DraftKings (DKNG) Company Report

DraftKings and ESPN announced plans for account linking between the DraftKings Sportsbook and ESPN platforms, set to launch before the March Madness tournaments.
This collaboration will introduce exclusive, personalized features such as "Bet Your Bracket," offering tailored betting experiences based on ESPN Tournament Challenge picks.
The initiative is a strategic step towards DraftKings' goal of creating a more seamless and connected Super App for sports fans, enhancing engagement and cross-platform activity.
Customers who link their accounts will receive one free month of ESPN Unlimited.

2 hours ago

Press Release

DraftKings outlines strategic vision and financial targets at Investor Day

DKNG

Product Launch

New Projects/Investments

Guidance Update

DraftKings reported $6 billion in revenue and $620 million in Adjusted EBITDA for the last year (implied FY 2025), with $2.7 billion in gross profit.
The company is launching a "Super App" to unify its Sportsbook, Predictions, Casino, and Lottery products, aiming for nationwide availability and anticipating the Predictions product alone could represent a $10 billion annual gross revenue opportunity.
DraftKings expects to achieve 30%+ Adjusted EBITDA margin over time, with AI presenting additional upside, and projects the Total Addressable Market (TAM) to reach $55 billion-$80 billion by 2030.
AI is a key force multiplier, contributing to an estimated $45 million of annualized gross revenue uplift from ML shaders implemented in the second half of 2025 and into 2026, and automating $400 million of promotional spend in 2025.

4 days ago

Transcript

DraftKings Outlines Growth Strategy and Financial Targets at 2026 Investor Day

DKNG

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

DraftKings reported $6 billion in revenue and $620 million in Adjusted EBITDA last year, with Adjusted gross profit tripling over the last three years. The company projects a 30%+ long-term Adjusted EBITDA margin.
The company is launching a "Super App" to unify its Sportsbook, Predictions, Casino, and Lottery products, aiming to expand its national offering and leverage its marketing footprint across 11 million customers.
DraftKings views its Predictions product as a $10 billion annual gross revenue opportunity, supported by vertical integration, a new market-making division, and AI/machine learning, which is already contributing to $45 million in annualized gross revenue uplift.
Operational efficiencies have significantly improved financial metrics, including an 800 basis point reduction in processing platform and revenue share costs of revenue from 2021 to 2025, and an increase in Sportsbook net revenue margin from 3.2% in 2021 to over 7% in 2025.

4 days ago

Transcript

DraftKings Outlines Growth Strategy and Financial Targets at Investor Day 2026

DKNG

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

DraftKings reported $6 billion in revenue and $620 million in Adjusted EBITDA for the last year (2025).
The company projects its total addressable market (TAM) to reach $55 billion-$80 billion by 2030 and aims for 30%+ Adjusted EBITDA margins over time.
A new predictions app is expected to generate a $10 billion annual gross revenue opportunity and achieve 10%-30% higher adjusted gross margins than Sportsbook.
Operational efficiencies in 2025 included a 40% reduction in cumulative customer acquisition cost (CAC) from its 2020 peak and $40 million in savings from processing expense optimization.
AI is a significant force multiplier, contributing to an estimated $45 million in annualized gross revenue uplift from ML shaders in H2 2025 and 2026, and improving engineering productivity by 40% year-over-year.

4 days ago

Transcript

DraftKings Unveils Super App and Projects Significant Market Opportunity

DKNG

Product Launch

New Projects/Investments

Guidance Update

DraftKings unveiled a unified "DraftKings Sports & Casino" Super App at its March 2, 2026 investor day, combining sportsbook, casino, daily fantasy, DraftKings Predictions, and Jackpocket iLottery into a one-wallet, one-window experience, with phase one slated by March Madness and additional upgrades through 2026.
Management projects DraftKings Predictions could represent a $10 billion annual gross revenue opportunity with adjusted gross margins 10–30% higher than the sportsbook.
The company estimates a broader North American gross revenue opportunity of $55–$80 billion through 2030 as legalization expands.
To capture this upside, DraftKings plans vertical integration and increased AI deployment to improve efficiency, optimize unit economics, and reduce customer acquisition costs.

4 days ago

Morningstar

DraftKings Outlines Expanded Growth Strategy and Plans Super App Launch

DKNG

Guidance Update

Product Launch

New Projects/Investments

DraftKings outlined an expanded growth strategy and long-term financial framework, anticipating a $55 billion to $80 billion 2030 industry gross revenue opportunity.
The company plans to launch a new Super App, "DraftKings Sports & Casino", integrating Sportsbook, Predictions, Casino, and Lottery, with phase one expected by March Madness.
DraftKings expects to achieve at least a 30% Adjusted EBITDA margin in the long term.
The company is increasing the deployment of AI across its platform to drive efficiency and operating leverage.

