DraftKings Results Presentation Deck
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP
OPERATING EXPENSES
($ in millions)
GAAP Operating Expenses
Cost of Revenue
Sales and Marketing
General and Administrative
Product and Technology
Total GAAP Operating Expenses
Pro-Forma Operating Expense Adjustments
Cost of Revenue
Sales and Marketing
General and Administrative
Product and Technology
Total Pro-Forma Operating Expense Adjustments
Non-GAAP Operating Expense Adjustments
Cost of Revenue
Sales and Marketing
General and Administrative
Product and Technology
Total Non-GAAP Operating Expense Adjustments
Adjusted Pro-Forma Operating Expenses
Cost of Revenue
Sales and Marketing
General and Administrative
Product and Technology
Total Adjusted Operating Expenses
(a)
(b)
(d)
(a)
(d)
(a)
(c)
(d)
(e)
(f)
(a)
(d)
31-Dec-20
$159
$192
$173
$66
$591
($1)
($18)
($6)
($7)
($0)
($116)
($2)
($1)
($1)
($1)
($25)
($2)
($180)
$134
$184
$52
$39
$410
30-Sep-20
$97
$203
$127
$54
$481
($0)
($19)
($6)
($12)
($0)
($83)
($4)
($1)
($2)
($2)
($22)
($1)
($151)
$72
$191
$36
$31
$330
30-Jun-20
$47
$46
$107(1)
$31
$231
$6
$1
$9
$6
$22
($0)
($18)
($4)
($3)
($0)
($54)
($25)(1)
($1)
($2)
($3)
($8)
($1)
($119)
$32
$43
$33
$27
$135
31-Mar-20
$43
$54
$39(1)
$18
$155
$25
$4
$5
$12
$46
($18)
($4)
($0)
($0)
($4)
($6)(1)
($1)
($1)
($0)
($0)
($1)
($35)
$47
$57
$33
$28
$165
31-Dec-19
$39
$60
$47(1)
$16
$163
$26
$2
$5
$12
$46
($17)
($4)
($0)
$0
($8)
($8)(1)
($1)
($1)
($1)
($1)
($1)
($41)
$45
$63
$34
$27
$168
30-Sep-19
$25
$58
$25(1)
$14
$123
$24
$1
$3
$10
$38
($18)
($2)
($0)
($1)
($2)
($1)(1)
$1
($1)
($0)
($0)
($2)
($26)
$29
$59
$24
$22
$134
30-Jun-19
$18
$30
$26(1)
$12
$86
$24
$2
$4
$9
$39
($18)
($2)
($0)
($0)
($2)
($1)(1)
($0)
($1)
($0)
($0)
($1)
($26)
$22
$31
$25
$20
$99
31-Mar-19
$22
$37
$27
$13
$98
$24
$4
$3
$9
$40
($18)
($2)
($0)
($0)
($4)
($1)
($1)
($1)
($1)
($0)
($29)
$25
$40
$23
$21
$110
(a)
Stock-based compensation
expense
(b)
Amortization of acquired
intangible assets
(c) Transaction expenses
(d) Depreciation & Amortization
(e) Litigation
(f) Other
(1) Pursuant to the principles of Article 11 of Regulation S-X, the transaction costs related to the Business Combination have been eliminated in calculating our Pro-Forma Operating
Expenses in Proforma Adjusted EBITDA tables in our 10K for the twelve months ended December 31, 2020. These costs were approximately $31mm for the twelve months ended
December 31, 2020 and are included in our GAAP Operating Expenses on this page.
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