DraftKings Q1 revenue $770M (+84% YoY), raises FY23 revenue midpoint to $3.185B

DraftKings Inc.

2023-Q1 EPS reported -$0.87 revenue$769,652,000

Revenue $770M (+84% YoY), driven by customer acquisition, higher hold, lower promo intensity.
Net loss $397M ($0.87 diluted EPS) vs $468M ($1.14) YoY; Adj EBITDA loss improved.
Monthly Unique Payers 2.8M (+39%); ARPMUP $92 (+35%).
FY23 revenue guidance raised to $3.135B-$3.235B (prev $2.85B-$3.05B); Adj EBITDA guide narrowed to ($290M)-($340M).
Expects approximately breakeven Adj EBITDA in Q2 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DraftKings Inc. reported the quarter ended March 31, 2023 results: revenue $770 million. Guidance raised.

Period: the quarter ended March 31, 2023
Revenue: $770 million
Guidance: raised
Result: reported results

Exact text from the filing

DraftKings reported revenue of $770 million, an increase of 84% compared to $417 million during the same period in 2022 driven primarily by efficient acquisition of new customers, product innovation driving higher hold percentage, decreased promotional intensity in more mature states, and continued healthy customer retention.

View on SEC.gov

Browse all earnings releases →

DraftKings Inc. filing history →

Source: SEC EDGAR

accession 0001883685-23-000022

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.