DraftKings Q3 Pro Forma Revenue Up 42%; Raises Guidance - Quick Facts

(RTTNews) - DraftKings Inc. (DKNG) reported third quarter revenue of $133 million, an increase of 98% compared to $67 million, a year ago. After giving pro forma effect to the business combination with SBTech and Diamond Eagle, as if it had occurred on January 1, 2019, revenue grew 42%.

The company increased its fiscal 2020 pro forma revenue guidance to a range of $540 to $560 million from a range of $500 to $540 million, which equates to year-over-year pro forma revenue growth of 25% to 30%.

DraftKings introduced 2021 revenue guidance of $750 million to $850 million, which equates to 45% year-over-year growth based on the mid-points of the 2020 pro forma revenue guidance range.