DraftKings (DKNG) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and DraftKings published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. DraftKings reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted Earnings (Loss) Per Share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• DraftKings reports in thousands of dollars; the figures above are those amounts converted to millions. "Sports" is DraftKings' own revenue line covering online sportsbook, retail sportsbook and prediction markets. DraftKings has one reportable segment; the rows above are revenue categories from its disaggregation table.
• DraftKings released these results after the market close on November 5, 2026 and filed the 8-K and 10-Q on November 6.

Source: DraftKings Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How DraftKings splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• DraftKings's Sports revenue was $784 million in Q3 2026, up 31% from $596 million in Q3 2025, 59% of total revenue.
• DraftKings's iGaming revenue was $461 million in Q3 2026, up 2% from $451 million in Q3 2025, 35% of total revenue.
• DraftKings's Other revenue was $84.5 million in Q3 2026, down 13% from $96.6 million in Q3 2025, 6% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, DraftKings said:

“DraftKings is updating its fiscal year 2026 revenue guidance range to $6.35 billion to $6.55 billion and its fiscal year 2026 Adjusted EBITDA guidance range to $175 million to $275 million, primarily reflecting the Company's increased Adjusted EBITDA investment in Predictions of $650 million to $700 million.”

“The Company expects fiscal year 2026 Adjusted EBITDA from the core business of $875 million to $925 million, which reflects its decision to invest further in iGaming growth as well as the impact of modestly customer-friendly sport outcomes.”

“DraftKings is introducing a fiscal year 2027 revenue guidance range of $7.35 billion to $7.75 billion and a fiscal year 2027 Adjusted EBITDA guidance range of $800 million to $1.0 billion.”

“The Company expects fiscal year 2027 Predictions revenue of $650 million to $750 million and Adjusted EBITDA investment in Predictions of $250 million to $350 million.”

Source: DraftKings Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the DKNG forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted earnings (loss) per share attributable to common stockholders, each as first reported in that quarter's release, converted from thousands to millions. DraftKings' revenue moves with the sports calendar and with how sporting outcomes fall for customers.

We do not hold a confirmed date for DraftKings's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

DraftKings reported Q3 2026 revenue of $1,329 million, up $185 million, or 16%, from $1,144 million. Sports revenue, which combines its online and retail sportsbook with prediction markets, was $783.6 million, up 31.5%. iGaming, its online casino, brought in $460.9 million, up 2.1%, and Other revenue, which mainly covers daily fantasy sports, digital lottery and interest income on customer deposits, fell 12.5% to $84.5 million. (DraftKings Q3 2026 release, Nov 5, 2026; DraftKings Form 10-Q, Q3 2026, Nov 6, 2026)

DraftKings' Sports growth came from both volume and margin. Sports Consumer Volume, the settled wagers and trades on its Sportsbook and prediction markets, rose 21.9% to $13.9 billion, and Sports Net Revenue Margin rose 0.4 percentage points to 5.6%, which the 10-Q puts down to a higher hold percentage and lower promotional reinvestment on the Sportsbook, partly offset by promotions for the prediction markets launch. (DraftKings Q3 2026 release, Nov 5, 2026; DraftKings Form 10-Q, Q3 2026, Nov 6, 2026)

DraftKings Predictions launched in December 2025 under the oversight of the U.S. Commodity Futures Trading Commission and has operated as a futures commission merchant since August 2026. DraftKings also operates Railbird Exchange, a designated contract market doing business as DKeX. More than 1.6 million customers have engaged with Predictions this year, but DraftKings says Predictions revenue will be immaterial in fiscal 2026 because new customer promotions offset most of the gross revenue. (DraftKings Q3 2026 release, Nov 5, 2026; DraftKings Form 10-Q, Q3 2026, Nov 6, 2026)

DraftKings' Monthly Unique Payers rose about 13% to 4.1 million, and average revenue per MUP rose about 3% to $109. It is live with mobile sports betting in 27 states, Washington, D.C., and Puerto Rico, about 53% of the U.S. population, and with iGaming in 5 states, about 11% of the U.S. population. (DraftKings Q3 2026 release, Nov 5, 2026)

DraftKings' net loss attributable to common stockholders widened to $468.7 million, or $0.94 per share, from $0.52. The largest increase in costs was sales and marketing expense, which rose $245.3 million, or 68.1%, to $605.7 million. The 10-Q attributes it mainly to external marketing for the prediction markets offering and the Super App launch, plus customer acquisition costs around the FIFA World Cup and new jurisdictions. Gaming taxes rose $64.4 million. (DraftKings Q3 2026 release, Nov 5, 2026; DraftKings Form 10-Q, Q3 2026, Nov 6, 2026)

DraftKings' Adjusted Loss Per Share was $0.53, against $0.26 a year earlier. The adjusted figure adds back amortization of acquired intangible assets ($0.08 per share), stock-based compensation ($0.17), and advocacy and related legal expenses ($0.03), mostly spending on efforts to legalize iGaming and a ballot measure for Sportsbook, then applies a 27% non-GAAP tax rate. Adjusted EBITDA was a loss of $316.9 million. (DraftKings Q3 2026 release, Nov 5, 2026; DraftKings Form 10-Q, Q3 2026, Nov 6, 2026)

DraftKings bought back shares under its Stock Repurchase Program in the first half of 2026 but made no program purchases in the third quarter, according to its statement of stockholders' equity. Weighted average shares used for Adjusted Loss Per Share were 496.9 million, against 496.6 million a year earlier. (DraftKings Form 10-Q, Q3 2026, Nov 6, 2026; DraftKings Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

DraftKings gives annual guidance in its release. It cut its fiscal 2026 range to revenue of $6.35 billion to $6.55 billion and Adjusted EBITDA of $175 million to $275 million, primarily because of a larger Adjusted EBITDA investment in Predictions of $650 million to $700 million. It expects Adjusted EBITDA from the core business of $875 million to $925 million, and $175 million to $225 million of Predictions investment in the fourth quarter. (DraftKings Q3 2026 release, Nov 5, 2026)

For fiscal 2027 DraftKings introduced guidance of $7.35 billion to $7.75 billion of revenue, which it says is 17% growth at the midpoint, and Adjusted EBITDA of $800 million to $1.0 billion. That splits into core revenue of $6.7 billion to $7.0 billion and Predictions revenue of $650 million to $750 million, with Predictions investment of $250 million to $350 million. (DraftKings Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover DraftKings, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones DraftKings's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning DKNG is on is DKNG a buy or a sell?, what analysts expect next is on the DKNG forecast, and what the company does is on the DraftKings (DKNG) stock page.

Every number on this page can be traced to a document DraftKings published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.