secwatch.observer — SEC 8-K summary
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Issuer:     DraftKings Inc. (DKNG)
CIK:        0001883685
Form:       8-K
Filed at:   2022-11-04T23:59:59+00:00
Accession:  0001883685-22-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DraftKings Q3 revenue up 136% to $502M; raises FY22 guidance, introduces FY23 outlook
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- Q3 revenue $502M (+136% YoY); B2C segment $493M (+161% YoY).
- MUPs 1.6M (+22% YoY); ARPMUP $100 (+114% YoY).
- FY22 revenue guidance raised to $2.16B-$2.19B; Adj EBITDA loss guidance improved to $800M-$780M.
- Introduces FY23 revenue guidance $2.8B-$3.0B; FY23 Adj EBITDA loss $575M-$475M; targets positive Adj EBITDA in Q4 2023.
- Expanded mobile sports betting to 18 states (37% US pop); iGaming in 5 states; new Amazon TNF partnership.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883685/000188368522000034/0001883685-22-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883685/000188368522000034/dkng-20221104.htm
  HTML page:      https://secwatch.observer/filing/0001883685-22-000034

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