NASDAQ$DKNG
Draftkings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
DraftKings reported strong first-quarter results, marked by significant revenue growth and increased customer engagement.
DraftKings' first quarter of 2024 showed substantial growth, with revenue increasing by 53% to $1,175 million. The company raised its fiscal year 2024 revenue guidance midpoint to $4.9 billion and its Adjusted EBITDA guidance midpoint to $500 million, reflecting strong customer acquisition and engagement.
- Revenue increased by 53% to $1,175 million compared to the same period in 2023.
- Average monthly unique payers increased by 23% year-over-year.
- Average revenue per monthly unique payer increased by 25% year-over-year.
- Fiscal year 2024 revenue guidance raised to a midpoint of $4.9 billion and Adjusted EBITDA guidance raised to a midpoint of $500 million.
Headline financials
Revenue & EPS history
DraftKings · Revenue · Quarterly
$1.17B
Forward guidance
DraftKings raised its fiscal year 2024 revenue guidance to a range of $4.8 billion to $5.0 billion and Adjusted EBITDA guidance to between $460 million and $540 million.
Tailwinds
- Strong first quarter results.
- Improved outlook on customer acquisition.
- Improved outlook on customer engagement.
- Expected Adjusted EBITDA Flow-through Percentage to exceed 50%.
- Expansion of gross margin and discipline on cost structure.
Headwinds
- Guidance excludes the estimated impact of the proposed acquisition of Jackpocket.
- Forward-looking guidance is subject to risks and uncertainties.
- Changes in applicable laws or regulations, particularly with respect to gaming.
- General economic and market conditions impacting demand for DraftKings’ products and services.
- Economic and market conditions in the media, entertainment, gaming, and software industries in the markets in which DraftKings operates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.8%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+3.4%
Avg return
30 days after
63%
17 / 27 earnings
Positive
+23.9%
Q3 2023
Best reaction
-24.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | -2.4% | -3.2% | |
| Q4 2025 | -13.5% | -7.8% | +2.8% | |
| Q3 2025 | +8.6% | +12.6% | +21.5% | |
| Q1 2025 | +2.5% | +8.2% | +1.3% | |
| Q4 2024 | +15.2% | +9.3% | -18.5% | |
| Q3 2024 | +4.9% | +9.0% | +15.7% | |
| Q2 2024 | -13.3% | -15.1% | -6.6% | |
| Q1 2024 | +0.0% | +3.5% | -16.0% | |
| Q4 2023 | +1.6% | -5.8% | -4.8% | |
| Q3 2023 | +23.9% | +32.0% | +43.2% | |
| Q2 2023 | +5.0% | +4.9% | -2.0% | |
| Q1 2023 | +12.1% | +11.2% | +13.7% | |
| Q4 2022 | +15.5% | +12.3% | +0.5% | |
| Q3 2022 | -24.7% | -25.6% | -1.1% | |
| Q2 2022 | +12.7% | +18.3% | -5.3% | |
| Q1 2022 | -23.9% | -28.9% | -11.9% | |
| Q4 2021 | -15.7% | -11.0% | -11.1% | |
| Q3 2021 | +0.2% | -8.1% | -36.5% | |
| Q2 2021 | +3.7% | +3.4% | +20.9% | |
| Q1 2021 | -12.6% | -18.8% | -3.0% | |
| Q4 2020 | +18.9% | +13.7% | +10.0% | |
| Q3 2020 | +3.6% | +15.6% | +21.4% | |
| Q2 2020 | -3.8% | +0.6% | +15.0% | |
| Q1 2020 | +16.8% | +17.3% | +45.7% | |
| Q4 2019 | -14.1% | -11.1% | +0.1% | |
| Q3 2019 | +0.0% | -0.5% | +0.0% | |
| Q2 2019 | +0.2% | +0.2% | +0.9% | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — |
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