$DKNG (+0.4%)

🔹 Revenue: $1.41B (Est. $1.44B) 🔴; UP +20% YoY

🔹 Adj. EPS: $0.12 (Est. $0.22) 🔴

🔹 MUPs: 4.3M; UP +28% YoY

🔹 Avg. Revenue per MUP: $108; -5% YoY

FY25 Guide (Lowered)

🔹 Revenue: $6.20B–$6.40B (Prior: $6.30B–$6.60B) 🔴; vs. Est. $7.61B

🔹 Adj. EBITDA: $800M–$900M (Prior: $900M–$1.0B)

Product & Geographic Highlights

🔹 Live with mobile sports betting in 25 U.S. states + D.C. (~49% of U.S. population)

🔹 iGaming live in 5 states (~11% of U.S. population)

🔹 Active in Ontario, Canada (~40% of Canadian population)

🔹 Missouri legalization passed; launch pending regulatory approval

Management Commentary

🔸 CEO Jason Robins: “If not for customer-friendly outcomes in March, we would be raising guidance. Product enhancements are driving outperformance and strong customer engagement.”

🔸 CFO Alan Ellingson: “Healthy balance sheet supported share repurchases in Q1.”

🔹 Share Repurchase: 3.7M shares in Q1 under existing buyback program

$DKNG (+0.4%)

🔹 EPS: $0.14 (Est. -$0.01) 🟢

🔹 Revenue: $1.39B (Est. $1.435B) 🟡; UP +13% YoY

FY25 Guidance:

🔹 Revenue: $6.3B - $6.6B (Mid: $6.45B; Est. $6.38B) 🟢; UP +35% YoY

🔹 Adjusted EBITDA: $900M - $1.0B (Est. $933M) 🟢

Operational Highlights:

🔹 Monthly Unique Payers (MUPs): 4.8M; UP +36% YoY

🔹 Average Revenue per MUP (ARPMUP): $97; DOWN -16% YoY

🔹 Excluding the impact of the Jackpocket acquisition: ARPMUP decreased by 4% YoY

Business and Market Updates:

🔸 Market Expansion: Live with mobile sports betting in 25 U.S. states (49% of the U.S. population) and iGaming in 5 states (11% of the U.S. population).

🔸 International Presence: Sportsbook and iGaming launched in Ontario, representing 40% of Canada’s population.

🔸 Future Expansion: Expected launches in Missouri and Puerto Rico pending regulatory approvals.

Strategic Commentary:

🔸 CEO Jason Robins: "2024 was a milestone year as we achieved positive Adjusted EBITDA for the first time. Looking forward, we aim to enhance customer economics through live betting and cross-sell opportunities, while driving sustainable growth."

🔸 CFO Alan Ellingson: "With strong core value drivers, we are confident in our raised FY25 revenue guidance midpoint of $6.45B and reaffirmed Adjusted EBITDA guidance of $900M-$1.0B."

US Senators are requsting FTC probe into the behaviour of Draftkings and Fanduel $DKNG (+0.4%)
$FLTR (+1.86%)

$DKNG (+0.4%) | 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