DraftKings Q2 revenue falls 4.6% to $1.44bn, witnesses net loss of $67.6m

DraftKings has reported its financial results for the second quarter of 2026 and first-half period, having witnessed a net loss of $67.6m during Q2, as well as a revenue decrease of 4.6% to just over $1.44bn. 

Despite the results, DraftKings Co-Founder and CEO Jason Robins highlighted growth across monthly unique players (MUPs) for DraftKings, which increased 9% for Q2 to 3.6 million customers. 

Robins notes ‘faster than anticipated growth’ with predictions

“We delivered a strong second quarter and enter the back half of the year with real momentum, as our core business grew across handle, users and engagement,” Robins said. 

“Our Super App is now live nationwide, and Predictions is already growing faster than we anticipated. The similarity of Predictions customer metrics to Sportsbook customer metrics, our advantaged LTV position and our playbook to innovate on a leading Predictions offering all underpin our confidence that we can win the category this NFL season and beyond.”

DraftKings CFO Alan Ellington also spoke on the operator’s Q2 and H1 2026 results, having said, “Our core business remains on track to generate approximately $1bn of adjusted EBITDA this year, providing us with financial flexibility to invest behind the significant opportunity that we are seeing in Predictions.

“Therefore, we are maintaining our fiscal year 2026 guidance for revenue of $6.5bn to $6.9bn and adjusted EBITDA of $700m to $900m.”

DraftKings witnesses Q2 decrease for sportsbook operations

As stated previously, DraftKings net revenue during the second quarter of 2026 fell 4.6% to $1.44bn, while the operator also witnessed a $67.6m net loss after generating a net income of $150.6m for the prior year period. DraftKings’ adjusted EBITDA also took a tumble for Q2, decreasing 61.9% to $114.6m. 

The fall in revenue was primarily caused by a 10.6% decrease in DraftKings’ sportsbook revenue, having totaled $891.9m during the quarterly period. iGaming and other revenue managed to increase by 7.5% and 5.2% respectively, generating $461.9m and $89.4m. 

Even while sportsbook revenue for DraftKings decreased year-over-year, the operator’s total betting volume rose by 14.5% for Q2 to just over $13.1bn. DraftKings stock price also closed at $22.17 per share following its Q2 and H1 2026 report, equating to an increase of 1.9% from where it opened on August 6. 

During Q2, DraftKings launched DKeX, a proprietary exchange granting the operator direct control over the technology infrastructure currently supporting its prediction markets offering. 

DKeX operates using the technology stack and Commodity Futures Trading Commission (CFTC) license acquired through DraftKings’ previous Railbird Technologies acquisition. 

H1 revenue increases Y-o-Y for DraftKings, still reports $46.5m loss

For the H1 period, DraftKings’ net revenue increased 5.8% to nearly $3.09bn, while adjusted EBITDA fell by 30% to $282.5m. The operator reported a net loss of more than $46.5m for the period, following a net income of $124.1m during the first half of 2025. 

Total betting volume for DraftKings increased 7.8% to $27.3bn, as sportsbook revenue managed to grow 5.7% to $2bn despite the softer Q2 results. iGaming revenue accounted for $923.2m and rose 8.2%, while other revenue decreased 4.6% to $179.6m. 

Up to this point in 2026, DraftKings has spent over $1.8bn on cost of revenue, as well as $724.3m on sales and marketing and $250.8m on product and technology. 

DraftKings stated the softer quarterly results were primarily due to “customer-friendly sport outcomes and increased promotional reinvestment associated with new customer acquisition on our Sportsbook and Predictions offerings.”

As part of its own Q2 and H1 report on August 5, Flutter Entertainment made headlines by announcing CEO Peter Jackson intends to step down from the role, with Flutter International CEO Dan Taylor set to take over responsibilities.