Financial Performance - Revenue for the three months ended March 31, 2025, increased by $233.8 million, or 19.9%, to $1,408.8 million compared to $1,175.0 million for the same period in 2024[200] - Net loss for the three months ended March 31, 2025, improved to $(33.9) million from $(142.6) million in the same period in 2024[199] - Adjusted EBITDA for the three months ended March 31, 2025, was $102.6 million, a significant increase from $22.4 million in the same period in 2024[199] - Adjusted Earnings Per Share for the three months ended March 31, 2025, improved to $0.12 from $0.03 in the same period in 2024[200] - Adjusted Earnings Per Share for the three months ended March 31, 2025, was $0.12, compared to $0.03 for the same period in 2024[222] - Net loss decreased by $108.7 million to $33.9 million for the three months ended March 31, 2025, compared to a net loss of $142.6 million for the same period in 2024[233] Revenue Breakdown - Sportsbook Handle increased by $1,879.0 million, or 15.7%, to $13,880.4 million for the three months ended March 31, 2025, from $12,001.4 million in the same period in 2024[212] - Sportsbook Net Revenue Margin increased by 0.3 percentage points to 6.4% for the three months ended March 31, 2025, compared to 6.1% in the same period in 2024[213] - iGaming revenue increased by $53.5 million, or 14.5%, to $423.5 million for the three months ended March 31, 2025, from $370.0 million in the same period in 2024[214] - Other revenue increased by $32.4 million, or 46%, to $103.4 million for the three months ended March 31, 2025, primarily due to the inclusion of revenue from Jackpocket[215] Costs and Expenses - Cost of revenue increased by $133.7 million, or 18.8%, to $843.8 million for the three months ended March 31, 2025, from $710.1 million in the same period of 2024[225] - Cost of revenue as a percentage of revenue decreased by 0.5 percentage points to 59.9% for the three months ended March 31, 2025, compared to 60.4% for the same period in 2024[226] - Sales and marketing expense increased by $3.0 million, or 0.9%, to $343.7 million for the three months ended March 31, 2025, from $340.7 million in the same period of 2024[227] - General and administrative expense decreased by $9.9 million, or 5.7%, to $164.4 million for the three months ended March 31, 2025, from $174.3 million in the same period of 2024[229] Cash Flow and Liquidity - Cash and cash equivalents as of March 31, 2025, were $1,119.7 million, sufficient to meet current working capital and capital expenditure requirements for at least twelve months[234] - Net cash used in operating activities was $119.0 million for the three months ended March 31, 2025, compared to $70.4 million in the same period of 2024[240] - Net cash used in investing activities was $39.0 million for the three months ended March 31, 2025, a slight decrease from $39.2 million in the prior year[241] - Net cash provided by financing activities increased to $372.8 million for the three months ended March 31, 2025, compared to $30.6 million used in the same period of 2024[242] - The company had cash and cash equivalents of $1,544.981 million at the end of the period, up from $1,483.257 million at the end of the previous year[240] Debt and Financing - The company entered into a senior secured revolving credit facility of up to $500.0 million, with $490.0 million available for borrowing as of March 31, 2025[236] - A new class of incremental term loans was established under the credit agreement, totaling $600.0 million, with principal payments of 1.00% per annum required[237] - As of March 31, 2025, the company had $839.9 million in non-cancelable purchase obligations, with $317.8 million payable in the remainder of 2025[238] - The stock repurchase program authorized up to $1.0 billion, with 3.7 million shares repurchased for $142.3 million during the three months ended March 31, 2025[239] Market and Risk - The company expects to achieve profitability on a consolidated Adjusted EBITDA basis as total contribution profit exceeds fixed costs, influenced by the percentage of the U.S. adult population with access to its product offerings[198] - There were no significant changes in market risk exposure during the three months ended March 31, 2025[246] - No changes were made to critical accounting estimates during the three months ended March 31, 2025[245]

DraftKings Reports First Quarter Revenue of $1,409 Million Boston, MA – May 8, 2025 — DraftKings Inc. (Nasdaq: DKNG) ("DraftKings" or the "Company") today announced its first quarter 2025 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. First Quarter 2025 Highlights For the three months ended March 31, 2025, DraftKings reported revenue of $1,409 million, an increase of $234 million, ...

Q1 2025 EARNINGS PRESENTATION May 8, 2025 | 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, cont ...