4 days ago

Press Release

DraftKings Secures Arkansas Online Sportsbook License

DKNG

Product Launch

New Projects/Investments

DraftKings Inc. has secured a license from the Arkansas Racing Commission to launch its online sportsbook in Arkansas, on behalf of Southland Casino Hotel, pending final regulatory approvals.
This expansion increases DraftKings Sportsbook's product coverage to 53% of the U.S. population.
Arkansas will be the 30th U.S. state where DraftKings operates regulated sports betting, in addition to Washington, D.C., Ontario, Canada, and Puerto Rico.

8 days ago

Press Release

DraftKings Launches Online Sportsbook in Puerto Rico

DKNG

Product Launch

New Projects/Investments

DraftKings launched its online sportsbook in Puerto Rico for residents on February 23, 2026.
Eligible local users are required to register and verify their accounts in person at the Foxwoods El San Juan Casino before they can place mobile bets anywhere on the island.
This launch intensifies competition in Puerto Rico's sports-betting market and expands DraftKings' mobile and retail sports betting footprint to 29 U.S. states plus Washington, D.C., Puerto Rico and Ontario.

Feb 23, 2026, 6:44 PM

Morningstar

DraftKings Announces Strong Q4 and Full-Year 2025 Results with Positive Net Income and Provides 2026 Guidance

DKNG

Earnings

Guidance Update

Revenue Acceleration/Inflection

DraftKings reported strong Q4 2025 revenue of nearly $2 billion, a 43% increase year-over-year, and Adjusted EBITDA of $343 million, which was four times the prior-year period.
For full-year 2025, revenue grew 27% year-over-year to over $6 billion, with Adjusted EBITDA exceeding $600 million (more than three times the prior-year period) and the company achieving positive net income.
The company provided FY 2026 guidance, expecting revenue between $6.5 billion and $6.9 billion and Adjusted EBITDA between $700 million and $900 million.
In Q4 2025, Sportsbook Revenue reached $1,351 million and iGaming Revenue was $500 million. Additionally, Adjusted Diluted EPS for Q4 2025 was $0.36.

Feb 13, 2026, 1:30 PM

Presentation

DraftKings Reports Record Q4 and FY 2025 Results, Issues Strong 2026 Guidance, and Accelerates Predictions Market Investment

DKNG

Earnings

Guidance Update

New Projects/Investments

DraftKings closed 2025 with record fourth-quarter revenue of nearly $2 billion, a 43% year-over-year increase, and Adjusted EBITDA of $343 million, which was four times the prior year period.
For fiscal year 2025, the company achieved revenue above $6 billion, representing 27% year-over-year growth, and Adjusted EBITDA more than tripled to over $600 million, while also reporting positive net income for the first time.
The company repurchased 8 million shares during Q4 2025 and a total of 16 million shares for the full fiscal year 2025.
DraftKings provided fiscal year 2026 guidance, projecting revenue between $6.5 billion and $6.9 billion and Adjusted EBITDA between $700 million and $900 million.
The company is significantly increasing its focus on the predictions market, viewing it as a major growth opportunity, and plans to invest tens of millions in fixed costs and incremental marketing for this new vertical in 2026.

Feb 13, 2026, 1:30 PM

Transcript

Fintool News

In-depth analysis and coverage of DraftKings.

Corporate

DraftKings Cuts Jobs as Prediction Markets Threaten Sports Betting Dominance

Feb 24

Corporate

DraftKings' SPAC Founder Drops $2.2M on Stock Near Yearly Low

Feb 19

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Earnings Transcripts

Quarterly earnings call transcripts for DraftKings.

Q4 2025

Feb 13, 2026

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Q3 2025

Nov 7, 2025

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Q2 2025

Aug 7, 2025

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DraftKings (DKNG)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Executives

Jason Robins

Alan Ellingson

Erik Bradbury

Matthew Kalish

Paul Liberman

R. Stanton Dodge

Board Members

Gregory W. Wendt

Harry Evans Sloan

Jocelyn Moore

Marni M. Walden

Ryan R. Moore

Steven J. Murray

Valerie Mosley

Woodrow Levin

Analyst Coverage

Brandt Montour

David Katz

Robin Farley

Stephen Grambling

Jed Kelly

Robert Fishman

Jordan Bender

Benjamin Miller

Clark Lampen

Joseph Stauff

Shaun Kelley

Ben Chaiken

Benjamin Chaiken

Bernard McTernan

Daniel Politzer

Barry Jonas

Dan Politzer

Ryan Sigdahl

Brian Pitz

Carlo Santarelli

Clark Lampin

Eric Sheridan

Ian Moore

Jason Tilchen

Joe Stauff

Patrick Keough

Sean Kelly

Trey Bowers

William Lampen

Ben Chaikin

Bernie McTurna

Chad Beynon

Dan Paletzer

Jeffrey Stantial

Joseph Greff

Michael Graham

Robert Fishman

Steven Sheeckutz

Latest news

Fintool News

DraftKings Cuts Jobs as Prediction Markets Threaten Sports Betting Dominance

DraftKings' SPAC Founder Drops $2.2M on Stock Near Yearly Low

Earnings Transcripts

Q4 2025

Q3 2025

Q2 2025

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