$DKNG (+0.73%) | DraftKings Q3 Earnings Highlights:
๐น Revenue: $1.095B (Est. $1.112B) ๐ด; UP +39% YoY
๐น Adjusted EPS: -$0.17 (Est. -$0.42) ๐ข
๐น Net Loss: -$293.7M vs. -$283.1M in Q3 2023
๐น Monthly Unique Payers (MUPs): 3.6M; UP +55% YoY
FY24 Outlook:
๐น Revenue: $4.85B-$4.95B (Prior: $5.05B-$5.25B) ๐
๐น Adjusted EBITDA: $240M-$280M (Prior $340M-$420M)๐
FY2025 Guidance:
๐น Revenue: $6.2B-$6.6B; UP +31% YoY at midpoint
๐น Adjusted EBITDA: $900M-$1.0B
Key Metrics:
๐น Average Revenue per MUP: $103; DOWN -10% YoY
๐น Adjusted EBITDA: -$58.5M vs. -$153.4M in Q3 2023
๐น Operating Loss: -$298.6M vs. -$286.6M in Q3 2023
CEO Jason Robinsโ Commentary:
๐ธ "DraftKings delivered strong performance this quarter with the return of major sports. Weโre positioned to build on this momentum as we enhance our sportsbook app with live betting features and new NBA markets."
Business Highlights:
๐ธ Mobile sports betting live in 25 states + Washington D.C.
๐ธ iGaming live in 5 states
๐ธ Recently expanded into Ontario, Canada
๐ธ Missouri sports betting legalization passed
๐ธ Acquired Jackpocket Inc. in May 2024