Core Insights - DraftKings Inc. reported fourth-quarter 2024 results with earnings and revenues missing the Zacks Consensus Estimate, yet shares rose 4.8% in after-hours trading due to an increase in 2025 guidance midpoint [1][2] Financial Performance - The company reported an adjusted loss of $0.28 per share, wider than the consensus estimate of a loss of $0.19, compared to an adjusted loss of $0.10 per share in the prior-year quarter [3] - Revenues reached $1,392.8 million, missing the consensus mark of $1,410 million, but grew 13% year-over-year, driven by strong customer engagement and efficient new customer acquisition [4] Customer Metrics - Monthly Unique Payers (MUPs) increased by 36% year-over-year to 4.8 million, attributed to strong player acquisition and retention across Sportsbook and iGaming platforms [5] - Average Revenue per MUP (ARPMUP) declined by 16% year-over-year to $97, influenced by lower ARPMUP among Jackpocket customers and a lower actual sportsbook hold rate [6] Cash Position - As of December 31, 2024, DraftKings had cash and cash equivalents of $788.3 million, down from $1.27 billion as of December 31, 2023, with net cash provided by operating activities at $417.8 million [7] 2025 Guidance - The company raised the midpoint of its 2025 revenue guidance to between $6.3 billion and $6.6 billion, representing approximately 35% year-over-year growth based on the updated forecast [8] - DraftKings reaffirmed its 2025 adjusted EBITDA guidance of $900 million to $1 billion, excluding potential impacts from new market launches [9]

FY 2024 EARNINGS PRESENTATION February 13, 2024 | 1 Legal Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about DraftKings Inc. ("DraftKings", the "Company", "we", "us" and "our") and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fact ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. Commission file number 001-41379 DRAFTKINGS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Financial Performance - DraftKings reported Q4 2024 revenue of $1,393 million, a 13% increase from $1,231 million in Q4 2023[2] - The net loss attributable to common stockholders for Q4 2024 was $134.9 million, compared to a loss of $44.6 million in Q4 2023[14] - Net loss attributable to common shareholders decreased to $507.3 million in 2024 from $802.1 million in 2023, representing a 36.7% improvement[19] - Adjusted EBITDA for the year ended December 31, 2024, was $181.3 million, compared to a loss of $151.0 million in 2023[27] - 2024 marked the first year of positive Adjusted EBITDA for DraftKings, with an Adjusted EBITDA of $89.5 million in Q4 2024[3][16] - Adjusted Earnings Per Share for the year improved to $0.24 in 2024 from a loss of $0.41 in 2023[28] Revenue Guidance - DraftKings raised the midpoint of its fiscal year 2025 revenue guidance to $6.45 billion, up from $6.4 billion, indicating approximately 35% year-over-year growth[3][10] - The company reaffirmed its fiscal year 2025 Adjusted EBITDA guidance range of $900 million to $1.0 billion[3][10] Customer Metrics - Monthly Unique Payers (MUPs) rose to 4.8 million, a 36% increase compared to Q4 2023, reflecting strong customer acquisition and retention[5] - Average Revenue per MUP (ARPMUP) decreased by 16% to $97 in Q4 2024, primarily due to lower ARPMUP for Jackpocket customers[5] Cash Flow and Expenses - Cash flows provided by operating activities increased significantly to $417.8 million in 2024, compared to a cash outflow of $1.8 million in 2023[19] - Total cash and cash equivalents at the end of the period decreased to $1.33 billion in 2024 from $1.62 billion in 2023, a decline of 18%[19] - Stock-based compensation expenses for the year were $381.4 million, slightly down from $398.5 million in 2023[27] - Cash paid for acquisitions in 2024 amounted to $441.5 million, with no comparable figure in 2023[19] - The company reported a net cash outflow from investing activities of $566.6 million in 2024, compared to $90.4 million in 2023[19] Tax and Financial Adjustments - The company recorded a discrete income tax benefit of $87.3 million for the year ended December 31, 2024, due to non-recurring partial releases of the U.S. valuation allowance[28] - DraftKings reported a $12.9 million loss related to changes in fair value of certain financial instruments for 2024[30] - The company incurred $27.8 million in expenses related to the discontinuance of the Reignmakers product offering[30] - DraftKings received $20.9 million related to gaming tax refunds from audits and appeals for prior periods[30] Market Presence and Operations - DraftKings is live with mobile sports betting in 25 states, covering approximately 49% of the U.S. population[10] - The company is also live with iGaming in 5 states, representing about 11% of the U.S. population[10] - The company operates mobile and/or retail sports betting in 28 states and Ontario, Canada[31] - DraftKings' daily fantasy sports product is available in 44 states and certain Canadian provinces[31] - DraftKings is the only U.S.-based vertically integrated sports betting operator[31] - The company owns Jackpocket, the leading digital lottery courier app in the U.S.[31] Strategic Focus and Risks - The company is focused on user growth and engagement, with strategic plans for future operations including launches in new jurisdictions[32] - DraftKings is committed to responsible gaming and promoting educational tools for players[31] - The company faces risks including potential litigation and changes in applicable laws or regulations affecting gaming[33]

