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XP Factory (XPF), a leading UK-based operator of experiential leisure businesses, released its final results for the year ended 31 December 2022, with strong revenue growth - up 288% year-on-year - highlighting a recovery in demand psot-pandemic and solidifying its position as a leading operator in the experiential leisure sector. 

Group revenue surged to £22.8 million, up from £7.0m the previous year. Adjusted EBITDA reached £2.7 million, improving from the previous year's loss of £0.6 million.

Escape Hunt™ owner-operated revenue rose by 62% to £9.8 million, with Boom Battle Bar™ - which was successfully integrated into XP Factory Group in 2022, generating £9.5 million in owner-operated revenue in its first full year of operation.

The company's financial position includes £3.2 million cash at year-end (compared to £8.2 million in 2021) and £4.0 million as of 30 April 2023. 

XP factory opened 27 Boom sites in 2022, comprising 11 owner-operated and 16 franchised locations. Additionally, they expanded the UK estate of Escape Hunt to 23 venues.

Richard Harpham, Chief Executive of Escape Hunt, commented: "2022 was a transformational year for XP Factory, delivering outstanding growth and performance, and underpinning our position as a leading operator in the experiential leisure sector. The bold expansion targets we set for ourselves were met, and we ended the financial year with a platform set for significant growth ahead.”

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Despite concerns surrounding the cost-of-living crisis and constrained consumer budgets throughout 2022, XP Factory has come out on top by delivering an impressive set of results. The company's strong performance highlights its ability to navigate challenging market conditions and achieve notable growth, which will help the company build momentum for the remainder of 2023. 

In the wake of the social limitations imposed by the COVID pandemic, XP Factory noted a surge in interest from numerous companies reserving Boom Battle Bar venues for their employees post-pandemic, alongside wide appeal from the public more generally. 

The appeal of Boom Battle Bar lies in its ability to provide an ideal setting for bringing people together in a fun, relaxed, and enjoyable environment. This trend is expected to continue growing, necessitating a threefold expansion of XP's Factory's corporate sales team to effectively manage the increasing inbound demand.

The company has continued to follow along its strong trajectory in 2023, with 44% LFL sales growth delivered across Q1 2023 in the Boom sites that were trading last year, alongside 32% LFL sales growth across the Escape Hunt owner-operated estate. XP Factory’s performance in Q1 gives cause for optimism for the rest of the year, as it continues to mark itself as an industry leader in the experiential leisure sector. 

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