DraftKings Q2 revenue falls 5% amid customer-friendly sport outcomes

DraftKings Inc. (NASDAQ: DKNG) reported second quarter 2026 revenue of $1.44 billion, a decline of 5% from $1.51 billion in the same period a year earlier, according to a company press release. The company attributed the decrease primarily to customer-favorable sport outcomes and increased promotional spending tied to new customer acquisition on its Sportsbook and Predictions offerings.

Sports Consumer Volume, which measures total settled wagers and trades on Sportsbook and Prediction Markets, rose 15% to $13.1 billion from $11.5 billion in the second quarter of 2025. Monthly Unique Payers grew approximately 9% year-over-year to 3.6 million, while Average Revenue per Monthly Unique Payer fell approximately 13% to $132.

The company posted a net loss of $67.6 million for the quarter, compared with net income of $157.9 million in the prior-year period. Adjusted EBITDA was $114.6 million, down from $300.6 million a year earlier. Diluted loss per share was $0.14, versus diluted earnings of $0.30 in the second quarter of 2025. Adjusted diluted earnings per share were $0.09, compared with $0.38 a year ago.

For the first six months of 2026, total revenue was $3.09 billion, up from $2.92 billion in the same period of 2025. Six-month Adjusted EBITDA was $282.5 million, compared with $403.3 million a year earlier.

DraftKings maintained its fiscal year 2026 guidance, projecting revenue of $6.5 billion to $6.9 billion and Adjusted EBITDA of $700 million to $900 million.

Chief Financial Officer Alan Ellingson said the core business remains on track to generate approximately $1 billion of Adjusted EBITDA for the year, providing financial flexibility to invest in the Predictions offering.

As of June 30, 2026, DraftKings held $983.9 million in cash and cash equivalents. The company operates mobile sports betting in 27 states, Washington D.C., and Puerto Rico, and iGaming in five states.

You May Also Be Interested In

• Arcosa stockholders approve $150-per-share cash buyout by CRH
• EU proposes to curb Airbnb and short-term rentals amid housing shortage
• Spartacus Metals holds AGM, all resolutions passed