DraftKings 2021 Q2 report 320 year-on-year revenue growth
DraftKings has announced its second quarter 2021 financial results
DraftKings has proclaimed its indorsement quarter 2021 financial results. Reported revenue of $298m was achieved, increasing its 2021 revenue guidance from $1.21bn to $1.29bn.
The Q2 describe illustrates its highlights for the troika months finish 30 June 2021; the reported revenue of $298m was an step-up of 320% compared to $71m during the same period in 2020. For its Q2 report, DraftKings discussed the forward motion it made inwards impulsive back-end migration, precondition the software program firms it has acquired inwards recent years. It also late announced plans to set in motion the DraftKings Marketplace.
Jason Robins, DraftKings’ Co-founder, CEO and Chairman of the Board, said: “DraftKings had a specially warm endorsement canton of 2021, maintaining our telling financial execution while also forward-moving into new areas, such as media and NFTs. We believe these elaboration opportunities testament enable us to farther develop our customer humble and generate additional revenues through cross-selling to our existing players.
“We also are excited that the migration to our proprietary in-house online sports betting technology is substantially complete, with only when ace body politic remaining pending approval.”
One main high spot for the indorse quarter was Genius Sports and DraftKings' multi-year sports information supplier agreement. The trade gave DraftKings access code to Genius Sports’ full portfolio of planetary sports information and content, including official NFL information and content, participant acquisition and keeping solutions.
"Our customers are at the forefront of all we fare and we are always workings to better their experience and our products," said Ezra Kucharz, CBO at DraftKings.
DraftKings raised its revenue direction from the ranges of $1.05bn to $1.15bn, to $1.21bn and $1.29bn for the fiscal year 2021. This equates to a year-on-year growth of 88% to 100%, with a 14% hike on what was antecedently projected. Other Q2 highlights for DraftKings make been its nomadic sports betting and iGaming footprint, beingness live with online sports betting inward 12 states (representing 25% of the US population and iGaming in quadruplet states, and representing 10% of the US population).
Six states have already authorised mobile sports wagering this year, these include: Arizona, Connecticut, Louisiana, Maryland, New York and Wyoming. This represents 13% of the population, bringing the boilersuit percentage with legalised mobile sports betting to 39%. In addition to these states, Connecticut has also authorised iGaming.
Jason Park, DraftKings’ CFO, added: “We also are excited that the migration to our proprietary in-house online sports betting engineering is substantially complete, with only when i province remaining pending approval.
“We delivered warm development inwards unexampled customers and revenue. Additionally, we grew monthly unique payers by 281% and average out revenue per monthly unique remunerator past 26%. We are once more rearing our revenue outlook for 2021 as we uphold to expect robust growth inward the states where we are currently live today”