FY 2025 EARNINGS PRESENTATION February 12, 2026 | 1 Legal Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about DraftKings Inc. ("DraftKings", the "Company", "we", "us", and "our") and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. Nevada 87-2764212 222 Berkeley Street, 5th Floor Boston, MA 02116 (Address of principal executive offices) (Zip Code) (617) 986-6744 (Registrant's telep ...

Financial Performance - DraftKings reported fourth quarter revenue of $1,989 million, a 43% increase from $1,393 million in the same period of 2024[3]. - The company achieved positive net income of $136 million in Q4 2025, compared to a net loss of $135 million in Q4 2024[15]. - Adjusted EBITDA for Q4 2025 was $343 million, significantly up from $89 million in Q4 2024[17]. - Net income attributable to common stockholders for the year ended December 31, 2025, was $3.71 million, a significant improvement from a loss of $507.29 million in 2024[19]. - Adjusted EBITDA for the year ended December 31, 2025, was $619.99 million, compared to $181.31 million in 2024, reflecting a year-over-year increase of 242%[25]. - Cash flows provided by operating activities for 2025 were $662.86 million, up from $417.77 million in 2024, indicating a 58.6% increase[19]. - Adjusted diluted earnings per share for the year ended December 31, 2025, was $0.66, compared to $0.24 in 2024, marking a 175% increase[28]. User Engagement and Growth - Monthly Unique Payers (MUPs) remained stable at 4.8 million, with a 5% increase excluding Jackpocket compared to Q4 2024[8]. - Average Revenue per MUP (ARPMUP) rose to $139 in Q4 2025, reflecting a 43% increase year-over-year[8]. - DraftKings anticipates fiscal year 2026 revenue between $6.5 billion and $6.9 billion, with Adjusted EBITDA guidance of $700 million to $900 million[8]. - DraftKings plans to invest in DraftKings Predictions to enhance customer experience and acquire millions of new customers[4]. Cash Management and Investments - The company reported a cash and cash equivalents balance of $1.13 billion at the end of 2025, compared to $788.29 million at the end of 2024, representing a 43.7% increase[19]. - Cash paid for acquisitions in 2025 was $16.38 million, a significant decrease from $441.49 million in 2024, indicating a strategic reduction in acquisition spending[19]. - The company reported a net cash outflow from investing activities of $166.00 million in 2025, compared to a much larger outflow of $566.60 million in 2024, reflecting improved cash management[19]. - The company’s total liabilities to users decreased by $44.45 million in 2025, contrasting with an increase of $110.68 million in 2024, indicating better user liability management[19]. - The company’s cash reserved for users at the end of 2025 was $469.45 million, down from $525.41 million at the end of 2024, reflecting changes in user engagement and cash management strategies[19]. Tax and Compliance - A discrete income tax benefit of $14.6 million was recorded in 2025, compared to $87.3 million in 2024, both due to non-recurring partial releases of the U.S. valuation allowance[1]. - The estimated non-GAAP effective tax rate is 23% as of December 31, 2025, reflecting adjustments for non-GAAP profitability[1]. Market Presence and Operations - The company is live with mobile sports betting in 26 states and Washington, D.C., covering approximately 52% of the U.S. population[7]. - DraftKings is also operational in iGaming across 5 states, representing about 11% of the U.S. population[11]. - The Company operates in 29 states, Washington, D.C., Puerto Rico, and Ontario, Canada, with its sports betting operations and iGaming in five states and Ontario[2]. - DraftKings' daily fantasy sports product is available in 44 states and certain Canadian provinces[2]. - The Company owns Jackpocket, the leading digital lottery courier app in the U.S.[2]. - DraftKings is an official partner of major sports leagues including the NFL, NHL, and NBA, enhancing its market presence[2]. - The Company emphasizes responsible gaming and has developed educational tools for players[2]. Strategic Changes - The Company recorded amortization of acquired intangible assets of $36.3 million for Q4 2025 and $38.6 million for Q4 2024, totaling $149.3 million for the year ended 2025 and $159.8 million for 2024[1]. - The Company reported a $38.0 million gain related to contingent consideration in 2025, alongside various non-recurring expenses totaling $27.8 million for the discontinuance of the Reignmakers product offering in 2024[1]. - Forward-looking statements indicate potential risks including changes in laws, economic conditions, and litigation that could impact future performance[3].

DraftKings (DKNG) reported $1.99 billion in revenue for the quarter ended December 2025, representing a year-over-year increase of 42.8%. EPS of $0.36 for the same period compares to -$0.28 a year ago.The reported revenue represents a surprise of -0.02% over the Zacks Consensus Estimate of $1.99 billion. With the consensus EPS estimate being $0.50, the EPS surprise was -28%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

DraftKings (DKNG) came out with quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.5 per share. This compares to a loss of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -28.00%. A quarter ago, it was expected that this company would post a loss of $0.24 per share when it actually produced a loss of $0.26, delivering a surprise of -8.33%.Over the last four quarters, the company has not bee ...

The sports-betting company sees "a massive, incremental opportunity†in the hot world of prediction markets. ...

The online sports betting operator reported a 43% jump in sales during the fourth quarter and shared ambitious investment plans for its prediction markets platform. ...

Reported Positive Net Income Set Records for Revenue and Adjusted EBITDABOSTON, Feb. 12, 2026 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced its fourth quarter and fiscal year 2025 financial results. The Company also posted a letter to shareholders and an earnings presentation on the Investor Relations section of its website at investors.draftkings.com. Fourth Quarter 2025 HighlightsFor the three months ended December 31, 2025, DraftKings reported revenue ...

DraftKings Inc. (NASDAQ:DKNG) is one of the most oversold NASDAQ stocks to invest in. Bernstein cut the price target on DraftKings Inc. (NASDAQ:DKNG) to $32 from $41 on February 6, maintaining an Outperform rating on the shares. The rating update came ahead of the quarterly results, with the firm telling investors that it anticipates DraftKings Inc. (NASDAQ:DKNG) to deliver strong fiscal Q4 results this month, supported by favorable sports results. Despite this sentiment, Bernstein believes that this alone ...

DraftKings Inc (NASDAQ:DKNG) could underscore both the upsides and downsides of prediction markets when it reports fourth-quarter results on Thursday after market close.Here are the earnings estimates, analyst ratings and key items to watch.DraftKings Q4 Earnings EstimatesAnalysts expect DraftKings’ Q4 revenue to be $1.99 billion, up from $1.39 billion in Q4 2024, according to Benzinga Pro.The sports betting operator missed analyst estimates for revenue in six of the last 10 quarters, including Q3.Analysts ...