, 2024 and December 31, 2023 is as follows: Three Months Ended Six Months Ended Award Plan December 29, December 31, December 29, December 31, Stock options 2021 Plan $ 2,762 $ 2,495 $ 5,526 $ 3,164 Service based RSUs 2021 Plan 1,299 949 2,376 1,863 Market and service based RSUs 2021 Plan 524 141 644 311 Earnout RSUs 2021 Plan 16 15 24 35 Other stock-based awards 2021 Plan — — 440 — ESPP ESPP 63 89 157 227 Total share-based compensation expense $ 4,664 $ 3,689 $ 9,167 $ 5,600 The Company did not have any recognized income tax benefits, net of valuation allowances, related to our share-based compensation plans.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Dec. 29, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The computation of basic and diluted net income (loss) per share of Class A common stock and Class B common stock is as follows: Three Months Ended - Basic December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to common stockholders $ 14,496 $ 9,931 $ 24,427 $ (39,872) $ (25,560) $ (65,432) Denominator Weighted-average shares outstanding 85,420,441 58,519,437 143,939,878 91,286,094 58,519,437 149,805,531 Net income (loss) per share, basic $ 0.17 $ 0.17 $ 0.17 $ (0.44) $ (0.44) $ (0.44) Three Months Ended - Diluted December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to stockholders 14,496 9,931 24,427 (39,872) (25,560) (65,432) Denominator Weighted-average shares outstanding 85,420,441 58,519,437 143,939,878 91,286,094 58,519,437 149,805,531 Impact of incremental shares 3,063,361 5,953,984 9,017,345 * * * Total 88,483,802 64,473,421 152,957,223 91,286,094 58,519,437 149,805,531 Net income (loss) per share, diluted $ 0.16 $ 0.15 $ 0.16 $ (0.44) $ (0.44) $ (0.44) Anti-dilutive shares excluded from diluted calculation* 18,837,614 *The impact of potentially dilutive convertible Preferred Stock, service based RSUs, market and service based RSUs, stock options, and purchases of shares under our ESPP were excluded from the diluted per share calculations because they would have been antidilutive. Six Months Ended - Basic December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to common stockholders $ 26,235 $ 17,783 $ 44,018 $ (30,298) $ (18,877) $ (49,175) Denominator Weighted-average shares outstanding 86,333,891 58,519,437 144,853,328 95,723,299 59,644,162 155,367,461 Net income (loss) per share, basic $ 0.30 $ 0.30 $ 0.30 $ (0.32) $ (0.32) $ (0.32) Six Months Ended - Diluted December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to stockholders 26,235 17,783 44,018 (30,298) (18,877) (49,175) Denominator Weighted-average shares outstanding 86,333,891 58,519,437 144,853,328 95,723,299 59,644,162 155,367,461 Impact of incremental shares 3,145,383 6,229,932 9,375,315 * * * Total 89,479,274 64,749,369 154,228,643 95,723,299 59,644,162 155,367,461 Net income (loss) per share, diluted $ 0.29 $ 0.27 $ 0.29 $ (0.32) $ (0.32) $ (0.32) Anti-dilutive shares excluded from diluted calculation* 18,772,390 *The impact of potentially dilutive convertible Preferred Stock, service based RSUs, market and service based RSUs, stock options, and purchases of shares under our ESPP were excluded from the diluted per share calculations because they would have been antidilutive. The impact from incremental shares for our diluted per share calculation is as follows: Three Months Ended December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Service based RSUs 802,501 — 802,501 465,128 — 465,128 Market and service based RSUs 510,861 — 510,861 219,225 — 219,225 Stock options 1,601,964 5,953,984 7,555,948 1,456,756 5,441,659 6,898,415 ESPP 148,035 — 148,035 — — — Series A Preferred Stock — — — 11,254,846 — 11,254,846 Total 3,063,361 5,953,984 9,017,345 13,395,955 5,441,659 18,837,614 Six Months Ended December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Service based RSUs 802,501 — 802,501 465,128 — 465,128 Market and service based RSUs 510,861 — 510,861 219,225 — 219,225 Stock options 1,683,986 6,229,932 7,913,918 1,458,739 5,449,066 6,907,805 ESPP 148,035 — 148,035 — — — Series A Preferred Stock — — — 11,180,232 — 11,180,232 Total 3,145,383 6,229,932 9,375,315 13,323,324 5,449,066 18,772,390

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Dec. 29, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information December 29, December 31, Cash paid during the period for: Interest (1) $ 83,344 $ 81,940 Income taxes, net of refunds 1,814 2,424 Noncash investing and financing transactions: Capital expenditures in accounts payable 14,977 19,885 Change in fair value of interest rate swap, net of tax (397) (3,450) Excise tax 415 2,073 (1) Includes cash paid for the interest portion on finance leases and financing obligations. See Note 5 - Leases for supplementary information relating to leasing transactions.

