---
schema_version: "secwatch.filing_event.v1"
accession: "0001883685-23-000047"
form_type: "8-K"
ticker: "DKNG"
cik: "0001883685"
company_name: "DraftKings Inc."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T01:05:59.857380+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001883685-23-000047
- form_type: 8-K
- ticker: DKNG
- cik: 0001883685
- company_name: DraftKings Inc.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883685/000188368523000047/0001883685-23-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883685/000188368523000047/dkng-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883685-23-000047
- JSON: https://secwatch.observer/filing/0001883685-23-000047.json
- Plain text: https://secwatch.observer/filing/0001883685-23-000047.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883685/000188368523000047/0001883685-23-000047-index.htm

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