Filing Flows › DraftKings (DKNG) › Q2 2026 › vs Q2 2025
DraftKings (DKNG) Q2 2026 vs Q2 2025 (year over year)
DraftKings's revenue fell $69.3M (-5%) from $1.5B in Q2 2025 to $1.4B in Q2 2026. The biggest changes: Sports −$106M (-11%); iGaming +$32.3M (+8%); Other +$4.4M (+5%).
DraftKings, Q2 2026: revenue $1.4B (-5% year over year), operating margin -4.7%, net loss $67.6M, operating cash flow $111M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 7.4% | 11.2% | -3.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Sports | $892M | $998M | −$106M | -11% |
| iGaming | $462M | $430M | $32.3M | +8% |
| Other | $89.4M | $85.0M | $4.4M | +5% |
| Revenue | $1.4B | $1.5B | −$69.3M | -5% |
| Income tax benefit | $1.8M | −$11.8M | $13.6M | — |
| Net loss | $67.6M | −$158M | $226M | — |
| Costs & expenses | $1.5B | $1.5B | −$19.1M | -1% |
| Operating costs | $1.5B | $1.4B | $150M | +11% |
| Cost of revenue | $892M | $855M | $37.2M | +4% |
| Sales & marketing | $323M | $233M | $89.3M | +38% |
| General & admin | $169M | $166M | $3.7M | +2% |
| Other operating costs | $128M | $108M | $19.2M | +18% |
| Operating cash sources | $179M | $16.0M | $163M | 11× |
| Depreciation & amortization | $80.3M | $65.3M | $15.0M | +23% |
| Share-based compensation | $82.6M | $84.7M | −$2.1M | -3% |
| Working capital & other | $16.2M | −$134M | $150M | — |
| Net loss absorbed | $67.6M | −$158M | $226M | — |
| Operating cash flow | $111M | $174M | −$62.5M | -36% |
| Free cash flow (OCF − capex) | $107M | $170M | −$62.8M | -37% |
| Capital expenditures | $4.6M | $4.3M | $270K | +6% |
Questions
How much did DraftKings's revenue grow year over year in Q2 2026?
DraftKings's revenue fell $69.3M (-5%) from $1.5B in Q2 2025 to $1.4B in Q2 2026.
What drove DraftKings's revenue change in Q2 2026?
Sports −$106M (-11%); iGaming +$32.3M (+8%); Other +$4.4M (+5%).