DraftKings Inc Q3 2023 Earnings Call Summary - Thomson StreetEvents

DraftKings Inc Q3 2023 Earnings Call Summary

DraftKings Inc Q3 2023 Earnings Call Summary - Thomson StreetEvents
DraftKings Inc Q3 2023 Earnings Call Summary
Published Nov 03, 2023
20 pages (11959 words) — Published Nov 03, 2023
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Abstract:

Edited Brief of DKNG.OQ earnings conference call or presentation 3-Nov-23 12:30pm GMT

  
Brief Excerpt:

...A. Revenue and adjusted EBITDA exceeded our expectations, and our momentum continued into the fourth quarter with the start of the basketball and hockey seasons. B. We are raising our expectations for fiscal year 2023 and introducing initial guidance for fiscal year 2024. C. In 2024, we expect revenue of $4.5 billion to $4.8 billion and positive adjusted EBITDA of $350 million to $450 million. D. We also expect to generate meaningfully positive free cash flow in fiscal year 2024. E. Our revenue in the quarter increased 57% year-over-year, and we achieved #1 combined OSB and iGaming gross gaming revenue share in the U.S. We've efficiently added over 1,000 basis points of combined OSB and iGaming shares since the second quarter of 2022, which we are very proud of. F. Third, our older states are generating significant contribution profit, and newer states are generating positive contribution profit faster than previous states. G. Fourth, we expect attractive adjusted EBITDA flow-through percentage...

  
Report Type:

Brief

Source:
Company:
DraftKings Inc
Ticker
Time
12:30pm GMT
Format:
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Cite this Report

  
MLA:
Thomson StreetEvents. "DraftKings Inc Q3 2023 Earnings Call Summary" Nov 03, 2023. Alacra Store. May 18, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2023-DraftKings-Inc-Earnings-Call-B15772621>
  
APA:
Thomson StreetEvents. (2023). DraftKings Inc Q3 2023 Earnings Call Summary Nov 03, 2023. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2023-DraftKings-Inc-Earnings-Call-B15772621>
  
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