DraftKings Q1 Swings To Profit On Higher Revenues

(RTTNews) - Sports betting and gaming company DraftKings Inc. (DKNG) on Thursday posted a first-quarter profit, compared with a loss last year, helped by higher revenues.

Net income attributable to common stockholders was $21.07 million, or $0.03 per share, compared with a net loss of $33.86 million, or $0.07 loss per share, in the year-ago quarter.

Adjusted earnings increased to $0.20 per share from $0.12 per share last year.

Revenue increased 17% to $1.65 billion from $1.41 billion last year, driven primarily by efficient customer acquisition, healthy customer engagement and higher Sportsbook net revenue margin.

"We are off to a fantastic start to the year as our first quarter results exceeded our expectations," said Jason Robins, DraftKings' Chief Executive Officer and Co-founder. "Our core business is strong, and profitability is inflecting. That gives us the firepower to press our advantage in Predictions. With our Super App, market making capabilities, proprietary exchange, and combos coming together, we intend to establish a leadership position in Sports Predictions before year-end."

Sportsbook revenue climbed 24.1% to $1.09 billion, while Sportsbook net revenue margin improved to 7.8% from 6.4% a year ago. iGaming revenue rose 8.9% to $461.30 million.

Monthly Unique Payers, or MUPs, declined 4% to 4.2 million, primarily due to the company's exit from the Texas Lottery market in 2025. Excluding the Lottery business impact, MUPs increased 2%.

Average revenue per MUP jumped 21% to $131, reflecting improved Sportsbook margins.

DraftKings maintained its fiscal 2026 revenue guidance range of $6.5 billion to $6.9 billion and adjusted EBITDA guidance of $700 million to $900 million.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This data feed is not available at this time.