Description of Business and S_2

Description of Business and Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 29, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Our quarterly financial data should be read in conjunction with the audited financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024. Change in Presentation:
Principles of Consolidation	Principles of Consolidation: The condensed consolidated financial statements and related notes include the accounts of Lucky Strike and the subsidiaries it controls. Control is determined based on ownership rights or, when applicable, based on whether the Company is considered to be the primary beneficiary of a variable interest entity. We use the equity method to account for investments in which we have the ability to exercise significant influence over the investee’s operating and financial policies, or in which we hold a partnership or limited liability company interest in an entity with specific ownership accounts, unless we have virtually no influence over the investee’s operating and financial policies. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates: The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the balance sheets, statements of operations and accompanying notes. Significant estimates made by management include, but are not limited to, cash flow projections; the fair value of assets and liabilities in acquisitions; derivatives with hedge accounting; share-based compensation; depreciation and impairment of long-lived assets; carrying amount and recoverability analyses of property and equipment, assets held for sale, goodwill and other intangible assets; valuation of deferred tax assets and liabilities and income tax uncertainties; and reserves for litigation, claims and self-insurance costs. Actual results could differ from those estimates.
Fair-value Estimates	Fair-value Estimates: We have various financial instruments included in our financial statements. Financial instruments are carried in our financial statements at either cost or fair value. We estimate fair value of assets and liabilities using the following hierarchy using the highest level possible: Level 1: Quoted prices in active markets that are accessible at the measurement date for identical assets and liabilities. Level 2: Observable prices that are based on inputs not quoted on active markets, but are corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available.
Cash and Cash Equivalents	Cash and Cash Equivalents:
Equity Method Investments	Equity Method Investments:
Derivatives	Derivatives: We are exposed to interest rate risk. To manage this risk, we entered into interest rate collar derivative transactions associated with a portion of our outstanding debt. The interest rate collars, which are designated for accounting purposes as cash flow hedges, establish a cap and floor on the Secured Overnight Financing Rate (SOFR). The Company's interest rate collars expire on March 31, 2026. For financial derivative instruments that are designated as a cash flow hedge for accounting purposes, the effective portion of the gain or loss on the financial derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the forecasted transaction, and in the same period or periods during which the forecasted transaction affects earnings. Gains and losses on the financial derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. The interest rate collar agreements effectively modified our exposure to interest rate risk by converting a portion of our interest payments on floating rate debt to include a cap and floor, thus reducing the impact of interest rate changes on future interest expense. See Note 7 - Debt for more information.
Net Income (loss) Per Share Attributable to Common Stockholders	Net Income (loss) Per Share Attributable to Common Stockholders:
Emerging Growth Company Status	Emerging Growth Company Status: The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as modified by the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of our financial statements with those of another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult because of the potential differences in accounting standards used.
Recent Issued Accounting Standards	Recently Issued Accounting Standards: In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (“Topic 280”) Improvements to Reportable Segment Disclosures , which requires p ublic entities, including those with a single reportable segment, to provide all the disclosures required by this standard and all existing segment disclosures required by Topic 280 on an interim and annual basis, including new requirements to disclose significant segment expenses that are regularly provided to the the chief operating decision maker (“CODM”), which is our chief executive officer (“CEO”) and included within the reported measure(s) of a segment's profit or loss, the amount and composition of any other segment items, the title and position of the CODM, and how the CODM uses the reported measure(s) of a segment's profit or loss to assess performance and decide how to allocate resources. Further, it requires that all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 be provided in interim periods. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024, applied retrospectively. We are currently evaluating the impact of this standard to our consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (“Topic 740”): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures through the standardization and disaggregation of rate reconciliation categories and income taxes paid in both domestic and foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be applied prospectively, with early adoption and retrospective application permitted. We are currently evaluating the impact of this standard to our consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires the disaggregation of certain expenses in the notes of the financials, to provide enhanced transparency into the expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027 and may be applied either prospectively or retrospectively. We are currently evaluating the impact of this standard to our consolidated financial statements.

Business Acquisitions (Tables)

Business Acquisitions (Tables)	6 Months Ended
	Dec. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of fair value of the assets acquired and the liabilities assumed and components of consideration transferred	The following table summarizes the preliminary purchase price allocations for the fair values of the identifiable assets acquired and liabilities assumed, components of consideration transferred and the transactional related expenses during the six months ended December 29, 2024 using the acquisition method of accounting: Identifiable assets acquired and liabilities assumed Total Current assets $ 3,688 Assets held for sale (1) 16,318 Property and equipment 35,117 Operating lease ROU 44,748 Identifiable intangible assets 3,022 Goodwill 7,308 Deferred income tax asset 1,458 Other assets 633 Total assets acquired $ 112,292 Current liabilities $ (7,787) Liabilities held for sale (1) (15,698) Operating lease liabilities (44,860) Other liabilities (1,083) Total liabilities assumed (69,428) Total fair value, net of cash of $417 $ 42,864 Components of consideration transferred Cash $ 42,864 Total $ 42,864 (1) Certain acquired assets and assumed liabilities were designated as held for sale as of the acquisition date and sold during the six months ended December 29, 2024.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the period ended December 29, 2024: Balance as of June 30, 2024 $ 833,888 Goodwill resulting from acquisitions during fiscal year 2025 7,308 Adjustments to preliminary fair values for prior year acquisitions 73 Balance as of December 29, 2024 $ 841,269
Schedule of intangible assets	December 29, 2024 June 30, 2024 Gross Accumulated Net Gross Accumulated Net Finite-lived intangible assets: AMF trade name $ — $ — $ — $ 9,900 $ (9,900) $ — Bowlero trade name 14,870 (2,990) 11,880 14,870 (614) 14,256 Other acquisition trade names 2,250 (1,146) 1,104 3,460 (2,276) 1,184 Customer relationships 4,055 (2,967) 1,088 24,185 (22,808) 1,377 Management contracts 300 (279) 21 1,800 (1,763) 37 Non-compete agreements 3,464 (1,737) 1,727 4,364 (2,395) 1,969 PBA member, sponsor & media relationships 1,200 (595) 605 1,400 (739) 661 Other intangible assets 754 (448) 306 921 (542) 379 26,893 (10,162) 16,731 60,900 (41,037) 19,863 Indefinite-lived intangible assets: Liquor licenses 12,830 — 12,830 12,418 — 12,418 Lucky Strike trade name 8,360 — 8,360 8,360 — 8,360 Other trade names 8,410 — 8,410 6,410 — 6,410 29,600 — 29,600 27,188 — 27,188 $ 56,493 $ (10,162) $ 46,331 $ 88,088 $ (41,037) $ 47,051
Schedule of finite-lived intangible asset amortization	The following table shows amortization expense for finite-lived intangible assets for each reporting period: Three Months Ended Six Months Ended December 29, 2024 December 31, December 29, December 31, Amortization expense $ 1,801 $ 1,760 $ 3,754 $ 3,541

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Dec. 29, 2024
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	As of December 29, 2024 and June 30, 2024, property and equipment consists of: December 29, 2024 June 30, 2024 Land (1) $ 118,378 $ 108,442 Building and leasehold improvements 729,465 663,537 Equipment, software, furniture, and fixtures 670,755 630,280 Construction in progress 29,730 55,343 1,548,328 1,457,602 Accumulated depreciation (612,474) (569,864) Property and equipment, net of accumulated depreciation $ 935,854 $ 887,738 (1) Includes the 66 acres of land adjacent to Raging Waves water park that was purchased on December 16, 2024 for $9,400.
Schedule of depreciation expenses related to property and equipment	The following table shows depreciation expense related to property and equipment for each reporting period: Three Months Ended Six Months Ended December 29, 2024 December 31, 2023 December 29, 2024 December 31, 2023 Depreciation expense $ 32,958 $ 30,932 $ 63,633 $ 56,392

