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研究快訊:DraftKings業績超乎預期;維持全年業績指引

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-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下:DKNG第一季業績穩健,營收成長17%至16.46億美元,GAAP淨利為2,110萬美元,而上年同期虧損3,390萬美元;調整後EBITDA飆升64%至1.679億美元。體育博彩業務營收成長24%至10.95億美元,淨利潤率提升140個基點至7.8%,顯示公司定價能力增強,且體育賽事結果表現良好。我們對公司持續提升獲利能力的勢頭感到欣喜,但對每月活躍用戶成長停滯以及預測市場的執行情況感到擔憂。管理層維持了2026年營收65億至69億美元、調整後EBITDA 7億至9億美元的預期,並強調將大力投資體育預測業務。受德州彩券退出影響,MUP(最低可用用戶)數量下降4%至420萬,但若不計彩券業務,則成長2%;同時,每MUP的平均收入飆升21%至131美元。公司年末現金餘額為9.994億美元,股價為2026年預期EBITDA的16倍。

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