DraftKings (DKNG) Q3 FY2026 earnings: revenue $1.3 billion, up 16.2% on the year

DraftKings Inc. (DKNG) reported revenue of $1.3 billion for Q3 FY2026, the quarter ended 30 September 2026, up 16.2% on the same quarter a year earlier. Net income was -$469 million, and diluted earnings per share $-0.94. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2026.

Revenue

$1.3 billion

+16.2% on the year · -7.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-37.1%

-23.8% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$469 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.94

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 3 lowered, 7 new.

Revenue rose 16% year over year: Total revenue was $1,329 million, up $185 million from $1,144 million a year earlier.
Adjusted EBITDA was a loss: Adjusted EBITDA was a loss of $316.9 million, against a loss of $126.5 million a year earlier. Adjusted loss per share was $0.53, against $0.26.
Sports revenue grew 31.5%: Sports revenue was $783.6 million, up $187.5 million from $596.1 million a year earlier.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	1,329	1,443	1,144	-7.9%	+16.2%
Cost of revenue	900	892	784	+0.9%	+14.8%
Gross profit	429	551	360	-22.2%	+19.2%
Gross margin	32.3%	38.2%	31.5%
Operating income	-493	-68.2	-272
Operating margin	-37.1%	-4.7%	-23.8%
Interest expense	11.4	7.4	19.6	+53.1%	-41.8%
Pre-tax income	-479	-71.9	-271
Income tax	7.3	-1.8	-12.1
Net income	-469	-67.6	-257
Net margin	-35.3%	-4.7%	-22.4%
Diluted EPS	-$0.94	-$0.14	-$0.52

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	0.0	111	287	-100.0%	-100.0%
Capital expenditure	43.8	4.6	4.4	+854.2%	+887.1%
Free cash flow	-43.7	107	283
Free cash flow margin	-3.3%	7.4%	24.7%
Cash from investing	-84.0	-45.2	-41.8
Cash from financing	366	-65.5	-101
Depreciation and amortisation	77.4	80.3	66.1	-3.7%	+17.1%
Share-based compensation	86.0	82.6	72.5	+4.2%	+18.7%
Buybacks	0.0	55.6	71.2
Diluted shares, weighted	497m	496m	497m	+0.2%	+0.1%
Shares outstanding at period end	891m	889m	891m	+0.2%	+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	180	569	732	-68.5%	-75.5%
Debt	2,236	1,858	1,862	+20.4%	+20.1%
Operating lease liabilities	81.0	71.3	59.2	+13.6%	+36.8%
Other liabilities	2,115	1,779	1,971	+18.9%	+7.3%
Total liabilities and equity	4,611	4,277	4,624	+7.8%	-0.3%
Fixed assets	90.7	52.7	52.1	+72.1%	+74.2%
Goodwill	1,598	1,598	1,555	0.0%	+2.7%
Intangible assets	810	837	861	-3.3%	-6.0%
Cash and equivalents	1,101	984	1,228	+11.9%	-10.4%
Receivables	100	82.1	65.6	+22.4%	+53.2%
Other assets	912	724	862	+26.1%	+5.8%
Total assets	4,611	4,277	4,624	+7.8%	-0.3%

Questions

What was DraftKings' revenue in Q3 FY2026?

DraftKings (DKNG) reported revenue of $1.3 billion for Q3 FY2026, the quarter ended 30 September 2026, up 16.2% on the same quarter a year earlier.

How much did DraftKings earn in Q3 FY2026?

Net loss for Q3 FY2026 was $469 million, and the diluted loss per share $0.94.

When did DraftKings report Q3 FY2026 results?

DraftKings filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 6 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	473	417	466	502	855	770	875	790	1,231	1,175	1,104	1,095	1,393	1,409	1,513	1,144	1,989	1,646	1,443	1,329
Cost of revenue	253	313	313	373	485	522	510	543	717	710	663	742	835	844	855	784	1,075	949	892	900
Gross profit	220	104	153	129	370	248	365	247	514	465	441	353	558	565	658	360	915	697	551	429
Gross margin	47%	25%	33%	26%	43%	32%	42%	31%	42%	40%	40%	32%	40%	40%	44%	31%	46%	42%	38%	32%
Operating income	-369	-516	-309	-455	-232	-390	-69.0	-287	-43.8	-139	-32.4	-299	-139	-46.3	151	-272	152	5.8	-68.2	-493
Operating margin	-78%	-124%	-66%	-91%	-27%	-51%	-8%	-36%	-4%	-12%	-3%	-27%	-10%	-3%	10%	-24%	8%	0%	-5%	-37%
Interest expense	n/a	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.7	0.6	0.7	0.9	0.8	5.1	11.6	19.6	-16.4	5.7	7.4	11.4
Pre-tax income	-323	-465	-298	-447	-233	-396	-76.3	-282	-37.5	-143	-9.5	-295	-146	-39.4	170	-271	147	22.9	-71.9	-479
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	7%	n/a	7%	28%	n/a	n/a
Net income	-326	-468	-217	-450	-243	-397	-77.3	-283	-44.6	-143	63.8	-294	-135	-33.9	158	-257	136	21.1	-67.6	-469
Net margin	-69%	-112%	-47%	-90%	-28%	-52%	-9%	-36%	-4%	-12%	6%	-27%	-10%	-2%	10%	-22%	7%	1%	-5%	-35%
Diluted EPS	-$0.80	-$1.14	-$0.50	-$1.00	-$0.53	-$0.87	-$0.17	-$0.61	-$0.10	-$0.30	$0.10	-$0.60	-$0.28	-$0.07	$0.30	-$0.52	$0.25	$0.03	-$0.14	-$0.94
Operating cash flow	-172	-357	-173	52.2	-148	-201	-17.7	145	72.1	-70.4	29.4	134	325	-119	174	287	320	-48.4	111	0.0
Capital expenditure	4.8	8.6	5.8	5.4	12.5	7.1	2.6	10.2	1.0	3.0	2.4	2.7	2.0	2.6	4.3	4.4	4.0	7.1	4.6	43.8
Free cash flow	-177	-365	-178	46.8	-161	-209	-20.3	135	71.0	-73.4	27.0	131	323	-122	170	283	317	-55.5	107	-43.7
Buybacks	3.5	14.1	3.4	4.5	3.5	27.4	13.8	18.2	20.7	33.5	24.4	20.3	-30.1	142	100	71.2	258	98.6	55.6	0.0
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	883m	889m	889m	891m	886m	889m	889m	891m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 6 November 2026: the filing.