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 29, 2024
Leases [Abstract]
Schedule of summarize the company’s costs for operating and capital leases	The following table summarizes the components of the net lease cost for each reporting period: Three Months Ended Six Months Ended Lease Costs: Location on Condensed Consolidated Statements of Operations December 29, 2024 December 31, 2023 December 29, 2024 December 31, 2023 Operating Lease Costs: (1) Operating lease costs associated with master leases for locations Primarily Location operating costs $ 4,428 $ 4,428 $ 8,856 $ 8,856 Operating lease costs associated with non-master leases for locations Primarily Location operating costs 15,779 13,619 30,296 24,094 Percentage rental costs for locations (2) Primarily Location operating costs 1,931 2,233 3,057 3,386 Equipment and other operating lease costs (3) Primarily Location operating costs (1,043) 2,373 908 3,864 Total Operating Lease Costs: 21,095 22,653 43,117 40,200 Finance Lease Costs: Amortization of right-of-use assets Depreciation and amortization 4,359 4,379 8,714 8,490 Interest expense Interest expense, net 12,398 12,467 24,787 24,488 Total Finance Lease Costs: 16,757 16,846 33,501 32,978 Financing Obligation Costs: Interest expense Interest expense, net 10,163 8,138 20,278 8,244 Total Financing Obligation Costs: 10,163 8,138 20,278 8,244 Other Costs, Net: Variable occupancy costs (4) Primarily Location operating costs 19,661 14,194 38,357 29,158 Gains from modifications to operating leases Other operating expense, net — — — (499) Other lease costs (5) Primarily Location operating costs 64 1,774 269 3,521 Sublease income (6) Revenues - Amusement & other (1,188) (1,324) (2,400) (2,628) Total Other Costs, Net 18,537 14,644 $ 36,226 $ 29,552 Total Lease Costs, Net $ 66,552 $ 62,281 $ 133,122 $ 110,974 (1) Operating lease costs includes both cash and non-cash expenses for operating leases. The operating lease costs associated with our locations are recognized evenly over the lease term, therefore, the timing of the expense may differ from the timing of actual cash payments. Cash payments and lease costs can differ due to (a) the timing of cash payments relative to the level expense, (b) non-cash adjustments as a result of purchase accounting, and (c) various other non-cash adjustments to lease costs. Please see the table below for cash paid for amounts included within our lease liabilities. (2) Percentage rental costs for our locations primarily represents leases where we pay an extra rental amount based on a percentage of revenue in excess of predetermined revenue thresholds. (3) Equipment and other operating lease costs primarily represents operating leases costs for equipment leases, common area maintenance charges, rent relief from the impacts of COVID-19, and other variable lease costs for operating leases where the lease payments escalate based on an index or rate. (4) Variable occupancy costs primarily represents utilities, property insurance, and real estate taxes. (5) Other lease costs primarily includes short-term lease costs and other variable payments for various equipment leases. (6) Sublease income primarily represents short-term leases with pro-shops and various retail tenants. Cash paid for amounts included in the measurement of lease liabilities for the six months ended December 29, 2024: Six Months Ended December 29, 2024 December 31, 2023 Cash paid for amounts included in the measurement of lease liabilities (1) Operating leases: Operating cash flows paid for operating leases $ 33,059 $ 31,690 Total cash paid for operating lease liabilities 33,059 31,690 Finance leases: Operating cash flows paid for interest portion of finance leases 23,213 22,398 Financing cash flows paid for principal portion of finance leases 3,108 3,165 Total cash paid for finance lease liabilities 26,321 25,563 Financing Obligations: Operating cash flows paid for interest portion of financing obligations 16,135 6,610 Financing cash flows paid for principal portion of finance obligations 9 — Total cash paid for financing obligations: 16,144 6,610 Total cash amounts paid that are included in the measurement of lease liabilities: (2) $ 75,524 $ 63,863 (1) This table includes cash paid for amounts included in the measurement of our lease liabilities. Since the lease liability only includes amounts that are contractually fixed, this table excludes cash paid for amounts that are variable in nature, such as utilities, common area maintenance, property insurance, real estate taxes, and percentage rent. (2)
Supplemental balance sheet information	Supplemental balance sheet information related to leases as of December 29, 2024: Condensed Consolidated Balance Sheets Location December 29, 2024 June 30, Operating leases: ROU Assets, net Operating lease ROU assets, net $ 591,264 $ 559,168 Lease liabilities, Short-term Operating lease liabilities, ST 31,637 28,460 Lease liabilities, Long-term Operating lease liabilities, LT 603,986 561,916 Finance leases: ROU Assets, net Finance lease ROU assets, net 516,144 524,392 Lease liabilities, Short-term Other current liabilities 1,010 1,954 Lease liabilities, Long-term Finance lease liabilities, LT 680,622 680,213 Financing Obligations: Financing obligation, long-term Long-term financing obligations 445,027 440,875

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Dec. 29, 2024
Payables and Accruals [Abstract]
Schedule of accrued expenses	As of December 29, 2024 and June 30, 2024, accounts payable and accrued expenses consist of: December 29, June 30, Accounts payable $ 31,675 $ 50,457 Customer Deposits 25,443 14,006 Taxes and licenses 17,022 17,840 Compensation 12,850 13,768 Deferred revenue 12,697 15,976 Insurance 10,115 7,401 Interest 8,672 1,113 Utilities 4,121 5,475 Professional fees 3,096 4,090 Other 15,672 5,658 Total accounts payable and accrued expenses $ 141,363 $ 135,784

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 29, 2024
Debt Disclosure [Abstract]
Schedule of debt structure	The following table summarizes the Company’s debt structure as of December 29, 2024 and June 30, 2024: December 29, 2024 June 30, First Lien Credit Facility Term Loan (Maturing February 8, 2028 and bearing variable rate interest; 8.07% and 8.80% at December 29, 2024 and June 30, 2024, respectively) $ 1,285,625 $ 1,138,500 Other Equipment Loans 13,195 13,700 1,298,820 1,152,200 Less: Unamortized financing costs (12,785) (13,514) Current portion of unamortized financing costs 3,797 3,361 Current maturities of long-term debt (14,075) (12,524) Total long-term debt $ 1,275,757 $ 1,129,523

