Overview
- DraftKings reported first-quarter revenue of $1.65 billion, up 17% from a year ago, and recorded $21.1 million in net income.
- Adjusted EPS of 20 cents missed the 22-cent consensus, and shares slipped about 1.4% in premarket trading Friday after a 5.4% jump the prior session.
- The company reaffirmed its 2026 revenue outlook of $6.5 billion to $6.9 billion, citing stronger sportsbook margins and rising adjusted EBITDA.
- CEO Jason Robins made 'DraftKings Predictions' the priority to answer event-contract rivals such as Kalshi and Polymarket, saying Q1 spending on the product hurt EBITDA and will rise in Q2.
- DraftKings said it has begun market making with early positive returns, plans to add parlay-style combo bets to the product, and saw April customer-acquisition costs fall by more than 80%.