---
schema_version: "secwatch.filing_event.v1"
accession: "0001883685-25-000017"
form_type: "8-K"
ticker: "DKNG"
cik: "0001883685"
company_name: "DraftKings Inc."
filed_at: "2025-05-09T23:59:59+00:00"
generated_at: "2026-05-22T02:17:41.449664+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# DraftKings Q1 revenue up 20% to $1.41B but cuts FY2025 guidance on customer-friendly March outcomes

## Summary
- Revenue $1,409M (+20% YoY); net loss narrowed to $33.9M ($0.07 loss per share) from $142.6M ($0.30 loss) in Q1 2024.
- MUPs grew 28% to 4.3M; ARPMUP fell 5% to $108, largely due to Jackpocket mix; ex-Jackpocket ARPMUP rose ~7%.
- FY2025 revenue guidance lowered to $6.2–$6.4B (from $6.3–$6.6B); Adjusted EBITDA guidance cut to $800–$900M (from $900M–$1.0B).
- Company repurchased 3.7M shares in Q1 under existing buyback program; live in 25 states and DC for sports betting.
- Management blamed customer-friendly March sports outcomes for guidance revision; else would have raised outlook.

## SEC filing metadata
- accession: 0001883685-25-000017
- form_type: 8-K
- ticker: DKNG
- cik: 0001883685
- company_name: DraftKings Inc.
- filed_at: 2025-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883685/000188368525000017/0001883685-25-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883685/000188368525000017/dkng-20250509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883685-25-000017
- JSON: https://secwatch.observer/filing/0001883685-25-000017.json
- Plain text: https://secwatch.observer/filing/0001883685-25-000017.txt

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