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 29, 2024
Fair Value Disclosures [Abstract]
Schedule of fair value and carrying value of debt	The fair value and carrying value of our debt as of December 29, 2024 and June 30, 2024 are as follows: December 29, 2024 June 30, Carrying value $ 1,298,820 $ 1,152,200 Fair value 1,303,641 1,152,200
Schedule of fair value measurements and hierarchy level	The Company holds certain assets and liabilities that are required to be measured at fair value on a recurring basis. The following table is a summary of fair value measurements and hierarchy level as of December 29, 2024 and June 30, 2024: December 29, 2024 Level 1 Level 2 Level 3 Total Interest rate collars $ — $ 151 $ — $ 151 Total assets $ — $ 151 $ — $ 151 Earnout shares $ — $ — $ 69,058 $ 69,058 Total liabilities $ — $ — $ 69,058 $ 69,058 June 30, 2024 Level 1 Level 2 Level 3 Total Interest rate collars $ — $ 696 $ — $ 696 Total assets $ — $ 696 $ — $ 696 Earnout shares $ — $ — $ 137,636 $ 137,636 Total liabilities $ — $ — $ 137,636 $ 137,636
Schedule of fair value of the warrant liability classified as level 1 and level 3	The fair value of earnout shares was estimated using a Monte Carlo simulation model (level 3 inputs). The key inputs into the Monte Carlo simulation as of December 29, 2024 were as follows: Earnout Expected term in years 1.96 Expected volatility 50% Risk-free interest rate 4.31% Stock price $ 10.78 Dividend yield 2.04%
Schedule of classification of the derivative liability fair value	The following table sets forth a summary of changes in the estimated fair value of the Company's Level 3 Earnout liability for the three and six months ended December 29, 2024 and December 31, 2023: Three Months Ended Six Months Ended December 29, 2024 December 31, 2023 December 29, 2024 December 31, 2023 Balance as of beginning of period $ 88,741 $ 71,364 $ 137,635 $ 112,041 Issuances — 24 26 29 Changes in fair value * (19,683) 64,091 (68,603) 23,409 Balance as of end of period $ 69,058 $ 135,479 $ 69,058 $ 135,479 *Amount has been adjusted due to rounding.

Common Stock, Preferred Stock_2

Common Stock, Preferred Stock and Stockholders' Equity (Tables)	6 Months Ended
	Dec. 29, 2024
Stockholders' Equity Note [Abstract]
Schedule of dividends declared and paid	Common stock dividends paid during the six months ended December 29, 2024 is as follows: Declaration Date Record Date Payment Date Amount (1) August 5, 2024 August 23, 2024 September 6, 2024 $ 8,552 November 4, 2024 November 22, 2024 December 6, 2024 8,411 $ 16,963 (1)

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Dec. 29, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of total compensation cost by plan	As of December 29, 2024 and June 30, 2024, the total compensation cost not yet recognized is as follows: Award Plan December 29, 2024 June 30, Stock options 2021 Plan $ 16,360 $ 19,416 Service based RSUs 2021 Plan 7,087 5,395 Market and service based RSUs 2021 Plan 7,485 502 Earnout RSUs 2021 Plan 127 168 ESPP ESPP — 319 Total unrecognized compensation cost $ 31,059 $ 25,800 Share-based compensation recognized in the condensed consolidated statements of operations for the periods ended December 29, 2024 and December 31, 2023 is as follows: Three Months Ended Six Months Ended Award Plan December 29, December 31, December 29, December 31, Stock options 2021 Plan $ 2,762 $ 2,495 $ 5,526 $ 3,164 Service based RSUs 2021 Plan 1,299 949 2,376 1,863 Market and service based RSUs 2021 Plan 524 141 644 311 Earnout RSUs 2021 Plan 16 15 24 35 Other stock-based awards 2021 Plan — — 440 — ESPP ESPP 63 89 157 227 Total share-based compensation expense $ 4,664 $ 3,689 $ 9,167 $ 5,600

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Dec. 29, 2024
Earnings Per Share [Abstract]
Schedule of basic and diluted net income (loss) per share	The computation of basic and diluted net income (loss) per share of Class A common stock and Class B common stock is as follows: Three Months Ended - Basic December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to common stockholders $ 14,496 $ 9,931 $ 24,427 $ (39,872) $ (25,560) $ (65,432) Denominator Weighted-average shares outstanding 85,420,441 58,519,437 143,939,878 91,286,094 58,519,437 149,805,531 Net income (loss) per share, basic $ 0.17 $ 0.17 $ 0.17 $ (0.44) $ (0.44) $ (0.44) Three Months Ended - Diluted December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to stockholders 14,496 9,931 24,427 (39,872) (25,560) (65,432) Denominator Weighted-average shares outstanding 85,420,441 58,519,437 143,939,878 91,286,094 58,519,437 149,805,531 Impact of incremental shares 3,063,361 5,953,984 9,017,345 * * * Total 88,483,802 64,473,421 152,957,223 91,286,094 58,519,437 149,805,531 Net income (loss) per share, diluted $ 0.16 $ 0.15 $ 0.16 $ (0.44) $ (0.44) $ (0.44) Anti-dilutive shares excluded from diluted calculation* 18,837,614 *The impact of potentially dilutive convertible Preferred Stock, service based RSUs, market and service based RSUs, stock options, and purchases of shares under our ESPP were excluded from the diluted per share calculations because they would have been antidilutive. Six Months Ended - Basic December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to common stockholders $ 26,235 $ 17,783 $ 44,018 $ (30,298) $ (18,877) $ (49,175) Denominator Weighted-average shares outstanding 86,333,891 58,519,437 144,853,328 95,723,299 59,644,162 155,367,461 Net income (loss) per share, basic $ 0.30 $ 0.30 $ 0.30 $ (0.32) $ (0.32) $ (0.32) Six Months Ended - Diluted December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Numerator Net income (loss) allocated to stockholders 26,235 17,783 44,018 (30,298) (18,877) (49,175) Denominator Weighted-average shares outstanding 86,333,891 58,519,437 144,853,328 95,723,299 59,644,162 155,367,461 Impact of incremental shares 3,145,383 6,229,932 9,375,315 * * * Total 89,479,274 64,749,369 154,228,643 95,723,299 59,644,162 155,367,461 Net income (loss) per share, diluted $ 0.29 $ 0.27 $ 0.29 $ (0.32) $ (0.32) $ (0.32) Anti-dilutive shares excluded from diluted calculation* 18,772,390
Impact from incremental shares of diluted per share calculation	The impact from incremental shares for our diluted per share calculation is as follows: Three Months Ended December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Service based RSUs 802,501 — 802,501 465,128 — 465,128 Market and service based RSUs 510,861 — 510,861 219,225 — 219,225 Stock options 1,601,964 5,953,984 7,555,948 1,456,756 5,441,659 6,898,415 ESPP 148,035 — 148,035 — — — Series A Preferred Stock — — — 11,254,846 — 11,254,846 Total 3,063,361 5,953,984 9,017,345 13,395,955 5,441,659 18,837,614 Six Months Ended December 29, 2024 December 31, 2023 Class A Class B Total Class A Class B Total Service based RSUs 802,501 — 802,501 465,128 — 465,128 Market and service based RSUs 510,861 — 510,861 219,225 — 219,225 Stock options 1,683,986 6,229,932 7,913,918 1,458,739 5,449,066 6,907,805 ESPP 148,035 — 148,035 — — — Series A Preferred Stock — — — 11,180,232 — 11,180,232 Total 3,145,383 6,229,932 9,375,315 13,323,324 5,449,066 18,772,390

