$DKNG (+1.07%) | DraftKings Q3 Earnings Highlights:

🔹 Revenue: $1.095B (Est. $1.112B) 🔴; UP +39% YoY

🔹 Adjusted EPS: -$0.17 (Est. -$0.42) 🟢

🔹 Net Loss: -$293.7M vs. -$283.1M in Q3 2023

🔹 Monthly Unique Payers (MUPs): 3.6M; UP +55% YoY

FY24 Outlook:

🔹 Revenue: $4.85B-$4.95B (Prior: $5.05B-$5.25B) 😕

🔹 Adjusted EBITDA: $240M-$280M (Prior $340M-$420M)😕

FY2025 Guidance:

🔹 Revenue: $6.2B-$6.6B; UP +31% YoY at midpoint

🔹 Adjusted EBITDA: $900M-$1.0B

Key Metrics:

🔹 Average Revenue per MUP: $103; DOWN -10% YoY

🔹 Adjusted EBITDA: -$58.5M vs. -$153.4M in Q3 2023

🔹 Operating Loss: -$298.6M vs. -$286.6M in Q3 2023

CEO Jason Robins’ Commentary:

🔸 "DraftKings delivered strong performance this quarter with the return of major sports. We’re positioned to build on this momentum as we enhance our sportsbook app with live betting features and new NBA markets."

Business Highlights:

🔸 Mobile sports betting live in 25 states + Washington D.C.

🔸 iGaming live in 5 states

🔸 Recently expanded into Ontario, Canada

🔸 Missouri sports betting legalization passed

🔸 Acquired Jackpocket Inc. in May 2024