secwatch.observer — SEC 8-K summary
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Issuer:     DraftKings Inc. (DKNG)
CIK:        0001883685
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001883685-23-000047
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883685/000188368523000047/0001883685-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883685/000188368523000047/dkng-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001883685-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer