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DraftKings Inc. (DKNG+0.64%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details DraftKings' revenue of $4.77 billion for 2024, an increase from $3.67 billion in 2023, primarily driven by its Sportsbook and iGaming product offerings.
The company reported a net loss of $507.3 million for the year, an improvement from a net loss of $802.1 million in 2023.
DraftKings' average monthly unique payers (MUPs) increased to 3.7 million in 2024 from 2.7 million in 2023, while average revenue per MUP (ARPMUP) decreased to $106 from $113.
The company's Sportsbook handle was $48.1 billion, with a Sportsbook net revenue margin of 6.0%, up from 5.6% in the previous year.
DraftKings completed acquisitions of Jackpocket Inc. and Simplebet Inc. in 2024, expanding its digital lottery courier and in-play micromarket content offerings.
The company reported Adjusted EBITDA of $181.3 million, compared to a negative Adjusted EBITDA of $151.0 million in 2023.
DraftKings highlighted its focus on expanding product offerings, launching in new jurisdictions, and improving profitability through increased revenue and gross profit.
The company operates its Sportsbook product in 26 jurisdictions, including new launches in Vermont, North Carolina, and Washington, D.C. in 2024.
DraftKings' cash and cash equivalents totaled $788.3 million as of December 31, 2024, with a revolving credit facility of up to $500.0 million available.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DraftKings Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.