DraftKings Results Presentation Deck
Raising Midpoints of FY2023 Revenue Guidance by 8% and FY2023 Adj. EBITDA¹ Guidance by $85M
Revenue
Adjusted
EBITDA(1)
Updated FY 2023 Guidance vs. Prior FY 2023 Guidance
$ Millions
February 16th
FY 2023 Guidance (2)
$2,950
($400)
Higher OSB Hold
due to Structural
Improvement
$20
$15
Higher OSB Hold
due to Favorable Q1
Sport Outcomes
$20
$15
Stronger Customer
Retention & Engagement
(Including Promotions)
$195
$80
Expense Recognition
Timing (3)
(1) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation to its most directly comparable financial measure calculated in accordance with GAAP, net income (loss), please refer to the appendix of this presentation.
(2) Reflects the midpoints of FY 2023 guidance that DraftKings provided on February 16th, 2023.
(3)
Due to improved visibility into projected costs for our enhanced loyalty program, we plan to accrue $25 million of expenses throughout 2023 that we had originally planned to expense in the first quarter of 2024.
(4) Reflects the midpoints of FY 2023 guidance that DraftKings provided on May 4th, 2023.
$0
($25)
May 4th
FY 2023 Guidance (4)
$3,185
($315)
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