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Dec. 29, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	December 29, December 31, Cash paid during the period for: Interest (1) $ 83,344 $ 81,940 Income taxes, net of refunds 1,814 2,424 Noncash investing and financing transactions: Capital expenditures in accounts payable 14,977 19,885 Change in fair value of interest rate swap, net of tax (397) (3,450) Excise tax 415 2,073 (1) Includes cash paid for the interest portion on finance leases and financing obligations. See Note 5 - Leases for supplementary information relating to leasing transactions.

Description of Business and S_3

Description of Business and Significant Accounting Policies - Equity method investments (Details) - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Accounting Policies [Abstract]
Equity method investments	$ 25,843	$ 25,848

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) - 2025 Business Acquisitions $ in Thousands	6 Months Ended
	Dec. 29, 2024 USD ($) acquisition center
Merger and Acquisitions (Details) [Line Items]
Number of acquisitions | acquisition	2
Number of locations acquired | center	8
Consideration transferred | $	$ 42,864

Business Acquisitions - Fair va

Business Acquisitions - Fair value of assets acquired and liabilities assumed and components of consideration transferred (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 29, 2024	Jun. 30, 2024
Merger and Acquisitions (Details) - Schedule of business combinations [Line Items]
Goodwill	$ 841,269	$ 833,888
2025 Business Acquisitions
Merger and Acquisitions (Details) - Schedule of business combinations [Line Items]
Current assets	3,688
Assets held for sale	16,318
Property and equipment	35,117
Operating lease ROU	44,748
Identifiable intangible assets	3,022
Goodwill	7,308
Deferred income tax asset	1,458
Other assets	633
Total assets acquired	112,292
Current liabilities	(7,787)
Liabilities held for sale	(15,698)
Operating lease liabilities	(44,860)
Other liabilities	(1,083)
Total liabilities assumed	(69,428)
Total fair value, net of cash of $417	42,864
Cash acquired	417
Components of consideration transferred
Cash	42,864
Total consideration transferred	$ 42,864

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of changes in the carrying amount of goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 29, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 833,888
Goodwill resulting from acquisitions during fiscal year 2025	7,308
Adjustments to preliminary fair values for prior year acquisitions	73
Ending balance	$ 841,269

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of intangible assets (Details) - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	$ 26,893	$ 60,900
Accumulated amortization	(10,162)	(41,037)
Finite-lived intangible assets, Net carrying amount	16,731	19,863
Indefinite-lived intangible assets	29,600	27,188
Gross carrying amount	56,493	88,088
Net carrying amount	46,331	47,051
Liquor licenses
Intangible Assets Disclosure [Line Items]
Indefinite-lived intangible assets	12,830	12,418
Lucky Strike trade name
Intangible Assets Disclosure [Line Items]
Indefinite-lived intangible assets	8,360	8,360
Other trade names
Intangible Assets Disclosure [Line Items]
Indefinite-lived intangible assets	8,410	6,410
AMF trade name
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	0	9,900
Accumulated amortization	0	(9,900)
Finite-lived intangible assets, Net carrying amount	0	0
Bowlero trade name
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	14,870	14,870
Accumulated amortization	(2,990)	(614)
Finite-lived intangible assets, Net carrying amount	11,880	14,256
Other acquisition trade names
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	2,250	3,460
Accumulated amortization	(1,146)	(2,276)
Finite-lived intangible assets, Net carrying amount	1,104	1,184
Customer relationships
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	4,055	24,185
Accumulated amortization	(2,967)	(22,808)
Finite-lived intangible assets, Net carrying amount	1,088	1,377
Management contracts
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	300	1,800
Accumulated amortization	(279)	(1,763)
Finite-lived intangible assets, Net carrying amount	21	37
Non-compete agreements
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	3,464	4,364
Accumulated amortization	(1,737)	(2,395)
Finite-lived intangible assets, Net carrying amount	1,727	1,969
PBA member, sponsor & media relationships
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	1,200	1,400
Accumulated amortization	(595)	(739)
Finite-lived intangible assets, Net carrying amount	605	661
Other intangible assets
Intangible Assets Disclosure [Line Items]
Finite-lived intangible assets, Gross carrying amount	754	921
Accumulated amortization	(448)	(542)
Finite-lived intangible assets, Net carrying amount	$ 306	$ 379

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Finite-lived intangible asset amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 1,801	$ 1,760	$ 3,754	$ 3,541

Property and Equipment - Schedu

Property and Equipment - Schedule of property and equipment (Details) $ in Thousands	Dec. 16, 2024 USD ($) a	Dec. 29, 2024 USD ($)	Jun. 30, 2024 USD ($)
Property, Plant and Equipment [Line Items]
Total property and equipment		$ 1,548,328	$ 1,457,602
Accumulated depreciation		(612,474)	(569,864)
Property and equipment, net of accumulated depreciation		935,854	887,738
Area of land (in acres) | a	66
Payments to acquire land	$ 9,400
Land(1)
Property, Plant and Equipment [Line Items]
Total property and equipment		118,378	108,442
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment		729,465	663,537
Equipment, software, furniture, and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment		670,755	630,280
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment		$ 29,730	$ 55,343

