DraftKings reports 20% revenue growth in Q1
Revenue in the first quarter reached $1.41bn.
US.- DraftKings has reported results for the first quarter of 2025, ending March 31. Revenue was $1.41bn, up 20 per cent compared to the same period in 2024. It noted “healthy customer engagement, efficient acquisition of new customers, higher structural Sportsbook hold percentage, and the impact of the acquisition of Jackpocket.”
Monthly Unique Payers (MUPs) reached 4.3 million, an increase of 28 per cent compared to the first quarter of 2024. Excluding the impact of the acquisition of Jackpocket, MUPs increased by approximately 11 per cent.
Average Revenue per MUP (ARPMUP) was $108, a 5 per cent decrease primarily due to lower ARPMUP for Jackpocket customers when compared to customers of DraftKings’ existing offerings. Excluding Jackpocket, ARPMUP increased by 7 per cent.
Jason Robins, DraftKings’ chief executive officer and co-founder said: “Recent product enhancements are driving outperformance in our core value drivers, and our customer metrics continue to be strong through an evolving macroeconomic environment. If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and Adjusted EBITDA guidance.”
Alan Ellingson, DraftKings’ chief financial officer, added: “We have a healthy balance sheet and repurchased 3.7 million shares in the first quarter under our existing stock repurchase program.”
DraftKings has revised its fiscal year 2025 revenue guidance to $6.2bn – $6.4bn, down from $6.3bn –$6.6bn. That equates to approximately 32 per cent year-over-year growth. It’s revised adjusted EBITDA guidance to $800m – $900m, down from $900m – $1bn.
