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DraftKings Inc.

DKNG Consumer Cyclical Gambling

DraftKings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.1 billion, up 27.0% from fiscal 2024. In the quarter to June 2026, revenue fell 4.58%, EPS fell 143.8%, free cash flow fell 51.6% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.

20.88 0.16 +0.77%
Market cap
$18.4B
P/E
0.0×
Fwd P/E
−493×
Dividend yield
—
F-score
7/9
Altman Z
1.98
Beneish M
−2.60
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

DraftKings Inc. (DKNG) Earnings & Analysis

Updated · Covers results through Q2 FY2026 · How this is made

Latest quarter

DraftKings reported Q2 FY2026 revenue of $1.4 billion, down −4.58% from Q2 FY2025. The company’s revenue, as the consensus counts it, was $1.4 billion against consensus revenue of $1.5 billion, or −3.84% against the consensus. DraftKings reported diluted EPS of −$0.14, compared with $0.30 a year earlier.

The filing said lower Sports revenue, including Sportsbook and Prediction Markets, drove the revenue decline, citing customer-friendly sports outcomes and increased promotional reinvestment for customer acquisition. It said iGaming revenue increased because of improved promotional reinvestment. DraftKings reported gross margin of 38.2%, down −5.3 percentage points year over year, while operating margin was −4.72%, down −14.7 percentage points. The filing attributed higher cost of revenue partly to gaming-tax increases in certain states, while sales and marketing expense rose with external marketing and acquisition costs. DraftKings generated free cash flow of $66.9 million, down −51.6% from Q2 FY2025.

Q2 FY2026 Q2 FY2025 Change
Revenue $1.4 billion $1.5 billion −4.58%
Diluted EPS −$0.14 $0.30 −146.7%
Gross margin 38.2% 43.5% −5.3 percentage points
Operating margin −4.72% 9.96% −14.7 percentage points
Free cash flow $66.9 million $138.2 million −51.6%
Against the consensus Reported Consensus Result
Revenue $1.4 billion $1.5 billion Missed by 3.84%

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

DraftKings did not provide a latest earnings-call transcript for management commentary.

Guidance

DraftKings maintained its FY2026 revenue guidance of $6.5 billion to $6.9 billion and its FY2026 Adjusted EBITDA guidance of $700.0 million to $900.0 million. Alan Ellingson said the company’s core business remained on track to generate approximately $1.0 billion of Adjusted EBITDA in FY2026.

Metric For Guide Previous guide Change
EBITDA, non-GAAP FY2026 $700.0 million–$900.0 million — New
Revenue FY2026 $6.5 billion–$6.9 billion — New
EBITDA, Core Business Non Gaap FY2026 $1.0 billion — New

This page is for information only. It is not investment advice, a recommendation or an offer to buy or sell any security. Figures come from the sources listed above and may contain errors; verify against the company's filings.