DraftKings Inc. (NASDAQ:DKNG) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET Company Participants Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder, Chairman & CEO Jason Park - CFO Conference Call Participants Shaun Kelley - Bank of America Jeff Greff - JPMorgan Stephen Grambling - Morgan Stanley Carlo Santarelli - Deutsche Bank David Katz - Jefferies Joe Stauff - Susquehanna Daniel Politzer - Wells Fargo Robert Fishman - MoffettNathanson Barry Jonas - Truist Securities Robin Farle ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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 inc ...

| 1 Q2 2023 EARNINGS PRESENTATION August 3, 2023 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, c ...

Financial Data and Key Metrics Changes - Revenue for Q2 2023 increased by 88% year-over-year to $875 million, driven by product enhancements and improved customer experience [5][20] - Adjusted EBITDA was positive at $73 million, significantly outperforming expectations and improving by nearly $200 million year-over-year [20][16] - Full year 2023 revenue guidance was raised to a range of $3.46 billion to $3.54 billion, implying a growth of 56% year-over-year at the midpoint [9][16] - Adjusted EBITDA guidance improved to a range of negative $190 million to negative $220 million, an improvement of 35% at the midpoint compared to previous guidance [17][22] Business Line Data and Key Metrics Changes - In the online sports betting (OSB) segment, the company achieved a handle share of 35% and a gross gaming revenue (GGR) share of 32%, the highest since Q2 2020 [7] - The iGaming segment maintained the number one GGR position with an all-time record share of 27% [7] - Customer retention and engagement exceeded expectations, contributing $225 million to revenue improvement and $100 million to adjusted EBITDA improvement [10][21] Market Data and Key Metrics Changes - In states launched from 2018 to 2021, combined handle growth accelerated by over 35% quarter-over-quarter, with revenue increasing more than 70% year-over-year [9] - Unique customers increased by approximately 25%, while external marketing expenses declined by more than 10% [9] Company Strategy and Development Direction - The company is focused on enhancing product differentiation, particularly through in-house content and live betting capabilities [6][7] - There is a strong emphasis on efficiency and cost management, with a mantra of revenue growth and cost efficiency becoming a core tenant of the organization [16] - The upcoming football season is viewed as a critical opportunity for customer acquisition and market share growth [18][55] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement for the upcoming football season and confidence in the trajectory of the business [18][24] - The company anticipates a significant customer acquisition wave with the NFL season, particularly in states like Massachusetts and Ohio that have not had a full NFL season yet [61][161] - Management noted that favorable sports outcomes contributed $30 million to revenue improvement and $20 million to adjusted EBITDA improvement [28] Other Important Information - The company ended Q2 2023 with $1.1 billion in cash and expects to end the year with over $1 billion [29] - Capital expenditures and capitalized software development costs for fiscal year 2023 are projected to be approximately $120 million [29] Q&A Session Summary Question: What are the key product improvements driving market share gains? - Management highlighted the removal of customer friction and enhancements to the same game parlay offering as significant contributors to recent success [32] Question: Are there opportunities for cost reductions in marketing? - Management confirmed ongoing evaluations of marketing contracts and a focus on optimizing costs while maintaining customer acquisition [47][48] Question: What is the expected impact of the Kentucky launch on revenue and EBITDA? - The company projects $20 million in revenue and a $30 million EBITDA loss from Kentucky in fiscal year 2023, with a launch date set for September 28, 2023 [118] Question: How does the company view the potential for EBITDA positivity in all quarters? - Management indicated that while seasonality will always play a role, there is optimism for achieving EBITDA positivity in all quarters as the business matures [84][96] Question: What role does AI play in the company's strategy? - Management sees AI as a dual opportunity for revenue generation and cost efficiency, with ongoing initiatives to enhance development efficiency [109][110]

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Not Applicable (Former name, former address and former fiscal year, if changed since last report). DRAFTKINGS I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ 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 organization) (I.R.S. Employer Identification No.) Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ...

DraftKings Inc. (NASDAQ:DKNG) Q4 2022 Results Conference Call February 17, 2023 8:30 AM ET Company Participants Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder, Chief Executive Officer and Chairman Jason Park - Chief Financial Officer Conference Call Participants Shaun Kelley - Bank of America David Katz - Jefferies Jason Bazinet - Citi Carlo Santarelli - Deutsche Bank Ed Young - Morgan Stanley Jed Kelly - Oppenheimer Robert Fishman - MoffettNathanson Clark Lampen - BTIG Ben Chaiken - Credit S ...

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, 2022 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-41379 DRAFTKINGS INC. (Exact name of registrant as specified in its charter) (Registrant's telephone number, including area code) (State or other jurisdiction of incorporation or ...

DraftKings Inc. (NASDAQ:DKNG) Q3 2022 Earnings Conference Call November 4, 2022 8:30 AM ET Company Participants Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder, Chief Executive Officer and Chairman Jason Park - Chief Financial Officer Conference Call Participants David Katz - Jefferies Shaun Kelley - Bank of America Edward Young - Morgan Stanley Jason Bazinet - Citigroup Jed Kelly - Oppenheimer Carlo Santarelli - Deutsche Bank Michael Graham - Canaccord Genuity Bernie McTernan - Needham & ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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) Nevada 87-2764212 (State or other j ...