Property and Equipment - Sche_2

Property and Equipment - Schedule of depreciation expense related to property and equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 32,958	$ 30,932	$ 63,633	$ 56,392

Leases - Lease costs (Details)

Leases - Lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Operating Lease Costs:
Operating lease costs associated with master leases for locations	$ 4,428	$ 4,428	$ 8,856	$ 8,856
Operating lease costs associated with non-master leases for locations	15,779	13,619	30,296	24,094
Percentage rental costs for locations	1,931	2,233	3,057	3,386
Equipment and other operating lease costs	(1,043)	2,373	908	3,864
Total Operating Lease Costs:	21,095	22,653	43,117	40,200
Finance Lease Costs:
Amortization of right-of-use assets	4,359	4,379	8,714	8,490
Interest on lease liabilities	12,398	12,467	24,787	24,488
Total Finance Lease Costs:	16,757	16,846	33,501	32,978
Financing Obligation Costs:
Interest expense	10,163	8,138	20,278	8,244
Total Financing Obligation Costs:	10,163	8,138	20,278	8,244
Other Costs, Net:
Variable occupancy costs	19,661	14,194	38,357	29,158
Gains from modifications to operating leases	0	0	0	(499)
Other lease costs	64	1,774	269	3,521
Sublease income	(1,188)	(1,324)	(2,400)	(2,628)
Total Other Costs, Net	18,537	14,644	36,226	29,552
Total Lease Costs, Net	$ 66,552	$ 62,281	$ 133,122	$ 110,974

Leases - Supplemental cash flow

Leases - Supplemental cash flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023
Operating leases:
Operating cash flows paid for operating leases	$ 33,059	$ 31,690
Finance leases:
Operating cash flows paid for interest portion of finance leases	23,213	22,398
Financing cash flows paid for principal portion of finance leases	3,108	3,165
Total cash paid for finance lease liabilities	26,321	25,563
Financing Obligations:
Operating cash flows paid for interest portion of financing obligations	16,135	6,610
Financing cash flows paid for principal portion of finance obligations	9	0
Total cash paid for financing obligations:	16,144	6,610
Total cash amounts paid that are included in the measurement of lease liabilities	75,524	63,863
Operating lease, deferred repayment	2,013	2,162
Finance lease, deferred repayment	4,341	$ 4,663
Remaining deferred payment	$ 0

Leases - Supplementary balance

Leases - Supplementary balance sheet information (Details) - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Operating leases:
ROU Assets, net	$ 591,264	$ 559,168
Lease liabilities, Short-term	31,637	28,460
Lease liabilities, Long-term	603,986	561,916
Finance leases:
ROU Assets, net	516,144	524,392
Lease liabilities, Short-term	$ 1,010	$ 1,954
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Lease liabilities, Long-term	$ 680,622	$ 680,213
Financing Obligations:
Financing obligation, long-term	$ 445,027	$ 440,875

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 29, 2024	Dec. 29, 2024	Jun. 30, 2024
Leases [Abstract]
Lease incentive receivable	$ 6,505	$ 6,505	$ 15,311
Lease incentives on operating leases		$ 8,389
Lease incentives on finance leases	$ 417

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of accrued expenses (Details) - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts payable	$ 31,675	$ 50,457
Customer Deposits	25,443	14,006
Taxes and licenses	17,022	17,840
Compensation	12,850	13,768
Deferred revenue	12,697	15,976
Insurance	10,115	7,401
Interest	8,672	1,113
Utilities	4,121	5,475
Professional fees	3,096	4,090
Other	15,672	5,658
Total accounts payable and accrued expenses	$ 141,363	$ 135,784

Debt - Schedule of debt structu

Debt - Schedule of debt structure (Details) - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Debt (Details) - Schedule of debt structure [Line Items]
Total	$ 1,298,820	$ 1,152,200
Less:
Unamortized financing costs	(12,785)	(13,514)
Current portion of unamortized financing costs	3,797	3,361
Current maturities of long-term debt	(14,075)	(12,524)
Long-term debt, net	$ 1,275,757	$ 1,129,523
First Lien Credit Facility Term Loan
Debt (Details) - Schedule of debt structure [Line Items]
Interest rate	8.07%	8.80%
Total	$ 1,285,625	$ 1,138,500
Other Equipment Loans
Debt (Details) - Schedule of debt structure [Line Items]
Total	$ 13,195	$ 13,700

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands					6 Months Ended
	Dec. 17, 2024 USD ($)	Aug. 23, 2024 USD ($)	Sep. 29, 2023 USD ($)	Aug. 19, 2022 USD ($)	Dec. 29, 2024 USD ($)	Jun. 30, 2024 USD ($)	Apr. 04, 2023 USD ($)	Mar. 31, 2023 USD ($) derivative_instrument
Debt [Line Items]
Utilization percentage					0.35
Outstanding standby letters of credit					$ 18,584	$ 15,834
Interest Rate Collar
Debt [Line Items]
Number of instruments held | derivative_instrument								2
Notional amount								$ 800,000
Interest rate							5.50%
Derivative, fair value, net					$ 151	$ 696
Interest Rate Collar One
Debt [Line Items]
Notional amount							$ 400,000
Floor interest rate							0.9429%
Interest Rate Collar Two
Debt [Line Items]
Notional amount							$ 400,000
Floor interest rate							0.9355%
Maximum
Debt [Line Items]
Leverage ratio					6
Revolving Credit Facility
Debt [Line Items]
Maximum borrowing capacity					$ 335,000
Additional borrowing capacity		$ 50,000
Term Loan
Debt [Line Items]
Principal amount	$ 150,000				$ 1,150,000
Principal payments	$ 3,255		$ 2,875
Basis spread on variable rate (as a percent)			3.50%
Term Loan | Amendment No. 8 Term Loan
Debt [Line Items]
Interest period					1 month
Term Loan | Amendment No. 8 Term Loan | Debt Instrument, Interest Period One
Debt [Line Items]
Interest period			1 month
Term Loan | Amendment No. 8 Term Loan | Debt Instrument, Interest Period Two
Debt [Line Items]
Interest period			3 months
Term Loan | Amendment No. 8 Term Loan | Debt Instrument, Interest Period Three
Debt [Line Items]
Interest period			6 months
Loans | Equipment loan agreement
Debt [Line Items]
Principal amount				$ 15,350
Monthly fixed payment				$ 153
Fixed interest rate				6.24%

