In 2024, DraftKings reported $4.8 billion in total revenue, a 30.1% increase from the previous year. Additionally, the business decreased its net loss from $802.3 million in 2023 to $507.3 million, a decrease of about $295 million.
Higher expenditures on product and technology, sales and marketing, and general administrative costs were the main causes of the company's over $650 million increase in cost of revenue. Nonetheless, DraftKings was able to improve its bottom line and offset these growing expenses thanks to the significant revenue increase.
Higher expenditures on product and technology, sales and marketing, and general administrative costs were the main causes of the company's over $650 million increase in cost of revenue. Nonetheless, DraftKings was able to improve its bottom line and offset these growing expenses thanks to the significant revenue increase.
