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DraftKings Inc.

DraftKings Inc.

NASDAQ•DKNG
CEO: Mr. Jason D. Robins
Sector: Consumer Cyclical
Industry: Gambling, Resorts & Casinos
Listing Date: 2019-07-25
DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators. In addition, it offers DraftKings marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. The company was founded in 2012 and is headquartered in Boston, Massachusetts.
Contact Information
222 Berkeley Street, 5th Floor, Boston, MA, 02116, United States
617-986-6744
www.draftkings.com
Market Cap
$16.24B
P/E (TTM)
-60.5
15.5
Dividend Yield
--
52W High
$53.61
52W Low
$26.23
52W Range
23%
Rank53Top 76.1%
2.8
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 2.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2025

Financial Dashboard

Q3 2025 Data

Revenue

$1.14B+4.43%
4-Quarter Trend

EPS

-$0.52-13.83%
4-Quarter Trend

FCF

$247.92M+143.61%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue and Profitability Surge Nine-month revenue reached $4.07B, up 20.5%. Adjusted EBITDA hit $276.8M, significantly improving from $91.9M last year.
Strong Cash Flow Generation Operating cash flow provided $342.4M for nine months, a $249.8M increase versus prior year period. Liquidity remains sufficient.
Sportsbook Handle Growth Sportsbook Handle increased 10.9% to $36.8B for nine months, driven by strong MUPs retention and acquisition.
iGaming Revenue Accelerates iGaming revenue grew 20.6% to $1.30B over nine months, reflecting increased customer engagement across offerings.

Risk Factors

Ongoing Legal Exposure Multiple material legal proceedings remain pending, potentially leading to substantial damages or operational injunctions.
Increased Interest Expense Net interest expense was $14.5M for nine months, driven by new Term B Loan financing secured in Q1 2025.
Regulatory Uncertainty Risks Indirect tax liability contingent estimates are uncertain; adverse audit outcomes could materially impact financial statements.
Executive Transition Uncertainty President Matthew Kalish transitions out of North America role by March 2026, impacting leadership continuity.

Outlook

Focus on Profitability Path Path to profitability relies on accelerating contribution profit growth via efficient customer acquisition and scale benefits.
Strategic Acquisitions Integration Integrating Jackpocket and Simplebet results, plus completing Railbird acquisition, to expand digital lottery courier presence.
Capital Allocation Strategy Stock repurchase authorization increased to $2.0B; company maintains sufficient cash for current working capital needs.
Expand New Jurisdictions Priorities include launching product offerings in new jurisdictions and creating replicable, predictable unit economics.

Peer Comparison

Revenue (TTM)

Best Buy Co., Inc.BBY
$41.83B
-0.9%
Aptiv PLCAPTV
$20.15B
+2.2%
Amcor plcAMCR
$17.40B
+28.4%

Gross Margin (Latest Quarter)

DraftKings Inc.DKNG
71.3%
+39.0pp
Wynn Resorts, LimitedWYNN
41.2%
-1.0pp
Burlington Stores, Inc.BURL
40.6%
-3.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
RIVN$20.37B-5.7-59.8%32.6%
PKG$19.91B22.319.5%39.7%
BURL$19.28B35.039.4%61.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-6.3%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 12, 2026
|
EPS:$0.45
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $1.14B+4.4%
    |
    EPS: $-0.52-13.8%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $1.51B+36.9%
    |
    EPS: $0.32+146.2%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $1.41B+19.9%
    |
    EPS: $-0.07-77.1%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 14, 2025|
    Revenue: $4.77B+30.1%
    |
    EPS: $-1.05+39.3%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $1.10B+38.7%
    |
    EPS: $-0.60-1.6%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 2, 2024|
    Revenue: $1.10B+26.2%
    |
    EPS: $0.13-176.5%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $1.17B+52.7%
    |
    EPS: $-0.30-65.5%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 16, 2024|
    Revenue: $3.67B+63.6%
    |
    EPS: $-1.73+45.1%
    Miss