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Sep 30, 2025
DraftKings Q3 2025 Earnings Report
DraftKings reported increased revenue and higher customer engagement in Q3 2025, despite a larger net loss compared to the prior year.
Key Takeaways
DraftKings posted strong iGaming and customer growth in Q3 2025, but was weighed down by lower Sportsbook revenue and ongoing losses.
Revenue by Segment
Forward Guidance
DraftKings raised its FY25 revenue and Adjusted EBITDA outlook, expecting continued customer growth and product expansion.
Positive Outlook
- FY25 revenue guidance increased to $5.9B–$6.1B.
- FY25 Adjusted EBITDA guidance raised to $450M–$550M.
- Strong growth expected from DraftKings Predictions product.
- Mobile sports betting launch planned in Missouri.
- Continued parlay handle mix and customer engagement.
Challenges Ahead
- Net losses continue to weigh on profitability.
- Lower Sportsbook revenue margin due to customer-friendly outcomes.
- Ongoing high sales and marketing expenses.
- Cost pressures from product and technology investments.
- Regulatory and licensure dependencies for expansion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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