DraftKings Inc. announced fourth-quarter 2024 revenue of $1,393 million, an increase of 13% year-over-year, contributing to a full fiscal year 2024 revenue of $4.77 billion. The company achieved its first full year of positive Adjusted EBITDA, marking a significant milestone in its path to profitability.
The revenue growth was driven by continued healthy customer engagement, efficient new customer acquisition, expansion of its Sportsbook offerings, a higher structural sportsbook hold percentage, and the impact of the Jackpocket acquisition. These positive factors were partially offset by customer-friendly sport outcomes during the NFL season.
For fiscal year 2025, DraftKings raised the midpoint of its revenue guidance to $6.45 billion from $6.4 billion and reaffirmed its Adjusted EBITDA guidance range of $900 million to $1.0 billion. The company also authorized and initiated a $1 billion share repurchase program, underscoring management's confidence in future free cash flow generation and commitment to shareholder returns.
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