NASDAQ$DKNG
Draftkings Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
DraftKings reported a revenue increase of 44% compared to the same period in 2022, driven by customer engagement and product innovation.
DraftKings reported a Q4 2023 revenue of $1,231 million, a 44% increase compared to Q4 2022. The company is raising its fiscal year 2024 revenue guidance to a midpoint of $4.775 billion and Adjusted EBITDA guidance to a midpoint of $460 million.
- Revenue for Q4 2023 reached $1,231 million, a 44% increase year-over-year.
- Monthly Unique Payers (MUPs) increased by 37% to 3.5 million in Q4 2023.
- Average Revenue per MUP (ARPMUP) was $116 in Q4 2023, a 6% increase year-over-year.
- The company is raising its fiscal year 2024 revenue and Adjusted EBITDA guidance.
Headline financials
Revenue & EPS history
DraftKings · Revenue · Quarterly
$1.23B
Forward guidance
DraftKings is raising its fiscal year 2024 revenue guidance to a range of $4.65 billion to $4.90 billion and expects Adjusted EBITDA to be between $410 million and $510 million.
Tailwinds
- Fiscal year 2024 revenue guidance raised to $4.65 billion to $4.90 billion.
- Fiscal year 2024 Adjusted EBITDA guidance increased to $410 million to $510 million.
- Guidance includes mobile sports betting in Puerto Rico and North Carolina.
- North Carolina sportsbook product launch expected on March 11, 2024.
- Strong underlying fundamentals through the first six weeks of 2024.
Headwinds
- Guidance excludes the estimated impact of the proposed acquisition of Jackpocket.
- Customer-friendly sport outcomes impacted revenue and Adjusted EBITDA in Q4 2023 by approximately ($175) million and approximately ($126) million, respectively.
- Mobile sports betting and iGaming legalization efforts are still pending in several states.
- The company cannot provide any assurance that it can predict all of the components of the Adjusted EBITDA calculation.
- Forward-looking statements involve a number of known and unknown risks, uncertainties, assumptions and other important factors.
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 Q4 2023
+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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