secwatch.observer — SEC 8-K summary
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Issuer:     DraftKings Inc. (DKNG)
CIK:        0001883685
Form:       8-K
Filed at:   2023-02-16T23:59:59+00:00
Accession:  0001883685-23-000010
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883685/000188368523000010/0001883685-23-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883685/000188368523000010/dkng-20230216.htm
  HTML page:      https://secwatch.observer/filing/0001883685-23-000010

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