Filing Flows › DraftKings (DKNG) › Q1 2025
DraftKings (DKNG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
DraftKings (DKNG) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +20% from a year earlier and +1% from the quarter before. Operating margin was -3.3%, net loss $33.9M (2.4% of revenue).
DraftKings, Q1 2025: revenue $1.4B (+20% year over year), operating margin -3.3%, net loss $33.9M, operating cash flow −$119M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +1% | +20% |
| Operating profit | −$46.3M | — | — |
| Net earnings | −$33.9M | — | — |
| Operating cash flow | −$119M | — | — |
What changed
Revenue was $1.4B in Q1 2025, up 20% year over year and up 1% from the previous quarter. Sportsbook was the largest line at 63% of revenue. Sportsbook added $0.15B year over year (up 20%), 63% of the total change.
Operating costs exceeded revenue by $0.05B, an operating margin of -3.3%. Total costs grew 11% against revenue growth of 20%. The fastest-growing cost line was Cost of revenue (+19%). The quarter ended with a net loss of $0.03B, narrower than the previous quarter's $0.13B loss.
Operating cash flow was −$0.12B. Non-cash charges added back $0.07B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.23B. Capital expenditures of $2.6M exceeded it, leaving free cash flow of −$0.12B.
Questions
What was DraftKings' revenue in the first quarter 2025?
DraftKings (DKNG) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +20% from a year earlier and +1% from the quarter before.
Was DraftKings profitable in the first quarter 2025?
Operating loss was $46.3M (-3.3% of revenue) and net loss $33.9M.
Source: DraftKings 10-Q on SEC EDGAR.