DraftKings Q2 revenue $466M (+57% YoY), beats guidance; raises FY2022 outlook

DraftKings Inc.

2022-Q2 EPS reported -$1.61 revenue$883,390,000

Revenue $466M (+57% YoY); B2C revenue $455M (+68% YoY); exceeded Q2 guidance midpoint by >$30M.
Adjusted EBITDA outperformed Q2 guidance midpoint by nearly 40%.
MUPs 1.5M (+30% YoY); ARPMUP $103 (+30% YoY) driven by strong engagement and reduced promotions.
FY2022 revenue guidance raised to $2.08B-$2.18B; Adj EBITDA loss guidance improved to $765M-$835M.
Mobile sports betting live in 17 states (36% US pop); iGaming in 5 states (11% US pop).

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