DraftKings Q4 revenue $855M (+81% YoY); raises FY2023 revenue midpoint to $2.95B, EBITDA to ($400)M

DraftKings Inc.

2022-FY EPS reported -$3.16 revenue$2,240,461,000

Q4 revenue $855M vs $473M YoY (+81%); net loss $(0.53) per share.
FY2023 revenue guidance raised to $2.85-3.05B (midpoint $2.95B) from $2.8-3.0B.
FY2023 Adjusted EBITDA guidance improved to ($350)-(450)M from ($475)-(575)M.
Company expects >$700M cash at FY2023 exit and positive Adjusted EBITDA in FY2024.
MUPs up 31% to 2.6M; ARPMUP up 42% to $109; live in 20 states for sportsbook.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DraftKings Inc. reported fourth quarter and year ended December 31, 2022 results: revenue $855 million. Guidance reaffirmed.

Period: fourth quarter and year ended December 31, 2022
Revenue: $855 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

raftKings Reports Fourth Quarter Revenue of $855 Million; Raises 2023 Revenue Guidance Midpoint to $2.95 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint to ($400) Million Expects to Exit Fiscal Year 2023 With More Than $700 Million in Cash and Generate Positive Adjusted EBITDA in Fiscal Year 2024 Boston, MA – February 16, 2023— DraftKings Inc.

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Source: SEC EDGAR

accession 0001883685-23-000010

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