DraftKings (DKNG) came out with a quarterly loss of $0.28 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -47.37%. A quarter ago, it was expected that this company would post a loss of $0.42 per share when it actually produced a loss of $0.60, delivering a surprise of -42.86%.Over the last four quarters, the company has surpassed c ...

Raises 2025 Revenue Guidance Midpoint to $6.45 Billion; Reaffirms 2025 Adjusted EBITDA Guidance of $900 Million to $1.0 Billion BOSTON, Feb. 13, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced its fourth quarter and fiscal year 2024 financial results. The Company also posted a letter to shareholders and an earnings presentation on the Investor Relations section of its website at investors.draftkings.com. Fourth Quarter 2024 HighlightsFor the three mon ...

You’d have to look far and wide to find an area of Wall Street not rattled by tariffs or Trump trade. But some sectors are at least insulated, for now, from the coming storm. One stock to watch these week is sports betting giant DraftKings Inc (NASDAQ:DKNG).DraftKings reports fourth-quarter earnings after the close Thursday, Feb. 13. For a company stalled by profitability until only recently, DKNG has a stellar history of post-earnings moves. After the last eight reports, DraftKings has moved higher after ...

Core Viewpoint - DraftKings Inc. is set to report its fourth-quarter 2024 results on February 13, with expectations of a wider adjusted loss per share and a significant year-over-year revenue increase driven by user growth and market expansion [1][2][3]. Group 1: Earnings Estimates - The Zacks Consensus Estimate for the fourth-quarter adjusted loss per share has widened to 19 cents from 17 cents over the past 30 days, compared to an adjusted loss per share of 10 cents in the same quarter last year [2]. - Revenue expectations are pegged at $1.41 billion, indicating a 14.9% year-over-year increase [2]. Group 2: Factors Influencing Q4 Results - The anticipated revenue growth is likely supported by a surge in new online sportsbook and iGaming users, along with strong customer-acquisition momentum [3]. - The integration of Jackpocket has broadened DraftKings' reach, providing cost-effective customer acquisition and new cross-selling opportunities [3]. - The company has been refining its product lineup with innovative features, which may have attracted more users to its Sportsbook platform [4]. Group 3: Cost and Tax Pressures - Despite user growth, marketing expenses are expected to remain elevated due to ongoing investments in the Jackpocket brand, potentially impacting adjusted EBITDA [4]. - Rising sportsbook tax rates in key states such as Illinois, New York, and Pennsylvania may have added cost pressures, affecting the bottom line [5]. Group 4: Earnings Prediction Model - The Zacks model predicts an earnings beat for DraftKings, supported by a positive Earnings ESP of +21.76% and a Zacks Rank of 3 (Hold) [6][7].

The Super Bowl is one of the most lucrative advertising events, with companies spending millions on commercial slots that last under just a minute.  The average cost for a 30-second Super Bowl ad in 2024 was roughly $7 million, with brands using this opportunity to generate brand awareness, boost overall consumer engagement, and show off new products.And for 2025, that price tag has gone up to roughly $8 million. Several companies, including DraftKings (DKNG) , could see a slight sales catalysts given its e ...

BOSTON, Jan. 23, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (the “Company” or “DraftKings”) today announced that it will release its fourth quarter and full year 2024 results after the close of market trading on Thursday, February 13, 2025. DraftKings will host a conference call and audio webcast the following morning, Friday, February 14, 2025, at 8:30 a.m. ET, during which management will discuss the Company’s results and provide commentary on business performance. To listen to the audio webc ...