---
schema_version: "secwatch.filing_event.v1"
accession: "0001883685-23-000022"
form_type: "8-K"
ticker: "DKNG"
cik: "0001883685"
company_name: "DraftKings Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:06:18.649328+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001883685-23-000022
- form_type: 8-K
- ticker: DKNG
- cik: 0001883685
- company_name: DraftKings Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883685/000188368523000022/0001883685-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883685/000188368523000022/dkng-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883685-23-000022
- JSON: https://secwatch.observer/filing/0001883685-23-000022.json
- Plain text: https://secwatch.observer/filing/0001883685-23-000022.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883685/000188368523000022/0001883685-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.