secwatch.observer — SEC 8-K summary
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Issuer:     DraftKings Inc. (DKNG)
CIK:        0001883685
Form:       8-K
Filed at:   2024-11-08T23:59:59+00:00
Accession:  0001104659-24-115572
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883685/000110465924115572/0001104659-24-115572-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883685/000110465924115572/tm2427766d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-115572

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer