DraftKings Reports Third Quarter 2025 Results

DraftKings Inc announced its third quarter 2025 financial results. The Company also posted a third quarter 2025 business update and a slide presentation on the Investor Relations section of its website.

Third Quarter 2025 Highlights

For the three months ended September 30, 2025, DraftKings reported revenue of $1144 million, an increase of $49 million, or 4%, compared to $1095 million during the same period in 2024. The increase in the Company’s third quarter 2025 revenue was driven by continued healthy customer engagement, efficient acquisition of new customers, and higher structural Sportsbook hold percentage, partially offset by customer-friendly sport outcomes. Adjusting for sport outcome impacts across periods, third quarter 2025 revenue growth was strong. In October, Sportsbook Handle increased 17% year-over-year.

“This is the most bullish I have ever felt about our future. Underlying growth in the business is accelerating and we are excited to launch DraftKings Predictions in the coming months, which we view as a significant incremental opportunity,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-founder.

“With handle growth accelerating and parlay handle mix continuing to increase, we are excited about the trajectory of our Free Cash Flow. We continue to focus on maximizing shareholder returns and are pleased to announce that our board authorized an increase in our share repurchase program from $1.0 billion to $2.0 billion,” said Alan Ellingson, DraftKings’ Chief Financial Officer.

Continued Customer Retention, Acquisition, and Engagement

Monthly Unique Payers (MUPs) increased approximately 2% to 3.6 million average monthly unique paying customers in the third quarter of 2025 compared to the third quarter of 2024. This increase reflects strong unique payer retention and acquisition across DraftKings’ Sportsbook and iGaming product offerings. Excluding Jackpocket, MUPs increased by 6% compared to the third quarter of 2024.

Average Revenue per MUP (ARPMUP) increased to $106 in the third quarter of 2025, representing a 3% increase compared to the same period in 2024. The increase was primarily due to increased revenue in iGaming as well as structural improvement in Sportsbook hold percentage, partially offset by customer-friendly sport outcomes for Sportsbook.

Fiscal Year 2025 Guidance

DraftKings is revising its fiscal year 2025 revenue guidance. The Company now expects fiscal year 2025 revenue of $5.9 billion to $6.1 billion. The Company’s updated guidance range equates to year-over-year growth of 24% to 28% based on the Company’s fiscal year 2024 revenue.

DraftKings is revising its fiscal year 2025 Adjusted EBITDA guidance. The Company now expects fiscal year 2025 Adjusted EBITDA of $450 million to $550 million.

The Company’s guidance includes anticipated financial impacts from DraftKings launching mobile sports betting in Missouri later this year. The Company’s guidance for fiscal year 2025 now includes the expected launch of DraftKings Predictions in the coming months, pending licensure.

Mobile Sports Betting and iGaming Footprint

DraftKings is live with mobile sports betting in 25 states and Washington, D.C., which collectively represent approximately 49% of the U.S. population. DraftKings expects to launch its Sportsbook product in Missouri pending market access, licensure, regulatory approvals, and contractual approvals where applicable.

DraftKings is also live with iGaming in 5 states, which collectively represent approximately 11% of the U.S. population.

DraftKings is live with its Sportsbook and iGaming products in Ontario, Canada, which represents approximately 40% of Canada’s population.