EarningsQ2 2026 Earnings Report
MX:DKNG1 Q2 2026 EPS Results
Actual EPS-$2.53
Consensus EPS$0.40
Beat/MissMissed by -$2.93
One Year Ago EPS$5.42
MX:DKNG1 Q2 2026 Revenue Results
Actual Revenue$26.09B
Expected Revenue$27.38B
Beat/MissMissed by -$1.29B
YoY Revenue Growth-4.58%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
MX:DKNG1 Upcoming Earnings
DraftKings's next earnings date is estimated for October 30, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:DKNG1 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong top-line and operational momentum: robust customer acquisition (nearly +75% YoY), efficient CAC (~25% better than expected), double-digit improvements in customer monetization (trailing 12-month net revenue per user +14% YoY), Sportsbook handle growth (+11% YoY) and rapid Predictions adoption (600k+ engaged, volume ~5x Apr–Jul). Management reiterated fiscal 2026 revenue and adjusted EBITDA guidance while outlining an incremental $200M–$300M investment in Predictions and continued cost discipline (adjusted G&A -6% YoY). Key challenges include a roughly $80M Q2 revenue headwind from customer-friendly sport outcomes, near-term profitability pressure from higher acquisition and material investment in Predictions, regulatory uncertainty around Predictions ramp, and some prior iGaming underperformance. On balance, the highlights — strong growth, improving unit economics, successful product launches (DKeX, combos), and scalable vertical integration — materially outweigh the near-term lowlights and volatility described.Company Guidance
Strong Adjusted EBITDA and Core Earnings Power
Generated $115 million of adjusted EBITDA in Q2 2026; management reiterates fiscal 2026 adjusted EBITDA guidance of $700M–$900M and expects the core business to generate approximately $1 billion of adjusted EBITDA in 2026.
Robust Customer Acquisition and Efficient CAC
Customer acquisition grew nearly 75% year-over-year in Q2; the company acquired ~30% more customers than planned, invested ~10% more in acquisition spend, yet underlying customer acquisition costs were ~25% better than anticipated and represented the best enterprise-wide CAC since Q1 2025.
Improved Engagement and Revenue per Customer
Monthly unique payers accelerated to 9% year-over-year ( >6% ex-World Cup-only customers); trailing 12-month net revenue per unique customer grew 14% year-over-year in H1 2026, indicating durable revenue growth per customer.
Handle and Volume Growth Across Sports
Sports consumer volume increased 15% year-over-year in Q2; Sportsbook handle grew 11% year-over-year; NBA total handle grew 7% year-over-year and parlay mix rose meaningfully (parlay mix increased >400 basis points during the NBA season).
World Cup and Post-Event Momentum
World Cup drove Sportsbook handle approximately 6x higher than the 2022 World Cup (4.5x on a same-state basis); July handle remained strong with double-digit year-over-year growth and July handle up ~20% YoY post-World Cup.
Predictions Fast Ramp and Product Progress
Over 600,000 customers engaged with Predictions YTD; annualized total Predictions volume traded grew nearly 5x from $2.3B to $11B from April to July; combos rapidly scaled to ~20% of Predictions consumer volume; expanded sports content >25x April–July and now offer 30+ markets per MLB/NBA/WNBA game.
Vertical Integration and Market Infrastructure
Launched in-house exchange (DKeX) in June and obtained Futures Commission Merchant (FCM) approval in July; live on 3 exchanges, consistently making markets on singles and combos at a profit and seeing double-digit share in markets where they participate — positioning for improved unit economics and LTV capture.
Cost Discipline and Margin Focus
Adjusted G&A expense declined 6% year-over-year; adjusted operating expenses excluding external marketing and Predictions improved year-over-year; management emphasizes continued cost discipline while investing behind high-return opportunities.
iGaming Product Innovations and Stabilization
iGaming saw positive product-led results (Lightning Link launch, Flex Spins) and share stabilization after prior declines; customer acquisition into iGaming was stronger than expected in Q2.
Minimal Cannibalization Observed
Internal data shows ~1% customer overlap between DraftKings Sportsbook and the largest prediction market operator in Sportsbook states; management estimates 80%–90% of prediction market volume in Sportsbook states is from professional/institutional traders, implying Predictions is largely incremental.
MX:DKNG1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed