Filing Flows › DraftKings (DKNG) › Q2 2025
DraftKings (DKNG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
DraftKings (DKNG) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +37% from a year earlier and +7% from the quarter before. Operating margin was 10.0%, net earnings $158M (10.4% of revenue).
DraftKings, Q2 2025: revenue $1.5B (+37% year over year), operating margin 10.0%, net earnings $158M, operating cash flow $174M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | +7% | +37% |
| Operating profit | $151M | — | — |
| Net earnings | $158M | — | +147% |
| Operating cash flow | $174M | — | +492% |
| Free cash flow | $170M | — | +529% |
What changed
Revenue was $1.5B in Q2 2025, up 37% year over year and up 7% from the previous quarter. Sportsbook was the largest line at 66% of revenue. Sportsbook added $0.31B year over year (up 45%), 76% of the total change.
Operating profit was $0.15B, a 10.0% margin (up 12.9 points year over year). Total costs grew 20% against revenue growth of 37%. The fastest-growing cost line was Cost of revenue (+29%). Net earnings were $0.16B, up 147% year over year. The effective tax rate was 6.9%.
Operating cash flow was $0.17B (up 492% year over year), 110% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.13B. Capital expenditures of $4.3M left free cash flow of $0.17B.
Questions
What was DraftKings' revenue in the second quarter 2025?
DraftKings (DKNG) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +37% from a year earlier and +7% from the quarter before.
Was DraftKings profitable in the second quarter 2025?
Operating profit was $151M (10.0% of revenue) and net earnings $158M.
Source: DraftKings 10-Q on SEC EDGAR.