DraftKings Q2 revenue $875M (+88% YoY), first positive Adj. EBITDA; raises FY23 guidance

DraftKings Inc.

2023-Q2 EPS reported -$1.03 revenue$1,644,579,000

Revenue $875M (+88% YoY); net loss $77.3M ($0.17 EPS) vs $217.1M ($0.50) year ago.
First-ever positive Adjusted EBITDA in Q2; expects $150-175M Adj. EBITDA in Q4 2023.
FY23 revenue guidance raised to $3.46-3.54B (midpoint +$315M); Adj. EBITDA guidance improved to ($190)-($220)M.
Monthly Unique Payers up 44% to 2.1M; ARPMUP up 33% to $137.
Live in 21 states for sports betting; expects to launch in Kentucky Sept 28, 2023 pending approvals.

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 June 30, 2023 results: revenue $875 million. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $875 million
Guidance: raised
Result: reported results

Exact text from the filing

For the three months ended June 30, 2023, DraftKings reported revenue of $875 million

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Source: SEC EDGAR

accession 0001883685-23-000033

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