DraftKings Q3 revenue $790M (+57% YoY); raises FY2023 revenue guidance midpoint to $3.695B

DraftKings Inc.

2023-Q3 EPS reported -$1.64 revenue$2,434,536,000

Net loss $283M ($0.61 per share) vs $450M loss YoY; Adjusted EBITDA loss improved to $94M.
MUPs 2.3M (+40% YoY); ARPMUP $114 (+14% YoY) driven by higher hold and promo efficiency.
FY2023 revenue guidance raised to $3.67-3.72B from $3.46-3.54B; Adjusted EBITDA improved to ($95M)-($115M).
Introduced FY2024 guidance: revenue $4.5-4.8B, Adjusted EBITDA $350-450M.
Live in 22 states for sports betting (45% US pop.) and 5 for iGaming (11% US pop.); Kentucky launched Sep 28.

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 0.98

DraftKings Inc. reported the quarter ended September 30, 2023 results: revenue $790 million. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $790 million
Guidance: raised
Result: reported results

Exact text from the filing

raftKings Reports Third Quarter Revenue of $790 Million; Raises 2023 Revenue Guidance Midpoint to $3.695 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint to ($105) Million Introduces Fiscal Year 2024 Revenue Guidance of $4.5 Billion to $4.8 Billion and Fiscal Year 2024 Adjusted EBITDA Guidance of $350 Million to $450 Million Boston, MA – November 2, 2023 — DraftKings Inc.

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accession 0001883685-23-000047

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