DraftKings (NASDAQ:DKNG) Full Year 2024 Results
Key Financial Results
- Revenue: US$4.77b (up 30% from FY 2023).
- Net loss: US$507.3m (loss narrowed by 37% from FY 2023).
- US$1.05 loss per share (improved from US$1.73 loss in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
DraftKings EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%.
In the last 12 months, the only revenue segment was Business-To-Consumer (B2C) contributing US$4.77b. Notably, cost of sales worth US$2.95b amounted to 62% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to US$1.26b (52% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$101.7m. Explore how DKNG's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in the US.
Performance of the American Hospitality industry.
The company's shares are up 27% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on DraftKings' balance sheet health.
Valuation is complex, but we're here to simplify it.
Discover if DraftKings might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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