DraftKings Inc. · DKNG · FY2024 Q4 · Calendar Q1 2025

DraftKings raises 2025 revenue outlook as live betting expands

The supplied analysis supports a constructive but conditional view: revenue growth, customer expansion, improving sportsbook hold, and new product initiatives strengthen the operating trajectory, while execution, regulatory, promotional, and capital-allocation risks remain material.

Reported After market closeNASDAQConsumer Cyclical $10.38B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.07
EPS surprise — Reported versus consensus
Reported revenue — Consensus $1.45B
Revenue surprise — Reported versus consensus

Market reaction

event-close to next-session close
Stock move +15.2% Event window
SPY move -0.0% Same window
Abnormal move +15.2% Stock minus SPY
Volume 6.4× Versus trailing sessions
Subsequent drift -27.6% Up to 20 sessions
DKNGSPY benchmark

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Transcript intelligence

What changed

Relative to the prior analysis, management’s 2025 revenue outlook improved at the low end while EBITDA guidance remained reaffirmed. The current plan places greater emphasis on live betting, Jackpocket scaling, acquisition integration, and potential capital-market activity.

Guidance delta

Management raised 2025 revenue guidance to $6.3-$6.6 billion while reaffirming adjusted EBITDA guidance of $900 million-$1 billion.

Key takeaways

  • Management described 2024 revenue growth, positive free cash flow, and customer expansion alongside improved sportsbook hold.
  • The 2025 revenue outlook was raised at the low end, while adjusted EBITDA guidance was reaffirmed.
  • The operating plan centers on live betting, Jackpocket expansion, acquisitions, and continued state-market development.

Management priorities

  • Roll out enhanced live-betting features and integrate recent acquisitions.
  • Scale Jackpocket and pursue additional state launches.
  • Evaluate the DraftKings Plus subscription pilot and manage capital allocation, including potential debt issuance and buybacks.

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Earnings History

Estimate Beat Miss Match
DKNG EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $-0.29 Q1 '24 actual $-0.30, miss Q2 '24 estimate $0.01 Q2 '24 actual $0.12, beat Q3 '24 estimate $-0.42 Q3 '24 actual $-0.60, miss Q2 '25 estimate $0.15 Q2 '25 actual $0.38, beat Q3 '25 estimate $-0.43 Q3 '25 actual $-0.26, beat Q4 '25 estimate $0.36 Q4 '25 actual $0.36, match Q1 '26 estimate $0.22 Q1 '26 actual $0.20, miss Q2 '26 estimate $0.02 Q2 '26 actual $-0.14, miss Q3 '26 estimate $-0.38 Q4 '26 estimate $0.46 Q1 '27 estimate $0.16
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Analyst Consensus ?

ConsensusBuy48 ratings
Bullish3675.0%
Neutral816.7%
Bearish48.3%

Analyst 52W Price Targets

$20.91Previous close
$15Low
$41.33Average
$105High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Canaccord Genuity Buy BuyMaintainOct 23, 2026
Truist Securities Buy BuyMaintainOct 20, 2026
JP Morgan Overweight OverweightMaintainOct 20, 2026
Wells Fargo Overweight OverweightMaintainOct 19, 2026
Morgan Stanley Overweight OverweightMaintainOct 19, 2026
Show 43 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $20.91. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Canaccord GenuityAnalyst unavailable$40$20.94 +91.3%Oct 23, 2026
MoffettNathansonRobert Fishman$22$20.53 +5.2%Oct 22, 2026
SusquehannaJoseph Stauff$27$19.15 +29.1%Oct 8, 2026
GuggenheimAnalyst unavailable$30$19.75 +43.5%Oct 7, 2026
UBSRobin Farley$48$22.58 +129.6%Sep 18, 2026
See 173 more

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Company context

Snapshot as of publication

DraftKings Inc. operates as a leading digital enterprise specializing in sports entertainment and gaming. The company provides sophisticated multi-channel sports betting and gaming technology solutions to operators across 17 countries, facilitating diverse entertainment experiences. Directly, DraftKings manages its own iGaming services under the DraftKings brand in five U.S. states, and separately operates Golden Nugget Online Gaming, another iGaming offering, in three states. Its Sportsbook platform is accessible for both mobile and physical wagers in 18 U.S.…

Historical context

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Consumer Cyclical peers this season

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-01-30T00:03:07.291072+00:00
  3. Polygon adjusted daily market bars · 2026-10-26T07:30:38.199396+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T07:30:38.196499+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.