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  "documentTitle": "DraftKings | Results Presentation Deck | 18 slides",
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  "presentationDate": "2023-02-01 00:00:00",
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      "kind": "disclaimer",
      "text": "(1) Non-GAAP financial measure. See slides 12-13 in the Appendix of this presentation for reconciliation.",
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      "text": "1. Q4 revenue was $855M and Q4 Adjusted EBITDA(1) was ($50M) or approximately $25M when adjusting out launches in Maryland and Ohio\n2. Raising FY 2023 revenue guidance midpoint to $2,950M and FY 2023 Adjusted EBITDA(1) guidance midpoint by $125M due to strong topline results, increased marketing efficiency, and focus on expense management\n3. 18 of 19 states were contribution profit(1) positive for Q4 and 11 states were contribution profit(1) positive for FY 2022; contribution profit(1) expected to grow from $105M in FY 2022 to >$500M in FY 2023\n4. Fixed expense growth is expected to slow meaningfully in FY 2023 and decelerate further in FY 2024\n5. $1.3B of cash as of 12/31/22 and expect to have >$700M on 12/31/23; expect positive Adjusted EBITDA(1) in FY 2024",
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