DraftKings just posted its Q1 2025 results, and it brought in more money than last year. The DraftKings quarterly revenue jumped to $1.41 billion. This growth came despite some unfavorable sports outcomes in March.

  • DraftKings quarterly revenue reached $1.41 billion, marking a 20% increase from Q1 2024’s $1.18 billion. The bump came from higher sportsbook hold, new user acquisition, and the May 2024 Jackpocket acquisition. Customer-friendly sports results in March slightly reduced potential upside.

  • Sportsbook handle increased 16% to $13.88 billion compared to Q1 2024. Sportsbook revenue rose 20% to $882 million, while iGaming revenue increased 15% to $423 million.
  • Monthly Unique Payers (MUPs) grew 28% year-over-year to 4.3 million in Q1 2025. Without Jackpocket, that number would still be up 11% over the prior year. Growth was attributed to strong retention and marketing across Sportsbook and iGaming.

  • Average Revenue per MUP (ARPMUP) fell 5% to $108 due to the lower spend of Jackpocket users. Without Jackpocket’s impact, ARPMUP would have risen 7% year-over-year. This shows the core DraftKings audience continues to deliver more value per user.

  • Adjusted EBITDA rose sharply to $102.6 million from just $22.4 million a year earlier. Net loss narrowed to $33.9 million from $142.6 million in Q1 2024. CEO Jason Robins noted that core product improvements are driving stronger performance.

  • The company is live with mobile sports betting in 25 states and D.C., covering 49% of the U.S. population. Its iGaming operations span five states, reaching about 11% of Americans. DraftKings is also active in Ontario, Canada, and expects to enter Missouri following voter approval in late 2024.

  • In Q1 2025, DraftKings repurchased 3.7 million shares under its buyback program. The company ended the quarter with $1.12 billion in cash and equivalents. CFO Alan Ellingson highlighted the firm’s balance sheet strength amid growth investments.

  • DraftKings revised its full-year 2025 revenue forecast down to between $6.2 and $6.4 billion. Previous guidance was $6.3 to $6.6 billion, with lower projections linked to March sports outcomes. Adjusted EBITDA guidance was also revised to $800–900 million from $900 million–$1 billion. “If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and Adjusted EBITDA guidance,” Jason Robins added.