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(70.00%)	14%

Earnouts (Details)

Earnouts (Details)	6 Months Ended
	Dec. 29, 2024 tradingDay $ / shares shares	Jun. 30, 2024 shares
Class A ordinary shares
Earnouts [Line Items]
Price per unit (in dollars per share) | $ / shares	$ 17.50
Earnout shares
Earnouts [Line Items]
Threshold trading days (in trading days) | tradingDay	10
Threshold consecutive trading days (in trading days) | tradingDay	20
Earnout shares
Earnouts [Line Items]
Number of shares outstanding | shares	11,418,357	11,418,357
Earnout shares classified as liability | shares	41,364

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of fair value and carrying value of our debt (Details) - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Carrying value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt	$ 1,298,820	$ 1,152,200
Fair value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt	$ 1,303,641	$ 1,152,200

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of fair value measurements and hierarchy level (Details) - USD ($) $ in Thousands	Dec. 29, 2024	Jun. 30, 2024
Fair Value of Financial Instruments (Details) - Schedule of fair value measurements and hierarchy level [Line Items]
Interest rate collars	$ 151	$ 696
Total assets	151	696
Earnout shares	69,058	137,636
Total liabilities	69,058	137,636
Level 1
Fair Value of Financial Instruments (Details) - Schedule of fair value measurements and hierarchy level [Line Items]
Interest rate collars	0	0
Total assets	0	0
Earnout shares	0	0
Total liabilities	0	0
Level 2
Fair Value of Financial Instruments (Details) - Schedule of fair value measurements and hierarchy level [Line Items]
Interest rate collars	151	696
Total assets	151	696
Earnout shares	0	0
Total liabilities	0	0
Level 3
Fair Value of Financial Instruments (Details) - Schedule of fair value measurements and hierarchy level [Line Items]
Interest rate collars	0	0
Total assets	0	0
Earnout shares	69,058	137,636
Total liabilities	$ 69,058	$ 137,636

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of fair value of the warrant liability is classified as Level 1 and Level 3 (Details)	Dec. 29, 2024 $ / shares yr
Expected term in years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout | yr	1.96
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout	0.50
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout	0.0431
Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout | $ / shares	10.78
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earnout	0.0204

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Schedule of changes in the estimated fair value (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in fair value	$ 19,682	$ (64,091)	$ 68,603	$ (23,409)
Earnout
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	88,741	71,364	137,635	112,041
Issuances	0	24	26	29
Changes in fair value	(19,683)	64,091	(68,603)	23,409
Fair value, ending balance	$ 69,058	$ 135,479	$ 69,058	$ 135,479

Common Stock, Preferred Stock_3

Common Stock, Preferred Stock and Stockholders' Equity - Narrative (Details)	6 Months Ended	12 Months Ended
	Dec. 29, 2024 class $ / shares shares	Jun. 30, 2024 $ / shares shares
Common Stock, Preferred Stock and Stockholders' Equity [Line Items]
Number of stock classes (in classes) | class	3
Total authorized shares (in shares)	2,400,000,000
Shares held in treasury (in shares)	38,108,465	34,071,295
Class A common Stock
Common Stock, Preferred Stock and Stockholders' Equity [Line Items]
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Ordinary shares, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common stock shares issued (in shares)	85,431,233	88,854,487
Common stock shares outstanding (in shares)	85,431,233	88,854,487
Shares subject to possible forfeiture (in shares)	1,582,805	1,584,805
Class B common Stock
Common Stock, Preferred Stock and Stockholders' Equity [Line Items]
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Ordinary shares, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common stock shares issued (in shares)	58,519,437	58,519,437
Common stock shares outstanding (in shares)	58,519,437	58,519,437
Series A preferred stock
Common Stock, Preferred Stock and Stockholders' Equity [Line Items]
Preferred stock shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares issued (in shares)	117,087	120,387
Preferred stock, shares outstanding (in shares)	117,087	120,387

Common Stock, Preferred Stock_4

Common Stock, Preferred Stock and Stockholders' Equity - Series A preferred stock (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 29, 2024 USD ($) $ / shares shares
Class of Stock [Line Items]
Dividend rate percentage	5.50%
Liquidation preference per share (in dollars per share) | $ / shares	$ 1,000
Series A Preferred Stock
Class of Stock [Line Items]
Accumulated dividends | $	$ 3,389
Conversion of Class B common stock into Class A common stock (in shares)	3,300
Class A ordinary shares
Class of Stock [Line Items]
Conversion of Class B common stock into Class A common stock (in shares)	269,886

Common Stock, Preferred Stock_5

Common Stock, Preferred Stock and Stockholders' Equity - Dividends paid (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Sep. 29, 2024	Dec. 29, 2024
Stockholders' Equity Note [Abstract]
Common stock dividends paid	$ 8,411	$ 8,552	$ 16,963

Common Stock, Preferred Stock_6

Common Stock, Preferred Stock and Stockholders' Equity - Stock dividend, narrative (Details)	Feb. 05, 2025 $ / shares
Subsequent event
Subsequent Event [Line Items]
Common stock dividends declared per share (in dollars per share)	$ 0.055

Common Stock, Preferred Stock_7

Common Stock, Preferred Stock and Stockholders' Equity - Share repurchase program (Details) - USD ($)	3 Months Ended				6 Months Ended
	Dec. 29, 2024	Sep. 29, 2024	Dec. 31, 2023	Oct. 01, 2023	Dec. 29, 2024	Feb. 02, 2024	Sep. 06, 2023	May 15, 2023	Feb. 07, 2022
Share Repurchase Program [Line Items]
Share repurchases	$ 38,116,000	$ 7,720,000	$ 80,963,000	$ 132,663,000
Class A ordinary shares
Share Repurchase Program [Line Items]
Authorized amount						$ 551,518,000			$ 200,000,000
Maximum amount to be replenished						$ 200,000,000	$ 200,000,000	$ 200,000,000
Remaining balance under repurchase plan	$ 118,941,000				$ 118,941,000
Shares repurchased (in shares)					4,037,170
Share repurchases					$ 45,420,000
Average purchase price (in dollars per share)					$ 11.25

