DraftKings Reports Q4 Loss, Revenue Misses

DraftKings reported a quarterly loss of $0.28 per share for Q4 2024, missing estimates of a $0.19 loss and marking a significant year-over-year decline from a $0.10 loss. Despite this, the company achieved revenues of $1.39 billion, a 13% increase compared to the previous year, although it fell short of revenue expectations by 1.21%. The full-year revenue guidance for 2025 was raised to $6.45 billion, indicating an expected growth of 35.3%. CEO Jason Robins highlighted the company's efforts to enhance customer engagement and expand their Sportsbook offerings, while CFO Alan Ellingson noted positive Adjusted EBITDA for the first time. DraftKings shares have performed well in 2024, gaining about 22.2%, outperforming the S&P 500. The company continues to navigate a complex regulatory environment while pursuing growth opportunities in the evolving gaming market.