DraftKings Q3 revenue up 39% to $1.095B; cuts FY2024 EBITDA guidance to $240M-$280M

DraftKings Inc.

2024-Q3 EPS reported -$0.78 revenue$3,374,927,000

Revenue $1.095B, +39% YoY; net loss $293.7M ($0.60 EPS loss).
MUPs up 55% to 3.6M; ARPMUP down 10% to $103 (ex-Jackpocket +27% and +8%).
Introduces FY2025 revenue guidance $6.2B-$6.6B (31% growth), reiterates Adj. EBITDA $900M-$1.0B.
Cuts FY2024 revenue guidance to $4.85B-$4.95B (from $5.05-$5.25B) and Adj. EBITDA to $240M-$280M (from $340M-$420M) due to customer-friendly sports outcomes.
Entered new $500M senior secured revolving credit facility, maturing Nov 2029, replacing $125M facility.

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