DraftKings Inc
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
DKNG$19.36+3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash Flows from Operating Activities: | |||
| Net loss attributable to common shareholders | $(507,285) | $(802,142) | $(1,377,987) |
| Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities: | |||
| Depreciation and amortization | 270,854 | 201,920 | 169,252 |
| Non-cash interest (income) expense, net | (15) | 386 | 870 |
| Stock-based compensation | 381,367 | 398,463 | 578,799 |
| Loss (gain) on remeasurement of warrant liabilities | 4,945 | 57,543 | (29,396) |
| Loss from equity method investment | 468 | 719 | 2,895 |
| Loss (gain) on marketable equity securities and other financial assets, net | 12,940 | 75 | (10,999) |
| Loss on sale of Vegas Sports Information Network, LLC | 5,865 | — | — |
| Deferred income taxes | (92,733) | 5,849 | (73,407) |
| Other expenses (income), net | 6,280 | 554 | (7,268) |
| Change in operating assets and liabilities, net of effect of acquisitions: | |||
| Receivables reserved for users | 248,320 | (141,687) | (105,320) |
| Accounts receivable | (10,116) | 3,558 | 2,506 |
| Prepaid expenses and other current assets | (26,266) | 2,451 | (26,217) |
| Deposits and other non-current assets | 1,701 | (19,355) | (4,921) |
| Operating leases, net | 130 | 6,558 | 1,304 |
| Accounts payable and accrued expenses | (18,200) | 103,593 | 95,269 |
| Liabilities to users | 110,678 | 165,725 | 152,985 |
| Long-term income tax liability | 3,565 | 2,952 | (9,267) |
| Other long-term liabilities | 25,269 | 11,087 | 15,383 |
| Net cash flows provided by (used in) operating activities | 417,767 | (1,751) | (625,519) |
| Cash Flows from Investing Activities: | |||
| Purchases of property and equipment | (10,176) | (20,902) | (32,402) |
| Cash paid for internally developed software costs | (95,698) | (80,378) | (64,030) |
| Acquisition of gaming licenses | (14,983) | (12,105) | (7,213) |
| Proceeds from marketable equity securities and other financial assets | — | 24,425 | — |
| Cash paid for acquisitions, net of cash acquired | (441,487) | — | (96,507) |
| Other investing activities, net | (4,257) | (1,400) | (8,614) |
| Net cash flows used in investing activities | (566,601) | (90,360) | (208,766) |
| Cash Flow from Financing Activities: | |||
| Proceeds from exercise of warrants | — | 288 | 44 |
| Purchase of treasury stock for RSU withholding | (102,897) | (80,049) | (25,519) |
| Purchase of treasury stock under Stock Repurchase Program | (48,067) | — | — |
| Proceeds from exercise of stock options | 9,165 | 16,540 | 8,743 |
| Other financing activities | (2,667) | — | — |
| Net cash flows used in financing activities | (144,466) | (63,221) | (16,732) |
| Net decrease in cash and cash equivalents, restricted cash, and cash reserved for users | (293,300) | (155,332) | (851,017) |
| Cash and cash equivalents, restricted cash, and cash reserved for users at the beginning of period | 1,623,493 | 1,778,825 | 2,629,842 |
| Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period | $1,330,193 | $1,623,493 | $1,778,825 |
| Disclosure of cash and cash equivalents, restricted cash, and cash reserved for users | |||
| Cash and cash equivalents | $788,287 | $1,270,503 | $1,309,172 |
| Restricted cash | 16,499 | 11,700 | — |
| Cash reserved for users | 525,407 | 341,290 | 469,653 |
| Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period | $1,330,193 | $1,623,493 | $1,778,825 |
| Supplemental Disclosure of Noncash Investing and Financing Activities: | |||
|---|---|---|---|
| Investing activities included in accounts payable and accrued expenses | 3,462 | 569 | 9,155 |
| Equity consideration issued in connection with acquisitions | 376,702 | — | 460,128 |
| Fair value of contingent consideration in connection with acquisitions | 77,965 | — | — |
| Decrease of warrant liabilities from cashless exercise of warrants | 46,484 | 4,654 | — |
| Supplemental Disclosure of Cash Activities: | |||
| Increase (decrease) in cash reserved for users | 184,117 | (128,363) | (7,297) |
| Cash paid for income taxes | 5,268 | 8,341 | 10,366 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.