DraftKings (DKNG) came out with quarterly earnings of $0.12 per share, missing the Zacks Consensus Estimate of $0.18 per share. This compares to loss of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -33.33%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.28, delivering a surprise of -47.37%.Over the last four quarters, the company has surpass ...

Core Insights - DraftKings reported first-quarter revenue of $1.41 billion, a 20% increase year-over-year, but fell short of the consensus estimate of $1.44 billion [1] - The company reported earnings per share of 12 cents, missing the consensus estimate of 22 cents per share [1] Revenue Growth Drivers - Revenue growth was attributed to strong customer engagement, new customer acquisition, a higher structural sportsbook hold percentage, and the impact of the Jackpocket acquisition [2] - Monthly Unique Payers (MUPs) increased by 28% to 4.3 million, driven by strong retention and acquisition, as well as the Jackpocket acquisition [2] - Excluding the Jackpocket acquisition, MUPs would have increased by 11% year-over-year [2] Average Revenue Metrics - Average revenue per MUP was $108, down 5% year-over-year, primarily due to the inclusion of Jackpocket customers [3] - Without the Jackpocket acquisition, average revenue per MUP would have increased by 7% year-over-year [3] Market Presence - DraftKings operates mobile sports betting in 25 states and Washington D.C., with iGaming available in five states [4] - The company is also active in Ontario, Canada, covering 40% of the country's population [4] Future Guidance - DraftKings plans to launch its sportsbook in Missouri pending approvals, with the state legalizing sports betting in November 2024 [5] - The company revised its full-year revenue guidance down to a range of $6.2 billion to $6.4 billion from a previous range of $6.3 billion to $6.6 billion [5] - Full-year adjusted EBITDA guidance was also lowered to a range of $800 million to $900 million from $900 million to $1.0 billion [6] Stock Performance - DraftKings stock rose by 3.9% to $36.74 in after-hours trading, within a 52-week trading range of $28.69 to $53.61 [7]

Group 1 - The company's stock price fell by 3.1% in after-hours trading [1] - The company's Q1 revenue was reported at $1.41 billion, which was below analysts' expectations of $1.46 billion [2] - The company revised its full-year revenue guidance to a range of $6.2 billion to $6.4 billion, down from the previous estimate of $6.3 billion to $6.6 billion [3]

BOSTON, May 08, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced its first quarter 2025 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. First Quarter 2025 HighlightsFor the three months ended March 31, 2025, DraftKings reported revenue of $1,409 million, an increase of $234 million, or 20%, compared to $1,175 million during the ...

The market expects DraftKings (DKNG) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released o ...

Group 1 - The focus is on growth and dividend income as a strategy for retirement planning [1] - The portfolio is structured to generate monthly dividend income that grows through reinvestment and annual increases [1] Group 2 - The article emphasizes that it is a personal opinion and not a recommendation for stock purchases or sales [2] - It highlights the importance of conducting individual research before making investment decisions [2]

Company Performance - DraftKings (DKNG) ended the latest trading session at $34.18, reflecting a +0.38% adjustment from the previous day's close, while trailing the S&P 500's daily gain of 2.03% [1] - Over the past month, DraftKings shares have decreased by 9.63%, underperforming the Consumer Discretionary sector's loss of 4.94% and the S&P 500's loss of 5.07% [1] Upcoming Earnings - DraftKings is set to disclose its earnings on May 8, 2025, with analysts expecting earnings of $0.18 per share, indicating a year-over-year growth of 160% [2] - The consensus estimate for revenue is projected at $1.45 billion, representing a 23.73% growth compared to the same quarter of the previous year [2] Full Year Projections - For the full year, Zacks Consensus Estimates project earnings of $1.65 per share and revenue of $6.4 billion, reflecting changes of +257.14% and +34.2% respectively from the prior year [3] - Recent changes to analyst estimates for DraftKings indicate a positive outlook for the company's business trends [3] Valuation Metrics - DraftKings currently has a Forward P/E ratio of 20.7, which is a premium compared to the industry's average Forward P/E of 16.52 [5] - The company has a PEG ratio of 0.38, significantly lower than the Gaming industry's average PEG ratio of 1.26 [6] Industry Context - The Gaming industry, part of the Consumer Discretionary sector, holds a Zacks Industry Rank of 153, placing it in the bottom 39% of over 250 industries [6] - The Zacks Industry Rank measures the strength of individual industry groups, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [7]