DraftKings Inc. Q2 2026 Earnings Recap

DraftKings shares rose 8.4% post-earnings as the company delivered better-than-expected customer acquisition and engagement, alongside strong prediction market growth, supporting guidance and margin outlook.

Key Takeaways

• Customer acquisition surged nearly 75% year-over-year, exceeding prior plans by approximately 30%, aided by NBA Finals and World Cup interest.
• Adjusted EBITDA reached $115 million in Q2, driven by core business strength despite customer-friendly sports outcomes and higher acquisition spend.
• Predictions offering volume grew nearly 5x annualized from $2.3 billion in April to $11 billion in July, with >600,000 engaged customers year-to-date.
• Sportsbook handle increased 11% year-over-year, while normalized revenue rose 10%, helped by rising parlay handle mix and industry-leading net revenue per unique customer growth (14% YoY).
• Fiscal 2026 guidance was maintained at $6.5 billion to $6.9 billion revenue and $700 million to $900 million adjusted EBITDA, reflecting confidence despite increased investment in Predictions.