Share-Based Compensation - Tota

Share-Based Compensation - Total compensation cost by plan (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024 USD ($) plan	Dec. 31, 2023 USD ($)	Dec. 29, 2024 USD ($) plan	Dec. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)
Share-Based Payment Arrangement [Abstract]
Number of stock plans | plan	2		2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	$ 31,059		$ 31,059		$ 25,800
Stock-based compensation expense	4,664	$ 3,689	9,167	$ 5,600
Stock options | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	16,360		16,360		19,416
Stock-based compensation expense	2,762	2,495	5,526	3,164
Service based RSUs | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	7,087		7,087		5,395
Stock-based compensation expense	1,299	949	2,376	1,863
Market and service based RSUs | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	7,485		7,485		502
Stock-based compensation expense	524	141	644	311
Earnout RSUs | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	127		127		168
Stock-based compensation expense	16	15	24	35
Other stock-based awards | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	0	0	440	0
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	0		0		$ 319
Stock-based compensation expense	$ 63	$ 89	$ 157	$ 227

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of basic and diluted net loss per common share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		18,837,614		18,772,390
Numerator
Net income (loss) allocated to common stockholders, basic	$ 24,427	$ (65,432)	$ 44,018	$ (49,175)
Net income (loss) allocated to common stockholders, diluted	$ 24,427	$ (65,432)	$ 44,018	$ (49,175)
Denominator
Weighted-average shares outstanding, basic (in shares)	143,939,878	149,805,531	144,853,328	155,367,461
Impact of incremental shares (in shares)	9,017,345		9,375,315
Weighted-average shares outstanding, diluted (in shares)	152,957,223	149,805,531	154,228,643	155,367,461
Net loss per share
Net income (loss) per share, basic (in dollars per share)	$ 0.17	$ (0.44)	$ 0.30	$ (0.32)
Net income (loss) per share, diluted (in dollars per share)	$ 0.16	$ (0.44)	$ 0.29	$ (0.32)
Class A ordinary shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		13,395,955		13,323,324
Numerator
Net income (loss) allocated to common stockholders, basic	$ 14,496	$ (39,872)	$ 26,235	$ (30,298)
Net income (loss) allocated to common stockholders, diluted	$ 14,496	$ (39,872)	$ 26,235	$ (30,298)
Denominator
Weighted-average shares outstanding, basic (in shares)	85,420,441	91,286,094	86,333,891	95,723,299
Impact of incremental shares (in shares)	3,063,361		3,145,383
Weighted-average shares outstanding, diluted (in shares)	88,483,802	91,286,094	89,479,274	95,723,299
Net loss per share
Net income (loss) per share, basic (in dollars per share)	$ 0.17	$ (0.44)	$ 0.30	$ (0.32)
Net income (loss) per share, diluted (in dollars per share)	$ 0.16	$ (0.44)	$ 0.29	$ (0.32)
Class B ordinary shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		5,441,659		5,449,066
Numerator
Net income (loss) allocated to common stockholders, basic	$ 9,931	$ (25,560)	$ 17,783	$ (18,877)
Net income (loss) allocated to common stockholders, diluted	$ 9,931	$ (25,560)	$ 17,783	$ (18,877)
Denominator
Weighted-average shares outstanding, basic (in shares)	58,519,437	58,519,437	58,519,437	59,644,162
Impact of incremental shares (in shares)	5,953,984		6,229,932
Weighted-average shares outstanding, diluted (in shares)	64,473,421	58,519,437	64,749,369	59,644,162
Net loss per share
Net income (loss) per share, basic (in dollars per share)	$ 0.17	$ (0.44)	$ 0.30	$ (0.32)
Net income (loss) per share, diluted (in dollars per share)	$ 0.15	$ (0.44)	$ 0.27	$ (0.32)

Net Income (Loss) Per Share - I

Net Income (Loss) Per Share - Impact from incremental shares of diluted per share calculation (Details) - shares	3 Months Ended		6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023	Dec. 29, 2024	Dec. 31, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Series A Preferred Stock	0		0
Total	9,017,345		9,375,315
Anti-dilutive securities excluded from diluted calculation (in shares)		18,837,614		18,772,390
Service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		465,128		465,128
Market and service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		219,225		219,225
Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		6,898,415		6,907,805
ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		0		0
Series A Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		11,254,846		11,180,232
Service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	802,501		802,501
Market and service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	510,861		510,861
Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	7,555,948		7,913,918
ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	148,035		148,035
Class A ordinary shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Series A Preferred Stock	0		0
Total	3,063,361		3,145,383
Anti-dilutive securities excluded from diluted calculation (in shares)		13,395,955		13,323,324
Class A ordinary shares | Service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		465,128		465,128
Class A ordinary shares | Market and service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		219,225		219,225
Class A ordinary shares | Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		1,456,756		1,458,739
Class A ordinary shares | ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		0		0
Class A ordinary shares | Series A Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		11,254,846		11,180,232
Class A ordinary shares | Service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	802,501		802,501
Class A ordinary shares | Market and service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	510,861		510,861
Class A ordinary shares | Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	1,601,964		1,683,986
Class A ordinary shares | ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	148,035		148,035
Class B ordinary shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Series A Preferred Stock	0		0
Total	5,953,984		6,229,932
Anti-dilutive securities excluded from diluted calculation (in shares)		5,441,659		5,449,066
Class B ordinary shares | Service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		0		0
Class B ordinary shares | Market and service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		0		0
Class B ordinary shares | Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		5,441,659		5,449,066
Class B ordinary shares | ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		0		0
Class B ordinary shares | Series A Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from diluted calculation (in shares)		0		0
Class B ordinary shares | Service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	0		0
Class B ordinary shares | Market and service based RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	0		0
Class B ordinary shares | Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	5,953,984		6,229,932
Class B ordinary shares | ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-based payment arrangements	0		0

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of supplemental cash flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 29, 2024	Dec. 31, 2023
Cash paid during the period for:
Interest	$ 83,344	$ 81,940
Income taxes, net of refunds	1,814	2,424
Noncash investing and financing transactions:
Capital expenditures in accounts payable	14,977	19,885
Change in fair value of interest rate swap, net of tax	(397)	(3,450)
Excise tax	$ 415	$ 2,073