DraftKings Q3 Loss Widens

What happened

DraftKings reported a third-quarter net loss of $468.7 million, or $0.94 per share, wider than the prior-year loss of $256.8 million. Revenue rose 16% to $1.329 billion, led by 31.5% growth in sports revenue, while iGaming revenue increased 2.1%.

Confirmed

Global impact / market context

Revenue growth alongside a larger loss shows that stronger customer activity has not yet translated into better reported earnings. Sports revenue was the main growth driver, while slower iGaming growth and declining other revenue show that results differ across the company’s business lines.

Analyst inference

DraftKings also raised its outlook for fiscal 2026 and gave fiscal 2027 forecasts, including adjusted EBITDA, a measure of earnings before interest, taxes, depreciation and amortization. The projected improvement could support expectations for stronger earnings, but depends on the forecasts being achieved.

Analyst inference

What to watch

1. Compare upcoming revenue growth with the net loss and adjusted loss per share to see whether higher sales are accompanied by improving reported and adjusted results. Analyst inference
2. Track sports and iGaming revenue separately: sports grew faster in this quarter, while iGaming rose only 2.1%, shaping the mix behind future sales growth. Analyst inference
3. Check future results against the fiscal 2026 revenue forecast of $6.35 billion to $6.55 billion and adjusted EBITDA forecast of $175 million to $275 million. Confirmed

Evidence

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