DraftKings reveals 2024 fiscal year numbers
DraftKings reported over $1.3 billion in revenue for the final quarter of the 2024 fiscal year. DraftKings posted the results for the full 2024 fiscal year and Q4.
“We continued to efficiently acquire and engage customers, expand structural sportsbook hold percentage and optimize promotional reinvestment in fiscal year 2024, while we simultaneously experienced customer-friendly sport outcomes,” DraftKings chief executive officer Jason Robins said. DraftKings is one of the latest betting sites to post its 2024 fiscal year report.
Revenue rose by $162 million in Q4 2024 compared to Q4 of 2023, according to the report. Revenue for the entire fiscal year was over $4.7 billion. Monthly unique players increased by 36 per cent compared to the previous year. The number of monthly unique players was 4.8 million in Q4 2024. These numbers include DraftKings’ acquisition of Jackpocket Inc. Without Jackpocket which closed in May of 2024, monthly unique players increased by about 16 per cent.
About DraftKings and plans for 2025
Average revenue for monthly unique players was $97 in Q4 2024, down 16 per cent compared to last year. Average revenue per monthly unique players decreased by 4 per cent without Jackpocket. “Looking ahead to 2025 and beyond, I am excited to further enhance our customer economics through new initiatives such as extending our lead in live betting and advancing cross sell efforts to and from new verticals. Our focus remains on driving sustainable growth in revenue and profitability,” Robins said.
DraftKings chief financial officer Alan Ellingson commented on 2024 and plans for 2025. “2024 was a milestone year for DraftKings as we achieved our first year of positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization). Additionally, we began executing on our inaugural share repurchase authorization,” Ellingson said.
“With strong underlying health across our core value drivers, we are raising the midpoint of our fiscal year 2025 revenue guidance to $6.45 billion from $6.4 billion and reaffirming our fiscal year 2025 adjusted EBITDA guidance range of $900 million to $1.0 billion.” Totals in this report may not be completely accurate due to rounding.
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