DraftKings Inc. (NASDAQ:DKNG) Q4 2022 Results Conference Call February 17, 2023 8:30 AM ET
Company Participants
Stanton Dodge - Chief Legal Officer
Jason Robins - Co-Founder, Chief Executive Officer and Chairman
Jason Park - Chief Financial Officer
Conference Call Participants
Shaun Kelley - Bank of America
David Katz - Jefferies
Jason Bazinet - Citi
Carlo Santarelli - Deutsche Bank
Ed Young - Morgan Stanley
Jed Kelly - Oppenheimer
Robert Fishman - MoffettNathanson
Clark Lampen - BTIG
Ben Chaiken - Credit Suisse
Michael Graham - Canaccord Genuity
Bernie McTernan - Needham & Company
Ryan Sigdahl - Craig-Hallum
Dan Politzer - Wells Fargo
Brandt Montour - Barclays
Joe Stauff - SIG
Chad Beynon - Macquarie
Robin Farley - UBS
Joe Greff - JPMorgan
Operator
Good day and thank you for standing by. Welcome to the Fourth Quarter 2022 DraftKings Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to turn the conference over to Stanton Dodge, Chief Legal Officer. Please go ahead.
Stanton Dodge
Good morning, everyone, and thanks for joining us today. Certain statements we make during this call may constitute forward-looking statements that are subject to risks, uncertainties and other factors, as discussed further in SEC filings that could cause our actual results to differ materially from our historical results or from our forecast. We assume no responsibility to update forward-looking statements, other than as required by law.
During this call, management will also discuss certain non-GAAP financial measures that we believe may be useful in evaluating DraftKings' operating performance. These measures should not be considered in isolation or as a substitute for DraftKings' financial results prepared in accordance with GAAP. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are available in our earnings presentation, which can be found on our website and in our filings with the SEC.
Hosting the call today, we have Jason Robins, Co-Founder and Chief Executive Officer of DraftKings, who will share some opening remarks and an update on our business; and Jason Park, Chief Financial Officer of DraftKings, who will provide a review of our financials. We will then open the line to questions.
I will now turn the call over to Jason Robins.
Jason Robins
Good morning and thank you all for joining. First off, I am very excited about 2023. We are more focused than ever on expense management. Since our previous earnings call in November, we have made surgical decisions backed by strong analysis about our expenses and have actioned items that totaled an expected $100 million of adjusted EBITDA relative to our prior guide.