Quarterly ResultMay 8, 2026, 07:07 AM
DraftKings Q1 Revenue Jumps 17% to $1.65B; Achieves Net Income of $21.1M
AI Summary
DraftKings Inc. reported strong financial results for the first quarter of 2026, with revenue increasing by 16.8% to $1.65 billion. The company achieved a net income of $21.1 million, a significant improvement from a net loss of $33.9 million in the prior year's quarter. Basic earnings per share turned positive at $0.04, reflecting enhanced profitability and operational efficiency. The company also saw an improvement in cash flow from operating activities, reducing the net cash used to $48.4 million.
Key Highlights
- Revenue increased 16.8% to $1.65 billion for the three months ended March 31, 2026.
- Achieved net income of $21.1 million in Q1 2026, compared to a $33.9 million net loss in Q1 2025.
- Basic earnings per share was $0.04 for Q1 2026, up from a loss of $0.07 in Q1 2025.
- Net cash used in operating activities improved to $48.4 million from $119.0 million year-over-year.
- The acquisition of Railbird Technologies Inc. in October 2025 involved $84.8 million in total consideration.
- Goodwill of $40.2 million was recognized from the Railbird acquisition.
- DraftKings purchased $98.6 million of treasury stock under its repurchase program in Q1 2026.
- Total assets stood at $4.31 billion and total liabilities at $3.70 billion as of March 31, 2026.
Price Impact
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