DraftKings Results Presentation Deck
Q1 and Current Business Highlights
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Q1 results exceeded expectations; revenue of $770M increased 84% YoY and Adjusted
EBITDA(¹) of ($222M) improved by $68M YOY
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Raising FY 2023 revenue guidance midpoint by 8% to $3,185M and FY 2023 Adjusted
EBITDA(¹) guidance midpoint by $85M to ($315M)
Expect Q2 2023 Adjusted EBITDA(¹) to be approximately break-even and expect Q4 2023
Adjusted EBITDA(1) to be nearly $150M
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Launched mobile sports betting in Ohio and Massachusetts during Q1; have acquired 7%
of adult population in Ohio and 6% of adult population in Massachusetts to-date
$1.1B of cash as of 3/31/23 and expect to have more than $800M on 12/31/23; continue
to expect positive Adjusted EBITDA(¹) in FY 2024
(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.
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