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DraftKings Inc (NMS: DKNG)
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As Reported Quarterly Cash Flow
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Exchange rate used is that of the Year End reported date
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Report Date9/30/20216/30/20213/31/20219/30/20206/30/20203/31/202009/30/201903/31/2019
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3rd Quarter2nd Quarter1st Quarter3rd Quarter2nd Quarter1st Quarter3rd Quarter1st Quarter
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CurrencyUSDUSDUSDUSDUSDUSDUSDUSD
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Net income (loss)-$1,196,898,000-$651,870,000-$346,344,000-$577,870,000-$230,117,000$479,4112336124-675
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Depreciation & amortization$88,600,000$58,244,000$28,193,000$49,967,000$23,372,000---
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Non-cash rent expense----$81,000---
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Non-cash interest expense$1,442,000$775,000$112,000$3,114,000$3,111,000---
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Stock-based compensation expense$499,246,000$323,582,000$151,843,000$176,362,000$59,328,000---
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Loss from equity method investment$549,000$347,000$153,000$380,000$285,000---
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Loss on remeasurement of warrant liabilities$2,905,000$9,996,000$26,980,000-----
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Deferred income taxes-$11,737,000-$9,548,000-$8,104,000-$544,000-$201,000---
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Trust income reinvested in trust account------$1,444,499-3390875-
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Prepaid expenses-----$225,906-280605-
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Accrued expenses------246085-
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Cash reserved for users---$18,014,000-$113,432,000$12,005,000---
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Receivables reserved for users$131,000$5,334,000$6,213,000-$9,271,000$4,768,000---
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Accounts receivable-$421,000-$993,000-$4,180,000-$15,427,000-$6,347,000---
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Prepaid expenses & other current assets-$19,093,000-$9,136,000-$519,000$534,000-$2,187,000---
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Deposits & other non-current assets-$4,760,000-$2,944,000-$1,527,000-$64,000$346,000---
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Operating leases, net-$1,212,000-$432,000-$239,000-----
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Accounts payable & accrued expenses$194,735,000$73,309,000$71,392,000$112,260,000$11,686,000$2,240-2408
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Other long-term liabilities-$856,000$1,883,000$2,968,000$9,229,000$4,903,000---
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Long-term income tax liability$7,789,000$3,874,000$1,522,000-----
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Liabilities to users$192,319,000$21,204,000$11,800,000$123,471,000-$16,004,000---
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Deferred offering costs--------1733
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Net cash flows from operating activities-$247,261,000-$176,375,000-$77,751,000-$241,291,000-$134,971,000-$736,942-1089271-
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Purchases of property & equipment-$11,171,000-$6,221,000-$2,389,000-$8,233,000-$3,336,000---
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Cash paid for internally developed software costs-$31,242,000-$19,489,000-$8,686,000-$18,821,000----
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Capitalization of internal-use software costs-----$11,019,000---
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Acquisition of gaming licenses-$7,563,000-$6,200,000-$305,000-$7,760,000-$7,478,000---
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Cash paid for acquisitions, net of cash acquired-$64,969,000-$64,969,000-$40,541,000-$176,819,000-$176,819,000---
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Other investing activities-$3,750,000-$3,700,000------
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Principal deposited in trust account-------400000000-
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Interest income released from trust account to pay taxes------766666-
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Cash withdrawn from trust account to pay taxes-----$403,475--
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Net cash flows from investing activities-$118,695,000-$100,579,000-$51,921,000-$211,633,000-$198,652,000$403,475-399233334-
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Proceeds from issuance of convertible notes, net$1,247,116,000$1,247,125,000$1,248,025,000-----
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Purchase of capped call options-$123,970,000-$123,970,000-$123,970,000-----
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Proceeds from shares issued for warrants$199,000$199,000$199,000-----
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Purchase of treasury stock-$14,334,000-$9,897,000-$3,124,000-----
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Cash buyout of unaccredited investors----$7,192,000-$7,192,000---
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Issuance costs related to merger recapitalization----$11,564,000-$11,564,000---
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Net proceeds from issuance of convertible promissory notes---$41,077,000$41,077,000---
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Proceeds from recapitalization of Diamond Eagle Acquisition Corp. shares, net of issuance costs
---$667,999,000$667,999,000---
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Proceeds from shares issued for warrants---$201,508,000$190,664,000---
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Proceeds from issuance of class A common stock, net of issuance costs---$620,800,000$620,800,000---
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Proceeds from exercise of stock options$25,118,000$18,454,000$7,638,000$10,062,000$6,066,000---
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Net payment of revolving credit line----$6,750,000-$6,750,000---
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Proceeds from private placement of warrants------9500001-
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Proceeds from sale of class A ordinary shares------400000000-
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Payment of underwriters' discount-------8000000-
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Payment of offering costs-------306545-
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Net cash flows from financing activities$1,134,129,000$1,131,911,000$1,128,768,000$1,515,940,000$1,501,100,000-401193456-
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Effect of foreign exchange rates on cash & cash equivalents & restricted cash
$1,884,000$824,000------
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Effect of foreign exchange rates on cash & cash equivalents--$1,774,000-----
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Effect of foreign exchange rates on cash & cash equivalents---$1,358,000$256,000---
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Net increase (decrease) in cash & cash equivalents & restricted cash$770,057,000$855,781,000$1,000,870,000$1,064,374,000$1,167,733,000-$333,467870851-
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Cash & cash equivalents & restricted cash at the beginning of period$2,104,976,000$2,104,976,000------
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Cash & cash equivalents & restricted cash, end of period$2,875,033,000$2,960,757,000------
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Cash & cash equivalents, beginning of period--$1,817,258,000$76,533,000$76,533,000$491,225--
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Cash & cash equivalents, end of period--$2,818,128,000$1,140,907,000$1,244,266,000$157,758870851-
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Cash paid for interest---$417,000$417,000---
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Income taxes paid------766666-
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