DraftKings Inc. (NASDAQ: DKNG ) is a stock I've followed for a long term and has a small position in, mainly as a long-term bet on the continued huge growth of sports betting as regulations ease up acrossMMMT Wealth is run by Oliver, a CPA working in the financial services sector mainly in private equity, hedge funds, and asset management. MMMT Wealth began in 2023 when Oliver started writing online mainly on X and Substack about investment strategies and stocks. His main aim is to gather insights from inve ...

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DraftKings TodayDKNGDraftKings$40.13 +1.15 (+2.95%) 52-Week Range$28.69▼$49.57Price Target$50.22Add to WatchlistDraftKings' NASDAQ: DKNG share price struggles to advance in 2024, but the signs are clear that there is support for this stock. The technical action shows sustained support in the low end of a trading range, a strengthening base of support that will help propel the stock higher over the next year. The reason is leverage. The company experienced headwinds in Q3 related to favorable consumer outco ...

It has been an optimistic earnings season so far, buoyed by lower interest rates and the hopeful prospects of Donald Trump's re-election, but for those few companies that have adjusted their outlooks downward, investors have been rather unforgiving.With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a r ...

Key TakeawaysDraftKings shares rebounded from early losses Friday after the company posted weaker-than-expected earnings, but offered a strong outlook for 2025. The online betting site said it lowered its current-year outlook because of "very customer-friendly" betting outcomes early in the period.With Friday's gains, DraftKings shares have climbed over 13% since the start of the year. DraftKings (DKNG) shares rebounded from early losses Friday after the company posted weaker-than-expected earnings, but off ...

Customer acquisition and its associated costs remain a double-edged sword for officials at DraftKings, according to co-founder and CEO Jason Robins. Third-quarter results released Thursday (Nov. 7) revealed a 39% increase in revenue to $1.1 billion, fueled by the return of the NFL season. Customer acquisition costs were reduced by 20%. Monthly unique payers (MUPs) rose 55% to 3.6 million average monthly unique paying customers in the third quarter. Additionally, newly acquired online sportsbook and iGaming ...

DraftKings Inc. (DKNG) reported tepid third-quarter 2024 results with earnings and revenues missing the Zacks Consensus Estimate. However, both top and bottom lines increased on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company’s third-quarter results were driven by the return of NFL and college football. With major sports events aligning on the calendar, DraftKings is positioned to build on this momentum. DKNG plans to enhance its top-ranked sportsb ...

DraftKings Inc DKNG analysts highlight the long-term outlook and opportunities after the company lowered fourth-quarter and full-year guidance Thursday. Benchmark analyst Mike Hickey reiterated a Buy rating with a $44 price target. Needham analyst Bernie McTernan reiterated a Buy rating with a $60 price target. Truist analyst Barry Jonas reiterated a Buy rating with a $50 price target. Bank of America analyst Shaun C. Kelley reiterated a Buy rating with a $50 price target. Read Also: DraftKings Q3 Earnings ...

| 1 Q3 2024 EARNINGS PRESENTATION November 7, 2024 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, ...

Financial Data and Key Metrics Changes - Revenue grew 39% year-over-year to $1.95 billion, with an adjusted EBITDA loss of $59 million [12][13] - Adjusted gross margin improved by 300 basis points year-over-year to 40% [14] - Customer acquisition cost (CAC) improved nearly 20% year-over-year [13] Business Line Data and Key Metrics Changes - Online sportsbook gross gaming revenue increased by 39% year-over-year [12][13] - iGaming gross gaming revenue grew by 26% compared to the third quarter of 2023 [12][13] - Newly acquired online sportsbook and iGaming customers increased by 14% year-over-year [13] Market Data and Key Metrics Changes - Structural sportsbook hold percentage increased year-over-year, with expectations of 11% for fiscal year 2025 [18][54] - Promotional reinvestment rates improved by 300 basis points year-over-year [14] Company Strategy and Development Direction - The company is focused on improving its sportsbook product and expanding into new markets, including Missouri, which recently legalized online sports betting [10][11] - Fiscal year 2025 adjusted EBITDA guidance is reiterated at $900 million to $1 billion, with a new revenue guidance range of $6.2 billion to $6.6 billion, indicating a year-over-year growth of 27% to 35% [17][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a customer-friendly stretch of NFL outcomes impacting short-term revenue and adjusted EBITDA but remains optimistic about the overall business trajectory [7][11] - The company is cautious about customer acquisition promotions, aiming to balance growth and profitability [16][19] Other Important Information - The company plans to generate approximately $850 million in free cash flow for fiscal year 2025 [18][94] - Management is exploring opportunities in non-sports betting prediction markets, particularly around election markets [50] Q&A Session Summary Question: Flow-through assumptions for next year - Management believes a long-term flow-through rate of 50% is appropriate, but for next year, it is expected to be around 39% due to strong customer acquisition [20][21] Question: Mitigating factors for revenue impacts - Management noted that volatility in sports outcomes can affect short-term results, but over longer periods, performance normalizes [24][26] Question: Illinois promotional activity adjustments - Management is still refining promotional strategies to offset higher taxes in Illinois, indicating that full realization of these strategies is still in progress [31][32] Question: Revenue guidance breakdown - Management indicated that the 31% revenue growth guidance is based on market growth, market share stability, and promotional extraction [34][36] Question: Customer acquisition and retention levels - Management stated that retention levels between OSB and iGaming customers are similar, with OSB showing slightly better retention [70][71] Question: Future state opportunities for OSB and iGaming - Management is eyeing states like Texas, Georgia, and Minnesota for potential OSB expansion, while New York and Illinois are key targets for iGaming [88][89] Question: Free cash flow usage and buybacks - Management plans to be more active with share repurchases as free cash flow scales, while the impact of sports outcomes on hold is a mix of team outcomes and player props [94]