DraftKings Inc. (DKNG) Financial Statements

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DraftKings financial statements at a glance

DraftKings reported revenue of $6.05 billion for fiscal year 2025 (ended December 31, 2025), up 27.0% from fiscal year 2024. Net income was -$4.03 million, a net margin of 0.1% loss, and diluted earnings per share were $0.01.

At the end of fiscal year 2025 it had total assets of $4.53 billion, total liabilities of $3.90 billion and shareholders' equity of $631.46 million, with cash and short-term investments of $1.13 billion and total debt of $1.89 billion.

Its operations brought in $662.86 million of cash; capital spending was $154.46 million, leaving free cash flow of $508.39 million.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

DKNG logo

DraftKings Inc.

DKNGUnited States
Consumer-Oriented Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
6.05B
Prev Year: 4.77B
YoY: +27.0%
Operating Revenue
5.63B
Prev Year: 4.41B
YoY: +27.7%
Weighted Average Shares (basic)
495.90M
Prev Year: 482.00M
YoY: +2.9%
Diluted EPS
0.01
Prev Year: -1.05
YoY: +101.0%
Basic EPS
0.01
Prev Year: -1.05
YoY: +101.0%
Equity in Earnings of Affiliates, Net of Tax
971.0K
Prev Year: -468.0K
YoY: +307.5%
Other Income Expense
42.77M
Prev Year: -28.46M
YoY: +250.3%
Other Non-operating Income (expense)
38.02M
Prev Year: -23.51M
YoY: +261.7%
Gain on Sale of Securities
4.75M
Prev Year: -4.95M
YoY: +196.0%
Other General and Administrative
673.60M
Prev Year: 764.10M
YoY: -11.8%
Cost of Revenue
3.56B
Prev Year: 2.95B
YoY: +20.6%
Gross Profit
2.50B
Prev Year: 1.82B
YoY: +37.4%
Operating Expense
2.51B
Prev Year: 2.43B
YoY: +3.6%
Selling General and Administrative
2.05B
Prev Year: 2.03B
YoY: +1.2%
General and Administrative Expense
673.60M
Prev Year: 764.10M
YoY: -11.8%
Selling and Marketing Expense
1.38B
Prev Year: 1.26B
YoY: +9.1%
Research and Development
459.91M
Prev Year: 397.11M
YoY: +15.8%
Operating Income
-15.82M
Prev Year: -609.00M
YoY: +97.4%
Net Non Operating Interest Income Expense
-19.94M
Prev Year: 44.30M
YoY: -145.0%
Total Other Finance Cost
19.94M
Non-operating Interest Income
-
Prev Year: 47.26M
Pre-tax Income
7.01M
Prev Year: -593.16M
YoY: +101.2%
Provision for Income Taxes
4.27M
Prev Year: -86.34M
YoY: +105.0%
Net Income Common Stockholders
-4.03M
Prev Year: -507.29M
YoY: +99.2%
Net Income
3.71M
Prev Year: -507.29M
YoY: +100.7%
Net Income Including Non-Controlling Interests
3.71M
Prev Year: -507.29M
YoY: +100.7%
Net Income from Continuing Operations
3.71M
Prev Year: -507.29M
YoY: +100.7%
Otherunder Preferred Stock Dividend
7.74M
Diluted NI Available to Com Stockholders
-4.03M
Prev Year: -507.29M
YoY: +99.2%
Total Operating Income as Reported
-15.82M
Prev Year: -609.00M
YoY: +97.4%
Total Expenses
6.07B
Prev Year: 5.38B
YoY: +12.9%
Net Income from Continuing and Discontinued Operation
3.71M
Prev Year: -507.29M
YoY: +100.7%
Normalized Income
-40.1K
Prev Year: -503.06M
YoY: +100.0%
Net Interest Income
-19.94M
Prev Year: 44.30M
YoY: -145.0%
EBIT
-15.82M
Prev Year: -590.20M
YoY: +97.3%
EBITDA
259.67M
Prev Year: -319.35M
YoY: +181.3%
Reconciled Cost of Revenue
3.56B
Prev Year: 2.95B
YoY: +20.6%
Reconciled Depreciation
275.49M
Prev Year: 270.85M
YoY: +1.7%
Net Income from Continuing Operation Net Minority Interest
3.71M
Prev Year: -507.29M
YoY: +100.7%
Total Unusual Items Excluding Goodwill
4.75M
Prev Year: -4.95M
YoY: +196.0%
Interest Income
-
Prev Year: 47.26M
Total Unusual Items
4.75M
Prev Year: -4.95M
YoY: +196.0%
Interest Expense
-
Prev Year: 2.96M
Normalized EBITDA
254.92M
Prev Year: -314.40M
YoY: +181.1%
Tax Rate for Calcs
0.21
Prev Year: 0
Tax Effect of Unusual Items
996.9K
Prev Year: -719.8K
YoY: +238.5%
Weighted Average Shares (diluted)
495.90M
Prev Year: 482.00M
YoY: +2.9%
Values in USD

DraftKings key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$6.1B$4.8B$3.7B$2.2B$1.3B
Gross profit$2.5B$1.8B$1.4B$756.2M$501.9M
Operating income-$15.8M-$609.0M-$789.2M-$1.5B-$1.6B
Net income-$4.0M-$507.3M-$802.1M-$1.4B-$1.5B
Diluted EPS$0.01-$1.05-$1.73-$3.16-$3.78
Total assets$4.5B$4.3B$3.9B$4.0B$4.1B
Total liabilities$3.9B$3.3B$3.1B$2.7B$2.4B
Shareholders' equity$631.5M$1.0B$840.3M$1.3B$1.7B
Cash and short-term investments$1.1B$788.3M$1.3B$1.3B$2.2B
Total debt$1.9B$1.3B$1.3B$1.3B$1.3B
Operating cash flow$662.9M$417.8M-$1.8M-$625.5M-$419.5M
Capital spending$154.5M$120.9M$113.4M$103.6M$98.3M
Free cash flow$508.4M$296.9M-$115.1M-$729.2M-$517.8M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2017.

Questions and answers

What was DraftKings's revenue in fiscal year 2025?

$6.05 billion, up 27.0% from $4.77 billion in fiscal year 2024.

How much profit does DraftKings make?

DraftKings reported net income of -$4.03 million for fiscal year 2025 (0.1% of revenue); operating income was -$15.82 million.

How much cash and debt does DraftKings have?

At the end of fiscal year 2025: cash and short-term investments of $1.13 billion and total debt of $1.89 billion.

What is DraftKings's free cash flow?

$508.39 million in fiscal year 2025 (operating cash flow of $662.86 million minus capital spending of $154.46 million).

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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