Many companies are bracing for a recession this year, and one looks to be coming, with gross domestic product up just 1.1% in the first quarter of 2023, below expectations. But that doesn't mean all businesses are going to be struggling.

DraftKings (DKNG 1.99%) and DexCom (DXCM -1.30%) are projecting their top lines to rise by 20% or more this year. What's behind their strong prospects, and are these stocks worth buying right now?

1. DraftKings

Sports betting has been growing in recent years as the government has lifted the ban on it and more states have legalized it. And one company that is benefiting from that trend is gambling and entertainment company DraftKings, which allows people to place bets through its sports book (where it's legal to do so) and lets fans play fantasy sports.

In 2022, the company experienced significant revenue growth with sales of $2.2 billion rising an impressive 73% year over year. While that fast rate is likely to come down, DraftKings still projects sales to rise to $2.95 billion this year, which would be an increase of 32%.

Management is particularly bullish on mobile sports betting and gambling, noting that there is legislation in the works that could legalize iGambling in five states that account for 14% of the population. Currently, its mobile sports-betting business is live in 20 states, reaching 42% of the population.

Recession or not, DraftKings should experience growth this year simply by taking advantage of new markets opening up and benefiting from the industry's early growth stages. And with sports betting, consumers have a lot of flexibility in deciding how much to wager; there's no large purchase required. That can draw in bettors and keep sales strong for DraftKings, even during a downturn in the economy.

But there is still risk since the company incurred a $1.4 billion loss last year. And so even if you're excited with the prospects, you might need to consider whether you're willing to hang on for what could be a bumpy ride for this unprofitable business, as it could take years before it gets out of the red. DraftKings is a good growth stock, but it might not be suitable for every investor.

2. DexCom

DexCom makes continuous glucose monitors (CGMs), which help people with diabetes manage their condition. As the number of diabetics continues to rise, there's a growing need for the company's CGMs, which ensures that prospects remain strong in the long term. The company recently launched its most recent iteration, the Dexcom G7, which promises to be its most accurate device yet. 

The company has been off to a good start in 2023 with sales of about $742 million for the first three months of the year, up 19% on an organic basis. And DexCom projects that 2023 revenue could rise to more than $3.5 billion, a growth rate as high as 21%.

Since diabetes is a chronic condition that requires constant care and monitoring, DexCom's business could be more resilient than most during a recession. The company is a bit of a safer buy than DraftKings in that its business is already profitable. Last year, the healthcare company reported net income of $341 million on revenue of $2.9 billion, for a net profit margin of a little under 12%.

DexCom isn't a cheap stock, trading at close to 150 times trailing earnings. But for long-term investors, it still provides lots of good value. Its CGMs are growing in popularity, and they fill a big need. Meanwhile, DexCom's financials should improve, bringing its price-to-earnings multiple down in the process.